Start-ups have had a good few years in the UK, and that’s only going to further improve in the coming years, once the whole Brexit fiasco settles down. If you are considering the option of starting your own CrossFit gym, now is as good a time as any to get started on the planning.
For business in general, the planning phase is extremely important because it gives your idea a structure to build upon. On the other hand, if your structure is flawed, the fitness centre will face a lot of hiccups which could have been avoided. Read on as we discuss three practical concerns that every gym owner should pay special heed to.
The Gym Doesn’t Have to be Big from Day One
If you’re coming off a successful business entrepreneurship already, it might be tempting to go big. However, the gym business doesn’t necessarily have to start big. Of course, you can go big if you have the budget and you are absolutely sure about the investment as well, but testing the waters is a safer and steadier business principle. Remember, good foundations will create a better base to grow bigger in time!
Understand the Neighbourhood
Start small, see how it goes, and see what kind of response you get after the initial year before expanding further with better equipment or opening up another chain link.
Prior market research is mandatory as well, because opening an expensive, luxurious gym facility in the wrong part of the city is often a bad investment! It can however, be a good investment in the same neighbourhood if you open a simple gym with essential equipment, machines, weights and staff only. It will keep the prices down, which will attract locals to the facility.
Cut Your Business Energy Costs Down by Negotiating a Better Deal
Irrespective of whether it’s a big gym or a small one, to keep the lights on, you will need to apply for a business energy meter. This can get very expensive, especially during the winter months when the heating bills start to take off.
To minimise the costs, make sure that you don’t sign any business energy contracts just because it seems fair. If you are going to run a business, there is no room for doubt. There are plenty of comparative websites that help you find the most feasible business energy provider in your gym’s vicinity.
On the other hand, if you sign up for a contract without comparing your options at least, you will have to wait until the contract period is over, even though they might be charging you a lot more than they should. Also, be sure to check off auto-renewals from the contract itself, because you can always use the same site to maybe find an even better deal, once the current tenure ends.
As can be seen, some of the tips here are actually applicable while planning a whole range of other businesses as well. This is true because, at their core, some concepts are always the same, irrespective of the trade’s typical nature.