Startup Costs: $10,000 - $50,000
Franchises Available? No
Online Operation? No
In the past 20 years, fitness centers have not only proven to be popular and very much in demand by fitness conscious consumers, but they have also been proven to be very profitable as a business opportunity. Opening a fitness center requires careful planning and research, and the following are aspects of the business that should be considered: Location. Where will the fitness center be located, how much square footage will be required, what are the leasehold improvements going to cost, is there good visibility, access, and parking, and is the business located in an area comprised mainly of the target market customers? Operating format. Will the fitness center cater to all people, or will the focus of the business target one specific group of people? Will the fitness center be full service, meaning optional aerobic classes and one-on-one personal training for clients? Staff. Is there access to trained fitness instructors and staff in the community where the fitness center is being established, and if so what are the wage and benefit demands, as well as expectancy of staff in terms of career opportunities? Marketing. How will the fitness center be marketed? Will it be by way of membership drive or a drop-in rate established? What enticements or services will be used as a marketing tool to draw members from competitors' fitness clubs or facilities? Competition. How much local competition is there in the fitness industry, and is the competition in the form of a chain fitness center, community-operated fitness center, or independently-operated fitness centers? How much does the competition charge? Is there the possibility of a price war? Can the proposed business gain enough clients to be profitable? What is the effect on the business from potential future competitors? There are many aspects to carefully consider prior to starting a fitness center. However, with careful research and proper planning a fitness center can be a fabulous business to start, operate, and own, not to mention that it also has the potential to be very profitable.