Tweet

Originally posted by Mike Rummy
What school you go to jsjs24? If you don't mind me asking

Embry-Riddle, but I went to Marshall University several yrs ago (incase the avatar led you to believe I went somewhere in WV)

Tweet

Originally posted by trip
js,

Improper planning and research leads to many things, mostly being in the wrong place at the wrong time and not being able to SELL anything.

Also, by his posts he clearly states he FEARS losing money. Thus he figured out real quick how NICE and CARING he is has a bottom line effect on sales.

Yet, again, could be wrong.

And too clarify a gym is a business, lights don't stay on unless you pay the bills, bills don't get paid without revenue, revenue never comes without sales. That never ever changes for any business, no matter how big or small.

True, true, true. But like I said, I did not want to go into details on how to operate or start a business. Of course it's all about sales and how you treat your customers, etc. First things first though, you have to get the place up and running, that's why I said you need money (from a bank, your savings, a friend, etc)

Tweettrip 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.

TweetDo some smart investing

TweetOK im working on opening my gym since 5 years now.

In the gym industry, if you are opening a normal gym, and I quote normal here.

To be succesfull...

You need

Minimum of 2500 members in cities of 300-500k, and 4500-6000 members in cities of million.

You need a good spot, where everyone can see you, if you dont have a good spot, because you are in a big warehouse in the industrial centre, then you need good publicity and alot. Dont be shy to advertise it everywhere....

(here sponsors, HS football team(you would be surprise to see how much alumni could come and support ya), get some specials packages with clubs etc..

The equipments, must be the top of the line. Yes, here the look is number one!

WOMEN! yep you want them why?
They bring sales and new membership (males one) but also they spent an average of 45min and only using cardio and drink low water and are more cautious with machine. yepper!

thats the base now

you have to spice up a little

Me, the gym I have in mind, would cost about 750 000 in start up fees and here it is a fucking minimum. about 225k is on FUCKING CARDIO machine damn it!
yep you need them to sale, and at 10k a pop for a fucking treadmills.

But you can save money on other spots,
like lockers, you buy old lockers, redo them, paint them they are like new.

etc.. etc...

Tweet

Originally posted by tinytim
ask NATE....he is prolly over at precision muscle....


do you plan on starting your own or opening a franchize(sp)

a golds costs like 300,000 just to start.....and liek 25K in royalties per year.....so i have been told

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...

TweetMinimum of 2500 members in cities of 300-500k, and 4500-6000 members in cities of million.

50,000 people can be adequate depending on the market..

my golds gym is in a city with a pop of 96,000 and we have over 5000 members...

Tweet

Originally posted by trip
js,

fyi, 4 out of 5 small business's fail in first five years, 80%

Good Luck

a successful business man does not pay attention to statistics like this.

get a job at a gym and assume stewardship, you will learn the business, be promoted, and eventually open your own successful gym...

go for it monster muscle, all it takes to be successful is an opptimistic personality, dedication, and hard work... broken down it can be that simple...
what you give is what you get....

good luck brother

Tweetbtw... i will own a golds within 5yrs time

Tweetburp to my previous question above^^^^^^^^^^

TweetMM,

Get out a pencil and paper and run the numbers.

How much revenue do you need to support a 10 million investment on a monthly basis?

Then how do you get the monthly revenue?

As a starting point a good business pays back it's initial debt in 3-5 years, you can stretch it out too 7.

If this is really your intent location will be important, do a demographic search, just a guess is you will need a high concentration of folks with incomes over 6 figures.

Seems like your are trying to build a fitness country club, unique idea for sure.

Good Luck

Tweet

Originally posted by trip
MM,

Get out a pencil and paper and run the numbers.

How much revenue do you need to support a 10 million investment on a monthly basis?

Then how do you get the monthly revenue?

As a starting point a good business pays back it's initial debt in 3-5 years, you can stretch it out too 7.

If this is really your intent location will be important, do a demographic search, just a guess is you will need a high concentration of folks with incomes over 6 figures.

Seems like your are trying to build a fitness country club, unique idea for sure.

Good Luck

ok thanks, I will do that. Fitness country club, yes that is basically what it is. It will mainly probably cator to the rich...I am still contemplationg though..."location is key!"

you probably know this answer, do you think thier is enough wealthy people out there who are willing to workout that could afford to be a member of that kind of gym?? I think there is judging by all the people who stay at the ritz which is pretty damn expensive, even though a hotel and gym are 2 different things, but they basically share the same idea in a way.

TweetQuick answer, YES.

And their are many examples of success. CC memberships can run 2 grand a year to 25 g a year and much higher, so prices on everything is all over the board.