[quote]SWR wrote:
Amiright wrote:
SWR wrote:
Rhino Jockey wrote:
Start your own damn company. You got the business degree right?
I’m fully ready to do this…except for one thing. I would need about $500,000 (on the lower side) to get started, and I can put in about $4,000 of my own money.
Nobody is going to loan the rest of the money, so unless someone has very wealthy family, or a ton of money saved up, this isn’t happening.
What type of business are you trying to start… my parents started their auto repair shop 25 years ago with absolutely no money. Dad had about 200 dollars to his name.
edit: you can never start big… you have to start with what you have and work up to it. If you go with that mentality you will never get anywhere.
Opening a Powerhouse Gym. I already have the information from Powerhouse, a few locations in mind, and set up most of my powerpoint presentation to take to a bank or investors for a loan.
I just need a hundred more thousand or so to be able to move forward.
One could start with a small no-name gym, but the cost for the land, and rent would be significantly more than I could afford as well, though a loan for that would be a lot less than everything needed to open a Powerhouse gym…[/quote]
A few hundred thousand dollars to start a gym? Lol! Anyway, I spent the past 4 months “unemployed” so to speak after moving from DC back to nothern maryland.
During that time I started a gym and many websites before picking the job of my choice.
Myself and a friend of mine built a personal training studio in a room in his house (300 square feet):
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We got a “light industrial” squat rack, 2 benches and some plates of craigslist for 500$ (ceiling is not high enough for a really HQ rack). Came with a bunch of misc. stuff as well like a smaller straight curl bar, little plates for that, a band, ab wheel, just little things that are useful.
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We got a full DB set up to 100 lbs and two DB racks for about 800$ off of craigslist. Some of the handles were rusted so we filed it down / painted some ourselves.
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We bought rubber flooring from a “Tractor Supply Store”. I think it is supposed to be for horse stalls, all I know is it is the same thing as gym flooring and 1/4th the cost. This ran us abotu 200$ total.
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Various forms (LLC, “health club” registration, contracts, etc) ran us about 500$.
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We got some other misc equipment as well - a few mats, trap bar, texas power bar, and a high quality ez curl bar for about 500$ total.
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A few hundred bucks on various insurances (yearly cost).
So we spent under $3,000 to get the place fully outfitted, and it’s big enough us to both be training clients at the same time. After we set it up:
We made a website (did it ourselves) - neither of us are programmers but it is so easy to do with various page building programs, it’s practically point and click. With a few hours work can right your own sales copy. A website is great because you can advertise on google, yahoo, and msn for next to nothing (.50 cents - 2.50 for highly targeted traffic) while your competitors (big gyms) are most likely too stupid / slow to use internet advertising or can’t make it profitable because they have a poorly converting site.
You can even submit your newly created business to google and yahoo’s local business listings and local people will be able to find it very easily (this is free).
Now we have a gym with absolutely no overhead
If you don’t want to do personal training, you can still start a “warehouse gym” for not much more. Times are tough, and many warehouses have excess space that they will rent to you for cheap. People have been talking about getting 3,000+ sq foot spaces in industrial areas for less than $1,000 a month (a commercial front space can run 5x as much easily depending on location). You could stick plenty of “hardcore” equipment, like strongman implements, a few squat racks and benches and a DB set, in a place that size and have a cheap membership fee and make your money back very quickly.
Once you set that up you can once again advertise on google / add yourself to local business. Internet marketing is the way to go.
Speaking of the internet, it’s a freaking gold mine, and you don’t need a job to participate. Over the past 4 months I’ve been blogging about a completely unrelated hobby of mine (to working out / personal training) and this month am looking to break $1,000 for the first time.
Four months later, I found an agreeable 8-5 job, M-F, in the field I got my degree in (Kinesiology). On the side now I have an overhead-free personal training business and blogs, the monthly revenue of which will be about a 2 week paycheck for me. I expect these two to grow with time (that’s the way they’re headed) and may eventually overtake my current 8-5 job in terms of pay. At this point I could either quit my “real” job and focus on my own businesses, or do both and just enjoy the benefits of my 8-5 (insurance, vacation, etc) and progress my career (via side projects) on my own terms.
Point is, you don’t need to have a job to make money. You don’t need money either. Forget starting a franchise, go your own way, remember one key facet of business:
If you can’t be #1 or #2 in your prospective field, don’t bother. Where I live, there is no such thing as a personal training studio, so we are by default #1. What I blog about, there was really no good blogs prior to mine, so it was only natural that it would be successful. You don’t need money if you can find something that no one else is doing in your area and be the first to do it.