5 Things to Consider Before Owning a Gym

Reposted from www.abcfinancial.com

Congratulations, you’ve decided you are ready to become a gym owner. The global fitness and health club industry generates more than $80 billion in annual revenue. However, just because the market is great does not mean you should dive into the industry without proper research and planning.

You need to create a plan to ensure you have the proper certifications, a streamlined process to collect membership dues, know how many employees you’ll need to hire and have an automated way to simplify administrative tasks. Ensuring that you have everything you need to run a successful gym is critical before you make that leap. Below we have outlined 5 things to consider before owning a gym:

Certifications

Read more

  • 0

So, You Want to Be a Successful Gym Owner?

Let’s start with these simple questions

As with anything that has an upside, there will be risk. You can’t avoid it. However, you can help mitigate this risk with proper planning and preparation and surrounding yourself with industry experts. A place we always like to start by asking ourselves these 2 questions; what am I good at? And where do I struggle? Review the following questions to see where you need some help to improve your business;

· Are you a self-starter? The big failure I see in this area is we become content quickly. We don’t really start to push until the pressure is on. So many gym owners wait and wait, hoping things will change and then it’s too late. I think it was Mark Cuban that said it, “work each day like someone is trying to take it all away from you.

Read more

  • 0

Why hire a Membership Sales Coach when I already have a Sales Manager in my Gym?

Most health clubs already have a membership sales manager or someone who is in charge of membership sales production in some capacity, so why hire a sales coach for the membership department? Many sales managers are not trained in the subtleties of effective gym sales training nor have they developed the necessary skills and tools to be effective sales leaders. The most common way to hire a gym sales manager is to simply promote your best sales person in the membership department. This logic suggests this person is the most qualified to lead the membership sales team based on their past membership sales achievements. This type of promotion by necessity is common, but not commonly successful. In the process you may even lose your top membership sales performer when their leadership abilities fail to match their sales ability. The key reason being: Great gym sales people don’t often make great gym sales managers.

Read more

  • 0

Why Use a Health Club Consultant, Coach or Mentor

Why Use a Health Club Consultant, Coach or Mentor?

Isolation

Directors of health clubs and owners in particular, may be gregarious and confident, but they can also be very isolated. There are not many people to whom they can turn for help, often no one in their own organization. Uncertainty about trust and confidentiality, personal competition and the slipperiness of the business ladder often make it hard for an Owner or Director or Manager to turn to a colleague about issues that may put into question their performance or tenure.

A Fresh Mind

Perhaps even more common, however, is simply the wish to consult a fresh mind, someone who brings no investment or position of his own, an outsider who is not involved with the orga…

Read more
  • 0

Tedious Gym Management Tasks that Can Be Automated

Reposted from www.abcfinancial.com

There is no longer the time nor the place for tedious, manual tasks involved in managing your gym; automation is taking its place. Time is too valuable to waste, and with the industry growing at 3% annually, integrating efficiency into your gym operations to keep up with competition is imperative to your success. Even the simplest tasks can be automated to save you time and add a layer of professionalism to your gym. With the advancement of gym management technology, it is now an expectation that processes be completed as quickly and easily as possible.

These five tasks can be laborious if done manually, but if you start to automate them, you’ll see these tasks can be a piece of cake!

Member Check-In

Read more

  • 0

Tips for Opening A Gym in New Locations

Reposted from www.abcfinancial.com

Are you thinking of opening a gym in a new location but don’t know where to start — or if you are even ready for it? Growing your business involves a lot of new challenges, from employee management to sales strategy. But do not let these growing pains deter you from expanding! Follow these tips to determine whether you are ready to open in new locations and learn how to approach the process.

Are You Ready for Expansion?

The first piece of the puzzle is figuring out whether you are even ready for the move. There is nothing more damaging to a business than moving too fast at the wrong time — and running a gym is tricky.

If you are currently operating a single gym, make sure you are hitting your yearly revenue targets and making a p…

Read more
  • 0

When Was the Last Time You Submitted a Press Release?

Reposted from www.abcfinancial.com

I’ll bet it’s been a while…if ever. The press release is one of the most misunderstood and underutilized marketing strategies in the fitness industry. By submitting quality press releases to your local media outlets, you’ll get plenty of free publicity for your fitness business.

Press releases are a free form of promotion, and are one of the most powerful. Getting mentioned by a reputable source is much more powerful than a postcard campaign or other advertising you might be planning. Getting mentioned in local news media outlets lends credibility to your health club and will allow your target audience an unbiased way of getting to know you and your business.

First of all let’s discuss what a press release is. It is simply a method of lett…

Read more
  • 0

What is the Cost of Owning a Gym?

Reposted from www.abcfinancial.com

There are several key criteria to consider when calculating the cost of owning a gym. If you know all of the included costs ahead of time, you will be able to plan accordingly in order to maximize your profits.

Location

Location will likely be the largest cost of owning a gym but will also be the biggest factor in gaining foot traffic and potential customers. Rent mainly depends on where you plan on opening a gym; the cost of opening a gym in downtown Los Angeles will be significantly higher than the cost of opening a gym in the surrounding suburbs. In order to make the right decision, you need to balance out the rental cost with the location in the city. Another item to consider related to location is the demographics you want to target for your gym. If you are considering opening a gym…

Read more
  • 0

Gyms Are Expanding and Many are Eyeing Mall Vacancies

https://www.nreionline.com/retail/gyms-are-expanding-and-many-are-eyeing-mall-vacancies The fitness club sector is flexing its muscles. Fitness and health clubs have grown to be a more than a $30-billion-a-year industry, according to research site Statista, with more than 36,000 clubs across the U.S. boasting more than 60 million members. Top players in the health club industry reported steady growth in 2017 and many are expanding through new development or acquisitions. Life Time, LA Fitness, Planet Fitness, 24 Hour Fitness, and Equinox Holdings (with its brands Equinox, SoulCycle, Blink Fitness and Pure Yoga) all had growth years, according to the 2018 Club Industry Top 100 Clubs list. The current environment appears to offer a perfect storm for the fitness center sector  as consumers become more health-conscious and the economy continues to improve. Fitness concepts are also more internet-resistant than traditional retailers—you can’t work out online, though it’s…
Read more
  • 0

We buy gym and fitness equipment from all over the country.

We buy gym and fitness equipment from all over the country. We have the experience to buyback your entire gym or fitness center and have all the equipment removed by our professional team. We have purchased hundreds of gyms for over 25 years and have become the leading industry equipment purchaser all over the USA. If you have a gym that is trading in equipment, closing, liquidating assets or have some extra gym equipment to sell please contact us at fmconsulting.net/contact or text 214-629-7223.
Read more
  • 0

Gyms for Sale

Have you made the decision to sell your gym. This is a critical moment in your business cycle and we want to help you receive top offers. We understand that the sale is more than a transfer of assets and we will help you maximize the profits from your exit. We have over 30 Years of experience in the health & wellness industry and we know what buyers want. Contact us today! fmconsulting.net/contact or 800-929-2898. #gymbroker #healthclubbroker #businessbroker #gymowners #fitness #mma#crossfit #kickboxing fmconsulting.net/gymsforsale
Read more
  • 0

Listing Gym Broker – Co-broker

We want to Help! Would you be willing to work with us as a Business Broker to help sell your business for you??? There are NO Fees until your business sells. We will Advertise, Market, Network & Promote your business For Sale. We will work hard for you. We want to Help! We have a very strong data base of buyers who we work with that are specifically interested in the fitness business. We look forward to hearing from you. Please advise ASAP so we may execute a Sale of your Business. Other brokers are welcome to contact us.  We will co-broker.
Read more
  • 0

Financing Opportunities for your Gym

You can’t execute your vision for your gym if you don’t have the financial resources needed to implement it: this is a simple truth for every gym owner across the industry. It takes capital to transform vision into reality, and in most cases, the bank across the street from you may not be your best option. In fact, given the strict nature of bank lending over the past decade, it may not be an option at all. Most small- and medium-sized gyms and fitness centers struggle to secure funding needed for acquisition, growth or working capital needs. Gym owners are focused on the day-to-day challenges of running their club, and it can be very difficult and time-consuming to survey a vast array of lending options to identify one that can actually be secured. While every vision will not be suitable for every lender, there is usually a lending partner somewhere that is the right fit for that vision. And it is the role of Fitness Management & Consulting to connect you with a lend…
Read more
  • 0