How much does it cost to open a gym? (serious)

[Fearless_]

$500,000 for a cheap one. For a good one, we're talking a couple to a few million.

[Hallock]

You'll go broke really quickly in my opinion. Unless you hit a niche market, you're not going to be able to make it.

[FaceThePain]

Ok, here's some things to think about. (I'm actually in the process of trying to open a small gym as well)

First, space.
How big/small of a space will you need?
How many people will you be able to accomedate at any given time?
Will there be an office? Showers? Sauna? Freeweight area? Or will this all be one large open area, very "Animal"ish, freewights only type gym?

Second, equipment.
What do you need, and how much will it cost?
Obviously the basics are needed... squat rack, bench, dumbell rack, rowing machine, lat tower, etc etc etc.
Then, once you know WHAT you need, how many of each will you need?
Noone likes a gym where you have to wait all day for a spot to open.

Third, who will work with/for you?
If you open a buisness, using a grant, you'll HAVE to hire a set # of people.
If your using a loan, after all expenses, what's left to pay employees?
How many employees do you need, if any, and how will you pay them?

That's pretty basic.
You'll need a building permit to build the actual gym, a buisness license, and tax ID from the gov.
You'll need to file a fictitious name statement with the county clerk, (the name you'll do buisness under), and once greenlighted, the business license will come into play.
Along with this, you'll need to open a bank account under said business name, and file with the county.
You will have to file taxes each year based on what you make under the business, and personal.
Then you'll need to think about electricity, water, basic needs such as that.
Marketing, etc etc etc.

It can get VERY expensive if your trying to open even a small time gym, so be prepared.

The gym I'm opening is a non-cardio gym, for serious lifters only.
It will have the basics, and probably only be able to give room to 50 people at any given time.

[KIDRR]

1 million dollars

[yabbayabba]

The gym I'm opening is a non-cardio gym, for serious lifters only.
It will have the basics, and probably only be able to give room to 50 people at any given time.

Honestly I have a feeling thats a bad idea. Its the cardio bunny moms and fat middled aged guys that are going to be your bread and butter memberships. Maybe in the Chicago area you might have some luck. But I'm thinking unless you have a famous name people aren't going to drive 20-30 minutes out of their way when they could just be careful about dropping the weights and stick to their local chain gym.

Yeah everybody says they want a hardcore gym. But most likely your membership fee will be quite high because you are going to have a very limited user base. Again most people would pay cheaper and just step lightly.

OP, this is something to think about as well.

[Nasty$al]

Im 18 years old, soon to be 19 and am mad that i am just getting serious but this now.

How much do you guys think it would cost to open a gym in NYC? I live in the Philly suburbs at the moment and am currently in college getting a business degree - I HAVENT LEARNED **** FROM SCHOOL. Everything business wise that i have learned has been from owners of other gyms that ive been in over the years and i can find out even more as i will.

The degree i am getting isnt to open a business anyways...its because i am also considering being a cop but i need 60 college credits (could be any subject).

But here is my dilemma...i can stay in schooll for another 1 1/2 years and become a cop making top pay in the area of 60-85k, chances are more so around 75k AFTER overtime. But its something i will be doing because im afraid of a risk and its the "safe" choice. (My father is a cop and he says DONT BE ONE, but i am almost guarenteed a job)

-OR-

I can follow my dreams and take a risk. Open my own gym in the city i love (NYC - not manhattan, Queens or Brooklyn). BUT, here is the idea...since my dad is a cop, his friend can get me a job sometime within the next 6 months. So around the age of 19 i can begin working making some decent money and saving while living at home. Now if i save till im 22 (the same age as everyone else is getting out of college) i could have a nice little bank account to purchase gym equipment and the things i need, leaving the potential to get a loan for the actual building. Ill have to start building credit over the next few years aswell. HUGE RISK - but if theres any job i would rather do its be my own boss and own a gym and i was thinking - why am i not even going to TRY to get what i truly want in life?



SO what are you guys thoughts on this???


And more importantly, how much (guesstimate) do you think it would take to open a gym in NYC?





discuss

I dont know about the costs bro... probably really high. Property in NYC is fuccing EXPENSIVE! Add the cost of equipement, staffing, payroll, etc... you're looking at close to a million or so... depending on how nice you wanna do things.

Bottom line is YOU HAVE TO FOLLOW YOUR DREAMS! You can make it work man. Hard work, laser focus, positive thought, and consistency will be key. YOU CAN DO IT MAN!! Dream big and dont let anyone tell you that it can't be done!! If they do, SHUT THEM OUT OF YOUR LIFE!! Only keep those who are with you on your team!! MOTHERFUCC ALL THE REST!!!

$al

[SuperCHARKA]

Top of the line new equipment for a 1,000+ person gym will cost you more than $170,000. Then add a building, land, and parking. If you want a hole in the wall, though, I could see that being run for $15,000 a year plus several grand for some old equipment.

[mancubuss]

in NYC you won't make it cuz all the other franchises will beat u by simply having more money...placement of ur gym is key, in nyc there are tons everywhere .....u gotta pick a place that there arent in a 20 minute range, or at least one that will offer what you will, which means you'll need to offer something special, whether its a hardcore atmosphere, the opposite, tanning, etc

[user1792222222222244]

in NYC you won't make it cuz all the other franchises will beat u by simply having more money...placement of ur gym is key, in nyc there are tons everywhere .....u gotta pick a place that there arent in a 20 minute range, or at least one that will offer what you will, which means you'll need to offer something special, whether its a hardcore atmosphere, the opposite, tanning, etc

thats why im kind of thinking about buying a franchise too. Would it be cheaper?

[JeRSeY KiD 3]

Don't bother.

I am opening one up in the area and I will run you out of business.

LOL JK

[the next arnold]

I would look at $3m+ to be competitive

then you need to worry about actually getting people to work out in your gym

[user1792222222222244]

i was looking online at some "Industrial Commercial Real Estate"....i seen alot of 4000-6000sq foot warehouses selling for around $600k-$800k.
Personally i think i could save up and buy my equipment, but i would have to go into debt to pay for the building. But heres the thing....if rent was $75000 a year, why wouldnt i just buy - then in 11 years or so it would be paid off paying the same amount but i would OWN the building. Or i could go cheaper and get a 30, hell maybe even a 40 year mortgage for it. Then its like paying rent, but at the same time if i ever want to sell i get ALL MY MONEY BACK, and if i keep it. Even though i would be eady to retire i would still own it.


i think i can seriously do this!

[mancubuss]

a lot of owners of building won't sell it...they want to rent it...my dad owns a auto repair shop for 25 years and the owner wont sell, only rent

[NeverGymLess]

Easier to set u p a MMA gym and make the people pay $150 a month.

[alvnzed2]

its great idea dude go nd do it

[mkz93]

its great idea dude go nd do it

Are you fuking srs m8?
2007

[ProStylezEvo]

Tell me you didn't give up on your Dream Man..

[JustABeginner10]

Tell me you didn't give up on your Dream Man..

he laid down and rotted. srs

yes old thread bla bla bla

[Tune5k]

is it possible to even make a username like op has anymore?

[MacNZ]

Fuark, read this whole thread and only realised it was 9 years old when it was mentioned right at the end.

Hope OP made it lol

[Skimy]

I was wondering why everyone was being so nice to OP,


good ol' days

[CaliNoob]

Marketing is going to very key, but gyms are such a hit or miss business. A decent gym will probably cost anywhere between a quarter to half a million.

[fezjones]

Bout tree fiddy

[Kurial]

Always lol when people reply to OP seriously when it's been 7 years already

[zyzzprah]

20k-50k or less if u open a cross fit type gym which is just empty space and like 2 barbells lulz

[cocakola69]

Im 18 years old, soon to be 19 and am mad that i am just getting serious but this now.

How much do you guys think it would cost to open a gym in NYC? I live in the Philly suburbs at the moment and am currently in college getting a business degree - I HAVENT LEARNED **** FROM SCHOOL. Everything business wise that i have learned has been from owners of other gyms that ive been in over the years and i can find out even more as i will.

The degree i am getting isnt to open a business anyways...its because i am also considering being a cop but i need 60 college credits (could be any subject).

But here is my dilemma...i can stay in schooll for another 1 1/2 years and become a cop making top pay in the area of 60-85k, chances are more so around 75k AFTER overtime. But its something i will be doing because im afraid of a risk and its the "safe" choice. (My father is a cop and he says DONT BE ONE, but i am almost guarenteed a job)

-OR-

I can follow my dreams and take a risk. Open my own gym in the city i love (NYC - not manhattan, Queens or Brooklyn). BUT, here is the idea...since my dad is a cop, his friend can get me a job sometime within the next 6 months. So around the age of 19 i can begin working making some decent money and saving while living at home. Now if i save till im 22 (the same age as everyone else is getting out of college) i could have a nice little bank account to purchase gym equipment and the things i need, leaving the potential to get a loan for the actual building. Ill have to start building credit over the next few years aswell. HUGE RISK - but if theres any job i would rather do its be my own boss and own a gym and i was thinking - why am i not even going to TRY to get what i truly want in life?



SO what are you guys thoughts on this???


And more importantly, how much (guesstimate) do you think it would take to open a gym in NYC?





discuss

Hi, I'm in the same position as you are I mean concerning about opening a gym
I think we should share ideas to see if we can.
thanks. cocakola69@hotmail.com

[p100]

Don't forget about the legal aspects. Insurance, LLC, etc.

[iLiRaM]

way more than you can afford, pal