Opening a climbing gym

I live in St Joseph Mo, and I currently in the process of opening a climbing and yoga gym. I have about 7 years working in the climbing industry, and know the basics of how a wall works. 

What I am trying to figure out is how to obtain financing/ investors/ crowdfunding.  Any information would be appreciated.

Go to a bank? 

Riot The Cat wrote:

Go to a bank? 

Or the mob.  they are always looking for loosing propositions to launder $$$

Start with a business plan, no one will listen to you without one.

Do the UHF thing and do a telethon to sell shares in your gym so the community owns it

Michael B wrote:

Do the UHF thing and do a telethon to sell shares in your gym so the community owns it

Is this a reference to the Weird Al movie? 

Riot The Cat wrote:

Go to a bank? 

Rob a bank. 0% interest that way 

Riot The Cat wrote:

Go to a bank? 

I have already done that. Banks generally don't give out loans for businesses unless the business has already been in business for at least two years. However a little bit ago I found out there are programs and cities like the one I'm in, St Joe that are there to help secure loans for new startup businesses and get them going. 

Climb On wrote:

Start with a business plan, no one will listen to you without one.

I already have that, I'm just trying to figure out the lending side due to the fact that Banks won't straight ahead do business loans for businesses that have not been in business for at least 2 years

Trying to get in this financial climate seems like a rough go in any case.

I would see if you can get a small business mentor from SCORE. There is usually no cost to you, and they can help you understand your options for financing.

https://www.score.org/find-mentor

As a city government employee, check with the economic development department at City Hall. If they’re good, they can clue you into anything they offer, or the county, the state, or anyone else. As a climber who doesn’t regularly go to gyms because they’re so damn expensive, just some thoughts on your gym: 1) Consider cheap day passes and punch passes 2) Not everyone wants a “full service” gym with yoga and weights and everything else that drives up the price 3) Do away with “initiation fees” - it’s always irritating to have to pay $75+ just for someone to do a little data entry. Of course, a good market study or business plan might make any of my gym operation advice moot. But definitely check with your local Econ Dev Department. Good luck!

There's this...

the real question we should be asking is: why do we need yet another gym? 

Ben B wrote:

the real question we should be asking is: why do we need yet another gym? 

Yes, there's no gym in St Joseph Mo, and there's seems to be  a demand for one. 

ed ashby wrote:

I live in St Joseph Mo, and I currently in the process of opening a climbing and yoga gym. I have about 7 years working in the climbing industry, and know the basics of how a wall works. 

What I am trying to figure out is how to obtain financing/ investors/ crowdfunding.  Any information would be appreciated.

Wow, Saint Joseph MO.  I spent two weeks consulting for a small, independent cable company in Kansas, Hiawatha Cable back around 2009 and stayed in Saint Joseph.  Jogged into a not-so-good neighborhood and had firecrackers thrown at me.  Rode out a tornado in Hiawatha KS in a small cinder block cable headend in the middle of a vast corn field.  And watched some sort of major softball tournament in the evenings from my hotel window.  

Saint Joseph NEEDS something like a climbing gym.  Trust me, I know.  Good luck.  I'm rooting for you. 

rock climbing wrote:

We are taking Kansas here. I would build a bouldering gym with half the space weights and yoga and other stuff. Maybe a bouldering/CrossFit gym in an old warehouse.

Bouldering gyms are much easier to build and route set and a lot of people prefer bouldering over rope climbing in a gym. 

 A climber’s gym is a thing of the past, now climbing gyms are fitness/entertainment. Probably why all the pro climbers are in their garage on their own woodie.

I'm trying to find an old industrial building, build a bouldering wall on it and put some general fitness gear in there as well. Bouldering yoga and Fitness is kind of what sells for gyms nowadays. So I'd say your statement is one person accurate. You're also right in the fact that the old guys are kind of training on the Woodies because I have a hangboard at home I use during the week and boulder and trad climb on the weekends. 

The things is, I started coaching climbing a while back, and I enjoyed it, I also enjoy sharing my sport.

ed ashby wrote:

The things is, I started coaching climbing a while back, and I enjoyed it, I also enjoy sharing my sport.

Owning a climbing gym will destroy all the love you ever had for climbing into the ground.. people are awful.

Hank Caylor wrote:

Owning a climbing gym will destroy all the love you ever had for climbing into the ground.. people are awful.

I've worked at climbing gyms for 7 years now. I'm well aware of the pros and cons.

ed ashby wrote:

I live in St Joseph Mo, and I currently in the process of opening a climbing and yoga gym. I have about 7 years working in the climbing industry, and know the basics of how a wall works. 

What I am trying to figure out is how to obtain financing/ investors/ crowdfunding.  Any information would be appreciated.

Almost all climbing gyms were originally financed by rich friends of the founders.  Find the money and follow it.

Got a clever name picked out?  Pinchin Plastic, or Rocks n Jocks, Sit n Be Fit, Big Grunts, or the like?