Suggestions by Francesco Perticari, Project Development Specialist in Xenios USA and Business Coach
Since I have been collaborating with Xenios USA, the company I am working with for an ambitious fitness project, I have found many people intended to invest in this business, even with the pandemic.
I have mostly spoken with a lot of enterprising guys, willing to be in this fight, to try it seriously, to have a first person participation.
Times in which opening a functional training center was something new are really far nowadays.
What we used to see as the future of fitness some years ago is now reality, as it manifested by the rising request of tools and materials suitable for Functional Boutiques: medium-small spaces mostly dedicated to functional training in order to keep people fit. Among all of the interviews I have done, there are three attitudes that really strucked me.
These particular behaviors can really represent a huge obstacle for this kind of activity and I want to expose them with this post, in order to help everyone who is trying to approach this particular business. If you belong to this category, or if you are just curious about this topic, I suggest you to read the following three points.
1) CURB VAINGLORY
Try to control your instinct of making big things rather than making things in the right way. I know, you’re proud of your project and you want to achieve big results from it, maybe astounding people during the inauguration day, but keep attention about not investing too much only for ego purposes. Inauguration is a one day experience, while your business is not. A kangaroo leather chandelier, ceramic shower coverings made by a Turkish artist or Fendi armchairs in the waiting room can make a real difference if you are in Dubai, with sheikhs and business men as the target audience, not if you’re in a small town in Italy or wherever in Europe.
In this case, keep under control your starting investment, choose good taste materials who mix functionality and durability in a smart way. Do not save money buying gears only from those who offer something at a good price and don’t buy tools just because you like them. If you really want to scratch out an itch, you are free to buy a lat machine but please, don’t count it as part of the budget. Consider it as a personal purchase.
2) GET HELP
Being a good coach, knowing how to do your work in a good way and being able to empathize with people are all positive skills, but they will not ensure you a spot in the category of efficient business men. The moment you will have your training centre, before being a good technician, act as a pure entrepreneur or learn how to do so if you don’t know it yet. I ensure you that the Italian scene can be harder than the others, but this kind of professional figure also offers better perspectives than the classical one of a simple sports collaborator.
Analyze your skills and try to fill your gaps by asking help from serious and prepared consultants, or rely on companies who offers you a brand license and structured services for a monthly payment. By doing this, you will have a lot of work done, it won’t cost too much and you’ll be able to focus on costumers and production.
The topics you will have to become an expert are many, so don’t underestimate the following things for your brand new activity:
- Tax regimes and billing
- Credit and financing
- Selling
- Marketing (which is not social media advertising)
- Staff management
- Communication and leadership
Get help or start studying.
3) LOOK FOR THE REAL ESTATE DEAL
Don’t be settle for the first satisfactory proposal while searching a place for your activity. Look around, explore, talk with people and find the right deal. Make a list of everything your perfect place needs to have and remember, if you are not the owner of a big vacant shed that you want to make profit from, don’t settle.
Be coherent with your starting idea of finding the right spot for your business and don’t build your Functional Boutique inside the first good space you come across. Don’t make your motivation to accelerate your opening time to become a Trojan horse through which real estate agents can trick you by selling bad structures that will inevitably ruin your project. If you own a place, you will start with an advantage but remember to avoid mistakes like disregarding costs or taking the rent out of earnings.Avoid these behaviors like they were the black plague and follow your dreams.
Since 2009, we’ve been by your side, helping you create the perfect training spaces for Cross Training Boxes, Personal Trainer Studios, and professional Home Gyms.
