Starting your own gym business would not be a much hassle for you as it can be started with a not much expertise and less staff and with less investment. All you need to have is a passion for providing good health, maintaining services with a facility center that is attractive, accessible and affordable to the target audience.
HEALTH CLUB PROFESSION IN US:
The fitness industry has seen an upward trend in the US in the recent years as compared to the other countries in the world. In US alone, there are 38,477 numbers of health clubs in 2017. In the US the total revenue of the health club industry alone reached to US 30.01 billion in the last year. The US health center market consists of more than 3,000 memberships based exercise facilities. Employment is expected to grow as fast as the average for all occupations through 2024.
ADVANTAGES OF STARTING HEALTH CLUB BUSINESS IN US:
- CNN Money magazine identified personal training as one of the top 20 professions in the country due to low stress and positive impact on others.
- It is one of the fast growing career in next 20 years.
- You will be flexible enough to create your own work schedule once you start a fitness center.
- Not only you are earning but getting tangible benefits by seeing your customers achieving their desired target.
Following are some of the statistics of the US health club market showing the upward marketing profession of the industry. If you are looking to start a business as a Health club owner, then statistics can help you access the viability of your idea.
HOW TO START YOUR OWN HEALTH CLUB BUSINESS:
Now you have seen the positive progression in the fitness industry, you have made up your mind to launch your business. The first step would be how you are going to it. What are the perquisites of starting a new business from scratch? We have listed down the requirement for your business help.
Start from a Business Plan:
A business plan contain all the details, ideas, your business prospects, finance needs, risks involves in starting a new business. It also mentions details of the market analysis, your competitor’s information, finance needs and much more. Write your ides, study about your competitors and perform a feasibility study for new business.
Determine Your Startup Cost:
As a Health Club business involves the use of specialized exercise machines, costs of all the equipment should be carefully taken into account. Facility center rent as you will be needing a proper place for your fitness center, equipment purchase cost, equipment installation cost, physical safety costs (fire extinguishers, first aid), advertisement costs (brochure, newspaper) are some of the cost that you are needed to take into account while determine your set up costs.
Target the right audience:
Here comes your expertise of analyzing people’s need of selecting a suitable fitness program. For example, some middle aged audience like to use cardio, yoga exercises. Ladies usually are interested in aerobics, Zumba, yoga. Teenagers like to avail the cycling, treadmill facilities. You have to carefully evaluate the different options and then try to provide the required facilities by keeping in account your finances, location space etc.
Do a market research:
Talk to people in your area about their preferences. Have conversations with your competitors in the area and observe their fitness centers, equipment and facilities. A question about which specific fitness areas people are more attracted to like swimming, Zumba, cardio exercises. Where in the area their fitness centers are located. Which options are more profitable one.
Find a suitable location:
You have a business plan ready, you have analyzed your competitors and person's preferences, now the next step is to find yourself a suitable location. You will be needing a location with sufficient space for different facilities and spacious enough to accommodate all the gym equipment. You can also find a location that is accessible by road. Car parking space availability is a plus for your business. Further, you need to have separate halls or rooms for different exercises and training programs. Find yourself in a location that caters all these requirements.
Equipment Purchasing:
The Health club is a specialized field that requires specialized equipment. You need to carefully manage your budget at this point of time as the equipment are costly and required certain safety measures to operate. Make sure to balance your costs with the income generated in order to avoid negative cash flows. Further, you can also look into rented equipment options. Make sure your client safety is your priority.
Obtain Financing:
You may look into option of obtaining small or medium term finance for your business. Make your business plan accordingly and carefully budget your requirements specially equipment purchasing and location.
Obtain certification and required training:
To be a fitness trainer, you first need to be physically fit as you have to serve as a role model for your client. Although not necessary, but train yourself up for a professional certification can enhance your credibility and your health club's reputation. It indicates that you have the skills needed to work in this occupation
Hire Trained Staff:
Hire certified fitness instructors, trainers who can help clients in the most effective way. You can make a hiring plan, as full time and part time instructors as per your business needs. Hire people with CPR, first aid and AED certification or at least training. People who are physically fit, have a high school diploma to work as fitness trainer or who have majored in fitness or health related field should be your preference.
Insure Your Business:
You need to cover your business by looking into the insurance requirements for your state and the available insurance to protect you against workplace injuries and accidents.
