Venturing in to any business opportunity is intimidating and can require lots of due diligence and research.

Gyms are more popular than ever before; expect competition. If you are a fitness trainer with a business mindset to open their very own studio, the first step is to evaluate your willingness and judge your preparedness for what’s to come.

Taking calculated risks and betting on yourself are two crucial cornerstones of every fitness professional’s life.

Therefore, before you strike out on your own, here are five questions you must ask yourself first.

Am I made for this?

Setting up a gym, keeping it running and a turning in a profit every month is no mean feat. It requires tears, blood and sweat, an efficient team, an effective business plan, but above all, it requires an owner who just won’t quit.

Make sure you are prepared for long nights and have and unshakeable drive for turning your dream into reality.

Am I Prepared For Failure

Failure is part of the process and to achieve success it’s a necessary ingredient. Thing won’t always go as you plan and you may suffer setbacks. Ask yourself if you will be willing to get back up after every failure and power through.

What Kind Of Gym Will I Set Up?

Consider every possible aspect of setting up your gym before you take the plunge.

Are you aiming to train seniors, young athletes, or ladies only?

Will you offer memberships or every day passes?

Will you join a franchise or build a studio from scratch?

The way you design your studio will impact the long-term success of your business so be sure to have a comprehensive plan to guide your every move.

Do I Have Enough Money?

It is important to evaluate your personal finances and decide if you have enough cash to put in to the business. If not, are you willing to find an investor? Having substantial savings that you can put into your new studio relieves you of a lot of stress that comes from living month to month.

What Additional Streams Of Income Will I Have?

Instead of putting all your eggs in one basket and relying on a clientele as your sole source of income, look in to alternative streams of revenue. You could work on releasing personalized fitness programs, producing fitness DVDs, selling fitness devices, leasing your studio to trainers, etc.

Do I have the right location?

Picking a location for your gym is a crucial decision that requires you to consider many aspects such as client-rich locality, visibility and most importantly – whether you can afford to open up a gym there or not.

Some questions to keep in mind while selecting a location include:

Parking: Will there be enough parking available outside of the premise? Is it free? If not, can you speak with the local authority to reach a decision over free parking for members?

Neighborhood: What’s the socio-economic status of the people living in the local area? Will you be allowed to advertise? Are there other gyms in the area?

Rent: Can you afford the rent? Is the landlord easy to deal with? How much will the rent rise annually and can you freeze it?

Successful businesses take time, so set realistic expectations. Be a 100% true to yourself while answering these questions because a substantial amount of your time, money and effort will go into this venture.

For more information on setting up a gym, expanding your streams of revenue and building and maintaining a solid clientele, visit Fitness Pro Income Booster—your ultimate source of forging a successful career in the fitness industry.