If you are having a serious plan for a startup of a gym and want to know how to start a gym business in India, then I have some amazing information for you, that will be very beneficial for your gym business.
According to a survey, the aggregate retail market of the fitness sector is about the worth of Rs. 4580 crore (0.75 billion US$) increasing at the rate of 16 to 19 percent & it is expected that it will cross the range Rs. 7500 crore (1.19 billion US$) by the next few years.
This rising span of fitness in the millennials has motivated in turn the excitement into business property. The statistics of the Government indicates that there is a strong chance of growth of the business if you can start a gym business here in your country. There is a guarantee that this industry will make a profit with global franchise & multiple homegrown. If you want to increase the chances of building up a huge market, you have to follow some basic steps, apart from your planning & proper financial guidelines. I have some expert suggestions to start your gym business plan.
The location which you are choosing to start your gym business is much important. Failure or success is highly dependent on this decision. If the location is near a commercial or residential space, then that will be too much equipped with much visibility rate among consumers. The investment will hit in a month.
But when the location will be unknown to consumers’ reach, that may be a vital risk factor & your business may fail in a moment. The main thing is when you are searching for the perfect place for the gym, The investor must keep in mind the essentials like parking, street access and visibility.
Your gym trainers should be certified from a well-known institute like Gold’s Gym Fitness Institute ( GFFI), Indian Academy of Fitness Training (IAFT) or a certified Bodybuilding Personal/Gym Trainer (CBT). Nowadays a huge number of famous gym brands (international or National) are giving an offer of high-quality gym training and globally corresponding certification.
The most important thing is the Trainer’s certification from the good institute will increase the demand for your gym.
When you are going to start a gym business then you need to know the demand for your consumers. You have to promote the facilities of the gym. For example, catering to adults need to offer improvement services & disciplines of the exercise like Pilates & low, Yoga- effect Aerobics while women- the weight loss exercise should be included in the facilities. Apart from those, some fun workouts could be added like Zumba and circuit training.
Another most important thing is safety. After selecting the location and installing the equipment to the proper places, You have to look after the safety. The ISI certificate of the equipment, validation or calibration Certificates should be proper. You have to fix a first aid box in your gym for minor injuries.
How To Get License For Gym In India
Sergers report says that Indian fitness market is growing day by day. Setting up a gym in a perfect location will give a promising profit at a time. But first, you need to have a license that will help you to grow your gym business. Here I will guide you to have a proper license with some easy steps-
Register the gym
This is mandatory to register the gym as Limited liberty or Private Ltd. Company. After choosing an option, you could sell off or transfer the shares, if the owner is unable to continue it. Initially, a temporary registration certificate is issued to the owner. Its validity is for a quick period and getting all clearance, the owner may apply for the permanent registration.
The SSI registration
The gym has to register as a small-scale business at the nearest SSI registration department.
Establishment & Shops Registration
The Establishment and Shops Registration is the most important part when you are beginning a gym industry in your country.
Registration of the Service Tax
The Government of India declares that paying service tax is compulsory for gyms if the yearly turnover is 10 lakhs and more.
Police department clearance
Collecting the clearance certificate from your local police is the most required thing. Without the police verification, you can’t continue the further process of implementation of a gym.
Loan application process
If you have short of money, then you need a loan to continue your gym business. Many banking sectors are there to give the loan with some interest rate. If you can successfully convince them with your business plan and profit loss equation, then you can surely get the loan. After a certain period, you have to pay the money through monthly instalments.
This business needs a big startup cost. But this is so much profitable. Because many people in our society are seeking body fitness. Some are passionately taking the gym membership. If somebody can maintain the procedure smartly then there is sure profit in the gym business.
List Of Equipment Needed To Start A Gym Business
The most important thing is the equipment for a gym. So I am presenting the very important list of equipment needed to start Gym businesses
For weight training work out the bench of training is adjustable. You should have the ability to fix the backrest, as you move the bench from the incline to flat position. You need to have the adjustable bench.
It is the most significant gym equipment to purchase. You have to buy a range of light to heavy dumbbell sets as per the group profile. There are various shapes, sizes and materials of the dumbell from colourful to plastic-coated are available in the market.
There are a variety of types of barbells. Such as an Olympic bar(45-pound for women and 55 pounds for men), bench press rack, the removable plates and squat rack. If you can’t afford them then take a group of easily adjustable or fixed barbells and a small bar will help you.
As an option to dumbells, you can take kettlebells. There is a different size, weight and shapes are available.
Bar and Pull-up Frame
This equipment is used to do pull-ups and chin-ups. You can save your expense and space by taking the squat rack including a bar up and pull-up top.
You can invest to buy some cardio equipment. You may include some other machines if you can’t afford it. If you have the ability then getting a Treadmill is a good decision.
You can buy a stationary Bicycle as an option for a rowing machine and a treadmill for cardiovascular strength.
Consumers can do much workout with the rowing machine which is used to exercise the full body. It is used for lower body work out. As well as it burns a lot of calories.
There are so many types of an exercise ball. It helps to work out of dead bugs, chest presses, plank knee tucks and bicep curls.
Buy some portable equipment, for stretching of the upper body you can buy the wooden bar, tubes & bands for the improvement.
Estimated Cost To Open A New Gym In India
For a gym business, you can have a loan. Like the other startups first, you need to incest a certain amount to have the locations, registration, equipment and other things. If you do not have that much amount when applying for a loan is the best option.
After long planning when you are ready to start up the gym business you have to calculate the expenses.
Including construction costs, building up a gym with multi-function may cost between Rs. 5 lakhs to Rs. 10 lakhs.
For hiring the faculty for expenditure can cost from Rs. 30 thousand to Rs. 60 thousand.
Then you have to hire gym trainers. The cost of gym trainers is in between INR 20 thousand to INR 1 lakhs, depending on the separate trainers for women and men and their involvement in the gym. Approximately Rs.5000 for monthly equipment service & other expenses.
Now the most important thing is to buy all the gym equipment and setting them up properly with the help of experts. To start the business from the first day, you need to do long investments to have a full package of all the gym equipment. For that, you need to invest around the starting of $3,00000 up to $25,00000. Later you need to upgrade the instruments accordingly.
The other cost you need to invest in the licence for gyms. As the trade licence, SSI licence and others. For marketing your gym on social media or opening a website will also have some charges.
Ultimate Checklist For Opening A New Gym
So, when you are very serious about opening your own gym, the way to certainly opening the ways can be lengthy & frustrating. You need to expect to pause anywhere from around 6 months to one year till your gym does not get ready for welcoming the new members. At that time, easily you can be busy with ascertaining your brand & purchasing materials, among additional aspects. As you contemplate to be an entrepreneur, here I will present some responsibilities you can add them to your gym to-do list:
Are you ready to unlock your gym business plan? Is to be a gym owner you really wanted badly? You may have to administer feasibility research to analyze these questions further.
Write the ultimate plan for your business
All businesses require a completely researched business agenda. It persuades investors to finance your undertaking & assist to guide your ideas through the whole procedure of unlocking new companies. Now you can easily search for the “free plan templates of the business” online for finding ideas & resources.
Find an establishment
The most important part is the location. What additional companies are nearby? What is the number of people who will fit? What is the lease obligation or investment rate? Your establishment is that all members will come mostly, so be confident you have the correct one.
Evaluate obtaining investors or the loan when agreeing on how to finance this business. You just require strong finance to hold you through the early few years or months. You can also have the new bank account created for the business.
Employ the correct team. The process of hiring can have some time, so begin finding skilled faculty members presently. You just have to establish job listings, the hierarchy with other business connections, scan resumes, interview aspirants, entirely background checks, & so on. But the further work you invest in constructing your team, your gym will be that much functional.
Begin circulating the word on your current gym. Specify the target demand & then invest in techniques that can reach them immediately. You can also buy conventional ads, digital advertisements or both. It is moreover when you need to begin formulating a different and compatible brand for your gym business.
Add some finishing touch
Now you are ready! Just, the small aspects to be done. Assembling worker lists, composing membership contracts, determining which strategies & assistance to formulate, integrating technology, & establishing pricing proposals are all minor elements that will create a huge disparity when you open.
Time to Cut the ribbon!
After so much hard work, investment, & multiple sleepless nights, finally your gym is going to open for the business. But the voyage can be tough, the cost of having your very own health centre is certainly worth it.
Is Opening A Gym In a Small Town Is A Good Idea?
Wherever you are if you wish to have your own gym, just check the location first and the whole area where you will open your new gym. If you belong to a small town and think about the profit of having a new gym then let me tell you to do that. Whether it is a small or large town everyone needs and wants to be fit.
But maybe in any small town people are not so conscious about making body buildings. So it will be a challenge for you. You can be a risk-taking person and open your Gym there. You just need to do a proper advertisement and acknowledge people of the locality about the gym and fitness. When they will get influenced they will ask others to join your Gym.
So it will be very much beneficial for you to have the special gym business you have, where all the other people are influenced and they want to join your Gym only. Where does the problem of having your own gym in a large town? It can be the problem of acknowledging people who are already known about fitness and they are regular customers of several gyms? You may find many difficulties to survive there among all the other gyms.
So opening your Gym business in a small town is not at all a bad idea. The key to achievement is apparent in any small, medium or large town. Discover your objective, power your fascination, & produce on the pledges you prepare to yourself, your investment of business, & your buyers and achievement must be yours.
Is Gym Business Plan Still Profitable In India?
There are many celebrities or enthusiastic people who have easily turned the passion into their best career choice. They are so passionate about bodybuilding and fitness that they have opened their set up new gym business and that is running perfectly in this country like India. I will show you some government statistics that will help you to find opportunities to enhance and start the gym business in India.
What is profit?
Basically in India, this sector of the gym is highly disorganised and Messy. It needs to be very much organised. But no doubt the business of the gym has several scopes in India it is also possible when the government and private sectors can work properly for promoting this particular industry.
- The proper gym business structure in India is around Rs 4,670 Crore.
- The Growth percentage is 17%-19%
- The Estimated development in the future: Rs. 7,000 Cr.
There are several fitness changes that are having the possibilities of growing gym business. Just for the disorganisation of this business, the fitness industry is becoming successful very soon. So many international brands are joining this Indian business to establish an amazing team of clients. Mainly the people who come to the gym are usually from the age group of 20 to 50 years. This is the benefit of how to open a new gym in India.
Millionaires are very much interested in joining fitness and gyms centers
Many worldwide fitness authorizations have arrived in this Indian market to obtain the advantages of the accumulating gym business in India. Also, the popular Australian large franchise convoy has already been establishing uprisings in the Indian market. Their objective is to formulate India, the healthier state to stay in. These top-class capabilities, the deadest gym materials, 24×7 availability, & accessible fee hierarchy create an amazing alternative for those who love fitness from the whole of India. They have gyms in Gujrat, Maharashtra, Nashik, Pune and other places.
How To Start A Gym Business With No Money?
For every business you need investment. But there are so many large companies like Google, have started from zero. So if you wish to open a gym business without any investment follow these steps-
- Borrow some amount from friends or family. Take this amount to set up your business and promise them to return later.
- Start with a small place
- Buy less equipment
- Do a lot of marketing
- Make your business card to tell people about your gym
- Make clean and clear your gym
- Give safety the first priority
- Give some time to set up
- Try to do everything by yourself
It will take much time but if you are passionate enough surely your business will grow one day.
How Much Money An Average Gym Owner Earns?
It completely relies on the category of any gym, structures and materials they actually use, the length of that gym, & most greatly the town. the category of the area of that town it is existing. If you wish to have a gym in a small town area then you cannot have much demand from the people. but here investment and another cost will be lesser. Likewise, if you are having a gym in a high town area then the costing and the investment will be higher as the return will also come more.
I can give you a proper assumption of the gym where I go. It is mainly a small gym. For any type of workout, it is suitable. They take 700 rupees every month. The trainer is very good and he is the one and only trainer who trains everyone. If you are a beginner you might have some problems but if you are an expert and know all the things you just need some help otherwise everything will be perfect.
This gym has around 200 members. They Pay 700 rupees per month. So the whole income is 140000 rupees every month. The maintenance charge is 60000 and so the final income can be around 80000 per month. Actually, that is based when you follow your passion and this amount every month.
You must have your answer now, the best guide for starting a gym business in India. So just maintain the proper things as per the guidance. Opening a gym or fitness center is best and easier for the people who basically like to share a special preference for maintaining an enormous physique and health.