gym funding

DON'T LURK... Join The Discussion!

Members see FEWER ads

Am still working on opening this gym, just in case it can happen some how. Any ideas on how to get funding? I have an investor willing to pay for all the equipment, but we need a building. They are expensive to buy, lease or build.
 
Our plan is to get an sba loan. I'll have 75k for a down payment and we're going to shoot for 75k in loans. We're moving in with my girlfriend's parent for the first year. I already have 20k set aside for living expenses so we wont have to take any money out of the gym. I feel that is our biggest advantage.

The buildings are expensive. In the Virginia Beach area the lowest rent I've seen in the area we want to be in is $12 per square foot per year. When you're talking about a 4,500 square foot space that is a pretty hefty rent. Hopefully we take off and can build something with in the first 5 years. We'll see.

Jason
 

New Posts

DON'T LURK... Join The Discussion!

Members see FEWER ads

Gymnaverse :: Recent Activity

College Gym News

Back