How much does it cost to open a gym ?

Make no mistake, the initial costs of opening a gym aren’t cheap. However, your wellness venture may or may not need to consider every item on this list, so feel free to pick and choose the applicable items and add them to your worksheet.

• Physical location – this cost will vary greatly depending on desired size and location of your gym, as well as your decision to rent or purchase the building. Aside from space for weights and machines, you may wish to include space for cardio, yoga or spin classes. Additionally, you might provide locker rooms, showers or a sauna. You can easily spend up to $800,000 if you want to own the space outright. As a rule, always do thorough comparative research on commercial spaces in your desired area.
• Gym equipment – this cost similarly has a large range, depending on the amount and type of equipment you want. 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. Accreditations for personal trainers can range from $500 to $800 per certification. Some certifications to explore include: American Council on Exercise (ACE), National Academy of Sports Medicine (NASM), International Sports Sciences Association (ISSA), American College of Sports Medicine (ACSM) and National Strength and Conditioning Association (NSCA).
• Licenses and permits – individual localities define the standards for which licenses and permits you'll need. Be sure to look into a business license and any required health and safety compliance permits as well. Costs will vary across the board, but keep in mind that proper licenses and permits are necessary.
• Legal and processing fees – you may need professional help negotiating your lease, closing the property sale, or just muddling through the necessary licenses and permits for your gym. Expect to pay around $200 per hour for these services. Fees vary depending on which legal documents you’ll need (Certificate of Incorporation, Business License, Business Plan, Non-disclosure Agreement, Memorandum of Understanding, Employment Agreement, Operating Agreement, etc.), but expect to pay an average of $9,000 to get everything squared away.
• Insurance – insurance is a legal necessity, especially important for a gym. You’ll need general liability, workers’ compensation and a surety bond as a bare minimum. Expect to have around $12,000 in premiums here to start, though rates will vary based on different factors (such as franchise situations).
• Building improvements and remodeling – this cost may or may not be necessary for you and varies on an individual basis. You’ll at least need to do what it takes to get the building up to code if it isn’t already. Just keep in mind that remodeling costs add up quick, so don’t get carried away.
• Computer network and POS system – you’ll need to be set up with an Internet network and a point-of-sale system to accept modern forms of payment, as well as proper gym management software to ensure things go smoothly. Depending on which provider and level of hardware you choose, you'll need to spend $550 to $2,300 annually and typically twice that amount to get started.
• Signage – Here’s an opportunity to get creative. Proper gym signage can be provided for as low as $20, though you could easily spend much more.
• Employee uniforms – this is another cost that is entirely up to you. You generally want some uniformity across staff wardrobe, but for a gym, simple workout clothes and company logo shirts are typically the norm.
• Miscellaneous gym supplies – customers will expect the availability of some basic supplies, so you should have towels, chairs, etc. on hand. Expect about $500 to get set up.
• Merchandise – don’t overlook a great opportunity to offer customers supplies and merchandise. Think t-shirts, supplements, protein shakes and powders, water, etc. Make sure you budget in the cost of the initial stock.
• Advertising – you’ll want to announce your arrival to attract potential customers. You could spend $5,000 to run a robust, more traditional ad campaign or go guerilla and plaster signs in high-traffic areas to recruit.
• Responsive website – every modern business needs a web presence. Expect to pay $300 to $700 for the initial build.
• Operating cash – you’ll want some working capital and cash reserves for normal business operations. We suggest having at least $1,000 on hand.
  
  
  

1. Don’t skip the training and accreditation. As a fitness professional, your clients look to you as an authority, so make sure that’s the truth. Proper training and accreditation is key to the success of your clients’ goals and therefore the success of your gym as a business. You aren’t serving your clients or yourself if you and your staff are not properly trained. Accreditation in niche or specialty fitness markets is also a great way to set your gym apart from competitors.
   
   
2. Don’t begin without a client base. If you’re considering opening your own gym or fitness center, you most likely already have a number of clients. A gym is a tough business to start from scratch, so you really want to make sure you have a sustainable number of devoted clients who will become members. If you don’t have any sure clients at the outset, don’t invest in opening your own gym at this stage—work on building your client base on a smaller scale.
   
   
3. Don’t skimp on equipment quality. Across the board, you want to make sure your equipment and facilities are up to snuff—if not for your members, then for your own bottom line. Gyms take a lot of abuse and going cheap on flooring will cost you more in the long run when you have to replace it. Buying used machines may be less expensive at the time, but you’ll sacrifice access to the full manufacturer’s warranty coverage, as well as up-to-date technology to best serve your members.
   
   
4. Don’t surprise your neighbors. There’s going to be some noise. Weights will be heavy, music will be pumping, machines will be whirring—even downstairs neighbors to a zen yoga studio will hear some thumping. If your space is connected to or within earshot of others, you’ll want to be fully upfront about the inevitable noise with your landlord and/or neighbors. The last thing you want is for your business to have a negative impact on its surrounding area, so make sure you clear this issue early on.
   
   
5. Don’t forgo gym management software. Your gym must operate smoothly and efficiently. A lot goes on behind the scenes with each membership. Sophisticated software to handle check-ins, billing schedules, membership renewals, day-to-day scheduling and various other administrative tasks may not be cheap, but it’s worth every penny. Remember, automation is your friend.