Finimpact

Conclusion

Now you know how to open a gym and make it a success!  Just remember to do your research, know your niche, and your customer base. Always remember your ‘why,’ choose a location wisely, and market your business as much as possible. Then, keep your customers happy!

Frequently Asked Questions

What’s The Average Cost to Open a Gym?

 $245,000 to $400,000 is the average cost to open a gym. However, these numbers vary greatly based on your location, the size of your gym, what type of gym you want to open, and the costs of your equipment. Your costs will be higher if you purchase the building as well. 

Can You Get Gym Loans When Your Business is Just Starting Up?

Yes, you can get gym loans when you’re a new business. You may be able to get an SBA loan, an online business loan with no collateral requirement, or a bank or credit union loan based on your personal credit profile and your business’ financial projections. 

The better your credit score and the more assets and income you have, the higher your odds of approval are. When choosing a gym loan, compare lenders, loan products, rates, terms, and minimum qualifications. 
 

What Are The Advantages of Opening Your Own Gym?

The advantages of opening your own gym include:

Flexibility: Work for yourself around a schedule that works for you
Financial freedom: Be your own boss, don’t limit your income, and build a legacy for your family 
Passion: Get to be around inspiring people who are also interested in the same field as you 
Workout for free!
Improve your health: Increase your physical strength and health and decrease your stress levels 
 

About the Author

Allison Bethell

Written by: Allison Bethell

Real Estate and Finance Expert

Allison Bethell is a content writer, real estate investor, small business owner, and consultant. She has a B.A. from Villanova University in Sociology and Business. She also holds several graduate certificates in early childhood development, screenwriting, and contract law.

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Kal Salem

Reviewed by: Kal Salem

CPA, PMP and Finance Consultant

A CPA and finance professional working with small businesses to educate owners and grow alongside their businesses. He holds a Masters in Accounting and a BS in Supply Chain Management. Owner at Salem CPA Services LLC.

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Joe Templin

Fact checked by: Joe Templin

ChFC - Charted Financial Consultant

Joe Templin is a Charted Financial Consultant (ChFC), MCEC, CEC, CLU and CAP with well over three decades consulting, coaching, and teaching. He's an author of the Amazon Kindle #1 New Release "Every Day Excellence" and host of The Human Kaizen Podcast.

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