Are you thinking of opening up a brand new gym but just can’t seem to figure out where to build it? There are a lot of factors that go into determining where to put your gym.
The location that you choose can have a major impact on how much business you do.
Here are 4 things to consider when choosing the best location for your brand new gym. The location that is going to get you the most clients and the most bang for your buck.
Obviously the first thing you’ll want to consider is the price of the space you are trying to rent, or the land you would need to buy and develop. It’s easy to get lost in big dreams and amazing acoustics but if the funds aren’t there you won’t get far.
You have to be realistic when figuring out a budget for your new gym. You have to realize that a major chunk of that budget is going to be how much you spend to rent or build the facility.
If renting that fancy studio in downtown is going to blow your budget to bits, leaving only a few dollars for equipment and other startup costs, then it’d be best to reconsider.
You don’t want to fail before you even get started and that can easily happen if you pay more than necessary for the perfect space.
The neighborhood that would surround your gym is highly important and directly relative to the business that you’ll do.
If your gym is just starting out on a minimal budget, and you plop it down in a high end neighborhood, you may get scoffed at for not having the latest and greatest in workout equipment and gear.
This goes the same for if you wanted to open a location for your well-established gym with a much higher budget in a lower end neighborhood.
You simply won’t have the customers you want because they may not be able to afford your high-end prices.
The access to your gym is vital when choosing a location. It’s important that you build or rent in a space that is close to as many neighborhoods as possible. This ensures you can pull the highest amount of people from the surrounding neighborhoods.
More than you would if you built or rented next to a mall in a purely commercial area.
When questioned, the main benefit many people listed about their gym was how close it was to their home. People are more likely to come to your gym if you are closer to them.
Which makes putting your gym next to as many neighborhoods as possible the smartest placement option.
The amount of competing gyms in the area you are planning to rent or build is also a important factor. If you know you have a dedicated customer base, which will follow you anywhere and spread your name like wildfire, than you should be fine.
If your like most new gym owners you may not have established your gym’s name simply because you haven’t gotten that far yet.
This isn’t a bad thing on it’s own, but when you couple it with 4 other gyms all competing for your client’s, you can bet your potential client’s are going to go somewhere that’s more established.
So, if there is a gym on all four corners of a four way street it may be a sign you should keep looking.
While these aren’t the only factors to keep in mind when choosing a location for your gym they are all important in their own way.
You don’t want to overpay for your spot and run the risk of going negative in your profit.
You want to make sure you know the demographics of your area to avoid any clashes, and make sure your gym is highly accessible and many people from many neighborhoods can get to it.
You want to make sure you aren’t constantly competing with any surrounding gyms across the street from yours.
Choosing the perfect location for your gym can be a tough decision.
If you still aren’t 100% sure if an area is right for you, definitely start with renting or leasing a space before you commit to a build.
This can help you test the waters and determine if you are going to be the most successful you can be. In the end that’s what it’s all about.