noooooooobody wants to work 12hr+ days when they're retired.
unless you build a gym like Westside or Metroflex and you can afford to lose about $4k/month, it's a bad idea to do when retired.
Right again.
This is exactly what I'm doing and it isn't going to last without me finding trustworthy people... which is nearly impossible these days. Even if they are trustworthy, they may not be punctual, or their priorities may be a bit skewed.
The perfect employee (even if paid well) is nearly non-existent. Even if they are great, their has to be some monitoring.
Another thing that was not brought up was your alarm system. ADT required a large advance down-payment.
Camcorders... that's a whole other ballgame. Best thing to do is place them strategically, don't talk about them, and be able to monitor them from anywhere online.
So many little things to think of.
A good computer set up with software, printers, scanners, faxes, multiple phone lines, paper, ink... etc, etc.
Sticky pads, pens... it may not seem like much but it ads up especially when your pens keep disappearing to that member that constantly wants to "borrow" a pen and paper for a moment.
Customer appreciation days cost. Depends how much you do.
Some local businesses will donate, make trades, or help with full-blown BBQ's, music, car shows... it all depends what kind of members you have. Sometimes class demos work, but not always.
Forget about bodyfat testing. I've NEVER seen that work.
Become as friendly as possible with all surrounding businesses. You may need one of them just to constantly make change. You can't be running to the bank all the time and you can't be carrying a shitload of cash.
When all you have are $5's and $1's.... you're gonna get that customer that wants to pay his/her dues with $100 bill... and you better take it right then and there regardless of whether or not they are late. Take it whenever you can get it. Don't "waive" late charges unless it is TOTALLY legit (rarely)
Don't do "cancellations" on an EFT unless it's totally legit. Again, rarely.
Your customers will stomp the living shit out of you if you aren't a firm businessman... and yet respectful and nice. Sometimes the two don't go together when you get an ass at the counter that is locked into an EFT and decides somewhere along the line that they should only pay for the months they worked out.
The gym business... is not for everyone.
People walk in, but there's always something holding them back. A "walk-in" is NOT a slam-dunk... as much as you'd like it to be.