Part 2 of a 3 part series that will provide tips and how to’s on opening a new gym.
In the first part of this series we discussed the different types of facilities one could open, the differences between a franchise and an independent club and funding options. In this next installment we’ll delve into the world of finding a property, floor planning and equipment purchasing.
Location, Location, Location!
Deciding where to open your fitness facility may be one of the most, if not the most, important factors for determining your success or failure. According to IHRSA's Guide to the Health Club Industry for Lenders & Investors, “the trading area for clubs in competitive markets extends no more than 10-12 minutes travel time from the club, which translates into no more than five miles from the club site.” Furthermore, theIHRSA Trend Report cites lack of convenience and close proximity as being one of the top reasons former gym members quit a gym.