Start a neighbourhood gym with memberships

Local residents and workers who want a friendlier, cheaper or more convenient alternative to a big chain, plus beginners and older adults who prefer a quieter place.

Monthly memberships by direct debit, plus day passes, joining fees, class packs, and optional extras such as personal training or vending.

• Fitness knowledge or a trusted qualified team
• Selling memberships and keeping members
• Budgeting and managing a lease
• Customer service

• Planning and permitted use of the unit: check with your local council before signing a lease
• Public liability insurance, plus employer's liability once you hire staff
• Fire risk assessment, health and safety checks and first aid cover
• Music licensing if you play music, check what PPL PRS licence you need
• Business rates, rent and equipment costs before you have many members
• Whether any coaches or instructors hold recognised qualifications and insurance

Startup costs are typically around £40,000 to £150,000, depending on the size of the unit, whether equipment is new or second-hand, and the fit-out. Rent, business rates and equipment all need budgeting before you have many members.

Monthly revenue is typically estimated at around £5,000 to £25,000, depending on membership numbers, pricing and whether you run classes. Revenue is not profit, so rent, rates, staff and equipment costs come out of it.

Check planning and permitted use of the unit with your local council before signing a lease. Also check public liability insurance (plus employer's liability once you hire staff), fire risk assessment, health and safety, first aid cover and music licensing.