Fitness
Wellness
The fitness industry is currently experiencing an extraordinary boom, marked by an increasing number of individuals dedicating themselves to healthier lifestyles. However, in this expansive market, a one-size-fits-all approach is non-existent. Fitness studios have evolved to meet the distinct needs of diverse fitness enthusiasts. From traditional gyms to specialized boutiques and luxurious fitness centers, the options are abundant. If you’re considering launching your own gym, it’s crucial to understand the various types of gyms available to make an informed and strategic decision.
Let’s dive in and explore the vast array of fitness studios that can inspire your entrepreneurial journey.
Must-know types of gyms for gym owners
Before starting a gym business, knowing what type of gym you want to open is important. Considering your mission and vision, there are multiple types of gyms that you must know about. So, to choose the right type of gym model, let’s have a look at the following:
1. Traditional gyms
Most of the gym businesses are of traditional or conventional type. Traditional gyms offer a variety of gym equipment to members, including free weights, treadmills, ellipticals, rowing machines, stationary bikes, squat racks, cable machines, and more. Basically, traditional gyms are for those who want diversity but do not look for niche classes.
Traditional gyms, being the most common type, are more crowded as compared to other gym types. So, it is necessary that you have a wide range of options and pieces of equipment to cater to your members optimally. When it comes to the environment of traditional gyms, they provide a functional and friendly atmosphere. Traditional gyms are not required to be luxurious but roomy, clean, and well-kept.
So, if you are interested in opening a traditional gym, you may require an initial capital of around 50,000 to 100,000 USD a month.
2. CrossFit gyms
In the past couple of years, the trend of CrossFit gyms has increased immensely. CrossFit gyms captivate fitness enthusiasts who are interested in high-intensity training, such as a combination of cardio, strength, and coordinated movements.
Since CrossFit gyms attract people who love to push their limits, they focus on combined and functional movements, such as squatting, lifting, and pulling at a high intensity. For that purpose, your CrossFit gym must offer dumbbells, barbells, kettlebells, pull-up bars, and rope climbs.
CrossFit gyms are all about basics, and providing a comfortable yet motivational place to your members to achieve their fitness goals. That is why starting a CrossFit gym can be quite light on the pocket as compared to other gym types.
The initial capital required for opening a CrossFit gym ranges from 20,000 to 50,000 USD. And for the monthly expenses, CrossFit gym can cost you around 10,000 to 20,000 USD for all expenditures.
3. Family gyms
From toddlers to parents to grandparents, family gyms help everyone accomplish their fitness objectives. Family gyms are considered to be a one-stop solution for a family where everyone thrives to maintain their health and wellness. In addition, family gyms help you attract a member base who is interested in mingling with various age groups.
In family gyms, various types of pieces of training are provided to cater to the preferences of different age groups. This may include strength, flexibility, endurance, and balance. In addition to that, family-friendly gyms provide a variety of benefits, such as play areas, swimming pools, adult gyms, sports clubs, special classes, and more.
The design of family gyms is a little different from other types of gyms. These types of gyms usually have an inviting environment. In addition, the theme and decor are usually simple but captivating, engaging people of every age.
Not to forget, opening a family-friendly gym can also burn a hole in your pocket. It is because you will have to be considerate of every age group and design your facility accordingly. So, it can cost you from 100,000 to 200,000 USD with a monthly expense of around 20,000 to 40,000 USD.
4. Boutique gyms
Boutique gyms are more community-oriented, making them different from other types of gyms. These gyms are usually smaller and thrive to offer personalized experiences to their members. In addition, boutique gyms offer a variety of fitness classes, including high-intensity training, one-on-one workout routines, strength training, yoga, and more.
Since boutique gyms are smaller, they are the first choice for people who love to socialize while working out. In addition to that, members get better attention during their classes due to a lesser number of members. So, it helps provide a more individualized experience while creating a sense of community and belongingness among members.
When it comes to the design of boutique gyms, they have a decent, luxurious, and sleek design. In addition, they have specific lighting to boost your mood. That is why they are considered as a lifestyle and not just a gym.
Boutique gyms, being a trademark of luxury, require a hefty initial capital. Opening a boutique gym may cost you around 100,000 to 300,000 USD. Regarding the monthly expenditures, running a boutique gym may cost you from 20,000 to 50,000 USD.
5. Pilates studios
Needless to say, the trend of joining Pilates studios is increasing like wildfire. So, opening a Pilates studio can be quite lucrative. People who put emphasis on building a mind-body connection join Pilates studios keenly. Pilates studios offer various types of training to ensure muscular strength, flexibility, and better posture.
To provide a decent experience to your members, you can offer a variety of services according to your budget. Typically, your audience expects core Pilates classes, specialized Pilates classes (prenatal/postnatal, athletic, and for seniors), and additional classes, such as yoga and barre.
When it comes to the design and ambiance, the primary purpose of Pilates studios is to help build a connection between mind and body. For that purpose, Pilates studios offer a warm and welcoming environment. In addition, Pilates studios prefer soft lighting to promote calm atmosphere.
Opening a Pilates studio requires an initial investment of around 50,000 to 100,000 USD. However, the amount depends upon the size, location, and amenities of your studio. Regarding the monthly expense, it can cost you from 2,000 to 5,000 USD.
6. Athletic gyms
If a person is not only into fitness but also looks forward to honing their athletic capabilities, they prefer athletic gyms. At athletic clubs, members not only maintain their fitness status but also train better in their respective sports disciplines. So, basically, amateur, semi-professional, and experienced athletes join athletic gyms.
In addition to providing sports training, athletic gyms offer top-of-the-line gym equipment as well. Furthermore, athletic gyms facilitate their members by offering swimming pools, tennis courts, basketball courts, squash courts, and whatnot. Beyond fitness classes, athletic gyms also provide professional coaching and leagues to maximize members’ experiences.
To keep athletes in the mood, athletic gyms often provide an energetic and enthusiastic environment. In addition, the gym facilities are spacious to offer enough room for every athlete to train optimally.
To start an athletic gym, you must have a budget of around 200,000 to 500,000 USD. In addition, your monthly expenses may cost around 30,000 to 60,000 USD to keep up with your gym’s requirements.
7. 24-hour accessible gyms
People with difficult work routines prefer flexibility when it comes to joining a gym. For such fitness fanatics who look for ultimate convenience, a 24-hour accessible gym is the best option. These gyms are more like traditional gyms, but there is no restriction on hours. So, these gyms are the places where working out and sweating never stop.
24-hour accessible gyms offer a wide range of gym equipment. These may include treadmills, rowing machines, free weights, ellipticals, and more. So, you can offer cardio training, high-intensity workout, and strength training. Flexible gyms have a larger member base due to their convenience and easier accessibility.
In addition to that, these gyms have a simple yet functional ambiance. To put it simply, 24-hour accessible gyms are well-maintained, clean, and safe. So, such gyms help you cater to your members without any hassle.
When it comes to initial capital for starting a 24-hour accessible gym, keep in mind that it will cost you around 50,000 to 100,000 USD. For monthly expenses, your budget must range from 15,000 to 30,000 USD.
8. Luxury gyms
People who seek luxurious and elite gym experiences prefer joining a luxury gym. A luxury gym is not an ordinary gym, but it offers exclusive services to boost members’ experiences. It may include futuristic pieces of equipment, a salon and spa, and other amenities. Basically, it gives you the vibe of a well-established club, providing a luxurious lifestyle to your members.
When it comes to the services of luxury gyms, they include personal training, personal care, massage therapists, and nutritionists. In luxury gyms, the facility must have steam rooms, fitness apparel boutiques, spa spaces, saunas, and more. Since elite members join luxury gyms, they pay well for the premium services.
In addition, the ambiance of luxury gyms is ultramodern and highly developed. Such gyms provide a sense of exclusivity and extravagance. So, luxury gyms come with large lounge spaces with aesthetic but comfortable seating, ambient lighting to pump up the mood, and more.
Since luxury gyms demand state-of-the-art equipment and every other thing, they require a hefty initial capital. To open a luxury gym, the budget ranges from 200,000 to 500,000 USD. in addition, you must have a higher monthly budget of around 30,000 to 50,000 USD.
Starting a gym business: How to choose the right type
Starting your own gym business is a big step, right? This is not something that you plan and execute overnight. To start your gym, it is vital to consider your goals, interests, market trends, and more. But, the most significant factor to consider is the type of gym.
So, if you are unsure what gym type would be best for you, we have got you. Take a look at the following factors to figure out the right gym type for you:
Identify your target market
First and foremost, identify your target audience, which can include fitness fanatics, athletes, adults, families, or others. Once you know your audience, you can figure out their interests, pain points, and preferences.
However, it is important to understand that your gym type will impact your clientele. For instance, if you open a traditional gym, you can reach out to the broader audience. But, if you start a boutique gym, your audience will be very specific.
Analyze the demographics
To choose the gym type, it is important to know the demographics and your chosen location. Thoroughly analyze the market competitiveness, average incomes, and population density. So, when you have a clear understanding of your audience’s demographics, you can figure out what they seek. It will further help you decide the most lucrative type of gym for your business.
Consider your background
If you are a fitness expert looking forward to starting your gym business, it is important that you consider your expertise and specialization. If you are a certified fitness enthusiast, consider your specific fitness area whether it is Pilates or CrossFit, it can be your the right type.
Finalize your business model
Choosing the right business model is utterly important since it decides your revenue streams. So, go through various business models to figure out what fits best for your business. These may include membership-based, personal training, pay-as-you-go, hybrid, and more.
Decide your budget
The most important factor to consider is your budget. If you have a hefty amount in your bank account, you can choose any gym type. However, with a limited budget, it is essential to be mindful about everything.
Not to forget, a basic gym may require an initial capital of around 30,000 to 50,000 USD. However, if you want to start a high-end gym business, the initial investment can be up to 500,000 USD.
Gym management: Keep everything streamlined
For new gym owners, it can be quite intimidating to managing their gym along with focusing on expansion, right? So, we have a one-stop solution for you that helps you keep gym management at your fingertips: Wellyx.
Wellyx is a popular and all-inclusive gym management software. It provides management ease by automating your workflows with just a few clicks. It comes with a wide range of features, including:
- automated scheduling
- online payment
- access control
- lead generation
- automated marketing
- customized branding
and more.
So, no matter what type your gym is, you can always count on Wellyx!
In a nutshell
Planning to start your gym business? Before you take the next step, it is important that you get the in-depth information of your market and gym types. Yes, there are several types of gyms for specific audience. So, go thoroughly through the types of gyms and choose what type can help you accomplish your business goals.
