Economics 101: is joining a gym worth the investment?

Is a gym membership worth the investment? / Image credit: Victor Freitas
Is a gym membership worth the investment? / Image credit: Victor Freitas

Economics 101: is joining a gym worth the investment?

Thinking of joining a gym?

Last week, we talked about how to make New Year’s resolutions that last longer than February 1st. If you’ve taken my advice, you’ve focused on a single resolution with small, realistic changes. We’ve also discussed setting SMART goals and how having a measurable goal makes it easier to keep track of your progress.

If your resolution is to train for that 5K, lose 20 pounds, or take a new fitness class, you might be thinking of joining one of the big box gyms that are found on almost every main intersection. They are convenient and provide you with both cardio and weight machines. They also offer a range of classes from boxing to dance. For some people, the gym is a one-stop-shop for everything fitness. For most, they are a terrible investment.

While membership fees vary, the industry-wide average falls in at $58 per month, or $696 per year. On top of the monthly fee, some gyms often tack on an “annual fee” (paid at the start of each new membership cycle), and an “initiation fee” (a one-time fee that can run as high as $250, due upon signing).

If you were to use the gym seven times a week, every week, you would be getting a great deal. However, a study run by UC Berkeley economists found that while members anticipate visiting a gym 9.5 times per month, they only end up going 4.17 times per month. That works out to 50 visits per year.

If you are serious about achieving your goals but don’t want to pay for something that you don’t use, think about the role the gym will play in your workout schedule. What does it offer that you currently need? Will you be joining just for a place to run while the weather is cold, or do you want the guided instruction of classes?

If it’s to take a specialized class, are there other studios dedicated to this activities that can fill the gap (e.g., spin, crossfit box, or yoga studio)? These places don’t have monthly maintenance fees and work on different payment schedules. You can find group fitness classes to fit your budget and figure out which studio or activity best fits your goals.

If you are looking for a place to run and lift weights on your own, there are several contract-free gyms in Toronto. With low monthly fees and no perks, you might miss your scented towels, but you will have a basic gym with well-maintained equipment.

Finally, consider building your own home gym. If you have the space, you can turn that spare room — or even spare corner — into your perfect gym. Investing in durable pieces of gym equipment may feel like an initial expense, but once you add up the payments, it’s a great investment. And if you don’t want to commit to purchasing a cardio machine, free weights from Winners or Canadian Tire are a good starting point. There are many apps (free and paid) that can take you through heart-pounding workouts and require minimal equipment. Buy a wall-mount bracket for your tablet so you don’t have to keep checking your phone during a workout. You can also use this during your cardio sessions to replace those gym televisions which always have poor reception or shows you can’t change.

Joining a gym gives you a place to work out, but is it your best fitness investment? The truth is that it may be. You might like the convenience, classes, and services. However, for many people, being stuck in a contract will result in overall frustration. Figure out what role the gym will play before you give them access to your bank account.

Welcome to TrainingSpaces’ first regular update!

NL C872 Commercial Smith Machine - detail

Welcome to TrainingSpaces' first regular update!

Studio owner Laura Rantin

This update marks the launch of a place to find out a little more about what’s going on in our studio, learn about the trainers who work here, talk about the newest trends in fitness, nutrition, and health — and pick up a tip or two to help you reach your goals. If there’s anything you’re curious about, or a question you would like to ask, just let us know. Scroll to the bottom of the page and subscribe so we can keep in touch!

Watching plans take form

When I took over the studio earlier this month, I wanted to bring a world of possibilities to the trainers who work here and the clients who work out here. It was important for me to select the right mix of equipment for all levels of fitness. There were some decisions that were easy (replacing the concrete floor with a rubberized surface was a no-brainer). Others were more difficult. What one piece of cardio equipment would be best? How many weight sets and how heavy should they be? How many different uses could we get from one machine?

Personally, I’m delighted with the range of equipment we’ve installed in the studio. There’s something to be said about opening a studio with all new equipment. Nothing feels cobbled together or broken down. Sure, you get the “new car smell,” but you are demonstrating a commitment to everyone who enters the space. It’s my job to make you feel comfortable and keep your focus on your workout — the machines and equipment are just tools for your success.

Check out the Training and Video pages.

NL C872 Commercial Smith Machine - detail

Laura’s challenge of the week

Use a new piece of equipment. Find something you usually avoid and incorporate it into a training session. If you have questions or would like suggestions, just let me know!

Putting the studio on display

Internal view of TrainingSpaces studio, showing the abundant natural light.
Internal view of TrainingSpaces studio, showing the abundant natural light.

Putting the studio on display

The studio’s been open for a couple of weeks now, with lots of good feedback from both trainers and clients. We’ve been waiting for the right time to let everyone else see it, both here and on the gallery page we’ve been building and waiting to publish.

That time is now. After a couple of weeks of painting, drilling, hanging things on walls, and filling in holes, we’re finally at the point where we can  showcase the studio’s visual appeal. We spent some time there this afternoon doing a shoot (thank you, lord, for fisheye lenses) that we think highlights both the modern, state-of-the-art equipment and the open, airy feeling that the space enjoys thanks to the abundant natural light.

 

And there’s also the private back room where clients can take advantage of massage therapy and acupuncture. 

This is just a sample. For a more comprehensive display, please visit our gallery page.

Want to know more? Do you need motivation? Are you looking for a new approach to personal fitness? Are you looking for a private and comfortable space to work with your clients? We’re just a click away. Just fill out the contact form and we’ll be in touch. 

Watch this space and our Facebook page for more video.

Counting down to launch

Anticipating launch: Stock image of trainer / client checking wrist watch / heart rate monitor.

Getting set to launch soon!

We’ve got the site structure down — now it’s just a matter of fleshing out the framework. We’re quite pleased with the design, which is getting good initial reviews; once we do a shoot at the studio, we’ll have more art to choose from. Not that anything’s wrong with the stock images we’ve been using for practice, of course. Once we’re live, there’ll be lots more content.

Copy has been very kindly supplied by a kickass marketing professional.

Still to come: branding.