What degree would I need to own a gym or health club?

[trip]

Univ. Md. Degree in Mech. Eng.
Yes, I have, only took 22 years, on too bigger and better things, and as with all things new, the going is slow, yet, that's how I like it now....biggest goal, retire at 40, and own my own business, achieved at 41 & 42 respectively, course owned others in past, yet this one I have a passion for

[Atlas]

I don't think you need a degree, you just have to know what you're doin.

[latimer99]

understanding market is an important thing, a degree is not. read books, learn about demographs, and talk to successful business men (of any field). You will be amazed at what you can learn through hands on experience.

[tinytim]

Originally posted by latimer99
not to single you out here brother but there are a lot of false statements here.

golds initial franchise fee is $20,000 and a royalty of 1,000per month at a $100 monthly increase annually...

worlds is $12,000 initial franchise fee...

my bad, i was just giving some of the info i recived when i asked this same question http://www.fitnessgeared.com/forum/s...ight=gym+owner

i must have missread it..
TT

[trip]

Originally posted by latimer99
understanding market is an important thing, a degree is not. read books, learn about demographs, and talk to successful business men (of any field). You will be amazed at what you can learn through hands on experience.

latimer is 100% right, this is the key to the city, constant research, education and knowledge, and the big success's can tell you which idea's in the big books are worth a damn, they won't tell you much till you read the books, okay, simplification, yet you get the gist

First you aquire the knowledge, and then you have too aquire the correct habit to accentuate the knowledge, and that little formula never ever changes in life.

good post latimer

[Harry Tasker]

anyone else on here want to open a gym? we could share ideas.

Latimer99: potential owner
3vandoo: potential owner
Nate: currently owns

anyone else?

[latimer99]

potential owner...... consider it done!

good thread MM

trip, ill pm you later in life when the time comes, good luck with the business's brothers

[3Vandoo]

here, the letter Gold's sends you,(first one)

sorry for the scan

[Harry Tasker]

thnx 3vandoo! When did you recieve that and you wish to open a gold's as well as latimer99 does?

[3Vandoo]

I received that, hmm I dont remember exactly, about 2 years ago or so.

I used to want to open a Golds, but the truth is that where I will open it(if I do) is in Montreal, so 50kUS a year for me is alot of money for a name. 50k US is 70k cdn so I could buy 7 treadmills, or 76 bench press or hell have a super sound system with 3d imaging etc...

It is worth it yes, because the name brings you business, but also for the money you spend on a name, you could do a lot more.
Also, because you are a franchisee you can only buys from their distributors, so their approved machine, supplements etc...
If you want to deturn that, you have to open a shop next door.

[NATE]

Originally posted by Monster Muscle
trip or nate,

how would i go about getting money for a gym that would cost 10-15 million?? the banks would not lone that much. I would probably have to start small with a little gym before I could that, wouldn't I? You just don't go trying to own some gym that is worth that kind of price tag. I know there is a way and I will find out.

I want a 5 star gym, it is my highest goal.

my guess is that you'd have to marry into millions lol....really bro, what bank or investor is going to make that risky manuever with an unproven bus. owner?
my guess is none.

financial backers is one thing but you're talking 10 mil for a fitness oriented facility....Good luck with that.....way,way,way risky, and how would you pay them back if you went belly up?????

exactly.

its nice to see your goal is set a such a high mark, there is nothing wrong with that, just dont be let down when you hear "NO" bc you're gonna get alot of them.

[Harry Tasker]

Originally posted by Nate
my guess is that you'd have to marry into millions lol....really bro, what bank or investor is going to make that risky manuever with an unproven bus. owner?
my guess is none.

financial backers is one thing but you're talking 10 mil for a fitness oriented facility....Good luck with that.....way,way,way risky, and how would you pay them back if you went belly up?????

exactly.

its nice to see your goal is set a such a high mark, there is nothing wrong with that, just dont be let down when you hear "NO" bc you're gonna get alot of them.

I know, my parents say the same thing to me...I hope to persuade investors by research and a huge market plan that will not fail. I predict that I have about 7 to 8 years to do so. That should be enough time to put together a solid business plan.

I just won't listen to anyone when I do something that is nearly impossible to achieve. I just can't give up, never ever, no matter what anyone says. Wrestling for 6 years in high school and college taught me this. You let go for one second and your pinned, match over. Team mates hate you and you feel like a complete failure. I know if I battle this to the end their could be a very slight chance of me succeeding but if I give up then that's what I will have, nothing.

I always converse with this guy at my gym who has opened 2 gold's and another health club. Every time we talk he get's so fired up he says. He just wants to go and open his own gym because he says he is inspired that I have the same goal as him at such a young age and he knows what a great business the gym industry really is.

It just has so much potential for money and expansion, so much more then any other job with not so much brain power required but MOTIVATION and DESIRE. The want to succeed and be the best that you can be. I have witnessed it done at my work. A small time man was hired with a low paying job within the company that no one cared about.

So one day out of the blue the director of an even higher position get's fired! So..who do they pick to take her position temporarily, HIM! He has absolutely no qualification for the job, nothing! Everyone assumed he would FAIL for sure! So what happens to him? Well, having approximately 55 companies all over the world. The son of a ***** got us in the top 3 because he was such a smart educated business man with MOTIVATION and DESIRE, that it what this man was all about.

He knew nothing about the field he was doing, nothing at all. The only thing this guy knew how to do was bring in $$$$$$$$$$$ and he did it well. He brought $30,000 in sales, in one single day! More then that other women before him could do in one single month.

Now he has transferred out from my work and has been promoted to an even higher job at a much larger company where he can bring in twice as much money for the business because the people up above saw what he was doing and noticied how profits nearly tripled in sales when he started working in that position.


Now, it's inspiring things like that, that won't let me give up no matter what anyone says. Anything is possible in the business world because I just witnessed it with my own eyes.

The best part about this small time man is...I watched every move he made, watched all his methods, learned his money saving techniques, his right's and his wrong's. Watching someone else is the key. You can just learn from thier mistakes and benefit from their achievements.

[NATE]

i have no doubt that you will suceed in whatever you want to do bro, i think you see speed bumps instead road blocks and thats a real good quality to have if you want to be a succesful business owner in todays world.

[Harry Tasker]

did anyone ever say or laugh at you when you told people you wanted to own your own gym nate?

[NATE]

nope, it wasnt a life goal of mine, it was a product of circumstances at that time. I had an idea... i reaserched it....after the building was finished i opened it...inside of 4 months.....clear cut, thats how i do things