How to Open a Gym, Grow It and Eventually Retire Rich

Nobody opens a gym to get rich.

We open gyms because we love coaching, we love helping people, and we want to change lives.

But if you don’t learn to make money as a gym owner, you won’t keep your doors open long enough to do any of it.

What kills gyms?

It used to be a lack of information. Now we have the opposite problem. There’s too much advice available—from other gym owners, business coaches, franchisors and “gurus” who might not even own gyms.

Without a framework, it’s hard to know what applies to you now, what you can save for later and what you can safely ignore.

That’s why I wrote about the four phases of gym ownership in my 2019 book “Founder, Farmer, Tinker, Thief”—the book exists to help you focus on the right things at the right time. (In 2026, I’ll publish an updated edition of the book—see below.)

Phase 1: Founder

Your job in Founder Phase is simple: Get to breakeven.

Do as much as you can yourself, build systems that will scale later, and prove your concept before you bring others into your vision.

Keep startup costs lean, avoid high-overhead traps, and wear every hat until your schedule is full.

A quick note here: Some gyms stay in Founder Phase for five years or more. If your gym isn’t consistently breaking even, you’re still in Founder Phase—no matter how much you know.

Phase 2: Farmer

Once you’re at capacity, your focus shifts to building predictable personal income—enough to cover your family’s needs.

Pay yourself first. If you’re not financially secure, your business isn’t, either.

Hire for low-value roles first (cleaner, admin) and work your way up. Avoid the trap of hiring another coach too soon.

Expand when you have to, not when you want to—every expansion delays profitability and puts your sustainability at risk.

Phase 3: Tinker

With consistent income and extra resources, you can start investing for the future.

That might mean expanding your gym, investing outside the business, improving yourself as a leader or upgrading your lifestyle to maintain your edge.

The biggest risk here? Distraction.

Invest simply (buy your building and put money somewhere safe) instead of starting new businesses that you don’t know well.

Don’t kill the golden goose (your gym)!

Stay focused on building your net worth until you can live off your investments.

Phase 4: Chief

Create other leaders: in your company, in other local gyms and in your local entrepreneurial community.

This is the evolution of what I once called “Thief Phase.” Now more than ever, entrepreneurs have a responsibility to lead—to develop other leaders, strengthen the economy and protect the freedoms that allow businesses like ours to exist. This is legacy work.

Where Are You Today?

Where are you on this path from founder to chief?

The first step to retiring rich as a gym owner is knowing your current phase and focusing on the right things.

To learn more, send me a DM to get my new guide: “Open a Gym and Retire Rich.”

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