As an entrepreneur, you have to find something that is going to make you money. Is it something that you know makes money? Something that is a hobby of yours? The possibilities are endless. When it comes to having your own startup, you want something that you are going to stick money into and work hard to make it successful. Owning a gym can be a rewarding experience, especially for those who care about fitness. But, it will take you a lot of time and money to make this dream come true. So, how to become a gym owner and how much does a gym owner make?
What is a Gym Owner and What Do They Do?
A gym owner is responsible for the management of a gym. A gym owner usually has a background and skills relating to fitness, or at the very least, have a passion for fitness and wants to help other people with their own fitness.
Some of the duties of a gym owner include:
- Create and release marketing
- Hire and manage staff
- Manage finance
- Maintain relations with shareholders
- Handling customer service
- Maintain gym equipment and the gym itself
- Creating new programs
- Ensure that all safety and health regulations are up to date
Gym Owner Outlook and Salary
Being a gym owner can be a lucrative experience. However, it all depends on various factors like location and state as well. A gym owner can expect to make anywhere between $50,000 to $85,000 a year. But, as previously stated, this will depend on what state you are in, competition, how much your gym is being used, size, and even your own qualifications matter.
The Bureau of Labor Statistics states that being a gym owner will have a steady average rate over the next decade. This is because of the rising popularity of fitness and health. Because of this, many people are turning to gyms to help boost their health.
How to Become a Gym Owner
One does not simply buy a gym and hope for success.
Background and Schooling
For starters, it is best that a gym owner can back up what they do with their own background. They should have a bachelor’s degree in an area like exercise science, kinesiology, sports management, and even business.
If you are in school now for becoming a gym owner then you will want to take other classes that would pertain to your role such as accounting, marketing, and leadership. Because fitness coincides with health, it would also be smart to take classes on nutrition and medicine.
The Certified Personal Trainer Program
You don’t need one to be a gym owner, but having a personal trainer certificate is good to build out your resume and gain experience and skills. Below are organizations to reach out to for a certificate. However, they each have their own guidelines and benefits.
- National Academy of Sports Medicine (NASM)
- International Fitness Trainers Association (IHTA)
- American College of Sports Medicine (ACSM)
Gain Experience in the Fitness Industry
Honing your skills and gaining experience is what is going to help you quite a bit in this endeavor. Work at your local gym or sports club. There, you can learn all about fitness and how to run a fitness business.
You could even be your own independent personal trainer. That allows you to build up your client base and earn money that way. This option gives you the opportunity to work on your marketing, communication, and leadership skills.
Just like any other business, a gym is a lot of work and responsibility. In this job field, it is best to have an understanding of what you are getting yourself into. Fitness involves medicine, sports, health, and more. In this case, it is recommended that you have a background in fitness. Having that background like working at a gym or even being a fitness trainer is key to being a successful gym owner.
Through your time working in the fitness industry, you will be picking up many skills. This can include, marketing, accounting, communication, social, leadership, and much more.
Just like fitness, take your time and don’t overdo it. Before long, you will have a gym swarming with people seeking to make themselves healthier. And they have you to thank!