Feasibility study processes are key to determining the viability and success of any new fitness center. This in-depth analysis helps institutions assess key factors such as market demand, ideal location, financial sustainability, and community needs. Our feasibility study expertise ensures that you have a clear roadmap for developing a center that aligns with both your organization’s goals and the wellness needs of the local community.
Our feasibility study is a comprehensive, two-phase process designed to provide actionable insights. Here’s how it works:
Feasibility Study: Phase One
- Vision and Objectives
We begin by interviewing key stakeholders and holding focus groups to understand their perspectives about the project. This helps us understand community expectations and draw out any potential concerns. We compile the feedback and present it as a SWOT (Strengths, Weaknesses, Opportunities and Threats) Analysis, making it easy to understand and digest.
- Market-Driven Demand Projections
Next, we conduct in-depth market research to understand the community’s preferences regarding fitness and wellness programs and services. We also evaluate other fitness providers in the area to ensure there’s a unique niche for your facility. Based on these findings, we create demand projections to forecast participation rates and align the proposed center’s offerings with community requirements.
- Price Acceptance and Preliminary Sizing
We use data-driven price acceptance models to determine appropriate membership pricing. This process is key to ensuring your facility’s revenue aligns with local expectations, demand, and your budget. Simultaneously, we use insights from focus groups and surveys to determine the optimal square footage needed for your facility based on program needs and community preferences.
Business Plan: Phase Two
If the feasibility study results are positive, we begin Phase Two. The business plan guides the design process and includes operating projections for your new center.
- Program Volume Projections and Space Plan
We create a detailed space plan based on preliminary square footage estimates from Phase One. This space plan ensures that each program area is sized appropriately and optimally placed to enhance user experience.
- Preliminary Design and Financial Projections
With the space plan in hand, we collaborate with architectural consultants to refine the facility’s design. We also provide detailed financial projections, covering projected operating revenue, expenses, and staffing, to ensure your project remains within budget and is financially sustainable.
- Integration Strategies and Final Plan
Finally, we propose strategies to integrate the fitness center into the community, ensuring it meets diverse needs. Our recommendations for programming, staffing, and hours of operation are designed to maximize participation and revenue. The final report incorporates all findings and is delivered for client review.
How a Feasibility Study Benefits Your New Fitness Center
A feasibility study is not just about identifying the right location or determining the right square footage—it’s about ensuring that your new fitness center is financially viable, sustainable, and aligned with your community’s needs. Our process provides clarity, data-driven insights, and a roadmap for success, so you can confidently move forward with your project. Our proven approach, based on numerous successful consulting projects across the nation, ensures that your center will thrive long-term.
Ready to take the first step toward designing a successful, community-focused fitness center? Contact us today to start the feasibility study process. Our expert fitness center consultants are here to provide the insights and guidance you need to make informed decisions and ensure your project’s success.