When it comes to establishing your fitness business, choosing the right property isn't just about finding four walls and a roof – it's about creating a space where dreams can flourish. As someone who's navigated both property management and establishing Freyja Fit, I understand the complexities of making these crucial decisions. 

Let's walk through everything you need to know about securing the perfect space for your fitness venture. 

The Great Debate: Renting vs. Buying

Making the decision between renting and buying your fitness space is like choosing between a long-term training program and a flexible workout schedule – each has its place depending on your goals. 

When you're starting out, renting often makes perfect sense. It's like trying out different workout styles before committing to your signature method. You'll need less capital upfront, and you'll have the flexibility to adapt as your business evolves. For instance, when we secure our first Freyja Fit Gym, we are likely to rent - we can test the market and it keeps the upfront costs down for a new business.  Rental property is also a quicker process and is usually more readily available. 

However, buying your property is like investing in your own high-quality equipment – it's a long-term investment in your business's future. You're building equity with every payment, and you have the freedom to customise your space exactly as you envision. Plus, you're protected from the dreaded annual rent increases that can eat into your profits.  If you have the funds, have a solid business plan and have a great location in mind, this might be the better option for you.  Remember you can also purchase commercial property through a Pension Fund - the business then pays the pension fund market rent.  This is one for another day.

Navigating Commercial Leases

Commercial leases are more complex than your standard gym membership agreement. Think of them as your business's contract with the property world. Here's what you need to know:

Lease terms – they need to align with your long-term goals. A typical commercial lease might run from 3-10 years, but you'll want to negotiate break clauses that give you flexibility if circumstances change. Pay special attention to the 'permitted use' clauses – these determine whether you can actually operate your intended fitness business in the space.  You may want to negotiate a rent free period at the start of the agreement - this will give you time to fully kit your gym out and build up your memberships without the pressure of monthly payments. 

The financial commitments go beyond just the monthly rent. You'll need to understand service charges (think of them as your property's maintenance fees), business rates (your contribution to local services), and any additional costs like utilities or building insurance.

Property Surveys: Your Pre-Purchase Inspection

Just as you'd check a client's form before increasing their weights, you need to thoroughly inspect any property before committing. A comprehensive survey isn't just a box-ticking exercise – it's your protection against future problems.

For fitness spaces specifically, you need to consider:

• Floor loading capacity for heavy equipment (crucial for free weight areas)

• Sound insulation capabilities (especially important in residential areas)

• Ventilation systems (essential for maintaining a comfortable workout environment)

• Electrical capacity (can it handle multiple treadmills running simultaneously?)

  
  

Working with Property Professionals

Finding the right property professionals is like building your dream team of personal trainers – each brings specific expertise to help you succeed.

Solicitors are your legal spotters. Look for ones with experience in commercial property and, ideally, some understanding of the fitness industry. They'll review contracts, handle negotiations, and protect your interests throughout the process. 

Mortgage brokers are like your financial coaches. A good broker will understand commercial mortgages specifically and can help you navigate the various lending options available. They should be able to explain different mortgage products, help you understand what you can afford, and guide you through the application process.  

Planning Permission: The Rules of the Game

Planning permission is like learning proper form – get it right from the start, and you'll avoid problems later. Whether you're converting a retail space into a gym or building a home fitness studio, you need to understand what's allowed.

For commercial gyms, you'll typically need:

• Change of use permission (unless the property is already designated for gym use)

• Building regulations approval for any structural changes

• Specific considerations for noise management and operating hours

  
  

Even for home gyms, don't assume you can just start building. Check whether you need:

• Planning permission for external changes

• Permission for change of use if you're planning to run classes

• Approval from your local council for any structural modifications

  
  

Don’t let this all worry you - there are lots of specialists that can help you navigate this.

Location Analysis: Finding Your Sweet Spot

Choosing your location is like selecting your target market – it needs careful consideration and research. 

Consider:

1. Demographics: Who lives or works nearby? Are they likely to be interested in your fitness offering? For instance, at Freyja Fit, we are specifically looking for areas with a strong female demographic who would appreciate our stylish, high-quality equipment.

2. Competition: Map out nearby gyms and fitness facilities. But remember, competition isn't always negative – sometimes a fitness hub can attract more customers to the area.

3. Accessibility: Consider transport links, parking availability, and how easy it is for clients to find you. Remember, if it's too difficult to get to your facility, potential clients might choose an easier option.

4. Future Development: Research local council plans for the area. Is there residential development planned that could bring more potential clients? Or are there changes that might impact your business negatively?

   
   

Pro Tips from Experience:

1. Always budget for more than you think you need – property projects invariably have unexpected costs.

2. Build relationships with local commercial agents – they often know about properties before they hit the market.

3. Take your time with decisions – property commitments are typically long-term and rushing can be costly.

4. Consider future expansion needs – what might seem spacious now could feel cramped in a year.

5. Document everything – keep records of all property-related communications and decisions.  Remember VAT can be reclaimed on Pre-Trading Expenses so keeping records can help recover lots of money in the future should you become VAT registered.  Another topic for another day.

   
   

The Investment in Your Future

Remember, your property decision is more than just a business transaction – it's an investment in your vision for the future of fitness. Whether you're creating a boutique studio or a comprehensive training facility, the right property decisions will provide the foundation for your success.

Need More Support?

Add a comment below with your property questions, or check out our other business insights on the Beyond The Barbell Series. 

Don't forget to follow @freyjafituk for regular updates and tips on building your fitness empire.