You and I are alike....
We both enjoy the conveniences and intimacy of small town living.
We both aim to make a difference in not just the lives of the ones we love, but also in the small communities we live in.
We both are doers. While some may sit on the sidelines and "talk" about answers, we believe what you do matters more than what you say.
We both have been bitten by the entrepreneurial bug. Owning a small business in a small town has always been a dream we hoped would become a reality.
We both have a passion for fitness, or at the very least, of helping people achieve health and happiness.
Am I right?
And yet, even having those dreams, values, and desires, you still don't own a gym.
Again, I'll make a guess. It's probably due to one of three reasons:
- Lack of finances. Franchise gyms cost +$200k while even small studios can cost $75,000. Banks usually won't make a deal unless there is equity and cash involved.
- Lack of experience/knowledge. You have more questions than answers. You might be confident in your fitness abilities but not your business abilities. Or, you might be confident in your business abilities but not your fitness abilities. Or, you may have no idea how to read a P&L, how to perform a squat, or how to market a gym.
- Lack of confidence. Opening a business is risky. You can easily lose +$100k in 12 months without the right game plan. And what makes matters worse, usually your loved ones and friends aren't supportive of your dream which causes you to constantly second guess yourself. Just when you think you're ready to pull the trigger, you take a step back and "wait for another day."
So, what should you do? Stop and tell yourself it's just a dream? Hire a fitness coach? Take a business class? Grab a handful of business and marketing books and spend countless hours in the library? Just dive in head first without a plan or strategy? All options. Some good. Some bad.
But I think I have an option that you probably haven't thought of, and it just may be your best one.
I want you to think small. Really small. Think about how many members you'd need to be profitable. Think about a model that would allow you to do what you love, but also, step away when you want to and still make money. Think about the lifestyle you desire.
Do you have your answers?
Because if I'm right again, I bet a HomeTown Gym can provide you with everything you want and more.
It's the perfect business for a small town because:
- It's open 24/7, 365 days per year, but it only needs to be staffed for less than 40 hours per week thereby keeping your biggest expense, payroll, at a minimum.
- It's affordable to start and even more affordable to operate so you don't need a huge market to turn a profit. 300 is your magic number. 1 full-time employee, no inventory, and recurring revenue via long-term contracts make it appealing for small markets.
- Cheap rent and a surplus of buildings in small towns make finding a location that doesn't break the bank easy.
- It's the answer to the complaint every person living in a small town says - "There's nothing to do here."
- Most importantly, the model has been successful in a town of 3,200 for almost 10 years now and a town of 5,000 for almost 4 years now. Read about their success stories by clicking here.
Want to learn more? Go here.