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re: PSA Long OP: Cost of starting my own gym question/s

Posted on 2/13/18 at 4:33 pm to
Posted by TDcline
American Gardens building 11th flor
Member since Aug 2015
9503 posts
Posted on 2/13/18 at 4:33 pm to
Thanks for the info 777.
Posted by Dan Bilzerian
..on my yacht or jet.
Member since Dec 2014
1864 posts
Posted on 2/13/18 at 4:44 pm to
quote:

I don’t want it to be a CrossFit gym. I don’t really care to pay those affiliate fees and I don’t really like a lot of their training methods. I'd like to run a boot camp style operation (similar to CrossFit but safer movements) there’s no need for soccer moms to be snatching weight... But I won’t get all that.


Become an Irontribe franchise.

Like CrossFit, but no Olympic lifting.
Posted by Lazy But Talented
Member since Aug 2011
15077 posts
Posted on 2/13/18 at 5:04 pm to
quote:


Steve Cook also just opened a gym with that type of set up.



That gym looks unreal.
Posted by TDcline
American Gardens building 11th flor
Member since Aug 2015
9503 posts
Posted on 2/13/18 at 5:07 pm to
quote:

Become an Irontribe franchise.


I haven't heard of this. I'll research it.
Posted by tke_swamprat
Houma, LA
Member since Aug 2004
11130 posts
Posted on 2/13/18 at 6:41 pm to
A buddy has a boot camp/TRX gym only had 14 straps. He bought it from previous owner. He will pay himself back easily within the first year. He has classes at 5 & 6am and 530 & 630pm. Has 3-4 other ppl who help him teach when he can’t.
Posted by CorkSoaker
Member since Oct 2008
9823 posts
Posted on 2/13/18 at 6:45 pm to
I think it is s great idea in theory, however I would look into insurance cost first. Could be a deal breaker.
Posted by Walt OReilly
Poplarville, MS
Member since Oct 2005
124694 posts
Posted on 2/13/18 at 7:03 pm to
Sign me up
Posted by lsu777
Lake Charles
Member since Jan 2004
38079 posts
Posted on 2/13/18 at 7:08 pm to
No I am saying do get permits for actual building. Build as a shop/ home gym.

Insurance is covered under his personal training license he should have before doing this. They should offer it. No different than doing training at the park.

Expenses have nothing to do with local building permits but again covered under his personal training llc.

I'm not saying don't form an LLC, you can do that and train people anywhere.

Personal training isnt like a traditional business plan so long as don't say he is turning the shop into a public gym he is fine. Just keep it as a private studio.
Posted by Chad504boy
4 posts
Member since Feb 2005
179059 posts
Posted on 2/14/18 at 9:30 am to
quote:

Insurance is covered under his personal training license he should have before doing this. They should offer it. No different than doing training at the park.


It's a lot different when training on a property he owns. It's called premise liability. Having a business gym on his personal home property will create a headache for his homeowner policy as well when they find out. Plus he'd need a commercial policy for gym as well. All the while, his client basis is tiny and he doesn't want to charge them a lot of money etc. Sounds disastrous.
Posted by TDcline
American Gardens building 11th flor
Member since Aug 2015
9503 posts
Posted on 2/14/18 at 10:02 am to
That’s an awful lot of assumption. I never once said that the land would be the same land as my home is on.

Insurance and utilities seem to be the biggest wildcards. And it is something I thought about but didn’t include them in the OP
Posted by Chad504boy
4 posts
Member since Feb 2005
179059 posts
Posted on 2/14/18 at 10:29 am to
quote:

That’s an awful lot of assumption. I never once said that the land would be the same land as my home is on.


my bad then, it was likely another person's post that led me to a wrong conclusion. If seperated and if you really aren't looking at it as something to "make money" off of,then it may not be too terrible. Build building in cash so you don't have to worry about insuring property, just the GL policy.
Posted by Jim Rockford
Member since May 2011
105316 posts
Posted on 2/14/18 at 11:10 am to
A guy in our town teaches bootcamp style classes at the local HS stadium. No overhead except some rudimentary equipment like sandbags, etc. You might start out that way and get bigger if it takes off.
Posted by gsvar2004
Member since Nov 2007
8871 posts
Posted on 2/15/18 at 1:05 pm to
insurance 1500-2000 a year

utilities 250-500 month depending on time of year

flooring $3 square foot + shipping (or you best deal is tractor supply but youll need to seal it)

occupational licences

property taxes

fees, fees, fees and more fees.

all in all its really not worth the headache regardless of the initial investment.
Posted by TheOcean
#honeyfriedchicken
Member since Aug 2004
45990 posts
Posted on 2/17/18 at 8:43 pm to
You're looking at dropping $25k+ (probably closer to 40k+) and you don't even know if you have one person willing to pay a monthly fee. You also need to factor in advertising costs, startup costs (setting up the company), and probably a few thousand worth of costs you're not even thinking of.

You'll also start paying self employment taxes. And if you live in LA, I'm sure they take their share too. I'd pump my money into something else fitness related and/or start really small and build up a small group of clients.
Posted by Rossberg02
Member since Jun 2016
2591 posts
Posted on 2/19/18 at 5:36 am to
I don’t know if it’s been mentioned before but start small.

You want to do boot camp type training, you won’t necessarily need a building. Stock up on cheap and durable type equipment (tires, ropes, make shift sleds, sandbags, kegs). Grab a few clients to start off at a public park and go to town. Charge low while you have a small base and build from there.

I know this guy is fn batshit weird now but Elliot Hulse had some great videos on doing just what you’re talking about. They’re probably 6-8 years old on YouTube.

Another guy, Zach Even Esh did the same stuff but had a niche in high school/college wrestlers. He was using parks and parking lots and his own garage to get his business going.

Good luck and go for it dude. It will be a fun ride but you have to stay driven!
This post was edited on 2/19/18 at 5:37 am
Posted by Hu_Flung_Pu
Central, LA
Member since Jan 2013
22543 posts
Posted on 2/21/18 at 5:38 pm to
I have a name for your gym, "Can you fitness?"
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