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Message
re: OT Workout Crew - Would you leave your current gym/health club...
Posted on 4/28/16 at 8:46 am to lynxcat
Posted on 4/28/16 at 8:46 am to lynxcat
quote:
What's the upfront cost of that equipment? Rent for the space?
After rough pricing for total equipment, Im looking at around 22-25K. I am considering using a close resource to me (metal building contractor that I know very well) to do a slab and building for me. I also have another very close friend that would be able to do dirt work and foundation. I have an eye on a small piece of land in a decent location within 5 miles of I-10 access for a great price. I have not sat down yet and really got into the finances and total cost. I could possibly be living in a situation where Im living in zero debt in the next year which Is why Im even considering it. Right now, Im in the phase of testing the amount of interest people would have in it. Over the next few wks I'll sit down with a notebook and start really crunching numbers to even see if it's possible (which it very well may not be). But you have to dream right? Why not dream big.
0
Posted on 4/28/16 at 8:50 am to SabiDojo
quote:
Marketing and brand identity are your only chances of making it
Yea, I know I'll really have to be smart and think outside of the box and push it hard. The appeal would have to be it's uniqueness, the atmosphere and the quality of the equipment. Im not sure if that's enough considering my self-limited market.
Posted on 4/28/16 at 8:52 am to CptRusty
Let's say you could get 100 baws to switch over from reds to your place. That is $5,000 month in revenue. Hardly enough to pay rent on a decent building...pay down your start up debt...pay for expenses (like AC )and insurance and still pay yourself a livable wage.
You would need triple those numbers to have a viable business. I doubt there are 300 people in Laffy looking to be a part of a powerhouse type gym at $50 a month. You might be able to get there eventually but it could take years.
You would need triple those numbers to have a viable business. I doubt there are 300 people in Laffy looking to be a part of a powerhouse type gym at $50 a month. You might be able to get there eventually but it could take years.
Posted on 4/28/16 at 8:52 am to dnm3305
Serious question: have you ever worked in a gym, or in the fitness community at all? Or are you just thinking "hey, it would be cool to own a gym, how hard could it be"?
I didn't see anything about that in the OP.
I didn't see anything about that in the OP.
Posted on 4/28/16 at 8:53 am to Tiger Ryno
quote:
Get ready to lose your arse. You need to do economic studies on gym profitability. You make money on the people who don't show up. Not the people who do.
You want to make money with a smaller strength gym you better be an awesome personal trainer because that is where you will have to make your money.
Pretty much this. You'd do better the way All American was set up, machines in the front and free weights in the back catering to body builders.
Posted on 4/28/16 at 8:58 am to AbitaFan08
quote:
Serious question: have you ever worked in a gym, or in the fitness community at all?
No, I have never worked in a gym. Im not a part of the fitness community as a profession. Ive been in athletics and lifting for my entire life but never on a professional level.
quote:
hey, it would be cool to own a gym, how hard could it be"?
Im not naïve enough to think that it wouldn't take all of my time, effort and sacrifice to own my own business. Im just trying to gauge whether I would have a profitable product to even do it in the first place. From what many are saying, it doesn't seem like it.
Posted on 4/28/16 at 8:59 am to eScott
The key to gym profitability is make the price just high enough to put coin in your pocket. UT low enough that the people who signed up and never go don't cancel it.
It is a volume based model. The only differentiation option I see for you with a gym like this is to be a well sought after trainer. Or have hot chick's wearing thongs walking around spotting baws.
It is a volume based model. The only differentiation option I see for you with a gym like this is to be a well sought after trainer. Or have hot chick's wearing thongs walking around spotting baws.
Posted on 4/28/16 at 9:05 am to dnm3305
quote:
It has been a dream of mine for awhile to open up a gym but I certainly want to offer something unique
You will go bankrupt, get sued, and serve time, Mr. Olah..
quote:
One of the owners of a failed Baton Rouge gym was sentenced to more than three years in prison Thursday. Matthew Scott Bernard, a co-owner of Powerhouse Gym, was sentenced to 41 months (3 years, 5 months) in prison after pleading guilty to bank fraud charges Thursday morning.
Posted on 4/28/16 at 9:05 am to eScott
I think people are being a little rough on the guy. The financial case is what I would look at before you even explore this any further. You need to understand the economics to make this thing stay afloat. However, I think this is doable if you have cash on hand and you are able to not take a salary for a couple of years.
If you are in for the long haul and won't have debtors then you basically have to cover your overhead for rent, electricity, insurance, payroll, etc. each month.
You are likely to need 200-300 memberships to make it feasible. You will want to consider a churn rate and a cost of acquisition for new members. This won't be earning you a ton of money but you can probably make it break even for a couple of years without you taking a salary. Eventually, you need your memberships to get into the 500+ range and/or you need to build other revenue streams (e.g., personal training classes) to make this thing successful.
If you are in for the long haul and won't have debtors then you basically have to cover your overhead for rent, electricity, insurance, payroll, etc. each month.
You are likely to need 200-300 memberships to make it feasible. You will want to consider a churn rate and a cost of acquisition for new members. This won't be earning you a ton of money but you can probably make it break even for a couple of years without you taking a salary. Eventually, you need your memberships to get into the 500+ range and/or you need to build other revenue streams (e.g., personal training classes) to make this thing successful.
Posted on 4/28/16 at 9:06 am to dnm3305
quote:
Im not naïve
I think you are. And I think the guy above nailed it. You need 300 members to come close to scraping by. You aren't going to get that.
Posted on 4/28/16 at 9:16 am to Artie Rome
If this really is your dream, you need to consider location. You need a major market and major capital to compete in this space IMO. In LA, NY or a affluent suburb you may do well. You would also need a Rockstar team of trainers. How would you acquire and retain them?
Know thy market sir.
Know thy market sir.
Posted on 4/28/16 at 9:16 am to dnm3305
No, because you do not need all that fancy crap to be in shape.
Of course my 24 hour fitness membership is just $20 a year for the rest of my life.
Of course my 24 hour fitness membership is just $20 a year for the rest of my life.
Posted on 4/28/16 at 9:16 am to Artie Rome
quote:
I think you are. And I think the guy above nailed it. You need 300 members to come close to scraping by. You aren't going to get that.
Thanks for your input. I feel being naïve would be breaking ground on this without ever moving past the infant stages of gathering information. I have literally only talked to a few people close to me about this this week. It's just an idea. It didn't seem realistic or plausible to begin with. Im just gauging interest. Ive thought about how many memberships I would need to pay for operating costs, bank loan, insurance, maintenance, etc, and I certainly knew it would be more than 100. It would be more than 300. That's why Im gauging interest. This has a 99% chance of never coming to fruition but just want the discussion.
Posted on 4/28/16 at 9:18 am to lynxcat
The reason I switched to anytime from spectrum is most of the spectrum gyms around me don't stay open 24 hours. I go to anytime every day and travel so I'll always keep my membership even if I join another gym. (planet fitness) I'm probably going to join planet fitness for the treadmill and tanning. It's 20 per month to add tanning to anytime, so I'd rather join pf for the same price and have more options.
Just giving the op some insite on one consumers view point. I doubt I'd join the OPs gym being only one location unless it had a great swimming pool or something I couldn't get anywhere else.
Just giving the op some insite on one consumers view point. I doubt I'd join the OPs gym being only one location unless it had a great swimming pool or something I couldn't get anywhere else.
Posted on 4/28/16 at 9:21 am to dnm3305
PROS ONLY GYM
I am excited to announce the recent opening of a serious bodybuilding gym- one that screens applicants as to their pursuit of a professional or amateur title. If they have no such aspirations, they are rejected! Indeed, I have invited numerous pro bodybuilders to join, and anticipate being the subject of an upcoming feature in 'Muscular Development', 'MuscleMag', or 'Flex'!!.
It all began a month ago as I was reviewing real estate investment opportunities in the Toronto area. Canadian real estate is where to put your investment dollars, brothers. I noticed a gym up for sale- and, at that very moment, a strange beam of light shined on my precise spot- a message from the gods! "THAT IS IT!!" I thundered, and storming out the study, proceeded directly to my lawyer's office to execute the purchase.
Two weeks later I stood, arms folded, observing the opening day of PROS ONLY GYM. I had, of course, flown to Canada with a small entourage, including the family chauffeur, Nobby, and a mentally challenged lad named Marvin. Marvin has, over the years, transformed from a stumpy, troll like youth into a massive, GH mutated, 10-anadrol-popping-daily cave-troll! Nobby's powerlifting and neck-snapping feats whilst an inmate in Britain's worst prisons have never been matched.
The walls are simple white, and on each is painted, in letters 2 feet high, 'LIFT HEAVY OR GO HOME', a motto I learned from 'bro1058' over at anabolex some years ago. No red balls. No aerobics area. No bikes. A few running machines. Lots of free weights. Buckets of chalk next to most racks. Free needles- 10cc 23 gauge 1.5 inch, for hardcore, massive injections of test.
A hardcore lifter's paradise!!
Prospective clients came in slowly. I wouldn't admit just anyone. The first to enter was a young woman of about 25. "High- cool- I wanna join!" she squeaked. "Listen, WENCH, we don't need some bikini-wearing poseur-I-want-to-look-tough little damsel in here- NOW GET THE **** OUT!!" I screamed in her face, showering her in spittle. She staggered back in shock, and was collared by Nobby, who helped her out the door. "FOOK OOF, SLAG!!" he snarled, and, as Marvin dutifully held the door open, he tossed her bodily out, 15 feet into the parking lot. Her body hit the pavement with a dull, sick, wet thud, and she lay motionless. Phonies, and anyone whom I, Nobby, or Marvin deemed unworthy was tossed out the door. After a week, membership stood at 7. A few local amateur bodybuilders, a deaf mute monster of a man, and Greg Kovacs constituted the total enrollment. Why such little interest? Corporate-fitness club entities that I loath had conspired against me.
Across the parking lot from PROS ONLY stood a GoodLife fitness club. One afternoon, while outside taking a cigarette break between 900 pound sets of squats, I couldn't help but express my anger openly. As Marvin and Nobby listened, I ranted -"Corporate fiends. No interest in serious lifting or getting huge. Thanks to places like THAT!", I screamed, pointing at GoodLife, "honest gyms like mine can't survive! They probably wouldn't even ADMIT you, Marvin!" I cried. Marvin looked stunned. "Wuh- why dat isth?" he inquired. "Well, Marvin, they just wouldn't want a poor handicapped fellow like you tarnishing their BLOODY IMAGE!!" I screamed. "INFIDEL ****ING DEFILERS!!!" I roared, so loud that it was heard across the city of Toronto! In a thick Cockney accent Nobby echoed my sentiments- "Oi- MAHVIN- URT THE BAHSTADS! TEACH EM A FOOKIN LESSUN!" he snarled in Marvin's face. As a sign of how serious that hurt was to be, Nobby lent Marvin his handy motorbike chain. Marvin began shaking in rage, then started screaming, and, roaring the battle-cry of the retarded, a thunderous "AAAAAAAARRRRRRGGGGHHH UUUUUNNNNGGHHH!!!", he began one of his crazed, raging, banzai charges across the parking lot, heading like a screaming, suicidal Japanese Samurai, towards the front doors of GoodLife!
He charged right through the front glass doors, and bulldozed the front desk into smithereens! Screaming, he began beating anyone he saw with Nobby's bike chain. Soon, bodies began flying out the front windows of Goodlife, followed by pieces of gym equipment! Marvin's Quasimodo, Incredible Hulk strength was capable of terrifying feats of power- believe it or not, brothers, he even threw a Pepsi vending machine out the window! It landed with a crash on the front hood of the manager's car, utterly destroying it! People ran screaming in terror as the mongoloid monstrosity wrought Godzilla-like destruction upon the sinners of Goodlife!! Nobby and I watched, cheering him on, until 30 police cars and a SWAT team arrived. Marvin charged into the parking lot and met them head on, flipping squad cars and sustained being 'tasered' no less than 34 times before he finally collapsed, beneath a shower of truncheon blows!
Since then, brothers, a few members have joined as Goodlife has shutdown for repairs. Sure, our membership is exclusive- a few stutterers, a mute, all sociopaths, but all dedicated lifters. I recently got wind that Craig Titus is interested in joining- as soon as he gets out of jail.
Any pro reading this is welcome to drop by- corner of Jane and Steeles Avenue West. Just ask the taxi driver to take you to an area where crack is readily available. You'll see the sign. Hope to see some famous faces!
I am excited to announce the recent opening of a serious bodybuilding gym- one that screens applicants as to their pursuit of a professional or amateur title. If they have no such aspirations, they are rejected! Indeed, I have invited numerous pro bodybuilders to join, and anticipate being the subject of an upcoming feature in 'Muscular Development', 'MuscleMag', or 'Flex'!!.
It all began a month ago as I was reviewing real estate investment opportunities in the Toronto area. Canadian real estate is where to put your investment dollars, brothers. I noticed a gym up for sale- and, at that very moment, a strange beam of light shined on my precise spot- a message from the gods! "THAT IS IT!!" I thundered, and storming out the study, proceeded directly to my lawyer's office to execute the purchase.
Two weeks later I stood, arms folded, observing the opening day of PROS ONLY GYM. I had, of course, flown to Canada with a small entourage, including the family chauffeur, Nobby, and a mentally challenged lad named Marvin. Marvin has, over the years, transformed from a stumpy, troll like youth into a massive, GH mutated, 10-anadrol-popping-daily cave-troll! Nobby's powerlifting and neck-snapping feats whilst an inmate in Britain's worst prisons have never been matched.
The walls are simple white, and on each is painted, in letters 2 feet high, 'LIFT HEAVY OR GO HOME', a motto I learned from 'bro1058' over at anabolex some years ago. No red balls. No aerobics area. No bikes. A few running machines. Lots of free weights. Buckets of chalk next to most racks. Free needles- 10cc 23 gauge 1.5 inch, for hardcore, massive injections of test.
A hardcore lifter's paradise!!
Prospective clients came in slowly. I wouldn't admit just anyone. The first to enter was a young woman of about 25. "High- cool- I wanna join!" she squeaked. "Listen, WENCH, we don't need some bikini-wearing poseur-I-want-to-look-tough little damsel in here- NOW GET THE **** OUT!!" I screamed in her face, showering her in spittle. She staggered back in shock, and was collared by Nobby, who helped her out the door. "FOOK OOF, SLAG!!" he snarled, and, as Marvin dutifully held the door open, he tossed her bodily out, 15 feet into the parking lot. Her body hit the pavement with a dull, sick, wet thud, and she lay motionless. Phonies, and anyone whom I, Nobby, or Marvin deemed unworthy was tossed out the door. After a week, membership stood at 7. A few local amateur bodybuilders, a deaf mute monster of a man, and Greg Kovacs constituted the total enrollment. Why such little interest? Corporate-fitness club entities that I loath had conspired against me.
Across the parking lot from PROS ONLY stood a GoodLife fitness club. One afternoon, while outside taking a cigarette break between 900 pound sets of squats, I couldn't help but express my anger openly. As Marvin and Nobby listened, I ranted -"Corporate fiends. No interest in serious lifting or getting huge. Thanks to places like THAT!", I screamed, pointing at GoodLife, "honest gyms like mine can't survive! They probably wouldn't even ADMIT you, Marvin!" I cried. Marvin looked stunned. "Wuh- why dat isth?" he inquired. "Well, Marvin, they just wouldn't want a poor handicapped fellow like you tarnishing their BLOODY IMAGE!!" I screamed. "INFIDEL ****ING DEFILERS!!!" I roared, so loud that it was heard across the city of Toronto! In a thick Cockney accent Nobby echoed my sentiments- "Oi- MAHVIN- URT THE BAHSTADS! TEACH EM A FOOKIN LESSUN!" he snarled in Marvin's face. As a sign of how serious that hurt was to be, Nobby lent Marvin his handy motorbike chain. Marvin began shaking in rage, then started screaming, and, roaring the battle-cry of the retarded, a thunderous "AAAAAAAARRRRRRGGGGHHH UUUUUNNNNGGHHH!!!", he began one of his crazed, raging, banzai charges across the parking lot, heading like a screaming, suicidal Japanese Samurai, towards the front doors of GoodLife!
He charged right through the front glass doors, and bulldozed the front desk into smithereens! Screaming, he began beating anyone he saw with Nobby's bike chain. Soon, bodies began flying out the front windows of Goodlife, followed by pieces of gym equipment! Marvin's Quasimodo, Incredible Hulk strength was capable of terrifying feats of power- believe it or not, brothers, he even threw a Pepsi vending machine out the window! It landed with a crash on the front hood of the manager's car, utterly destroying it! People ran screaming in terror as the mongoloid monstrosity wrought Godzilla-like destruction upon the sinners of Goodlife!! Nobby and I watched, cheering him on, until 30 police cars and a SWAT team arrived. Marvin charged into the parking lot and met them head on, flipping squad cars and sustained being 'tasered' no less than 34 times before he finally collapsed, beneath a shower of truncheon blows!
Since then, brothers, a few members have joined as Goodlife has shutdown for repairs. Sure, our membership is exclusive- a few stutterers, a mute, all sociopaths, but all dedicated lifters. I recently got wind that Craig Titus is interested in joining- as soon as he gets out of jail.
Any pro reading this is welcome to drop by- corner of Jane and Steeles Avenue West. Just ask the taxi driver to take you to an area where crack is readily available. You'll see the sign. Hope to see some famous faces!
This post was edited on 4/28/16 at 9:24 am
Posted on 4/28/16 at 9:21 am to dnm3305
And that's all fair. I'm not shitting on your idea. There must be a way to focus a market interest in whatever Lafayette are you are considering. I think that is another issue. "Lafayette Area" is way to big to gauge interest in my opinion. I have two YMCAs within three miles of my house in Baton Rouge. That is a huge part of the draw.
Posted on 4/28/16 at 9:22 am to dnm3305
Yes
Posted on 4/28/16 at 9:34 am to meaux5
Hard to beat Red's at $64. Have you considered some sort of a co-op with members having ownership ?
Posted on 4/28/16 at 9:38 am to CORIMA
quote:
Have you considered some sort of a co-op with members having ownership ?
Seems like that would be a must after further thinking.
Posted on 4/28/16 at 9:39 am to dnm3305
quote:
It has been a dream of mine for awhile to open up a gym
This concept is the exact concept that a friend of mine had a few years back. He is a pretty hardcore bencher that lifts over a 1,000. I am not going to say his name here but I am sure Google plus where I live and you can connect the dots. He had a falling out with a gym here and decided to open up his own place. It's a lifter's dream carved into a strip garage with 3 bays that have roll up doors. They charge $40 a month and you can go 24-7. There are about 30 people that are either straight up powerlifters or compete in Ironman tournaments.
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