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Step 1
Think about the type of gym you want to own. If you are starting a smaller gym, then you might consider a specialty gym like a women's-only gym, a men's-only gym, a gym specializing in personal training or an express workout gym. Often larger nationwide gym chains like LA Fitness or Bally's require large investments.
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Step 2
Look around at the gyms in your area. Choose those you are interested in and then ask the owners how their gym franchise has worked for them and if they are seeing a profit. Ask for a tour of each gym. See how each gym is run and what seems profitable for each one.
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Step 3
Take notes on each gym and choose the best gym franchise to invest in. Do your market research to find a suitable area, and make sure your gym is in a prime location so your target customers can easily visit.
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Step 4
Contact a lawyer before you invest money in anything. A lawyer will be able to look at the fine print and explain all of the details of the franchise to you so you won't miss anything.
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Step 5
Talk to an accountant to see if this will be a profitable investment for you and your savings. He will be able to calculate how much you might earn on your investment in a gym franchise.
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Step 6
Buy the chosen gym franchise once you have put everything in perspective with your accountant and lawyer. Make sure you have copies of all of the franchisee information and contract.
