As exciting and rewarding as CrossFit training is, many enthusiasts turned gym owners assume operating a fitness business is easy. While for some, it is, but the truth of the matter is no amount of training can fully prepare anyone for the challenges they’ll encounter along the way, especially in light of the recent pandemic.
Operating a gym or working as a trainer or fitness professional is not for the weak or unprepared. Fitness professionals are vulnerable to unique risks and liabilities that could mean financial ruin without the right provisions and resources, primarily insurance for gyms. Gym liability insurance is an investment that not only protects fitness[...]
As a gym owner or manager, you want to protect your business and ensure the safety of your staff and members. There are a variety of different types of gyms, and all of them need insurance. However, they don't all need the same types of insurance.
It can be confusing when you already have so many items on your to-do list to try and determine the type[...]
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.
If you thought you only needed medical and car insurance, you are wrong. Every time you have a special event or if you run a business, having an insurance cover is a must-have.
Whether you are preparing for an event to celebrate a milestone in your personal life, profession, or your athletes, it is advisable to have a unique insurance cover. It will[...]
As a gym owner or manager, you have a lot of decisions to make and people and property to take care of on a daily basis. One of the decisions you need to make is about the level and type of business insurance that you need. You don't want to overspend and get the coverage you don't need, but you don't want to come up short when something happens.
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.
Owning a gym is a rewarding opportunity and great for entrepreneurs everywhere. Not only are you offering a location for your members to build and maintain good health, but you are generating a business that you want to be successful financially.
When you are developing a gym business plan, you must outline the following areas of your gym so that when[...]