Things To Consider Before Starting A Gym Business in Chandigarh
Chandigarh has a high population of youngsters and fitness enthusiasts. The total market for fitness is valued around Rs. 4,670 Cr, growing at 17-19 per cent and is estimated to cross Rs. 7,000 crore by the year 2019. Thus, starting a gym in Chandigarh can be highly profitable. Here’s how you can start a gym business in Chandigarh.
Before establishing your gym, design a business plan. Your business plan should include everything from gym opening cost, setup price, business requirements, goals, and management strategies etc.
A good business plan will guide you throughout the process of setting up your business. The entrepreneur will be able to weigh their business on the basis of facts and figures and will know whether the business is going forward or not.
Before selecting the location for your gym, conduct thorough research about the demographic and area. It is also important to take note of the existing competition in your preferred area. Consider opening a gym where there’s less to no competition. The gym should be on the main road or at a place which is easily visible and people have no trouble reaching the gym.
Get to know your customers
Building a customer profile will help you launch successfully because you’ll know who your ideal members are. Thereby making sales and marketing easier and more effective because you’re not trying to be all things to all people.
For example, how you sell to people joining a premium gym is different to how you sell to students joining a no-frills one.
Quality equipments are really necessary while setting up a gym. Your equipment requirement will largely depend on the type of gym you want to open. Typically gyms catering to a wide section of the audience have various equipments ranging from aerobic exercise equipment, martial art accessories, Zumba Equipment. You can buy or rent the gym equipments on the basis of your budget.
Marketing is an essential element for the success of your business. Strategise your marketing campaign well to target your potential customers and convince them to join your gym. You can also give away introductory discounts and lure them in with special prices on the recommendation of fellow gym members.
Those who want to start their own business or take up franchisees can join in the FRO 2019, happening in Chandigarh on 19-20 January, to know more about the franchise business, financial advice, and business advice from the experts. Meet the investors personally and participate to change the small world of business.