The gym is a lucrative business nowadays. A lot many people want to start a gym but lack the investment needed to start and run it. Here in this article, we guide you to start a gym business with no money or with less investment.
To be successful in the gym business, one needs to be dedicated, put in hard work, and have an attitude to provide the best service to customers.
Based on your budget, you have to choose the type of gym business you want to start. There are gym activities that require no money to start, some require little investment, and equipment-based gyms do need reasonable investment.
Here in this article, we will explore those gym businesses which require no money or low investment.
Best Way to Start a Gym Business with No Money
If you don’t have money to invest or want to play safe, the best way is to start is by reviving an old gym business that has stopped running.
Try to find a property owner who rented his place to a gym owner and currently ceased to exist. You can offer him a 50:5o partnership in exchange for the property.
You can also approach any other property owner and offer him/her a similar proposal. The proposed partner will get a sizeable percentage of profit in exchange for renting out the place and providing a small investment for necessary equipment and interior costs.
If you are serious about starting a gym business with a shoestring budget, find below the steps to follow:
Here is a Stepwise Guide to Start a Gym Business with Low Money
1. Choose the type of Gym Business
If you are looking to start a gym business with no money, it is critical to decide the type of services to be provided to members. Broadly, gym services can be divided into two categories. One is the powerlifting gym and the other is a fitness exercise type.
If you have little money to invest, it is better not to opt for a powerlifting gym as it will require different types of equipment that costs.
People with low money should start gyms where you will be training members to stay fit with manual exercises. Presently, there are various forms of fitness exercises that are popular among people visiting fitness centers. You can start a gym providing yoga training, aerobics, dance classes, Zumba classes, etc. You can also work as a health coach as one of your gym business services.
2. Get Trained
When you start a gym business with no money, you won’t have the luxury of hiring fitness centers. You need to be the first fitness center in your gym business. If you are not already a fitness center, you must get trained first.
Locate a training institute or a fitness trainer and become a certified trainer. You can specialize yourself as a yoga trainer, aerobic specialist, Zumba dance trainer, or any other type you are interested in.
3. Understand the Local Demand
Like any other business, it is a must to understand the trends and demands of the local people who are looking for fitness programs. Talk to local fitness centers and gym owners and gather information regarding their products and prices. A rightly planned market research will help you to explore the gaps and plan out better.
4. Plan your Finances
Check your budget and make sufficient arrangements so that you can keep your gym business alive for at least 12 months. It is seen, it takes 6 to 12 months generally to get a steady flow of customers. Since you have a limited budget, your financial planning must be planned meticulously so that you can concentrate and contribute to your business more effectively.
5. Fix Location
If you have a place of your own, most of your hurdles are gone. You have a huge advantage in starting in your gym business. If you don’t have and have little money to spend, find a place with small rent.
You have another option of providing fitness services by providing training at the place of any of the customers. A lot many successful gym and fitness trainers started by operating at the customer’s location. After money and members started pouring in, rent or own a place for your own gym.
6. Use Low-Cost Marketing Ways to Find Customers
The most difficult part of starting a gym with low money is to market fitness programs. The most cost-effective way is getting customers through word-of-mouth advertisements.
There are many low-cost or free marketing ways to promote your gym business. You can check this article to know more. Business tools like visiting cards, brochures, exploring social platforms are some low-cost or free ways to promote your gym business. If you have some money to spend, think of creating a website that will make your gym business not only reachable to more customers but also create more confidence in potential customers.
If you find yourself interested in starting a gym business, check out the Fitness Formula Guide Book by Brian Devlin. This highly rated book for sure will make your job much easier in planning your gym business in the right way.
Developing a successful gym business requires complete dedication and effective planning. If you are the one who can offer both, there is no way one can stop creating a profitable gym business.
About the Author: 99businessideas.com led by Rupak Chakrabarty is committed to helping beginners, entrepreneurs, and small business owners in starting, managing, and growing their business. Our aim is to educate the entrepreneur on the various stages of entrepreneurship.