Learn how to buy your own gym…
As we look forward to this year’s London Marathon, we consider why buying a gym can be a sound business investment
On Sunday, some 40,000 competitors will take part in this year’s London Marathon. One of the big six international city races, it forms part of the World Marathon Majors. Fans across the globe will watch professional athletes complete the course in just over two hours, each vying for a share of the million pound prize purse. Several thousand amateurs will take part too, on what is promising to be the hottest marathon day on record.
All of those fitness fanatics, have-a-go joggers and charity fund raisers sweating it out in fancy dress will have undergone training. Admittedly, some more than most. But lots of them will have pounded treadmills in their local gyms, which now report the highest membership levels of all time. That statistic alone should pique the interest of smart investors and leave them wondering when, where and how to buy a gym.
Industry experts say we are living in the golden age of fitness. One in every seven people is now a member of a gym, helping to generate close to £5billion in annual revenues. On average, 250 new gyms and fitness clubs are opening each year, a trend that is showing no signs of slowing down. Opportunities abound for new sports and fitness start-ups, including several well-known health and fitness franchises. And, if you want to know how to buy a gym that is already successful, there are hundreds of fitness businesses for sale nationwide.
Existing gyms and fitness businesses for sale are a great way to tap into an immediate income stream. Close to 10 million people have already joined a gym. And most of those will have arranged a direct debit to pay their monthly subscriptions, whether they get to work out regularly or not! That said, there are plenty of people still wary of joining gyms as they don’t want to commit to a long-term subscription. So pay-as-you-go gyms have become more of a feature, attracting an even wider audience including those that can’t work out to a fixed schedule. It’s clear, though, that membership and sustained attendance is key to maintaining income, especially with rent, rates and staffing to consider. So the real question you need to ask is how to buy a gym that remains popular all year round.
As the sun comes out and, here in the UK, we experience a rare heatwave, many fitness regimes begin to move outside. So, as the owner of gym, how do you keep your regulars coming in whatever the weather? Like any business that operates in a popular market, gyms need to think creatively to stand out. Having the best equipment and facilities will only get you so far, it’s the added extras that sustain appeal. Whether it’s putting on proven fitness classes, employing the most talented coaches or providing food and entertainment as part of the deal, there are plenty of ways to maintain trade.
As millions sit down to watch the runners compete through the streets of London this Sunday, shrewd investors should consider how much money there is to be made out of fitness these days. The London Marathon might be an annual event, but getting fit is a year-round commitment. Health and wellbeing is part of the zeitgeist of our age, and there’s no doubt the fitness sector is a lucrative industry. For all of you wondering how to buy a gym, you’ll be quickly tapping into that trend.