Do you want to start a gymnastics school? If YES, here is a 20-step guide on how to start a gymnastics school business with no money or experience Please note that if you intend starting this type of business, it is advisable to first look at the existing laws and zonal regulations in the country or state you reside to know what is expected of you.
The bottom line is that you would need to pay a visit to the regulatory bodies in your country to know what you need to do before you can legally open your own gymnastics school. You can start your gymnastics school business from a small town in the United States and if you are good at what you do, it won’t be too long before your brand becomes a nationally recognized brand especially if you go into franchising.
20 Steps on How to Start a Gymnastics School in the United States
Table of Content
- 1. Understand the Industry
- Interesting Statistics About the Sports Coaching Industry
- 2. Conduct Market Research and Feasibility Studies
- 3. Decide Which Niche to Concentrate On
- 4. Know Your Major Competitors in the Sports Coaching Industry
- 5. Decide Whether to Buy a Franchise or Start from Scratch
- 6. Know the Possible Threats and Challenges You Will Face
- 7. Choose the Most Suitable Legal Entity (LLC, C Corp, S Corp)
- 8. Choose a Catchy Business Name from the ideas
- 9. Discuss with an Agent to Know the Best Insurance Policies for You
- 10. Protect your Intellectual Property With Trademark, Copyrights, Patents
- 11. Get the Necessary Professional Certification
- 12. Get the Necessary Legal Documents You Need to Operate
- 13. Raise the Needed Startup Capital
- 14. Choose a Suitable Location for your Business
- 15. Hire Employees for your Technical and Manpower Needs
- 16. Write a Marketing Plan Packed with Ideas & Strategies
- 17. Work Out a Reasonable Pricing for your Services & Products
- 18. Develop an Iron-clad Competitive Strategies to Help You Win
- 19. Brainstorm Possible Ways to Retain Clients & Customers
- 20. Develop Strategies to Boost Brand Awareness and Create a Corporate Identity
1. Understand the Industry
Gymnastics school falls under the Sports Coaching industry and this industry includes one-on-one sports training at athletic facilities as well as camps and schools that offer instruction in athletic activities to groups or individuals. Overnight and day sports instruction camps are also included in this industry.
Instruction typically occurs on a daily basis and, in some cases, clients may stay on establishment grounds for extended periods of time, including for all-day and overnight camps and specialized training sessions. IBISWorld estimates industry revenue will increase at an annualized rate of 2.0 percent to $9.4 billion over the five years to 2020.
Industry growth has been bolstered by a high percentage of individuals who participate in sports, which has increased the pool of available clients for industry participants. In addition, the number of adolescents aged 10 to 19, a key market for this industry, is expected to increase slightly.
Interesting Statistics About the Sports Coaching Industry
The Sports Coaching industry of which gymnastics school line of business is subset of is indeed a very large industry and pretty much thriving in all parts of the world. Statistics has it that in the United States of America alone, there are about 148,713 licensed and registered sports coaching related businesses responsible for employing about 260,722 employees and the industry rakes in a whooping sum of $9 billion annually with an annual growth rate projected at 2.0 percent between 2015 and 2020.
It is important to note that this industry has no major players with a market share greater than 5 percent but leaders in the industry includes; IMG Academies, US Sports Camps, Arnold Palmer Golf Management LLC and Velocity Sports Performance Franchise Systems LLC.
Recent research published by IBISWorld shows that increased promotional and governmental support for sports participation is expected to benefit the Sports Coaching industry over the five years to 2025. Concerns over obesity levels, particularly in children, have resulted in a concerted effort by governments and communities to promote balanced diet and exercise.
Initiatives taken by governments, businesses and communities will likely continue to encourage participation in sporting activities, boosting demand for sports instruction. Furthermore, government support for physical education in schools and the use of the media to encourage more active lifestyles are expected to drive revenue growth.
Starting a gymnastics school business in the United States of America can stressful, it requires enough cash to acquire land large enough to accommodate the kind of facility that can comfortably attract children cum families and also cash required to equip the school to meet the standard expected by potential students.
- Demographics and Psychographics
The demographic and psychographic composition of those who patronize gymnastics school cut across all genders; male and female, children and adult alike with the financial means and who want to learn gymnastics for the purpose of competing or just for physical fitness hence the demographic composition for gymnastics school business is all encompassing. In essence, your target market can’t be restricted to just a group of people, but all those who reside within your target market location.
3. Decide Which Niche to Concentrate On
It is important to state that there are no niche ideas in this line of business because gymnastics school is a niche idea in the Sports Coaching industry.
The Level of Competition in the Sports Coaching Industry
The competition that exists in the gymnastics school business goes beyond competitions with gymnastics schools within the city or state where your gymnastics school is located; you will be expected to compete with gymnastics schools outside your state and even other gyms and fitness facilities that also offer gymnastics training. So, it will be right to say the competition in the gymnastics school line of business is relatively tough.
The truth is that no matter the level of competition in an industry, if you have done your due diligence and you brand and promote your services or business properly, you will always make headway in the industry. Just ensure your gymnastics school facility is well furnished and equipped, your licensed gymnastics instructors and coaches are well – trained to teach newbies, your services are affordable, your customer care services is top notch and you know how to attract and reach out to your target market.
But over and above, there are several gymnastics schools scattered all around the United States. So, if you choose to start your own gymnastics school in the United States, you will definitely meet stiff competition. Besides, there are larger gymnastics schools that determine the trend in the industry and you should be ready to compete with them for customers.
4. Know Your Major Competitors in the Sports Coaching Industry
Here are some of the most popular gymnastics schools in the United States of America;
- Los Angeles School of Gymnastics
- Mills Gymnastics USA
- Broadway Gymnastics Schools
- Flight Schools Gymnastics
- Cypress Academy of Gymnastics
- Artistic Gymnastics School
- Gymland School of Gymnastics
- Gold Cup Gymnastics School
- Ms J’s Gymnastics and Dance
- Fusion Tumbling and Fitness
- Irene School of Rhythmic and Gymnastics
- West Valley Gymnastics School
- Capital Gymnastics
- Acrobatic Gymnastics of San Antonio
- Harrisburg Gymnastics School
If you are looking towards successfully launching a business and maximizing profits, then you need to ensure that you get your economic and cost analysis right and try as much as possible to adopt best practices in the industry you choose to build a business in.
Gymnastics school business is not a green business, as a matter of fact, you will come across several gymnastics schools when you drive through the city or when you search both online and offline directories. So, if you are mapping out your economic and cost analysis, you should carry out thorough market survey and costing of the required amount needed to secure sporting facility and equipment, hiring gymnastics coaches and other fitness instructors,secure Business License, build software apps and also the cost to successfully run the business.
Over and above, if you are considering starting a gymnastics school, then your concern should not be limited to the cost required to a gymnastics sporting facility and equipment, but also on branding and on how to build a robust clientele base. The truth is that if you are able to build a robust clientele base, you are sure going to maximize profits in the business.
5. Decide Whether to Buy a Franchise or Start from Scratch
There is no hard and fast rule when it comes to choosing how you intend starting a business. Basically, you should be guided by your overall business vision and mission statement.
If you are looking towards starting a gymnastics school, you have the option of either buying a franchise or starting from the scratch, but we would usually advise our readers to start from the scratch because it will afford you the opportunity to explore and come up with unique concept that will place you in the forefront in the Sports Coaching industry.
Please note that most of the successful gymnastics schools around started from the scratch and they were able to build a solid business brand. It takes dedication, hard work and determination to achieve business success.
6. Know the Possible Threats and Challenges You Will Face
If you decide to start your own gymnastics school today, one of the major challenges you are likely going to face is the presence of well – established gymnastics schools and other gym and fitness studios within your business location who are also offering same services you intend offering. The only way to avoid this challenge is to create your own market.
Some other challenges and threats that you are likely going to face are economic downturn and unfavorable government policies.
7. Choose the Most Suitable Legal Entity (LLC, C Corp, S Corp)
Generally, you have the options of either choosing a general partnership, limited liability company which is commonly called an LLC, or a sole proprietorship for your Gymnastics school. Ordinarily, sole proprietorship should have been the ideal business structure for a small – scale gymnastics school especially if you are just starting out with a moderate startup capital in a small neighborhood.
But if your intention is to grow the business and open branches and sell franchises all across the United States of America, then choosing sole proprietor is not an option for you. Limited Liability Company, LLC or even general partnership will cut it for you.
Normally, when it comes to choosing a name for your business, you should be creative because whatever name you choose for your business will go a long way to create a perception of what the business represents. Typically, it is the norm for people to follow the trend in the industry they intend operating from when naming their business.
In the United States and in most countries of the world, you can’t operate a business without having some of the basic insurance policies that are required by the industry you want to operate from. Thus, it is imperative to create a budget for insurance and perhaps consult an insurance broker to guide you in choosing the best and most appropriate insurance policies for your business.
Here is some of the basic insurance policies that you should consider purchasing if you want to start your own gymnastics school business in the United States of America;
- General insurance
- Health insurance
- Liability insurance
- Risk Insurance
- Workers compensation
- Building/Property insurance
- Overhead expense disability insurance
- Business owner’s policy group insurance
- Payment protection insurance
10. Protect your Intellectual Property With Trademark, Copyrights, Patents
If you are considering starting your own gymnastics school business, usually you may not have any need to file for intellectual property protection / trademark. This is because the nature of the business makes it possible for you to successful run it without having any cause to challenge anybody in court for illegally making use of your company’s intellectual properties.
But if you just want to protect your company’s logo and other documents or software that are unique to you or even jingles and media production concepts, then you can go ahead to file for intellectual property protection. If you want to register your trademark, you are expected to begin the process by filing an application with the USPTO. The final approval of your trademark is subjected to the review of attorneys as required by USPTO.
11. Get the Necessary Professional Certification
Irrespective of the results you produce, professional certification is one of the main reasons why some Gymnastics schools stand out. If you want to make an impact in the Sports Coaching industry, you should work towards acquiring all the needed certifications in your area of specialization.
You are strongly encouraged to pursue professional certifications; it will go a long way to show your commitment towards the business. Certification validates your competency and shows that you are highly skilled, committed to your career, and up-to-date in this competitive market. These are some of the certifications you can work towards achieving if you want to run your own gymnastics school;
- USAG Certified
- Level 2 certified coach
- Certified Tumbling Instructor
- Gymnastics Coaching Certification
- Certified Gymnastics Instructor
- Degree or Diploma in Health and Fitness Related Courses
Please note that an experienced gymnast can operate a non – accredited gymnastics school without owning a certification howbeit on a small scale.
12. Get the Necessary Legal Documents You Need to Operate
It is a fact that you cannot successfully run any business in the United States without the proper documentations. If you do, it won’t be too long before the long hands of the law catch up with you. These are some of the basic legal documents that you are expected to have in place if you want to legally run your own business in the United States of America;
- Business and liability insurance
- Federal Tax Payer’s ID
- State Permit
- Certificate of Incorporation
- Business License
- Business Plan
- Employment Agreement (offer letters)
- Operating Agreement for LLCs
- Insurance Policy
- Company Bylaws
- Memorandum of Understanding (MoU)
Starting a gymnastics school is no doubt expensive except you choose to start on a small scale without a well – equipped studio. The amount needed to acquire the required business licenses, customized software apps, well-equipped facility and paying your workers are part of what will consume a large chunk of your startup capital.
So, if you choose to start the business on a large scale, you need to go source for fund to finance the business because it is expensive to start a large – scale gymnastics school with loads of full – time employees. No doubt when it comes to financing a business, one of the first things you should consider is to write a good business plan.
If you have a good and workable business plan document in place, you may not have to labor yourself before convincing your bank, investors and your friends to invest in your business. Here are some of the options you can explore when sourcing for startup capital for your Gymnastics school;
- Raising money from personal savings and sale of personal stocks and properties
- Raising money from investors and business partners
- Sell shares to interested investors
- Applying for loan from your bank
- Source for soft loans from your family members and your friends.
Starting a gymnastics school business comes with its own challenges; it is a business that cannot be started in any location. As a matter of fact, you will need approval from local council and other regulating authorities in the city you intend opening your business.
It cannot be overemphasized that the location you choose to start your business is key to the success of the business, hence entrepreneurs are willing to rent or lease a facility in a visible location; a location where the demography consists of people with the required purchasing power and lifestyle.
If you make the mistake of renting or leasing a facility for your gymnastics school business in a not too visible or hidden location simply because it is cheap, then you must be prepared to spend more in promoting the business. These are some of the key factors that you should consider before choosing a location for your gymnastics school business;
- The demography of the location
- The demand for the services of gymnastics school and other cheerleading and fitness related businesses in the location
- The purchasing power of residents of the location
- Accessibility of the location
- The number of gymnastics facilities and other gym and fitness related services in the location
- The local laws and regulations in the community
- Traffic, parking and security et al
If you are considering starting a gymnastics school then you would need to develop your own unique administrative software application secured internet platform and online payment system for easy payment of membership fees. So also, you will need computers / laptops, internet facility, telephone, fax machine and office furniture (chairs, tables, and shelves) and above all gymnastics and fitness studio equipment and gadgets and all these can be gotten as fairly used.
As regard leasing or outright purchase of a gymnastics school facility, the choice is dependent on your financial standing, but the truth is that to be on the safe side, it is advisable to start off with short – term rent / lease while test running the business in the location. If things work out as planned, then you go on a long – term lease or outright purchase of the property but if not, then move on and source for other ideal location/facility for such business.
When it comes to hiring employees for a standard gymnastics school, you should make plans to hire a competent Chief Executive Officer (You can occupy this role), Facility Managers, Gymnastics Coaches and Instructors, Sales and Marketing Officer, Accounting Clerk, and Customer Service Executives. You may need a minimum of 15 full time – staff to start a Gymnastics School.
The Service Delivery Process of a Gymnastics School business
When it comes to the service delivery of gymnastics school; it depends on the goal or what the students wants to achieve. It could range from training to compete as a professional gymnast or just losing weight to staying healthy and fit to even just having fun.
Basically, most gymnastics schools register students and take them through both theoretical and practical gymnastics trainings.
The fact that the entry barrier for starting even a small – scale gymnastics school is low means that more players would want to come into the industry if they have space. In essence, you must come up with unique marketing strategies if you must carve out a market for yourself within the available market in your community, city, state or country.
So, when you are drafting your marketing plans, make sure that you create a compelling company profile. Aside from your qualification and experience as a licensed gymnastics Instructor, it is important to clearly state what you have been able to achieve in time past. This will help boost your chances in the market.
Here are some of the platforms you can utilize to market your gymnastics school – business;
- Introduce your gymnastics school by sending introductory letters alongside your brochure to households, schools, colleges and other key stake holders in and outside the city where your gymnastics school is located
- Advertise on the internet on blogs and forums, and also on social media like Twitter, Facebook, LinkedIn to get your message across
- Create a basic website for your business so as to give your business an online presence
- Directly market your gymnastics school and services.
- Join local gymnastics school associations for industry trends and tips
- Provide discount for your customers
- Advertise our business in community – based newspapers, local TV and radio stations
- List your business on yellow pages ads (local directories)
- Encourage the use of word of mouth marketing (referrals)
17. Work Out a Reasonable Pricing for your Services & Products
One key factor that will help you offer your gymnastics school services at a price that is highly attractive is to ensure that you source your startup capital from sources that won’t put pressure on you or give you high interest rate.
Another strategy that will help you offer gymnastics school services at the right price is to ensure that you cut operational cost to the barest minimum, channel your efforts towards marketing and promoting your brand name. Aside from the fact that this strategy will help you save cost, it will also help you get the right pricing for your products and services.
So also, if you are able to secure business partnership as it relates to getting referrals, then you will be able to get the right pricing and of course maximize profits from your business.
The availability reliable and easy to learn gymnastics sessions cum programs in your school, availability of a professional gymnastics coaches and instructors, your business process and of course your pricing model are part of what you need to stay competitive in the industry.
Another possible competitive strategy for winning your competitors in this particular industry is to build a robust clientele base. Over and above, ensure that your organization is well positioned, key members of your team are highly qualified and your services can favorably compete with the some of the best in the industry.
19. Brainstorm Possible Ways to Retain Clients & Customers
When it comes to business, no matter the industry that you choose to pitch your tent in, one of the easiest ways to increase customer retention and perhaps attract new customers is to produce results and satisfy your customers always. If your customers are satisfied with your products and service delivery, they can hardly source for alternative service providers.
If your services and customer service fluctuate, you are likely going to struggle to get your customers retaining your services. Ensure that you offer your customers incentives if you want to retain them and of course continue to generate repeated sales from them and also to attract new customers.
Part of what you need to do to achieve this is to track progress, results or outputs with the aim of improving on them quickly as the case demands. When it comes to managing your customers and building a loyal clientele base, you should purchase a customized CRM software.
With a customized CRM system, you can easily stay in touch with your clients (you can carry out quick surveys, you can introduce new products and prices to them without any hitch, you can felicitate with them on their birthdays and other anniversaries, you can keep track of their progress, you can send bulk sms and customized e – mails and above all, you can easily receive compliant and feedback from them).
20. Develop Strategies to Boost Brand Awareness and Create a Corporate Identity
If you are in business and you are not conscious about boosting your brand awareness and communicating your corporate identity, then you should be ready to take on whatever the society portrays your business to be. One of the secrets of larger corporations is that they are willing to spend good money to boost their brand awareness and to continue to communicate their corporate identity the way they want people to perceive them to be.
No matter the industry you belong to, the truth is that the market is dynamic and it requires consistent brand awareness and brand boosting cum promotion to continue to appeal to your target market. Here are the platforms you can leverage on to boost your brand and create a corporate identity for your gymnastics school;
- Place adverts on both print (newspapers and health and fitness related magazines) and electronic media platforms
- Sponsor relevant community – based events / programs
- Leverage on the internet and social media platforms like; Instagram, Facebook, Twitter, YouTube, Google + et al to promote your gymnastics school
- Install your Bill Boards in strategic locations all around the location where you have your gymnastics school
- Distribute your fliers and handbills in target areas
- List your gymnastics school in local directories / yellow pages
- Advertise your gymnastics school in your official website and employ strategies that will help you pull traffic to the site.
- Position our Flexi Banners at strategic positions in the location where your gymnastics school is located.
- Ensure that all your staff members wear your branded shirts and all your vehicles and vans are well branded with your company logo et al.