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owning a GYM

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Tomas123 | 18:25 Wed 07th Sep 2011 | Business & Finance
6 Answers
iv always wanted to own a gym and iv got the opportunity to run a gym put as i haven't owned my own business before so i would like information on what i need to pay i.e bills wise, so far i have
rent(19500)p/a
insurance
stock
utilities
TV licence
wages for 2 employees
water

if its any help the T/O is 114,000 p/a

can anyone else help me out with what i have missed??
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an accountant would be my first choice - to take a look at current books
Tax - if you're going to sell anything, like towels or shower gels etc, make sure you're registered for vat, even if you're not 'earning' enough.
dont forget that you pay NI on top of what employees do so youd pay slightly more than the actual wage they earn
factor in for repairs to equipment as well as cleaning costs etc.
Business Rates unless included in the rent.
if you are going to show any tv other than free-view...i.e. sky, the sky business charges per month are considerably higher than a domestic tariff

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