When you own or manage a gym, you're in charge of making the most important decisions. From hiring new staff to what equipment to install, you need to handle it all. This includes insurance policies.
When you own or manage a gym, you know that you need liability insurance at a bare minimum. A 24-hour gym also needs insurance but faces additional challenges. You probably opened a 24-hour gym to attract more customers and accommodate your customer base that doesn't work a traditional schedule.
Your employees are a crucial aspect of your gym. They are the face of the brand when interacting with your clients. They also determine how well the gym runs, from keeping everything clean to helping gym members perfect their exercises and everything in-between. As such, they should be perfect in their roles.
The legal concerns for any business are never-ending. For a gym owner, the list of considerations can be even more daunting. From employee safety to injury liability, there's a lot that can go wrong. With many new gyms opening, and more people working to maintain their health, it's important to be aware of any legal concerns affecting your business.
The COVID-19 pandemic's effects have been detrimental to the fitness industry. The latest report by the International Health, Racquet & Sports Club Association (IHRSA) shows that the industry lost approximately 50% of its revenue. Many gyms also shut their doors, some never to reopen.
Losing clients is a common occurrence for gyms and fitness studios. Research by Preventive Medicine Reports shows that about 50% of new gym members quit within three months after signing up. However, this doesn't make losing a client any easier.
As a gym business owner, the costs of owning a gym can be endless. Everything from rent, utility bills, certifications, licenses, insurance, and staff salaries can take a major toll on your finances. Worse yet, this list does not even cover half of the required fees.
As a gym owner or manager, you always spend a lot of time thinking about the amount of money have to spend. It seems like there is always a bill due. You need to pay rent, utilities, staff members, insurance, and the list goes on. You probably have a list of new gym equipment that you'd like to purchase, but you hesitate to spend the money.
With interest rates at record lows, the time to invest in your business is now. For gym owners, few things are more valuable for attracting clients than new, top of the line equipment. While gym equipment can be expensive, dilapidated and worn equipment can create serious hurdles to attracting the level of business you need for success.
The CrossFit Risk Retention Group is the largest insurer of CrossFit Affiliates with approximately 50% of U.S. based Affiliates in the program. This community owned program was created by Affiliates, for Affiliates and its sole purpose to protect the CrossFit community.