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Opening Gym?

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With the rise of popularity with powerlifting, strength training and gyms in general in recent years, what are opinions on opening a gym in smaller town nz. Currently two 24h budget gyms, one council run gym (quite expensive and very cardio) and one other privately own gym, they have a fucked floor and dont allow any heavy weights/ chalk, they cater to circuit classes really. Still really in the dreamer stages atm, but have a business partner to go into it with if it does happen ( joint idea). We would target a certain market, and cater to strongman, powerlifting and bodybuilding/ physique. It may not suit all bodybuilding peps, but it would def be somewhere to go and lift heavy, Its def a risk and i do understand this, and i wouldnt quit my day job, my business partner would run it  day to day. sometimes you have to roll the dice, what are everyone's thoughts, advise, def going to be someone tell me it wont work lol 

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Its is a potentially risking move with minimal return, but if its on the side could run it at a loss and claim the tax back. 

 

Would you purchase the equipment ? 

 

How small is the town, much interested in that type of training ? 

 

If an investment money is made in classes and boot camps where minimal equipment is it suits the majorities needs. 

 

Would be nice to open one and start some kind of culture like barbell brigade or super training etc etc both are in massive cities though. 

 

triggered123 likes this

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2 hours ago, jimmybro1 said:

Its is a potentially risking move with minimal return, but if its on the side could run it at a loss and claim the tax back. 

 

Would you purchase the equipment ? 

 

How small is the town, much interested in that type of training ? 

 

If an investment money is made in classes and boot camps where minimal equipment is it suits the majorities needs. 

 

Would be nice to open one and start some kind of culture like barbell brigade or super training etc etc both are in massive cities though. 

 

Yeah i notice alot of the successful gyms locally and elsewhere offer a bootcamp/class so would have to look at that. the strongman gear would be good in this aspect. Would look to build it up. It has been suggested to lease/ hire larger pieces of equipment. I already have a reasonable amount of gear, wont give too much away, but in a town of approx 30,000 with surrounding smaller towns. Not sure how the tax write offs work tbh, could you claim back on gear youve purchased, or taken loan to purchase?

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The dream! If the numbers stack up and you can market/tailor it right to for it. Nothing worse than to die wondering!

Like the boot camp, group fit type things with lots of strong man functional based things.

Good luck.

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DO IT! What town?

 

Source the plates from China yourself would be my only input here. Couple thousand bucks for 2000kgs over 10's of thousands from a retailer who pretty much marks up the China stuff.

ShaanRB likes this

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7 hours ago, M.T said:

DO IT! What town?

 

Source the plates from China yourself would be my only input here. Couple thousand bucks for 2000kgs over 10's of thousands from a retailer who pretty much marks up the China stuff.

Can you get plates for $1/kg if you import them yourself? All I'll say is south island. Don't want to give too much away. Still a pipe dream tho. I'll just slowly keep making/buying Gear so that if I do pull the trigger I've got slot if it already

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You have to have paid tax either by way of PAYE or some other by paying provisional tax in order to get tax back in the first place . If u start a small business as a sole trader i.e not a company then any business loss is offset against your Paye job and u get tax back . If u start a business and have never paid tax then why run it at a loss. You should be in business to make money not to run at a loss and lose money. Go talk to an accountant mate. 

 

As for the idea, go for it. If it doesn't work out then at least you tried.

gazza likes this

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Is there any way you can gauge the level of interest in the town before you start? For instance, set up a small website (just a landing page with some basic info, and a way to collect email addresses) then send out flyers asking people to register their interest. Have some incentive like the first 2 months free, or whatever.

 

It's not an exact science, but it'll give you some idea of the public appetite for a gym like yours.

gazza likes this

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17 hours ago, triggered123 said:

Can you get plates for $1/kg if you import them yourself?

Yes+ shipping on top of tho

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