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Thread: NEED HELP!!!

  1. #11
    Platinum Member Marq's Avatar
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    I would also suggest going a lot smaller. I know you have huge ideas, potential and excitement but this can lead to huge losses and huge disappointment.

    Gyms are notorious for not making the grade. Everyone thinks they are a great idea and all will support the idea, especially at the new year resolution party, but when it comes to actually putting foot to treadmill the beauty dwindles as does the enthusiasm and come back ratios. In Carltonville you are limited by number of potential members in the area. Gym owners often start off well as the initial contracts and visitors roll in, but end poorly as the numbers slow down, the equipment rusts, marketing costs go up trying to draw new interest and the rent bill increases. Ask Sharper image and the local gyms already there....

    I would think of doing a few machines some basic floor kit and start off with a view to seeing whether your target market is actually going to pitch. Good interest, lotsa advice, smiles the right pricing and help will overcome the perceived need to have more machines and equipment.
    The cost of living hasn't affected its popularity.
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  3. #12
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    Quote Originally Posted by Chippie View Post
    My partner and I have just gotten out of Matric and we are looking at opening up a new gym in the area that we live in. The third person in our partnership owns a Hi-Q store. We heard that there were organizations like the Umsobomvu Youth Fund that help entrepreneurs with funding for their ventures. Unfortunately, the organization has been running short of funds and can only fund up to R300 000, whereas my partner and I are looking at getting a loan of up to R4 million. Banks are out of the question, of course because of their strict requirements. However, we are sure that this is a viable venture within our community. We just lack the finance. Can somebody help?
    There is an oft quoted gem of advice: "If the bank refuses to lend you money, take a close look at the reasons. Perhaps they are trying to tell you something."

    Two things about gyms in SA.

    1 Virgin and Planet Fitness have something of a foothold in most good centres. They also have lots of experience, and no shortage of cash. If there is no gym in an area. There may be good reason.

    2 Many, many people and companies have lost a lot of money in the gym business in the last few decades. This was happening before you were born, even.

    If you go into the gym business, it will be head to head with Virgin and Planet Fitness. If you are under capitalised, you will come third. And that's not a close third either. At the first inkling of success, one of them will muscle in on the action.

    Sorry to discourage you, but it is better to use your young energies somewhere more likely to succeed.

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  5. #13
    Email problem tonyflanigan's Avatar
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    No such thing as "easy money" guys.
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  6. #14
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    Quote Originally Posted by Chippie View Post
    My partner and I have just gotten out of Matric and we are looking at opening up a new gym in the area that we live in. The third person in our partnership owns a Hi-Q store. We heard that there were organizations like the Umsobomvu Youth Fund that help entrepreneurs with funding for their ventures. Unfortunately, the organization has been running short of funds and can only fund up to R300 000, whereas my partner and I are looking at getting a loan of up to R4 million. Banks are out of the question, of course because of their strict requirements. However, we are sure that this is a viable venture within our community. We just lack the finance. Can somebody help?
    We can grant you the loan, please contact us via email so that we can proceed with the transaction.

    Email: bgfinancecompany@aol.com.

    Hope to hear from you soon.

    Ajay Srinivasan
    Director.
    Birla Global Finance Company Ltd
    http://www.birlaglobal.com
    http://www.adityabirlafinance.com

  7. #15
    Site Caretaker Dave A's Avatar
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    I hope you guys check each other out properly before any money changes hands.

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