Getbig Bodybuilding, Figure and Fitness Forums
Getbig Main Boards => Gossip & Opinions => Topic started by: pellius on January 12, 2008, 03:11:10 PM
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There's this tanning salon that I go to because it's the only one in the area (next closes is about 15 miles away). This is in Kaneohe, Hawaii which is an area that rains pretty much everyday at some level. This is the worse place I've ever seen. Expensive, they close at random times for breaks, lunch, errands.... The owner lives on the mainland and doesn't give a rip. The "manager" is her niece that only hires her dippy teenage girl friends that spend more time on the phone or talking to their desperate boyfriends that have nothing better to do but hang out in a salon taking up the few seats available. The bulbs suck and are poorly maintained. Try to find a bed that doesn't have a least one bulb out. Due to their frequent "computer problems" they've been closed for over a week. No one is happy with this place but only go there because it's the only salon in the area.
Because there is a ready made customer base (it's in an outdoor shopping center with lease space available with a 24hr fit right next door to the salon) I know that if another placed opened up and just actually stayed open during the posted hours they would shut this place down. Even their hours stink 10am-9pm wkdys and 11am-5pm wkends. And I'm sure I can do better than their $80/month unlimited on their crappy 20 min bed.
Hell, I'd be willing to sit there from 7am-11am and run the place myself. There's a lot of down time that I can use to read getbig (LOL). Also, I can hire my nephew that lives down the street to work a few hours while I go to 24hr to train 3-4 times a week.
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Every business should start with a written business plan.
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not gonna read that i tell youw hat im gonna do im gonan drink ab beer ok pal
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Money and intelligent use of it makes more money. Innovation makes money, but these days it usually requires money to be innovative (youtube, facebook). In other words, if you don't have money to begin with, don't expect to progress anywhere fast. And I don't mean having $50,000 in the bank, I mean having a million to play with.
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There's this tanning salon that I go to because it's the only one in the area (next closes is about 15 miles away). This is in Kaneohe, Hawaii which is an area that rains pretty much everyday at some level. This is the worse place I've ever seen. Expensive, they close at random times for breaks, lunch, errands.... The owner lives on the mainland and doesn't give a rip. The "manager" is her niece that only hires her dippy teenage girl friends that spend more time on the phone or talking to their desperate boyfriends that have nothing better to do but hang out in a salon taking up the few seats available. The bulbs suck and are poorly maintained. Try to find a bed that doesn't have a least one bulb out. Due to their frequent "computer problems" they've been closed for over a week. No one is happy with this place but only go there because it's the only salon in the area.
Because there is a ready made customer base (it's in an outdoor shopping center with lease space available with a 24hr fit right next door to the salon) I know that if another placed opened up and just actually stayed open during the posted hours they would shut this place down. Even their hours stink 10am-9pm wkdys and 11am-5pm wkends. And I'm sure I can do better than their $80/month unlimited on their crappy 20 min bed.
Hell, I'd be willing to sit there from 7am-11am and run the place myself. There's a lot of down time that I can use to read getbig (LOL). Also, I can hire my nephew that lives down the street to work a few hours while I go to 24hr to train 3-4 times a week.
http://www.sba.gov/smallbusinessplanner/plan/writeabusinessplan/SERV_WRRITINGBUSPLAN.html
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1: You get some resources, educate yourself about the different aspects of business, and talk to some people that have already succeeded to get good tips and feedback.
2: You make a commitment to learn the skills needed to succeed in business, and then you go out and do it.
3: Get a good team of advisors/helpers to help you out.
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not gonna read that i tell youw hat im gonna do im gonan drink ab beer ok pal
Looks like you already grabbed a few.
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Money and intelligent use of it makes more money. Innovation makes money, but these days it usually requires money to be innovative (youtube, facebook). In other words, if you don't have money to begin with, don't expect to progress anywhere fast. And I don't mean having $50,000 in the bank, I mean having a million to play with.
::).....but first have a plan. Not everyone starts with a million to play with and not everyone can get that kind of capitol. Get real Matt.
I started with literally $500.00 and now own a home on the beach. Everything MUST start with a plan.
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Everything MUST start with a plan.
Good fucking point! :)
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Money and intelligent use of it makes more money. Innovation makes money, but these days it usually requires money to be innovative (youtube, facebook). In other words, if you don't have money to begin with, don't expect to progress anywhere fast. And I don't mean having $50,000 in the bank, I mean having a million to play with.
you are an idiot..so you are saying that every business started off with the owner having 1 mil in the bank
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Here's another one, SBA is a GREAT reference source
http://www.sba.gov/smallbusinessplanner/index.html
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::).....but first have a plan. Not everyone starts with a million to play with and not everyone can get that kind of capitol. Get real Matt.
I started with literally $500.00 and now own a home on the beach. Everything MUST start with a plan.
Sure...money and a plan. By the way, what did you do with $500.00 to become successful?
you are an idiot..so you are saying that every business started off with the owner having 1 mil in the bank
I'm saying it is a huge advantage. I'm also saying that those that don't fall into the outline I described above are the exceptions, not the rules. When my friends ask me about my website and web design business I explain to them that 95% of similar businesses fail within the first year.
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It all depends on the type of business that you are persuing, in your case..a tanning salon, I would estimate a start up of no more than $50-60,000 at most, purchasing the beds are 90% of the cost.
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There's this tanning salon that I go to because it's the only one in the area (next closes is about 15 miles away). This is in Kaneohe, Hawaii which is an area that rains pretty much everyday at some level. This is the worse place I've ever seen. Expensive, they close at random times for breaks, lunch, errands.... The owner lives on the mainland and doesn't give a rip. The "manager" is her niece that only hires her dippy teenage girl friends that spend more time on the phone or talking to their desperate boyfriends that have nothing better to do but hang out in a salon taking up the few seats available. The bulbs suck and are poorly maintained. Try to find a bed that doesn't have a least one bulb out. Due to their frequent "computer problems" they've been closed for over a week. No one is happy with this place but only go there because it's the only salon in the area.
Because there is a ready made customer base (it's in an outdoor shopping center with lease space available with a 24hr fit right next door to the salon) I know that if another placed opened up and just actually stayed open during the posted hours they would shut this place down. Even their hours stink 10am-9pm wkdys and 11am-5pm wkends. And I'm sure I can do better than their $80/month unlimited on their crappy 20 min bed.
Hell, I'd be willing to sit there from 7am-11am and run the place myself. There's a lot of down time that I can use to read getbig (LOL). Also, I can hire my nephew that lives down the street to work a few hours while I go to 24hr to train 3-4 times a week.
Get this book and get familiarized with every concept in it, then take it from there.
http://www.amazon.com/Start-Your-Own-Business/dp/1599180812/ref=pd_bbs_sr_1?ie=UTF8&s=books&qid=1200183850&sr=8-1
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Yes, you can have money and still fail at making more money, but to imply that "intelligence" and "hard work" are all that are required is very naive. You can be the smartest person in the world, but without capital, let me know how far you get. That's why it is called "capitalism" after all.
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Sure...money and a plan. By the way, what did you do with $500.00 to become successful?
I'm saying it is a huge advantage. I'm also saying that those that don't fall into the outline I described above are the exceptions, not the rules. When my friends ask me about my website and web design business I explain to them that 95% of similar businesses fail within the first year.
No Matt, you have it backwards (not blasting you) you MUST have a plan for your money, you just can't randomly place your money and expect it to work for you, business is enough of a risk, if you value your money you will limit the risk by having a plan.
I was very patient and kept on reinvesting back into my business, also, it helps to have PASSION for what you do.
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visit your local small business development center. most cities have one or two or three. they'll give you everything to get legit, help you with competition strategy, and be honest with you about any flaws.
Also, work with other businesses. Sell complementary products. Call up the fitness clothing store, offer to keep a rtack of their stuff in your store for a markup or %. If you do this with 5 stores, you might have an awesome, maintained inventory of vendor goods without having any of the risk.
As many ways to get $ flowing in as possible - that is the goal. Remember that most people only have ONE source of income - their job. To me, that's crazy. I have many clients and several different fields that I work in at the same time - if any industry or client craps out, I still pay the bills.
Good luck to you! 90% of small businesses fail - the other 10% just work smarter AND harder, and above all, they pick something they love in the right field.
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No Matt, you have it backwards (not blasting you) you MUST have a plan for your money, you just can't randomly place your money and expect it to work for you, business is enough of a risk, if you value your money you will limit the risk by having a plan.
I was very patient and kept on reinvesting back into my business, also, it helps to have PASSION for what you do.
Sometimes you're a dumb fucking idiot Joe ( ;D), but what you're saying here is spot on!
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I forgot to click this link
http://www.sba.gov/smallbusinessplanner/index.html
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that's alot of capitalization, for that kind of business, have excellent credit and expect losses. i would'nt do it.
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that's alot of capitalization, for that kind of business, have excellent credit and expect losses. i would'nt do it.
I wouldn't do it either. now I'm gonna go kill myself for agreeing with you!
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how much startup capital you need - it all depends on the industry. I started a web design company with my laptop. 3 years later, i have 3 computers and a backup drive, and that's it. Not a lot of overhead - it's very service intensive though.
If you have to rent a place - it gets very costly and you've very invested in it.
If you have to hold high level of invetory - you incur many risks.
Choose your field wisely, and check out the competition. Learn more about your field by calling up companies in other states and asking them questions. Or visit local places (as an ordinary customer) and pick their brain. I've taken jobs at local web design firms and worked there for 2 days - learned everything I could about how they operate - and then quit and returned to running my own firm. You gotta learn everything you can - see what they do right, and wrong.
90% of business fail because 90% of people are lazy, and/or choose the wrong field.
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3 years later, i have 3 computers and a backup drive, and that's it.
Which explains the 3 additional gimmicks ;D
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No Matt, you have it backwards (not blasting you) you MUST have a plan for your money, you just can't randomly place your money and expect it to work for you, business is enough of a risk, if you value your money you will limit the risk by having a plan.
I was very patient and kept on reinvesting back into my business, also, it helps to have PASSION for what you do.
Money and no business plan trumps a business plan and having no money.
As I said, you can be the smartest person in the world with a great plan and get nowhere with no money. But as you said, money by itself will not necessarily get you anywhere either.
I would take a reduction in IQ of 30 points and a million dollars over only having my current resources and my current level of intelligence/ability to plan. Take for example, alcohol consumption and its effects on cognition - if I had the choice of having my current level of capital and intelligence or being given a million dollar grant but only usable while highly under the influence of alcohol, I would sooner take that option, because even with less planning ability and intelligence, the money would MORE than make up for it.
I can't do anything at all with my current level of capital and I don't see any options for someone like myself who has access to $50,000-$100,000 at most. If I had a million dollars I would invest in a turnkey business like a Tim Horton's and go from there.
I will continue to live like a miser until I have well into the six digits or up to a million dollars. By the time I am done by Ph.D, I hope to have half a million in savings/investments.
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Business are always risky. Doing them well lower the risk and higher the profit. If you how to do it, go for it. Look up diffrent locals, compare the prices of the rent and the locations. Then u look up different solarium companies and negotiate the best price.
Then you sit down, write down all your expenses and then you know how much costumers you need to survive. Does it seems reasonable then its up to you to take the step. If u got a business partner it would be easier too take the step but then u only got half the profit. Your choose!
But if u do take the step. Make sure to have good commercial, good service, a new renovated fresh place with nice furniching, make sure too make the cleaning EVERY day. It might be nice to have a waiting room with fresh Coffey tee water and some comfortable couch and newspapers magazines, a nice flat screen for those costumer who have to wait. In short therms, make your costumers feel as comfortable as possible.
Well, that was my thoughts about it. Good Luck Mr.
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Which explains the 3 additional gimmicks ;D
bingo
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Which explains the 3 additional gimmicks ;D
nah, they all have the same IP. And I don't get to post nearly as much as I'd like to.
I love to rag on you for politics joe, but I have to admit, your business sense is very keen. You outhustle everyone else.
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Every business should start with a written business plan
I never wrote one. Probably never will.
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nah, they all have the same IP. And I don't get to post nearly as much as I'd like to.
I love to rag on you for politics joe, but I have to admit, your business sense is very keen. You outhustle everyone else.
suck up
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I never wrote one. Probably never will.
of course you dont need one. that's rediculous
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Just to add......If you do just for the money, 9 times out of 10 you'll fail IMO....you have to love what you do.
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Just to add......If you do just for the money, 9 times out of 10 you'll fail IMO....you have to love what you do.
The majority of businesses fail, and I imagine a lot of them had a passion for what they were doing.
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SBA is WAY to hard. I have a great contact with them and she even says it is a little harder. They still require you to put up 30% cash of the amount of the loan you want. You also have to jump through many hoops (sometimes the same ones over and over) The good thing is you can get 10 years to pay it back with low interest and you get to own 100% of your business. The thing is though you cannot deviate at all from you Business Plan and your expenses. If you put down you are going to buy 4 beds and along the way you decided to add one more, you will not get those funds needed for that extra bed you want. I have the checklist and everything you need if you want it. I found it easier to just go and find a partner. I have done Business Plans for many others and have raised millions of dollars. My forte is gyms though. You will also need to put down almost to the penny what you need the loan for and itemized all the items. Once your application gets approved it can take as little as 3 weeks to get your money. But the lead up time to that is a lot longer. You will also need someone to sign for loan. And all your creditors (equipment lease, landlord etc.) will all have to sign a document they have stating the SBA is the first one to get paid. If you go under the SBA will be the first one to receive any money.
of course you dont need one. that's rediculous
You don't need one if the business is a little one and you are the owner and will run it. But you have to have one to find investors and if you plan to have partners. Most if not all banks require some sort of plan for a loan as does the SBA. Not having a Business Plan is almost telling people you don't exactly what you are going to do and will just "wing-it" Like Goodrum is doing.
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SBA is WAY to hard. I have a great contact with them and she even says it is a little harder. They still require you to put up 30% cash of the amount of the loan you want. You also have to jump through many hoops (sometimes the same ones over and over) The good thing is you can get 10 years to pay it back with low interest and you get to own 100% of your business. The thing is though you cannot deviate at all from you Business Plan and your expenses. If you put down you are going to buy 4 beds and along the way you decided to add one more, you will not get those funds needed for that extra bed you want. I have the checklist and everything you need if you want it. I found it easier to just go and find a partner. I have done Business Plans for many others and have raised millions of dollars. My forte is gyms though. You will also need to put down almost to the penny what you need the loan for and itemized all the items. Once your application gets approved it can take as little as 3 weeks to get your money. But the lead up time to that is a lot longer. You will also need someone to sign for loan. And all your creditors (equipment lease, landlord etc.) will all have to sign a document they have stating the SBA is the first one to get paid. If you go under the SBA will be the first one to receive any money.
You don't need one if the business is a little one and you are the owner and will run it. But you have to have one to find investors and if you plan to have partners. Most if not all banks require some sort of plan for a loan as does the SBA. Not having a Business Plan is almost telling people you don't exactly what you are going to do and will just "wing-it" Like Goodrum is doing.
having under 40 employees is a small business. nothing shameful starting out modest and being successful
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There's this tanning salon that I go to because it's the only one in the area (next closes is about 15 miles away). This is in Kaneohe, Hawaii which is an area that rains pretty much everyday at some level. This is the worse place I've ever seen. Expensive, they close at random times for breaks, lunch, errands.... The owner lives on the mainland and doesn't give a rip. The "manager" is her niece that only hires her dippy teenage girl friends that spend more time on the phone or talking to their desperate boyfriends that have nothing better to do but hang out in a salon taking up the few seats available. The bulbs suck and are poorly maintained. Try to find a bed that doesn't have a least one bulb out. Due to their frequent "computer problems" they've been closed for over a week. No one is happy with this place but only go there because it's the only salon in the area.
Because there is a ready made customer base (it's in an outdoor shopping center with lease space available with a 24hr fit right next door to the salon) I know that if another placed opened up and just actually stayed open during the posted hours they would shut this place down. Even their hours stink 10am-9pm wkdys and 11am-5pm wkends. And I'm sure I can do better than their $80/month unlimited on their crappy 20 min bed.
Hell, I'd be willing to sit there from 7am-11am and run the place myself. There's a lot of down time that I can use to read getbig (LOL). Also, I can hire my nephew that lives down the street to work a few hours while I go to 24hr to train 3-4 times a week.
I know that place too. I had met the owners once I think. The tanning salon next to 24 Hour in Aiea is unreal busy (if it is still there). That girl was trying to sell her place for about $150,000. Her place was packed all the time. The next to 24 Hour on Kapiolani is unreal too how much business they do.
having under 40 employees is a small business. nothing shameful starting out modest and being successful
Hey I would rather start off small and be successful but my problem is I have to do things big. I either make it big and make a lot of money or make it big and lose a lot of money. I have been very fortunate except once. My new business is again starting off big but the return is unreal. And the room fro growth is even bigger.
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You don't need one if the business is a little one and you are the owner and will run it. But you have to have one to find investors and if you plan to have partners. Most if not all banks require some sort of plan for a loan as does the SBA. Not having a Business Plan is almost telling people you don't exactly what you are going to do and will just "wing-it" Like Goodrum is doing.
No need to be mean to Goodrum - he pulls in three figures a year.
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I never wrote one. Probably never will.
Is this THEE 1Fast400? If so I've ordered from you before and you are the best and the fastest out there. Sometimes I think you guys have ESP which enables you to send out products I want before I even order them. When did you start and how long did it take to become so successful?
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of course you dont need one. that's rediculous
If you have a written plan, the chances of getting a loan improve greatly even if credit is flawed. (Collateral helps as well)
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Is this THEE 1Fast400? If so I've ordered from you before and you are the best and the fastest out there. Sometimes I think you guys have ESP which enables you to send out products I want before I even order them. When did you start and how long did it take to become so successful?
I'm pretty sure he sold the business a long time ago.
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I have done Business Plans for many others and have raised millions of dollars. My forte is gyms though. You will also need to put down almost to the penny what you need the loan for and itemized all the items. Once your application gets approved it can take as little as 3 weeks to get your money. But the lead up time to that is a lot longer. You will also need someone to sign for loan. And all your creditors (equipment lease, landlord etc.) will all have to sign a document they have stating the SBA is the first one to get paid. If you go under the SBA will be the first one to receive any money.
You should put your services to work man. The most intimidating thing I think is jumping into this unfamiliar fire of loans, Plans, rules, etc..
Your experience is a valuable asset. You are the kind of person most would need to lay out everything in direct terms. Have you charged for doing business plans in the past?
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yeah, onlyme knows a lot of stuff
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Money and intelligent use of it makes more money. Innovation makes money, but these days it usually requires money to be innovative (youtube, facebook). In other words, if you don't have money to begin with, don't expect to progress anywhere fast. And I don't mean having $50,000 in the bank, I mean having a million to play with.
you don't need a dime to make money...find an opportunity and use other people's money
A million dollars... Oh brother ::)
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Well, this definitely qualifies as a small biz because I will need maybe 3-4 employees. It has a ready and waiting customer base. Peeps are just begging for another place to go to -- including me. If I had the resources and know how I'd get on it tomorrow.
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you don't need a dime to make money...find an opportunity and use other people's money
A million dollars... Oh brother ::)
Oh geez, why didn't I think of that?! Yeah, having wealth isn't an advantage or anything. ::)
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Oh geez, why didn't I think of that?! Yeah, having wealth isn't an advantage of anything. ::)
my grandfather harry was a successful new york doctor who purchased a few shares of standard oil that's enabled us to do alot and create more wealth
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my grandfather harry was a successful new york doctor who purchased a few shares of standard oil that's enabled us to do alot and create more wealth
This is the exception, not the rule. Having money is a huge advantage.
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you said you NEED AT LEAST $1 million. You don't need a dime. Obviously it can't hurt to have cash, but it's not a necessity.
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you said you NEED AT LEAST $1 million. You don't need a dime. Obviously it can't hurt to have cash, but it's not a necessity.
Coupled with intelligence, I would say you need a million dollars to basically guarantee success. Said another way, if I had a million dollars cash, I would be able to live off that for the rest of my life. I'm a sharp guy, but anything short of a million dollars, and I wouldn't put a guarantee on it.
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Money and intelligent use of it makes more money. Innovation makes money, but these days it usually requires money to be innovative (youtube, facebook). In other words, if you don't have money to begin with, don't expect to progress anywhere fast. And I don't mean having $50,000 in the bank, I mean having a million to play with.
dude hes talking about a 6 to 10 bed ma and pop tanning salon , not opening wallmart!
I worked in a tanning joint about 15 yrs ago and the women spent about $15000 to open it(used equiptment,carpenters for rooms) ,did zero promotion since it was in a strip amll next to a gym, hired me and 1 other person for a few bucks an hour ad gave us free tanning. shes still there to this day making money ;)
get a decent location ,insurance, some used beds, hire 2 teens and worst case scenerio you recoup your money and sell the beds if it doesnt work out!
if theres a highschool or gym close by, you cant fail!
heres a wierd one, I was actually gonna by a house in upstate ny that had a barn converted into a 3 bed tanning salon out in the middle of nowhere, closest town was 15 minutes away and these people had tax reciepts showing they made 15 grand a yr profit just being open about 5 hrs aday in the middle of no mans land.
this was farrm country where all the homes were spaced 10 miles apart!
tanning salons equall a nice little business, just dont look to get rich..
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Coupled with intelligence, I would say you need a million dollars to basically guarantee success. Said another way, if I had a million dollars cash, I would be able to live off that for the rest of my life. I'm a sharp guy, but anything short of a million dollars, and I wouldn't put a guarantee on it.
having a mil in the bank means you will get 100k a year in interest, give or take.
Most of us could live well off 100k per year.
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having a mil in the bank means you will get 100k a year in interest, give or take.
Most of us could live well off 100k per year.
how couldn't you?
that would be nice ;D just off of interest
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This is the exception, not the rule. Having money is a huge advantage.
yeah i have the cheapest rolex, the cheapest mercedes and the cheapest bmw lol
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how couldn't you?
that would be nice ;D just off of interest
i agree. some people would split the million into chunks, put 250k in the market and 250k in 3 different businesses and see what comes up.
Me.... I'd invest 100k in ten different currencies and just spend the day in the pool watching tv. I dont want to work til i'm 70, thorwing millions on the pile.
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i agree. some people would split the million into chunks, put 250k in the market and 250k in 3 different businesses and see what comes up.
Me.... I'd invest 100k in ten different currencies and just spend the day in the pool watching tv. I dont want to work til i'm 70, thorwing millions on the pile.
why are you going to start working at 70?
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Firstly i think your business idea is a fantastic one because you have a market there with one player, that isn't servicing the market properly. In that way you don't even have to charge a lower price than them, just give better service which does not sound hard.
While i think a business plan is a great idea, things change in business all the time. As long as you understand your market and what is involved, don't stress about writing a plan. Some things you do may work, some may not. Writing down your costs and projected earnings is a good idea to make sure you are on the right way to making actual profit, rather than just losing money.
I started working for myself importing a product from China-already existing market but the price + lower overheads than the larger companies i am competiting against gave me an edge. Also the product is of a higher quality than my main competitors.
I had some retailers i thought i would get my product into that i haven't, and some i didn't think that i have. I have had different ideas come up along the way on how to do things. I didn't write everything down in a plan, but i know what my goal is and everything i do is working towards it. Last week i had one great day and that showed me that all my ideas were correct and to keep doing what i am doing.
I think if you have the idea and are determind to succeed no matter what you can definately make it. Think of it this way, the hardest things i've ever done in my life are those heavy sets of squats and deads. If i can do what it takes to do them, everything else is piss easy ;)
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how couldn't you?
that would be nice ;D just off of interest
Exactly.
It isn't necessarily that hard to earn a million dollars either - we all will within our lifetimes. The question is, will we save it and invest it properly? My sister's in laws earned a million dollars in their lifetimes in their careers as teachers and now live off investments. It's quite possible.
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ewww no chinese stuff...people hate that india yes poland yes china no
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You should put your services to work man. The most intimidating thing I think is jumping into this unfamiliar fire of loans, Plans, rules, etc..
Your experience is a valuable asset. You are the kind of person most would need to lay out everything in direct terms. Have you charged for doing business plans in the past?
Yes I have. I wrote a plan for a guy starting a roofing business. I told him i would do it for 3% of his approved loan. he got $400,000. I just recently finished the one for the gym I am opening here. I have done others for gyms and even some baby toy store.
Mindspin is right when you don't need a dime to start a business. As much money as I have made since 1986, I have spent and lost many times more. The problem is the reason I lost the bulk of my money is because I trusted others with it and the future of it. That was my mistake. I have paid for it dearly. What I have on my side though is my past experience, past accomplishments, and my past history. As much as some people rag on me talking about my past, this is several of the reasons why. I survive today and am building a hell of a future because of my past. If you haven't noticed I don't look the part of someone who should own a gym or know about training or whatever else in this industry. But luckily, many many many people do know that I do know this industry and what to do in it. That is why I can do what I do today. Compared to what I used to have I have nothing. I survive and survive very well, but compared to my past I am nothing financially. But, with that said my Business Plan and my hard work over the past several months has put over $2.5 million secured for this gym in Vegas and I can get more when I need it. A strong Business Plan and having a team like I put together is what is going to make my business successful. Also, me being on top of everything and not trusting others is what will keep it going forward.
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Yes I have. I wrote a plan for a guy starting a roofing business. I told him i would do it for 3% of his approved loan. he got $400,000. I just recently finished the one for the gym I am opening here. I have done others for gyms and even some baby toy store.
Mindspin is right when you don't need a dime to start a business. As much money as I have made since 1986, I have spent and lost many times more. The problem is the reason I lost the bulk of my money is because I trusted others with it and the future of it. That was my mistake. I have paid for it dearly. What I have on my side though is my past experience, past accomplishments, and my past history. As much as some people rag on me talking about my past, this is several of the reasons why. I survive today and am building a hell of a future because of my past. If you haven't noticed I don't look the part of someone who should own a gym or know about training or whatever else in this industry. But luckily, many many many people do know that I do know this industry and what to do in it. That is why I can do what I do today. Compared to what I used to have I have nothing. I survive and survive very well, but compared to my past I am nothing financially. But, with that said my Business Plan and my hard work over the past several months has put over $2.5 million secured for this gym in Vegas and I can get more when I need it. A strong Business Plan and having a team like I put together is what is going to make my business successful. Also, me being on top of everything and not trusting others is what will keep it going forward.
trust a few...keep it controlled onlyme because being nice they'll try to fuck you over again and again
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trust a few...keep it controlled onlyme because being nice they'll try to fuck you over again and again
I do trust a few with me now. Before the people were after my money and the money the company made. It is amazing how people change when a lot of money starts to be generated. I am very lucky this time that I caught what was happening at the beginning. Or I would have found myself in the same problem I had on my last two large ventures. This time around I am sticking with my guns and it is working out great. I am getting too old to let people play with me and reap the riches of my hard work. I am lucky cause I have found great and very loyal people to be with me this time and so far everyone is watching my back.
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I hate to say it, but that sounds like a drug dealing front if I'd ever heard of one.
All signs are there: Absentee owner; manager lets freinds hang out and hires them to hangaround and talk on phones, not change bulbes, etc.
Buylbs never cleaned/ beds not 'serviced?"
Call health department...they will shut them down THAT DAY
Correct: if a tip-top salon opens today...the old one will be gone.
Mike
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There's this tanning salon that I go to because it's the only one in the area (next closes is about 15 miles away). This is in Kaneohe, Hawaii which is an area that rains pretty much everyday at some level. This is the worse place I've ever seen. Expensive, they close at random times for breaks, lunch, errands.... The owner lives on the mainland and doesn't give a rip. The "manager" is her niece that only hires her dippy teenage girl friends that spend more time on the phone or talking to their desperate boyfriends that have nothing better to do but hang out in a salon taking up the few seats available. The bulbs suck and are poorly maintained. Try to find a bed that doesn't have a least one bulb out. Due to their frequent "computer problems" they've been closed for over a week. No one is happy with this place but only go there because it's the only salon in the area.
here's where I wanna clear it up for ya...
Because there is a ready made customer base (it's in an outdoor shopping center with lease space available with a 24hr fit right next door to the salon) I know that if another placed opened up and just actually stayed open during the posted hours they would shut this place down. Even their hours stink 10am-9pm wkdys and 11am-5pm wkends. And I'm sure I can do better than their $80/month unlimited on their crappy 20 min bed.
If YOU are the only one there for those hours...you will certifiably go nuts.
There hours don't seem THAT bd...can you improve on them...yes. Will it be worth it...marginally, at best.Hell, I'd be willing to sit there from 7am-11am and run the place myself. There's a lot of down time that I can use to read getbig (LOL). Also, I can hire my nephew that lives down the street to work a few hours while I go to 24hr to train 3-4 times a week.
You will have bought yourself a "dollars for hours job" that only allows you to make money when YOU ARE THERE. If you use your 'downtime' (there should be none of that in a real buisiness) reading getbig and others, you inmcrease your odds of failing.
PS DO NOT HIRE RELATIVES. They will dissapoint you.
Mike
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Great Owner, BAD staff story
A dunkin' Donuts that I had frequently visited: i walked in one morning, and got caught in the middle of as donut fight amongst the 'staff' of youngstersd employed ther.
A munchkin hit me in the head.
I gave them a stare ala Saddam Hussein, glared at the...no apology made, ordered my stuff and left .
Chuckling and giggling was heard by me, unbeknownst to the kids ruining the place.
Also unbeknownst to the was that the owner of the string of DD's, and this was
also my patient.
I called him, and he said all his workers denied everything I said.
Was I wrecked?
Umm, no.
My patient simply reveiewd his surveillance tapes, and there was the "everybody was kung-fu fighting with munchkins clip!
Classic. Told him to please burn it!
Oh, by the way, the next day my patient fired EVERYONE fro that day's shift, innocent or guilty.
Now THAT's the way to do something!
And it ain't easy to staf these places, so props to him. He could have gotten sued very easily.
Mike
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1: You get some resources, educate yourself about the different aspects of business, and talk to some people that have already succeeded to get good tips and feedback.
2: You make a commitment to learn the skills needed to succeed in business, and then you go out and do it.
3: Get a good team of advisors/helpers to help you out.
damn man why dont you always post intelligent stuff like this
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Some of my rules:
1. If possible...DO NOT have partners...whether business fails or thrives, the partnership almost always becomes a calamity and dies
2. Use your own money at first, if possible. It may be toughert if you start on your own. But the bank will own nothing, reinvest pofits only into the buisness and expand (remember, you must exceed the other salon's business and such)..but do it slowly.
3. Focus on things I GUARANTEE they are not doing: offering fresh fruit or bottled water, free, each session (costs nothing to do this); greeting each person cheerfully at beginning and end of each visit (instead of the snot-bag little hissies who are more inerested in talking the phone (this is where I sometimes used my cell-phone jammer until I got fed up enough and bought my own tanning bed for my house) .
4. Doing the above things (including a monthly newsletter sent to all past and current clients about fun, useful, helpful things for thei skin and health). Believe me, not ONE of your competitors does this...and you will be building RELATIONSHIPS with your clients.
Your compoetition is not/ will not do these things.
So, you will not be the BEST.
You will be the ONLY...and for being that...you will be tyhe ONLY one in yopur local industry to see.
How do ya like dem apples?
Mike
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Some of my rules:
1. If possible...DO NOT have partners...whether business fails or thrives, the partnership almost always becomes a calamity and dies
2. Use your own money at first, if possible. It may be toughert if you start on your own. But the bank will own nothing, reinvest pofits only into the buisness and expand (remember, you must exceed the other salon's business and such)..but do it slowly.
3. Focus on things I GUARANTEE they are not doing: offering fresh fruit or bottled water, free, each session (costs nothing to do this); greeting each person cheerfully at beginning and end of each visit (instead of the snot-bag little hissies who are more inerested in talking the phone (this is where I sometimes used my cell-phone jammer until I got fed up enough and bought my own tanning bed for my house) .
4. Doing the above things (including a monthly newsletter sent to all past and current clients about fun, useful, helpful things for thei skin and health). Believe me, not ONE of your competitors does this...and you will be building RELATIONSHIPS with your clients.
Your compoetition is not/ will not do these things.
So, you will not be the BEST.
You will be the ONLY...and for being that...you will be tyhe ONLY one in yopur local industry to see.
How do ya like dem apples?
Mike
I read a while back about you saying you had terminal cancer or some shit. You serious about that?
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Said another way, if I had a million dollars cash, I would be able to live off that for the rest of my life.
Yeah but your frugal, thats ok, but most people love to enjoy lifes luxurie and not watch over every penny, and at the same time most people live beyond there means
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It is not terminal, but not one that just shuffles away on its own, either.
And yes, unlike many of the jokesters here, I am serious about 'shit like that'.
I am scheduled for surgery either Monday or thursday, so I am hoping for best.
Mike
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Yeah but your frugal, thats ok, but most people love to enjoy lifes luxurie and not watch over every penny, and at the same time most people live beyond there means
Yes, that is true. The average Canadian household spends something like 3% more than their income every year. I am very frugal and have no problems with that. You know that simply living in North America makes us in the top 8% of wealthiest people in the world? I'm grateful for my health, friends, access to education, getbig.com, etc. I tried to determine what infinite money would do to my subjective perception of happiness, and I felt it would not bring it up more than just a little. 8% sounds about right actually! More money would improve my quality of life, but my point is that simply by virtue of being a comfortably living Canadian citizen, I already have almost everything that virtually everyone in the world strives for and rarely get. This goes for all of us, so be grateful! No doubt many of you are aware of the horror stories that go on in the rest of the world.
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1) spend thousands of your own money to gain notoriety as someone who will never win an olympia, but place top 3 once or twice, then complain about politics and your race for the reasons you don't win, eventhough you have no back.
2) build a very small but fanatically loyal fan base of say 1 person to whom you can sell your soiled garments to.
3) have said person spam your name and pictures as well as his 'relationship' with you on GetBig to keep your memory alive, only because your physique couldn't.
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Yeah but your frugal, thats ok, but most people love to enjoy lifes luxurie and not watch over every penny, and at the same time most people live beyond there means
Maybe you could, a million bucks, clear and tax-free, IS a lot of cash, despite what you hear on CNN (communist news network).
How old are you? If you could generate a conservative 6-8% per year (historic gains of both real estate and stock market in their history , AFTER 1.5% average fund fee and 1.5% fin. planner fee)...you could generate 60-80K per year.
You'd have to look at how many years you'd live, inflation. It can be done. I suggest finding something you really love to do (you know, the things most miserable people plan on doing at 67 or so when they retire). Be a ski instructor, do voluntee work, work on a lobster boat.
You know, cool, fun things. You know, if they suck, you could quit 'em and move on.
One Million gives you that freedom.\\
Mike
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Yes, that is true. The average Canadian household spends something like 3% more than their income every year. I am very frugal and have no problems with that. You know that simply living in North America makes us in the top 8% of wealthiest people in the world? I'm grateful for my health, friends, access to education, getbig.com, etc. I tried to determine what infinite money would do to my subjective perception of happiness, and I felt it would not bring it up more than just a little. 8% sounds about right actually! More money would improve my quality of life, but my point is that simply by virtue of being a comfortably living Canadian citizen, I already have almost everything that virtually everyone in the world strives for and rarely get. This goes for all of us, so be grateful! No doubt many of you are aware of the horror stories that go on in the rest of the world.
your a smart dude, keep it up, im similiar i do splurge a bit but its my cash and not credit, so im ok
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It is not terminal, but not one that just shuffles away on its own, either.
And yes, unlike many of the jokesters here, I am serious about 'shit like that'.
I am scheduled for surgery either Monday or thursday, so I am hoping for best.
Mike
Well in that case, I wish you all the best for a speedy recovery. In the past year my dad and grandmother had "terminal" cancer (throat for dad, colon for grandma), and both have beat it through surgery and chemo. Cancer is ugly shit.
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Money and intelligent use of it makes more money. Innovation makes money, but these days it usually requires money to be innovative (youtube, facebook). In other words, if you don't have money to begin with, don't expect to progress anywhere fast. And I don't mean having $50,000 in the bank, I mean having a million to play with.
i started a plow business for 40k total. now 7 years running.
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Well in that case, I wish you all the best for a speedy recovery. In the past year my dad and grandmother had "terminal" cancer (throat for dad, colon for grandma), and both have beat it through surgery and chemo. Cancer is ugly shit.
sucks about your dad and grandma, good to hear they recovered.
I say you should take early precaution against throat cancer by sucking less cock ;D
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Thanks, Pandaemonium.
They have been baffled with my case. The worst thging is it has made me very tired and I have basically laid in bed for about a month.
I am no champion anymore at 44, but stay in lean decent shape most of the year.,
So, imagine, atop of being sick...laying there, getting "skinny fat", not being able to train!
Cholestrol is actually at 300! I have never had more than 160...
Never thought I'd care after being stricken by such awful disease, but, actually, you do, my friend!
Best,
Mike
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having a mil in the bank means you will get 100k a year in interest, give or take.
Most of us could live well off 100k per year.
what bank pays 10% interest? i dont keep money in the bank but i thought 5% was around the max you get for intrest.
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i a plow business for 40k total. now 7 years running.
Great! Running one's own business is among the hardest things to do!
Mike
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Well in that case, I wish you all the best for a speedy recovery. In the past year my dad and grandmother had "terminal" cancer (throat for dad, colon for grandma), and both have beat it through surgery and chemo. Cancer is ugly shit.
Sorry..I missed that...God bless and best of continued luck for grandmom and dad.
Mike
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what bank pays 10% interest? i dont keep money in the bank but i thought 5% was around the max you get for intrest.
Banks around here will give you 1-3% interest. Then, they will walk up to you while you are waiting in line and offer you a bank credit card for 19% interest.
So, they give you one to three % on YOUR money, then loan YOUR money back to you at 19%!!!
Mike
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This is from the IRS website.
It gives you the nuts and bolts of starting a business.
http://www.irs.gov/publications/p583/index.html (http://www.irs.gov/publications/p583/index.html)
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Is this THEE 1Fast400? If so I've ordered from you before and you are the best and the fastest out there. Sometimes I think you guys have ESP which enables you to send out products I want before I even order them. When did you start and how long did it take to become so successful?
I sold 1fast400 and bulknutrition in June of 06. I'm still involved in the supplement industry, just private about it. Own a race track in NC. Started the online site in July of 02, was on track to do 10m in sales in 06 before I sold. I started my first retail store in 11/01 by putting 30k in a cd and borrowing 45k against it. It was my life savings at that point (was 21 years old). I had worked all through college and saved every penny. I didn't pay myself for a 18 months to get the business going. I lived at home, never went out and cut every expense I possibly could.
When you're on the hook personally, it's amazing what you're willing to give up and do to succeed. At the time I sold, my salary was 30k a year.
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Money and intelligent use of it makes more money. Innovation makes money, but these days it usually requires money to be innovative (youtube, facebook). In other words, if you don't have money to begin with, don't expect to progress anywhere fast. And I don't mean having $50,000 in the bank, I mean having a million to play with.
God you're stupid.
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Every business should start with a written business plan.
I didnt write any plan JOELOCO. I went to china, dealt with some yellow faced guys and started to buy a "few" containers wort 40k each one.
Where is the plan?
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what bank pays 10% interest? i dont keep money in the bank but i thought 5% was around the max you get for intrest.
What i know most bank only give 4-5% interest per year at best and then you have to pay taxes on it too!
So 1.000.000 x 0.05 (5% interest)
=50.000 x 0.30 minus (30% tax) (tax percentage can vary)
=15.000 tax
and you now have left
=35.000
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When you have a million dollars to invest, it's common to find ventures/investments to make 10%
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Great Owner, BAD staff story
A dunkin' Donuts that I had frequently visited: i walked in one morning, and got caught in the middle of as donut fight amongst the 'staff' of youngstersd employed ther.
A munchkin hit me in the head.
I gave them a stare ala Saddam Hussein, glared at the...no apology made, ordered my stuff and left .
Chuckling and giggling was heard by me, unbeknownst to the kids ruining the place.
\
I worked at a Winn Dixie grovery store. the whole stock crew was a worlthless group of slugs. One night we started throwing things at each other, and ended up breaking open a bunch of pack sof Big Sixty cookies (little ghetto store brand cookies) and throwing them at each other. It didn't help that the whole stock crew was under 21 and the manager was a 22 year old pothead.
We must have damaged a hundred dollars worth of cookies, doughnuts, and other snacks. Tearing them open and throwing them at each other. The whole backroom was covered in food and crumbs. stupid and immature, but fun, very fun.
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what bank pays 10% interest? i dont keep money in the bank but i thought 5% was around the max you get for intrest.
safe and predictable mutual funds.
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When you have a million dollars to invest, it's common to find ventures/investments to make 10%
Investing in the gym industry you can expect to make 18% but there is also a higher risk.
Invest in a CD and you get a guarenteed 4% but no risk involved.
The higher the risk the higher the reward.
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retail is a big mofo very hard to make real coin, almost better to go to bizbuysell or something find a business thats been around and try to get a deal and take it over (given lease aint about to expire or new big competition is coming to area etc etc but plenty of people sell for other reasons)
resturant business = 99% you will be out of business first year
fast food = if you know what you doing youll stay in business question is how well you can do it
tanning salon = must offer good beds like high pressure in order to charge good fees (not hollywood tan junk) and must have good credit as these beds will run ya 25-60K so lease is a must
gas stations - good business youll need many to have cash to write home about
in retail there is an old rule u invest little u make little u invest allot u make a llot (given it even survives)
steakhouse + strip club will take serious money but in good spot will take in nice cashola
again retail is a big miss to most who touch it
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I didnt write any plan JOELOCO. I went to china, dealt with some yellow faced guys and started to buy a "few" containers wort 40k each one.
Where is the plan?
I agree if you are your own boss and you don't have a bunch of employees and you are operating out of your house you don't need a plan. I had a painting business once and a neon business and i never had a plan. I winged it just like you did. That is fine for things like that. But when you are doing something like a gym or major business you NEED a Business Plan. There are so many facets to a gym you don't realize until you put them down in writing. When you have to have 30 to 75 employees and you have 5 to 10 Ancillary Profit Centers and you are dealing with 30 to 60 different vendors, and you have 5,000+ members and a daily flow of customers exceeding 3,000 people you need to know (and everyone else involved) how you are going to manage everything. The Business Plan I just finished is 69 pages. The financial portion of it would have cost in the neighborhood of around $100,000 to complete. That portion alone took more than 2 months and more than 35 versions of the "model". It included getting many facts and figures from our competition and market feasibility. Vegas has a huge amount of gyms and health clubs. Building one of our size is a major task. I have 5 of them planned just for Vegas. But Vegas does grow by 6,000+ people a month. So the market is there, especially for our type of club.
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I agree if you are your own boss and you don't have a bunch of employees and you are operating out of your house you don't need a plan. I had a painting business once and a neon business and i never had a plan. I winged it just like you did. That is fine for things like that. But when you are doing something like a gym or major business you NEED a Business Plan. There are so many facets to a gym you don't realize until you put them down in writing. When you have to have 30 to 75 employees and you have 5 to 10 Ancillary Profit Centers and you are dealing with 30 to 60 different vendors, and you have 5,000+ members and a daily flow of customers exceeding 3,000 people you need to know (and everyone else involved) how you are going to manage everything. The Business Plan I just finished is 69 pages. The financial portion of it would have cost in the neighborhood of around $100,000 to complete. That portion alone took more than 2 months and more than 35 versions of the "model". It included getting many facts and figures from our competition and market feasibility. Vegas has a huge amount of gyms and health clubs. Building one of our size is a major task. I have 5 of them planned just for Vegas. But Vegas does grow by 6,000+ people a month. So the market is there, especially for our type of club.
Debussey might give you a lot of shit, but you certainly know a lot about business! :D
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Debussey might give you a lot of shit, but you certainly know a lot about business! :D
Hey like I said I don't look the part anymore so I better use my brain now till I can get back into shape. And actually you have surprised me cause you have shown some good knowledge too in this thread.
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I agree if you are your own boss and you don't have a bunch of employees and you are operating out of your house you don't need a plan. I had a painting business once and a neon business and i never had a plan. I winged it just like you did. That is fine for things like that. But when you are doing something like a gym or major business you NEED a Business Plan. There are so many facets to a gym you don't realize until you put them down in writing. When you have to have 30 to 75 employees and you have 5 to 10 Ancillary Profit Centers and you are dealing with 30 to 60 different vendors, and you have 5,000+ members and a daily flow of customers exceeding 3,000 people you need to know (and everyone else involved) how you are going to manage everything. The Business Plan I just finished is 69 pages. The financial portion of it would have cost in the neighborhood of around $100,000 to complete. That portion alone took more than 2 months and more than 35 versions of the "model". It included getting many facts and figures from our competition and market feasibility. Vegas has a huge amount of gyms and health clubs. Building one of our size is a major task. I have 5 of them planned just for Vegas. But Vegas does grow by 6,000+ people a month. So the market is there, especially for our type of club.
Are gyms a good deal anyway?
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Are gyms a good deal anyway?
I don't think starting a gym smaller than 15,000 to sq. ft. is feasible. You cannot survive with a gym when all you can offer is a weight room and some cardio and a small locker room. You cannot compete against your competition unless you offer at least what they offer and more. Now in a small rural town where there are no BIG BOYS (24 Hour Fitness, BAllys, Gold's etc) then you can get away with a smaller facility. But, in cities where you have competition you need more. You have to have locker rooms and they have to be extra special. You can't have cheap lockers, ugly floors and gang showers. You have to have sufficient amount of cardio equipment. You have to have more pieces of the equipment that is used more. Treadmills and Ellipticals are the most popular pieces of cardio nowadays. For example my club will provide 108 pieces of cardio. I am having some specialized pieces coming in. My club is also targeting more of a "functional training" concept. A place that will provide equipment, services and programs targeted towards improving a person performance in sports and everyday activities. Not just a place to get big muscles and lose weight.
MMA is the fastest growing sport in the world. When we open we will immediately become one of the largest MMA training centers and will be the largest one of its type in the world. I also have one of the biggest names in the MMA industry as the person who is going to be in charge of my MMA division. So immediately I will have worldwide recognition. I wouldn't want to do a gym unless it was going to be successful and popular. I have millions riding on this and so far it looks to be a homerun.
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onlyme
So basically your gym does not exist YET? ::)
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I don't think starting a gym smaller than 15,000 to sq. ft. is feasible. You cannot survive with a gym when all you can offer is a weight room and some cardio and a small locker room. You cannot compete against your competition unless you offer at least what they offer and more. Now in a small rural town where there are no BIG BOYS (24 Hour Fitness, BAllys, Gold's etc) then you can get away with a smaller facility. But, in cities where you have competition you need more. You have to have locker rooms and they have to be extra special. You can't have cheap lockers, ugly floors and gang showers. You have to have sufficient amount of cardio equipment. You have to have more pieces of the equipment that is used more. Treadmills and Ellipticals are the most popular pieces of cardio nowadays. For example my club will provide 108 pieces of cardio. I am having some specialized pieces coming in. My club is also targeting more of a "functional training" concept. A place that will provide equipment, services and programs targeted towards improving a person performance in sports and everyday activities. Not just a place to get big muscles and lose weight.
MMA is the fastest growing sport in the world. When we open we will immediately become one of the largest MMA training centers and will be the largest one of its type in the world. I also have one of the biggest names in the MMA industry as the person who is going to be in charge of my MMA division. So immediately I will have worldwide recognition. I wouldn't want to do a gym unless it was going to be successful and popular. I have millions riding on this and so far it looks to be a homerun.
What's up, Keith? I spoke with you before when I first moved back to Hawaii (my old id is still in time out). I was referred to you by MaxRep/Dave. I trained with the Gracies in Torrance when they moved out of their garage and opened up their academy in Torrance. I knew Craig Kukuk. I also knew Benny Podda when I worked at Barlow's/Kasey's gym while you were over at Muscle Mill with Ray Mentzer.
I also use to go to Tequilla Willies back in the alley catting days. You've probably thrown me out a few times. Lol. Naw, actually I was a choir boy and never drank but my friends were the crazy ones. I was the one who drove everybody home and dumped them on their lawns and leave them to sleep in their own puke.
You know the salon I'm talking about. Ideal location. Right next to 24fit and with Castle High school right across the street. That place sucks royally and I know I could get all their customers because they all hate that place but it's the only game in town. There's lease place available in the shopping center and I just need to know how to get started or even if I'm able to. I'm going to get in touch with a buddy I knew in Torrance, Jerry Gamalo, who made a mint off tanning salons, sold out to Copper Tan (which is the biggest chain in the area) and opened up his own private gym off Anza ave and is living large. Makes good money and lots of free time to train and eat whole chickens at El Pollo Loco (I wish they had that here in Hawaii). By the way, Quincy (mighty mouse) now runs the 24fit at Kaneohe. Word is there was too much pressure being the district mgr and he just wanted to just manage one gym. Maybe I'll have a better chance getting hired there as a PT since the flabby Haole guy that ran the place last year didn't like me.
You told me about opening a gym which included an MMA gym. I think you said it was going to be affliated with BJ Penn. Since I never made it as a fighter this would be the next best thing to me. But I tend to go with Nasser when he said that unless you're with a chain (24hr or LAfitness) then it's tough to make any scratch and the start up cost is huge.
I wish you were here on Oahu. This salon gig would be kid stuff for you. It's a sure money maker because, crappy as it is, it still makes a profit. The owner lives in Newport beach in Cali which is pretty rich turf. BTW, what gym here has the 300lb dumbells? I've got to check it out and take a pic to post on this board.
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What's up, Keith? I spoke with you before when I first moved back to Hawaii (my old id is still in time out). I was referred to you by MaxRep/Dave. I trained with the Gracies in Torrance when they moved out of their garage and opened up their academy in Torrance. I knew Craig Kukuk. I also knew Benny Podda when I worked at Barlow's/Kasey's gym while you were over at Muscle Mill with Ray Mentzer.
I also use to go to Tequilla Willies back in the alley catting days. You've probably thrown me out a few times. Lol. Naw, actually I was a choir boy and never drank but my friends were the crazy ones. I was the one who drove everybody home and dumped them on their lawns and leave them to sleep in their own puke.
You know the salon I'm talking about. Ideal location. Right next to 24fit and with Castle High school right across the street. That place sucks royally and I know I could get all their customers because they all hate that place but it's the only game in town. There's lease place available in the shopping center and I just need to know how to get started or even if I'm able to. I'm going to get in touch with a buddy I knew in Torrance, Jerry Gamalo, who made a mint off tanning salons, sold out to Copper Tan (which is the biggest chain in the area) and opened up his own private gym off Anza ave and is living large. Makes good money and lots of free time to train and eat whole chickens at El Pollo Loco (I wish they had that here in Hawaii). By the way, Quincy (mighty mouse) now runs the 24fit at Kaneohe. Word is there was too much pressure being the district mgr and he just wanted to just manage one gym. Maybe I'll have a better chance getting hired there as a PT since the flabby Haole guy that ran the place last year didn't like me.
You told me about opening a gym which included an MMA gym. I think you said it was going to be affliated with BJ Penn. Since I never made it as a fighter this would be the next best thing to me. But I tend to go with Nasser when he said that unless you're with a chain (24hr or LAfitness) then it's tough to make any scratch and the start up cost is huge.
I wish you were here on Oahu. This salon gig would be kid stuff for you. It's a sure money maker because, crappy as it is, it still makes a profit. The owner lives in Newport beach in Cali which is pretty rich turf. BTW, what gym here has the 300lb dumbells? I've got to check it out and take a pic to post on this board.
Hey PM me to tell me who you are. I know that location. It is good since it is right next to the gym. I'm not doing anything with the Penn family on this gym though. I do have someone else who is running my MMA center though. I love the Penn family and they were good to me but I needed to do something that will help me more so I had to leave there. But I am sure we will do something together again. I do plan on opening in Hawaii. I plan to go to Kona first though since I have a grudge against a guy over there I need to get back at.:D
How many beds does that place have. If you can find out how many people are using the beds each day and what times. Those hours they are opened might be okay if they didn't get any customers in during those hours. Also, I personally like the "stand-up" units better. They take up less room and take less cleaning and maintenance. How many sq. ft. is that place and what is their rent. Do they give the members at 24 a better deal than the general public. And the way these tanning salons make money is not from the tanning itself it is from selling of the tanning products and other shit they offer. The tanning is just to get them in the door. You would be lucky to make enough to pay all your hard costs from the tanning alone. You need to find the best products and get them at the best price you can so your profit margin is high.
Over there tanning is a great business. People who use them usually work all day and don't get chance to go to the beach except weekends. So using the beds once or twice week keeps them tan. Plus, with the standup units the fatter person can use them too. Not to sound mean but that is a fact.
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Hey by the way did I look okay when I worked at Tequilla Willies ;D
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Hey by the way did I look okay when I worked at Tequilla Willies ;D
I'll get back to you on the info.
During the Tequilla Willies days, although my posse and I use to consider ourselves alpha males and whenever we'd walk into a club women would swoon and men would avert their eyes in fear and envy, even WE would show our respect to onlyme with a slight bow and utter "Greetings your Awesomeness. May you grant us the privilege of entering this fine establishment." Without a word you'd give a condescending wave of the hand and we would scurry in with overt displays of gratitude.
Remember, I was the one who told you about seeing Ken Waller at one of the clubs in Redondo Beach. While my friends were acting like tough guys they were totally unaware that Waller was eyeing us. As he walked towards us I thought that a beat down was coming but he just walked right past us while I, like a puppy dog, followed him to just see him walk to his car with a couple of his buddies. He was wearing shorts (of course) and one of my friends who was with me said, "Look at that dude's calves!" He never saw PI so I just told him, "Brah, that's Ken f-ing Waller!" Then I nodded and kind of said in a more hushed tone, kind of like just to myself, "That's Ken f-ing Waller. I just practically brush shoulders with Ken f-ing Waller."
Anyway, I'm off to 24fit right now and I'll scope out Tan Zone.
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I don't think starting a gym smaller than 15,000 to sq. ft. is feasible. You cannot survive with a gym when all you can offer is a weight room and some cardio and a small locker room. You cannot compete against your competition unless you offer at least what they offer and more. Now in a small rural town where there are no BIG BOYS (24 Hour Fitness, BAllys, Gold's etc) then you can get away with a smaller facility. But, in cities where you have competition you need more. You have to have locker rooms and they have to be extra special. You can't have cheap lockers, ugly floors and gang showers. You have to have sufficient amount of cardio equipment. You have to have more pieces of the equipment that is used more. Treadmills and Ellipticals are the most popular pieces of cardio nowadays. For example my club will provide 108 pieces of cardio. I am having some specialized pieces coming in. My club is also targeting more of a "functional training" concept. A place that will provide equipment, services and programs targeted towards improving a person performance in sports and everyday activities. Not just a place to get big muscles and lose weight.
MMA is the fastest growing sport in the world. When we open we will immediately become one of the largest MMA training centers and will be the largest one of its type in the world. I also have one of the biggest names in the MMA industry as the person who is going to be in charge of my MMA division. So immediately I will have worldwide recognition. I wouldn't want to do a gym unless it was going to be successful and popular. I have millions riding on this and so far it looks to be a homerun.
When this gym opens let us know, I would love to check it out
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When this gym opens let us know, I would love to check it out
If it ever open, thats it
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onlyme
So basically your gym does not exist YET? ::)
No it should be open sometime later this year. We have several inquiries about opening in other locations. There are steps and right now we are on the last one till we secure the lease. I have been going back and forth between two locations and I like one more than the other. It all depends on the terms I can get and that is where we are at.
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Crap! You started in 01 and by 06 you were on track to do 10mil in sales! And you're only in your twenties! How the hell do you do it?
Monster props to you. You're one of the reasons that makes this country great.
I sold 1fast400 and bulknutrition in June of 06. I'm still involved in the supplement industry, just private about it. Own a race track in NC. Started the online site in July of 02, was on track to do 10m in sales in 06 before I sold. I started my first retail store in 11/01 by putting 30k in a cd and borrowing 45k against it. It was my life savings at that point (was 21 years old). I had worked all through college and saved every penny. I didn't pay myself for a 18 months to get the business going. I lived at home, never went out and cut every expense I possibly could.
When you're on the hook personally, it's amazing what you're willing to give up and do to succeed. At the time I sold, my salary was 30k a year.
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Hey PM me to tell me who you are. I know that location. It is good since it is right next to the gym. I'm not doing anything with the Penn family on this gym though. I do have someone else who is running my MMA center though. I love the Penn family and they were good to me but I needed to do something that will help me more so I had to leave there. But I am sure we will do something together again. I do plan on opening in Hawaii. I plan to go to Kona first though since I have a grudge against a guy over there I need to get back at.:D
How many beds does that place have. If you can find out how many people are using the beds each day and what times. Those hours they are opened might be okay if they didn't get any customers in during those hours. Also, I personally like the "stand-up" units better. They take up less room and take less cleaning and maintenance. How many sq. ft. is that place and what is their rent. Do they give the members at 24 a better deal than the general public. And the way these tanning salons make money is not from the tanning itself it is from selling of the tanning products and other shit they offer. The tanning is just to get them in the door. You would be lucky to make enough to pay all your hard costs from the tanning alone. You need to find the best products and get them at the best price you can so your profit margin is high.
Over there tanning is a great business. People who use them usually work all day and don't get chance to go to the beach except weekends. So using the beds once or twice week keeps them tan. Plus, with the standup units the fatter person can use them too. Not to sound mean but that is a fact.
The place is small and they have on restroom facilities on the premises which is why they are closed at random hours as the girls have to walk down to the public bathrooms. This along with their lunch breaks and errands makes for a very unprofessionally run biz. They have six beds: one orbit, one stand up and four regular 20 min beds that do nothing for me. Actually only the orbit is decent though they advertise the stand up one as the strongest but since the max time is only ten minutes it really doesn't do much for you if you have some color already. The lease space in that open mall is $2.30/sqft. Don't know if that's good or bad for the area which is prime.
If I owned a place I wouldn't mind extended hours if I work it myself because once you get going everything is a fixed cost. The lease space and equipment and everything else is already paid for so it doesn't cost anything extra to keep the doors open. BTW, this is what they charge -- note the expiration dates. This is unheard of when I was in Torrance/Redondo Beach.
Hours: Mon-Sat: 10am-9pm, Sun: 10am-5pm
1month unlimited: 20min bed: $80.00, 15min bed: $100.00, 10min stand up bed: $120.00
5 tans expires in 15 days: 20min: $40 15min: $45 10min: $50
10 tans expires in 30 days: “ $70 “ $75 “ $80
15 tans expires in 30 days: “ $90 “ $95 “ $100
20 tans expires in 45 days “ $110 “ $125 “ $150
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The place is small and they have on restroom facilities on the premises which is why they are closed at random hours as the girls have to walk down to the public bathrooms. This along with their lunch breaks and errands makes for a very unprofessionally run biz. They have six beds: one orbit, one stand up and four regular 20 min beds that do nothing for me. Actually only the orbit is decent though they advertise the stand up one as the strongest but since the max time is only ten minutes it really doesn't do much for you if you have some color already. The lease space in that open mall is $2.30/sqft. Don't know if that's good or bad for the area which is prime.
If I owned a place I wouldn't mind extended hours if I work it myself because once you get going everything is a fixed cost. The lease space and equipment and everything else is already paid for so it doesn't cost anything extra to keep the doors open. BTW, this is what they charge -- note the expiration dates. This is unheard of when I was in Torrance/Redondo Beach.
Hours: Mon-Sat: 10am-9pm, Sun: 10am-5pm
1month unlimited: 20min bed: $80.00, 15min bed: $100.00, 10min stand up bed: $120.00
5 tans expires in 15 days: 20min: $40 15min: $45 10min: $50
10 tans expires in 30 days: “ $70 “ $75 “ $80
15 tans expires in 30 days: “ $90 “ $95 “ $100
20 tans expires in 45 days “ $110 “ $125 “ $150
That place has no restroom. Does it have a sink for washing. If it does someone needs to go in there and put in a toilet. It has a drain. And how can they charge $2.30 a foot. Is that with C.A.M. too. I would defnitely renegotiate a new lease and get the restroom put in if I was to take that location. And how many of the current customers are actually gym members from next door. If the numbers are not that high then maybe relocating or opening somewhere else is better. That location is in the back with no major street footage. you need to be out near the highway so people can see you and you take advantage of the traffic on the highway. Those prices are defintiely high so you have some room to play. Like I said you want more people to come in and use the beds so they purchase the products you are selling.
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Sure...money and a plan. By the way, what did you do with $500.00 to become successful?
I'm saying it is a huge advantage. I'm also saying that those that don't fall into the outline I described above are the exceptions, not the rules. When my friends ask me about my website and web design business I explain to them that 95% of similar businesses fail within the first year.
Obviously it's an advantage lol. You're an idiot, of all the business owners in the city not one started with 1 million.
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That place has no restroom. Does it have a sink for washing. If it does someone needs to go in there and put in a toilet. It has a drain. And how can they charge $2.30 a foot. Is that with C.A.M. too. I would defnitely renegotiate a new lease and get the restroom put in if I was to take that location. And how many of the current customers are actually gym members from next door. If the numbers are not that high then maybe relocating or opening somewhere else is better. That location is in the back with no major street footage. you need to be out near the highway so people can see you and you take advantage of the traffic on the highway. Those prices are defintiely high so you have some room to play. Like I said you want more people to come in and use the beds so they purchase the products you are selling.
Well, I wouldn't want that place just one in the same mall as there's space available. So I'd want to start new and put that dump out of business. Also, there is no sink for washing. I don't know how many members go to the gym but since it's right next door I imagine a good percentage go there. The space that I saw open is in the same walkway that starts at L&L's (if you're familiar with the lay out) you can see McDonald's from the empty lease space. Also, I'm sure I could double the membership just by staying open during the posted hours, extending the hours, dropping all expirations dates on sessions paid for, and cutting $10.00 on everything across the board. Oh, and having decent up to date beds that work.
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I didn't bother reading any of the replies after the first couple of responses, too much reading on a message board.
I started working from home for myself back in Feb last year. All of my work so far has been word of mouth. Ideally find something you're good at, enjoy and something everyone needs and its unique. Easier said than done perhaps. If you're doing something you hate you're bound to fail.
I didnt have a written business plan I just went for it so far things are going really well although its a good suggestion.
Why work for some other prick that reaks the benefits and pays you fuck all, good security perhaps but no guts no glory. It's great not having a boss but you still have customers you have to answer to if things go to shit and its your rep that gets hit hard.
My advice is get a good/creative accountant and make sure customers pay on time or up front.
Good luck!
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Well, I wouldn't want that place just one in the same mall as there's space available. So I'd want to start new and put that dump out of business. Also, there is no sink for washing. I don't know how many members go to the gym but since it's right next door I imagine a good percentage go there. The space that I saw open is in the same walkway that starts at L&L's (if you're familiar with the lay out) you can see McDonald's from the empty lease space. Also, I'm sure I could double the membership just by staying open during the posted hours, extending the hours, dropping all expirations dates on sessions paid for, and cutting $10.00 on everything across the board. Oh, and having decent up to date beds that work.
Few Things;
Come up with a catchy name
What is the square footage
Is there plumbing and a restroom or at least able to put one in without any ground work
What kind of TI money is the landlord willing to put up
Who is the landlord (wondering in case i may know someone)
How is the electrical (those beds are going to take some power, is there enough there)
How is the roof
Make sure no leaks
How is the A/C (if it needs a new one the landlord must pay for it)
What is the rent and C.A.M. (N.N.N.?)
Can you see your entrance from the street
What is the frontage width (will determine how big a sign you can have)
What are the current utility comps for the surroundings spaces
FF&E costs
Permits, drawings and design costs
Put together a short and sweet Executive Summary of your business for the landlord so they get an idea of what you have planned. Also, if this space is in the same shopping center will the landlord permit you opening. Sometimes (I know I do it all the time) I make sure in my lease I have no new business's allowed to open in the same center that could be a conflict with my business. If I have a Juice Bar then no business can open that sells smoothies, protein shakes or other items I sell. No supplement shops are allowed either in the center since I will be selling supps from my pro shop. You have to do this to protect yourself So it would be interesting to see if the other place did that.
These are just some of the things you need to find out. And of course how much is the beds going to cost to lease and what kind of up front cost are there and the shipping costs to Hawaii which can kick your ass too.
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Few Things;
Come up with a catchy name
What is the square footage
Is there plumbing and a restroom or at least able to put one in without any ground work
What kind of TI money is the landlord willing to put up
Who is the landlord (wondering in case i may know someone)
How is the electrical (those beds are going to take some power, is there enough there)
How is the roof
Make sure no leaks
How is the A/C (if it needs a new one the landlord must pay for it)
What is the rent and C.A.M. (N.N.N.?)
Can you see your entrance from the street
What is the frontage width (will determine how big a sign you can have)
What are the current utility comps for the surroundings spaces
FF&E costs
Permits, drawings and design costs
Put together a short and sweet Executive Summary of your business for the landlord so they get an idea of what you have planned. Also, if this space is in the same shopping center will the landlord permit you opening. Sometimes (I know I do it all the time) I make sure in my lease I have no new business's allowed to open in the same center that could be a conflict with my business. If I have a Juice Bar then no business can open that sells smoothies, protein shakes or other items I sell. No supplement shops are allowed either in the center since I will be selling supps from my pro shop. You have to do this to protect yourself So it would be interesting to see if the other place did that.
These are just some of the things you need to find out. And of course how much is the beds going to cost to lease and what kind of up front cost are there and the shipping costs to Hawaii which can kick your ass too.
Wow! It's amazing anybody gets anything off the ground. I never thought things can get so complicated. I wonder how those Koreans come here barely speaking English can get their liquor stores, restaurants, Laundromats and what have you. What the heck is CAM? NNN? FF&E? TI money? And all this permits, drawing, designed cost. I figure all I had to do was buy a room with some electrical outlets, plug in some beds and I'm good to go? LOL! I've got to get a hold of my friend back in Redondo Beach who opened up a couple of salons and did pretty good. And he never struck me as being that bright or resourceful. His brother, who partnered with him, was a complete idiot and was given the boot. Anyway, at least I have a catchy name: "The One and OnlyMe!"
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Wow! It's amazing anybody gets anything off the ground. I never thought things can get so complicated. I wonder how those Koreans come here barely speaking English can get their liquor stores, restaurants, Laundromats and what have you. What the heck is CAM? NNN? FF&E? TI money? And all this permits, drawing, designed cost. I figure all I had to do was buy a room with some electrical outlets, plug in some beds and I'm good to go? LOL! I've got to get a hold of my friend back in Redondo Beach who opened up a couple of salons and did pretty good. And he never struck me as being that bright or resourceful. His brother, who partnered with him, was a complete idiot and was given the boot. Anyway, at least I have a catchy name: "The One and OnlyMe!"
Well believe me if you intend to make money and not just get by and always be playing catch up then you have to think about this stuff. Goodrum is trying to open his business without putting in the due diligence. If you plan to just have a business where you are working everyday to make ends meet then you don't really need to do much research. Just open and try to start making money. but if you want to have a business that will survive through low times or when a competitor opens down the street from you or when the electricity is turned off then you need to make sure you have all your bases covered. What is amazing is how much everything adds up to when you have it in a spreadsheet. Everything adds up really quick. you have to make sure when you open the landlord gives you some free rent time too. Don't pay rent during construction. You may have to pay C.A.M which is the Common Area Maintence. Every landlord has this. But get some free rent or at least reduced rent for the first few months of business at least. Ask for 6 months. All they will do is add it onto the back end of the lease or lets say your lease is 5 years, they will make it for 5 years and 6 months to make up for the free rent. Also do an escalated rent schedule for at least the first year. Yes there are a lot of thing to think about but then again you don't have to if it is your own money (no loans or investors) you can just go in and do what you want and see where the ball lands.
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Well believe me if you intend to make money and not just get by and always be playing catch up then you have to think about this stuff. Goodrum is trying to open his business without putting in the due diligence. If you plan to just have a business where you are working everyday to make ends meet then you don't really need to do much research. Just open and try to start making money. but if you want to have a business that will survive through low times or when a competitor opens down the street from you or when the electricity is turned off then you need to make sure you have all your bases covered. What is amazing is how much everything adds up to when you have it in a spreadsheet. Everything adds up really quick. you have to make sure when you open the landlord gives you some free rent time too. Don't pay rent during construction. You may have to pay C.A.M which is the Common Area Maintence. Every landlord has this. But get some free rent or at least reduced rent for the first few months of business at least. Ask for 6 months. All they will do is add it onto the back end of the lease or lets say your lease is 5 years, they will make it for 5 years and 6 months to make up for the free rent. Also do an escalated rent schedule for at least the first year. Yes there are a lot of thing to think about but then again you don't have to if it is your own money (no loans or investors) you can just go in and do what you want and see where the ball lands.
I know real estate is shit now but why rent property when you can have everything built for about the same amount and then have something to liquidate if you start going down.
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make sure your business is a llc and not a corporation (taxes will kill ya for corporation)...I would assume Hawaii has a secretary of state website. Reserve your business name when you have decided to move forward.
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I know real estate is shit now but why rent property when you can have everything built for about the same amount and then have something to liquidate if you start going down.
In Hawaii most of the land is owned by a trust like Bishop Estates or Campbell and others. Owning a commercial building is almost impossible and you still don't own it since you have to pay the land lease. It is called leasehold. To have a fee simple commercial property is rare. Renting is something you have to do. No reason to spend money building a building that in reality is worth nothing once the lease is up. I had that problem in Kona for a gym I was looking to buy but the land lease was up in just 11 years and the land owner had no intention of renewing the lease cause he was going to tear down the building and put up condos.