You are interested open a boxing gym? Well, it is a good business idea if you know the skills that you must have, because you can invite children and adults to participate in your gym but each of them needs different types of classes so that they have fun while they train.
For this reason you need the help that you will know below to open your gym and be successful:
What do I need to open a boxing gym?
In addition to complying with the legal issues to open a boxing gym, you need:
Ability to interact with your clients applying your creativity so that children and adults take fun classes and learn.
Costs to open a boxing gym
Although the costs depend largely on the area where you open your business, you need at least two boxing rings, and gloves. A boxing ring starts at a cost of 5000 dollars while a pair of gloves has an approximate cost of 100 dollars and you will need at least 20 pairs as initial expenses of your equipment and you will also need the punching bags.
Steps to open a boxing school
Follow these steps to open a boxing school:
Step 1: Make a clear plan for your venture to be successful, consider the initial cost, what your labor market will be, thinking about whether your boxing gym will be aimed at children or adults or both.
Step 2: Create a legal entity such as sole proprietorship, association or limited liability company,
Step 3: Register for the payment of federal and state taxes, as you will need it before opening your business.
Step 4: You need to open a commercial bank account to keep your finances organized and also your business will appear professional in the eyes of your clients.
Step 5: It leads to commercial accounting, You can outsource this work to an accountant so that you can keep track of expenses and income and thus you are considering the performance of the business with clear and precise accounts.
Step 6: Obtain the necessary licenses and permits to avoid paying fines and you must even abide by what the law establishes because your business can be closed if you do not show the license.
Step 7: Go to an insurer and buy commercial insurance, as all business owners need it, because if you hire employees you must have workers’ compensation insurance as a legal requirement.
Step 8: Once you have chosen the physical space for the gym, you have obtained the licenses and permits and you can open your business, start promoting it.
For example, you can print flyers to post on the boards of restaurants or bars in your area or in community centers.
As a promotion you can seduce your clients with free classes by giving them coupons. It is also essential that you create a professional website to advertise the classes and add as much information as possible so that parents will know that you have opened a new gym.
For example, you can promote your boxing gym by informing that it is a complement to another type of fighting or self-defense exercise.
You can also visit local schools and in those that do not have boxing programs you can propose to provide support by providing them with a boxing team and offering your services.
Step 9: When you hire instructors, think that they must be the best with experience and, if possible, certified, who can teach creative and never repetitive classes. In addition to having good coaches, you should consider that the physical space must always be neat, clean and orderly, since word of mouth is one of the best promotional strategies.
Step 10: Think about how many people you need to form the team of coaches, because at first you may not need many but your first clients should make sure that they will always have a tutor to receive personalized instruction.
Step 11: A boxing school is risky, therefore you must have your clients sign a liability release so that they cannot sue you for injuries.
To do this, create a standardized liability release form, then when a client enters your school you will have them sign the form before starting their first class.
Step 12: If you plan to open your gym within a club you will need an OC or certificate of occupancy which means compliance with building codes and zoning laws, as it is part of government regulations.
But in the event that you rent a physical space, the certificate of occupancy is the responsibility of the person who rents that physical space, therefore before renting the location you should ask the landlord if he has the CO or if he can obtain it, as it must be A valid construction certificate so that you do not have problems when opening your business, since if the physical space was renovated you must obtain a new construction certificate before you open your business.
Even in your contract you must specify that you will pay the corresponding rent once the owner obtains the CO and it is valid.
If you buy land and build or buy a commercial space to transform it into a gym, you will be the one who must obtain the construction certificate issued by the authority of your local government.
Therefore, before opening your business, check what are the building codes and what are the zoning requirements to be able to locate your business in that place and you will make sure that your gym will be in a location in accordance with the regulations and you will obtain the CO.
Regarding the physical space, he thinks that a boxing school requires a large space for training in addition to space for all the equipment and for clients to feel safe with large windows, walls with provision for wind sprints and bags of uppercut and speed plus walls to advertise fights and photos
On the other hand, you should think about a strategic location, that is, an area where you can find many interested in exercising, such as schools, universities or commercial businesses.