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!
Big question you ask!
Here are a few things
Write up a business plan
Hire a lawyer and tax accountant
Develop a marketing plan
Know your overhead/costs- includes, rent, equipment, salary, utilities, etc
Analyze your risk factors
Learn the business side of running a gym
Most gyms can’t run themselves -they need constant attention!
I managed a fitness studio for 25 years, never wanted to be an owner, too much of a headache
Feel free to email me any questions