To start a gym, write a business plan, secure financing, obtain the required licenses, find a location, purchase equipment, and hire staff. Consider starting a niche gym, such as one focusing on boxing or women’s health.
- Write a business plan
Develop a business plan detailing the type of gym you wish to open. Your business plan should include important elements such as purchasing equipment, selecting a location, determining your target market, and anticipating expenses and projected profits.
- Secure financing
Use personal savings, or meet with investors to secure funding for your project. A considerable investment may be needed to purchase or lease a space, purchase equipment and hire staff.
- Obtain the required licenses
Do research on the requirements for registering a business name in your state. Get a tax identification number, and obtain a business license for your gym business. Find out what insurance is most suitable for a gym business.
- Find a location
Hire a realtor to help you find a suitable space for your gym. Ensure that the space is large enough to accommodate a locker room and gym equipment. Consider special requirements, such as space for yoga, cardio and spin classes if you plan to offer these. Keep future expansion in mind when choosing a space for your gym.
- Purchase gym equipment
Purchase equipment that matches your clients' needs. This includes cardio equipment, free weights and resistance training equipment. Include exercise mats in your purchase. Opt for high-quality equipment, with good safety ratings.
- Hire staff
Hire qualified employees, such as personal trainers, a membership sales consultant and front desk staff. Advertise your business, and offer bonuses and discounts to attract first-time customers.