I am thinking of starting a business. I would provide the space for personal trainers to bring their clients and the space for group fitness instructors to bring their classes and equipment for both. The folks using the space would rent the space from me. This would alleviate much of the start up costs for a new business. But how do I find the PT’s and GFI’s in my area in which to market this business?
It seems so glamorous to “own a studio”. I have watched many studio owners regret this decision once reality set in.
It’s not a money maker, it takes a ton of work, you have to really know business and numbers, assume liability, have top notch trainers, equipment, original ideas, be ready for any and all emergencies, absorb unforeseen costs to name a few.
Even if you are only going to rent to trainers, you still have to maintain the space, make sure they pay on time, make sure they are reliable, and they honor their contract, etc. If they are true independent contractors, they are required to bring in their own equipment and have liability insurance.
Regardless of your business model, you will still have start up costs.You will need a business license, you will have to pay for over head things such as gas/electric, plumbing issues, your own liability insurance etc.
I would really think about this. Check out your competition
Harris has a ton of experience I would really listen to his comment above.