So you’ve decided to open your fitness studio. Maybe you’ve been searching for the right opportunity, and committing to your new business has you feeling excited and ready to go. But, while there are many advantages to owning a fitness studio, there are also some disadvantages.
The pros of owning a 24-hour access gym are that you can build your skills, meet new people, and earn cash. The cons of owning a 24-hour access gym are that it can be expensive to maintain, time-consuming to run, and there is a higher risk of theft.
All in all, whether or not to open a 24-hour access gym is a personal one. If you have the money and the desire to do so, it can be a great business decision. However, if you are on a budget or are worried about security, it may not be the right choice.
Perhaps you’ve wondered what owning a 24-hour access gym might entail. To help you get a better idea of the pros and cons of owning a fitness studio, read on to learn more about this option.
What Is A 24-Hour Access Gym?
A 24-hour access gym is a fitness facility open around the clock. You’ll open your 24-hour access gym to cater to the packed schedules of busy people who want to join a gym but can’t do so during standard business hours.
As a gym owner, you’ll be able to serve this type of clientele with gyms that are open 24/7. Your gym will be fully equipped with all of the gym equipment you’ll need to offer a complete fitness experience, including cardio equipment, free weights, treadmills, weight benches, cardiovascular machines, and other essential pieces of equipment.
You can also offer group classes and group training sessions to help your clients stay accountable and achieve their fitness goals faster.
People who want to train at a 24-hour gym can sign up online, and they receive a schedule so they know when they can train or if they can work out anytime. Like a typical gym, 24-hour gyms may have free classes or charge for workout classes, including workouts for weight loss, endurance, resistance, flexibility, and more.
Some people who use 24-hour gyms do so because they can’t go to a gym at 8 p.m. or 9 p.m. when most gyms usually close.
How To Start A 24-Hour Gym?
If you want to start your own 24-hour gym, you’ll first need to decide if you're going to open a franchise or own the location yourself.
You can either franchise the 24-hour gym concept or open your 24-hour gym. If you want to open a franchise, you and a potential business partner will sign a franchise agreement, and you’ll pay an upfront franchise fee. You and the potential business partner will then split the profits 50/50.
If you want to open your 24-hour gym, you’ll need to get approval from the city and comply with all the applicable laws.
How You’ll Run Your 24-Hour Access Gym
Owning a fitness studio is an extensive undertaking that can yield long-term benefits for your business. A 24-Hour access gym will require you to be prepared for many different scenarios.
You’ll need to be able to stand up to 24-hour traffic, for one, as people will likely want to come to your gym at all hours of the day and night. You’ll also need to handle heavy client loads throughout the week.
Planet Fitness, Anytime Fitness, and Cross-Fit are popular 24-hour access gyms, but they aren't the cheapest gyms in the fitness industry.
The Benefits Of Running A 24-Hour Access Gym
Meet New People
One of the best benefits of starting a 24-hour gym is meeting new people. You can start networking with other trainers and help each other learn new skills.
Build Your Skills
If you’re starting and don’t have any experience in fitness, opening a 24-hour gym can help you build your skills. You can learn by teaching group fitness classes, taking personal training sessions from professionals, and using the equipment at your gym.
Earn Some Extra Cash
One of the primary benefits of owning a 24-hour access gym is the ability to serve a higher average client value. If you don’t currently offer services during standard business hours, owning a 24-hour access gym will allow you to reach a whole new set of clients.
Additionally, the demand for fitness services is on the rise. According to the Fitness Association of America, the number of people who exercise regularly has risen by 3.3% in the last decade.
If you’re ready to take advantage of this increase in demand, owning a 24-hour access gym could be the best decision you make for your business.
The Drawbacks Of Running A 24-Hour Access Gym
Lack Of Experience
If you’re starting, you’ll need to have a lot of experience. You’ll need to know what you’re doing, from paperwork to marketing, to keep your gym running smoothly.
Opening a 24-hour gym is a full-time job, and there are no off-hours. You’ll have to take care of everything from the books to the classes to the equipment. And that doesn’t even include marketing your gym and taking care of your health.
Lack Of Resources
Because 24-hour fitness gym access is new, they don’t have a lot of resources such as 24/7 support, training programs, business advice, and more.
Perhaps the most apparent drawback of running a 24-hour access gym is the difficulty of attracting new clients. Although you’ll be able to serve many existing members during off-peak hours, if you want to expand your clientele, you’ll need to expand your marketing efforts to attract new members.
Depending on your location, if you don’t currently offer 24-hour access services, this could be a difficult task for you. Additionally, you’ll want to prepare yourself for some challenges that may arise in the event of an emergency.
Factors To Consider Before Running A 24-Hour Access Gym
Before you open your 24-hour gym, you’ll need to consider the following things first:
- Who will train?
- Where will they train?
- What will be the price?
- Who will take the classes?
- What types of equipment do you need?
- How will you keep the place ready for customers?
- How will you advertise your gym?
- What is your business plan?
- Who will you hire to help run your business?
Before opening your fitness studio, you should consider several factors. First and foremost, you’ll need to determine if it’s the right career choice.
If you aren’t sure what you’re getting into, it might be better to wait until you’re more experienced and better understand the challenges involved.
Once you know if it’s right for you, you’ll need to consider your location. While many people choose to open a studio and work from home, this may not be the best option for everyone.
Next is the cost. While you won’t have to pay for gym membership costs, you will need to invest in equipment and security. Monthly fees can also add up, so you’ll need to make sure you’re charging enough to cover your costs.
Another is the risk of theft. If you leave your gym unlocked, you could come back to find that someone has made off with your equipment. Ideally, installing security cameras can help to mitigate this risk.
Finally, you need to think about who will be using the gym. If you live in a safe neighborhood, 24-hour security may not be necessary. However, if you live in an area with high crime rates, it may be worth the investment.
You’ll need to weigh the pros and cons of the area you’re considering and ensure it’s a good fit for your business. It’s also important to consider the competition in your area and the size of the potential market.
Should You Open A 24-Hour Access Gym?
One of the main advantages of running a fitness studio is flexibility and autonomy. You can choose to work hours that suit your schedule and work when you want.
The ability to choose your hours makes it possible for your business to run at nearly any time of the day or night. If this appeals to you, opening a 24-hour access gym could be perfect. It’s essential to keep in mind that there are also drawbacks to this flexibility.
Perhaps you enjoy working regular business hours. Or, maybe you have family or other responsibilities that prevent you from working at odd hours.
Owning a fitness studio can be rewarding. As the owner of your own business, you have complete control over your hours and the services you offer.
This flexibility is especially beneficial to those who want to run their studio part-time or on the side while juggling other responsibilities. The biggest challenge you might face is finding space for your studio.
Owning a 24-hour access gym is a great way to get in on the growing popularity of group fitness, though you’ll need to overcome some challenges.
If you have the desire and motivation, it can be a rewarding way to make money. However, it’s important to keep in mind the drawbacks and make sure you’re prepared for them before you dive in.