How to Own a CrossFit Gym
If owning a CrossFit gym is your goal, you’ll need to prepare yourself to wear a variety of hats to get your business started and keep it running. As the owner, you’ll need to make crucial decisions daily on everything from maintenance and repairs for safety to special events and contests to boost member engagement.
Whether this is your first time taking a walk on the business side of things or not, keep an open mind, and don’t be afraid to network. You’d be surprised at how much insight and advice you can glean from talking with other professionals in the industry to gain a better understanding of what owning a CrossFit gym entails.
If you’re ready to take your love of CrossFit to new heights and become a box gym owner, you’ve come to the right spot for information to help get you started. Starting a business is not for the faint of heart or anyone who is not willing to put in the work. Consider the following information to help you turn your passion into a successful business.
Consider the Costs
Opening and managing a gym is not cheap. But, if you do things right, you can minimize your startup costs. Most affiliates start from scratch instead of taking over pre-established fitness businesses which leaves them with higher startup expenses initially. To be on the safe side, you should expect to spend several thousand dollars on CrossFit trainer certification and affiliate status, purchasing or leasing equipment, employees, building lease payments, CrossFit Insurance, and more in the first few months alone.
Come Up With a Solid Business Plan
When starting a CrossFit gym, you’ll need to have a solid business plan in place to help keep you on track. There are many steps involved in opening and running a successful gym. Besides coming up with a catchy name, you’ll need to think about what actions you plan to take and the resources you’ll need to implement them to get things started and running.
When choosing an entity, carefully weigh the pros and cons of each type before choosing the one that is most advantageous to your needs and goals. Don’t forget to consider membership and service models as well. Get up to date on the licensing requirements and permits for fitness centers in your location of choice. Laws and regulations vary greatly. Take precautionary measures to ensure your business is compliant before it’s up and running to avoid legal issues that’ll tarnish your gym’s reputation, operations, and profits.
Choose a Practical Facility and Location
Pick a facility that meets local and federal building and zoning requirements. Make sure that you are not choosing a place that has a problematic or spotty repair history or code violations. Tour each building to get a proper feel of the space so you can choose one that allows you to bring your gym’s design and layout to life.
Location is important and can affect your CrossFit gym’s success. The location also has a huge impact on overall fixed costs. You should choose an area that is popular and easily accessible to members. Take time to research options so you can pick a prime location that works with your budget. The right place can help advertise and maximize member traffic.
Prime locations often have higher lease/purchase, repair, and maintenance costs, so don’t forget to keep those in. Don’t feel pressured to go with the first suitable building or space you see. Shop around and do your research to find the right facility in an area that works best with your business budget and operational costs.
Purchase the Right Equipment
The excitement of opening and managing a gym is enough for many new business owners to overlook their equipment needs. There’s nothing wrong with anticipating the needs of future members, but it helps to start with the basics until things have been up and running long enough for you to add more without going over budget or ending up with unnecessary items.
Key items that no CrossFit gym should be without, especially during the first few months include:
- Pull-up bars
- Squat stands
- Rubber floor mats
- Safety apparatuses
- Bumper plates
- Plyometric boxes
When purchasing equipment, keep in mind that you’ll need to set aside funds for repairs and maintenance. You can always add more equipment later as needed to accommodate your gym’s growth.
Optimize Marketing and Advertising
CrossFit is extremely popular, but that doesn’t mean you should rely on its popularity alone to market and advertise your gym. Social media and a strong online presence can help increase your business’s visibility. Research different marketing trends and don’t be afraid to experiment with different strategies to determine what works best to advertise your gym to the masses. Don’t get complacent. Evaluate and adapt your marketing efforts as your business needs change to help ensure its longevity and success.
Contact CrossFit RRG to Get Started
Owning a successful CrossFit gym does not take a rocket scientist. But it does take a lot of research, budgeting, and planning to achieve success. CrossFit insurance is also a necessary and extremely valuable tool for protection against risks.
CrossFit RRG offers a variety of insurance products for affiliates, trainers, and other fitness professionals to minimize the risks and costs of doing business. Contact us at (310) 937-2007 to speak with one of our agents to learn affordable, comprehensive coverage solutions.