Crossfit is a very popular form of exercise across the world. If you’re a fan of Crossfit and have become a dedicated practitioner, there’s a strong likelihood that you have thought about starting a Crossfit gym equipment center, or box, on your own.
Of course, as for any type of gym or fitness center, there are certain things you need to think about in order to do this, which is why we have put together this Crossfit box calculator post.
How To Calculate The Costs For A Crossfit Box
How much does it cost to open a Crossfit gym? This is the question that every aspiring box owner or manager asks themselves.
The truth is, each and every box will be different. It really depends on the clientele you want to cater to, as well as where your box will be located. However, there are commonalities that you need to consider for all various boxes, which are listed below to help you determine some of the main costs for your Crossfit box calculator.
To start off, you need to consider the following main costs, especially at the beginning:
The size of the space you want to rent will be determined by the number of people you are able to cater for. This means that you need to calculate how many people can fit into the space at a given time and estimate the floor and ceiling space that you will need.
After that, you can get a good idea of the square space per foot that you need. Then, you can calculate rent accordingly by investigating the rental per square footage in different areas.
A safe estimate for utilities is about $2-3 per square foot. So, depending on the size of the space that you want to rent, you can calculate the cost of your utility bill.
Take into account that this will depend on where you are located and take climatic considerations into account. It’s also helpful to add on an extra 20% to that estimate to cover any other additional utility costs that you might not force.
One recommendation is to base your estimate on equipment costs according to the number of Crossfit members that will be attending your classes.
A safe estimate for a mid-range membership package is $1000 per athlete, assuming you have a class of 12 to fill. Therefore, you can look at about $12000 per year to outfit your gym. Although, this will depend on the size of the gym you intend to open.
Access control is another important consideration to add to your Crossfit box calculator estimations.
Crossfit Gym Business Plan
In addition to considering the main costs above, you will also need to investigate how much it will cost you to employ people, as well as implement membership and bookkeeping software, insurance costs, and affiliate Crossfit fees.
Once you have established these costs, you can then start to lay out a Crossfit gym business plan. This involves setting key milestones for the growth of your business. These include how you see your business growing in the years ahead and how you see your cash flow meeting this intended growth.
To give some perspective, the average Crossfit gym failure rate is 2%, which seems low considering that there is a year on year growth of 166%. This gives an idea of the average Crossfit gym success rate.
These figures can help add to your planning. Although the failure rate is low, the high rate of growth shows that there might be a lot of competition, which makes it even more important to do proper planning.
How To Make A Crossfit Gym Profitable
Learning how to make a Crossfit gym profitable is an ongoing exercise, literally. However, taking the time to consider the long term growth of your business will stand you in good stead for success.
This includes implementing protocols from day one that will help you to scale. These include membership and bookkeeping software and membership deals.
It also involves being very strategic about your price point, and not creating any confusion with “special deals”.