Any IFBB Pros Interested in Opening up a gym?
First off I know this may not be the best place to post this, but its worth a shot!
I'm in WA st in a little area known as Skagit Valley. Its, believe it or not, growing faster then most areas are and its in the top 50 places to live in the nation. Problem is, there isnt a good gym for probably 50 miles. I've got a couple SOLID investors that would be willing to throw down a million each, but I need a REAL SOLID Backer here! A good gym will cost around 10 Million dollars. The Bank may load up to 6 million if 4 million could be put down. Then you need to have another 2 million in the bank to help pay the mortage payment for the first couple years until the place can become self sufficient. Wish I had the money to do this alone, but I dont! I'm willing to do whatever it takes to get a good gym here though. If anyone has any thoughts I'd love to hear em!!
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10-07-2007, 06:22 PM #1AdDiCtEd2IrOn
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Any IFBB Pros Interested in Opening up a gym?
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10-07-2007, 06:29 PM #2pron posts mod
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hey Luke, LoL
i may be wrong underestimating personal wealth and income in this section, but that is a ton man for most members on these boards.
did u try writing to the pros indidually on this site. even better yet send a pm to bob chick. he might have some ideas considering his experience and connections in the organization.
may even want to shoot an email to dorians franchise,temple gym,they are looking to grow.
a warning though, the thread might get moved elsewhere.
Last edited by LUKEDEICHER; 10-07-2007 at 06:33 PM.
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10-07-2007, 06:33 PM #3AdDiCtEd2IrOn
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LOL...I dont expect someone on here to be like "HERE MAN I GOT 6 MILL FOR YA!!" I just hope for some idea's...like what you said! Maybe I'll have to do that...Originally Posted by LUKEDEICHER
hey Luke, LoL
i may be wrong underestimating personal income in this section, but that is a ton man for most members on these boards.
did u try writing to thrpros indidually on this site. eeven better yet send a pm to bob chick. he might have some ideas considering his experience in the organization.
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10-07-2007, 06:34 PM #4Registered Foam Roller
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10 mil to open up a gym? how??
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10-07-2007, 06:35 PM #5AdDiCtEd2IrOn
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You think I need a lot more?!Originally Posted by BB/MISC
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10-07-2007, 06:36 PM #6Registered Foam Roller
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i thought it only costed like .5 milOriginally Posted by gymratluke
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10-07-2007, 06:38 PM #7Registered User
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that seems like a completely insane amount of money to open a gym.. You know people open fast food franchises for 150-250 grand right? Are you thinking about making like a 5 acre gym? lol
"The best activities for your health are pumping and humping" -Arnold Schwarzenegger
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10-07-2007, 06:41 PM #8Registered User
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Hey...you'd never have to wait to use a bench/rack >.>Originally Posted by DylanL
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10-07-2007, 06:50 PM #9AdDiCtEd2IrOn
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I'd like it to be on a good 5 acre lot so there could be a huge parking lot. Inside there has to be a world class mens gym. Atleast 4 squat rack, 4 benches, 2 Inclines, 2 Declines, 3 leg presses, Full pulley system, DB's upto 200lbs, ALL THE HAMMER STRENGTH Isolateral Machines, then the full spectrum of life fit machines. Then there needs to be a womens gym, cardio room, step/yoga/pilates room, full basketball courts, racketball courts, waveless 6 lane lap pool, aerobics pool, hot tub, sauna, steam room, daycare, juicebar, ect, ect, ect
There is just so many things that need to go into this, its gonna be SPENDY!!!
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10-07-2007, 06:53 PM #10Registered Foam Roller
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noo! you should just make it all out hardcore!! like metroflex!Originally Posted by gymratluke
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10-07-2007, 06:53 PM #11Registered User
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Did you try MD as well
"Don't allow success or failure in YOUR LIFE to depend upon the opinions, comments and/or affirmations of someone else."
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10-07-2007, 06:54 PM #12I lift, therefore I am.
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10 million dollar gym to start!? How about starting out small and expanding as you grow?
When you get to the top of the mountain, keep climbing
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10-07-2007, 06:56 PM #13AdDiCtEd2IrOn
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Eh, its not what this place needs...there are TOO MANT RICH ASS PEOPLE!! I'd would like to have a gym with two separate mens gyms though. One with Typical Rock music playing, one with METAL/ALT/RAP playing. The Hardcore one would be for using chalk, doin Oly lifting, slamming weights...Originally Posted by BB/MISC
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10-07-2007, 06:58 PM #14AdDiCtEd2IrOn
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Mark Dugale?! He owns the one gym thats ike 60 miles away thats fairly nice...Originally Posted by DaEagles4Life
Cause there are a couple other gyms, and if you wanna take all there members, you gotta have stuff that everyone wants, and no one else has...Originally Posted by Enso
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10-07-2007, 07:00 PM #15pron posts mod
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if u opened a metroflex immitation all you would need is a big hole in the wall building with tons of used weights and no air conditioning.Originally Posted by BB/MISC
probobaly open for a hundred thousand. just got to get some big names in there and money will roll in.
pay ron some retirement mula for a grand opening and you are set to go.
Keymaster of platinum accounts
DIRECT WORDS FROM THE CEO/HEAD CHEESE....
-Mods cannot do name changes
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-Mods can only neg, no agreeing with posts
In other words if you do not like what you originally called yourself, do not take responsibility of what you wanted to at one point type for the world to see, or desperately want green boxes - YOU ARE OUT OF LUCK.
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10-07-2007, 07:02 PM #16AdDiCtEd2IrOn
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Originally Posted by LUKEDEICHER
if u opened a metroflex immitation all you would need is a big hole in the wall building with tons of used weights and no air conditioning.
probobaly open for a hundred thousand. just got to get some big names in there and money will roll in.
pay ron some retirement mula for a grand opening and you are set to go.
That would be cool! One of the guys who wants to invest would be down with something like that...the other guy is older, and just wants a really nice club in town.
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10-07-2007, 07:18 PM #17Registered User
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luke, if you've got that kind of money, franchise one of these.
http://www.lifetimefitness.com/membe...FSV4UAodixsYug
there's one by my parents house and it's absolutely amazing. everything. absolutely everything.oh and gecko that link did not contain answers only the search page - swiftness_02
The foods that trigger ketosis are high in carbs, not sugars - michaeldude
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10-07-2007, 07:20 PM #18AdDiCtEd2IrOn
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DAMN!! I like that...Originally Posted by gecko2424
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10-07-2007, 07:23 PM #19Registered Foam Roller
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YEAH id go to the hardcore sectionOriginally Posted by gymratluke
Eh, its not what this place needs...there are TOO MANT RICH ASS PEOPLE!! I'd would like to have a gym with two separate mens gyms though. One with Typical Rock music playing, one with METAL/ALT/RAP playing. The Hardcore one would be for using chalk, doin Oly lifting, slamming weights...
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10-07-2007, 07:31 PM #20Registered User
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you must be lookin to open up the biggest gym in the UNIVERSE...10 mil? u gotta be nuts....why dont you talk to golds gym and tell them your interested in opening up a franchise...also i doubt theres many pro's out there with that kind of money to throw at some random guy from a message boardOriginally Posted by gymratluke
if i was gonna throw down a million dollars i would want to see a 10 yr financial plan and strategy for this mega gym u plan on building<HTC>
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10-07-2007, 07:31 PM #21BrB, GeTn RipPd
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lol...Originally Posted by gecko2424
it's like the gym country club
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10-07-2007, 07:33 PM #22AdDiCtEd2IrOn
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^^^^Originally Posted by gecko2424
That would cost 10 million dollars!Originally Posted by GYRO
Golds wouldnt cut it.
Its not like they'd just cut me a check! lol
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10-07-2007, 07:36 PM #23W I D E Back
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I work the desk at a gym, and no way is it going to cost 10 million bro. We have ALL of the equipment that you mentioned, and it was only about 500k for everything. We even have bands, chains, Texas deadlift bars, belts, wrist rollers, and dip belts. (I know this because I say this in my spiel all the time). The building and lot that we're on costed a little over a million and it's more than enough room for all of our members to park. We also have a basketball court, individual bathrooms with showers, cardio stuff, a sauna, and an outdoor weightlifting area with a sand obstacle course. You must also remember, this is the owners 3rd building, meaning he had 2 smaller and less expensive ones before this. I guess you could spend 10 mil, but you'd have to try pretty hard.
If you wanted somethihg more "hardcore" you could open up a place like metroflex for dirt cheap. It's basically a ****hole with third hand equipment and a decent sound system where anything goes.
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10-07-2007, 08:11 PM #24Registered User
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lol didnt mean to come off as a douche my badOriginally Posted by gymratluke
<HTC>
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10-07-2007, 08:15 PM #25Registered User
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I work out a lifetime the dbs only go up to 150. But yea they are really nice.Originally Posted by gymratluke
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10-07-2007, 08:37 PM #26AdDiCtEd2IrOn
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lol...its all good!Originally Posted by GYRO
What are the monthly dues if ya dont mind me askin...Originally Posted by dawona
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10-07-2007, 08:56 PM #27Ferveo, Validus, Scientia
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5 acres in a commercial district is going to cost you. And something of the magnitude you described, will likely elevate the price.
Problem you have is certainly that you're not going to be able to attract any pros. By revealing yourself here, you've given a good indicator that you probably don't have a strong business background. No offense... I understand how exciting it is to start a new venture, and you want to get out there and make contacts. This just is really not the best way.
Fortunately for you - you don't need an IFBB pro. You just need plain old investors.
My suggestions:
- Contact someone about a franchise. In fact, contact several companies. Speak with them. Don't sound tentative. Make them believe you have the funds and are investigating your options. Get them to pitch you, and let them tell you as much about the business as you can. Take notes.
- If you're not a seasoned business person, recruit an operations manager. They don't have to be someone with experience in running a gym. Any person that has experience running a business where people come and go should be fine. But they should work out to understand the lifestyle. Forget about partnerships. You don't have to give it away. You want someone you can fire. You lure them by offering a competitive salary that beats what they're making now, with a bonus system if they can help exceed your annual revenue targets. You'll find out that your *team* will be one of the biggest factors in really securing the funding and making it a reality... this is true for angel, venture, banks, and all types of investors.
- Put a business plan together. If you go in cold without any information to back up your plan, you're dead in the water. We all know the idea you have is great. You have to prove that it will be a profitable venture. What I really recommend is that you put together a rough plan, and then secure about $10,000 to hire a consultant (such as KPMG) to do some market research and develop a professional plan. Take that plan to your investors. Note: You can also get your investors to front the cash for this if you have a good relationship with them in place already.
- Tip: Get some female trainers committed to joining you if you get off the ground. Make them attractive - and find a way to get them in any meetings or pitches you have with investors. Make sure you focus on male investors, and secure a male banking representative (for all banks you visit). And for you, wear a suit. The gym is for meatheads, but they're cash is for business professionals. So play the right role and don't try to impress them with your muscles.
- A franchise route is a much lower risk to banks/investors. They don't have to trust "your" business plan. They know you'll be following a turn key, and (likely) proven business model. You'll have to pay the premium for the franchise fee, but it will come with brand recognition and a lot of know how. Investors will pay for having their risks, minimized.
- If you're going to try to go independent, securing a piece of land with lots of space is great, because you can expand later. I'd have about 3-4 scenarios to present investors, ranging from minimal to best case scenario of what you want to do. Try to keep the BCS realistic - but pitch them on that first, then scale back as you run into objections. If you show revenue growth once you get started, you'll be able to secure additional capital to add on... if you can show that their will be a return on investment. An investor only wants to spend as much money as is required to get maximum returns, with minimum risks. They won't have much interest in adding a juice bar if it's not going to add revenue.
- Ever think about finding an existing warehouse or similar building available for sale that could be retrofitted?========================================================
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10-07-2007, 09:03 PM #28Registered User
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sound like a Bally'sOriginally Posted by gymratluke
(jk)
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10-07-2007, 09:06 PM #29W I D E Back
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That's what the owners of my gym did before they could afford to buy their own building. Rented out a large sized unit in a shopping strip, gutted it, and used it with good success. At least that way there's a little bit less investment.Originally Posted by hybridx
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10-07-2007, 09:08 PM #30Ferveo, Validus, Scientia
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Same with my hometown gym. Moved into a warehouse. It didn't have all the bells and whistles, spare a few tanning beds (if you consider those perks). But it had a huge array of good equipment.Originally Posted by bigboy15
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100% Natural - Now that's hardcore.
========================================================
STATS: 30 || 5'9" || 213.0 || BF20% || Endo Meso || Bench [MAX 315@2]
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- ECDYSTEN Log: http://forum.bodybuilding.com/showthread.php?t=799981
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