Gym Business

A gym business in one way or another is decidedly part of show business. Making the client feel good and look good is very much a part of the endeavor. The gym is typically placed within the hospitality industry.

According to Oxford Dictionary, hospitality stands for a “friendly and liberal reception of guests or strangers”. Indeed, the chief endeavor of the gym is to be friendly and helpful in terms of fitness services, offer desirable work out atmosphere and food as tangible products, and clean rest rooms and spacious corridors for comfort. The concept of a gym was one of “temporary abode”; a place to burn those excess body fats. The business domain of the gyms appeared to be a fusion, an amalgam between the hospitality industry and show business.

The General Manager of a gm must know the basics of managing gyms. Management is characterized of the process of leading and directing all or part of an organization through the deployment and manipulation of resources. Functionally, it is an action of measuring a quantity on a regular basis and of adjusting same initial plan and as the action taken to reach the gym’s goals. From this perspective, five functions of management are identified. These functions are planning, organizing, leading, coordinating, and controlling. As the general manager of the gym, he or she constitutes these five functions.

Strategic planning is one specific type of planning. In the strategic plan, the present status of the gym business can be identified, future plans can be formulated and strategies to be able to accomplish the future plans can also be identified. With the gym’s problem, strategic planning can be used in order to identify possible strategies and make necessary changes.

On the other hand, organizing is establishing the internal organizational structure of the gym business. The focus is on division, coordination, and control of tasks and the flow of information within the gym. Moreover, managers distribute responsibility and authority to job holders in this function of management. In order for the gym to have organized functions, the General Manager should have good organizing skills. It should be realized what organization style the gym needs. To be more specialized, the gym should decentralize the management making each division more accountable for their actions.

Leading includes setting direction for the gym, groups and individuals and also influence people to follow that direction. Leading function establishes strategic direction such as vision, values, mission and /or goals and championing methods of gym performance management to pursue that direction. A leadership skill is very significant in a gym in order for it to run smoothly.
Lastly, controlling is a four-step process of establishing performance standards based on the gym’s objectives, measuring and reporting actual performance, comparing the two, and taking corrective or preventive action as necessary. Moreover, it includes checking the gym’s systems, processes and structures to reach effectively and efficiently reach goals and objectives. This includes ongoing collection of feedback, and monitoring and adjustment of systems, processes and structures accordingly.

In constructing the gym floor plans, there are certain laws and various regulations and standards in that must be taken into account and followed. These basic rules are the generally accepted technical rules for construction.

These laws and regulations are designed to ensure safety during and after the construction of the gym floor plans and to protect the gym against damage and defects. The gym must be constructed in such a way that the public who will go to the building as well as the structures within the vicinity of the building will be safe. Regulations are also enforced to guarantee the owner of the gym that the building will be profitable for him in the long run.

Fire protection and security are the basic concerns of many gym floor plans. The gym should be designed and constructed in a manner that all the people inside can leave the building without the risk of injury and at the shortest possible time once a fire breaks. Generally, it is a standard for gyms to have a floor plan with escape routes and fire escapes, fire compartments and with the choice of material. Operational security concerns the safety of elevators and escalators, stairs, railings and parapets and the installation of emergency lightings. Regulations for operational security also include the alarm system for carbon dioxide in underground parking lots; and the non-slip nature of floor in traffic areas, sanitary rooms and kitchens.

Stability and construction physics are also major concerns in standards and regulations for gym floor plans. Stability of the gym depends on how the building is designed and constructed. The gym floor plans and construction methods are governed by these regulations; gym floor plans which include stability calculations and material properties and specifications are checked by authorities and should passed their standards. Demonstrations of the internal structural strength of the construction and safe transfer of loads to the subsoil should also be practiced to determine the allowable maximum load that the gym can withstand.
The cost of construction of a gym ranges to roughly a million dollars. It is very rare that an owner can afford the costs without outside assistance such as banks and other financial institutions. Sources of capital to finance the construction of the gym floor plans depend on the type of low-rise. Financing of the gym floor plans depends on what type of gym business is going to be established. Basic sources of capital can be through equity finance, debt finance or internally generated funds.

Cost of construction of the gym depends on the nature, size, location and management organization of the project. Project managers and designers such as the architect and engineer should realize that the costs are only estimated values and may vary depending on the changes, schedule adjustments and site conditions.

Capital cost for the gym floor plans includes:

• land acquisition, including assembly, holding and improvement
• planning and feasibility studies
• architectural and engineering design
• construction, including materials, equipment and labor
• field supervision of construction
• construction financing
• insurance and taxes during construction
• inspection and testing
• owner’s general office overhead

In the first quarter of 2006, a staggering 41.3 million people signed up for a health and fitness club membership throughout the United States, increasing the Health and Fitness Industry annual revenue by up to $1.1 billion from the 2004 total of $14.8 billion. This is, no doubt, a desirable market and everyone wants to take part of the Health and Fitness gold rush.

So you are thinking of starting your own gym business, however, you are not sure if your finances are adequate to afford this endeavor and you are just not sure if this gym business is worth the risk. Well, if we have described the same scenario that you are currently experiencing, then do not hesitate to read below. We will provide you what you need to know regarding basic gym business cost.

Since a gym is a brick-and-mortar business model, you must have the budget to buy or lease a property, unit or space wherein you will build and operate your gym business. The cost here will vary and it will be limited only to the amount your willing to spend. A leased property will be good for startups; but if you have the money anyway, why not purchase the property. If you might have to use your exit strategy, hopefully never, then you can use the property you bought for other business endeavors. For small-scale business plans with low funding, we suggest that you put up your gym in a place that you already own, like your home. However, you must first check if your residential area allows commercial services to be established.

Now, a gym should have equipment. Most of the gym business cost is allocated for equipment and, again, it will depend on your budget. If you are a startup with low funding, you need equipment that can target many muscle groups at the same time, like treadmills or upright bikes for cardio and leg muscle workout. A small-scale gym should opt for home gym equipment rather than commercial equipment that are expensive. However, expensive equipment can target more muscle groups and it has more features such as foot bars that accommodate any user height.

The home gym equipment essentials are adjustable dumbbells, Olympic barbell sets, adjustable bench with leg attachments, adjustable squat rack with chin up bar, dip station and standing calf raise machine. You can also purchase e-z bars or the famous exercise ball for abdominal crunches. But if money persists as an issue, then we suggest that you buy used gym equipment instead. This will ensure a lower gym business cost.

Lastly, hiring an excellent staff will contribute to the success of your gym. Your staff must be knowledgeable in health and fitness training such as kick-boxing, strength training, or aerobics. We suggest you hire personnel that can do both personal training and rank and file jobs as well, so you will have less staff to pay every month. But if you can do it in your own, then that will lessen the gym business cost.

To sum it all up, in every business endeavor you must draw out the most suitable business plan that reflects your current status in life, your track record, your finances and all the related research that is needed for any business to come about success. But most importantly, you must decide to be in this effort for the long-run. Even if we have drawn out an exit strategy in our business plan, no one really likes to experience bankruptcy. So your dedication and hard-work coupled with the proper management of your gym business, it may not be long until the revenue of your gym will outweigh the startup cost of your gym business.