Think somewhere between $10,000 for a personal studio to $50,000 for a fully-equipped commercial gym. Be sure to shop around—and keep in mind you can often get a discount if you purchase the equipment in sets as a complete package. Certifications having a professional, certified staff is a big plus.
How much will it cost to make a gym?
Depending on the location and size of your space as well as the kind of equipment you choose to buy, starting a gym can cost anywhere between $10,000 and $500,000. If you want to go all out and invest in a Gold's Gym level facility right from the get-go, you better be prepared to pay a 6-figure number.
Is opening a gym a good investment?
Gym ownership doesn't normally come with a fixed salary. Your earnings are dependent on your profit, how many hours you're willing to put in to keep staffing costs down and how much cash you want to reinvest in your business. The good news is, if you run a profitable gym, your salary is really up to you.
Is owning a gym franchise profitable?
The bottom line is, gym franchises are profitable. Their business models are designed to generate a steady stream of income in the long run.
What is the success rate of opening a gym?
In the ultra-competitive world of health and fitness, where less than 50% of new gyms and fitness centers are expected to survive beyond the first 5 years in business, Jim Thomas has many answers to questions most gym owners don't even know to ask.
How much money can you make owning a gym?
After a year, a successful gym will generate at least $20,000 per month. According to the AFS 2016 Marketing Best Practices Research Report, a typical small fitness center in the U.S. makes $63 per SqFt., or up to $200,000 to $300,000 per year. Larger gyms can make up to 10 times as much money.
Is opening gym profitable?
How much profit can a gym make? Revenue and profit varies by size. However, it's typical for a gym to generate between $1,000 and $2,000 a month in revenue within the first 6 months. After a year, a successful gym will generate at least $20,000 per month.
Is a gym a good business to own?
In fact, while there is massive potential in owning a fitness business, 8 out of 10 of them will fail in their first year. However, if you manage to clear the first-year hurdles, you will come out the other side a stronger person and better entrepreneur, way more able to handle whatever gym ownership throws at you.