{"id":27005,"date":"2023-06-19T14:30:34","date_gmt":"2023-06-19T14:30:34","guid":{"rendered":"https:\/\/swoopfunding.com\/ca\/?post_type=start-a-business&#038;p=27005"},"modified":"2025-02-26T20:04:50","modified_gmt":"2025-02-26T20:04:50","slug":"gym","status":"publish","type":"start-a-business","link":"https:\/\/swoopfunding.com\/ca\/start-a-business\/gym\/","title":{"rendered":"Gym business"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"27005\" class=\"elementor elementor-27005\" data-elementor-post-type=\"start-a-business\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3b3fcd2d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3b3fcd2d\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-78c7fa95\" data-id=\"78c7fa95\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-55d0851d elementor-widget elementor-widget-text-editor\" data-id=\"55d0851d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tIf you\u2019re a fitness professional or personal trainer and you fancy running your own gym, it\u2019s important to understand exactly what\u2019s involved, how much it\u2019s going to cost you and how you\u2019ll finance it. Read this guide to find out everything you need to know.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6dda3f4d elementor-align-center elementor-widget elementor-widget-button\" data-id=\"6dda3f4d\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md\" href=\"https:\/\/app.swoopfunding.ca\/stage\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Get a quote<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-67e369c2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"67e369c2\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1d6348ef\" data-id=\"1d6348ef\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e2bbc50 elementor-widget elementor-widget-ucaddon_aivoov_player\" data-id=\"e2bbc50\" data-element_type=\"widget\" data-widget_type=\"ucaddon_aivoov_player.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t<div class=\"aivoov-player-block\">\n\t<div class=\"read_this\">Read this article to me<\/div>\n\t\t\t<style>\n\t\t\t.plyr__controls .plyr__controls__item:first-child{\n\t\t\t\tbackground:#2e9c8e !important;\n\t\t\t}\n\t\t\t:root{\n\t\t\t--plyr-color-main:#2e9c8e;\n\t\t\t--plyr-audio-controls-background:#f0f2f4;\n\t\t\t--plyr-audio-control-color:#546a7b;\n\t\t\t}\n\t\t\t[data-plyr=\"mute\"]{color:#2e9c8e !important}\n\t\t\t.aivoov-text-color{color:#546a7b}\n\t\t<\/style> \n\t\t<div class=\"audio_player\">\n\t\t<audio class=\"js-player\" controls=\"\">\n\t\t\t<source src=\"https:\/\/monky-voice-over.s3.amazonaws.com\/aivoov\/781640cc-7bc1-4bbf-9492-22dedc19678b\/9d107cc2-3e90-4815-a260-1d8b32263382.mp3\" type=\"audio\/mp3\">\n\t\t\t<source src=\"https:\/\/monky-voice-over.s3.amazonaws.com\/aivoov\/781640cc-7bc1-4bbf-9492-22dedc19678b\/9d107cc2-3e90-4815-a260-1d8b32263382.mp3\" type=\"audio\/ogg\" \/>\n\t\t<\/audio> \n\t\t\t\t <div class=\"powerd_by aivoov-text-color\"><p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/aivoov.com\/?um_source=plugin_powered_by\" style=\"color: inherit;\">Powered by AiVOOV<\/a><\/p><\/div>\n\t\t \n\t\t<\/div>\n\t\t<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c43202c elementor-widget elementor-widget-heading\" data-id=\"c43202c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What are the steps to opening a gym?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-10b065e elementor-widget elementor-widget-text-editor\" data-id=\"10b065e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">Opening a gym requires a lot of work, but the steps below can help get you started:<\/span><\/p><p style=\"text-align: left;\">1. Check you have the right qualifications and skills<\/p><p style=\"text-align: left;\">2. Research licensing<\/p><p style=\"text-align: left;\">3. Find the right premises<\/p><p style=\"text-align: left;\">4. Consider insurance<\/p><p style=\"text-align: left;\">5. Acquire gym equipment<\/p><p style=\"text-align: left;\">6. Hire staff<\/p><p style=\"text-align: left;\">7. Market your gym <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7b3bb6e8 elementor-widget elementor-widget-text-editor\" data-id=\"7b3bb6e8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h3><strong>1. Check you have the right qualifications and skills<\/strong><\/h3><p><span style=\"font-weight: 400;\">To run your own gym, you\u2019ll need to have good people skills and be prepared to work long hours. Remember that most gym users will have jobs of their own which means they\u2019ll often want to work out in the early morning or evening.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">You\u2019ll also need a minimum of a Level 2 qualification as a fitness instructor which you can complete in-person or online. You and any employees should have adequate safety training and you\u2019ll need an appropriate number of first aiders on site too.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">It\u2019s important to familiarise yourself with the <\/span><a href=\"https:\/\/www.hse.gov.uk\/legislation\/hswa.htm\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Health and Safety at work etc Act 1974<\/span><\/a><span style=\"font-weight: 400;\"> and The Management of Health and Safety at Work Regulations 1999.<\/span><\/p><h3><strong>2. Research licensing<\/strong><\/h3><p><span style=\"font-weight: 400;\">Make sure you understand what licensing you\u2019ll require. This will depend on the range of activities you plan to offer.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">For example:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If you plan to sell or prepare food on the premises, you\u2019ll need to register with your <\/span><a href=\"https:\/\/www.gov.uk\/food-business-registration\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">local authority environmental health department<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If you want to show live television programmes, you\u2019ll need television licence from <\/span><a href=\"https:\/\/www.tvlicensing.co.uk\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">TV Licensing<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If you want to play music during gym sessions, you\u2019ll need to buy <\/span><a href=\"https:\/\/pplprs.co.uk\/themusiclicence\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">The Music Licence<\/span><\/a><span style=\"font-weight: 400;\"> for your premises. You\u2019ll then be legally licensed to play music for your customers through the radio or other digital devices.<\/span><\/li><\/ul><p><span style=\"font-weight: 400;\">You\u2019ll also need to pay a data protection fee to the <\/span><a href=\"https:\/\/ico.org.uk\/for-organisations\/data-protection-fee\/change\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Information Commissioner\u2019s Office<\/span><\/a><span style=\"font-weight: 400;\"> if you are processing personal information from your customers.\u00a0<\/span><\/p><h3><strong>3. Find the right premises<\/strong><\/h3><p><span style=\"font-weight: 400;\">Finding the right premises can take a lot of time and research. You\u2019ll need to think carefully about the location and consider whether each premises you view has sufficient parking, office space and room for showers and changing facilities. Also think about whether you want to buy or lease the property.<\/span><\/p><p><span style=\"font-weight: 400;\">Some properties are sold as going concerns which means that you can simply take over the gym ownership and you won\u2019t need to make many changes to the layout. Some might also come with planning permission to extend the premises.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">You will also need to double check whether the sale is for the franchise only, or whether you\u2019ll have ownership of the actual premises.\u00a0<\/span><\/p><h3><strong>4. Consider insurance\u00a0<\/strong><\/h3><p><span style=\"font-weight: 400;\">There are a number of business insurance policies you\u2019ll need to take out when running a gym. These include:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><b><a href=\"https:\/\/swoopfunding.com\/uk\/business-insurance\/public-liability-insurance\/\">Public liability insurance<\/a>:<\/b><span style=\"font-weight: 400;\"> This covers you in the event a member of the public is injured or their property is damaged while they\u2019re using your gym. It can cover your legal costs and any compensation you might be required to pay.<\/span><\/li><\/ul><ul><li aria-level=\"1\"><b><a href=\"https:\/\/swoopfunding.com\/uk\/business-insurance\/employers-liability-insurance\/\">Employer\u2019s liability insurance<\/a>: <\/b><span style=\"font-weight: 400;\">This is a requirement if you have employees as it covers you in the event a member of staff is injured in the workplace or as a result of the work they carry out for you.<\/span><\/li><\/ul><ul><li aria-level=\"1\"><b>Buildings and contents insurance: <\/b><span style=\"font-weight: 400;\">You won\u2019t need buildings insurance if you don\u2019t own the premises, but contents insurance will ensure all your gym equipment is protected against damage and theft.\u00a0<\/span><\/li><\/ul><ul><li aria-level=\"1\"><b>Cyber insurance: <\/b><span style=\"font-weight: 400;\">This will protect against cyber hackers accessing clients\u2019 files and bank details.<\/span><b>\u00a0<\/b><\/li><\/ul><h3><strong>5. Acquire gym equipment<\/strong><\/h3><p><span style=\"font-weight: 400;\">Consider exactly what <a href=\"https:\/\/swoopfunding.com\/business-loans\/asset-finance\/gym-equipment-finance\/\">gym equipment<\/a> you need \u2013 whether that\u2019s treadmills, exercise bikes, cross trainers or weight sets \u2013 and how you\u2019ll acquire them. You might prefer to buy the equipment outright if you\u2019ve got the cash available, or you might prefer to lease them. Both have their pros and cons so consider what works best for you.<\/span><\/p><h3><strong>6. Hire staff<\/strong><\/h3><p><span style=\"font-weight: 400;\">If you have a small gym, you might only need two or three members of staff. But larger gyms are likely to need a lot more and tend to have instructors with a range of skills and approaches. Make sure you check their qualifications carefully before hiring and, depending on their role, consider holding test classes or personal training sessions as part of the interview process.<\/span><\/p><h3><strong>7. Market your gym\u00a0<\/strong><\/h3><p><span style=\"font-weight: 400;\">Finally, you\u2019ll need to build a website and market your gym in the right way. Consider online marketing, advertising in local newspapers or directories, and using flyers and posters. Also be sure to set up social media profiles to help get the word out.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d869bae elementor-align-center elementor-widget elementor-widget-button\" data-id=\"d869bae\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/app.swoopfunding.ca\/stage\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Apply now<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3a32811 elementor-widget elementor-widget-heading\" data-id=\"3a32811\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How much does it cost to open a gym?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bdcfce8 elementor-widget elementor-widget-text-editor\" data-id=\"bdcfce8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">The costs of opening a gym will depend on a range of factors, including the size of the premises and its location, whether you\u2019re planning to launch a budget gym or a premium one, how much equipment you need and how many members of staff you require. You\u2019ll need to factor in both one-off and ongoing costs when doing your calculations.<\/span><\/p><h3><strong>One-off costs<\/strong><\/h3><p><span style=\"font-weight: 400;\">One-off costs you\u2019re likely to incur to get your gym up and running include:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Initial deposit for commercial space\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Building renovations and decorating work<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Gym equipment (if buying, this could cost around \u00a335,000 to \u00a340,000 for 200 members)<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Licences and permits<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Signage<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Employee uniforms<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Building a website<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Computer networks and POS systems so you can take payments\u00a0<\/span><\/li><\/ul><p><span style=\"font-weight: 400;\">One-off costs could come to between \u00a375,000 and \u00a3100,000, if not more.<\/span><\/p><h3><strong>Ongoing costs<\/strong><\/h3><p><span style=\"font-weight: 400;\">On top of this, you\u2019ll also need to brace yourself for a range of ongoing costs to keep your gym running smoothly. These include:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Staff wages<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Taxes<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Insurance<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Lease or mortgage payments<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Utility bills<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Maintenance and repairs<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Cleaning supplies<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Marketing costs<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Training<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Basic gym supplies<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Accountancy costs\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Gym equipment (if leasing, this could cost around \u00a32,000 to \u00a32,500 a month)<\/span><\/li><\/ul><p><span style=\"font-weight: 400;\">You could be looking at ongoing costs of around \u00a320,000 or more each month.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-55b9509 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"55b9509\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/app.swoopfunding.ca\/stage\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Apply now<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-674a3245 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"674a3245\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4ce089dc\" data-id=\"4ce089dc\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3cbc3a0 e-flex e-con-boxed e-con e-parent\" data-id=\"3cbc3a0\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2732a05 elementor-widget elementor-widget-heading\" data-id=\"2732a05\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How to finance opening a gym<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-10cdfcf elementor-widget elementor-widget-text-editor\" data-id=\"10cdfcf\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">If you need to borrow funds to help you get set up, here are some of the options to consider:<\/span><\/p><h3><strong>Asset finance<\/strong><\/h3><p><span style=\"font-weight: 400;\">If you need funding to help you acquire gym equipment, such as treadmills and cross trainers, <\/span><a href=\"https:\/\/swoopfunding.com\/business-loans\/asset-finance\/\"><span style=\"font-weight: 400;\">asset finance<\/span><\/a><span style=\"font-weight: 400;\"> is worth looking into. You can usually choose between hire purchase and leasing.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Hire purchase means you affectively hire the equipment from the lender and pay for it in monthly instalments over time. Once you\u2019ve made the last monthly payment, you\u2019ll own the equipment.<\/span><\/p><p><span style=\"font-weight: 400;\">With leasing, you rent the equipment from a finance provider and then pay a regular fixed fee over a set term, with interest added. At the end of the term you might be able to pay a lump sum to buy the equipment, continue to lease it or cancel the agreement.\u00a0<\/span><\/p><h3><strong>Business loan<\/strong><\/h3><p><span style=\"font-weight: 400;\">A <\/span><a href=\"https:\/\/swoopfunding.com\/uk\/business-loans\/\"><span style=\"font-weight: 400;\">business loan<\/span><\/a><span style=\"font-weight: 400;\"> is a popular way for businesses to borrow money. The funds are paid to you as a lump sum and you can then use them however you require. You repay the amount borrowed in monthly instalments over a set term, with interest added.\u00a0<\/span><\/p><p><a href=\"https:\/\/swoopfunding.com\/loans\/unsecured-business-loans\/\"><span style=\"font-weight: 400;\">Unsecured business loans<\/span><\/a><span style=\"font-weight: 400;\"> are offered by mainstream banks and let you borrow without the need to secure the loan against any business assets. <\/span><a href=\"https:\/\/swoopfunding.com\/loans\/secured-business-loans\/\"><span style=\"font-weight: 400;\">Secured business loans<\/span><\/a><span style=\"font-weight: 400;\">, on the other hand, let you borrow a larger sum of money but you\u2019ll need to use an asset such as property or equipment as security. That means if you\u2019re unable to repay the loan, the lender can sell the assets to recoup the cost of the loan.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">You might also qualify for a <\/span><a href=\"https:\/\/swoopfunding.com\/uk\/business-loans\/startup-loans\/\"><span style=\"font-weight: 400;\">startup loan<\/span><\/a><span style=\"font-weight: 400;\"> which is designed to help new businesses launch and grow. The main source for startup loans is the UK government backed startup loan scheme.<\/span><\/p><h3><strong>Franchise finance<\/strong><\/h3><p><span style=\"font-weight: 400;\">Rather than starting your own gym from scratch, you could consider <\/span><a href=\"https:\/\/swoopfunding.com\/uk\/blog\/how-to-buy-and-open-a-franchise\/\"><span style=\"font-weight: 400;\">buying a franchise<\/span><\/a><span style=\"font-weight: 400;\"> instead. To do this, you\u2019ll need to pay a franchising fee to a larger company and you then open the gym in a new location in that franchise\u2019s name.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">If you choose to go down this route, you might want to apply for <\/span><a href=\"https:\/\/swoopfunding.com\/uk\/business-loans\/franchise-finance\/\"><span style=\"font-weight: 400;\">franchise finance<\/span><\/a><span style=\"font-weight: 400;\">. Many <a href=\"https:\/\/swoopfunding.com\/uk\/business-glossary\/high-street-bank\/\">high street banks<\/a> have specialist franchise teams that can help you. However, they will often only fund between 50% and 70% of your total set up costs, so you might need to find further funding to help you with additional costs. <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-bc5c737 e-flex e-con-boxed e-con e-parent\" data-id=\"bc5c737\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-daad523 elementor-widget elementor-widget-heading\" data-id=\"daad523\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Common mistakes when opening a gym<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d5f7e16 elementor-widget elementor-widget-text-editor\" data-id=\"d5f7e16\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">When opening a gym, you\u2019ll often face a number of challenges and it\u2019s common to make a few mistakes along the way. Below is a list of some of the mistakes to watch out for:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Starting up without a client base:<\/b><span style=\"font-weight: 400;\"> It\u2019s important to have a list of clients who have agreed to join your gym before you open your doors, as you\u2019ll need to start generating revenue straightway.\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Not investing in high-quality equipment.<\/b><span style=\"font-weight: 400;\"> Good-quality equipment might cost you more initially, but gym equipment takes a lot of abuse and if yours isn\u2019t up to it, it will cost you more in the long run when you have to replace it. Buying used equipment means you\u2019ll sacrifice the full manufacturer\u2019s warranty and up-to-date technology.\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Forgetting about training and accreditation.<\/b><span style=\"font-weight: 400;\"> It\u2019s vital that you and your staff have proper training and accreditation to help your customers meet their goals. Without it, your business could lose all credibility.\u00a0<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Forgoing gym management software.<\/b><span style=\"font-weight: 400;\"> You need your gym to operate efficiently and smoothly and that means ensuring you have the necessary software to deal with membership renewals, billing schedules and other administrative tasks.\u00a0<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-be64ab0 elementor-widget elementor-widget-heading\" data-id=\"be64ab0\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Get started with Swoop's business funding platform<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-71b77e22 elementor-widget elementor-widget-text-editor\" data-id=\"71b77e22\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">If you\u2019re unsure how to get funding for your new gym business, the team of experts at Swoop will be happy to talk through your options and help you find the best solution.\u00a0<\/span><span style=\"font-weight: 400;\">Get in touch today.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-39dc8861 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"39dc8861\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/app.swoopfunding.ca\/stage\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Apply now<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"author":22,"featured_media":0,"parent":0,"template":"","start-a-business-sectors":[339],"class_list":["post-27005","start-a-business","type-start-a-business","status-publish","hentry","start-a-business-sectors-business-ideas"],"acf":[],"featured_image_urls_v2":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","image_blog":"","image_podcast":"","image_banking":"","image_blog_internal":"","image_blog_medium":"","image_single_banking":""},"post_excerpt_stackable_v2":"<p>If you\u2019re a fitness professional or personal trainer and you fancy running your own gym, it\u2019s important to understand exactly what\u2019s involved, how much it\u2019s going to cost you and how you\u2019ll finance it. Read this guide to find out everything you need to know. Get a quote What are the steps to opening a gym? Opening a gym requires a lot of work, but the steps below can help get you started:1. Check you have the right qualifications and skills2. Research licensing3. Find the right premises4. Consider insurance5. Acquire gym equipment6. Hire staff7. Market your gym 1. Check you&hellip;<\/p>\n","category_list_v2":"","author_info_v2":{"name":"Rachel Wait","url":"https:\/\/swoopfunding.com\/ca\/author\/rachel-wait\/"},"comments_num_v2":"0 comments","_links":{"self":[{"href":"https:\/\/swoopfunding.com\/ca\/wp-json\/wp\/v2\/start-a-business\/27005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/swoopfunding.com\/ca\/wp-json\/wp\/v2\/start-a-business"}],"about":[{"href":"https:\/\/swoopfunding.com\/ca\/wp-json\/wp\/v2\/types\/start-a-business"}],"author":[{"embeddable":true,"href":"https:\/\/swoopfunding.com\/ca\/wp-json\/wp\/v2\/users\/22"}],"version-history":[{"count":17,"href":"https:\/\/swoopfunding.com\/ca\/wp-json\/wp\/v2\/start-a-business\/27005\/revisions"}],"predecessor-version":[{"id":38577,"href":"https:\/\/swoopfunding.com\/ca\/wp-json\/wp\/v2\/start-a-business\/27005\/revisions\/38577"}],"wp:attachment":[{"href":"https:\/\/swoopfunding.com\/ca\/wp-json\/wp\/v2\/media?parent=27005"}],"wp:term":[{"taxonomy":"start-a-business-sectors","embeddable":true,"href":"https:\/\/swoopfunding.com\/ca\/wp-json\/wp\/v2\/start-a-business-sectors?post=27005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}