Have you been thinking of starting a gym studio? Well, now is the best time to make that investment. Like any other business, the studio needs passion, time, and resources. In the beginning, you don’t focus on creating a profit. Instead, it should be about making an establishment and attracting clients to your studio. Usually, it is more profitable than the traditional gym, hence more profitable. Let’s see some reasons to start the studio gym and some tips to help you stay afloat.
Reasons to Start a Gym in the Studio
There are various reasons that you can get from investing in the studio gym. Not only is the fitness studio better than the traditional gym, but it also allows you more versatility in the activities.
Image by Pexels
You Can Address Real-time Issues
Sedentary life has caused an increase in obesity levels. Out of ten people, five are obese. The obesity levels range from mild (slightly overweight) to extreme. Even worse, obesity rates have doubled not only for adults but also in children. Most of them are now obsessed with fitness and are more conscious about making healthier decisions. By venturing into the business, you are taking part in creating the studio gym to help other people get more fit and lean in their health.
Requires Little Equipment and Staff
Setting up a gym in the studio requires little equipment and members of staff for the manning. Not only are they convenient for small groups and families, but they also contribute to reduced costs of operation. As the owner, you will only need little equipment and staff. The visitors can then recommend their friends or family into the facility hence giving that sense of community. Additionally, you can set it up in a small room and cut on the overhead costs of running such a business.
Requires Minimal Space
Starting a gym in the studio eliminates the need for massive space. As such, you can lease a small room, for the time being, furnish it and fill it up with little equipment. Most of them can accommodate from seven to fifteen persons. This is interactive for the participants as the space is just adequate for exercising and fitness activities. Renting a smaller space translates to lower costs in the end, which is good for profits. A gym fitness studio owner gets a great return on investment by using minimal space.
Takes Advantage of Tracking Technology
A studio gym hugely benefits from advantaged tracking technology. You can provide your studio members with high tech solutions to help track their fitness activities. By being able to watch their progress over time, they can get motivated even to get better than the traditional gyms where someone goes in every day, without the accuracy in the progress of achieving their fitness goals. Some activities and technology like gym catch are only workable in a gym fitness studio setting. It plays a vital role in the fitness management plan.
Tips for Starting a Gym Fitness Studio
One of the boldest steps is investing in a gym fitness studio. However, just like the other businesses, it also has hurdles in the beginning. Investors must understand that it gets better as time goes by. Let’s take a look at the tips for a successful investment in a gym fitness studio.
Pick a Perfect Location
Finding the right location for the gym fitness studio influences your clients’ number of visits. You can open it in an area with high people traffic, near a major meeting point, or in a spacious area with adequate parking space. They should access your location within a few minutes from a central point. Additionally, it should be formal and elegant to make them feel comfortable while in space. With a great location, you can easily attract clients from all walks of life.
Make Use of a Booking System
Since a gym fitness studio has limited space, you need to acquire a booking system to help your clients plan their gym time. You can also use scheduling software to know how long they should be performing a particular exercise or at a specific machine or equipment. It should be compatible with their devices to avoid inconvenience. The best fitness management and scheduling software come from gym catch. They also have a gym studio membership management that you can take advantage of.
Comply with Legal Requirements
Starting a business can be a daunting process, especially when you have little knowledge of the legal requirements. As such, you can contact a lawyer to help you understand all the required legal considerations as well as the licenses for operation. You also need to understand the insurance clause to set or write for your client’s contracts. This prevents you from future lawsuits that could be prevented.
Get Versatile Gym Equipment
Acquire versatile gym equipment and double up on the minimal space. Gym equipment can be expensive. As such, you can choose to lease for a few months before you purchase your own. Alternatively, you can talk to several equipment dealers and get them on hire purchase. It is always more comfortable if you do not put all the money into the acquisition.
Beginning a studio gym is a wise idea. The right time to invest is now and with whatever you have. You can start with that small space, two or three workout machines, and slowly advance your way upwards. Every business has its intricacies. You need to perform extensive research and know what you are getting yourself into. Get a precise business plan written and follow through to know your projected income, expenses, challenges, and how you will curb them when they arise.