The only gyms within 10 miles of my house are one that is exorbitantly expensive, and a Planet Fitness. While it’s been frustrating for me as a consumer, I see a business opportunity. I want to start a small gym in my area. This is a part of my informal market research. I especially hope to get some advice from gym owners.
I want to purchase a small industrial building and focus on free weights. However, people that I have spoken to say that at least some machines like the leg press are necessary for a gym to be commercially viable. I agree. What pieces of equipment do you think are non-negotiable for a gym to have, even if it’s barebones? I mean machines especially.
Many of these reasons simply do not apply to me. I am studying to be an accountant and hope to open my own CPA firm one day. I don’t hope to get wealthy by starting a gym. It would be more of a “labor of love”, like he said. I modest profit is all I need.
The market in my area is not saturated. There is one gym in my town and a crossfit center. The one gym costs $54 at minimum per month. The gym nearest my town is a Planet Fitness, which is of course terrible. It’s also 9 miles away. To be fair, I live in a rural area so population might still be an issue; but I hope to get a location on the nearby highway where it would be more accessible to people from other towns.
The bills will be a problem, but the spaces I am looking at are small with a small monthly rent. I laughed when I saw the $16,500 number in the article: it’s out of left field for my situation.
I couldn’t begin to guess about the commercial viability for you.
It is my uninformed guess that the owner of my local club runs it as a hobby. He seems to be a man of some means and, as you can see, it is all top shelf equipment. That’s just my hunch.
He charged $35 a month when I lifted there but I think he’s up to $40-$45 per month now. Membership gives you a 24/7 access and the place runs on the honor system.
L/A Strength Club is the name. Maine, not California. You could always reach out and ask to pick the owners brain. He’s a hardass, but a very helpful one to anyone serious about their lifting.