Opinion on Business Idea-Fitness

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aparks11

posts: 2

Jul 23, 2009 4:58 PM ET Quote Report Abuse

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Hello, I would like your opinion on a business idea in the fitness industry. I teach group fitness classes and would like to open a gym devoted to only classes. It would be similar to a yoga studio but offer cardio classes (spinning, treadmill), yoga, body blast, bootcamp etc. There would not be a membership fee. ONLY a pay per class kind of place. I would teach a few classes a day and then have other instructors as well. The charge would be $7-10 per class.

I think this might work because at gyms you are usually locked into a contract. Also, personal training is so expensive (also certified in this).

Be honest....

mmdona

posts: 58

Jul 24, 2009 12:06 AM ET Quote Report Abuse

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With most membership gyms, you have to pay extra for most classes, so there is likely a market of class-goers that does not go at other times that you could capture.

Are you thinking that all the instructors would be your employees or would they rent the space from you for a flat fee and then fill their own classes? Would you have a retail component (yoga mats & blocks, water bottles, other equipment?

I think that if you can get the marketing, pricing and expenses balanced, this could be a good model.

Best regards,

Molly Donaldson

Imortal

posts: 98

Jul 24, 2009 12:56 AM ET Quote Report Abuse

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The only problem I see with your idea and I`m not knocking it or saying it won`t work is not having a membership fee.

These gyms have done a massive study over the years and the reason they charge membership fees is the fact that they have to make budget every month. Such things as rent, light bill, water, sewer, trash, cable t.v. and insurance. Most gyms also know that most people sign up after the first of the year when they have made those promisess to get back into shape. The problem comes when people decide after a month or so that they don`t have time this week to make it to the gym, then it turns into 2 weeks then a month and so on. With them haveing the membership already payed for they know they can make those monthly payments even if the customers do not show up.

Your idea of no membership leaves a big void. What happens if during the summer most of your customers are gone on vaccation? How do you make those monthly payments? What happens during the winter if you live in an area that has heavy snow fall and people can`t get to your for a week or two?

I would think the first step would be to sit down and write a serous business plan and marketing plan. Make sure if your classes fall off that you can make your budget each month. Those plans should show your strong and week points.

aparks11

posts: 2

Jul 24, 2009 10:06 AM ET Quote Report Abuse

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Thank you for all of your valuable input! You are right when it comes to budgeting for the monthly expenses so I will definitely have to think about that one. As for the instructors, it would be room rental or a split with the instructor. At one gym where I work I make 75% of what they charge. This is a country club and it works out to be very profitable to me and the gym gets a cut as well.

I like the business models of the yoga studios. They seem to have a big following. I would love to include merchandise.

Again, thank you. I really appreciate your feedback.

mikeperegrine

posts: 6

Jul 24, 2009 3:36 PM ET Quote Report Abuse

Points: 0 Vote

I also thought about shifting my business focus to the fitness industry, simply because it`s a passion for me and I love helping others learn the concepts associated with good health. I`d think that the number one contributing factor to your success will be just that ... that this is your passion. As far as membership fees and business planning are concerned, don`t skimp on thinking it through. My city offers free courses on business planning, and if you do some research, I`m sure yours has something similar. They are designed to help people really reason through the process of starting any venture.

What I like about your idea is that it concentrates on a certain facet of the industry. I hire a trainer at my gym, but we are always working around classes that are going on at the time. It would be nice to have a place that is strictly devoted just to the group the stuff, which operates separately from the rest of the gym. I`m sure you could come up with some great ways to market the idea. Best of luck!

-------------------------

Michael Peregrine
Consultant/Coach
Start a business without starting from scratch.
My Youtube

CraigL

posts: 9051

Jul 27, 2009 1:47 AM ET Quote Report Abuse

Points: 0 Vote

The problem I see is that people who like exercise are already happy with the gyms or whatever they have. People who avoid all exercise wouldn`t see any particular benefit to a pay-per-class.

So your main competition would be all the fitness centers and gyms already in place. That, and all the personal trainers. And remember, hospitals have gotten into fitness centers in a big way, selling an integrated wellness program.

It seems to me your idea is based on money----pay less for something. To me, that`s never a good idea, as you`re basically throwing yourself at the mercy of the economy, and disposable income.

byrneof01

posts: 230

Aug 06, 2009 12:41 PM ET Quote Report Abuse

Points: 0 Vote

What about an image improvement club? It includes dieting, workouts and some psychology sessions. The real reason people work out is to improve their image. May as well give them the whole package.

CraigL

posts: 9051

Aug 06, 2009 4:30 PM ET Quote Report Abuse

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I just had a vision of a new world of advertising for the "Image Challenged" among us. LOL!! :-)

huntstyle

posts: 6

Aug 14, 2009 12:11 PM ET Quote Report Abuse

Points: 0 Vote

Like others have said, I think it`d be wise to use a membership, or at least have customers sign up for a series of classes, or purchase packages in advance. That way if they are lazy and miss a couple classes, you don`t miss their payment. You could still offer to be able to pay for single classes, but I would raise the rates vs buying a package. That`s also your selling point for a package or membership, you "save" money!

As far as a class only gym, I think you need the proper market research to determine whether or not there is a market for that. Also consider that some gyms offer free classes with a membership. Just depends on what your competition is doing in your area.

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