Owning your own fitness studio

by frank-stuart
16APR

If working on your own terms is ideal to you, than owning your own fitness studio could be the perfect career move. Running your own studio gives you the chance to pursue an aspect of fitness that you are passionate about, work for yourself and earn cash while doing it. But there are a number of things to consider if you want to get your fitness business off the ground, so we’ve compiled a list of things you’ll need for success.

Start with a plan

Planning is the foremost vital step for owning your own fitness studio. Ask yourself some vital question at the start and formulate a plan that can help you achieve your objective. Important questions include:

  • Are you financially able to support yourself while you start up a studio?
  • How much money will you need for monthly expenses?
  • What will be your operating budget (including rent, licensing, training, payroll, supplies and an emergency fund)?
  • What service will you offer and at what frequency?
  • How much will you charge for services to ensure profit?
  • Do you need a small business loan or other financing?
  • What qualifications/experience will you need?

Budget, financing and licensing

Financing is crucial to establishing your own studio, so look for financing before you look for a property. Financing is can be a lengthy and thorough process, so be prepared with all documents including reasons for needing financing (equipment, payroll, property financing) and any other forms you might require. Also ensure you have all the licensing required to own your own studio. Make sure you start with a budget and that you work to that budget, this will ensure you aren’t spending more than you can afford. Also check if you need any equipment for you studio, and factor that into your budget.

Location

The perfect location can make or break your fitness studio. Do research to see what is available and consider factors including:

  • Is there any competition around?
  • Is there ample parking available?
  • Is the area easily accessible?

Identify your target market and tailor your services

Work out who your customers might be to and tailor your services for that target market. You might choose to offer group fitness classes to varying age groups and level of ability, or you might want to tailor your classes to children, special needs or elderly. Identifying your target customers will help streamline the process of how to promote your business.

Promotion

Learn how to promote your fitness studio through traditional and digital media. Having a website is a great way to start, and social media pages – Facebook, Twitter, and Instagram – are vital marketing and promotional tools in this day and age. But don’t ignore traditional marketing methods such as flyers and local newspaper ads, particularly to appeal to local customers. Word-of-mouth referrals is one of the best forms of advertising, so perhaps offer introductory classes that can garner good feedback and help spread the word about your business.

Get qualified

You have to practice what you preach, so ensure you get the right qualification when you set out to open your own studio. If you want to own your own fitness or dance studio, getting qualifications in health and fitness and dance are vital. Whether you want to own a dance studio, offer personal training, start up your own little gym or offer group exercise, you will need to have the theoretical and practical knowledge on how to offer these services to your clients. You will also need to have some idea about how to run a business including budgets, staffing, marketing and management.

If you are keen, ACPE offers a range of courses to help you get started. If you need specific qualifications in dance, check out the dance courses on offer. If you need specific qualifications in fitness, check out the range of fitness and sports science courses on offer. If you want to learn more about the business and administration side, check out the sports coaching and administration and the sports business courses on offer.

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