Gym Opening Cost | How To Start Gym Business In India?

According to Zion Market Research, the global health and fitness industry is expected to reach $8,946 billion by the end of 2030 and grow by 3-4% annually. In India, it will reach approx $1.3 Trillion. Establishing a gym can present significant business opportunities. The average Indian household spent Rs 3,632 on health and fitness, If you can get just 50 regular members, that’s almost 181,600 a month. 

In India, only 0.2% population has a gym membership, and this number is growing continuously. So, if you want to start your business venture, this is the best time. Starting your own business can be very challenging but the reward is also very high. Others also prefer to open a franchise business. However, let’s take a look at how much it costs to start a gym.

How much it does cost to open a gym? 

Opening a gym startup cost depends on your size, location, facility, and the type of gym you want to start. The basic start-up costs can range from 5 lakh to 10 lakh rupees on average. However, this cost can be exceeded. It’s almost impossible to give an accurate estimation. Different gym owners start different types of gym businesses, and the costs will differ according to their facility. There is also another option, you can choose a gym franchise model in the franchise model and don’t have to worry about advertising, the cost of taking a gym franchise depends on that brand and its popularity.

Planning your finances is pivotal for achieving success and managing your business over the long term.

1. Location

Selecting the location for your gym is a very critical and costly decision. It is one of the biggest expenses in your business. The place you pick should have Street visibility, so you can spend less on marketing.

Before choosing a location, research properly on different options. Always keep in mind about your potential customers. For example, being close to a health food store could attract more customers. Also, consider whether you are buying or renting the building. Renting a 2,000 sq ft space might cost ₹ 1.25 L /month. Running a gym needs lots of electricity and water. In a medium-sized gym, it will cost 15000 to 20000 for electricity and water.

2. Gym Equipment

The cost of gym equipment depends on which type of gym you are creating. If you want to plan on running classes, then you need a have enough gym equipment so every person in the class has a machine. Apart from this you also need other gym supplies such as towels, chairs, and TVs, as well as gadgets like printers, and computers. 

3. Licenses and Permits

When starting a gym, you need budgets for Licenses, Permits, and certifications to start your business. If you don’t have certification apply for it. Having a certified and accredited staff is very important. It is very important to need to hire qualified trainers, which will cost up to 50,000.

4. Legal Requirements for Opening a Gym 

• Local police approval
• SSI registration
• Gym Registration
• Insurance Cover
• Insurance for commercial property
• Liability Insurance
• Service Tax Registration
• Compliance with the Occupational Safety and Health Act

5. Employee Salaries

If you have a mid-sized or big gym you can’t run it alone, you need to hire staff to handle different aspects of the business like personal trainers, managers, and accountants. Experienced trainers charge more cost but it also attracts more customers. So, it is very important to have enough money saved to cover employee salaries for the first few months.

6. Gym Advertising and Marketing

Advertising and marketing played a very important role in spreading awareness. It is very important to show your presence to your target market. For marketing, you need some cost which depends on your marketing styles. some initial things for marketing, building your business website and hosting, posters, and digital marketing.

Gym Franchise

Opening a gym franchise is one of the most profitable ideas. This gym already established itself and made a brand by the use of its name you can easily run your gym business. There are lots of popular gym franchises such as Anytime Fitness, Gold Gyms, 24×7, and Planet Fitness. These brands also help in growing your business. But opening a gym franchise also comes with lots of pressures like you can make decisions independently.

Conclusion

Opening a gym considers various factors every gym owner has a vision. This is why the cost of opening a gym is different in every case. But the average cost to open a gym will be at least 5 to 10 lakh in India. The best thing is carefully considering each aspect, you can get an estimate for your investment in your business.

Faqs – Cost to Open a Gym