how much are business worth finder?

[Toby]

looking at starting a gym, there are 2 gyms like this about 15 miles each way!

looking to see how profitable there monthly incomings is?

is there any websites out there so i can see?

simular to ones seeing how much a website is worth, like this one forinstance!

Thanks!

[X4MGS]

Companies House, but you have to pay to find out.


Assuming they are a limited company.

[Toby]

both gyms are over 40 years old! which kinda says it all, and with low membership costs per month, £28!

there is a fitness gym ( which i go to ) allways busy, and small, i pay £59 per month!

looking at it, its a biiig start up cost, around £80000 between me and a friend!

but working it out on 300 members, paying £22pm for one year, thats £79200! + sales from products etc!

looking at units to rent, in the area are about £12000 pa

[James I]

you can pull accounts of companies on sites such as company checker or companies house, this is however assuming they have a big enough amount to require registration, they might just be in there as "accounts small"
 Most checks only cost £1 per item you want to look at.

Also remember you will have all the other stuff to cost in like liability insurance, water and electric etc, you will also need to look at salaries that need paying, if it is as easy as you say everybody would have a gym.

 Good luck with your venture.

[X4MGS]

Think you'll find there's a lot more to it that just income minus rent....


Insurance, Rates, Staffing, Equipment etc etc etc & don't you have to be qualified before you start??


If it was that simple everyone would be opening one...

[Toby]

yeah i know theres alot more to it! 

my buddie is a personal trainer etc all the certs!

very early days atm! just looking into it atm!

[X4MGS]

As long as you factor these in you'll have a half decent business plan, but you'll need at least 3 month's rent up front...


300 paying customers aren't gonna fall into your lap you will have to find them and that means advertising and that don't come cheap...

[Toby]

Yeah there's a lot to factor in, iv got it all down on paper!

And a name etc! Lol  all the premicis we have found are about 1200 square foot! Which I can't invisage how big that is! So I'll need to view them! Warehouses are perfect! But like you say, elec heating insurances and CCTV alarm, membership prices, database and of course the members! The gym I go to has loads of big guys who max all the weights ,  but it's a convenient gym all the other body building gyms are 20 min each way! 

[RichGtiT]

It's a tough game to be in , especially with all of the pure Gyms and gym company gyms opening that are a tenner a month. You would have to have a really good USP to attract members, so have a think about that.

1200sq ft isn't that big for a members gym, especially if you were to factor in changing rooms etc.  I own a personal training gym which is 1400 sq ft with. 350sq ft mezzo and that can feel busy with only two trainers working in there at the same time

I think if I was to open up a members gym I'd be looking for at least 5000+ sq ft.

I don't think £80,000 would touch the sides for a fully kitted out members gyms,especially when you factor all of the equipment and building changing facilities.

Something to think about, if you have any specific questions drop me a PM

Best of luck if you decide to go ahead with it!

Rich 

[Ginge 35Edition]

Go for an induction and ask them how many members they have and their costs, calculate their members as a percentage of the local community and then look at the National Audit Office or just Google 'how many people have gym memberships', here's a link:-

http://www.mintel.com/press-centre/press-releases/458/boom-time-for-budget-exercise

I've spent the last 6 months doing exactly the same thing, but came unstuck when my potential business partner wasn't prepared to put any operating capital in and he wanted me to take all of the risk, which I wasn't prepared to do. Good luck with this and don't forget to be realistic with your growth projections and he time of year you get started will have a big impact too. Sorry to preach but I have quite a lot of background to this stuff and I'd be happy for you to email me directly if you wanted.

Top tip :-

Classes, classes and classes = bigger profit margins
Rent floor space to PT's and as part of the deal they give you hours (eg 16hrs) on the gym floor = less staffing overheads

With regard costs, you'd need at least £30k start up capital for a bank to take you seriously and a 5000 sq ft venue to make it unique to the others and seriously as much time needs thinking about ancillary areas as the gym floor, changing rooms, coffee area, interview room, staff rest area (planning may require one), disabled access etc.

Exiting times, but a lot of planning!

Hope this helps!

Neil aka Ginge