Starting any sort of small business is a difficult endeavor. It takes dedication, hard work and determination. It also takes money. This can be one of the biggest and scariest parts of venturing to start your own business. But, you don’t need to break the bank to achieve your dreams.
Be realistic. It is a key aspect of keeping your budget down when starting your first fitness business. Keep yourself grounded in reality. You won’t be able to open a 4-story complex right off the bat. Maybe you have to come to terms with the fact that you will have to meet with clients in their homes. Or consider renting the space from a gym in your area. You need to work your way up to more.
Use low-cost or free marketing techniques. We’ve already discussed into much detail on this subject in previous posts. There are tons of ways to market your start-up business without emptying your wallet. Use some of those ideas to your advantage.
Use free resources. The US Small Business Administration is a free government agency designed to get small businesses off the ground. They offer a variety of free services. From help with business plans to legal and accounting advice, they’re there to help. Use word of mouth as a free resource. If clients see results, they are going to want to show it to others.
Don’t overdo it. Make sure that you are first starting with just yourself as an employee. You don’t need a secretary or another trainer right away. Not only will this keep costs down, but you will be taking in all the money. You also don’t need any fancy equipment or all the latest technology. Go in confident, give your clients encouragement and challenges and show them results.
What are some more ways to keep costs down on your first start-up? If you already have one, what were things that helped you?