Any advice for setting up a business(Boxing gym) please?

[mickey1975]

I'm looking at opening a boxing gym at the local shopping centre has anyone done anything similar? If so have you got any advice for me please? Someone has said as It's my first business i will get reduced rates is this true? A local club just down the road has just got a big grant so maybe i will struggle getting any help with it. But i suppose there's lots of avenues i can go down looking for help but I've not got the foggiest so any help at all would be much appreciated as in things i could do there as in classes I'm going to have an A.B.A. and white collar club there but obviously need other classes to bring in the pennies. Who do i see about rate reductions etc?

Don't advertise your having aba and white collar under the same roof!

[Counter-puncher]

Someone has said as It's my first business i will get reduced rates is this true?

Who do i see about rate reductions etc?

nah, that's bollocks. getting a rebate in your rates is determined by the rateable value of the property. in bimringham at least, if the property's rateable value is (i think ) 6K or less you get 100% relief, then a sliding scale for those with rateable value above the 6/7K threshold

the council will have a wing/division that deal specifically with rates, called the 'Rates section' or whatever, so give them a call when you have a property in mind and you know the rateable value.

anyways, not to rain on you parade mate but gyms in general (where i have some experience), and i believe boxing gyms in particular (where I don't), are incredibly difficult to make money from.

kinda like the old saying, how can you make a small fortune from owning a gym? start off with a large one.

my blunt advice, if you are looking to do this do it as a hobby and see it as such.

[expe]

If you run it as a charity there's a massive council tax offset, something like 80%, so that's an option. If it's a charity you might be limited with what you can do inside though. If you go with it as a normal business then stick on shit like zumba and other bollocks like that what women seem to love for some reason and stick some exercise machines in that can be used by the fighters, but also allow people to use it as a gym. And like Mickey said, don't advertise that it's ABA and White Collar, just call it a boxing gym and get it affiliated with the ABA and do the White Collar on the sly.

[expe]

If you run it as a charity there's a massive council tax offset, something like 80%, so that's an option. If it's a charity you might be limited with what you can do inside though. If you go with it as a normal business then stick on shit like zumba and other bollocks like that what women seem to love for some reason and stick some exercise machines in that can be used by the fighters, but also allow people to use it as a gym. And like Mickey said, don't advertise that it's ABA and White Collar, just call it a boxing gym and get it affiliated with the ABA and do the White Collar on the sly.

[Counter-puncher]

if you run it as a charity you'll also have a sh1t-ton of statutory hurdles to jump/i's to dot and t's to cross, you'll have to justify every penny you spend in triplicate and your accountacy fees will be trebled, possibly more....

[spudder56]

I'm looking at opening a boxing gym at the local shopping centre has anyone done anything similar? If so have you got any advice for me please? Someone has said as It's my first business i will get reduced rates is this true? A local club just down the road has just got a big grant so maybe i will struggle getting any help with it. But i suppose there's lots of avenues i can go down looking for help but I've not got the foggiest so any help at all would be much appreciated as in things i could do there as in classes I'm going to have an A.B.A. and white collar club there but obviously need other classes to bring in the pennies. Who do i see about rate reductions etc?

It's very doubtful you will get aba affiliation now you have mentioned white collar as well if you do happen to get it the aba will be watching you like hawks and if they catch you with white collar boxers in there they could immediately withdraw your affiliation the same goes for charity status you should be more careful what you say in public mate

[jamesmcdonnell]

From what I hear, the advice is simple - prepare to lose money. Boxing gyms don't make a dime generally speaking.

[TerribleTerry]

Add kickboxing and MMA to the classes on offer to boost income.

My mate runs a kickboxing gym that offers white collar boxing and MMA on the side and is well off as a result. He works very hard, has a wide range of connections in the sports and has built his gym and reputation over the last ten years but he is coining it in now from a mixture of gym fees (direct debit in the main), regular gradings and fight shows.

It can definitely be done but isn't easy and won't turn a quick buck.

Good luck with it though