Insuring your gym equipment and other assets is a sound business and risk management strategy. Insurance passes the risk of damage or loss to property and equipment from your gym to your insurance company. It gives you a safety net that helps reduce the financial impact of damage and loss of expensive fixed and movable equipment.

The law requires every[...]

As a gym, fitness, or health club owner, you face more risk than other businesses because your primary operations include engaging clients in strenuous exercise every day. While your top priority is your clients' health, wellness, and fitness, you also have the responsibility of taking care of your staff and business.

There are several unique risks[...]

Business insurance can be a source of apprehension for many gym owners. The additional costs of insurance coverage can add up quickly and be a significant portion of your monthly business expenses. However, in gym ownership, insurance cannot be considered a luxury. It is a vital component to ensure your business runs smoothly and is prepared for[...]

One of the most important things you can do to protect your business is purchase liability insurance as a gym owner. Liability insurance protects the property, owner, client, and employee level. However, most insurance companies will want to see a copy of your business license before purchasing liability insurance at the customer level.

Whether you own a small independent gym, a single franchise, or a fleet of gyms, you have an extensive to-do list. From hiring employees and setting up the work schedule to finding customers and maintaining equipment, your days are really full. As an employer, there are many regulations and laws that you must fulfill that protect your employees. You've[...]

Increasingly people are focused on their health, diets, and maintaining and toning their bodies. The fitness industry is booming, and gym memberships are rising. Along with this increase in cash flow, however, comes an increase in risk. Just because you're focused on a good workout doesn't mean you want someone to work money out of your wallet. You[...]

For the past few decades, healthcare costs have been rising faster than inflation, with no signs of slowing down. Unfortunately, this trend leaves many companies searching for ways to save themselves money while minimizing the impact of this costly health care on their business.

The fitness industry annual revenue in the U.S. is valued at $32 billion. The industry is also demonstrating great growth potential, considering it grew by 37% between 2008 and 2018. This trend is reassuring for gym owners, as well as anyone looking to start new gyms. However, it is not a guarantee that your new gym will be a success. Running a[...]

Opening a gym can be a great investment as many more people commit to losing weight and getting fit every year. There has been an increase in physical health awareness over the past decade, with nearly 50% of U.S. adults trying to lose weight in the last 12 months and, according to the CDC, the most commonly reported method was exercising. Gyms provide[...]

Whether you're interested in opening a gym because you love physical fitness or you want to help others feel better, the one constant is that it costs a lot of money to open a gym. You can make your dreams of opening a gym come true when you find the right funding. There are several types of loans for opening a gym available. Depending on your credit[...]