Getting fit, losing weight and living a healthy lifestyle is a priority for many of us. From new diets to innovative exercise regimes, we all want to find interesting ways to be active. If you’ve got an interest in exercise or personal training and want to turn that expertise into a business, then opening up a fitness-based business could be right for you.
You’ve got plenty of choices depending on your budget, target clients and ideas for marketing your gym or personal training venture.
The question is, just where do you start? Here at Incfile, we know the answer, and we’ve shared it with more than 100,000 people who we've helped to form their businesses. Since 2004, we’ve supported gym, fitness or personal training entrepreneurs just like you, and we’re proud to have been a part of the healthy lifestyle business revolution.
From validating your business and doing the research to filing your paperwork and running your business, this guide will help you out. We’ll talk you through the main things you need to do to get your fitness business off of the ground.
Read on for some insight into creating your own gym, fitness center or personal training business and becoming an entrepreneur. In this guide we will cover:
Although it can be exciting to form a gym or personal training business, there will be significant demands on you as a small business owner. Here are some of the things you can expect.
Here are some of the typical tasks you’ll be performing for your business on a daily basis.
The following skills will be very useful in your role as a fitness-based small business owner.
Although many people have the same basic needs from a fitness business — losing weight, building endurance, getting stronger and improving general health — your clients' needs can vary widely beyond that. Think about the types of customers you’re appealing to:
The key is to meet the various needs of each type of member. They will want a place they can go where they trust the trainers, have access to the latest equipment and are able to achieve their personal goals.
There are lots of different options for the type of fitness business you can start. We’ve provided several suggestions below.
This would be your standard type of gym. You will likely have standard fitness equipment like cross trainers, stationary bikes, rowing machines, treadmills, resistance trainers and weights. You’ll also probably provide fitness classes in special rooms and event spaces.
This type of gym might focus on specific types of training. For example, you might have a gym dedicated to weight training or endurance training, with equipment designed to achieve focused results.
Many gyms have very expensive monthly membership fees. You might choose to go another direction with more basic equipment and a lower fee. Rather than having monthly memberships, you might even go with a “pay-as-you-go” approach.
This type of business may focus on fitness-related activities that help maintain health and well-being rather than a relentless focus on getting fit. This could include activities like yoga, Pilates, dance and similar approaches.
If you don’t want the considerable expense of opening a gym, you might decide to go down the personal trainer route. You have several good options:
You’ll need the right skills and experience — and if you don’t want to go it alone, there are plenty of franchise opportunities available to personal trainers.
Remember, the ideas above are just a starting point. You can define and tweak exactly what type of gym, fitness or personal training business you want to run through conducting your own research.
Every fitness-based business will have many competitors, and you need to stand out — you should deliver superior fitness classes and excel in your chosen area. Here's how:
Not every idea you have will make it through to becoming a gym, fitness or personal training business. There are all sorts of reasons to say “yes” or “no” to specific businesses, so think about what your strengths and weaknesses are so you can choose a business you’d be great at.
Gyms and other fitness businesses have lots of moving parts and administrative needs. If you want your business to be a success, you need a solid business plan.
You will need to define how you’re going to run your gym, fitness or personal training business, market yourself, sign up members, collect fees, provide services, buy equipment, make a profit and grow. This can only come about through creating a watertight business plan. It will help you get your thinking in order and show your commitment to your fitness or personal training business.
You will also need to look carefully at financial projections for your fitness business. What are your expected member counts, dues, sales and revenues? What is your profitability? How much money will you keep in the business to grow it? How much will you pay yourself and others?
Business plans do vary slightly, but they should all cover the following areas:
There are five main business structures you can have in the U.S., and it’s important to choose the right one. We’ve shared your options below. They are:
If you don’t choose to form a legal business entity for your gym, fitness or personal training business, you will be a sole proprietor by default. This won’t give you the legal protections you need, so we do not recommend this.
Similar to a sole proprietorship, if you go into business with someone else without forming a legal business entity, you will be treated as a partnership. This doesn’t give you limited liability protection, so we don’t recommend it for your gym or personal training business.
As the most common type of business entity, an LLC is fast, simple and inexpensive to set up and maintain. It protects your personal finances and assets and is a great way to start your personal training or gym business.
This is a more complex type of business and isn't generally recommended for smaller organizations.
These are the largest and most complex types of businesses and are typically far more than the average fitness entrepreneur will need.
Once you've legally created your gym, fitness or personal training business, you’ll need to get some other things in place.
If you’re running a gym, the location will be vital. You’ll need somewhere that’s easily accessible, with enough space for all the equipment you’ll need and classes you want to run. These types of spaces can be hard to find, so engage a commercial real estate agent who can provide options for renting and leasing space. Remember to take into account specialized needs like flooring for classes, reinforced areas for weights and multiple power points for fitness equipment.
If you’re running a personal training business, you’ll have more flexibility. You may be able to rent a hall or event space when you need it for classes, or work with a local gym owner to provide services at their location. Some personal trainers may choose to provide classes in the great outdoors, but beware of weather changes.
One of your main expenses for your gym will be fitness equipment. You’ll need special training devices for cardiovascular workouts like treadmills, rowing machines and cross trainers. You’ll also need other equipment like weights, balance balls, resistance machines and much more. Don’t forget to budget for all your fixtures and fittings, together with computer equipment and entertainment systems to keep members happy while they work out.
As a personal trainer, you’ll need far less equipment. Your exact needs will vary depending on the type of training you offer, but you will at least need some good sets of gym clothes and shoes, a mobile device to track signups and schedules and a reliable mode of transportation.
Marketing will be a huge part of your gym, fitness or personal training business. Naturally, you will need an awesome website, but you'll also need to get branding, newsletters, digital ads, social media accounts and other channels in place.
The right software and processes will make running your gym, fitness or personal training business much easier. See our list of the best apps and software at the end of this guide.
If you’re a personal trainer, you probably won't need to hire anyone else. If you’re running a gym, it’s likely you’ll need to take on some staff to help you with administration, providing fitness classes and other tasks.
You will need a separate business bank account for your gym or personal training business. You might also want to consider a business credit card. Additionally, you will need to keep careful bookkeeping records and file business and personal taxes. Here at Incfile we can even help you file your taxes.
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