Location of business

[InsanelyFit]

Hey guys, just wanted your opinion on starting a business on location.
I have researched this by going to various statistical sites and seeing what the population of each area was. Looked into occupation, income etc. and found both areas are similar.

Would you start your business where there are a lot of businesses competing? Or would you take a risk and start it at an area with not so many businesses around?

Thanks.

[PerFit]

moving to an area where there already businesses is great because:

1. its a successful area

2. if you are better than the competition, you already have a high level of interest from these people in the area

[Nate R.]

Big cities in texas seem to be doing very well for businesses. Such as Houston and Dallas. Just an example "Personal Trainer Houston" gets searched 480 times each month into google. So if you popped up for that you would get automatic leads.

Basically any big city you could do well with it, but there will be competition.

[SFT]

I would definitely consider proximity to major highways. In a larger city this might not be as important. However, in a suburb such as where I live, living close to a major highway might mean an additional 100,000 or more people who would be willing to drive to the facility.

[InsanelyFit]

Thanks for your responses guys :)

[Teekz9]

Hey guys, just wanted your opinion on starting a business on location.
I have researched this by going to various statistical sites and seeing what the population of each area was. Looked into occupation, income etc. and found both areas are similar.

Would you start your business where there are a lot of businesses competing? Or would you take a risk and start it at an area with not so many businesses around?

Thanks.

There are pros and cons to both. If you go where there are other personal training businesses you at least know that people in the area can afford personal training and secondly that there are enough of those people to support multiple businesses, that is the good news.

The bad news is that for you to come in and take a piece of the pie you will need to either be better than at least one of the other businesses in some way. Price, service or location or position yourself differently and hope to find a segment of the community who isn't being catered to.

I would recommend you do a bit of field research and visit your potential competitors, write down each places strengths and weaknesses and if you can speak to a few members at each club. You will be amazed to hear what the members like and hate about the club.

If you do decide to become a competitor you can use the weaknesses you have discovered as a means to position yourself and garner the interest of dissatisfied members from the other clubs.

The second option, opening up in an area with no competition is far riskier if you ask me, but could prove to be very lucrative if there is an unmet need for your services in that area.

The first thing I would consider when looking for an area to set up shop is whether the people in the area can afford personal training, and if not are there people in close proximity who would be willing to travel to see you who can?

If the residents aren't going to be able to afford your rates you may have to lower them to stay afloat or start offering group training... Which may be a better approach if you do decide to set up shop in the area without any competitors

Personal training is expensive, and for you to keep the business running you will need a steady stream of clients who can afford to pay.

Either way, do your research and good luck

[InsanelyFit]

Thanks! :)