Fitness Business or Crypto?

My wife and I are wanting to start up our own business which involves a local gym and athletic clothing line.

We've been health freaks for years and have thought about this for sometime. We've collectively saved up $50K for our possible business.

Though crypocurrencies and blockchain technology is starting to attract lots of attention. That's all I see when I visit this board time to time. The question of "would investing the $50K into crypto be more profitable and sustainable for long term instead of the gym?" continually pops into my head.

What are your thoughts? Thanks.

Crypto is an opportunity of a lifetime. The only comparable situation to the current explosion in wealth would be if we came into contact with an advanced alien civilization and started trading goods and services with them.

Don't quit your day job, get to 1 million.

kys, gtfo you NORMIEE!!!!!!!!!
REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

OP what is going to be unique about your gym and what is your target audience?

get out normie.

this isn't your game.

buy 50k worth of NEO brother you won't regret it it's a really great coin and going to da moooon :)

Start fitness business, invest profits back into business to help grow it and into crypto.

Various things such as services offered (experienced health/workout consultants, on site meals, great equipment, sauna etc). There is also not many gyms in the area so we see an opportunity to dive into the market. Our target audience would be people of ages 21-35 (college students, employees of nearby businesses)

Is there a reason why you put the fitness business over crypto?

It sounds more upscale than your target audience could afford. How would the health/fitness consultant work?

We'll have different packages available to cater to the different groups in the target audience.

As for the health/fitness consultant would operate in various ways. We'll have a few personal trainers but what we want to do is take/intern college or postgrad students that have a good amount of experience/education in certain health sectors to help out our clients.

Idk to me it seems really vague and you're not targeting a specific niche of people into exercise and instead are trying to capture the entire market. Good luck though

START A GAY LITTLE FITNESS COIN AND PRETEND IT'S USEFUL, MORONS WILL BUY IT I PROMISE

Hey,
Veeky Forums regular here. It sounds like you have a decently laid out idea. Obviously you've done research, and seem to know more than enough to get this off the floor.
However, It sounds like you may be trying to spread yourself over too many bases. Most of the non-chain gyms in my area, that try to incorporate things like on-site meals, sauna (debatable), and BKin students as PT's, tend to fail.
I do not believe the return on these investments would be worth it, desu.
You would be better off to invest in a large open space with as many racks, Oly bars, and high quality bumper plates as possible. Specialty equipment such as, Trap bars, Safety bars, and Yokes will also draw people in (depending on the area)
You will also draw in more loyal members if you specialize your gym, as these gyms tend to be less common. My area has seen a huge boom in the last 3-5 years of PLing, and strongman gyms.
Having said all that, I understand the gym business model. So I can understand that the main goal may be to simply sell as many memberships, as possible.
Regardless, good luck in your endeavor!

Honestly, if you were to try either of those things you're probably going to lose money. Crypto is due for a correction in the next months. Only the obsessed will see the signs and jump out just in time. You otoh will panic sell and swear off of crypto forever. Typical noob mistake of buying high and sell low that you can only overcome by hanging around the block for some time.

> Gym tied with blockchain related technology for certain thing (also with it's own token).
My current vision.

The basic concept is done.
A clear and fully written whitepaper / business plan still must be done.
Due to real life stuff I won't have time until next year.

Depending where you live, this will be a goldmine.

Also, 50k isn't much, 200-300k (depending how nice it will be) should be taken in account.

You have my full support for this as long as you are not in western europe.

Yeah.
What is your edge, OP? Maybe there is a reason why there are no gyms around your area. Do you know your demographic personally? Like, has someone told you "man I wish there was a gym around here"? Do you know what cash flow analysis is?

all of your equipment should be fitted to generate electricity so you can mine
if you do this even outdated chips and miners can run because the electricity would be free
plus think of all the gains you'll make not only in the cryptospace but fitness gains too

what if I told you,
that I'm working out POPW (proof of physical work)?

Shit's gonna be funny /cryptofit/.

a light bulb just went off in my head

Gyms fail more often than restaurants. Throw that 50k into ark and enjoy your biz_classic dividends

Wasnt there a scam doing this recently on here, Fit Coin or Fat Coin.

why not both?

get a large open area to set up your gym
put in a bunch of miners to heat it up during winter
then during summer do hot yoga

...

5/5

Fat Coin maybe?
Everyone checking it for 1 minute should know that this was pure shit.

My idea is pretty legit and will have real world benefit since it will make some things pretty easy and nice via blockchain.

Next year hopefully.

I like this idea.

Kinda, but it should be useable with any kind of exercise.
Too bad I need various devs for this whole project.

Pls leave Jeff Seid

Crypto's needs whales not fit guys

So the main question, and the one that will affect your business performance the most is, who in the fuck are you two, and are you in the position to start a business like this? I'll help you out a little bit.

Do people come up and ask you or your wife for advice in regards to athletic training, life coaching, nutrition, or general workout advice?

How often? If it's fairly often, then have you attempted to help these people out in some way? Have you started a personal training business at all? Why not? Your business is bound to have far more success in your community if you are able to convert unfit people into fit acolytes. That way, whenever it comes time to open up your gym, you'll already have a very loyal base of authority figures ready to spread the opening of your gym by word of mouth. This is crucial, and you should make sure that you're selective in choosing only the niche of people who would desire to pay for a membership to your gym.

Secondly, you could use your credibility from your work performance in order to persuade other personal trainers to come join you to work at your gym. Hell, it's easy too. "How would I do that?" Well remember the whole, "be very selective in who you choose to train?" thing? Well you should refer everyone else to "this great guy or girl" that you know. Yeah, give some of those others referrals, and you'll essentially be putting food on those personal trainer's tables. Which most people live by the adage, "never bite the hand which feeds you." Whether they know it or not.

Whenever it comes time to open your gym, then you shouldn't think too far into what you or your wife thinks would make you guys stand out. Instead, you should ask the people you've trained and the connections you have with your trainer friends into guiding you to what is missing in the gyms in your community.

Tl;Dr: a gym is an end goal which will tank if you don't have a rabid base of supporters and friends before you open it.

STOP HELPING NORMIES

You dont need that much money to start your business. Just make flyers for free at the library, and hold some kind of training in the park. Just look at the whole ConBody phenominon. Natural training without weights. Then again, Mbbe weights and retail space are cheaper than I think. But yea dont sink all that cash, only spend a third MAXIMUM

You should go into this though, if I were fit I would consider the same thing.

Cryptocurrency is just risking your money. Build Something.

Not OP but also related for me.

>Do people come up and ask you or your wife for advice in regards ...
Yes they do regulary. So much that I'm getting myself self-employeed and make money with this.

getting the whole place done (entrance, toilets, changing rooms, bar...)
some racks with at least 100kg iron each
platform with good bumper plates
1-2 multitowers
benches
dumbbels
cardio machines (they are expensive! and a must have to get a base of paying stupid sheeps)
water, electricity, AC, maintenance

opening a gym that appleases the mass is expensive.
Having a garage or bigger room for hardcore gymrats only is way cheaper but won't have that big money success.