Photo by Kelly Sikkema on Unsplash
You want to start your own microgym but you don’t know where to start? Turning your home gym into a microgym can be an exciting process, but is one that requires some attention to detail to ensure your business is set up to its full potential. There are a number of things to take into consideration when it comes to opening a microgym business, all of which we will cover in this guide!
As unfortunate as it may seem, it is not possible to open your own gym business at home overnight. There are a few things you must prepare and know before diving into opening a microgym.
Firstly, it is vital that you earn a fitness certification to boost your credibility. If you plan on offering gym classes or offering trainer services, being able to prove that you are certified to do so is essential for your business’s success. While you may have the knowledge it takes to be a gym trainer, becoming a certified trainer will allow you to prove your skills and qualifications to potential clients.
Though there are multiple associations and organizations that can help you become a certified trainer, The American Council on Exercise is one of the most reputable organizations that offer such qualifications.
Your trainer certification is not going to cut it, shocking? Like most businesses, before you can open the doors of your microgym, you will need to register your business. Business registration requirements vary from state to state and province to province, thus, it is important to research the requirements to license your business in your local area.
Even though you aren’t a chain company or a massive gym, it’s important to lay out the rules for your clients. Having a policy for your gym helps protect you and ensure that you are covered in case of an injury or more which will lead us to the next point. Some things to consider including on a gym policy are keeping the space clean after use, signing waivers, the required hygiene and attire, using the equipment for its intended purpose, not bringing food into the gym, etc. There are many other things you may want to specify in your gym policies, however, these are a few common things found in such agreements.
Investing in insurance is in some cases mandatory, but where it is not, it is very strongly recommended. Investing all your time and money into a business without insurance is a horrible business plan. There are insurance plans designed specifically for small businesses that will help you ensure your hard work does not go to waste after a loss. As a gym facility, the likelihood of an on-site injury sooner or later is high, thus, having the required insurance to protect your company is vital to succeeding in the fitness industry.
There are many insurance plans and companies available to you, giving you the chance to choose the insurance company that offers you the best deal, as well as choosing the plan that is most suitable for the needs of your microgym. Any insurance is already better than none for your business, but finding the plan that works best for your gym is ideal.
Overall, owning a microgym can be an enjoyable and profitable project, however, there are precautions to keep in mind when starting a microgym. If anything seems unclear to you, the best way to resolve any doubts is to hire a lawyer to review your business plan and ensure that your entire operation is being done legally and safely, all while making the most profit possible.
For more helpful information on starting and running a microgym, be sure to visit our page on Steps to Become a Home Microgym.
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