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Invest In Small Amounts
If you have decided to open a gym, make a business plan in stages. Invest small amounts at a time, because it is easier to break even and make profits on the initial investment if you invest small.
Once you make a profit on one investment expand the business gradually over stages. This will reduce the chance of losses. For instance, if you have hired or bought a property that is about 1000 sq feet in size for your gym, do up half of it initially.
See how many customers join within the first six months, weigh your account statements and potential profits before deciding to do up the rest of the gym.
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Keep Your Customers for Good
Every member likes to feel welcome. If your customers like where they work out, chances are they will never want to leave. One way you can achieve this is by personalizing the gym. Make customers feel at home by giving them their own name printed towels, their own gym bags, maybe even a personalized letter every month, with tips on staying fit etc.
If you aim to follow measures that help keep your customers, your gym will always be a profitable venture. The minute you start losing members, your business will be affected. The goal should be to keep the customers happy and welcome.
Read all the features of this series here:
Start Your Own Fitness Centre: Part 1, Fitness Centre, An Apt Endeavour for Women
Start Your Own Fitness Centre: Part 2, Mission and Objectives
Start Your Own Fitness Centre: Part 4, the Dos and Don’ts
Start Your Own Fitness Centre: Part 5, Final Thoughts
