Getbig Bodybuilding, Figure and Fitness Forums
November 27, 2014, 12:10:53 AM *
Welcome, Guest. Please login or register.

Login with username, password and session length
 
   Home   Help Login Register  
Pages: [1]   Go Down
  Print  
Author Topic: insurance on a fitness facility  (Read 4712 times)
MB_722
Getbig V
*****
Posts: 11129


RIP Keith


« on: January 30, 2013, 12:47:22 AM »

of course I'm going to hear the dreaded don't even touch it. ...

curious on whats it like getting insurance for a fitness facility/gym location.

what do you need. what are the premiums etc?

waiver process?
Report to moderator   Logged
tonymctones
Getbig V
*****
Gender: Male
Posts: 25427



« Reply #1 on: February 10, 2013, 04:14:19 PM »

Im not sure but Id be willing to guess its pretty pricey. I would imagine though that the amount of money that you could potentially bring in if personal training had enough business could outweigh it substantially.

You should PM coach I believe he runs a facility so he might know.
Report to moderator   Logged
MB_722
Getbig V
*****
Posts: 11129


RIP Keith


« Reply #2 on: May 29, 2013, 09:12:22 PM »

wheres Coach?
Report to moderator   Logged
ESFitness
Getbig V
*****
Posts: 4174


« Reply #3 on: July 29, 2013, 01:59:35 AM »

I believe we pay $800/month for umbrella that covers trainers so long as they're employees of the gym... no independent contractors/1099 trainers working FOR the gym. Independent trainers who pay trainer rent need their own insurance of at least $1 million.

Insurance also depends on the gym owners net worth. Gym owner who's net worth was 22million paid 950/month vs. gym owner who's net worth is almost 3x that pays 800 vs gym owner who's net worth is about $200k (the equity in his home, pretty much) pays $1200.
Report to moderator   Logged
ESFitness
Getbig V
*****
Posts: 4174


« Reply #4 on: July 30, 2013, 12:20:03 AM »

You know guys w/ net worths of $22 million and $66 million who are in the gym business?  

yes.

got in later in life. both as 'favors'.

one makes 99% of his income out of the gym (avocado orchards, property/real estate/developing) but spends 99% of his time in the gym trying to make money (he didn't).

the other is just a money man. Made the majority of his money in lettuce and horses. spends maybe 30mins in the gym each day and has no interest in day-to-day operations. actually a little less than 66 mil, but over 50.
Report to moderator   Logged
Pages: [1]   Go Up
  Print  
 
Jump to:  

Theme created by Egad Community. Powered by MySQL Powered by PHP Powered by SMF 1.1.20 | SMF © 2013, Simple Machines Valid XHTML 1.0! Valid CSS!