3 December 2009, 7:39 pm
I live in Warren, MI. Lots of fat people here, so not sure if anyone will join, but I would think that if there were more smaller neighborhood gyms that there may be a market. There used to be a World's Gym near my house that did very well, until a car dealer bought it and tore it down to build yet another parking lot for cars that don't sell. The old gym was torn down about two years ago. I am looking at a corner building across from a 7-11 on a main road near bus stops, flower shops, etc. The building is listed for 175k but the Flower shop owner thinks I can probably get it for under 100k. I've yet to perform full due diligence, so I really do not have info on set costs such as water, heat, insurance, taxes, etc. Any gym owners, former gym owners out there with any advise? The economy around here is sour, but I think I may be seeing a niche. The only other gyms around here are located at a community center 5 miles away and there is an LA Fitness 3 miles away and a Ballys 3 miles away. I'm looking at something small; more of a nighborhood gym like you might see in a boximg movie like Rocky...not a big fancy "where all the beautiful people go" meet market., Three treadmills, a couple Nautalis machines and mostly free wights. I would hope to make most of my money from selling supplements, vitamins, creatine, etc. PROS: would replace niche vacated by previous gym that was torn down high traffic area public parking building might be affordable and easy to convert into a gym very close to where I live, wouldn't even have to drive there have some gym equipment already and experience with sales and how gym memberships work CONS: In a poorer area- higher crime area Unsure of potential clientel Only ran a lawn service before, never ran a brick-n-mortal business (no retail experience) People around here would rather have a fried chicken then a sweaty workout (can that be changed?) Unsure of capital costs for commercial gym equipment. Another thought I had was to negotiate with a local hotel to advertise and sell memberships to their hotel gym to people who live in the area-- I can sell and keep track of members and maintain the gym area, but it will still be open to their guests for free.... Any thoughts or suggestions?... Read More »
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