I know that there are a couple of gym owners on this forum, and I would appreciate your input on this issue. I have calculated that if equipment will cost around $60k if I get everything new from Elite FTS. If I buy used equipment, I expect to pay around $50k, but I am budgeting for $60k. What other expenses should I expect to encounter, from startup costs to recurring ones?
Regarding startup expenses, I am aware of permits, licensing, marketing, and miscellaneous things to get the gym set up, like flooring and decorations. I havenāt priced these things yet, though.
The recurring fees I am aware of are rent, utilities, insurance, and gym management software. I hoping not to have to employ anyone in the beginning.
I am sure that I am missing a good number of expenses. What else should I expect to encounter? With that knowledge I can map out how much I would need to charge to break even.
Thank you.