Author Topic: Who owns or runs a gym? (Read 14928 times)

Slik · « **Reply #25 on:** March 31, 2014, 02:57:14 PM »

Quote from: Tedim on March 31, 2014, 02:21:31 PM

I build and sell businesses, 70-80% are coin laundries. My interest is filling my real property, selling off the businesses and retaining rent and the financing, nothing more.

What I am interested in is setting up a cookie cutter gym so I am looking for mainstream gym info....

yes I got that from your posts. I don't do the cookie cutter stuff. I guess u could make it work. Planet fatness sure has. I don't know that business model. So I can't really help but anything can be done I suppose. Oh. N I'm not being a smartass. Anything that gets America off the couch is a good thing!

dyslexic · « **Reply #26 on:** March 31, 2014, 03:50:29 PM »

Quote from: the trainer on March 31, 2014, 01:10:06 PM

Rules for a successful gym

all personal trainers must be very skinny
no tight fitting clothes on men and women
have a fast food bar selling fries pizza etc.
no free weights only machines
no dumbbells over 50 pounds
music should be soft and relaxing not very loud.

A none intimidating name e.g. relax fitness.

Don't forget the "Lunk Alarm" ~ very important. Most people learned about these in their Physiology classes ~

38-26-40 · « **Reply #27 on:** March 31, 2014, 04:33:56 PM »

Think of what your ideal gym would be like...I'm sure you would want ALL the equipment you desire. Initial investment would mostly be the equipment. Keep a low staff and be willing to work yourself 7 days a week. A good addition would be to have some tanning beds in there as well. Location is key! However, if you are planning on building to sell...don't. The buyers market for gyms is very very low. Everyone has a different concept of what a gym should be. With so many different varieties including cross fit, Pilates studios, boot camps, class studios, etc. versus big corporations like 24 hour fitness (where I work), la fit, etc having all that in one location and access to all clubs, more people are likely to join those. Unless, you open location where there are none around. It's not a business to build just to sell. But it can be a great one to build and keep. The coin laundry is perfect. You hardly have to be there

and you can sell anytime to a large market. I'm always looking for a coin laundry to buy...but not a gym! I'd open my own gym, but would never buy one. Unless I know it's a gold mine with a huge member base already. Think about it.

wolfrittner · « **Reply #28 on:** March 31, 2014, 04:38:04 PM »

Quote from: Mr Nobody on March 31, 2014, 12:11:37 PM

Vladimir Putin.

Hahahaha!!

Tony Doherty · « **Reply #29 on:** March 31, 2014, 04:47:09 PM »

Quote from: Tedim on March 31, 2014, 02:21:31 PM

I build and sell businesses, 70-80% are coin laundries. My interest is filling my real property, selling off the businesses and retaining rent and the financing, nothing more.

What I am interested in is setting up a cookie cutter gym so I am looking for mainstream gym info....

I would love to help but what you are trying to do is so far from my world that I cannot relate to it. We are definitely not mainstream and do what we do because we love it, what we have cant be bought and sold.

Having said that, you need to talk to mainstream people and see what they want, see if there are prospective buyers in that market, or you may be stuck with it. I'm not sure why anyone would buy it without years of goodwill, as they could set up a "new" business just like yours without paying you the profit you are looking for.

I wish you well but think this has been done to death and there are not that many cashed up, gullible people out there buying mainstream gyms.

Tedim · « **Reply #30 on:** March 31, 2014, 05:30:18 PM »

Let's get away from the for sale side....it's too complicated for me to explain, in short I function like a small hedge fund so sale is not an issue.

I need feedback on services, layout, equipment and daily function...this is info I'm looking for, thank you all for the other info.

Tedim · « **Reply #31 on:** March 31, 2014, 05:33:37 PM »

Quote from: 38-26-40 on March 31, 2014, 04:33:56 PM

Think of what your ideal gym would be like...I'm sure you would want ALL the equipment you desire. Initial investment would mostly be the equipment. Keep a low staff and be willing to work yourself 7 days a week. A good addition would be to have some tanning beds in there as well. Location is key! However, if you are planning on building to sell...don't. The buyers market for gyms is very very low. Everyone has a different concept of what a gym should be. With so many different varieties including cross fit, Pilates studios, boot camps, class studios, etc. versus big corporations like 24 hour fitness (where I work), la fit, etc having all that in one location and access to all clubs, more people are likely to join those. Unless, you open location where there are none around. It's not a business to build just to sell. But it can be a great one to build and keep. The coin laundry is perfect. You hardly have to be there and you can sell anytime to a large market. I'm always looking for a coin laundry to buy...but not a gym! I'd open my own gym, but would never buy one. Unless I know it's a gold mine with a huge member base already. Think about it.

Tanning beds good idea....stand up ones.

jwb · « **Reply #32 on:** March 31, 2014, 05:39:08 PM »

Fit it all with equipment from global fitness, make it turn key and just keep it in the family.

Whoever buys it off you will go broke trying to make their loan and rent payments.

Tedim · « **Reply #33 on:** March 31, 2014, 05:44:08 PM »

Quote from: jwb on March 31, 2014, 05:39:08 PM

Fit it all with equipment from global fitness, make it turn key and just keep it in the family.

Whoever buys it off you will go broke trying to make their loan and rent payments.

Then I repo and sell it again.....rinse repeat

King Shizzo · « **Reply #34 on:** March 31, 2014, 05:46:05 PM »

Strippers. Everything works out when strippers are involved.

jwb · « **Reply #35 on:** March 31, 2014, 05:47:56 PM »

Quote from: Tedim on March 31, 2014, 05:44:08 PM

Then I repo and sell it again.....rinse repeat

Good luck getting the locals to join a gym that keeps going broke and stealing their money.

Tedim · « **Reply #36 on:** March 31, 2014, 05:49:09 PM »

Quote from: jwb on March 31, 2014, 05:47:56 PM

Good luck getting the locals to join a gym that keeps going broke and stealing their money.

Good point....but 1 year free memberships should fix that

Plus I'm the note holder so there is no issue on shutdown...just assumption no lag time

Tedim · « **Reply #37 on:** March 31, 2014, 05:52:59 PM »

Again what "services" are a must for mainstream?

King Shizzo · « **Reply #38 on:** March 31, 2014, 05:55:29 PM »

Quote from: Tedim on March 31, 2014, 05:52:59 PM

Again what "services" are a must for mainstream?

Purple and pizza.

Tedim · « **Reply #39 on:** March 31, 2014, 05:55:55 PM »

Equipment

Bench 3 flat, 2 incline 1 decline

Squat racks 2

Smith 1

Preacher 1 standing 1 sitting

ProudVirgin69 · « **Reply #40 on:** March 31, 2014, 06:23:21 PM »

Quote from: Tedim on March 31, 2014, 05:55:55 PM

Equipment

Bench 3 flat, 2 incline 1 decline

Squat racks 2

Smith 1

Preacher 1 standing 1 sitting

Yes, two preacher curl stations are the key to a successful business

Tedim · « **Reply #41 on:** March 31, 2014, 06:32:59 PM »

It's tough paddling through getbig waters....

_aj_ · « **Reply #42 on:** March 31, 2014, 06:41:28 PM »

Have you looked into salvage operations? Every once in a while, I see a whole gym worth of shit on craigslist (NO FUCKING HOMO, YOU FUCKING HOMOS)

jude2 · « **Reply #43 on:** March 31, 2014, 06:43:18 PM »

Quote from: falco on March 31, 2014, 01:03:26 PM

If you want to own a gym there is a lot of work involved everyday and you cannot leave it to be ~~ruined~~ runned by employees.

My 2 cents.

I use to own a 12,500 square foot gym. The employees that I thought where my friends, robbed my blind. Stole over 100K in 3 yrs. I had to sell it. Good thing I was buying the building it was in, because it was the sale of the real estate that saved my ass and paid off the gyms debt. Good lesson learned. Don't trust people with your money.

Tedim · « **Reply #44 on:** March 31, 2014, 06:51:41 PM »

Quote from: _aj_ on March 31, 2014, 06:41:28 PM

Have you looked into salvage operations? Every once in a while, I see a whole gym worth of shit on craigslist (NO FUCKING HOMO, YOU FUCKING HOMOS)

I've looked but trash out shit around here....nothing that got me exited

Tedim · « **Reply #45 on:** March 31, 2014, 06:55:53 PM »

Quote from: jude2 on March 31, 2014, 06:43:18 PM

I use to own a 12,500 square foot gym. The employees that I thought where my friends, robbed my blind. Stole over 100K in 3 yrs. I had to sell it. Good thing I was buying the building it was in, because it was the sale of the real estate that saved my ass and paid off the gyms debt. Good lesson learned. Don't trust people with your money.

How did they steal your money? Product or not paying their share of trainer money?

polychronopolous · « **Reply #46 on:** March 31, 2014, 06:56:42 PM »

Maybe like a promotion where if they can press the Cyr Dumbbell they get 10% off the first month or something.

ProudVirgin69 · « **Reply #47 on:** March 31, 2014, 06:57:05 PM »

Quote from: Tedim on March 31, 2014, 06:32:59 PM

It's tough paddling through getbig waters....

Honestly what did you expect? The people here that have gyms do it for the love of it....coach, hazbin, Tony Doherty--all very involved and accomplished with weight lifting/bodybuilding. You on the other hand......well, not so much $:-\$

The fitness industry is not the easiest place to make a quick buck. Good luck all the same

Tedim · « **Reply #48 on:** March 31, 2014, 06:59:11 PM »

Quote from: polychronopolous on March 31, 2014, 06:56:42 PM

Maybe like a promotion where if they can press the Cyr Dumbbell they get 10% off the first month or something.

For members attendants at the laundry will move their clothes to the dryer and fold and wrap their clothes for free so their workout isn't disturbed.

Tedim · « **Reply #49 on:** March 31, 2014, 07:03:24 PM »

Quote from: ProudVirgin69 on March 31, 2014, 06:57:05 PM

Honestly what did you expect? The people here that have gyms do it for the love of it....coach, hazbin, Tony Doherty--all very involved and accomplished with weight lifting/bodybuilding. You on the other hand......well, not so much $:-\$

The fitness industry is not the easiest place to make a quick buck. Good luck all the same

It's about learning how to build a good product and being good at developing said product....nothing devious about it, and no such thing as a quick buck....at least I've never had that fortune.