Fitness enthusiasts who are considering opening up their own gym or fitness center need to remember the key element when it comes to real estate: location, location, location! The right location can make or break a new business, no matter what kind it is. Properly trained real estate agents will be able to provide details about specific locations that will help an entrepreneur choose the best possible place to build or open their business. Data concerning traffic, population, demographics and per capita income for each area are key elements in how well a new business will thrive in a particular area.
Go Where the Business Is
Gyms are often frequented by individuals who pass by them on their way to and from work or or other regularly scheduled activities. Opening a gym in an area that is frequently traveled by commuters can open up an entirely new demographic. Making the gym accessible is extremely important. A person who exercises on a regular basis will normally choose a facility that is convenient and doesn’t force them to go out of their way.
Knowing the type of clientele a person wants to draw to a facility will also play a large role in where the business should be located. If professional members are desired, the gym should be located closer to the business district. If a gym is designed to meet the needs of a more casual crowd, the facility should be located closer to residential areas. Finding a happy medium is not out of the question, but can put a damper on or the other groups, depending on the atmosphere of the facility.
Find an Existing Building
When opening a new business gym (or any other business for that matter), choosing an existing building can reduce the overall startup costs dramatically. If the owner chooses to build the facility from scratch, the cost can be overwhelming and create an obstacle that is difficult to overcome. An existing building negates the need for building permits, the cost of new materials and months of waiting while the facility is being built.
An existing building can be easily adapted into whatever the owner desires. Walls can be added or removed and the facilities can be upgraded to accommodate various different amenities including a juice bar, day care, or whatever else the owner wants to offer his or her clientele. Most existing buildings also have ample parking. Once a location is found that suits the business’s needs, the next step is making sure there is enough parking and making sure the building is accessible.
Knowing the financial means of the individuals who live near the gym’s location will be a large factor in whether or not residents in the area choose to frequent the facility. If the prices are too high, residents won’t be able to afford memberships. If the cost is too low, the facility may not be able to meet their obligations financially.
Putting a facility in a residential or commercial district will also play a role in how the business is taxed. Knowing what property taxes are for each particular area will help a new business owner make a wise decision about where to locate the business. In some cases, communities will help a business get established if it helps the community in return. Cities can offer tax incentives and other benefits to new business owners who choose to open a gym or store in a specific area.
The right location is extremely important if the owner wants it to succeed. Different neighborhoods offer various benefits. Knowing which ones make the most sense for opening a gym or fitness center will help the owner choose between a good location and the best location.