This is a question all new gym owners ask themselves. In the last month, we’ve brought you expert answers to many questions about the actual leasing process – conversations to have before signing your gym lease, how to find property, and the details behind specific leases – Triple Net and Full Service Leases. Now it’s time to decide if it is in your best interest to rent a location or buy that real estate. To explore this topic, we turned to Kelly Morgan, owner of MorGainz Fitness, a four-location Pennsylvania enterprise. Morgan and her husband David leased their first and second gym locations, starting in 2012, [...]
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Starting a gym can be complicated. Instinctively, launching a health club seems simple: equipment + passion = success, right? True, but gyms also involve people, liability, capital investments, promotions, regulations, and expenses. Juggling all this is where success is achieved. The following blog is a short overview of four of the most significant responsibilities affecting your new company. Below the blog, we’ve included helpful links for research and assistance. Four tasks every gym owner faces: Insurance coverageCapital equipment purchasesMarketing expensesEmployee management 1. Required insurance coverage: General liability Commercial propertyProfessional liabilityWorkers’ Comp Although the cost of insurance varies widely based on the size [...]
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Buying used gym equipment for your business can seem like a cop-out. Why would you invest in second-hand gear for an industry seeped in an Instagram culture? Don’t looks matter here? Uh, no, actually. What matters is keeping your health club in the black so you can stay in business. Last month, Gym Insight’s sales representative interviewed Steven Harvalias, owner of Superfitness New & Used Gym Equipment, based in Burlington, North Carolina, about starting a successful fitness business. In this podcast, Steve and Anthony Pasquale discuss how keeping start-up costs low and customer service at top-of-mind, safeguards an emerging gym’s success. Originally [...]
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What could be better than exercising every day and hanging out in your own awesome health club? If owning a gym is your dream job — keep reading our blog. The truth is – opening a gym is a lot more than just buying gym equipment and unlocking doors. Succeeding at owning a gym takes planning, perseverance, moxie, and money. Today, we've spoken with experienced gym owners to learn four of the most common mistakes new gym owners make when getting started in the business. Understand your lease fully before signing on the dotted line! #1 — Signing a lease too quickly [...]
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