Starting a business

[santiagodude]

My 2 cents. No shortage of upscale gyms in Santiago.
I Can think of two within a couple miles of each other. Maybe something on the lower end may have a chance? The gym I attend is not exactly over-flowing with business and its a well known international chain. Make sure you consider disposable income as well as the local economy (peso to dollar dynamics). The gym of course is a luxury many cannot afford. Good luck and keep us posted.

 

[Chip]

Hi Chip. With respect to the OP, my wife and I will be trying to take advantage of the Exonaracion de Mudanza sometime this coming Feb. We have plenty of personal exercise equipment, i.e., Gazelle, gravity table, massage table, Pilates Gym, and etc., and been wondering if these would be exempt under the law (miesposa es Dominicana). Yes or no? Thanks.

That would be a question for your Lic. Guzman or your shipping agent because I am not up to date.

 

[Seamonkey]

For decent gym equipment, lease, office equipment, corporation set up with all necessary business documents you are looking at a minimum USD$100k. Some gym equipment such as Nautilus and Hammer Strength can cost up to $8k each. Terrible business idea.

In North America gyms make a lot of money the week after New Year due to people making new year resolutions. I don't think many Dominicans do that here.

 

[SantiagueroRD]

Good Morning, My best advice is that if this is a personal relationship based business idea Don't do it. You are guaranteeing that the failure of the relationship and you getting stuck with the loss. If this is a purely business idea unless your friend is willing to take out a loan which makes him responsible Don't do it. I have been a member of or used several gyms in Santiago and there are too many as it is. Just because you are a loyal to your friend does not mean anybody else would change gyms to be with him.

 

[Aguaita29]

I don`t think a gym is the best business in the D.R. A friend of a friend had a gym, and it was packed from January to around March or April, then most people just stopped going. Most of the members left weren`t that good keeping up with payments.
Just be careful and make sure you do a lot of research before jumping in!

 

[PeterInBrat]

In North America gyms make a lot of money the week after New Year due to people making new year resolutions. I don't think many Dominicans do that here.

I think 100K seems high for a start-up. It depends in part if you are going for aerobics, weights, or both. I usually use the elliptical for aerobic with a pulse meter and then another device for strength, but I stay clear of the heavy gear.

One concept I haven't seen in the DR is a woman's only gym. The Curves franchise is doing great in the US, but I don't know if it would work in the DR. Then you can skip the heavy equipment.

Gyms make the real money with automatic memberships, not with pay as you go daily and monthly payment. If I was paying month to month, I would have stopped paying back in April.

My gym is open 24/7 and you get an RF chip you put on your keychain. Wave it in front of the lock and you can get in. Prob not the best idea in the DR!