Starting my own small gym business: Advice Needed

[projectaero]

Hello.
I am looking at starting up a personal trainer's gym in the next 8 months or so.
Basically i know where i wanto go and where to expand i just got to get your opinion on what are some things i need to do.

Equipment:
What do you think are the items i need, i dont want to have all machine weights, basically i want it old school with a part of new school, so bench, leg press, squat rack, dips, boxing bags, what else you think would be needed

Flooring:
As i am renting out a location do you think that it would be best to buy specialized flooring, but something easy to move somewhere else maybe a type of those jigsaw mats.

Rent of Buy Equipment:
Do you think i should rent or buy equipment, basically i can cancel my membership and work out at the gym what i will have, say for instance if its $400 week for all equipment thats close to $20,000 in equipment per year, so would it be best to buy it all first?

Cost:
What costs do you think would be involved in basically getting it up and running, ie building rent, equipment, advertising etc.

What i will be offering: Weight Loss, Muscle Gain, Group Classes, Eventually Competition preparation but not yet, Nutritional help and maybe eventually kick boxing/ boxing. I will be doing it all myself as its going to be a quiet location where people who arent comfortable to get out there, or who are beginning or someone who wants to come to a gym workout hard. Basically going to be there to motivate them, spot them, show them correct techniques etc.

Also if i buy a commercial fridge etc do i have to lock in a contract with a drink business or can i buy my own stuff like bottled water, protein shakes etc and charge what i want, within reason ?
Also on that topic would i be allowed to have protein there for customers to use say if they are on a bulk and charge say $1 - 2 per shake or is that illegal ?

Making Money:
As i don't have the money i will be getting a loan from a bank etc so i am wondering with a private one on one gym how much should i be offering per client within reason ans with that how long would it take on average for me to make enough money to pay back the loan as i dont care how much i make just wanting to get this business off the ground and working full time on it.


There the only details i have at the moment as i am just brainstorming still.
Have about 6-8 months to get it worked out.
Any help will be appreciated

Cheers

 

[Fitgirl70]

Have you run the numbers yet? Sounds like you need to get a cost per analysis.

Run some demographics too. Find out what other Private Gyms in your area are charging.

You'll also need to get a retail/food sales permit if you're going to sell protein/fruit/pb/milk "shakes" to your customers.

Always buy, never rent. This way, if anything goes wrong, you'll have collateral and equity.

I would think if you're going to buy a cold drink cooler, you might want to get a contract on that stuff. I think they're pretty cheap, unless you can find one at a sale, say where someone might be going out of business. But yes, if you plan to stock it with say Isopure or Monster or Red Bull or anything like that, you'll need to get that product company to come in and give you some quotes.

Good luck to you!

 

[projectaero]

thanks for the advice i am still brain storming but i will work out the figures etc.
basically its a Personal training gym where ppl can come for yoga, bodybuilding, cardio, or if they want go outside and work out.
equipment i only need one of each as majority of it is one on one but for groups or 2-3 who come along together i can help out one and look at the other too as its not going to be that big of a place.

Do you think tho after a year you could make back the 20,000 or so to start up.

I am always learning so i will always be doing courses to maximize knowledge.
Plus being a gym for appt only its not going to always be open il arrive 30 min before they do etc.

Once it takes off then i will think about expanding but until then its a small venture u know

 

[NordicNacho]

Im sure insurance costs a pretty penny. People love to sue these days and they will take everything. you need some a business

 

[Fitgirl70]

Sure, I think you could make that back. Depends also on your overhead. You have to factor in the electricity, the water, are you going to provide showers, AC/Heating, etc. You also have to factor in, will you have a clientele built before you open, how effective is your marketing/advertising. Will you offer discounts for your Grand Opening, how much are you going to spend on your Grand Opening.....

Lots to think about.

I've thought of opening my own health/fitness deli/restaurant geared towards fitness/bodybuilders. I still want to, but man it really costs a lot to get a business started. Be sure to look into a small business loan.

 

[vtps001]

Re: Starting my own small gym business

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[mcguin]

I work for a commercial insurance carrier, you might think you need 20k up front to get the place going, but the liability insurance on your gym depending on how far you go with it is going to cost you minimum 10k for a year, and thats bare minimum depending on what your operations will consist of. Obviously like most companies you wont have to pay the full premium up front but expect hefty monthly payments.