Where is there a health club near me? This is a phrase often heard when people move into a new neighborhood, or finally get into the work force after years of schooling.
As people settle into their new lifestyle, they start looking for their morning coffee shop, favorite restaurant, local pub, and also their new gym. While a lot of the others mentioned may be numerous, research shows that health clubs are a business opportunity that is needed in specific parts of the United States.
One such location is in Rochester Hills, Michigan. Statistics indicate the quality of such an investment ranks in the 98th percentile compared to other business opportunities in the same area. You can see for yourself in the detailed market analysis provided on LaunchScore.com: https://launchscore.com/opportunities/health-club-in-rochester-hills-michigan
Growing Population Means Growing Opportunity
The reasons for the quality of this business opportunity are clear when you look at the data. The area of Rochester Hills is growing and is popular with college-educated, white-collar employees, who work in the tech industry, automotive design, or healthcare. Its residents earn consistent middle class incomes, with a median income of $80,000.
Most of Rochester Hill’s residents are in their late 20s and up, with a current median age of 43.1. Many have started families and are planting roots in the area that they plan to live long term. This indicates a growing base of potential long-term customers who have a distinct interest in maintaining their health, as well as physically working off the stress of mentally demanding careers.
As a side benefit of this, many stress the need for fitness to their children as well, providing you with potential employees as they reach college age. Not just “people you can hire,” but people you already have a relationship with, whose knowledge, skills, personalities, and work ethics you’ve already seen for yourself.
Health Clubs Make Your Finances Fit As Well
Financially, the outlook for a new health club in Rochester Hills is strong, with a likely Potential Yearly Earnings, or PYE, of $190,375. The net operating profits in the first year is estimated to be $95,188, with a startup cost of only $173,622 (based on the larger of PYE and median income multiplied by the cost of living).
Net revenues and earnings should more than double by year 5, and terminal value should be nearly $600,000 by the end of the 5th year. It’s safe to say opening a health club in Rochester Hills, Michigan, is one of the most promising opportunities currently available.
If you don’t live in the Michigan area, you can do a search of this business type in your city on LaunchScore.com to receive the same detailed opportunity information. Just be sure to act on a good opportunity like this quickly, so when someone asks “where is there a health club near me”, you are there to greet them when they arrive.