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ok, guys, my head is all over the place looking for different streams of income.
I'm thinking of a forum website to start. I'm not quite sure where that will take me but on the other hand, my husband and I are considering opening a gym.
We went driving around to a new strip mall, in a new neighbourhood and were happy to find out that there was no gym in proximity. The trip mall has a few banks, a Tim Horton's, Starbucks, coffee waves (3 coffee shops in proximity, wow), a few high end spas, a pre-school. It's an an expensive neighbourhood. Houses are no less than 900k to start.
My husband is so excited about it but I'm a little scared.
We have about 80k saved up. We lost 38k when we attempted an online business. Most of the money was spent on getting the website built and also marketing.
My husband is an active guy, he's always at the gym but I'm the type that pays for it but don't go. He thinks a lot of people are either like him or like me and we'll gain either way.
Why am I scared?
We called a manufacturer, he says it takes about 350k to buy all equipments for a 10,000sqft gym. To that, we have to add a lease, and at least one staff, plus, we're IT consultants, we've never run a gym before.
Going for a franchised gym (Anytime fitness or Snap fitness) is around 70k, and they will offer an existing system that works.
I know the community on Fastlane does not encourage going for a franchise, but what would you do if you were in out shoes?
I'm thinking of a forum website to start. I'm not quite sure where that will take me but on the other hand, my husband and I are considering opening a gym.
We went driving around to a new strip mall, in a new neighbourhood and were happy to find out that there was no gym in proximity. The trip mall has a few banks, a Tim Horton's, Starbucks, coffee waves (3 coffee shops in proximity, wow), a few high end spas, a pre-school. It's an an expensive neighbourhood. Houses are no less than 900k to start.
My husband is so excited about it but I'm a little scared.
We have about 80k saved up. We lost 38k when we attempted an online business. Most of the money was spent on getting the website built and also marketing.
My husband is an active guy, he's always at the gym but I'm the type that pays for it but don't go. He thinks a lot of people are either like him or like me and we'll gain either way.
Why am I scared?
We called a manufacturer, he says it takes about 350k to buy all equipments for a 10,000sqft gym. To that, we have to add a lease, and at least one staff, plus, we're IT consultants, we've never run a gym before.
Going for a franchised gym (Anytime fitness or Snap fitness) is around 70k, and they will offer an existing system that works.
I know the community on Fastlane does not encourage going for a franchise, but what would you do if you were in out shoes?
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