Taking the next step in any journey can seem exhilarating. It can be exciting to imagine the possibilities, as they may seem endless. As you explore opening a fitness facility there are several questions to consider. The decision and the steps to starting a fitness facility go beyond a business plan. The training needed might surprise you. Robert Dyer, CEO of Fitmarc and 26-year fitness industry veteran, has many tips on the realities of starting an exercise gym.
Know the Industry
If you are unfamiliar with the business aspect of the fitness industry or the fitness industry in general, the first training needed is to get to know the industry. "One thing that helped me was understanding and building relationships in the industry," said Dyer. One way to do this is through social networking via LinkedIn, Twitter, Facebook or similar sites. Begin to get to know key players in the industry and learn what they do and how they do it and begin to connect. Make a contact and ask advice. If social networking does not appeal to you, find ways to connect with a local gym owner.
Another way to get to know the industry would be to work in the industry. Become a fitness trainer, work at the front desk of a facility, do some of the grunt work and get to know what is needed for day-to-day operations. "We did it the hard way. Grassroots, hard work. It was tough but you make it work," said, Dyer who attributes the hands-on approach and hard work from the past to his success. "I know the pains and pressure, one thing lead to another and the facilities grew and grew," he said.
Business Plan
It isn't all about the business plan, but business plans are essential for a successful business. There are several helpful resources available. You might start with the U.S. Small Business Association. The SBA provides resources as well as online training. All of the training provided by the association would be beneficial in developing a business plan. Business plans generally include: an executive summary, business description, market strategies, competitive analysis, design and development plan, operations and management plan and financial components. This plan will include how you will financially support your business. If you plan to go to a bank don't be discouraged by denials. "It wasn't until about the 11th bank did I get someone to listen to me. It would have been easy to walk away," Dyer continued, "I went in with my game face on. He agreed to loan $500,000."
Sacrifice
Starting a fitness facility takes sacrifice. Sacrifice of time, family and other obligations. Rather than making a to-do list, seriously assess abilities, desire and motive. Try answering these pertinent questions: Why do you want to be in this business? What are you going to do different from the companies around the corner?; What is excellent service?; What do you mean by service?; How many members do you need to have with the resources you have? Is this the best use of your time, talent and resources? These questions are essential to be able to answer clearly and concretely. The point isn't to discourage opening a fitness facility, but rather encourage you not to take the decision lightly. Starting a fitness business takes passion and tenacity.
More Training
For some, hands-on training in the specific field of fitness rather than general small-business training that the SBA would provide would be much more appealing. The Human Kinetics Education Center has a training course just for you. The online course, "Starting a Fitness Business," is designed to help prepare anyone to start a fitness business whether it's a personal training format or a fitness facility. The course includes a 96-page PDF reference guide. The American Council on Exercise also supports the course and provides continuing education credits for ACE-certified professionals who take the course.
References
- U.S. Small Business Administration: Online Small Business Training
- Entrepreneur: Elements of a Business Plan
- Human Kinetics: Starting a Fitness Business
- American Council on Exercise: Continuing Eductation: Starting a Fitness Business
- Interview with Robert Dyer, CEO Fitmarc
- USA Today; Starting a Business: What it Takes; Jim Hopkins; October 2006
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