Before the glitz and glamor of a world heavyweight fight, the hard work begins and ends in the boxing gym.
Starting a boxing gym can be a great way to train the next generation of champions. Plus there’s never been a better time to start your own club. The US fitness industry is valued at $30.6 billion and boxing clubs have a market share of $1.2 billion. So there are plenty of opportunities in the marketplace, especially for small businesses.
But to stand out from the competition, you need to have a strong foundation. This guide raises important questions to ask yourself before starting a boxing gym and provides 5 actionable steps to turn your vision into reality.
What is a boxing gym business
Your boxing gym can be as simple or as complex as you want to make it. You could open a fully-fledged gym complete with punching bags, classes, and amenities like showers and changing rooms. Or you could organize a meetup in a local park where everyone practices basic techniques like shadowboxing.
It doesn’t have to be one or the other. You could start small and then gradually expand your boxing business. For example, you could offer one-to-one personal training, or teach small groups, until you have enough clients to warrant renting your own space.
Who should open a boxing gym business
Most business owners have a natural interest in their industry. Of course, you could hire experienced boxing coaches to handle the training side of things for you. But your business will be more enjoyable if you already have a personal interest in the sport.
Naturally, there is more to owning a boxing gym than simply being a fitness enthusiast. You should be prepared to work long hours, learn a lot about marketing and management, and be prepared to invest money and effort into your business.
How much does it cost to open a boxing gym
The cost depends on the size of your ambitions. Do you want to rent a large space, fill it with boxing equipment, and employ staff to help your customers? Then prepare to open your wallet. But the startup cost for a boxing trainer who teaches basic exercises like cardio, shadowboxing, and skipping could be zero.
A basic gym will set you back $10,000-$50,000 to fill up with weights and machines. But that’s only the beginning. Then you have to cover maintenance and repairs, rent, wages, licensing and permits, insurance, and marketing costs. You need to take all of these costs into consideration when planning your boxing business.
Should I join a boxing franchise?
Another option is to join an existing boxing business franchise. There are several pros and cons to doing so. One benefit is that you’ll have help with branding and marketing. Another upside is that the franchise will have existing agreements in place with equipment providers.
But it’s neither cheap nor easy to join a gym franchise. A franchise has an existing reputation to protect, and therefore quality standards to maintain. Expect strict requirements for how much to invest in your gym and how to run it.
What are the rules for opening a boxing gym?
Since injuries can happen on your premises, you risk being liable for any such incidents. Not only does the environment have to be safe, but you will also need the proper certifications to teach boxing classes.
Which laws you need to comply with depends on where you are. Read up on local rules and regulations for running a boxing club to make sure you meet all the requirements.
How to open a boxing gym in 5 easy steps
Starting a successful business can be a long and complicated process. We’ve done some of the legwork here to help make the process easier. Let’s dive in.
- Plan your boxing business
Boil down all your boxing business ideas into a solid business plan. Any investors in your new boxing business will want to see a detailed business plan before they invest.
The 6 Crucial Steps to Discover more
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Include the following sections in your business plan:
- Executive summary
- Company overview
- Industry analysis
- Customer analysis
- Competitor analysis
- Marketing strategy
Next step: Read more about building a killer business plan and setting your gym up for long-term profitability and success.
- Find a location
It’s time to scout for a location. The suitability will depend on the nature of your boxing business, so refer back to your business plan. Are you offering outdoor boxing sessions? Then you need a park or forest. Are you opening a boxing club? Then you’ll need a commercial building. Consider which trade-offs you will make, if any, for a high visibility location or for low overhead.
Next step: Check out these factors to consider when looking for a location for your boxing club.
- Get funding
You’ll need a good chunk of money unless you’re starting a bare-bones boxing business with no indoor space, equipment, or additional staff. The cost of starting a boxing gym can be steep, so explore all options, such as taking a startup loan, finding a business partner, or teaming up with a corporate sponsor.
Next step: Read about different funding options to find the best solution for your boxing gym.
- Buy equipment and hire staff
Once you have some money in the bank, you can finally buy the boxing equipment and hire the coaches or staff you need. Make sure you research the best equipment brands and consider enlisting a recruitment agency to help you vet candidates for your staff.
- Market your boxing business
With everything in place, it’s finally time to start advertising yourself! As with funding, the possibilities are endless. You could hand out flyers with introductory offers on the street, or run a major online marketing campaign. Consider hiring a marketing agency to help you out.
Next step: Read up on how to level up your boxing gym marketing and decide on your plan of action.
So, what’s next?
To start and grow a successful boxing gym, you need fitness software that you can count on.
Glofox has got you covered.
We help boxing gyms like yours increase revenue, nurture a vibrant membership base, process payments, and deliver a strong brand experience throughout your members’ lifecycle.
Ready to boost your boxing business? Request a demo today!