Starting a Fitness Center

[Scho]

I am a senior in high school, and a friend and I would like to open a gym after I graduate from college. Obviously we need the money, but how much experience is necessary? I am planning on taking business in college in addition to either sports/exercise science or psychology.

Would taking business and sports/exercise science give me a step ahead on my career path? It seems that fitness clubs are usually run through families. Does this mean that my goal is hardly attainable, or do I have a chance?

[cognitivechaos]

Nepotism is the least of your worries. I'm 16 years old and in high school, too, so I share the commonality of business aspirations. But, have you done some market research? What is the market like? Is there room for a "sports club," as people to prefer to call it these days? Also, to what demographic are you trying to appeal? Higher-end clients who might want the best of facilities, a massage parlor, and tanning booths (oh, and you can't forget juice bars!), etc., or just the "average" Joe who wants to work out? You need to have a certain niche. Starting a gym called "John's Gym" with no market in mind isn't going to work.

Good luck with your plan!

[qbblitz14]

I myself have just graduated highschool and am on my path to becoming an entrepreneur. It is a great start that you have found something you enjoy and that you may want to start a business in. I agree with everything in cognitivechaos's reply about doing your market research.
Good luck to you.
Steve

[firebringer]

Here is what I wish someone had told me when I was graduating HS and starting down the entrepreneur path:

1. Don't rush. There is always a another deal. Deals that come with the "buy now or lose the opportuniy of a lifetime" tag are generally good for the seller, not the buyer.

2. Business is people - not numbers. Get a broad education that focuses on human behavior. Business degrees prepare you for corporate business jobs - not entrepreneurship. Understanding people - why they do what they do and when they are likely to do it is much more important.

3. All businesses are good if you work them. No business is good if you don't. If you have chosen a sound, proven business you can succeed.

4. Never worry about competition. Most small businesses are poorly run and have a very rudimentary idea of what should pass for customer service. Start. Be the best. Remember its people - your customers - that matter and you'll hold your own against anyone.

5. NEVER compete on price. Competing on price is the choice of newbie's and amatuers. It looks easy to the inexperienced, but it is the most brutal and least profitable playing field. Compete on service and quality.

6. Never listen to someone who isn't at least as smart as you are - and age does not equal savvy, or skill. It just equals age. Listen to people who can show you the results that living the advice they give worked for them.
Read, read, read the books wriiten by, or about sucessful people.

7. Cooperate. Network. Be the guy even your competitors go to for anwers and assistance. Nice guys finish first. The nice guy who finishes last isn't really nice, he/she is indecisive and/or too worried about what family, friends and the world think to do what needs to be done.

8. Never hesitate for fear of making a mistake Do something - even if its wrong. If you do something you get feedback. Feedback allows you to correct your course, to make adjustments to the earlier decision. Doing nothing but worrying and analyzing denies you valuable feedback you need to fine tune your business. Mistakes are your best friends. Err often and err gloriously.

9. Be clear and specific about what you are building and where you are going. 90% of the business failures I know failed because they never knew exactly what business they were in, who their target customer was, or exactly what their product was. Know who you are. Know what you are selling and why your cutomers want it.

10. Don't spend money on office furniture, office space, big cars - because you think thats what successful entrepreneurs have. Buy what you need. Never buy less than you need, but don't try to show your success with symbols. Let your bank balance be your badge. Money is easier to make than it is to keep. Learn how to keep it early.

11. Have fun. If you aren't having fun you might as well get a job.

12. Surround yourself with the people you want to be like. Being young is a wonderful ticket to mentorship. We tend to slowly become like the people we spend our time with. You can't soar with the eagles if you run with turkeys.

All the Best,

Jess Huffman

[Bizwiz1011]

I would say networking and research are your two biggest friends. Ask any successful business person and they said they surrounded themselves around like minded people and networked.

[SimplySidy]

With the awareness of good health more and more people are willing to take take out and make it to the Gym or spas. I personally do feel that this is a prospective option as a career. Setting up a Gym is not the only option out once you graduate with sports/exercise science. There are so many openings today - you can join anywhere as a fitness trainer and build your reputation before delving/setting up your own Gym. You can also become a Personal Fitness Trainer once you have completed your course.

[janineaa]

It would be good to take up a business course and something on health and fitness so you have an idea on how you will be able to manage both sides. You definitely have a chance, as long as you work hard to achieve your goals, you will surely reach it! With a fitness center, I think you should be specific as to what kind of market you are targeting. Is it going to be a gym with the usual equipment? Will you focus on circuit training? Will it be more on boxing/muay thai/MMA? Before you start, you should know what your location is lacking so you will be able to serve future clients well. Once you have your main focus, it will be simpler from there.

[taxcpa]

I have a few clients who own fitness centers. One client has 8 locations. They are large and well equipped. Each cost about $600,000 to build out and buy the equipment. Also, the equipment needs to be replaced more often than you would think due to use and the need to always look updated ..... about $50,000 per year in updates and repairs.

[elisagrace]

Hi you must have heard the saying " Where there is a will, there is a way". It is your good decision, but before starting any business you must have knowledge on the subject. Initially you can start start with small scale and when you feel that you are getting good results, you can expand your business. Regarding money, if you visit onsite, you will find merchant cash companies who provides advance for such purpose only. You have to fill one form and you will get advance with in two days.

[Flintrock]

Well said Jess.

Here is what I wish someone had told me when I was graduating HS and starting down the entrepreneur path:

1. Don't rush. There is always a another deal. Deals that come with the "buy now or lose the opportuniy of a lifetime" tag are generally good for the seller, not the buyer.

2. Business is people - not numbers. Get a broad education that focuses on human behavior. Business degrees prepare you for corporate business jobs - not entrepreneurship. Understanding people - why they do what they do and when they are likely to do it is much more important.

3. All businesses are good if you work them. No business is good if you don't. If you have chosen a sound, proven business you can succeed.

4. Never worry about competition. Most small businesses are poorly run and have a very rudimentary idea of what should pass for customer service. Start. Be the best. Remember its people - your customers - that matter and you'll hold your own against anyone.

5. NEVER compete on price. Competing on price is the choice of newbie's and amatuers. It looks easy to the inexperienced, but it is the most brutal and least profitable playing field. Compete on service and quality.

6. Never listen to someone who isn't at least as smart as you are - and age does not equal savvy, or skill. It just equals age. Listen to people who can show you the results that living the advice they give worked for them.
Read, read, read the books wriiten by, or about sucessful people.

7. Cooperate. Network. Be the guy even your competitors go to for anwers and assistance. Nice guys finish first. The nice guy who finishes last isn't really nice, he/she is indecisive and/or too worried about what family, friends and the world think to do what needs to be done.

8. Never hesitate for fear of making a mistake Do something - even if its wrong. If you do something you get feedback. Feedback allows you to correct your course, to make adjustments to the earlier decision. Doing nothing but worrying and analyzing denies you valuable feedback you need to fine tune your business. Mistakes are your best friends. Err often and err gloriously.

9. Be clear and specific about what you are building and where you are going. 90% of the business failures I know failed because they never knew exactly what business they were in, who their target customer was, or exactly what their product was. Know who you are. Know what you are selling and why your cutomers want it.

10. Don't spend money on office furniture, office space, big cars - because you think thats what successful entrepreneurs have. Buy what you need. Never buy less than you need, but don't try to show your success with symbols. Let your bank balance be your badge. Money is easier to make than it is to keep. Learn how to keep it early.

11. Have fun. If you aren't having fun you might as well get a job.

12. Surround yourself with the people you want to be like. Being young is a wonderful ticket to mentorship. We tend to slowly become like the people we spend our time with. You can't soar with the eagles if you run with turkeys.

All the Best,

Jess Huffman