How to start Gym business In India [Profit, Investments,License]
Nothing can replace the wish to look fit even when people are going through a busy life schedule. With a hectic lifestyle, people these days do not have enough time to invest in fitness. But still, they wish to give some time in the gym and maintain a fit body. According to research, an increased number of people are suffering from Diabetes across ages, and this has become a series of health concern for the majority of the population. Therefore, it will be better if people are able to take out some time from their business schedule and maintain body fitness to stay healthy.
How to get a license for gym business?
For setting up your own gym center, you have to apply for Police NOC in the area in which you will set up the gym. You can apply for it either via online mode or in person. Get to know about more information from the local Police department.
In addition, registering for the gym is also essential. After you have decided to open up the gym, you have to search for a good location. You also have to register for the same from the Indian government as a Private limited firm. This will further help to protect your gym center from any promoters.
How to carry out SSI registration?
Registering the gym under small-scale industry level in the local level is important for protection purpose. For the registration, you have to:
- Apply for registration on a provisional basis after you submit an application based on the gym that you have set up.
- You can start with your business and later on apply for its registration.
What to consider for permanent registration of gym?
- You should have NOC from authorized bodies including society. You should strictly abide by local regulations when planning to open the gym.
- The cost and value of gym equipment and premise should be maintained in details when you open up the gym.
However, the gym should be registered properly in order to maintain service tax.
How to initiate Gym center without any investment?
Starting a gym business without any initial investment can be challenging enough, and therefore, you can go through these steps to make it run smoothly.
- In case of a low budget, you can rent equipment and space inside other gym center or health centers. Other than this, you can also start by providing home-based sessions by visiting your client’s place.
- Try to cut the marketing cost and make the most of verbal marketing, pamphlets including some free resources so that you are able to reach out to your target mass.
- Instead of having top-notch equipment and trainers, try to provide training on your own which will be perfect when you have a tight budget.
How investment and profit margin works in this business?
The investment in this business will depend on the space that you have set up. In addition to this, you will also have to look into the cost of equipment, marketing, and maintenance of the space. The more the square feet of the gym area, the higher the investment amount along with additional expenses of the gym. Therefore, when choosing the area of the gym, make sure that you do not rent extra space and opt for the one that meets your requirement the best.
You also have to look after the profit margin from such a business. Here, it will depend on the area where you have set up the gym. It will also influence the number of customers that you can expect from the area. If you have invested something around 70 lakhs in the business, you can expect to get a return of 17 lakh excluding maintenance and other costs.
Set marketing strategies
Try local people and schools as a means of effective strategy. You can get school and college students to sign up for the gym for a year by providing them with some benefits. Thus, it is evident that it is necessary to offer some discounts in order to grab the attention of customers. Other than this, try to provide some discounts for the ones who have signed up for the gym.
Where to get the target audience for your gym?
- When searching for the target audience, make sure you look for the ones who belong to the corporate sector. They are the ones who are in need of time for fitness amidst their busy schedule.
- Try to approach people from business and corporate class to join the gym. Along with this, you can also target common men and housewives to join the fitness sessions.
- Sportsmen and women are also good choices to approach and ask them to become part of the gym sessions. Plan some different workout sessions to grab their attention. In addition, college and school students can also be targeted in the gym.
How can you start franchisee gym?
If you are planning to open franchisee gym, you have to decide the type of setup that you wish to get. In India, two basic categories of setting up your gym are available.
- Fitness center – This is the expensive one as complete fitness programs are offered to the customers. It includes yoga sessions, martial art, aerobics including weight gain and loss sessions.
- Gym and activity center – This is the common type of setup where practice sessions take place including general cardio exercises that can be done using gym equipment.
Other than these two, there is one more category of setting up the gym which depends on geographical factors. Here, the cost of investment is also high compared to the other category which is often set on a partnership basis.
How can you set up the gym?
- In the first place, you have to set up plans for the establishment. If it happens to be a big investment, it is better to take advice from professionals.
- After you are ready with the planning, you to find out the cost involved in setting up the establishment. Try to make a judicious decision that will help you to avoid any kind of complications in the business.
- Complete the registration process through the local authorities including the franchiser outlet.
- Initially, the entrepreneur has to invest in the equipment. In some cases, you may have to invest some money when planning to get the equipment.
- You also have the option to apply for personal or business loan under reliable banking or other financial institutes.
The Final Words
Therefore, whichever business you are planning to set up, you should go through effective business plans so that you can expect a good return from such investments. You have to plan the business according to your budget so that you do not incur any kind of loss in the initial stage. Go by proper registration procedure in order to avoid any complications in the long run.