I would say start small with room to expand. Only buy what you absolutely need to get started and spend money slowly and conservatively. Determine your “niche” and focus on that–don’t try to be everything for everybody. Stay open and flexible–if something is not working, be ready to change strategies. Same thing with employees–don’t waste resources on someone who is not helping your business. Research and learn as much as you can about fitness, business and managing people before you start and then keep learning. Attend free or low cost seminars/webinars. Read books to stay motivated. It’s not an easy business but the rewards are endless!
Personally I wouldn’t own my own studio. I managed a studio for 25 years, so I have the expertise but didn’t want to legal responsibility and or ramifications.
It seems glorious to be a studio owner but you have to do the numbers and make sure you can financially make it first. There are many things that go on behind the scenes to make a studio run well, offering classes is only a fraction of what is required.
I think renting with others is a good option so that the burden is not all on you!
I agree with the other answers, go in prepared, if you really want to own a studio and it’s always been your dream and you are passonate about it, then do all of the research ahead of time so that you won’t get any unexpected surprises thrown at you.
Remember, if something goes right at the studio you get credit, if something goes wrong, you get credit!
If you are planning to open your own studio congrats, but before you do know where your clients are coming from. if you think you have a good client following before investing in expensive studio equipment and rent try out virtual training.
At www.FriendsBfit.com we will let you rent out a virtual studio room. You will teach your clients right in their homes by connecting using technology like Skype. The investment is low and you can test out if you can attract clients.Email me if you are interested in this [email protected]