10 Reasons why opening a gym is the smartest business opportunity today
In the final installment of this series relating to why opening a gym is the smartest business to open today, Reasons 6 through 8 list the financial benefits compared to other types of businesses and Reasons #9 and #10 explain additional benefits. These benefits, demonstrate the great opportunity that owning a new gym is for anyone wanting to increase their income in a vibrant, fast growing industry. Don’t forget to read part 1 of this blog post!
Financial Benefits to Opening a Gym
Reason #6 Low Start Up Costs
Often, starting a new business venture requires a large initial investment. A restaurant, for example, needs a large influx of money up front for all of the back end operational hard goods, (appliances, stoves, refrigeration units, prep tables, sinks, etc.), and also for front end items as well, (dining tables, restrooms, booths, greeting desk, cashier stations, etc.). Even for a small restaurant, this can add up to a lot of money required just to get ready for business. Add to this the cost of employees, (wait staff, cashiers, cooks / chefs, cleaning staff, management, etc.), and you can see that you need a lot of money to open a restaurant.
The gym business requires much less of an initial investment. A gym doesn’t require fancy lighting, plush carpeting or any of the other things that a lot of business need. With a gym, it’s the opposite. Members are seeking an open feel, bright lighting and an atmosphere conducive to training.
NOTE: Members DO want new State-of-the-Art gym equipment and that is essential to your gym’s success. By working with a New Gym Specialist, you will be able to get a Complete Package of new State-of-the-Art gym equipment for your gym at Significantly Discounted Package Pricing. So, even loading your gym with the right equipment to attract and retain members is easy and affordable.
Reason #7 Low Operating Costs
Many businesses require a large reserve of funds for regular ongoing operating expenses. To continue with the restaurant comparison, besides the large weekly payroll for the staff, the goods are consumable and/or perishable. This means that money is continually spent to replace goods.
With a gym, your equipment is built to last for years. There are no perishables or consumables unless you want to offer health drinks and snacks. Some incidental things like cables and wear items will need replaced over time, but the cost is very little for these things. Once you have your Gym Equipment Package, you won’t need to purchase more equipment. This, plus the fact that you need very few or even no employees, means that your daily operational costs for a gym are kept very low.
Low Operating Costs = More Profit for You
Reason #8 NO Franchise Fees
Unlike years ago, today’s fitness member is well educated in what type of training they prefer. They are seeking a gym that fits their needs and that has a line of modern State-of-the-Art equipment that they can train on. The days of needing a known name on your gym to be successful are over. From small community gyms to warehouse gyms to specialized boutique gyms and personal training studios, the equipment and training atmosphere are the most important parts of the gym.
For the gym owner, this means that you do not need to pay the initial franchise fees or the never-ending monthly franchise fee to a headquarters just for the use of their name. In fact, when you take into consideration the costs, (both initial and ongoing), of opening a franchise gym compared to the possible benefits of having a franchise gym, it’s easy to see that the benefits of a franchise do NOT outweigh the costs.
Don’t get fooled by the franchise lure. If you want to be a gym owner, own a gym where you have total control over what your gym is and does and one where you don’t have to siphon part of your profits away every month.
With the help of a New Gym Specialist, opening a gym is easy, affordable and can be a very profitable business for you.
Additional Benefits to Opening a Gym
Reason #9 Fun Work Environment
One of the most pleasant aspects of owning your own gym is the work environment itself. Whereas some industries are fraught with employee discord, office politics and other things that make the work environment unpleasant or even toxic, a gym is a place where upbeat, energetic people join for a positive experience every day. No matter their specific training preferences, they all have one thing in common – enhancing their lives through a regimented fitness program in your gym. The gym is a fun, vibrant and positive environment to be in every day.
This positive atmosphere creates a low stress work environment for you, the gym owner. As with any business, there will surely be times when things need to be handled by the owner, but, as a whole, gym ownership offers a lower stress work environment than many other business opportunities.
If you, like many gym owners, are keeping your day job while owning your gym and using your gym as a lucrative additional revenue stream, you will be able to enjoy the enthusiastic feel of your gym whenever you are there.
Reason #10 Opportunity For Expansion
Because of the growing interest in fitness and the continuing demand for modern, well equipped gyms, once established, you can expand by opening subsequent gyms in nearby areas to your existing one. Expansion is an opportunity – NOT a necessity. Set up right and run properly, a single gym can provide you with an excellent income.
Opening a subsequent gym is an even easier process than opening your first gym because you have already demonstrated your capabilities to run a successful gym to any funding sources and you know the ins and outs of operating a gym.
In reviewing these 5 Reasons for opening a gym and the 5 Reasons detailed previously, you can see why opening a gym is the smartest business opportunity today.
Written by Bill at BAMPSCO International Inc. / Gymstarters