Select Your Location
over the ancient era, many lavish fitness centers have been successfully started across India due to the rising health consciousness. Demand for gyms from fitness-conscious consumers has also been key to making gyms and Yoga fitness centers a profitable business opportunity. Opening a fitness center requires careful planning and research.
Due to the running lifestyle and hectic schedule of people mental, and spiritual wellness has become one of the hottest trends in the fitness and wellness industry. Stress and unhealthy lifestyle continue to generate a number of disease and hypertension problem in the people, therefore it is leading to more and more people looking at yoga for wellbeing.
The current Indian urban population is overweight and physically unfit. The lack of proper guidance, motivation, and time are the main reasons behind such anomalous statistics. Most adults refrain from any type of physical activity. In fact, children are also continuously devouring junk food and getting overweight. The size of the schoolbags is proportionately increasing the amount of stress in their lives. Every stressed individual is gaining body weight and does not even care about the harmful consequences in the future.
The fitness center also is known as a fitness club, fitness center and commonly known as Gym. Proper planning and careful research are very much important for an Entrepreneur to decide the business model for the fitness center. The decision taken at this stage will have implications throughout the fitness center’s business life-cycle. Henceforth, making the right decisions with proper due diligence at the very first level will ensure the profitability of the fitness center.
Further, the investment for starting a yoga studio is minimal – making it an ideal business for those interested in yoga.
Once the Entrepreneur has decided to establish a fitness center he must conduct a proper due diligence before. Following are the steps to start a business of Health yoga and fitness center:-
1. Registration of Entity
It is recommended that fitness center is set up as a Private Limited Company under The Companies Act, 2013 or a Limited Liability Partnership under Limited Liability Partnership Act, 2008 as these entities gives a number of protection features to their promoters.
2. GST Registration
Once the business is registered, tax registration must be obtained in the name of the business and the Entity must have GST registration and obtain the GST number.
3. SSI Registration
It is advisable for the fitness center to obtain SSI (Small Scale Industry) registration to avail the benefits of schemes and subsidies promoted by the government.
4. Police Department Clearance
To run the Fitness center an approval or clearance from the police department is required in our Country. An application to the relevant officer of the police department shall be made in a state where the business is to be established.
The investment required for Yoga and fitness center is comparatively less as compared to other business
In a fitness center, there must be a proficient aerobics trainer, who has completed a certification course from a legit and reputed institution. Anyone who has passed the 10+2 or the higher secondary level is eligible for the courses. The degree will be offered as a diploma in the fitness course.
This will be very helpful in growing and newly established a business to also appoint a professionally qualified Dietitian in their health center as people are also demanding for the healthy diet.
Big fitness chains and gyms are already expanding their product and services to tap into the market in each and every way possible and reach out to potential customers. A number of the fitness industry and gym centers are following the mode of Franchise to grow their business worldwide. The fitness clients or customer are mostly in the age group of 20 to 40 years. Consequently, the new entrepreneur can choose this way to enter into the Fitness and Yoga business, as this will be easier and less risky.
By joining the hands of the renowned fitness and yoga centers an entrepreneur can commence his business by putting all the terms and conditions into the Franchisee Agreement.
Also, Read: How to Set up a Yoga Studio.
Experienced Finance and Legal Professional with 12+ Years of Experience in Legal, Finance, Fintech, Blockchain, and Revenue Management.
On 18th May 2023, the Securities Exchange Board of India (SEBI) released a Consultation Paper o...
Infrastructure and real estate have been regarded as India's "sunshine sector" since the turn o...
On 22nd May 2023, the Central Board of Direct Taxes (CBDT) issued a new circular under secti...
Anyone can have different sources of income. With globalization and the opening up of economies...
The Reserve Bank of India (RBI) is crucial in regulating NBFC, including branch openings and cl...
In India, Non-Banking Financial Companies are subject to certain restrictions from taking publi...
It's usually a good idea to diversify the assets in your financial portfolio, especially during...
A nation is being built by the non-banking finance company through the development of wealth, t...
A corporate entity known as a portfolio manager complies with a contract or agreement with the...
Identifying and analysing risks associated with individual portfolio investments, such as equit...
Are you human?: 3 + 4 =
Easy Payment Options Available No Spam. No Sharing. 100% Confidentiality
The intermediary in a stock market is a person or an entity that helps the investor to invest their funds in variou...
06 Dec, 2022
Laws govern all organizations and individuals. When confusions and disputes arise, it is up to the affected party t...
14 Jan, 2020
Red Herring Top 100 Asia enlists outstanding entrepreneurs and promising companies. It selects the award winners from approximately 2000 privately financed companies each year in the Asia. Since 1996, Red Herring has kept tabs on these up-and-comers. Red Herring editors were among the first to recognize that companies such as Google, Facebook, Kakao, Alibaba, Twitter, Rakuten, Salesforce.com, Xiaomi and YouTube would change the way we live and work.
Researchers have found out that organization using new technologies in their accounting and tax have better productivity as compared to those using the traditional methods. Complying with the recent technological trends in the accounting industry, Enterslice was formed to focus on the emerging start up companies and bring innovation in their traditional Chartered Accountants & Legal profession services, disrupt traditional Chartered Accountants practice mechanism & Lawyers.
Stay updated with all the latest legal updates. Just enter your email address and subscribe for free!
Chat on Whatsapp
Hey I'm Suman. Let's Talk!