A huge demand for new local community gyms, increased awareness of the importance of health and fitness coupled with the ease of owning and operating a gym.
These factors combined make NOW the IDEAL TIME for anyone to turn their vacant building or room into a profitable business by opening a new gym.
Unlike other businesses that need a high-profile location, a staff of employees and have large ongoing operating costs, a successful gym can be located in a wide variety of locations and operated very efficiently with zero or few employees and no extensive costs. This allows you, as a building owner, to convert your vacant building into an additional source of regular income.
Here are some examples of locations ideal for a gym
Gyms are being put in strip malls and small plaza locations all over the place and for good reasons. The mall location is already established in an area with good traffic flow and greater visibility. If there are existing retail stores or other businesses in the strip mall, people are already accustomed to going there. This brings a ready customer base to target for a new gym in the same shopping complex.
Community gyms need not be large facilities and can be ideally suited for a strip mall space of approximately 2,000 square feet. This allows for a sufficient amount of equipment to provide for a variety of training options for different types of fitness enthusiasts. If there are adjacent vacant spaces in the mall, often the wall between them can be removed to create a larger, open area for the gym.
Something to watch for – Make sure that the ceiling height of your room is at least 8 feet.
Warehouses are other structures that are increasingly being used for successful gyms. A warehouse gym provides a more spacious facility than many other types of gyms and offers a wide open area with high ceilings. The income generated by a warehouse gym can be significant.
The warehouse gym environment is a no-frills one and is a perfect match for various types of training, from general fitness training to athletic performance to personal training and more. Because of this, converting a vacant warehouse space into a gym doesn’t require much money or materials, making it easy to turn a vacant warehouse space into a profitably run gym.
STAND ALONE BUILDING
An unused building that is not part of a strip mall, plaza or warehouse is also a great spot for a new gym. Stand alone buildings offer greater autonomy than connected buildings where certain covenants may be present that restrict things like the outside paint color, parking spaces allowed, etc.
Owning a stand alone building gives the opportunity to create a gym that looks and functions exactly like you want it to.
Something to note – The location of the building is a factor to consider regarding what type of gym it is best suited for.
FORMER BUSINESS BUILDING
Whether standing by itself or situated on a street in a row of other buildings, a building that has been formerly used for another business is already zoned for commercial purposes and can be quickly turned into a gym. Being that the building was previously used for a business enterprise, the building should already be up to code with electrical and plumbing requirements and usually has a bathroom already present. This creates an easy and low cost situation for putting a gym in the former business building.
In certain circumstances, you can get government help or low cost loans because you are using your vacant business property to revitalize the community with your new gym.
Similar to a warehouse space, an available garage offers an easy conversion into an income producing gym. Garage gyms are generally smaller than an expansive warehouse gym and are well suited for personal training studios and other specialized gyms like women’s only gyms, senior fitness gyms, etc. Depending upon the type of gym that the garage will be utilized for, a garage gym may require a bit more in build out than a warehouse gym so that it is less rugged looking. Still, the smaller size of a garage gym allows for such build out to be done without extensive costs.
A garage gym also requires less overall equipment to properly fill it, which means less initial costs and can be readily turned into a money making specialized, smaller gym.
Something to consider – A 2 car garage, (about 20 feet by 20 feet), is about the smallest size for a garage gym. Anything less can be used for one-on-one personal training with a small amount of the right equipment.
UNUSED SPACE IN AN EXISTING BUSINESS
If you own a building that already has a business in it but has extra unused space, putting a gym in will allow you to utilize the once vacant square footage into a profit center. A simple build out to partition off the vacant area from the existing business, provide a separate entry and exit and get the space up to code is needed for this, but it can be highly profitable once the gym is up and running.
The existing business provides a ready pool of prospective gym members right from the outset. This helps defray the initial costs spent to create the gym. As the building owner, the gym gives you another source of income while you are still making income with your lease to the tenant of the other business.
Something to find out – You will want to make sure that a gym is a good use for this unused space and not an interference with the existing business.
In choosing to change your vacant building or room into a gym, remember that successful gyms are found in all different types of locations. Unlike a retail store that depends upon traffic flow and greater visibility, a successful gym can be located in a highly visible location as well as in a more remote one.
Whereas the location of your building is not as important as it is for many other types of businesses, there are two final considerations to look at.
- Interest – Make sure that there is interest in a gym in your area. This can be done by conducting a survey, doing a demographic study, asking people in the area, or simply knowing the needs of the local people. Your new gym can draw members from nearby towns as well, so you may have a greater membership pool than you think.
- New, Modern Gym Equipment – Regardless of the type of gym that you establish or the location, choose ONLY New Equipment with Modern Functions and Styling. This can make the difference in the success of your gym. You want to make sure that your new gym makes the statement that it has the best equipment for the best results. People want to see something both different and special when they first check out a gym. That initial impression can make all the difference in their decision whether or not to join your gym.
A New Gym Specialist will be able to create a Complete Package with the right type, amount and variety of equipment to help turn your vacant building into a special gym that both benefits your local community and brings profit to you.
Written by Bill at BAMPSCO International Inc. / Gymstarters