Hello all,
I'm interested in starting a gym about three years from now with my wife when I leave the military. She's been doing gymnastics since she was 10 and competed as a level 9. For the last nine years or she has been coaching classes and team. I have always dreamed of starting a business and my degree is in business administration. Our skills would compliment each other very well.
We have been looking for awhile and getting an idea of startup costs but I wanted to hear from some others who have done it. Right now I have about 50k in investments. About a 30k lost in the last year due to the market hasn't helped any. Assuming the market comes back at least 20% in the next year I should have close to 100k to put towards the business by the time I get out. To be conservative lets us say I'll only have 75k.
My main question is how much did you start your gym with and what did it go towards?
Given a limited budget what are the most important things to buy and what can you get by without for the first six months to a year?
Thanks you,
Jason
I'm interested in starting a gym about three years from now with my wife when I leave the military. She's been doing gymnastics since she was 10 and competed as a level 9. For the last nine years or she has been coaching classes and team. I have always dreamed of starting a business and my degree is in business administration. Our skills would compliment each other very well.
We have been looking for awhile and getting an idea of startup costs but I wanted to hear from some others who have done it. Right now I have about 50k in investments. About a 30k lost in the last year due to the market hasn't helped any. Assuming the market comes back at least 20% in the next year I should have close to 100k to put towards the business by the time I get out. To be conservative lets us say I'll only have 75k.
My main question is how much did you start your gym with and what did it go towards?
Given a limited budget what are the most important things to buy and what can you get by without for the first six months to a year?
Thanks you,
Jason