Are you currently only offering online training, or driving around from gym to gym doing in-person training? Have you always dreamed of owning your own space and creating your dream gym to train clients out of? If you have a dream, then go for it, but here is a realistic rundown of what you need to prepare for when expanding your business to a brick-and-mortar location.
This is what you need to know about opening a boutique gym.
Many trainers start their careers renting space from other gyms, training clients in condo gyms, parks, or driving from one location to another. These days can be jam-packed with travel, client sessions, and managing an online training business. This kind of schedule can lead to burnout and necessitates finding a way to cut down on driving hours. One solution is to lease your own space and establish a boutique gym.
Check Out: How to Open a Gym Business or Fitness Studio
Leasing a space and setting up a new gym involves significant upfront costs and pressure to cover monthly overhead. However, with smart planning and strategic steps, it’s possible to do this without incurring loans or debt.
Key Preparations for Leasing Your Own Space
#1: Purchase equipment gradually to save on upfront costs
To mitigate the cost of equipment purchases all at once, begin building up a stockpile of equipment over time. If there are sales or if equipment becomes available that might be useful, purchase it and store it until the gym is ready to open. This strategy reduces the financial burden when it’s time to furnish the gym.
Check Out: Everything to Know About Gym Startup Costs
#2: Acquire in-person clients in the area
Establish a client base in the area where the gym will be located. Running group fitness classes in rented spaces near the prospective location can help build a loyal following. These clients are likely to transition to the new gym once it opens, providing an initial client base.
#3: Develop relationships with local media and businesses
Building relationships with local newspapers and businesses early on can be beneficial when promoting the new gym. These connections can help with advertising and attracting new clients once the gym is operational.
Other Considerations for Opening a Boutique Gym
Pricing
Determine how much to charge for services. This involves careful calculation based on overhead and desired profit. Conduct market research to compare pricing with other gyms in the area. Setting prices appropriately from the beginning is crucial, as it can be challenging to raise prices later.
Check Out: 10 Easy Steps to Successful Gym Management
Choosing the location
Select a location based on the surrounding businesses and demographic. It’s advantageous to choose a location where there is already a client base or where the location is convenient for potential clients. Avoid areas saturated with similar gyms unless there is a unique selling proposition.
Staffing
Decide whether to hire other coaches as subcontractors or employees. Consider how much to pay them and how to schedule them. The hiring process should be detailed, with systems in place to ensure coaches meet the required standards. Managing staff effectively can relieve some of the pressures of running the gym and provide more free time.
Check Out: How to Create a Gym Business Strategy
Insurance
Consult with the current training insurance provider to determine the cost of covering the new gym and any staff members. Insurance costs will increase, so this should be factored into the overhead.
Lease or own?
Decide whether to lease or buy a space. This decision depends on financial situations and has its benefits and drawbacks. Consider both options carefully.
The back end and additional costs
Consider the costs associated with registration systems, client scheduling, payment systems, and the website. Factor in the costs of providing amenities such as water or sweat towels, and marketing materials and clothing. These are all additional upfront costs that need to be planned for.
Owning a brick-and-mortar location is constant work, but it can be incredibly rewarding. It allows for more free time to focus on building the online training business and creating additional income without trading time for money. While there are many challenges, with careful planning and strategic decisions, opening a boutique gym can be a successful venture.
Integrating ABC Trainerize into your gym business offers a way to successfully manage memberships, deliver training programs, track member success, and so much more. Why not take it for a test drive?
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