When you’re shopping for a gym space, there are many things to take into consideration. Here are the top 10 things to consider when you’re looking for a space.
When you understand what type of facility you want to offer, then it’s time to understand the amount of square feet you will need to start looking for. Try not to limit yourself to a specific number, but rather find a space that can accommodate your needs. For example, you may be looking for 5000 sq ft however, you find a building that’s 4500 sq ft but fits your needs in terms of shape and location.
The amount of parking spaces is not the only consideration when it comes to this variable. Look at the area around the building. Is it in a shopping center that has a popular restaurant that will compete for parking when you’re at your peak hours? Does it only have street parking? What other businesses are around it? Are they of the same caliber that you’re trying to build your business? Not all of these items are deal breakers, but you need to have a plan if something is going to cause difficulties accessing your gym.
Get a good understanding of the demographic information within a 10-20 mile radius of your building. Know your area and understand what type of facility they are looking to train in. You can use public record to understand the people in your community to help make better decisions on your vision. Bringing the community a facility they want and need is important to your success.
Your potential building might be close in proximity to a large population, but if there’s a body of water, a bridge, railroads and industrial facilities nearby, this could cause issues. Be aware of the geography and understand how that can impact your members.
It should go without saying, but read your terms carefully. Many times, you can negotiate the terms of your lease. If there’s a neighboring space that will come in handy down the line for expansion, ask for the right of first refusal on that space. If you don’t see any Common Area Maintenance included, ask for it. Do all of this BEFORE you sign the lease because once your signature is on that paper, the building owner doesn’t have to do anything that’s not on the contract.
Or, “Common Area Maintenance.” A lot of building leases will include some of your expensive maintenance services, like sealing parking lots, HVAC, center improvements, and exterior lighting/security. Do your research on what is included in your lease’s CAM clause and if something is not included, be sure to budget for these items or repairs if needed.
Finally, you’re going to have a list of boxes that need to be checked. Prioritize what’s important to start the business, but don’t lose sight of what can be done in the future. You need to be able to make educated decisions quickly to avoid missing an opportunity, however, understanding your circumstances are just as important as well. Also, being able to plan accordingly when finding a facility is important. Understanding the timelines of various buildings will help you make the best decision on your new space.
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