Financing Fitness: 3 Tips To Help Get Your Health Club Off The Ground

Americans are beginning to see the beauty of fitness. The number of jobs in the fitness industry is expected to rise by more than 23% in the coming decade, signifying a change toward health and physical wellbeing. With such a boom in the industry, it’s only logical that you would want to capitalize on the trend; by starting your own health club or fitness center, you can get in on the action while also contributing to the wellness of the nation.

 

As with most business enterprises, however, getting started is easier said than done. You have several factors to consider: where will you be located, what health club management systems will you be relying on, are you looking to focus on a specific aspect of health and fitness, etc. As the list continues, the obstacles pile up. Here are three tips to help you establish and open a health club.

 

  • Create a business plan. Whether you’re starting from scratching or building with a franchise, you need a solid business plan in order to progress. Develop an extensive list of all projected expenses for short- and long-term goals you hope to accomplish, and be sure to include strategies that will help you reach those goals. The more time and effort you put into developing a business plan, the more detailed it will be; the more detailed it is, the fewer surprises you’ll face along the journey.

 

  • Sort your finances. Every entrepreneur knows that you have to spend money to make money. Start speaking to loan officers at banks and financing companies to get the capital required to open your business. At the same time, it might be wise to seek out individuals that would potentially be interested in investing in your business venture.

 

  • Obtain insurance. Protect yourself from lawsuits related to accidents or injury that occur at your health club by pursuing a highly inclusive insurance policy. Additionally, be sure to look into government regulations that apply to insurance and health clubs.

 

Owning a business, especially one that you’ve built from the ground up, is no easy feat. Fortunately, if you’re dedicated and equipped with the right tools and know-how (such as effective health club management systems), the road to success will be smooth and easy. Figure out what kind of billing systems for gyms you’d like to use, determine your demographic, and get to work!