Question for the martial arts gym owners..

Ush1

Myself and my cousin who is a kickboxing coach are thinking of starting a business in the new year(sorta).

Basically my cousin currently sublets a premises and so it is shared with a boxing coach. He wants to be able to hold more classes and so has outgrown this arrangement and looking to get his own premises. He has a good client base already but has never registered it as a business proper.

I've a meeting scheduled with the local enterprise office to speak with a mentor regarding possible grants that would be available and setup advice etc..

Any advice from existing gym owners out there?

Main costs I can see is the lease on the premises, then insurance, rates and electricity and heating. He has all of the equipment needed already and we have a local building sponsor who I think can help with any work needing to be done to the premises and buidling a ring.

All advice appreciated.:)

yomchi

Ush1 wrote: »

Myself and my cousin who is a kickboxing coach are thinking of starting a business in the new year(sorta).

Basically my cousin currently sublets a premises and so it is shared with a boxing coach. He wants to be able to hold more classes and so has outgrown this arrangement and looking to get his own premises. He has a good client base already but has never registered it as a business proper.

I've a meeting scheduled with the local enterprise office to speak with a mentor regarding possible grants that would be available and setup advice etc..

Any advice from existing gym owners out there?

Main costs I can see is the lease on the premises, then insurance, rates and electricity and heating. He has all of the equipment needed already and we have a local building sponsor who I think can help with any work needing to be done to the premises and buidling a ring.

All advice appreciated.:)

Hi mate,
Best of luck with the new venture. I've been full time for nearly ten years now. The most important aspect of a new gym is location. I know it's a cliche but it's so true. Location and having it accessible to people is key.

If you can, stay away from large industrial type buildings as in the winter they are impossible to heat and you will see your membership dwindle due to the cold. Specially if you have classes for children.

Thoroughly check the building out and ask about leaks. Leaks are a nuisance. If you can find a building with central heating you are off to a good start. I compromised a bit of space for a place with heating and it was the best move I made. Classes are large all the way through the cold months.

In relation to over heads, you have it right, except expect a commercial water bill too. I think they are twice yearly or quarterly. Rates are a pain, basically it's the council taking money from you for no reason at all.

Do try find a landlord that is good to deal with. They are few and far between but if you find a good one your life there will be so much easier.

You might need to consider VAT and other tax implications down the line. If you need a good accountant I can recommend one for you.

Lastly, internet banking is gold. Get your members to pay directly into your account, makes life so much easier.

Best of luck

Ush1

Thanks a mill for that, some great food for thought.:)

Ush1

Sent you a pm there yomchi.