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240 is Back:
Is it worth it?  Was it hard to ge ta loan?  Where did you get your equipment, and did you buy new or used?  Liability? Other issues?

Are you glad you did it?  If you could go back 5 or 10 years, what would you do differently?  This is the place where gym owners, or those interested in maybe starting a gym down the road, can talk about it!

Mike:

--- Quote from: 240 is Back on April 19, 2006, 11:34:47 AM ---Is it worth it?  Was it hard to ge ta loan?  Where did you get your equipment, and did you buy new or used?  Liability? Other issues?

Are you glad you did it?  If you could go back 5 or 10 years, what would you do differently?  This is the place where gym owners, or those interested in maybe starting a gym down the road, can talk about it!

--- End quote ---

Our next plan is to get a 3000sq PT studio that's affiliated with our current gym.  4 lane track, monkey bars, climbing ropes, sleds, monster truck tires in the parking lot...fun stuff.  You'd be suprised how many 40 year old JPMorgan Chase employees it takes to flip a 500lb tire (answer: too many). 

Low overhead. 

Trainers are paid a fixed rate based on certification and experience plus comisssion for selling packages.   

Trainers only get paid if it's a paid session.

Mothers returning to the workforce are your best trainers, they can handle the young guys and the old women. 

Fixed overhead business. 

knny187:
I have a few friends that either have own gyms or PT studio's.  Their answers are something like this:


--- Quote from: 240 is Back on April 19, 2006, 11:34:47 AM ---Is it worth it?
--- End quote ---

no...not always. 


--- Quote ---Was it hard to ge ta loan?
--- End quote ---

no...but depends on your business plan & partnership


--- Quote ---Where did you get your equipment,
--- End quote ---

From whomever bids the lowest.  Try to go with one vendor (like Life Fitness) that can provide about 80% of the cardio & strenth that you need.  Then they will buy into other lines & add select pieces they prefer & customers would request.


--- Quote ---and did you buy new or used?  Liability? Other issues?
--- End quote ---

New....never used or very rarely used.  A friend I know will buy small PT studios (complete buyout)....update & resell them.  If the used equipment still in there is ok....they'll leave it a lone.




--- Quote ---Are you glad you did it?
--- End quote ---

no....& yes.  Making money can be harder than it seems from owning a gym.


--- Quote ---If you could go back 5 or 10 years, what would you do differently?
--- End quote ---

Go back another 15-20 years & start then


--- Quote ---This is the place where gym owners, or those interested in maybe starting a gym down the road, can talk about it!

--- End quote ---

Then bottom line they all say the same thing....have a niche, sell memberships, & location, location, location.

body88:
What is the success rate of none chain owned gyms????

knny187:

--- Quote from: body88 on April 22, 2006, 12:41:51 PM ---What is the success rate of none chain owned gyms????

--- End quote ---

Now thats a good question.

That really depends on size, location, & what actual kind of gym it is.


Don't have any stats on that.

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