I have an investor who is willing to fund me opening up a gym what are some of the cautions i should be concerned with in regards to that. What things will i need to have in place so i make sure that my gym and business run itself.
if someone who has done this before is interested in taking me under their wing to help me learn this process than i would be very grateful!
This is a huge opportunity for me and i want to make the most of it so please help!
If you want your gym to “run itself”, you need to invest in a good gym management software.
I would suggest that you find an all-in-one solution for your gym, as opposed to managing tonnes of different systems!
Take Glofox.com for example, an all encompassing gym management software. Instead of having to work around multiple different systems for payments, booking, membership management and reporting etc, Glofox handles it all under one simple Dashboard.
You can find out more about Glofox here
I hope this helps,
Here are a few good websites that have excellent resources that prove useful.
All these publications are catered towards gym owner and investors. I strongly suggest you check them out and read some publications/blog or evn attend a few trade shows to get a feel for the industry before going all in.
This seems to be an exceptionally large fitness center. Especially for one in Amman.
We help a lot of gyms start up and maintain their business. We provide you with the software to manage your club. This software includes:
Dues Processing (Unlimited EFT’s)
Front Desk Check-in
Point of Sales
Reports and Graphs
And so much more!!
We can help you get all set up and ready to go for opening day.
First of all congratulations. I am sure you are excited and overwhelmed by this opportunity.
I concur with the answers provided by Susan and Harris.
There is a lot to be addressed in your question but I will focus my answer based on your primary concern – the investor…
Here is what I can suggest in terms of any type of partnership venture:
The investor, generally, is the one that is the most at risk. If you have been presented with a partnership agreement, have your own independent attorney review it (so there is no conflict of interest) and advise you of the risk and benefits.
Are there any specific conditions that the investor has placed on you that concerns you?