A Strong Industry
With the American gym market bringing in just under $31 billion a year, there are lots of fitness enthusiasts looking to jump into this booming industry. Helping people achieve their fitness goals can be a gratifying experience while also being quite profitable. There are many things to take in to consideration before starting a gym. Type of gym, location, insurance, gym equipment to purchase, hiring trainers, and more! Read below as we briefly address a few of those many items.
Types of Gyms
People are getting creative with how they choose to exercise. Nowadays you have options. Pilates, Crossfit, Bootcamps are just a few of the different types of gyms people are going to several times a week to get in shape. As a result, fitness enthusiasts are drifting away from the traditional “mega” gyms in search of more variety with more of a community feel.
Hiring the Best
The hiring of trainers is also an essential element of starting a gym. This can be on the same level of importance as the equipment you purchase for your gym. Their knowledge and enthusiasm can influence your members to achieve goals and position your gym to compete with other top gyms. Likely you will need several trainers to provide assistance to your members throughout the day.
Getting the Most out of your Gym Equipment
You need to fill your gym with equipment that will allow your members to perform a variety of exercises and movements. Many pieces of equipment are universal and will work for all members. This includes equipment like treadmills, reformers, and rowers. Then there are other pieces of gym equipment that are weight specific. For example, dumbbells, kettlebells, and weight plates have a range of sizes that need to be purchased to accommodate all members of your gym. Additionally, there must be enough equipment to accommodate the volume of attendees. Lastly, gym equipment can vary in quality and is constantly improving as new models are introduced. You will need to remain current with the latest gym equipment to compete with other gyms in your area.
Leasing exercise equipment is becoming more popular in the industry. The ability to upgrade will help your gym from suffering from dated equipment. Having the newest exercise equipment will encourage potential clients to join your gym. This is why a fitness equipment lease is ideal when you are thinking about starting your gym.
Lastly, think of the wear and tear gym equipment faces. As you probably have noticed from stepping into gyms, the equipment takes a beating. Weights are dropped, equipment sweated on, and excessive miles on treadmills are just a few things to consider.
Financing Your Gym Equipment
Providence Capital offers flexible financing solutions that can help you get your gym up and running in very little time. You could be approved within 24 hours. We offer flexible financing options for your gym equipment even to those with bad credit. With an industry high 94.1% approval rating, we encourage you to fill out an app to see how Providence Capital can help you get your gym started as fast as possible.
If you are ready to get started on opening your own gym fill our equipment lease application to get a free quote.