10 Reasons why opening a gym is a smart business opportunity.
With an ever-growing number of the people engaging in a regular exercise program, the gym and health club industry has grown to more than $80 billion US in revenue per year and shows No Signs of slowing down. If you are considering becoming an entrepreneur and owning your own business, opening a gym offers a fantastic opportunity for you that you will not find in any other type of business or industry.
Below is a list of the first 5 Reasons why opening a gym is your smartest business opportunity today. Part 2 will discuss Reasons 6 through 10.
Reason #1 Keep Your Day Job
Unlike other business opportunities, the gym business allows you to keep your regular job for as long as you like while you are reaping profits from your gym. With a gym, you don’t have to be present at the site to oversee operations, (although you may have a hard time not wanting to go there to enjoy the enthusiastic membership and friendly environment). This allows you to let your new business grow while you are still earning your regular, steady income. The profits from your gym can be used as your additional income stream or you can put it back into your gym for marketing without affecting your income that you are accustomed to. At some point, you may want to leave your job and go full time in your gym, but you can do that when the time is right for you.
Reason #2 Zero or Few Employees
Any business owner will tell you that one of the most difficult parts of owning a business is finding and retaining good employees. Most types of businesses require and rely upon a large employee base in various positions or departments to perform tasks for their daily operations. Although you can fashion your gym in a similar structure, it’s not necessary for many types of gyms. The gym business eliminates the never-ending hassle of dealing with employees because you can successfully operate your gym with very few or even no employees, depending upon the type of gym that you have. From 24 hour key access gyms to personal training studios to group fitness training gyms and more, there are many types of gyms that give you the freedom to operate with no employees. This means no payroll costs, no workmen’s compensation claims, no employee theft, etc.. This streamlined business approach results in more profits for you.
Reason #3 Huge Customer Base
Although you can open a specific type of gym to cater to a specific client base, the gym business is NOT a niche market. Everyone – EVERYONE needs to maintain their health and fitness for a better life, and people all over the world are signing up to gyms in large numbers to enhance their lifestyle. Unlike other businesses that offer only a specific product, your market is HUGE with a gym because you can target any number of people by offering a variety of equipment for different training preferences. A New Gym Specialist will be your key asset in helping you with the right type and variety of equipment that’s tailored to meet the specific needs of your new gym.
Reason #4 Rapid Growth Industry
The fitness industry continues to explode in growth every year as it has done for decades. With more and more people taking an active role in maintaining their physical wellbeing, the need for new gyms to meet the increased demand remains very strong. No longer are gyms found only in large cities. People living in small cities and rural towns are looking for a convenient local gym where they can get their regular workout in. Opening a new gym in one of these towns or smaller cities is a great opportunity to take advantage of this demand.
As gym memberships have continued to demonstrate for decades, fitness is NOT a trend. In deciding to open a new gym, you are capitalizing on a business opportunity with a well established track record and a well defined and growing market.
NOTE: Although fitness and gym memberships continue to grow, training methodologies change over time. Many of these changes are trends that capture a segment of the population for a short amount of time until the newness of the workout wears off. For a sustained, profitable gym, it is essential to feature the proper mix of equipment that people are accustomed to using, even if you want to have a separate offering or section for what the current trend is. This way, you can develop your business with essential, user friendly equipment choices for long term success. Your New Gym Specialist will be able to put together a Complete Package for your new gym with the proper selection of equipment.
Reason #5 Give Back To The Community
A gym is different than other businesses in that it provides a unique place for people to engage with other like minded people in an high energy, enthusiastic, health conscious environment. As a gym owner, you become a vital member of your community, giving back to the community by establishing this special place for their health and wellbeing. Whether tying in with the local school athletic teams, offering special rates for local businesses, having group fitness classes or specializing in helping various segments of the local population, your gym is an asset that benefits the entire community.
You can read about how your new gym can help with the revitalization of a community – This article explains how you can breathe new life into a depressed community with your new gym while running a successful and profitable operation.
The second Part of this series will explore Reasons 6 through 10 showing why opening a gym is the smartest business opportunity available in today’s market.
Written by Bill at BAMPSCO International Inc. / Gymstarters