I am trying to understand your set-up. You are describing it as private workout space. Is it a personal training studio? Is it a workout location in your private home? Do you have it set up as a business with the corresponding liability insurance and compliance with zoning laws?
It depends on whether or not it’s considered “prime time” or “down time”, it also depends on how many hours per week they wish to rent the space. I required a 2 hour per week minimum for my group exercise/dance class renters to be paid in advance with a security deposit.
For personal trainers it gets a bit tricky. The more hours they would rent the lower the price would be.
I charged $30 per hour for dance classes and $10-15 per hour for trainers.
Your location, parking, and your studio overhead will also make a difference when factoring price.
Remember to treat this like a business, they all need their own liablility insurance etc.
Let’s use the “kiss” system on this one…
Not knowing your square feet, location, operation hours, number of trainers/instructors etc..etc..
All the “gym/workout” space expenses will be your responsibility and your (certified-insured trainers/instructors) using your space could be charged a monthly flat rate or hourly rate as independent contractors.
Do your due diligence…
Wishing You Great Success!
Hi Joe. So many factors come into consideration when trying to develop a pricing model for your space. Just a few factors include your current monthly lease amount (or mortgage) on the space? How many trainers do you project using the space (are you limiting the number of trainers who you contract with)? And, how many trainers are you going to allow to use the space in the same hour? What is the going personal training hourly rate (you don’t want to charge so much that a trainer would essentially be paying out half or more of what they are charging their clients)?
These are just some of the things you should consider in determining your pricing structure.
I hope that this helps.