-A continuation from Part 1
Some of you will remember from the last post my opinion on the equipment at the first box I attended. Coming from a garage gym where every single piece of gear had purpose and personal investment, and from a weightlifting background where sub par barbells and bumpers can mean life or death, being forced into a situation where I had to muscle through snatches and cleans on bars that don’t spin and with weights that slid off the bar, was frustrating to say the least!
Rule #2: Invest in your business!
The age old saying “you gotta spend money to make money” reigns true in all business ventures, gym ownership included. I get the thought process behind having to live within your means and/or not wanting to be head over heels in debt, I hate the idea of spending money I don’t have to. However the fact of the matter is unless you have a rich dead uncle or a bank full of cash from your previous career (I was a waiter so no luck there), you’re going to have to take out a loan of one kind or another when starting your gym, that’s just what the business is about.
When you do decide to start building out your gym and running up your credit cards you have two options.
Number one: You can look for deals, be cheap, and buy the lowest grade equipment on the market. You will get out of debt quicker, maybe.
Number two: You can look for deals, worry about providing your clientele with the highest quality programming/community/equipment, buy equipment that you are proud to own and to workout on, and trust in yourself to grow a long lasting business.
I’ve found that in our community you attract what you emit. Gym owners and coaches who dedicate everything to becoming the best they can be and provide the best experience for their athletes usually attract clients with similar personalities. Those clients also often tend to be financially sound and successful in their own fields of work. They always pay on time, and they bring positive and motivating energy into each class.
If you don’t put in the work to provide top of the line services, grow an awesome community, and hold yourself to the highest standard, your clients won’t put in the work or be consistent either. People pay for coaches, programming, and a gym membership because they see value in it. The price associated with that value if directly influenced and decided by the attitude in which you conduct your business, exemplify your standards, and invest in the tools of your trade.