Cost Calculator

GYM STARTUP
HOW TO USE THIS SHEET:

So, how much does it cost to start a gym? To answer that, you’ll have to start by envisioning th
example, a modest studio gym could cost $65,000, while a mid-size gym could cost $115,000
little as $50,000, but even within that framework, costs can vary drastically. The bottom line is,
budget facility to upwards of $1,000,000 for a colossal mega-gym with all the amenities.

This template includes LOW and HIGH startup cost estimates, and the numbers are fully edita
sheets, edit line items based on your business, and watch the graphs update with your inform

For additional information on each cost, check out the Glossary tab.

HELP ME FIND THE RIGHT SHEET:

I have one or more of the following:

1) I'm planning to open a modest studio gym.

2) I'm renting my location, and am planning
for minor renovations.
3) My staff will be a small but mighty team.

GO!
START
CALCULATING
 GUIDE LOW HIGH GLOSSARY

you’ll have to start by envisioning the ultimate version of a gym you have in mind. For
mid-size gym could cost $115,000. You could also open a simple cycling studio for as
vary drastically. The bottom line is, it’s possible to spend anywhere from $50,000 for a
a-gym with all the amenities.

es, and the numbers are fully editable for your needs. On the Low or High estimate
he graphs update with your information.

sary tab.

I have one or more of the following:

1) My gym will be large, with a lot

of specialty equipment and studios.
2) I'm purchasing my location, and will need
to undergo major renovations.
3) I will have a large and specialized staff.

GO!
Low Estimate GUIDE LOW

NOTE: Edit items based on your business. We've placed an approximate cost for each ite

ONE-TIME COSTS

ITEM AMOUNT

Physical Location Varies

Gym Equipment $10,000.00

Certifications $500.00

Licenses and Permits Varies

Legal & Processing Fees $9,000.00

Insurance $12,000.00

Building Improvements & Remodeling $20,000.00

Computer Network & POS System $550.00

Signage $20.00

Employee Uniforms Varies

Miscellaneous Gym Supplies $500.00

Merchandise Varies

Advertising Varies

Responsive Website $300.00

Operating Cash $1,000.00

RECURRING COSTS (MONTHLY)

ITEM AMOUNT

Mortgage or Lease Payments Varies

Insurance Varies

Permits Varies

Equipment Lease Payments $4,000.00

Utilities Varies

Equipment Repairs and Maintenance $2,000.00

Cleaning Supplies $150.00

HVAC Maintenance $50.00

Phone and Internet Service $75.00

Employee Wages Varies

Payroll Taxes or Self-Employment Taxes Varies

Credit Card Processing Fees Varies

Marketing $100.00

Legal and Professional Fees $1,000.00

Miscellaneous Expenses $1,000.00

 HIGH GLOSSARY

mate cost for each item to get you started.

ONE-TIME COSTS SUMMARY

Physical Location
Gym Equipment
Certifications
Licenses and Permits
Legal & Processing Fees
Insurance
Building Improvements & Remodeling
Computer Network & POS System
Signage
Employee Uniforms
Miscellaneous Gym Supplies
Merchandise
Advertising
Responsive Website
Operating Cash
RECURRING COSTS SUMMARY

Mortgage or Lease Payments

Insurance

Permits

Equipment Lease Payments

Utilities

Equipment Repairs and Maintenance

Cleaning Supplies

HVAC Maintenance

Phone and Internet Service

Employee Wages

Payroll Taxes or Self-Employment

Taxes

Credit Card Processing Fees

Marketing

Legal and Professional Fees

Miscellaneous Expenses
 OVERALL SUMMARY REMAINING BUDGET

MY BUDGET

on
$65,000
TOTAL STARTUP COSTS
ermits
sing Fees
$62,245
ements & Remodeling
TOTAL ONE-TIME COSTS
ork & POS System $62,245

$53,870
rms
Gym Supplies
TOTAL RECURRING COSTS

$8,375
bsite
BALANCE
$2,755

$2,755 Total Startup Costs

Balance
 Total Startup Costs

Balance

ONE-TIME COSTS VS. RECURRING COSTS

[PER
Payments CENT
AGE]R
ecurring

Payments
Costs
[PER
CEN
s and Maintenance TAG
E]One-
Time
e
Costs
Service

elf-Employment

ssing Fees

onal Fees

enses
EMAINING BUDGET

$62,245

$2,755

Total Startup Costs

Balance
Total Startup Costs

Balance
High Estimate GUIDE LOW

NOTE: Edit items based on your business. We've placed an approximate cost for each ite

ONE-TIME COSTS

ITEM AMOUNT

Physical Location $500,000.00

Gym Equipment $50,000.00

Certifications $800.00

Licenses and Permits Varies

Legal & Processing Fees $15,000.00

Insurance $12,000.00

Building Improvements & Remodeling $100,000.00

Computer Network & POS System $2,300.00

Signage Varies

Employee Uniforms Varies

Miscellaneous Gym Supplies $3,000.00

Merchandise Varies

Advertising $5,000.00

Responsive Website $5,000.00

Operating Cash $1,000.00

RECURRING COSTS (MONTHLY)

ITEM AMOUNT

Mortgage or Lease Payments Varies

Insurance Varies

Permits Varies

Equipment Lease Payments $8,000.00

Utilities $65,000.00

Equipment Repairs and Maintenance $25,000.00

Cleaning Supplies $30,000.00

HVAC Maintenance $50.00

Phone and Internet Service $75.00

Employee Wages Varies

Payroll Taxes or Self-Employment Taxes Varies

Credit Card Processing Fees Varies

Marketing $100.00

Legal and Professional Fees $3,000.00

Miscellaneous Expenses $1,000.00

 HIGH GLOSSARY

mate cost for each item to get you started.

ONE-TIME COSTS SUMMARY

Physical Location
Gym Equipment
Certifications
Licenses and Permits
Legal & Processing Fees
Insurance
Building Improvements & Remodeling
Computer Network & POS System
Signage
Employee Uniforms
Miscellaneous Gym Supplies
Merchandise
Advertising
Responsive Website
Operating Cash
RECURRING COSTS SUMMARY

Mortgage or Lease Payments

Insurance

Permits

Equipment Lease Payments

Utilities

Equipment Repairs and Maintenance

Cleaning Supplies

HVAC Maintenance

Phone and Internet Service

Employee Wages

Payroll Taxes or Self-Employment

Taxes

Credit Card Processing Fees

Marketing

Legal and Professional Fees

Miscellaneous Expenses
 OVERALL SUMMARY REMAINING BUDGET

MY BUDGET

$900,000
TOTAL STARTUP COSTS
mits
g Fees
$826,325
ments & Remodeling
TOTAL ONE-TIME COSTS $826,325
k & POS System

$694,100
ms
m Supplies
TOTAL RECURRING COSTS

$132,225
ite
BALANCE $73,675

$73,675 Total Startup Costs

Balance
 Total Startup Costs

Balance

ONE-TIME COSTS VS. RECURRING COSTS

[PER
se Payments
CENT
AGE]
Recurrin
e Payments g Costs [PE
RCE
irs and Maintenance
NTA
es

nce
GE]O
ne-Time
net Service Costs
s

Self-Employment

essing Fees

sional Fees

xpenses
EMAINING BUDGET

$826,325

$73,675

Total Startup Costs

Balance
Total Startup Costs

Balance
Cost Calculator GUIDE

GLOSSARY OF TERMS
ONE-TIME COSTS:

Physical Location – This cost will vary greatly depending on desired size and location
of your gym, as well as your decision to rent or purchase the building. Aside from space
for weights and machines, you may wish to include space for cardio, yoga or spin
classes. Additionally, you might provide locker rooms, showers or a sauna.

Gym Equipment – This cost similarly has a large range, depending on the amount and
type of equipment you want. Think somewhere between $10,000 for a personal studio
to $50,000 for a fully-equipped commercial gym.

Certifications – Having a professional, certified staff is a big plus. Some certifications to

explore include: American Council on Exercise (ACE), National Academy of Sports
Medicine (NASM), International Sports Sciences Association (ISSA), American College
of Sports Medicine (ACSM) and National Strength and Conditioning Association
(NSCA).

Licenses and Permits – Individual localities define the standards for which licenses
and permits you will need. Be sure to look into a business license and any required
health and safety compliance permits as well.

Legal and Processing Fees – You may need professional help negotiating your lease,
closing the property sale, or just muddling through the necessary licenses and permits
for your gym. Fees vary depending on which legal documents you’ll need (Certificate of
Incorporation, Business License, Business Plan, Non-disclosure Agreement,
Memorandum of Understanding, Employment Agreement, Operating Agreement etc.).
Insurance – Insurance is a legal necessity, especially important for a gym. You’ll need
general liability, workers’ compensation, and a surety bond among potential others.
Expect to have around $12,000 in premiums here to start, though rates will vary based
on different factors (such as franchise situations).

Legal and Consulting Fees – You may need professional help negotiating your lease,
closing the property sale, or just muddling through the necessary licenses and permits
for your salon.

Building Improvements and Remodeling – This cost may or may not be necessary
for you, and varies on an individual basis. You’ll at least need to do what it takes to get
the building up to code if it isn’t already. Just keep in mind that remodeling costs add up
quick, so don’t get carried away.

Computer Network and POS System – You’ll need to be set up with an internet
network and a point of sale system to accept modern forms of payment, as well as
proper gym management software to ensure things go smoothly.

Signage – Here’s an opportunity to get creative. Proper gym signage can be pulled off
for as low as $20, though you could easily spend much more.

Employee Uniforms – This is another cost that is entirely up to you. You generally
want some uniformity across staff wardrobe, but for a gym, simple workout clothes and
company logo shirts are typically the norm.

Miscellaneous Gym Supplies – Customers will expect some basic supplies be

available to them, so you should have towels, chairs, etc. on hand.

Merchandise – Don’t overlook a great opportunity to offer customers supplies and

merchandise. Think t-shirts, supplements, protein shakes and powders, water, etc.
Advertising – You’ll want to announce your arrival to attract potential patrons. You
could spend $5000 to run a robust, more traditional ad campaign or go guerilla and
plaster signs in high traffic areas to recruit customers.

Responsive Website – Every modern business needs a web presence. Expect to pay
$300 to $700 for the initial build.

Operating Cash – You’ll want some working capital and cash reserve for normal
business operations. We suggest having at least $1000 on hand.
 LOW HIGH GLOSSARY

RECURRING COSTS:

Mortgage or Lease Payments – Regardless of whether you rent or

n desired size and location you’ll have a monthly expense in the form of a mortgage or lease pa
e building. Aside from space significantly depending on the factors outlined above and the final co
or cardio, yoga or spin amount.
ers or a sauna.

pending on the amount and Insurance – Those $12,000 premiums to start will have to be kept u
0,000 for a personal studio annually, so be sure to factor them into your ongoing budget costs.

g plus. Some certifications to Permits – Compliance permits often have renewal fees. Be sure to
onal Academy of Sports specifics.
n (ISSA), American College
ditioning Association

andards for which licenses Equipment Lease Payments – If you choose to go the leasing rout
cense and any required make sure to budget in those payments. Average cost ranges from $
will vary depending on what kind and how many pieces of equipmen

help negotiating your lease, Utilities – A gym uses a lot of electricity, especially if it’s open 24 ho
ssary licenses and permits operations pay an average of $63,465 to $68,413 annually.
ts you’ll need (Certificate of
sure Agreement,
Operating Agreement etc.).
rtant for a gym. You’ll need
among potential others.
hough rates will vary based
help negotiating your lease,
ssary licenses and permits
or may not be necessary
ed to do what it takes to get
hat remodeling costs add up
set up with an internet
of payment, as well as
othly.
m signage can be pulled off
e.
p to you. You generally
simple workout clothes and
me basic supplies be
n hand.
ustomers supplies and
nd powders, water, etc.
Equipment Repairs and Maintenance – Gym equipment takes a b
Make sure you factor in frequent repair and maintenance costs. This
annually.
Cleaning Supplies – Cleanliness and sanitation is a must for a gym
vacuums, toilet paper, bleach, wipes, laundry service etc. Expect an
for smaller operations. Larger gyms may spend from $12,609 to $29
HVAC Maintenance – This is your heating and air conditioning, and
upkeep for a fitness center. Average cost is $500 annually for routin
Phone and Internet Service – Your patrons will appreciate free WIF
per month, or $900 per year here.
Employee Wages – Employees will earn varying salaries dependin
experience levels. Make sure you have payroll for the first few month
opening—it may take some time to turn a profit.
Payroll Taxes or Self-Employment Taxes – This cost goes alongs
and will vary similarly, according to your business model. Make sure
employees’ and your own particular situation to determine the taxes
they often need to be paid quarterly. If applicable, Self-Employment
around 7.6% of individual revenue.
Credit Card Processing Fees – Standard industry rates for swipe t
exceed 3.25% on the high end, so shop around for your service prov
consider mandatory PCI compliance fees, which typically start at $5
reduce the amount of transactional fees they pay by reducing the nu
make—since members pay monthly costs, retail items can be bundl
costs as they occur.
Marketing – It’s up to you if you want to make your marketing efforts
have to consider your individual business model and measure the re
different marketing strategies.
t potential patrons. You Legal and Professional Fees – This is a fluctuating expense, as it
paign or go guerilla and business model and situation. Just keep in mind that professional se
accounting or legal, typically run about $200 per hour.

eb presence. Expect to pay Miscellaneous Expenses – Even with the most meticulous plannin
problems may arise. It’s always a smart idea to budget in some fund
expenses. We suggest at least $1000 per month.
sh reserve for normal
hand.
 f whether you rent or purchase your location,
mortgage or lease payment. Costs will vary
above and the final cost of the building or loan

will have to be kept up to date and paid

going budget costs.

wal fees. Be sure to check with your locality for

o go the leasing route for your equipment,

ge cost ranges from $3,934 to $8,067, but that
y pieces of equipment you’re leasing.

ially if it’s open 24 hours a day. Larger-scale

13 annually.
 equipment takes a beating day in and day out.
intenance costs. This could cost you $25,040

n is a must for a gym. You’ll need mops,

ervice etc. Expect an average of $150 monthly
from $12,609 to $29,980 annually.

air conditioning, and it’s pretty important

00 annually for routine maintenance.

ill appreciate free WIFI. Expect to spend $75

ng salaries depending on their skills and

for the first few months on hand before
.

This cost goes alongside your wage expenses

ss model. Make sure you consider your
determine the taxes you’ll owe. Keep in mind
le, Self-Employment taxes will shake out to

ustry rates for swipe transactions shouldn’t

d for your service provider. You’ll also have to
h typically start at $5 per month. Many gyms
ay by reducing the number of transactions they
il items can be bundled into their membership

your marketing efforts an ongoing cost. You’ll

el and measure the return on investment of
uating expense, as it depends on your particular
d that professional services, such as
r hour.

st meticulous planning, you never know what

budget in some funds for miscellaneous
h.