Private gym/personal training studio...good idea??

[Martin]

Hi

I am thinking about opening a private training studio in London (not sure which part as yet?).

My idea is to fill a well sized studio with lots of good equipment and then rent the space out to personal trainers to run their sessions.

Before I start throwing time and money into this idea I would like to know from some qualified and experienced PTs:

- If you think this is a workable idea? i.e - Is there much demand for something like this?
- If so, what type of equipment you would like to see in the gym?
- And, what price you would be willing to pay for exclusive use of such a facility?

Any advice or feedback would be greatly appreciated?

Thanks!

Martin

[Pove]

Hi Martin,

Can you clarify something please, you mention renting the gym to PT's, as in plural but then state a rent based on exclusive use? By that term do you mean exclusively to PTs, so there will be multiple PTs working at the same time or are you suggesting each PT rents the space for a specific time slot?

Cheers :)

Pove

[Martin]

Hi Pove

My idea is to rent the gym/studio for specific timeslots to PTs with there being no more than 2 (PTs + their clients) using the space at one time. But also offer the opportunity to PTs to pay for exclusive use of the gym for them and their client or clients if they perhaps want to run a small class.

Again, this is my idea at the moment but I really want to hear from you guys to see if you think it would be a popular idea among PTs and what things you would do differently to make it better?

Thanks!

Martin

[Pove]

Hi Martin,

I guess I'm not the best PT to respond as I already work out of a gym and I'm used to paying rent (£500 a month) but that gym is a membership gym so I have access to their members as well as facilities which is a great trade off as I have little to no marketing to do as potential clients (over 4000) are on site waiting to be sold too :)

Your target market is PT's already with clients looking for a space to train so the use of facilities will be an overhead with no other benefit - apart from the equipement and space of course. I guess, as with most things in life, it is essentially going to come down to money and how much you would charge and if the price of that charge brings down the profit of the PTs session too much - kind of an obvious statement I know but it's hard to judge when you haven't got any prices to work from. But I wouldn't want more than 1/6 of my session price to be paid out for rent.

Will the fee structure be session based or a monthly fee for certain amount of slots and will certain time slots be higher price than others? or are you just in the brainstorming phase and dont know yet?

Client parking and shower & changing facilities might be other considerations.

I guess your best place for market research is to ask the actual PTs in the area you are considering for a location, only those guys, who are your actual target market will tell you whether or not they would make use of such a facility.

Hope that helps