opening a gold gym,Possible?

[motoxman]

Damn tired of doing a job that isnt inspiring.Want to have my own gym.Nayone out there done it.Any advice.Just starting to research the buisness.I have a strong back ground in management,tired of making other people rich.Love Body building and training bout time I do a job I enjoy.
motoxman

 

[eleven11]

Almost did a Powerhouse gym myself about 14 years ago. Having a mang. back ground will help on the business side of things. One thing a friend of mine told me was make sure you have aerobics and child care for the ladies if you want to survive in this business and I believe him......11

 

[vegas]

Hey Motoxman, From personal experience previously owning a subway franchise I will say that as with any investment there will be associated risks. The pro's for a franchise such as golds etc. are that you will have at your disposal guidance from a proven leader in their field. This will include location scouting, lease and equipment puchase negotiation and a proven plan to get you up and running. However the downside to this is the franchise fee and monthly percentage fees. Most large franchises require you to be liquid from 250k up to 1 million especially if there is new constrution involved. I think if you want it bad enough you should learn everything about start up yourself. Your location and lease negotiation as well as your ability to finance your equipment will be your major hurdles once you decide to take the plunge. Get advice from a good commercial real estate attorney once you find a location. Most states as you are probably aware have SBA's that employ retired persons with vast knowledge who can offer guidance when you ned it. Hope this helps.....Good luck.....Vegas

 

[motoxman]

Hey Motoxman, From personal experience previously owning a subway franchise I will say that as with any investment there will be associated risks. The pro's for a franchise such as golds etc. are that you will have at your disposal guidance from a proven leader in their field. This will include location scouting, lease and equipment puchase negotiation and a proven plan to get you up and running. However the downside to this is the franchise fee and monthly percentage fees. Most large franchises require you to be liquid from 250k up to 1 million especially if there is new constrution involved. I think if you want it bad enough you should learn everything about start up yourself. Your location and lease negotiation as well as your ability to finance your equipment will be your major hurdles once you decide to take the plunge. Get advice from a good commercial real estate attorney once you find a location. Most states as you are probably aware have SBA's that employ retired persons with vast knowledge who can offer guidance when you ned it. Hope this helps.....Good luck.....Vegas

Thanks bro good advice........

 

[Grizzly]

I wouldn't expect to get rich owning a gym. The overhead is riddiculous. The people who own the Gold's I used to go to have nice bikes, but their cars and clothes look like shit. Maybe back in the '80s when the fitness craze first took off and there weren't that many facilities, you could make a good buck, but there's 10 gyms in any town over 40k people. The competition is way too stiff.