Are you a sports fan? Marathon runner, triathlete, boxing or pilates enthusiast, and you have made up your mind to open a gym in order to live off your passion?
To help you in this adventure that will ask you as your favorite activity: tenacity, determination, and total commitment, in this article we go over what you need to know (and do) before starting your activity.
We will explore here: the market study, the business plan, the choice of going independent gym or under the gym franchise model, the marketing plan, financing solutions, all accompanied by many tips to succeed in this feat. sporty (though) but entrepreneurial!
Perform Market Research For A Gym
The first step in opening a fitness room consists in carrying out a market study in order to verify the existence of a commercial potential in the area of planned establishment.
For This, You Will Need In Particular:
- Learn about the sector to understand what are the major trends
- Meet your future customers in order to accurately assess their expectations, their budget, and their purchasing habits
- Evaluate the competitive dynamics at the level of the implantation area in order to make sure that the local market is not saturated, and to find a differentiating
Open A Gym: Independent Or Franchise?
You must rely on the results of your market research in order to build a coherent project, define your target and your commercial positioning:
- What audience are you targeting? Young people? Actives ? Seniors? Women ?
- What equipment and courses will you offer?
- How will you differentiate yourself from the competition?
These questions are the basis for defining your business model. Once you have answered it, the moment will inevitably come when you will have to ask yourself the question of opening your gym as a franchise or not.
Joining a large brand means, of course, a loss of independence but also support in the creation of your gym: you can count on the reputation of the network and its communication campaigns at national level, on generally more advantageous prices for the purchase of equipment with suppliers who have already found everything, and benefit from a concept that has already proven itself.
Choosing the best franchise to open a gym usually allows a faster start and a lower risk, but this has a significant cost (entrance fee, annual fee, less autonomy). We must therefore weigh the pros and cons before opting for an independent or franchisee opening.
Finding A Room For Your Gym
Location is a key element in the success of a business and more generally of a place that welcomes the public. It is therefore one of the crucial points of your plan to open a gym.
Opt for a busy place. Keep in mind, however, that densely populated areas with potential customers nearby are often the most expensive. Otherwise, choose a location that is well served by public transport.
Establishing your gym in a residential area is particularly relevant, but you can also choose an office area and aim for a big activity in the morning and evening before and after the working day, but also at noon on the lunch break.
And of course, know that the best place is where there is a high demand and a supply that is not enough to cover it. Make a list of competing establishments nearby before choosing your location.
What Legal Structure To Create A Sports Hall?
No business creation without choosing a legal status! So you will need to think about what type of business you want to start.
The choice of legal status is not without consequences since it impacts, among other things, the tax system, the social system of directors, and governance.
Many options exist: sole proprietorship, with or without limited liability, micro-enterprise regime, simplified joint-stock company or single-member simplified joint-stock company, limited liability company, etc. Choose the solution that will be most suited to your project .
The Human And Material Needs To Open A Sports Hall
The next step in opening a fitness franchise is to assess the human and material needs necessary for the activity to function.
This step is a prerequisite for drawing up a serious and realistic financial forecast.
The Material Investments Required To Launch A Sports Hall.
Creating a gym involves a great many, and expensive, development and equipment costs.
You will have to plan:
- Infrastructures for changing: changing rooms with lockers, and possibly cabins
- Toilets and showers
- Sports equipment: unique stations, free weights, cardio machines, and anything else that might be necessary for your commercial positioning
- The layout of the reception: counter, telephone, computer station, payment terminal, access controls, etc.
- Safety equipment (theft, fire, first aid)
- The possible purchase of training program licenses
- Promotional material: sign, signage, website, etc.
- Equipment for the administrative part: computer station, office equipment, software, etc.
- Drink and energy bar dispensers, and the stock for the sale of accessories if necessary