How much does it cost to set up a gym? - Complete list of expenses

If you've made it this far, you probably are you considering Opening a gym or some type of business related to fitness, wellness, or sports. As you surely already know, one of the fundamental pillars when embarking on a business is to make a detailed list of the Expenses involved in opening and maintaining all parts of the business. Therefore, if you're wondering how much it costs to set up a gym , we've prepared a... complete list of expenses that There are several things you should consider before embarking on this project. With this information, you can decide whether investing in a gym is a viable option for you.

If you're wondering how much it costs to open a gym in Spain , you should know that it depends on many factors. Some of these include the size, the province, the location of the gym, the quality of the equipment, the technology used, and the overhead and personnel costs associated with the type of service you want to offer. Now, you're probably looking for a more specific answer. Well, generally speaking, the cost of opening a gym can range from €50,000 to €500,000 .

We know you haven't found the specific figure you needed, but you should understand that this is an average number and the actual cost can vary greatly depending on the size and scope of the gym. Are you opening a small neighborhood gym ? Are we talking about a CrossFit facility ? Are you thinking about a premium or standard user profile? Or are you thinking about... Open a low-cost gym ? As you can see, the price range can be very wide or narrow.

Therefore, for a To get an accurate estimate of expenses , it's always advisable to seek the help of an accounting expert, a business advisor who can perform a detailed financial analysis, and, of course, a... A company with experience in opening new gyms . This company can contribute its expertise and support you in your new adventure of setting up a gym from scratch . At Bodytone, we offer you the opportunity to partner with a company of proven quality.

List of expenses for setting up a gym

If you'd like to take things more slowly, we'll continue helping you create a realistic budget. To do this, we've compiled a comprehensive list of expenses you should consider before opening a gym . With this information, you can make an informed decision about whether... Investing in a gym is an interesting option for you.

INDEX

1. Facilities and equipment.
2. Renting or buying a premises.
3. Staff recruitment.
4. General daily operating expenses.
5. Business activity expenses, licenses and certificates
6. Promotional expenses.

Below, we expand on some of the overhead costs associated with opening a gym:

Renting or buying a gym space

This can be one of the biggest costs associated with opening a gym , especially if you're looking for a space in a central or high-traffic location. We'll leave it up to you to estimate this cost. You'll need to consider rental or purchase prices in your area, as well as in the specific neighborhood or location where you plan to open.

Our recommendation is that you look for data on the average rental cost of commercial premises in the town where you're planning to open your gym . You can refine your estimate much more precisely if you already have the area in mind and know the approximate cost per square meter there. Once you have that information, it's a matter of estimating the expenses based on the square footage of the facility you have in mind.

Let's imagine the average rental price in your target area is €10 per square meter. A simple rule of three would then be used to estimate the monthly cost based on the size of the property:

Then you'll have the costs associated with adapting the premises. On the one hand, there's the necessary renovation; on the other, the building permit required for minor or structural modifications, as the case may be.

If you have any further questions about the location, or need personalized advice, we at Bodytone can help. We have a team of experts ready to assist you throughout the entire process.

Sports facilities and equipment for the Gym

This includes everything from purchasing fitness equipment and gear to building and renovating facilities to meet specific needs. You can find more information on our Gym Equipment page , as well as downloadable resources showcasing all the types of machines we offer at Bodytone. Flexible financing options to help you set up your gym . Don't miss the opportunity to learn more from us.

Costs of hiring sports staff

Another significant expense is related to hiring specialists in sports, leisure, health, nutrition, and other related fields. This includes personal trainers, sports instructors, nutritionists, physiotherapists, receptionists, and other employees needed to run the gym . You don't even have to hire them all. You might be able to manage on your own or only need one assistant. It's up to you.

In this regard, we recommend that you make a list of the staff you will need (trainers, receptionists, physiotherapists, cleaning staff, etc.). Once you have the list, you will need to decide whether you will need to hire someone full-time or outsource the service through a company or freelancer. Once you have this list, you will need to calculate the associated costs, including fees in the case of external hiring, or other costs. Salaries and social security contributions . Here is a link to theaverage salaries by profession in Spain, according to the INE (National Institute of Statistics ).

Business activity expenses, licenses and certificates

Of course, you'll need to consider the expenses associated with running a gym : business registration taxes or monthly self-employment contributions, and the various licenses required . These licenses vary depending on the Autonomous Community where you are located.

To give you an idea, some communities or towns will require an activity license, which generally requires a technical project for the premises, an environmental control certificate, etc. Additional expenses that can add between €1,000 and €2,000 to the project.

Therefore, the best advice we can give you is that You should seek information from the professional association for physical activity and sports in your community. They will be able to advise you on this matter. This type of information can also be obtained from an advisor, should you decide to hire one. The advisor can also contact your local council to obtain information on all the necessary requirements. It's an investment we believe is worthwhile.

General daily operating expenses

When we talk about the overhead costs of running a gym , we're referring to fixed expenses such as electricity, water, and gas, insurance payments, and permits and licenses, among others. These will be your gym's fixed monthly expenses , most of which you'll have to cover and include in your budget.

It will be difficult to estimate an exact amount , as it will largely depend on the size of the premises and the energy consumption of its facilities . Therefore, we recommend, once again, that you seek professional advice. It's also a good idea to talk to acquaintances who own a gym or, at least, similar businesses or establishments in the area. They can give you an estimate of the expenses for this item, based on consumption that might be similar to that of your future gym.

Promotional expenses for your fitness business

In addition to these costs, it's important to keep in mind that you'll likely need to invest in marketing and advertising to attract your first customers to your gym and build a loyal following.

These actions can include newspaper and magazine ads, online advertising, email marketing campaigns, or sponsorships of sporting events, among others. It's also important to consider the cost of creating promotional materials such as brochures, business cards, and website development. We recommend that you compile all these actions and include them in a marketing plan for your gym .

This section will depend on the efforts you make to promote your gym. At Bodytone, we can also help you increase your business's visibility, especially during the first few weeks, which are always the most exciting but also the most challenging.

Have you decided to open a gym in your city?

As you can see, it's not easy to give a precise answer to How much does it cost to set up a gym , or more specifically, how much does it cost to open a gym in Spain ? The investment can be significant, but it's also important to consider that it's a long-term commitment to a highly profitable business model that positively impacts people's health and well-being. With proper planning and a focus on financial sustainability, setting up a successful and profitable gym is entirely possible. Furthermore, it's a profound source of satisfaction for those of us who are passionate about sports. Here are a few examples. Reasons to open a gym That might be a good idea.

However, we actively recommend that you consult this A step-by-step guide on how to open a gym , which we have written in another post on our blog.