Building your own gym business from the bottom up can make for a great investment opportunity, and whilst the initial outlay can seem hefty, there are plenty of ways to turn your start-up costs into tangible profits quickly and effectively. Rather than starting out completely on your own and building up every aspect of the new business from scratch, it is a great idea to consider working with an established franchise which will be able to provide you with the branding, marketing resources, training and support you need to get off the ground swiftly.
Whilst there are initial costs associated with investing in a franchise, with fees generally falling between $50,000 and $70,000 depending on the franchise brand you choose to work with, the benefits of obtaining the professional resources and experienced support and advice of the franchise far outweigh the costs in most cases.
What Are the Start-Up Costs?
As well as the cost of the franchise fees, you will need to have sufficient funds to pay for your initial rental of the premises (plus a security deposit that is likely to come to around three months’ worth of rent) and the fitting out of those premises with all the furniture and equipment your business demands.
There are various ways to keep costs down, so this stage of your start-up can be as expensive or affordable as you choose to make it. On average, however, you should expect to need to set aside between $50,000 and $300,000 on top of your rent and security deposit in order to fit out your new business and get your doors open to the public. You will also have to pay the Goods and Services Tax (GST), which will come to 10% of your franchise cost, thought the good news is that you can claim this back after a few months when you lodge your Business Activity Statement.
How Long Will It Take to Make a Profit?
With fairly significant early costs, the biggest question of all is how long it will take your new business to start making a profit. Of course, no two businesses are exactly the same, but one of the greatest benefits of working with an established franchise is that they will be able to offer you support and guidance based on the experiences of previous franchisees in comparable situations.
Thanks to their tested business models and the established awareness of their brand amongst potential customers in your area, you can be confident you will start to see returns on your investment incredibly quickly. And when it comes to honing and developing your skills and the skills of your team to ensure that you are putting your working hours to maximum use, the franchises training tools and services are bound to be of great value.
From day one, you can start to build multiple streams of revenue so that your business is not relying entirely on regular gym membership payments for its turnover. On top of regular memberships, your gym can also make money through group classes, personal training services and the sale of merchandise. And thanks to the fact that health and fitness is a lifelong commitment and not just a passing fad or temporary hobby, gym businesses are minimally affected by seasonality and benefit from year-round demand for their products and services.
As a result of all of these things, it is very possible that with some initial investment and hard work on your part, your dream of opening your own gym franchise in Australia can be turned not only into a reality, but into a genuinely profitable enterprise that serves as a valued new part of your local community.
The Benefits of Choosing a Ninja Parc Franchise
Opening your very own profitable children’s fitness franchise in your local area is easy when you choose the right franchise partner, and here at Ninja Parc we have been working with new franchisees for years to help them build successful and sustainable businesses. Our approach provides you with everything you need to grow your business, from help with sourcing your property to ongoing maintenance of all your payroll, accounts and marketing needs – allowing you to focus on engaging with your customers and handling the day to day opeartations of your fitness centre.
When you are ready to get started and find out more about the next steps towards your exciting new change of career, you can get in touch with us by filling out the online form available on our website. Our team will then process your information and send you a helpful franchise information pack completely free of charge. Your information pack will give you all the information you need to make a fully informed decision regarding whether working with the team here at Ninja Parc to create your very own children’s fitness centre is the right move for you.