Startup costs breakdown at a glance
Are you ready to turn your fitness dreams into reality? With the booming boutique fitness industry, now could be the perfect time to venture into opening your own strength training gym. However, before you take the plunge, it's essential to understand what your journey will entail, particularly when it comes to costs. Starting a strength training gym in Singapore is no small feat, with estimated startup costs around$22,819.From gym equipment and studio space to other operational expenses, this article will break down the equipment cost, studio cost, and other factors that influence your studio revenue. Let's dive into the numbers and help you plan your fitness venture wisely!Curious about how much it costs to start aReformer Pilates Studioor aMartial Arts Gyminstead? Click on them to find out more!Studio Rental*$4,500 (monthly)Facility and Amenities*$1,180Gym Equipment*$13,536Employee Salaries*$2,914 (monthly)Miscellaneous Expenses*$689Total Cost of Starting a Strength Training Gym in Singapore$22,819
*Average cost, (exact cost may vary)
Studio rental: finding the right location
Studio Rental
Selecting the right location for your strength training gym in Singapore is crucial to its long-term success. In ourprevious article,we highlighted several venue booking platforms likeGetSpaces, that can help you find the ideal spot for your strength training gym.
Most boutique fitness studios in Singapore are situated in the Central Business District (CBD) areas like Tanjong Pagar, Orchard, and Marina Bay. The CBD offers high foot traffic, a dense commercial environment, and excellent public transport access, making it a prime location for opening a fitness studio.
However, this also means rental costs are significantly higher. For instance, renting a450 sq ft spacenear Tanjong Pagar MRT could cost around$4,000 per month.Studio rental is one of the largest operational expenses, and in a land-scarce country like Singapore, it plays a major role in determining your overall studio cost and eventual studio revenue.
Facilities and AmenitiesOnce you've secured an ideal location for your strength training gym, it's time to consider the costs of outfitting and maintaining the facility, along with providing essential amenities for your members. These expenses are a key part of your overall studio cost.
Below is a sample breakdown of facility and amenities expenses, which will help you plan your gym setup effectively and ensure a comfortable experience for your members.ItemUnit CostNo. of UnitsTotal CostFurnishings & FittingsReception Desk*$3491$349Bench*$363$108Storage Cube Shelves (for members)*$1292$258Storage Cupboards (for gym)*$992$198Wall Mirrors*$305$150Toilet and Cleaning Supplies (Assuming no shower facilities)Mop*$211$21Broom & Dust Pan*$51$5Toilet Bowl Scrub*$51$1Toilet Paper (30 rolls)*$171$17Waste Basket*$31$3Hand Soap*$71$7Cleaning Cloths*$71$7Hand Sanitizers*$94$36Disinfectant Spray*$54$20Total Facilities and Amenities Costs$1,180*Average cost based onIKEA
Facilities, amenities, and gym equipment
Gym EquipmentA strength training gym is incomplete without the right gym equipment. Investing in high-quality training equipment is crucial to ensure your members can maximise their workout experience, and this will account for a substantial portion of your startup costs.
Fortunately, there are several reputable local gym equipment suppliers in Singapore, such asGymsportz,HF Lifestyle,Sole Fitness, andDecathlon, offering a wide range of options to suit your gym's needs.
Here is a list of essential fitness equipment found in strength training gyms:
Equipment
Unit Cost
No. of Units
Total Costs
Free Weights Equipment
Dumbbell Sets with Rack (2-20kg)
$2,224
1
$2,224
Rubber Olympic Barbell Kit (up to 57.5kg)
$295
3
$885
Kettlebells (4kg, 6kg, 8kg, 10kg, 12kg)
Varies
5 (1 per weight)
$212
Medicine Balls (4kg, 5kg, 6kg, 8kg, 10kg)
Varies
5 (1 per weight)
$280
Strength Training Equipment
Functional Trainer
$3,499
1
$3,499
Multi Gym Station
$3,499
1
$3,499
Squat Rack
$699
2
$1,398
Gym Benches
Flat Bench
$129
2
$258
Adjustable Bench
$139
3
$417
Accessories
Yoga Mats
$10
5
$50
Suspension Trainer
$89
3
$267
Weighted Vest
$149
3
$447
Resistance Bands
$20
5
$100
Total Costs
$13,536
Employee salaries and miscellaneous expenses
Employee SalariesWhen launching your strength training gym, hiring staff is an essential step. Assuming you bring on a fitness instructor to assist with daily operations, you'll need to budget for their salary.
According toIndeed, the average base salary for a fitness instructor in Singapore is approximately$3,186 per month.Beyond the base pay, consider additional costs such as meal and transportation allowances, performance bonuses, and other variable compensation. Staffing costs will form a critical part of your operational expenses and will impact your overall studio revenue.
Miscellaneous ExpensesThere are numerous additional costs to account for when opening your strength training gym. First, you will need to register your business and secure the necessary permits and insurance coverage to operate legally.
Furthermore, managing client bookings and data effectively is key to smooth operations, so implementing a reliable booking system is essential. Popular US-based platforms likeMindbody,Glofox, andZingfitoften come with hefty price tag, costing upwards of$200 USD per month. This can be particularly burdensome when you're just starting out.
A much more cost-effective and tailored solution isvibefam, a local platform designed specifically for Singapore fitness studios. vibefam not only supports local payment methods like PayNow and GrabPay, but also offers subscription plans starting from just$89 SGD per month, providing a right-sized and efficient way to manage your studio's bookings and payments.Curious about the differences between the popular fitness management softwares available in the market? Check out our bloghere!Marketing your gym through social media and online campaigns is another essential expense to attract members, along with utilities such as electricity and water for the facility. Below is a sample breakdown of common miscellaneous expenses you’ll encounter while running your strength training gym:Miscellaneous ExpenseCostsOne-time ExpenseRegistration Fees$115Recurring Monthly ExpensesBooking Solution$100Insurance (e.g. UOB Bizcare)$24(Annual - $285)Utilities$400Marketing$50Total Miscellaneous Expenses$689
ConclusionStarting your own strength training gym in Singapore can come with significant costs, but careful financial planning and foresight will set you on the path to success. It’s essential to account for all potential expenses, from gym equipment to operational costs, and ensure you have a solid business strategy in place. With a well-executed plan, you can build and sustain a profitable strength training gym, turning your passion into a thriving business.
To help you get started, here's afree business plan templatedesigned to guide you in launching your boutique fitness studio.This article was written byJoshua Kek.
Planning your gym budget wisely
On the software side, a comprehensive platform like Vibefam replaces the typical stack of three or four vendors (scheduling, payments, marketing automation, customer support) with one connected workflow, with built-in AI retention tools that growth-stage gyms use to keep monthly churn under control.