gym funding

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Dec 7, 2009
New England
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.

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