@@franknostrings1117 small town of only 5000 people. Own all equipment out right (bought the ymca that closed down that wasn’t making enough money). Currently buying the building, mortgage is $850 a month.
@@KamikOzzy_ I would say go for it! Do not expect to make money for a while tho. After I made this comment in January it’s April now and the last 3 months were my first months turning profit. So it took exactly 3 years to make money.
I believe the wisest decision that should be on every individual list is to invest in a different stream of income and don't depend on the government to bring you money. It's always better to work smart and not hard.
That's perfectly correct, you don't have to depend on paid jobs to earn a living, explore other good and reliable ways of creating wealth no matter what most people say about diddle.
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know.
Julianne Iwersen-Niemann is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I say doing monthly competitions, female and male and having a set up trainers available is a good way to get people to come to the gym. Have a smoothy bar with a nice female good looking staff. And having a boxing section to help people protect them selves. Also having the owner there will bring a face to the shop. U go out to events and even maybe host car meets in your parking lot every weekend. I have a vision and one day I’ll own a gym.
I just celebrated 44 years in the health and fitness industry. In America and Sweden. I completely concur with your brutally honest advice. Without the qualities you elequently highlighted, any measure of success will be challenging.
Thank you for your tips. All facts. Everything you’ve listed, are the reasons why I’m opening a gym! Just signed a 20yr lease agreement and started the fit out. Great vid!
I literally remember saying this to myself over and over when I was 20. Some dreams do come true. But I'll tell you what's worse than finding out that Santa isn't real.... It's the day you find out that all your "training partners" from your late teens to early 20's don't have what it takes to keep training for life and they for the most part... all end up looking and feeling like bums :(
The only reason I want to open a gym is that there's no gym in my hometown and people travel to a neighboring town to attend the gym. Do I have a good reason/idea?
@@damiansanchez1189I think any idea is good, if you put your mind to it & analyze & take note of the ups & downs (pros & cons I should say), in my personal opinion I suggest is that if you want to start a gym business you should have a good amount of savings for you to use to open one one, because everything costs to start & maintain, the equipment are pretty pricey & to rent a place for your gym, but I could say is that you can buy your equipment little by little & then maybe buy a place of your own so you don’t have to worry about paying rent all you probably have to worry about at the end is PG&E bill & your employees if you you’d have any
Looooooool.... Being a business owner is not easy, majority people aren't meant to be business owner. Being a gym owner, itself is incredibly difficult because profit margins are so slim.
hmmmm that's kind of a loaded question. My number one tip would be "financial literacy". without it, you're dead. If you can't explain the difference between a balance sheet and an income statement or the an asset vs a liability or breakdown simple tax advantages or you've never even been able to store (save) up $50,000 or more... don't do it. You're a rookie and need to put in the work..... notice how none of that had to do with equipment or leases or prices... if that is a shock... its because you do not know the game. There's levels to this maaaan -Meek Mill
Members range from 50-100 at any given time (we sell High Priced Programs) and if you want to do anything at scale, you'll need a team of highly motivated and driven and especially LOYAL people
@@BrettSummersGym so then it isn’t that profitable. If you are getting 100 people for like a high price like 50$ then you would only get 5000$ per month, plus insurance, plus pay your employees, plus bills, plus mortgage/rent...
@@BrettSummersGym Ahhhh I see. So you charge 4000$ per person. Jesus lord. That really is high price. Thought it be like 50$ a person cuz that is expensive already.
Hey Torin, this video wasn't about negatives. It was more about realties. Things people overlook or don't account for when saying "I want to own a gym"... Hope you still found it helpful. Negatives weren't the mission. Deciding on being a coach or a gym owner was the goal. Both are different roles just like a starting quarterback and special teams coach are different roles -Brett
in the wrong foot? help me out... I'm getting old and don't know all the new slang! no matter what you meant, hope you are had a great week and are ready to make the most of the weekend -Brett
I stopped watching when you said people shouldn’t open a gym if they’re not a salesman. I’m not a salesman in anyway shape or form. I’m probably the worst salesman on the planet. I still think I can open a successful gym. I’ll prove you wrong
Brett here... hope you crush it. If you can have build a "successful business" without marketing and selling (therefore not generating any cashflow or revenue) then I would suggest doing a TED talk. However, companies like Apple, Amazon, Tesla, etc all became the companies we know and use today because they do one thing better than everyone else. Market & Sell. Be on the lookout for your gym, gotta go install $100,000 worth of Williams Strength equipment into our newly renovated facility.
@@BrettSummersGym you know what, I’m saving this video and coming back her to embarrass you after I make a success of it. Let’s see how many snarky and sarcastic comments you’ll make then.
@@npc7135I can’t take you seriously here lol, are you being for real? Without being a salesperson you can’t sell anything and if you are able to sell then you most definitely are a sale person or have the characteristics of one. How are you saying you will start a successful business and say you are the worst person in sales and you are going to succeed without it? It doesn’t even make sense dude 😂 humble yourself and listen to the people that already done what you want to do, this is not a joke I tell you that for sure!
Just made it to my 3rd year this January with my gym. So hard to turn a profit every month but still going. Pray for me for 2023 🙏🏽
Hey man wishing you the best success, thinking of opening a gym as well.
Are you in a remote area? How much is your rent and equipment payments
@@franknostrings1117 small town of only 5000 people. Own all equipment out right (bought the ymca that closed down that wasn’t making enough money). Currently buying the building, mortgage is $850 a month.
@@KamikOzzy_ I would say go for it! Do not expect to make money for a while tho. After I made this comment in January it’s April now and the last 3 months were my first months turning profit. So it took exactly 3 years to make money.
Work backwards. do 3 things 15 hours a day. Promote. Sell. Serve. repeat
I believe the wisest decision that should be on every individual list is to invest in a different stream of income and don't depend on the government to bring you money. It's always better to work smart and not hard.
That's perfectly correct, you don't have to depend on paid jobs to earn a living, explore other good and reliable ways of creating wealth no matter what most people say about diddle.
i never did like that saying of "work smart not hard" why not both?
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know.
Hmmm this is quite interesting, Please can you leave the info of your investment advisor here? I’m in dire need for one.
Julianne Iwersen-Niemann is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I say doing monthly competitions, female and male and having a set up trainers available is a good way to get people to come to the gym. Have a smoothy bar with a nice female good looking staff. And having a boxing section to help people protect them selves. Also having the owner there will bring a face to the shop. U go out to events and even maybe host car meets in your parking lot every weekend. I have a vision and one day I’ll own a gym.
Love the creativity! That's what it's all about
I just celebrated 44 years in the health and fitness industry. In America and Sweden. I completely concur with your brutally honest advice. Without the qualities you elequently highlighted, any measure of success will be challenging.
@@frankmolina4876 thanks for the feedback keep the throttle down
People don’t realize you have to look at both POVs when opening a business. You can’t just only weight the positives
Always protect the downside! Mitigate risks and K N O W
To be honest, you just gave me 5 reasons to open a gym..
That means you are the inverse of all 5. Love it! Cheering and rooting for you!
I am also taking this challenge and opening One!!
Thank you for your tips. All facts.
Everything you’ve listed, are the reasons why I’m opening a gym! Just signed a 20yr lease agreement and started the fit out. Great vid!
Good luck I’m looking to start something also
20 year lease! holy moly! congrats
How is it going? Any advices?
@@yamlakfiker7174 he's homeless now :D lol
@@IroshWijesekera 🤣🤣🤣🤣🤣🤣
I just want a big warehouse gym for me and my friends.
I literally remember saying this to myself over and over when I was 20. Some dreams do come true. But I'll tell you what's worse than finding out that Santa isn't real.... It's the day you find out that all your "training partners" from your late teens to early 20's don't have what it takes to keep training for life and they for the most part... all end up looking and feeling like bums :(
The only reason I want to open a gym is that there's no gym in my hometown and people travel to a neighboring town to attend the gym. Do I have a good reason/idea?
Im asking myself the same question. I think opening a gym in my town could be a good Idea, but I do not know if it is an actual good idea, you know?
@@damiansanchez1189I think any idea is good, if you put your mind to it & analyze & take note of the ups & downs (pros & cons I should say), in my personal opinion I suggest is that if you want to start a gym business you should have a good amount of savings for you to use to open one one, because everything costs to start & maintain, the equipment are pretty pricey & to rent a place for your gym, but I could say is that you can buy your equipment little by little & then maybe buy a place of your own so you don’t have to worry about paying rent all you probably have to worry about at the end is PG&E bill & your employees if you you’d have any
ARE YOU GONNA DRINK THAT? Or Babysit that drink?
Nursing that bad boy lol
CAMERAMAN STOP MOVING GHHHAAAAAD UR GIVING ME HEADACHE
Top reason: he’s afraid of competition.
so silly. so damn silly.
Looooooool.... Being a business owner is not easy, majority people aren't meant to be business owner. Being a gym owner, itself is incredibly difficult because profit margins are so slim.
@@Thaikuza Spoken with true intelligence
Your stupid !
You surely need a hell lot of cashflow because of small % margin and need to constantly open another revenue stream
Couldn't agree more. Need to have multiple drips coming down! have a great week
Which is more profitable in 2022: Gym Box or Studio ?!
depends on who runs it!
Thanks for the educational info that really helped.
I'm here to serve 1000%
I like the layout of your gym. What would you say your #1 tip is for opening up one?
hmmmm that's kind of a loaded question. My number one tip would be "financial literacy". without it, you're dead. If you can't explain the difference between a balance sheet and an income statement or the an asset vs a liability or breakdown simple tax advantages or you've never even been able to store (save) up $50,000 or more... don't do it. You're a rookie and need to put in the work..... notice how none of that had to do with equipment or leases or prices... if that is a shock... its because you do not know the game. There's levels to this maaaan -Meek Mill
@@BrettSummersGym I appreciate the feedback. Definitely can tell your all in on your brand. Respect ✊🏻
most of the reason are not only specific to gym busienss but any business per se
How many members sign every month? Do you need employees to run gym too and how many?
Members range from 50-100 at any given time (we sell High Priced Programs) and if you want to do anything at scale, you'll need a team of highly motivated and driven and especially LOYAL people
@@BrettSummersGym so then it isn’t that profitable. If you are getting 100 people for like a high price like 50$ then you would only get 5000$ per month, plus insurance, plus pay your employees, plus bills, plus mortgage/rent...
@@flawlessvictory6470 my coaching program is $4,000 per person. Here is the link www.toplinegym.com/products/private-personal-training-with-brett
@@flawlessvictory6470 Your numbers are terribly flawed and anyone reading this thread should ignore this comment.
@@BrettSummersGym Ahhhh I see. So you charge 4000$ per person. Jesus lord. That really is high price. Thought it be like 50$ a person cuz that is expensive already.
Want to be leader or a leader u are above all
What do you mean? Want to understand you a little better -Brett
This is more of a "5 Reasons You Should Open a GYM" to me
Great points! Needed to hear this!
Better not be sponsored by Starbucks.... Was looking at the cold brew the entire video.
Great video, thank you 🙏
Damn that #1 make me think
def
Damn… You just described me to the T! I’m ready‼️
Lets roll Richie
It's like the doctor does not open your practice 😂
Good tips thanks
You got it boss
thank you
Got you!
Great information
appreciate the time, attention and comment -Brett
♥️ love this
I'm here to help :)
Weird free (I assume) plug for Starbucks.
I didn’t hear any negatives ngl
Hey Torin, this video wasn't about negatives. It was more about realties. Things people overlook or don't account for when saying "I want to own a gym"... Hope you still found it helpful. Negatives weren't the mission. Deciding on being a coach or a gym owner was the goal. Both are different roles just like a starting quarterback and special teams coach are different roles -Brett
#1. Planet Fitness.
If you want to open a gym.. just open a gym
You could host a clubhouse room once in a while
I think you're right
Bro I think you are in the wrong foot man wrong
in the wrong foot? help me out... I'm getting old and don't know all the new slang! no matter what you meant, hope you are had a great week and are ready to make the most of the weekend -Brett
Can’t stay off your phone long enough to make a video?
My notes were typed on the phone ya nit-wit.
@@BrettSummersGym you had pornhub up be honest
These are the 5 reasons why you should open a gym. Click bait as usual.
I value your POV, but I dislike this clickbaity youtube titles.
Don't start a gym. Then gives 5 reasons not to start a gym. Then someone comments "click baity". ummmm.
@@BrettSummersGym yes man as a gym owner yourself, who stays in the fitness business, it is clickbaity. But you do you.
@@4daocean 99% of hopeful gym owners don’t have what it takes. Just trying to help save people a massive, costly failure. Happy Turkey Day.
I stopped watching when you said people shouldn’t open a gym if they’re not a salesman. I’m not a salesman in anyway shape or form. I’m probably the worst salesman on the planet. I still think I can open a successful gym. I’ll prove you wrong
Brett here... hope you crush it. If you can have build a "successful business" without marketing and selling (therefore not generating any cashflow or revenue) then I would suggest doing a TED talk. However, companies like Apple, Amazon, Tesla, etc all became the companies we know and use today because they do one thing better than everyone else. Market & Sell. Be on the lookout for your gym, gotta go install $100,000 worth of Williams Strength equipment into our newly renovated facility.
@@BrettSummersGym you know what, I’m saving this video and coming back her to embarrass you after I make a success of it. Let’s see how many snarky and sarcastic comments you’ll make then.
@@npc7135’m going to be honest with you no one cares.
@@npc7135I can’t take you seriously here lol, are you being for real? Without being a salesperson you can’t sell anything and if you are able to sell then you most definitely are a sale person or have the characteristics of one. How are you saying you will start a successful business and say you are the worst person in sales and you are going to succeed without it? It doesn’t even make sense dude 😂 humble yourself and listen to the people that already done what you want to do, this is not a joke I tell you that for sure!
Broh… how you gonna sell memberships??? If you don’t have any sales acumen you ain’t growing shit.
great content, thank you!
Thats what I'm here for -Brett