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HOW TO START A GYM BUSINESS IN NIGERIA TODAY

September 30, 2021by ServoNG0

HOW TO START A GYM BUSINESS IN NIGERIA TODAY

In Nigeria today, one of the relatively new businesses is the Gym business. The business is one that is not really practiced as it is only found in just a few places. The gym business gives individuals a chance to come in and work on their fitness and keep fit and live in an healthy way. As the saying goes, Heath is wealth. And indeed one of the major ways of actually staying healthy is by doing exercises and of course, eating well. The business is one of the fast growing businesses in the country with the business having a good chance of making huge profits. It is a lucrative venture and one that many entrepreneurs should look at.

The fitness industry in the country is one of the growing industries in the country. It has just few people practicing the business as even up until just some years back, the business was perhaps one of the neglected or overlooked businesses. One of the reason why it was overlooked was because of the demand which was quite low at the start. Many people didn’t see the need to go to a gym to keep fit. Another is the fact that the cost of setting up and getting equipments are always quite expensive and as a result, entrepreneurs steered clear of the business to look at other options.

The need to keep fit has grown these days and has led individuals to attend gym sessions and get trainers to help them in their journey to full fitness. The business might be costly to start but upon the start of the business, individuals will start making their money. Getting a good location is also very important for the business as it will give you a very good chance of succeeding in the business. Gym owners are mostly individuals with a passion for fitness or people with prior experience in the fitness industry. This, of course, means that you’ll need a certain level of understanding of the business before starting though there is the option of starting the business and having it run by trained experts who will work for your gym.

One of the things that makes the gym business a lucrative and good business to start is due to its fast growing nature. The industry is still in its prime state in the country and it’s constantly developing everyday. Also, if you look at the industry, you’ll find out there are only a few people practicing the business so it gives you room to properly establish your business without having to worry about too many competitors and also it will only be a matter of time before you become one of the key players in the industry.

Starting the business like I’ve mentioned is quite expensive due to the cost of equipments needed for the business. There are quite a number of them that should be made available in the gym and some times they are equipments that are not even regularly found in the country and you might even need to get them from other countries. The capital needed for the business is huge though it becomes worth it when the business starts and you start receiving your customers and making your money. Asides the capital and equipment cost, it’s almost simple from there as all that is left is getting a place and starting properly.

In the next sub heads, I’ll be discussing the steps involved in starting a gym business in Nigeria and some of the neccesary things and key factors that might prove really useful for starting the business and also during the course of running the business to give you a high chance of succeeding at the business.

1. RESEARCH

No matter what you’ve heard someone saying about a business and how well success is assured or how lucrative it would turn out, always try to do your own research. The research will not cost anything except your time and that time will prove to be well spent when the business starts and the successes starts coming in. It is important to do a thorough investigation about the business since you’re going to be investing your money into it and you’ve never been involved in the business. Some hours of research won’t hurt.

The research is always meant to give you an idea of what to expect and the challenges ahead to be faced. It teaches future entrepreneur how the business works and what success means. It shows the risks involved and the ways to tackle them. It also gives ideas on how to sustain the business and work towards more success. Imagine missing out on any of the mentioned points, it’s more like being less equipped about something especially something you plan to spend money on.

There are experts in the business, of course, so also look to advise from these individuals as they are most likely the best bet for reliable information on the business. Take note of even the smallest things during the research period and pay close attention to how to stay and survive in the business. The research is as important as anything in the business.

2. WRITE A BUSINESS PLAN

A business plan needs no introduction. It is equally as important as some of the other processes or things involved in the business. After a comprehensive and thorough research has been conducted, entrepreneurs must now put all their ideas into paper after, of course, deciding to start the business. The business plan will cover things like the way you plan to operate, the cost of several things, how you plan to market your business, future projections and also contingency plans.

The business plan serves a number of purposes. In cases where individuals might need to get investors or even get a loan, it will prove useful as it will contain all that needs to be known concerning the business. It is also going to serve as a point of reference for the proposed business.

3. GET TRAINED AND REGISTERED

Like I’ve mentioned, you can either choose to start the business and employ trainers and experts who will help you run the business or you can do it yourself. If you have no idea of services offered by gyms and how to train your clients, then you need to enroll to be trained to become a fitness expert. It takes time but it will be time well spent when the business starts. After completing the training, you must’ve been fully equipped with information on how to go about certain things relating to the business  After the training, you’re ready to start up the gym. Another thing to be considered after completing your training is to get accredited. It is just as important as the other things required for the business.

4. CAPITAL AND LOCATION

Capital is very important for any business and it serves as the starting point for the business and other production process. The capital helps you acquire all the important things needed for the business. And of course, one of those things includes the location where the business will be operated. When in search for a location, you can do a quick survey in the area where you plan to locate the business and see if people in the area are more inclined to fitness and the type of business you want to bring in. Locating a business in an area where most people don’t even know about fitness activities and the use of gyms is an extremely bad idea. It is better and highly important that you locate the business in a place where people would most likely be welcome to the idea of having a gym around.

5. EQUIPMENTS

There are a number of equipments needed for the business and they are the machines or things that must be found in a gym. There are different types of gyms. Some are just the traditional one where you just come in to exercise, others are for sports-like fitness activities and others have trainers and other sections to cover some specific services needed by customers. The type you choose to run will determine the equipments to be gotten. Basically, the equipments that you’ll mostly find in gyms are treadmills, skip rope, ellipticals, weight pile, rowers, dumbbells, exercise mats, ankle weight, stepper board, ski machine and indoor cycles.

6. MARKET THE GYM AND GET STARTED

Social media is one way you can market the gym. You’ll have to create social media pages for the gym and fill them with pictures of what the gym looks like and services offered there. You can also put updates on the latest things in your gym and choose to educate your followers on the importance of fitness.The use of banners and flyers is also a good way to advertise the gym. After that, the business has fully started and you can start receiving clients for the gym.

The gym business is one business that is not practiced by many but actually has potentials to be a very lucrative business option. If all things are set accordingly and the gym is well located and marketed, then there shouldn’t be a problem with making your money and sustaining the business.


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