Gym start up

board.eddy

I am considering opening up a gym. At first i wanted it to be just a proper ole muscle gym but to get enough customers to turn a profit it seems i need cardio machines ie. treadmils, bikes etc also.
I have a few q's...
1/ how much would insurance cost me ?
2/ how much capital will i need to start ?
3/ operating costs.. what am i looking at ?

EamonOSullivan

Do you have any experience in running a gym, or working in one? If you have either then you may have accounts for a gym, and can draw up a budget for your first few years of operation.

If you haven't access to historical information on gym accounts, then can you get a copy of recent accounts from another gym? I think this is really important as without that information you cannot tell what level of membership etc you need to break even and / or make a profit.

If you do have this information, then you can model your financial accounts using a spreadsheet to see how you do before even setting up.

killerboy

Yeah, I think it would be nice if you have some experience running that type of business or you know somebody who's done something like this, so that you can compare notes or whatever and see about the finances.

ezspeeder

You could also try posting your questions on some of the bodybuilding/fitness forums - likely to get help from other gym owners there.

board.eddy

thanks for the advice guys. i know someone who runs a gym so its time to approach him !