Gym Startup Cost Worksheet (Free Google Sheets)
A line-item startup cost worksheet covering lease deposit, buildout, equipment, signage, insurance, licensing, marketing launch, and 90-day working capital.
Open the linked Google Sheet and click File then Make a copy. Fill in line-item costs in column C. The sheet totals your startup capital automatically.
What this worksheet is
A 7-category line-item worksheet that totals your startup capital requirement. Every category has benchmarks based on gym size, location tier, and concept type. Fill in your actual numbers in column C. The sheet totals automatically and flags any line that is more than 30% off benchmark. That flag is the most valuable cell in the sheet. It catches the errors that bankrupt gyms in the first 18 months.
A first-time gym owner in Tampa used this worksheet in 2023 and discovered her buildout estimate was $94,000 below benchmark. Her contractor had quoted $86,000 for a 5,200-square-foot buildout. The worksheet flagged the line and showed the benchmark range of $156,000 to $208,000 for a tier-2 city. She got three more bids. The realistic number was $172,000. She raised an additional $96,000 from investors and opened with adequate capital. She hit break-even in month 13 instead of going bankrupt in month 9.
The most common startup-cost mistake in the gym industry is undercapitalizing by 25 to 40%. Gym owners budget for the buildout and the equipment and forget the 90-day working capital reserve. They open with no margin for error. The first slow month (and there is always a slow month) forces them to take a high-interest short-term loan that bleeds them for years. This worksheet forces you to budget the working capital line item.
Who should use it
Anyone opening a gym or studio between 1,500 and 12,000 square feet. This works for independent strength gyms, boutique studios, hybrid training facilities, yoga studios, and Pilates studios. It is not built for franchised concepts (the franchisor provides a startup cost worksheet) or for big-box health clubs over 20,000 square feet (those need a custom pro forma). Read our article on how much it costs to open a gym for the framework behind this worksheet.
Filled-in example: $312K buildout for a 4,800-sq-ft strength gym
This is the actual startup cost worksheet for Iron Borough Strength Co. in Bethlehem, Pennsylvania. The gym opened in March 2022 with $312,000 in startup capital. The owner contributed $180,000 from savings and a home equity line of credit. Two angel investors contributed $132,000 for a combined 18% equity stake.
| Category | Line item | Example cost | Benchmark range |
|---|---|---|---|
| 1. Lease | First and last month rent | $9,600 | $4,800 to $24,000 |
| 1. Lease | Security deposit (2 months) | $9,600 | $4,800 to $24,000 |
| 1. Lease | Leasehold improvements by landlord | $0 | $0 to $50,000 |
| 1. Lease subtotal | $19,200 | ||
| 2. Buildout | Demolition and disposal | $8,400 | $4,000 to $18,000 |
| 2. Buildout | Flooring (rubcle + turf + Mondo) | $24,800 | $18,000 to $52,000 |
| 2. Buildout | Electrical (200 amp upgrade + outlets) | $18,200 | $12,000 to $35,000 |
| 2. Buildout | Plumbing (3 showers, 4 toilets, 6 sinks) | $31,400 | $22,000 to $58,000 |
| 2. Buildout | HVAC (added tonnage for heat load) | $19,800 | $12,000 to $40,000 |
| 2. Buildout | Walls, doors, paint, mirrors | $22,100 | $15,000 to $45,000 |
| 2. Buildout | Lighting (LED high-bay + accent) | $9,400 | $5,000 to $18,000 |
| 2. Buildout subtotal | $134,100 | $180 to $260 per sq ft total | |
| 3. Equipment | Rack (4x Monster Racks) | $14,800 | $9,000 to $22,000 |
| 3. Equipment | Barbells (8x Ohio Power Bar) | $3,800 | $2,400 to $6,400 |
| 3. Equipment | Plates (5,000 lb set) | $6,400 | $4,000 to $10,000 |
| 3. Equipment | Dumbbells (5 to 100 lb pair set) | $5,200 | $3,200 to $9,000 |
| 3. Equipment | Cardio (2x Rogue Echo + 3x Concept 2) | $8,900 | $5,500 to $14,000 |
| 3. Equipment | Functional (kettlebells, sleds, bands) | $4,200 | $2,800 to $7,500 |
| 3. Equipment | Used equipment discount | -$3,400 | 15 to 25% off new |
| 3. Equipment subtotal | $39,900 | $45 to $115 per sq ft | |
| 4. Signage | Exterior (illuminated channel letters) | $6,800 | $4,000 to $14,000 |
| 4. Signage | Interior (lobby + studio) | $3,200 | $1,800 to $6,500 |
| 4. Signage | Wayfinding (restroom, exit, parking) | $1,400 | $800 to $2,800 |
| 4. Signage subtotal | $11,400 | $2 to $4 per sq ft | |
| 5. Insurance + licensing | General liability (12 months prepaid) | $2,800 | $1,800 to $4,800 |
| 5. Insurance + licensing | Property insurance (12 months) | $4,200 | $2,800 to $8,400 |
| 5. Insurance + licensing | Workers comp deposit | $1,800 | $1,200 to $3,600 |
| 5. Insurance + licensing | Business license + permits | $640 | $400 to $1,800 |
| 5. Insurance + licensing subtotal | $9,440 | ||
| 6. Marketing launch | Pre-opening 60-day campaign | $12,000 | $8,000 to $20,000 |
| 6. Marketing launch | Photography + brand assets | $3,400 | $2,000 to $6,500 |
| 6. Marketing launch | Website + booking integration | $4,800 | $2,500 to $9,000 |
| 6. Marketing launch | Grand opening event | $3,800 | $2,000 to $8,000 |
| 6. Marketing launch subtotal | $24,000 | 8 to 12% of total startup | |
| 7. Working capital | 90-day operating reserve | $73,000 | 3 months of fixed costs |
| 7. Working capital | Owner salary months 1 to 6 | $0 | Most owners skip salary |
| 7. Working capital subtotal | $73,000 | 23 to 30% of total startup | |
| TOTAL | $311,640 | $180 to $260 per sq ft all-in |
The blank worksheet
Copy these 7 categories into a fresh Google Sheet. Add or remove line items based on your concept. The 7 categories are the framework. The line items inside each category will vary. Do not skip the working capital category. That is the line that bankrupts gyms.
| Category | Line item | Your estimate | Notes |
|---|---|---|---|
| 1. Lease | First + last month rent | [$] | |
| 1. Lease | Security deposit | [$] | Usually 1 to 3 months |
| 1. Lease | Leasehold improvements by landlord | [$] | Negotiate this |
| 2. Buildout | Demolition | [$] | |
| 2. Buildout | Flooring | [$] | |
| 2. Buildout | Electrical | [$] | Get 3 bids |
| 2. Buildout | Plumbing | [$] | Showers cost more than you think |
| 2. Buildout | HVAC | [$] | Gyms need extra tonnage |
| 2. Buildout | Walls, doors, paint, mirrors | [$] | |
| 2. Buildout | Lighting | [$] | |
| 3. Equipment | Strength | [$] | |
| 3. Equipment | Cardio | [$] | |
| 3. Equipment | Functional | [$] | |
| 4. Signage | Exterior | [$] | Check landlord sign criteria |
| 4. Signage | Interior | [$] | |
| 5. Insurance + licensing | General liability | [$] | 12 months prepaid |
| 5. Insurance + licensing | Property | [$] | |
| 5. Insurance + licensing | Workers comp | [$] | |
| 5. Insurance + licensing | Licenses + permits | [$] | |
| 6. Marketing launch | Pre-opening campaign | [$] | 60 days before doors open |
| 6. Marketing launch | Photography + brand | [$] | |
| 6. Marketing launch | Website + booking | [$] | |
| 6. Marketing launch | Grand opening event | [$] | |
| 7. Working capital | 90-day operating reserve | [$] | Do not skip this line |
| 7. Working capital | Owner salary months 1 to 6 | [$] | Most owners skip salary |
| TOTAL | [$] | Should be $180 to $260 per sq ft |
Cost per square foot benchmarks
| Concept type | Square footage | Cost per sq ft (all-in) | Typical total |
|---|---|---|---|
| Boutique studio (Pilates, yoga, barre) | 1,500 to 3,500 | $140 to $220 | $210,000 to $770,000 |
| HIIT / bootcamp studio | 2,500 to 5,000 | $130 to $200 | $325,000 to $1,000,000 |
| Strength and conditioning gym | 4,000 to 8,000 | $110 to $180 | $440,000 to $1,440,000 |
| Hybrid gym (classes + open floor) | 6,000 to 12,000 | $120 to $190 | $720,000 to $2,280,000 |
| Wellness / multi-modal studio | 3,000 to 6,000 | $180 to $260 | $540,000 to $1,560,000 |
Common mistakes to avoid
- Skipping the 90-day working capital reserve. This is the single biggest killer of new gyms. Most owners budget for everything except the cash they need to survive months 1 to 3 when revenue is still ramping. Budget 90 days of fixed costs as a separate line item.
- Underestimating plumbing costs. Showers are the most expensive part of a gym buildout. A 3-shower locker room runs $22,000 to $58,000 depending on city and existing plumbing. Get a plumbing bid before you sign the lease.
- Forgetting the workers comp deposit. Workers comp insurance requires a deposit equal to roughly 25% of your first-year premium. Most owners forget this and scramble at opening.
- Buying all new equipment. Used equipment from closed gyms is 25 to 40% cheaper than new and works just as well. Buy plates, dumbbells, and cardio used. Buy barbells and racks new (these wear out faster and matter more for safety).
- Not budgeting for the pre-opening marketing window. The 60 days before you open are when you build your founding member cohort. Skipping this means opening to an empty gym. Budget $8,000 to $20,000 for pre-opening marketing.
How this connects to your FITT Finder listing
Your FITT Finder listing should go live the day you sign the lease, not the day you open. A pre-opening listing collects email signups from seekers in your zip code. By opening day, you should have 80 to 200 founding member leads. Those leads convert at 22 to 35% with a founding-member discount.
For the broader framework behind this worksheet, read our guide on how much it costs to open a gym. The worksheet handles the line items. The guide handles the strategy.
Frequently asked questions
How much working capital should I budget?+
90 days of fixed costs (rent, payroll, insurance, software). For a 4,800-square-foot gym this is typically $60,000 to $90,000. Do not skip this line item.
Can I use SBA loan proceeds for working capital?+
Yes. SBA 7(a) loans allow working capital as a use of proceeds. Most lenders require you to put 10 to 20% down in cash and finance the rest. Plan for a 9 to 14 week approval timeline.
What is the most underestimated line item?+
Plumbing. Showers and locker rooms cost 30 to 60% more than owners expect. Get a plumbing bid before signing the lease, not after.
Should I buy equipment new or used?+
Buy plates, dumbbells, and cardio used. Buy barbells and racks new. Used equipment from closed gyms is 25 to 40% cheaper and works as well. New barbells and racks are safer and last longer.
How do I know if my buildout bid is realistic?+
Divide the total buildout cost by your square footage. If the result is under $30 per square foot for a tier-1 or tier-2 city, the bid is likely missing scope. Get 3 bids minimum and compare line by line.
