I wouldn’t mind answering some questions for you. I have started from scratch to open up my own studio 6 times in 4 states. I used a base formula the first time of building up enough savings to cover 6 months of expenses for the studio (rent, electric, supplies) and keeping a job to support life’s expenses while I built up my client base. I bought a few decent used machines and free weights, along with a few new items. Things worked out well and I worked hard. Then I decided I wanted to move closer to the ocean in Florida and I repeated the process, but was almost entirely a mobile operation at first. There were a few times when business went down and I needed to pick up a part time job. But it all worked out in time. I just moved back to Hawaii last year and hopefully for good this time. My business is doing well enough to pay the bills and I am not trying to push it as much now. I am kind of semi-retired, want to work and teach, but not trying to work full time. You can check out my website, www.hawaiifitnessacademy.com . I am not a serious business type of person, so I don’t try to teach this kind of thing as part of my CEC program. So, I wouldn’t mind if you want to do a little email back and forth for at least moral support.
This forum has done a great job providing a lot of useful information. There have been many similar questions posted in the past where gym owners have provided some great insight as to where to look when starting a gym business.
Although I don’t own a gym here are a few things one might want to consider before opening one (in a simplistic way):
-Location and space (this will determine the rent)
-Business plan (might need to be evaluated every few years)
-Technology involved/offered at the gym
-Type of trainers hired (employees vs. independent contractors)
All of the above can also be influenced by the state and local regulations and laws that are in place. So need to keep that in mind when looking to open and operate a business. This would fall under the legal and accounting factor.
I hope this helps.