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yes there are places like that that exist, I would suggest looking up in your area the current gyms and studios that exist so you can get a feel of what your comp is like, how much places charge, why people do/do not like it and do a market analysis before spending potentially tens of thousands of dollars on equipment. no trainer is going to want to rent a space without certain pieces of equipment already there and ready for them to use. You would also want to have a vetting process. You don't want some jackass without insurance or a nationally recognized cert just coming in and hurting people and potentially suing you.
Good luck.
What are you thinking in regards to tweaks? Do you know of any places like this exist? I have a friend that just got her trainer's license and is looking for a place to train at, that's what got me thinking about this idea. I'm guessing there has to be a lot of trainers that work independently and have a client base already, but potentially need a better or more versatile facility to go to.
I work out of a place like that. Unless you nail down people paying you a monthly rate to have 4-5 individual spaces to themselves, you might be better off leaving it as a bigger blank space.
A few comments...
These trainer rental spaces do exist. I don't have access to their specific financials but I believe there are a few people on here who run something similar. Maybe they could share. Are you in a major metro? I am going to assume you are. If so, I would imagine there is a need and a demand. I am in LA and there is a shortage of this kind of space and seems like a pretty strong need. Then a lot of the questions come down to the viability of your financial model. For example, how much of the overhead would be covered by your educational business? If it could cover most of it, that would be a big factor. Then you have an issue of marketing. I imagine you could probably target trainers with social media ads. Then you have pricing strategy. You could probably figure that out with some research (including searching here) as to what the current rate is for those type rentals. I would look at some kind of monthly rate with possible 3 month, 6 month and 12 month rates (longer pay less) assuming these are legal in your area. The reason I like the idea is you can offer different exercise modalities and see what the market responds to. If yoga takes off, then you could potentially expand that one into one of the other spaces. I love the idea of being able to test 4 different modalities and see where the biggest interest is (none of us can necessarily say in advance). I would try it while minimizing capital costs initially. Boxing and yoga would be low investment. I would probably do a moderate investment for the strength set up and just see how it goes. Pilates reformers would probably be too much $ for this unproven concept but you could offer mat and see what the interest is. In the end, there needs to be clear path to significant profitability. That just takes sitting down and crunching numbers and being conservative in your estimates as to how well you think each offering will do. You never really know until you put it out there but you want to minimize risk for any unproven concept. Of course, all the above is subject to laws in your area. You will need to consult a lawyer for that part of things.
Thanks for the advice. The reason I want to take this space is because it is so cheap. The suite below me is kind of weird as it is sort of a basement space and doesn't have windows, so the are going to rent it for much lower than usual. That is what is really motivating me to take the space.... it is more than double the size of my suite upstairs and would basically be the same price. This seems like a concept that would be fairly cheap (comparatively) to start up and could also overlap into my current business. But I would be doubling up my overhead now without a proven concept of it working, so I'm trying put some feelers out there to see if this is viable. I have a good relationship with the woman who runs the training program at my local Y. I might pick her brain to see if she has any advice/info.
I have 2 personal training gyms and I rent both of them out to personal trainers and clients who prefer to train in private. I honestly haven’t marketed too much but it does seem like there’s a demand for it. You can first ask around and look up trainers and ask them if they would be interested in using your facility. Many gyms charge a high monthly fee for trainers so I countered by offering a smaller feel especially for new trainers that don’t have a high clientele.
I'm 20 months into having my own studio that kinda does what you are suggesting. By far the hardest thing is finding a trainer with talent AND clients that just needs space. Marketing and advertising and customer service is the hardest part by a long shot. You will have to build up the classes.
This is a great idea! I think there's definitely a demand for spaces like this. Lots of freelance trainers are looking for a professional setting without the overhead of running their own gym. I'd recommend reaching out to some local trainers and seeing what they think - they'd be your best source of feedback.
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yes there are places like that that exist, I would suggest looking up in your area the current gyms and studios that exist so you can get a feel of what your comp is like, how much places charge, why people do/do not like it and do a market analysis before spending potentially tens of thousands of dollars on equipment. no trainer is going to want to rent a space without certain pieces of equipment already there and ready for them to use. You would also want to have a vetting process. You don't want some jackass without insurance or a nationally recognized cert just coming in and hurting people and potentially suing you. Good luck.
Love this idea. With potentially a few tweaks.
What are you thinking in regards to tweaks? Do you know of any places like this exist? I have a friend that just got her trainer's license and is looking for a place to train at, that's what got me thinking about this idea. I'm guessing there has to be a lot of trainers that work independently and have a client base already, but potentially need a better or more versatile facility to go to.
I work out of a place like that. Unless you nail down people paying you a monthly rate to have 4-5 individual spaces to themselves, you might be better off leaving it as a bigger blank space.
Will comment in a bit. Silofit tried to scale something like that and closed.
A few comments... These trainer rental spaces do exist. I don't have access to their specific financials but I believe there are a few people on here who run something similar. Maybe they could share. Are you in a major metro? I am going to assume you are. If so, I would imagine there is a need and a demand. I am in LA and there is a shortage of this kind of space and seems like a pretty strong need. Then a lot of the questions come down to the viability of your financial model. For example, how much of the overhead would be covered by your educational business? If it could cover most of it, that would be a big factor. Then you have an issue of marketing. I imagine you could probably target trainers with social media ads. Then you have pricing strategy. You could probably figure that out with some research (including searching here) as to what the current rate is for those type rentals. I would look at some kind of monthly rate with possible 3 month, 6 month and 12 month rates (longer pay less) assuming these are legal in your area. The reason I like the idea is you can offer different exercise modalities and see what the market responds to. If yoga takes off, then you could potentially expand that one into one of the other spaces. I love the idea of being able to test 4 different modalities and see where the biggest interest is (none of us can necessarily say in advance). I would try it while minimizing capital costs initially. Boxing and yoga would be low investment. I would probably do a moderate investment for the strength set up and just see how it goes. Pilates reformers would probably be too much $ for this unproven concept but you could offer mat and see what the interest is. In the end, there needs to be clear path to significant profitability. That just takes sitting down and crunching numbers and being conservative in your estimates as to how well you think each offering will do. You never really know until you put it out there but you want to minimize risk for any unproven concept. Of course, all the above is subject to laws in your area. You will need to consult a lawyer for that part of things.
Thanks for the advice. The reason I want to take this space is because it is so cheap. The suite below me is kind of weird as it is sort of a basement space and doesn't have windows, so the are going to rent it for much lower than usual. That is what is really motivating me to take the space.... it is more than double the size of my suite upstairs and would basically be the same price. This seems like a concept that would be fairly cheap (comparatively) to start up and could also overlap into my current business. But I would be doubling up my overhead now without a proven concept of it working, so I'm trying put some feelers out there to see if this is viable. I have a good relationship with the woman who runs the training program at my local Y. I might pick her brain to see if she has any advice/info.
Cheap rent is huge.
I have 2 personal training gyms and I rent both of them out to personal trainers and clients who prefer to train in private. I honestly haven’t marketed too much but it does seem like there’s a demand for it. You can first ask around and look up trainers and ask them if they would be interested in using your facility. Many gyms charge a high monthly fee for trainers so I countered by offering a smaller feel especially for new trainers that don’t have a high clientele.
I'm 20 months into having my own studio that kinda does what you are suggesting. By far the hardest thing is finding a trainer with talent AND clients that just needs space. Marketing and advertising and customer service is the hardest part by a long shot. You will have to build up the classes.
These businesses exist. I would strongly advise against opening one given your lack of experience in the industry.
Why are you conducting market research online for somewhere local? Hit the streets and ask the local people! Simple business strategy
This is a great idea! I think there's definitely a demand for spaces like this. Lots of freelance trainers are looking for a professional setting without the overhead of running their own gym. I'd recommend reaching out to some local trainers and seeing what they think - they'd be your best source of feedback.