There’s never been a better time to learn how to start a boxing gym. Today, 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. In this guide, we’ll show you exactly how to develop a strong business strategy and the 5 steps you need to take to start your boxing gym.
Let’s get started.
The Fundamentals of Starting a Boxing Gym
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 community space 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.
Essentially, it comes down to budget and availability. If you’ve never trained a large group before, a small community space might be better suited to your needs.
Who Should Open a Boxing Gym
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.
If you’re not a strong boxing advocate
If you’re looking to learn more about the fundamentals of setting up a fitness business, we have a full guide that can help you here.
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.
If you’re looking for a platform that can help you manage your revenue and where your money is going, then ABC Glofox is the fitness platform for you.
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.
Read More: April Fisk’s Guide to Franchise Success
The 6 Crucial Steps to
Opening a Gym or
Studio
Discover more 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.
If you’re looking for a full guide on everything you need to run a fitness business, we have a free downloadable eBook for you.
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.
1. Plan Every Single Step of the Process
Go from step one to your wildest dreams. When it comes to planning, you can never be too detailed (as long as you’re realistic). Here are a few assets you should create to help you with planning your business and attracting investors:
- Executive summary
- Company overview
- Industry analysis
- Customer analysis
- Competitor analysis
- Marketing strategy
If you’re looking for more tips on how to set up your fitness business, then make sure to check out our free downloadable guide.
2. 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? Are you opening a boxing club? How many members do you need to cover the expenses? Consider which trade-offs you will make, if any, for a high visibility location or for low overhead.
Remember, your ideal location is most likely going to cost a lot more than something that works just for the short term. Make sure that you’ve factored your budget into your business plan and make the choice that doesn’t bury you in too much debt to manage.
Read More: How to Choose Your Business Location
3. Get Funding
Unless you’re starting a bare-bones boxing business with no indoor space, equipment, or additional staff, you’re going to need a lot of funding. 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.
Read More: How to Fund Your Fitness Business
4. 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.
Hiring staff is one of the biggest pitfalls for any business owner. It takes a considerable amount of time and skill to learn how to effectively manage and motivate your staff. Luckily, ABC Glofox can help you in keeping your team happy and engaged with your business goals.
5. Get Marketing
With everything in place, it’s finally time to start advertising yourself. As with funding, the possibilities are endless. Budget, of course, should be your first consideration, but never underestimate the power of community. The easiest way to promote your business is to provide an exceptional member experience and an even better set of results. Your members are, by far, your greatest asset when it comes to marketing: word of mouth is still king when it comes to lead generation. Simple promotions like bringing a friend for free promotions or referral offers can do wonders for your business.
This may take a lot of time, but it can be very easy to automate, with the right tool. ABC Glofox can help you stay in constant contact with your members.
How ABC Glofox Can Simplify Your Business Goals
Essentially, the ABC Glofox platform can be the fitness business partner you’ve been looking for, saving you time, money, and effort.
On average, ABC Glofox users:
- Cut their admin time by 20%
- Boost their revenue by 150% in 18 months
- Increase their leads by 250%
This is Victoria Thomas, founder of JourneyFit, discussing how ABC Glofox is the heartbeat of her business.
Our platform is trusted by some of the biggest fitness providers in the world, including Snap Fitness, Jazzercise, and F45. Our platform is designed to save you time and grow your business, letting you get a 360-degree view of where your revenue is coming from and how your members are behaving.
If you’re interested in learning more about how ABC Glofox can boost your fitness business, book a call today.
