My Brand new Private Studio [Pics]

[Own3r]

You plan on opening 2 more studios like this one in 12 months? How? Didn't this one cost you 250k to open up?

If I show the bank positive cashflow they are loaning me enough for 2 more , that was the initial idea.

[jphalflion]

If I show the bank positive cashflow they are loaning me enough for 2 more , that was the initial idea.

Wow, great stuff man. Just don't buy as many machines.

[Own3r]

Wow, great stuff man. Just don't buy as many machines.

Yeah once I get around to building the other one, I will make it a bit larger then this one... but that is how we learn

[PerFit]

Yeah once I get around to building the other one, I will make it a bit larger then this one... but that is how we learn

this.

there are many things I have bought for teh studio which i hardly use.

[RealXtrav]

Yeah once I get around to building the other one, I will make it a bit larger then this one... but that is how we learn

yup make perfect sense...definitely trying to open up another b4 summer.

[md3sign]

Own3r,

Just re-read this thread again, this is sick. I, like many others, am jealous. What was your PT background prior to opening this studio? You mentioned you got sick of working at a big gym ... what made you decide to go straight for your own studio and not independent, or something else? How long would you say the entire process (conception > realization) took? You mentioned something about a year. That still seems like a VERY short time to accomplish so much ... get ideas together, find a place, business plan/loans, build it, branding, launch, etc.

I'm wondering because I'm in a slightly similar situation - I'm on the verge of leaving my current occupation and switching careers into PT full time. I've been saving, getting certified, and planning it out for the past 10 months or so and been training for the past 3 as time has allowed. So I don't have that many clients, but enough to feel confident going all-in. I'm currently training as an independent at a studio and paying out 30%, but I did some initial math and realized that once I get my income past a certain point (shouldn't take long), I'd be better off renting a commercial space and opening my own studio. Seems like there's quite a bit of involvement though. I'm trying to take it one step at a time and do it right, so this is very inspirational.

You didn't by any chance go through any of the (paid) material on Super Trainer, did you? Because your story seems a lot like what Kaiser talks about ... dumping the gym, opening up a studio, then opening more, etc.

[RealXtrav]

Own3r,

Just re-read this thread again, this is sick. I, like many others, am jealous. What was your PT background prior to opening this studio? You mentioned you got sick of working at a big gym ... what made you decide to go straight for your own studio and not independent, or something else? How long would you say the entire process (conception > realization) took? You mentioned something about a year. That still seems like a VERY short time to accomplish so much ... get ideas together, find a place, business plan/loans, build it, branding, launch, etc.

I'm wondering because I'm in a slightly similar situation - I'm on the verge of leaving my current occupation and switching careers into PT full time. I've been saving, getting certified, and planning it out for the past 10 months or so and been training for the past 3 as time has allowed. So I don't have that many clients, but enough to feel confident going all-in. I'm currently training as an independent at a studio and paying out 30%, but I did some initial math and realized that once I get my income past a certain point (shouldn't take long), I'd be better off renting a commercial space and opening my own studio. Seems like there's quite a bit of involvement though. I'm trying to take it one step at a time and do it right, so this is very inspirational.

You didn't by any chance go through any of the (paid) material on Super Trainer, did you? Because your story seems a lot like what Kaiser talks about ... dumping the gym, opening up a studio, then opening more, etc.

Well the reason why you still stuck haven't move yet, because you haven't got the Will of Fire and desire to Full-out on PT. IF you feel that this is what you love to do, then ppl will see that and flock to you. Work PT FULL-TIME to experience your Full potential before opening up a studio. Just make up your mind let the risk be the pressure to get you going to grab more clients so you don't just have a decent wage. But it will force you talk to more ppl because you have to pay your bills at the end of month. By doing that your inter-personal skill will rise dramatically and you will have gone through so many flaky ppl that it doesnt even phase you no more.

1.GO full-time PT in January
2.Goal of 15 clients(use semi-pt to your advantage)
3.Set-up 3month packages plans
4.Focus on your dedicated clients because they will stay with you and bring you refferals
5.April-May open up your own commercial studio
6.Hunt for a partner w/ the same training mindset to split rent cost

[nmlockwood]

That is a nice gym! Where is it at?

[chadmackey]

No need for much open space as its 1 0n 1

Understand that, but it doesnt look like you have any room for any kind of movement. And what about if u have multiple clients in "1 on 1" situations? You are OBVIOUSLY doing fine, im just picking your brain for my future.

[superdad88]

since we are already working on opening 2 more "copy" studios in 12 months.

Great place and I wish you well but I would like to say.

I caution you that growing to fast is a BIG mistake. I would stick with one place and make it the best you can, then after a few years if everything is going good and you owe NOTHING then open another place. If your planning on opening 2 new places in 12 months that is just WAY to much debt to take on. Sure the banks will loan you all the money you want because they dont care if you make it or not. They will get there money back from you one way or another.

I opened a heating and air shop back in the early 90's. Did it part time and when I couldnt keep up with the demand of clients and service work and it was interfering with my full time job I quit and did the Heating and air thing full time. I opened a small shop hired a couple employees. 5 years later after all my debts were paid off and I owned the biz free and clear. Right down to the hammers and the building. I opened another shop. I learned ALOT along the way and had to controll the urge to open a 2nd one to soon and I am glade I did. So fast forward to today. I dont even have to step foot in the biz.

My money works for me. I dont work for my money.

Just my advice. or 2 cents.

[md3sign]

Well the reason why you still stuck haven't move yet, because you haven't got the Will of Fire and desire to Full-out on PT. IF you feel that this is what you love to do, then ppl will see that and flock to you. Work PT FULL-TIME to experience your Full potential before opening up a studio. Just make up your mind let the risk be the pressure to get you going to grab more clients so you don't just have a decent wage. But it will force you talk to more ppl because you have to pay your bills at the end of month. By doing that your inter-personal skill will rise dramatically and you will have gone through so many flaky ppl that it doesnt even phase you no more.

1.GO full-time PT in January
2.Goal of 15 clients(use semi-pt to your advantage)
3.Set-up 3month packages plans
4.Focus on your dedicated clients because they will stay with you and bring you refferals
5.April-May open up your own commercial studio
6.Hunt for a partner w/ the same training mindset to split rent cost

You are correct, I just haven't had the time yet to go all-in. That will change very soon. I have the desire, I'm just wrapping some things up before I switch over ... timing is a key point right now. Good suggestions.

[LimpyPacino]

I envy your clients, great studio!

[Own3r]

Own3r,

Just re-read this thread again, this is sick. I, like many others, am jealous. What was your PT background prior to opening this studio? You mentioned you got sick of working at a big gym ... what made you decide to go straight for your own studio and not independent, or something else? How long would you say the entire process (conception > realization) took? You mentioned something about a year. That still seems like a VERY short time to accomplish so much ... get ideas together, find a place, business plan/loans, build it, branding, launch, etc.

I'm wondering because I'm in a slightly similar situation - I'm on the verge of leaving my current occupation and switching careers into PT full time. I've been saving, getting certified, and planning it out for the past 10 months or so and been training for the past 3 as time has allowed. So I don't have that many clients, but enough to feel confident going all-in. I'm currently training as an independent at a studio and paying out 30%, but I did some initial math and realized that once I get my income past a certain point (shouldn't take long), I'd be better off renting a commercial space and opening my own studio. Seems like there's quite a bit of involvement though. I'm trying to take it one step at a time and do it right, so this is very inspirational.

You didn't by any chance go through any of the (paid) material on Super Trainer, did you? Because your story seems a lot like what Kaiser talks about ... dumping the gym, opening up a studio, then opening more, etc.

When me and my partner decided to open a studio we both worked at the same huge gym for a number of years and realized that the management was hurting more clients in the long run then they help, many clients were very upset, yet nothing was done.
At this point we decided that we will make a change and make sure to offer a product that would benefit the clients and keep them happy. So scouted for locations non stop for 3-4 months, and finally found a place with not gym in a 5km area in a very wealthy neighborhood.
I was lucky as my parents own a financial management company and have a VERY good relationships with banks and have a team of very well established accountants who took our initial business plan of 60 pages and made numerous corrections in everything from financial statements to marketing plans to the overall content in order to make it in a way that a Bank would be fully satisfied.
While doing this I started working with an interior designer on the studios concept, once the initial portion of the loan came in the contractors started the works and the place started to materialize before our eyes.
Then the marketing and branding nightmare came, I had to go through hundreds of suppliers for Folders, tshirts, business cards, web, SEO, Radio, new papers, posters, bus advertisements and many many many other things, just the shopping around took me a month and I was heading towards over depleting my initial forecasts and budgets.
Finally I managed to chose the things that we really needed and kept the rest for better times.
Long story short, the studio was completed and ready for business BUT the city would not issue us an operations permit and the actual equipment was 3 weeks late... so more unforeseen spendings as I had to pay for the rent and electricity/heating and all other crap for a full month without serving 1 client.
Finally it all come together and we opened our doors.

One year passed like 2 months, I mean I still remember how 12 months ago I went in to my old bosses office and told him that I quit which resulted in my immediate ban from the Gym lol.

If you are confident that YOU can provide a service that is unmatched by your immediate competition, then there is no reason not to open your own business, if you have doubts take a year and work full time and build a solid base, you want to save up enough money and make all the research that you can in order to open something VERY solid right away.

I never had the mentality of starting smaller and then improving. I always went for the best I can right away.

[md3sign]

Thanks for the info, it's helpful. The nightmare part you mentioned sounds about right, along with the hiccups. You say "open up something very solid right away", but at the same time you have years' worth of experience already training at a gym, so you were already in a semi-prepared spot to make this happen. I'm not making excuses, just wondering about the duration of the process. My personal timeline is going PT full time in January and grossing the monthly equivalent of my current paycheck within 3 months tops. That's the farthest step I can clearly see ahead right now. The benefit of my current setup, although 30% payout is a little steep, is that I have no facility related overhead. I don't need to worry about equipment, or bills, or cleaning, or any of that. Since it's a private studio, traffic is very light as well. It's like having your own place (almost) and paying a fee (30%) to have someone else take care of everything for you except the training.

I would like to open up a place (pros/cons of renting vs. buying commercial space?), maybe even in 2011 depending on how things go. I guess I'll find out more about what's REALLY required once I go all-in since I'll have a lot more time, but since that's coming up in 3 weeks I want to prep as much as possible.

Going to keep following this.

[Own3r]

Thanks for the info, it's helpful. The nightmare part you mentioned sounds about right, along with the hiccups. You say "open up something very solid right away", but at the same time you have years' worth of experience already training at a gym, so you were already in a semi-prepared spot to make this happen. I'm not making excuses, just wondering about the duration of the process. My personal timeline is going PT full time in January and grossing the monthly equivalent of my current paycheck within 3 months tops. That's the farthest step I can clearly see ahead right now. The benefit of my current setup, although 30% payout is a little steep, is that I have no facility related overhead. I don't need to worry about equipment, or bills, or cleaning, or any of that. Since it's a private studio, traffic is very light as well. It's like having your own place (almost) and paying a fee (30%) to have someone else take care of everything for you except the training.

I would like to open up a place (pros/cons of renting vs. buying commercial space?), maybe even in 2011 depending on how things go. I guess I'll find out more about what's REALLY required once I go all-in since I'll have a lot more time, but since that's coming up in 3 weeks I want to prep as much as possible.

Going to keep following this.

You are on the right track bro! Do not rush things to fast, as for renting vs buying the problem is that you can not just buy a space in a strip mall, you have to actually buy the whole mall or rent
PS. You Russian bro?

[md3sign]

Yea that's exactly what I'm thinking, don't want to rush it, but at the same time want to keep moving forward if things are progressing well, which is why I'm interested in your timeline.. I thought you bought your place? Or did I misread that it's near a strip mall and not in one?

Yes I'm Russian, born and raised.

[PerFit]

I regards to opening another studio, its not as easy as you may think.

The best way to see if running another studio will be viable is to leave your current studio for a whole month (go on holiday). When you come back is the studio running just as well as when you left it? Is it making just as much if not more money than when you left?

If so, you should look into the new studio. If not you are not ready for a new place.

[Own3r]

Yea that's exactly what I'm thinking, don't want to rush it, but at the same time want to keep moving forward if things are progressing well, which is why I'm interested in your timeline.. I thought you bought your place? Or did I misread that it's near a strip mall and not in one?

Yes I'm Russian, born and raised.

Togda v dvoine tebe udachi bratan!

I regards to opening another studio, its not as easy as you may think.

The best way to see if running another studio will be viable is to leave your current studio for a whole month (go on holiday). When you come back is the studio running just as well as when you left it? Is it making just as much if not more money than when you left?

If so, you should look into the new studio. If not you are not ready for a new place.

Great advice man! Thanks

[md3sign]

Togda v dvoine tebe udachi bratan!

Ia prochital knigu "the millionaire next door", gde pokozali shto bolshia chiast novih millionarov evropietze, iz nih russkie pervii. dovay statistiku potderszhavat!

/threadjack

[RealXtrav]

@md3sign

What is the package plan your giving your clients? Plus how many clients do you have?
70% is still good depending on your package plans. When you decide to rent your own studio, you will have to pay out around 20-30% anyways. Majority of gyms payout rate is around 65%..Yikes!..So your gonna do excellent with more time available.

@owner
DO you have blog? I know some us would love to follow your road of living the dream!

[Own3r]

@md3sign

What is the package plan your giving your clients? Plus how many clients do you have?
70% is still good depending on your package plans. When you decide to rent your own studio, you will have to pay out around 20-30% anyways. Majority of gyms payout rate is around 65%..Yikes!..So your gonna do excellent with more time available.

@owner
DO you have blog? I know some us would love to follow your road of living the dream!

Unfortunately I don't as one part of the living a dream involves being at work from 7am til 9pm almost everyday with not much free time on my hands, but I promise to add interesting updates in this thread.

[md3sign]

@md3sign

What is the package plan your giving your clients? Plus how many clients do you have?
70% is still good depending on your package plans. When you decide to rent your own studio, you will have to pay out around 20-30% anyways. Majority of gyms payout rate is around 65%..Yikes!..So your gonna do excellent with more time available.

After the $99 starter package I have 1, 2, 3, 4, and 6 month recurring plans. Minimum is one month. With 2+ months commitment at a time I throw in free sessions. The total # of sessions and total # of freebies varies with # of sessions/week. As for # of clients, not enough, but I'm working on it

[A189V]

Amazing studio man, great investment.

[PressCAPLOCK]

wow, just wondering, how much did you make in that one month span, and did you get alot of customers and how did you advertise?

[Own3r]

wow, just wondering, how much did you make in that one month span, and did you get alot of customers and how did you advertise?

Got 7 brand new clients since the 1st of December, the advertisement I did on the Radio gave me nothing except a 6k bill, so will not be doing that. So far the most successful thing was approaching large corporations.

[Boom782]

Got 7 brand new clients since the 1st of December, the advertisement I did on the Radio gave me nothing except a 6k bill, so will not be doing that. So far the most successful thing was approaching large corporations.

Hmm...mind elaborating a little? I was thinking about doing some radio spots for my studio but wasn't sure if it would give me good ROI. How did you go about approaching large corporations?

[PressCAPLOCK]

how much did you make in that one month span? that gym looks so nice, and is it just you and your partner working there atm, or are there more people?

[NDiMa7]

Wow this is really nice, props for all the hard work man this type of business is not easy.

[bennzz]

Its in a strip mall in a very wealthy suburb of Montreal. So there is a lot of passer by traffic.

I used to live within 10 minutes walking range of your studio

[bennzz]

Yeah once I get around to building the other one, I will make it a bit larger then this one... but that is how we learn

which areas are you looking into for the others?