Get Your Own Gym Business Started. It Looks Promising.

If health and fitness are your key interest and you might be toying with the idea of putting up your own gym business, you’ll be happy to know that government statistics showed strong business growth in this field. Compared to other occupations, the U.S. Department of Labor expects the growth of the industry to be stronger and faster than average. The U.S. Census Bureau statistics also showed that the 21,283 fitness businesses across the country had a net of more than $10.2 billion annually per 1997 data. No doubt, with every Tom, Dick and Harry and every Jane, Sarah and Maggie going gaga over health concerns, you just might be looking at the right direction to make some good, decent money.

Start off with the right foot and follow these smart moves:

1) Get a Fitness professional certification: You’ve got to have credibility when starting a gym. The loan people of the lending banks and clients in particular will view your level of industry experience as a reflection of your competence and respectability. This certification and some business education courses may be obtained from the American Council on Exercise and the International Health, Racquet and Sports club Association. Check out their websites. They can help set up your professional credibility.

2) Find a good location for the gym: Seek out the demographic areas. Find one that will support the services your gym will offer. Location is key in attracting and establishing clients so be on the conservative side and factor in higher rentals when figuring out your start-up costs. Make sure you don’t come up with any figures that may turn your business into a bad loan even before you start. The location must be closest to your customer base so consider such things as street access, traffic, parking and accessibility.

3) Decide on the kind of services your gym will offer: These may range anywhere from rehabilitation to weight loss. Should you decide to cater to older adults, it may have to be rehabilitation services and gentler disciplines of exercise like yoga or Taichi or Pilates and low-impact aerobics. If you decide to make it an only-women gym, then it’s weight-loss services, body firming and weight training classes with intense cardiac workouts thrown in for good measure.

4) Get the right fitness equipment: Having decided on your gym’s services, You can now determine the right and proper equipment. When selecting them, take into consideration, the new technologies, maintenance and of course, costs. You’ll probably need treadmills, weight machines, weight benches and mats. As you estimate their costs, you may want to look at leasing as an option.

5) Finally, prepare a business plan and get gym financing: Two things to get your business running are this business plan that needs to be written and a loan. People who are in this business say the cost of putting up a gym may range from $10,000 to $50,000.Take this as a guide. The lending banks or financial groups won’t consider a business loan without a thorough business plan, so work on it carefully. The U.S. Small Business Administration can help. They offer free service to help in the formulation of a business plan and lend a hand in getting loans.

Good Luck!


Small Business

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How To Cope With Debt Stress

Financial stress can have a real impact on your health, but there’s always a way to control that. When stressed people tend to overeat or eat less, isolate themselves, smoke and abuse alcohol. Let’s have a look how you can deal with debt stress and the emotional and mental troubles that come together with it.

Accept that having a debt is a problem and that you need to take action to cope with it. The sooner you realize you have a problem the sooner it will be resolved. The first steps are to contact the financial counsellor, to stop ignoring your bills and start talking to your creditors. Financial Counselling Australia (FCA) is the peak body for financial counsellors in Australia. Financial counsellors are non-judgmental, qualified professionals who provide information, support and advocacy to people in financial difficulty. Working in community organizations, their services are free, independent and confidential.

You need to figure out how much money from your paycheck you can spend on refinancing your loans. Try paying more than just a minimum monthly payment; you will save on interest and pay off your loan faster. If you have numerous loans the smarter way would be to pay the highest interest one first if you want to save money or to pay the smallest ones first if you want to decrease the amount of monthly payments. In case you tend to overspend money on unnecessary things and have a shopping addiction you need to seek psychological help. Shopping addiction may be hard to stop just like alcohol abuse or smoking.

Seek help from a community non-profit organization. Good Shepherd in Australia can offer information on your options in relation to outstanding bills, debts and fines, negotiation on your behalf with those seeking payment, information and assistance to access schemes for people in financial hardship, referral to other organizations that may be able to help, and others.

Consider a debt consolidation loan. If you are struggling with financing several credit and store card loans with different interest rates and fees, consider getting one where you are going to transfer your balances. This can help you saving on the overall interest rate and paying less each month which can decrease your worrying about making a payment you can’t afford.

Look for the ways to make more money. It can be selling the stuff that you no longer need, getting a part-time job, or freelancing. It can be a good way to keep you busy and distract from the stress as well.

You should look at it as on a temporary problem. It’s important to realize that your debt s as well as bad credit are a problem you are going to overcome and in few years it’s only going to be a memory. It’s not the worst problem that can happen to you. While you are working on this issue remember to have a good sleep, to maintain a balanced diet and try to distract yourself watching movies, playing games and spending time with your family.

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