- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Any Entrepreneurs out there...
Posted on 2/1/18 at 9:42 am
Posted on 2/1/18 at 9:42 am
Working on my B.S. in Fitness Studies and Entrepreneurship and I plan on opening up my own gym/ training facility. Anyone successfully opened up a business that has any legitimate tips?
11
Posted on 2/1/18 at 10:08 am to muricanman
I’ve never done a store front. I just do mobile windshield work but own the business. So I couldn’t tell you much, but I can say to advertise even with a store front. I’ve done great with radio even though people swear it’s out of style, also magazines, especially women’s magazines I’ve had better than expected results. So many places open up but never advertise and I always forget about them even if I do drive by their location often.
Posted on 2/1/18 at 11:16 am to muricanman
quote:
Working on my B.S. in Fitness Studies and Entrepreneurship and I plan on opening up my own gym/ training facility. Anyone successfully opened up a business that has any legitimate tips?
It will be hard to make money if you don't have volume as glfar as memberships. A good way to increase profit it sell high margin items in a storefront like protein bars/powder.
Where do you plan on getting the cash to start up?
Posted on 2/1/18 at 11:19 am to muricanman
quote:
Working on my B.S. in Fitness Studies and Entrepreneurship and I plan on opening up my own gym/ training facility. Anyone successfully opened up a business that has any legitimate tips?
Pretty crowded market. I'll say go where the money is not necessarily where the "sexiness" is. Such as there are probably numerous gyms aimed at 20-45 year olds but what about doing private training only gym in a nice part of town aimed at 40+.
Posted on 2/1/18 at 12:14 pm to Mingo Was His NameO
quote:
A good way to increase profit it sell high margin items in a storefront like protein bars/powder.
This is good advice right here. I'd even consider adding a simple smoothie concept; maybe let someone run it. Have them pay you for the space they lease and a % of profit
Posted on 2/1/18 at 1:30 pm to Sterling Archer
I think you should take your gym to an online marketplace. Create a mobile app that can build your body on the go or from the couch just using your thumbs. You could use that guy from the flex seal commercial and do an infomercial with Mark Cuban telling you “I’m In!” While a body builder in the background is pumping mobile iron while putting his shake weight in the trash.
Millions! Could be billions if you could get Mr. T or Jesse “The Body” Ventura on board.
Millions! Could be billions if you could get Mr. T or Jesse “The Body” Ventura on board.
This post was edited on 2/1/18 at 1:36 pm
Posted on 2/1/18 at 2:00 pm to barry
I realize that it's a crowded market and that's why I want to have a specific personal training aspect. Everyone is making a push for the gym aspect but not necessarily the training part. I should have been more clear in the OP but the training focus is for aspiring athletes. I have connections with certain college and professional athletes that are willing to help out spread word.
Nutrition bar is definitely something I've put thought into and I've been leaning towards letting someone else run that, unless a better option presents itself.
Nutrition bar is definitely something I've put thought into and I've been leaning towards letting someone else run that, unless a better option presents itself.
Posted on 2/1/18 at 2:06 pm to muricanman
quote:
I should have been more clear in the OP but the training focus is for aspiring athletes. I have connections with certain college and professional athletes that are willing to help out spread word.
I'd say the key will be you having to build your brand. Pretty much taking on anyone for free to get your resume built up. I imagine there are plenty of HS parents living vicariously through their kids who are willing to pay ridiculous prices to get some cash flowing in the door.
This post was edited on 2/1/18 at 2:07 pm
Posted on 2/1/18 at 2:09 pm to muricanman
You should probably work for a company/someone for a few years so you can learn how to actually run a business - it's not taught in college.
Posted on 2/1/18 at 2:13 pm to cwill
Definitely trying to work for other people. I've shadowed the guys at traction and I'm trying to get in with Gold's now
Posted on 2/1/18 at 4:11 pm to muricanman
Do you plan to franchise a national gym (OrangeTheory, Snap, 24-Hour, etc) or build your own personally branded one? It Takes a lot of overhead either way.
I know a guy who owns his own place and is currently trying to get out. He makes money but it’s a ton of work and a lot of ups and downs.
I know a guy who owns his own place and is currently trying to get out. He makes money but it’s a ton of work and a lot of ups and downs.
Posted on 2/1/18 at 5:53 pm to muricanman
Biggest thing I would advise is not to concentrate on WHAT you sell. Concentrate on WHY what you sell benefits the customer. Saying you want to specialize personal training is part of it, but not WHY the customer should come there. People will pay you money to have a great EXPERIENCE. That is what takes the hard work. You want to earn peoples trust and have them committed to your gym. Some people love having the best location, some equipment/amenities, some culture. It can be different, but you need it to be clear and be committed to it. It could be multiple things. Gyms nowadays are a saturated business. You can make it, but it will take an identity, marketing, and clear benefits to the customer. In today's world of online research and reviews, customer experience will make or break a new business.
Posted on 2/1/18 at 7:16 pm to Slickback
Definitely want to open my own and not just franchise one. What made the guy change his mind about his place?
Posted on 2/1/18 at 7:20 pm to muricanman
I hope they taught you that your first business should not require high capital and high overhead
Posted on 2/1/18 at 7:20 pm to muricanman
Who is your target market? Male or female? Young or old? Already fit and like working out or the New Years crowd?
Posted on 2/1/18 at 10:02 pm to muricanman
Not sure if you've ever heard of Christian Guzman but he's got a youtube channel and owns his own gym and gives a lot of insight into the numbers behind it. Could be pretty valuable for someone looking into getting into that area.
Posted on 2/2/18 at 10:34 am to muricanman
Sounds very captial intensive. Where will you get the money to lease/buy a building, equipment, building finishes and hire help? If it's one thing that I learned, is that banks want collateral, and lots of it. You either better have lot's of cash or parents with deep pockets that would be willing to co-sign a loan.
Posted on 2/2/18 at 4:22 pm to muricanman
quote:
why I want to have a specific personal training aspect.
I am actually thinking about doing something like what you are talking about when I retire and move back home to LA. It's going to be more of a lifters gym (aka powerlifter gym) with boxing/BJJ classes as well since I am a former boxer and will have my Black Belt when I retire. Might even pull in my best friend who will be retired from the DEA about the same time and do some tacti-cool shite.
Good luck.
Posted on 2/3/18 at 6:16 am to muricanman
You kneed to understand how the healthcare market impacts your business. My local independent was crushed by health plans offering free membership to any of several chains. Membership dried up in a year—ppl could go to Snap, Anytime, etc without a membership thanks to their health plans, so they dropped their contracted membership at the (arguably better equipped and staffed) They could also use the independent gym (owner contracted w several big health providers) but only got paid when the person actually went to the gym. So the place closed and owner reopened as a yoga/Pilates studio.
Posted on 2/4/18 at 5:41 pm to muricanman
Opened a business in June of 2016. Have spent $20 on advertising. Do not own a storefront. Do not own a laptop. Run the entire thing off my phone, a tablet and a Brother Printer leveraged with a DropBox Pro Account.
It’s been better than expected and-maybe the best part-consistent.
I’ve also kept my fulltime gig which I completely work around which still pays far, far better and will continue to for the foreseeable future.
It’s been better than expected and-maybe the best part-consistent.
I’ve also kept my fulltime gig which I completely work around which still pays far, far better and will continue to for the foreseeable future.
This post was edited on 2/4/18 at 5:49 pm
Page 1 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News