Using the fitness industry to keep your account fit
We are a fat generation! I know that sounds brash and inappropriate,but it’s the truth. According to WHOs STEPwise survey conducted in 2015, the mean BMI for Kenyans was 23.51 that represented 31%of the population. The study also showed that married women living in urban areas with high education are more likely to be overweight compared to their counter parts in the rural areas. The good news is that the urban women are in the healthy living craze, and they have some money to spare. Essentially, they are a ready market waiting for you to set up a gym and capture their attention with weight loss programs. The fancier the better! So how should an entrepreneur cast the net to capture this market?
Get into the Training Camp
You need to have articulate fitness skills; therefore, training is vital for the start. A certified trainer should train those without the know-how. One can also hire a gym trainer to help in running the day-to-day activities of the business. Getting into the fitness business requires that you are fit first! Have you ever seen an overweight or fat gym owner? You are your best model, show your market what your equipment can do
Write Down A Business Plan
A business plan is vital for a gym’s success since it gives directions that a business should follow. Outlines of the business plan include; start-up capital, equipment to be bought, rent of the premise, and so on. A business owner should also have a marketing plan in the business plan.
Location of the Business
You will be required to choose a suitable location for the business. A less noisy and secure place are some of the critical ingredients of the rise and rise of the company. High-income areas, sites with high human traffic, and residential places are ideal for thriving. Ensure that your location has ample supply of water and fresh air. Hygiene is one of the most important factors that clients consider when choosing which gym to join
Acquire all Licenses and Business Permits
A gym should be compliant with the government authorities. A business name that is fully registered to make the brand more visible is vital. A business registration certificate comes along after coming up with the name. On the other hand, a county government business permit paid annually is crucial for the business to comply. Consider getting certification from renown fitness programs. It boosts the credibility of the gym.
Purchase Gym Equipment
The main reason why people join a gym is because of the training equipment. Your gym should provide equipment to exercise the whole body. When you are starting feel free to get innovative with the equipment by providing exercises that do not require sophisticated equipment. However, at the minimum your gym should have the following equipment:
- Treadmill
- Training bench
- Stationary bicycle
- Kettlebell set
- Rowing machine
- Fitness ball
- Barbell set
Depending on space availability, demarcate studio space for aerobics, yoga, martial arts or other specialized exercises. This is makes your gym have variety of workouts and creates new income streams for the business.
Business Insurance
Gym businesses need to have an insurance policy that can compensate clients in case of injuries. The insurance also covers theft, fire, and breaking down of the gym equipment. Researching the best comprehensive cover which ensures everything is vital.
Marketing of the Business
You cannot ignore the significant era of social media, where many subscribers flock daily. Use different social media platforms to make gym business more visible. One can take pictures of other clients during yoga, aerobic, or treadmill sessions with clients’ consent. Later on, they can be uploaded on social media to attract more clients. Sticking of posters can also be done in residential places or market places.
In conclusion, it will cost KSH 500,000 to start a medium-sized gym. Challenges of the business include the high cost of rent and gym equipment. It is profitable if well marketed on different platforms. Take time to decide whether to hop into the business or not; everything good takes time.