Gym equipment rentals
Gym equipment rentals business plan
Arena Systems Inc.
Opportunity overview�Opportunity cost�Minimal viable product�Minimal viable marketing plan
Tracking & KPIs
Bonus resources
01
02�03�04�05�06
Opportunity overview
01
Opportunity overview�Setting the stage
What we do
Provide a flexible and cost-effective solution for individuals and businesses looking to access fitness equipment without the long-term commitment of purchasing.
How we do it
By offering a variety of equipment options, delivering & installing them. A white glove solution for individuals looking to enhance their health & wellness.
Why we’re doing it
Because a major segment of the population is interested in exercising in a convenient & private location without needing to commit long term.
Gym equipment rental business plan
What
Why
How
Buying, transporting, and assembling cumbersome fitness equipment is a reality that high net worth individuals don't want to be inconvenienced with. Additionally, high-ticket prospects are the kind that care about their health & wellness.
Since the COVID-19 pandemic, there has been widespread sanitation/health considerations that further justify the need for private fitness centers.
Instead of being inconvenienced by long drives, crowded parking lots, and busy gyms filled with dirty equipment, some are more interested in a bespoke, personal experience in the convenience of their own private homes.
Opportunity overview
Running a gym equipment rental business
Cross-sell opportunities
Gym equipment rentals
Some of the potential services available for cross-selling.
02 Opportunity cost
Opportunity cost: The value of one alternative relative to the value of the next best alternative.
This cost is not always financial. It makes consideration of market competition, penetrability, startup costs, time to validate the idea, and more.
At Arena, we don’t explore high opportunity cost ventures; gym equipment rentals aren’t one of them.
Opportunity cost
Opportunity cost�Arena opportunity Venn
Trash Valet
High-ticket
prospects
Negligible operating costs
Unconventional
Gym equipment rental business plan
The gym equipment rental business is unconventional and operates in an industry containing ample high-net worth prospects. Once a client is acquired, labor & operating costs are negligent, since equipment requires little-to-no maintenance, since gym staffing isn’t required.
Pairing gym rentals with minimum rental commitments make this a penetrable opportunity ripe for disruption, despite it’s relatively high startup costs to validate.
Opportunity cost, notable consideration��Despite the opportunity’s relatively high startup costs, fitness equipment costs are considerably stable, meaning that they don’t meaningfully appreciate or depreciate.��If the opportunity no longer interest you, it’s easy to recoup costs by selling equipment at the cost it took to acquire it.
03 Minimal viable product plan
Minimal viable product plan
Plan
Do
Act
Check
Gym equipment rental business plan
Resource: Learn more about the DPCA framework.
Disclaimer: None of these blueprints are complete. Rather, they are intended to reduce friction as you start your business. Meaningful refinement can only happen through continuous effort & ideation.
Plan, Do, Check, Act: Also known as the PDCA cycle, this project management framework helps businesses drive continuous improvement across their products & services.
We strongly recommend that you pair our product plan with the PDCA framework in your workstreams to help identify efficiencies in the opportunity as they arise.
Core lifts: Barbell + weight plates
Cardio: Treadmill
Minimal viable product plan: Equipment
Strength: Power rack
Transportation method: Utility trailer
General training: Bench
Minimal viable product plan: Equipment
General: Fitness accessories
Good artist copy,�great artists steal.��Don’t reinvent the wheel.��Copy your competition’s homework (see bonus section) by acquiring the exact equipment they rent to their clients.��There’s no need to have their entire inventory on day 1. Start with the essentials, and use rental income to expand your offerings.
Sourcing equipment
Keep it simple. Use Facebook marketplace & groups to source fitness equipment that you’ve identified needing.
The cheaper you can acquire the equipment, the better return you can yield during it’s rental history.
That said, don’t focus on purchasing cheap. Instead, focus on value.
Startup costs: $2,600
It’s in our estimation that the startup costs are in the ~$2,600 range.
This cost cover the power rack, adjustable bench, weight plates, standard barbell and commercial treadmill you’ll need to complete a home gym. It also makes consideration of marketing costs slated to be discussed shortly. It does not consider transportation equipment.
Instructions are self-explanatory for gym equipment rentals.��01. Source fitness equipment at bargain prices.�02. Find potential renters.�03. Rent at the highest reasonable price.
Target a 60-70% dollar utilization rate for your rental equipment. Meaning that after a year, your rental equipment should earn you 60-70% of it's total acquisition cost.
04 Minimal viable marketing plan
Minimal viable marketing plan
In the spirit of retaining modularity, we’ll host most in-depth marketing plans outside of this deck. This plan only contains the essentials to get started.
More marketing resources available @ arena.xyz
Phases�Going from 0 to 1
Minimal viable marketing plan
Follow this blueprint to build the marketing & sales plan you’ll need to acquire your first customer.
01 Create front door
Look like someone worth doing business with. Take a day to build a website (with basic pages) and a logo, fast. Done beats perfect.
02 Craft your offer
Use our available marketing & sales resources to craft an offer that your leads can’t refuse.
03 Source your leads
Use our marketing resources to create a list of places you can use to source high-propensity leads
04 Close your leads
Use your offer to close prospects that your lead generation provides. Repeat the process. While looking for ways to drive efficiencies in the business.
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01 Create front door��This step is self explanatory. Register your domain, create your website, email etc.
02 Craft your offer��Copy your competition’s homework by calling or emailing as a cost-conscious prospect interested in becoming a customer.���Take any meaningful learnings, and use them to your benefit within your sales process.
03 Source leads
Use Facebook Marketplace & Groups to promote your services. Join local buy/sell/trade communities and post/engage relevant content.
For post inspiration, look at the content that competitors are posting.
04 Closing leads��As previously stated; Good artists copy, great artists steal. F*ck political correctness, don’t reinvent the wheel. ��Copy your competition’s homework (see bonus section) by calling as a prospect and repurposing their sales pitch.
Use their sales pitches as your own personal money printer until you have resources to experiment.
No process is perfect on day 1. Remember to refine your workflows each week.��Improve your offer�Improve your prospect sourcing�Improve your close rates
For a step-by-step marketing plan, follow this four week calendar. →
Marketing plan
First four weeks
Use this four week marketing plan to kickstart your business & get your first ticket customer. Apply the PDCA framework along the way to drive efficiencies along the way.
Week 1
Note: Recommended website builders, themes, business names & domains available in bonus resources.
Week 4
Week 2
Minimal viable business plan
Week 3
NOTE: Additional resources @ arena.xyz
Disclaimer
Plan
Do
Act
Check
Gym equipment rental business plan
Resource: Learn more about the DPCA framework.
Remember: As previously stated. None of these blueprints are a one-size-fits-all solution, and neither are they complete. Meaningful refinement can only happen through continuous effort & ideation.
As you develop your business, remember to apply the PDCA framework:
TDLR: Continuously look for leaks in the business, and fix them.
05 Tracking & KPIs
You’ll struggle to identify opportunities & track growth if you don’t measure what matters.
Use Arena’s free dashboard to:
Tracking & KPIs
Setting KPIs
The following set of instructions require our dashboard, available @ arena.xyz
You can complete this process using other business dashboards following similar steps.
Identify KPIs
Identify the KPIs that are most suitable for the opportunity (provided on the following slide).
Set Targets
Set recurring growth targets that you would like to achieve based on your personal level of commitment.
Set Actuals
As you progress, make sure you update your “actuals” table to reflect your performance.
Gym equipment KPIs
Revenue per rental
Average rental duration
Customer acquisition cost
Maintenance costs
Dollar utilization
For more KPIs: https://arena.xyz/the-dashboard
Monetary?
Y
Y
Y
Y
N
Description
Income generated from each transaction, helping you identify the most profitable equipment.
How long your rental equipment is rented for, on average.
How long equipment is typically rented for.
How much it costs you to maintain the equipment.
The annual rental revenue relative to the total acquisition cost of the equipment you’re renting.
KPIs
Measure your performance
Use the Dashboard, Tracker, and Summary tabs to track your performance over time.
06 Bonus resources
Bonus resources
Recommended digital tools
Tools & resources
Domain names
Website builder
Website themes
Stock photos
Email newsletter software
Meetings
Business phone number
Email accounts
We’ve extensively researched the best digital marketing resources & tools. These are our recommended resources.
For the ultimate toolkit: https://arena.xyz/the-toolkit
Bonus resources
Business names & available domain names
Available business & domain names
At Home Gear
At Home Strength
Lend Gym
Gym Renter
The Barbell Rental
Get Fit Rentals
Rent a Home Gym
Rented Racks
Rentable Rigs
athomegear.com ✅
athomestrength.com ✅
lendgym.com ✅
gymrenter.com ✅
thebarbellrental.com ✅
getfitrentals.com ✅
Rentahomegym.com ✅
rentedracks.com ✅
rentablerigs.com ✅
Note: These domain names are available at a first come, first serve basis.
New York, NY
Austin, TX
Pawtucket, RI
Denver, CO
Exemplary gym equipment rental companies
Competitive research
Questions?
Contact
hello@arena.xyz
arena.xyz