2. Develop a Strong Brand

To differentiate your business, it’s critical to define what’s unique about your brand. This sets the tone for everything you do, and includes knowing:

● Who is your target demographic?

● What does your brand represent?

● How is your brand different from competitors’?

● What is your brand’s tone of voice?

“Your brand is everything,” Saracco says. “Look to some of the most successful brands inside or outside of the industry for inspiration. I’ve seen way too many new gym owners underestimate the importance of building a strong brand.”

3. Do a Thorough Analysis of Location Targets

When evaluating locations, have a market analysis prepared to assess local demographics; competitors; visibility; vehicle and foot traffic patterns; parking accommodations, including ease of entering and exiting the property; and neighborhood growth trends.

“It’s imperative to consider factors other than just the size of the space and the rent, so make sure you fully understand the data in the market analysis,” Saracco says. “Many first-time gym owners fall in love with a building before they do their homework and end up making a poor choice.”

4. Research Construction Costs, Permits, and Other Buildout Factors

Every location may have its own permitting requirements, unionized labor mandates, inspections, and more. Saracco recommends contacting the local chamber of commerce for details and asking architects and landlords for referrals to contractors.

When hiring contractors, always check references. Research each contractor’s work quality, price, and mark-up on materials. Get multiple bids to find the best fit for your business. And be realistic: Costs and timelines can vary greatly by location.

5. Hype Your Opening With a Presale

A presale is essential to open your facility either at break-even or profitably. Map out a strategy, determine your pricing, and set your timeline for outreach, such as three to six months before the grand opening.

“My clients start the hype very early and build up a significant database of leads before we send any paid piece of marketing,” Saracco says. “Then, be sure to train your team very well before they start selling your new brand. Proper planning, purpose, and people make a huge difference in executing a great presale.”