Updated: May 24, 2019
Are you a fitness buff? Then starting a gym or fitness center could be the best business idea for you.
It’s a profitable venture, especially today when people have become more body and health-conscious because of social media. Everyone wants to look and feel good for their selfies and travel photos.
Below are six quick tips that you can follow if you want to succeed in this line of business. So if you plan to start a local gym or fitness center, then read these advice.
1. Estimated Starting Capital
A regular-sized weight training gym costs around P3 million to P5 million today. If you want a warehouse-sized operation, it can cost more.
Around 50% of your capital will be for buying the necessary office and gym equipment, while 25% is for administrative costs such as construction expenses and business permits.
Lastly, the rest of that capital will for your operating expenses. Apart from utility bills, this fund includes at least 6 months worth of salaries for your sales team and fitness trainers.
2. Fitness Equipment
The basic equipment for today’s gyms include the treadmill, stationary bike, resistance machines, weights and dumbbells, squat rack, bench, medicine balls, pull-up bars, and functional exercise equipment.
Define your target market and prioritize which to buy first, if you can’t afford to buy all. If you plan to target the young moms in your community, then cardio machines, functional exercise equipment, and dumbbells are your priority.
As always, consider the quality and built of your equipment. A cheaper brand may cost less, but they could easily break down and more expensive to repair.
3. Gym Staff
Make sure to have a good sales and customer relationship manager. It’s important to make the membership grow consistently while ensuring that everyone’s happy and satisfied with exercising at your gym.
Moreover, hire fitness trainers that are knowledgable and good in dealing with people. It’s also important to get those with proper educational background and can do first aid procedures.
4. Business Location
The location of your fitness center can dictate how profitable your business will be. In essence, your accessibility is the key here.
Choose a location near your target market’s place of residence or work. It’s preferred to put up your gym near heavy foot-traffic so you can also get walk-in inquiries.
5. Beyond Body Building
The gym is not just for body builders, it’s also a place of social interaction and making new friends.
There are a lot of gyms that incorporate a variety of services that combine sociability with fitness. Consider having group exercise sessions and special-interest classes such as Zumba or Yoga, to add value to your gym service.
As additional source of income, you can also sell items such as supplements, bottled drinks, and fitness lifestyle accessories inside the gym.
6. Membership Rates
Keep your member packages reasonable. The membership fees of nearby gyms and fitness center can serve as your basis for your prices. Offer a “per session”, monthly, and yearly rates.
You can likewise offer special packages such as time-limited access rates for those who can workout only in the morning, or those who can afford to go to the gym only during weekends.
A gym or fitness center business in the Philippines is not a popular venture for starting entrepreneurs. But it’s nevertheless a profitable business if you have the passion for health and fitness.
Losing weight and becoming fit is something a lot of Pinoys aspire for. Help them achieve that with your business, and make a difference in their lives.