Considering opening up my own gym -- I need your input, guys!
I've been considering opening up a gym with Detard (from this site) in the near future. We've discussed all of our ideas and my main concern is how successful it will be based on the clientele. We want to attract a very broad, general population who are "serious" about increasing strength and/or muscle mass so we're not limiting ourselves solely to competitive powerlifters. I know that's basically going to cut out 50% of the population (females), but we're okay with that. The look and equipment we're going for is a warehouse-type gym a lot like Elite Fitness Systems'. It would be equipped with a couple of monolifts, power racks, olympic benches, glute-ham raises, reverse hypers, tires, sleds, prowlers, farmers handles, plenty of chalk, loud heavy metal, maybe some rowers and spin bikes, etc. Ideally, we'd like to make enough income to survive comfortably (at least $50,000 - $100,000) for EACH of us. The location would be near the heart of Toronto. I know it's a competitive market, but I'm thinking this would be successful because our membership prices would be so low considering we wouldn't have such high equipment costs (treads, ellipticals, machines, etc. for $10,000+ each) like every other commercial gym. It's a huge risk, a risk that I'm not entirely sure I'm willing to take. The biggest question that comes to mind, is why hasn't this been done before? There's nothing like this anywhere near Toronto. Do any of you have experience with this? What tips/suggestions can you give me? How successful do you think a gym like this would be in a major, populated city?