projections and a working cash flow
statement. If you don’t have enough
money to cover at least 18 months of
marketing, advertising, payroll and
human resources expenses, you’ll find
yourself on shaky ground.”
Call in the pros
When you’re ready to move forward,
be sure to hire consultants, accoun-
tants and designers who have experi-
ence working with fitness clubs, ad-
vises Russo. “You need advice from
people who understand the pitfalls
specific to the fitness club business.
Designers, for example, need to under-
stand the standard revenue per square
foot of each area in a club, so they al-
locate the right amount of space for
each program. Says Russo, “If your re-
sistance training room, group exercise
studio or front desk area is too big or
too small, you won’t be maximizing
your earnings per square foot.” FBC
Barb Gormley is the senior editor of Fitness
Business Canada, a freelance fitness writer
and a certifie
KeystoneSportsAd.pdf 1 29/07/09 11:24 AM
d personal trainer. Contact her at
www.barbgormley.com.
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November/December 2009 Fitness Business Canada 25
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