Welcome to our newest gym owner business profile. Offered up once a month, these profiles are created to share ideas and challenges between gym owners. Each privately owned gym fuels from a unique set of circumstances. Hopefully, you will find inspiration in their experiences. Gym owner profile: MorGainz Fitness, Pennsylvania It started as a retirement plan. After careers in nursing and police work, Kelly and David Morgan were ready to switch tracks. Always total gym people, they dusted off a business plan written for a college nursing course, and decided to fix a problem. Their small Richland, PA, community did [...]
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Opening a new gym can be really stressful. You’ve put a ton of money into this new business and now it’s time to switch on the lights and hope members sign up fast enough to cover mounting bills. But it does not have to be that way. Established gyms know the best way to promote a new location is Pre-sales. This simple idea takes the pressure off opening day and provides much-needed cash for final construction snafus. What are gym membership pre-sales? These are sold prior to your fitness center’s opening. Marketed through social media or an advertising campaign, this [...]
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Should you buy or lease commercial gym equipment? Should I buy or lease gym equipment for my business? The decision to buy or lease commercial gym equipment depends on the amount of capital you have and your tax situation. There are pros and cons to both approaches. Leasing allows you to change out fitness equipment every few years while incurring lower maintenance costs, and payments are generally deductible as a business expense. It is also easier to obtain leases than equipment loans. They may, however, cost your health club more money in the long-term. New gym equipment loans though, now [...]
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There are many advantages to buying used fitness equipment. Used or previously owned commercial fitness equipment can be purchased for less than one-third the cost of new gym equipment. Since most gym equipment is made up of easily replaceable parts and rarely breaks, there is little risk for owners. Most importantly, new health clubs can pay off used equipment faster, making it easier for their businesses to quickly reach profitability. Every gym member uses some type of exercise equipment Previous posts, like “To Buy or To Lease Gym Equipment? That is the question…” and “Top Ten Ways to Save Money When Opening a [...]
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If you are planning on opening a health club, gym, or fitness studio, location is going to be vital for your new business. This is because people primarily choose health clubs that are nearest to their homes or those locations that are the most convenient and accommodates their daily routines. Additionally, you will need to consider whether you will be buying or renting the commercial space. If you are opening a health club for the first time, here are some factors to consider on choosing a place that will set up your fitness business for success. Which Part of the [...]
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