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How to starting a gym business plan

: 2018-09-21 14:53:25 | : 267

 The increase in concern about physical appearance and health has triggered the demand for sports services companies. Standing up in a gym is today one of the options with more expectations for the future for the small and medium entrepreneur.

The growing interest in health makes opening a gym a good option, as long as we have the competition in sight and the importance of building customer loyalty. If you are interested, here you have more information that complements that of this report.

Everything suggests that the number of athletes will increase because sedentary life makes us go more and more to the gym to move the body.  However, regardless of more or less changing motivations, there is no doubt that we can say that we are at a good time to open a private sports center.



Gym Business Plan

According to studies from 2002, there are more than 2,800,000 people who regularly attend high-performance sports clubs such as gyms.

 

Every day the number of people increase since fitness has ceased to be just a physical exercise and has become a new lifestyle concept closely related to health, wellness and body cult. For the future, many say that the number of athletes will increase because sedentary life makes us go more and more to the gym to move the body.

Today the motivational elements for exercise have increased with the opening of a private sports centre known as gymnasiums; some say that now is a good time to open a private sports facility because the market is very receptive, people think more about taking care of themselves and there is a lot of potential for future growth.

According to specialists in the subject, they say that it is possible to reach the expense incurred from the second year and obtain real benefits or profits from the third year of the assembly of the gymnasium.

The percentages in profit depend on the service offered, for example those that are conceived as self-employment, are those that reach lower profits, since they are between 5%-6%; those of medium service with a surface between 500 and 1.000 m2, divided their creation between self-employment and business reach between 10%-12% of real profits.

Finally, the large gymnasiums, which require heavy investment and occupy a space of 1,500 to 2,000 m2, have structures with performance on a scale and can achieve up to 20% profits.

Keep an eye on the competition

Before setting up a sports centre, it is essential to know where the nearest public sports centre are, as well as their pricing and service policies.  It is also more than convenient to approach the town halls and consult in their urban development plans if more public facilities are going to be built in that area in the next five years.  It is also advisable to visit the neighborhood in order to detect the existing private facilities and find out about their offer, their public and their commercial policy, so as to be able to differentiate ourselves from them with greater guarantees.

Customer service

In addition to those mentioned, other aspects that must be taken into account when setting up a gym are:

Define your clientele well: In the Municipal District Boards or in the town halls you can request the census of the population, in order to determine which will be the target audience of that facility.  It is important to know if there are many businesses in the area, to design specific activities during the closing hours of these businesses.  Companies can also be approached with special offers, as there are many potential customers, and also very loyal, who advertise you among their coworkers.  To attract customers, the price factor can be fundamental because most do not distinguish between products, although this is the only determinant depending on the competition that arises.

 

 

Look for recommendation: It is very important to create and maintain loyalty policies, constantly renewing them, making the customers feel happy and giving them what they demand of us. Thanks to good management, the customer will not only have repeated consumption but will serve as a commercial spearhead in the expansion of the business, will make word of mouth work. Boredom is one of the "beasts of the gymnasiums", which see their number of members decrease as the year progresses. To avoid this, many sports centres offer a more advantageous annual fee than if it is paid by months or quarters.  

Advantages of a Gymnasium Plan

To succeed in this business and obtain greater benefits and advantages is essential to choose well the place where it will be set up and located in addition to having good professionals, have management training, make an analysis of the sector and have the necessary technical advice, among other things.

A very valuable advice of what are immersed in this type of business for which it is not that if you do not know the sector, it is advisable to seek technical advice or enter through a franchise, as sometimes it is the best way to get right in the design of scheduling schedules, set prices for quotas, distribution of space for different activities, the right sizing between the number of square meters and the number of partners, and so on.

Disadvantages of business plans in Gymnasiums

One of the disadvantages of these businesses is that they are part of an unstructured sector, which is struggling to get out of certain agreements to create its own, for example in past years, they were favored by the reduction of VAT from 16% to 7%, although it is almost impossible to get aid or funding, as they do not exist as a sector, even though it is considered by the EU as one of the ten largest sources of employment.

Moreover, there is no guarantee that the administration will do the same with public money and at a price four or five times lower than other types of business. Some small and medium-sized gyms, when they open, go through difficulties and even some close, due to the unfair competition of the public sector, which is competition.

Competition, this is a very important factor and must be taken into account before setting up a gym so it is essential to know where the nearest public sports centers or gyms are, as well as their pricing policy and services.

Once the two previous disadvantages have been taken into account, it is recommended that you approach the town halls and consult their urban development plans, that is, check whether more public facilities will be built in that area for at least the next five years.

It is also advisable to visit the area in order to detect the existing private facilities and find out about their offer, their public and their commercial policy, so as to be able to differentiate oneself from them by offering greater guarantees.

 

Financial Analysis of the Gymnasium Plan

When setting up a gymnasium it is important to take into account some aspects such as the following:

 

Defining your clientele well, this can be done by requesting the town council the population census, so you can determine what will be the public objective of your facilities.

Investigate the timetables of the surrounding shops in order to design specific activities at the closing times of these shops. See this as an advantage as companies can be approached with special offers and with many potential customers who in turn advertise recommending your gym with other colleagues.

To attract customers, the price factor can be crucial because most because sometimes customers do not distinguish one product from another, although this point is the only determinant depending on the potential competition that arises.

Offer annual payment plans or rates, these rates are more advantageous if you are paying by months or quarters and attract customers.

If you are interested in starting a gym, you can contact us. We are a fitness equipment sales company, we offer free gym design.

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