can anyone tell me the average monthly costs of running a gym.
Hi Kevin,
Here are a few more to add to your list:
-Unexpected legal issues/problems (you will need to have a lawyer on board)
-Maintenance for the equipment/facility
-Advertising/marketing/promotions/discounts
-Purchase of new equipment when necessary
-City, state, federal fees and permits
-Licenses to be able to use any music/songs, etc. for your gym (you might want to check on this)
These are few that come into my mind right now. There will always be hidden expenses when running any type of business and a gym is no different. I hope this helps.
Best,
Harris
If you are planning on taking payments for memberships and services, you will also need to factor in merchant vendors/payment gateway % and credit card terminal rent.
Also, depending on how you are going to set up your gym (front desk with staffed hours or 24 hour access), you will have to factor in the equipment and service fees.
If you are planning on selling any kind of merchandise, you will also need to look into a POS/Quickbooks accounting system.
Also, if you want to look into gym management software, you will have to find something that benefits your gym operations and then factor in those costs as well.
I wish you well. As Sue said, it is not easy. But being your own boss in the fitness industry is well worth it!
Best,
Lawrence
http://www.gyminsight.com
