The fitness industry continues to be a growing sector and it’s changed dramatically. From 24-hour gyms to low budget gyms, there are facilities to cater to everyone. The investment and revenue increase in the sector has also meant market growth and increasing interest in the industry.
If you’re interested in purchasing a gym for this very reason, there will be some legal considerations that you’d need to make beforehand. Although many gyms and fitness centres are quite lightly regulated, you’ll need to understand several factors including employment law and consumer protection rights.
Many gym operators choose to lease or rent their property rather than own their property. This is because many gym facilities require large space which can often be costly and expensive to maintain. They also have to consider costs of equipment such as much of it will include heavy lifting and resistance training equipment.
Many operators choose this option as they prefer to reduce capital investment in their expenditure. Considering gym equipment can become dated relatively quickly, this is a good way for operators to change their equipment when new ones arrive. Leasing contracts should outline the exact conditions that apply to the equipment and what the costs are for it.
There’s likely to be plenty of interested parties when it comes to choosing your gym to train at. You’ll want to maintain a high standard and prevent users from violating the facilities you provide. In order to protect consumers, consumer protection organisations set out guidelines for gym providers to follow that protect their consumers but also prevent misleading information being produced to prevent high pressured sales pitches.
To ensure this doesn’t happen, dispute resolution solicitors can help outline the contract agreements in place to save you the hard work. They can then be carefully reviewed and go through the correct process to save any legal issues appearing in the future.
There is a significant cost that goes with maintaining staff wages. This is why it’s common for low budget gyms to display fewer staff in non-peak periods during the day. If you plan to have full-time staff or contractors on board, it’s important that you’re able to know the difference between the two. This will prevent tax and equipment issues in the future.
Moreover, personal trainers need certification that they qualify for professional indemnity insurance. You should make yourself aware of the insurance obligations that are in place when personal trainers work at your business.
There is high level competition when it comes to the gym sector. If you’re looking to purchase a gym be aware of the legal considerations above and ensure you’re prepared to arrange these responsibilities accordingly.