In today’s time, starting a fitness centre can prove to be a successful business venture. That’s because most people look to gyms and professional trainers to maintain their overall health and bodies. However, while the idea may seem fruitful given the present market need, it takes a lot more commitment, effort and ground work to make sure your gym is profitable.
The following points may help:
- Charge Lower Fees Initially
When you just open a gym, you need to build a name for yourself first. In today’s highly price sensitive market, your potential customers will look for state-of-the-art gyms that charge low fees.
Whatever may be the initial capital you spend on building the gym, you have to create a business plan that helps you break even over the next couple of years, not months.
In this sense, remember to start slow, build a name for yourself, attract customers with attractive discounts and use your knowledge, provide quality service and woo them with great, modern gym equipment.
Build a good customer base by charging low rates for the first year. Once your customers are comfortable at your gym, they may not mind paying higher fees in their second year there.
Once you have a healthy clientele start thinking of making profits.
Value added services
Most of your potential customers will probably already be gym members elsewhere. In order to make them join your fitness centre, you have to provide value. Try to differentiate your service offering.
Every good gym has a good range of exercise equipment, lockers and personal trainers to help members exercise daily. Do something different, like perhaps hiring a dietician so customers can consult them, when they want to lose weight.
If you have the capital for it, you can probably go all out and open a small yoga or meditation room too. These are just ideas, but as a prospective gym owner you must add value yourself by considering your own capital expenses, budget, business goals etc.
Think of your target market, what will impress them and how you can make them join your gym and stay for the long haul.