Starting a business is one the most exciting challenges in anyone’s career. When your passion for fitness has the capacity to involve the whole community through starting an independent gym, you know that you have achieved something exceptional, both for yourself and for the people around you. Here are 3 easy steps towards starting a successful fitness studio, all of which should help you consider what you’ll need to set up successfully.
Expect the Unexpected
Like any new business, to achieve optimum success with your new fitness studio you need to plan in advance and budget for worst-case scenarios. Too little financing is (unsurprisingly) one of the principle reasons that many start-ups fail, and you should approach your business with a realistic budget and a third more funding than you should need. Financial planning is not to be taken lightly; taxes, permits, investments and equipment may start off as very small sums but all these elements will gradually accumulate.
One way in which you can guarantee that your fitness trainers are protected in potential mishaps within your new studio, such as unfortunate circumstances including client injuries, general liability insurance is highly advised as it is an extra layer of protection for your business and it is worth investing in insurance to avoid incurring further costs during a mishap within your gym.
Hire The Right People
Your staff are the face of your brand and the reason why customers will return to your fitness studio. Who to hire at the beginning of your journey into entrepreneurship will be a pivotal element in your fitness studios success. It is important to note that when you hire people, especially if they are ex-colleagues or friends, that it is better to offer permanent contracts to only the most essential staff members. Other employees can be hired as contractors or on a freelance basis – and can be moved onto a more permanent basis if they impress and excel. This will also protect you in the event that your fitness studio is unable to turn over a profit and begin to lose money, as permanent staff members are legally binding whereas temporary staff will give you more leeway as you initialise the studio. Some roles that you may want to initially hire on a freelance basis:
- Niche fitness instructors
- Marketing specialists
- Social media practitioners
- Web designers
Don’t Forget to Be Social
Whether or not your fitness studio will flourish is hugely dependent on word of mouth, whether through digital means or in ‘real life’. If you give your clients a fabulous experience, they will hopefully tell everyone in their social sphere, but there are also ways to incentivise sharing the joy that your fitness studio has ‘sparked’. In this day and age, seeing is believing and there is no better way to share the journey of clients and staff than through Instagram: this will show potential clients that you are genuine and can boost your profits at the same time. Real life promotions can also be very lucrative for gyms and offers such as ‘bring a friend’ or free taster sessions will create a hive of activity around your new business.
Business start-ups are a brilliant way to earn a living and fulfil your wildest dreams. As long as you are dedicated to creating a safe, enjoyable and supportive environment in your gym, it will flourish.