I was looking for a space for a studio when the city coordinator informed me that another personal trainer was looking to do the same thing. I was wondering if anyone has had experienced partnering up with another personal trainer on a studio (splitting rent, etc)? Or my other thought was to see if they would want to work under my business name since I am LLC already.
Any thoughts or experience would be appreciated. Thanks!
I have only done this one time in the past. It went fairly well for a while. The agreement was that we would split all expenses – rent, electric, and cam (common area maintenance) and we would split all cleaning duties. But within a few months I was working with about 15 more clients than the other trainer. He wanted to change the agreement. His reasoning was that I was using the studio more and should pay more. Which I felt had some validity as I was definitely getting the better end of the deal. But the agreement he wanted was for me to cover enough expenses for us to be making equal incomes. Which I didn’t feel was reasonable. I would have gone for a percentage of the rent equal to each of our percentage of clients. He didn’t think that was enough. I offered to pay more if he took on the cleaning duties and kept up with them properly. Which he said insulted him. Anyway, he attempted to strong arm me by refusing to pay his share of the rent at all. I told him I wouldn’t just let that slide if he did. A long story shortened, I went to the landlord/rental agent and agreed to take another space on my own if they would agree to terminate our lease for the other space. Which is how it ended. I haven’t tried to do that since.