Frequently Asked Questions On Starting a Gym Business

As a New Gym Specialist, I help people open their gyms by providing the expert advice needed in order to make your new business a success. With that we’ve put together a list of frequently asked questions.

 

Why do I need to tell you my budget for equipment?

Some people are reluctant to divulge how much they are willing, (or able), to pay for their gym equipment Package.  They feel that if they say how much they are considering spending, the person who is selling them the equipment will charge them more because they know how much that they can spend.  They prefer to keep their equipment budget a secret and just see how much the equipment costs.  There is a reason why we ask this for information…

There are various lines of equipment, each with their own price point.  A New Gym Specialist will work closely with you to make sure that you get the best possible equipment Package that fits your budget.  Without knowing what your budget is, it is impossible for him to select the proper line that he knows will best fits your specific needs and stays within your budget.

HELPFUL HINT:  If you are worried about telling someone what your equipment budget is, you should NOT work with that person.  You need to speak with a New Gym Specialist first and develop a comfort level with them. Read testimonials, check references and only use someone who has been helping people for decades. 

Once you are comfortable with the person, let him know your budget and then let him do what he specializes in – creating a Complete Gym Package that is just right for you.  Remember that divulging your budget doesn’t obligate you to spend it.  It’s just necessary for you to get a proper quoted Package.

NOTE:  The right person will be concerned about the long term relationship with you and the long term success of your gym.  He will NOT try to hit the top end of your budget.

How do I determine my budget when I don’t know how much equipment will cost?

If you do not know what your budget for equipment is, you WILL KNOW how much is too much for you to spend on your equipment.  Use this figure as the amount for your top dollar figure for your equipment.  Anything over that amount is more than you can, or are willing to spend on equipment.  This is your maximum amount figure that you can afford. Using that number you’re able to work backwards when creating your complete Package.

 

Can I assemble the equipment myself or should I pay for professional assembly?

High quality gym equipment is shipped disassembled and in boxes in order to control damage in transit and for ease and cost of shipping.  Most people prefer to assemble the equipment themselves, using friends with an aptitude for putting things together.  This saves quite a bit of money over having a professional assembly.  However, it does take a bit of time to get the hang of assembling the various machines, so you will want to allow for a few days or so to get it all put together and set up, depending upon how large your equipment Package is and how many people you have helping you to assemble it.

In the fitness industry, there are two kinds of professional assembly.

  • On-Site Assembly – This is when one or two trained technicians assemble your equipment after you have brought the boxed equipment into your gym space. This is the most common way of having professional assembly and generally costs about 9% of your total sale price for the equipment.
  • White Glove Assembly – This is when one or two, (or sometimes more), trained technicians meet the delivery vehicle(s) and unload them, take the boxes into your gym space and then assemble it. This can be pretty costly because of the extra labor in unloading and carrying the boxes and because it requires the technicians to coordinate the timing with the delivery company, which isn’t always easy to do.

 Frequently Asked Questions when opening a new gym

What does leasing equipment mean?

In the fitness industry, leasing means financing to own your equipment.  It is a convenient way for people to get their equipment without spending much of their upfront capital to do so.  If you don’t have the money to purchase your equipment with cash, leasing allows you to make monthly payments to a funding source while having the equipment and making money with it with your new gym.  Leasing is one of several ways that people find the funds to purchase their gym equipment and, like with all funding, it has it’s pros and cons.  The pros and cons, and comparisons with other funding sources can be read here in a more detailed explanation of leasing.

 

Is there any real benefit to buying equipment from a local company?

Like with so many businesses in this day and age, the internet has made it both possible and easy for someone to research and find their best deal in gym equipment Packages. The internet also keeps prices in line because sellers need to be competitive with one another.  Local stores have higher operational costs than internet companies, (employees, inventory, selling mandates, etc.), which can make them need to sell their equipment at a higher price.

HELPFUL HINT:   Work only with a New Gym Specialist when purchasing a gym Package.  NOT everyone who sells gym equipment on the internet is a New Gym Specialist.  Internet sellers who sell single pieces or very small quantities are not New Gym Specialists.  You want to make sure that you are working with someone who specializes in creating complete gym Packages for people to open gyms.

The idea of buying locally because you can meet that person is negated by developing a solid relationship with a New Gym Specialist who will prioritize your needs over sales figures.

 

How do I get a layout of my gym space?

 Once you know the square feet of your room and your budget, you can put together a general room layout of your space.  To determine the square feet of your gym, take the length in feet times the width in feet.  To do a room layout with some standard room sizes so that you get a good idea of how much equipment it takes to properly fill the space, by using our custom floor planner you can get a good idea on what equipment fits in your gym

Your New Gym Specialist will also be able to let you know how much equipment is needed for your specific space.

Written by Bill at BAMPSCO International Inc. / Gymstarters