Advantages of Home Gyms & Goodbye to Costly Membership Fees

Are you tired of dealing with membership fees, startup costs, maintenance fees, and additional annual charges to maintain an active lifestyle? It's time to consider the benefits of having a home gym. While going to your local gym may seem convenient, the truth is that it can be one of the costliest options in the long run. Setting up your gym equipment at home not only provides short-term convenience and eliminates the need for travel, but it also saves you money in the long term.

Having a home gym means you can say goodbye to monthly or annual membership fees. Instead of continuously paying for a gym membership that adds up to hundreds of dollars over time, you can make a one-time investment in your equipment. This investment will be cost-effective and save you money in the long run. With a home gym, you can work out whenever you want without the pressure of using the membership to justify the cost.

Save Money by Eliminating Monthly Membership Costs

While gym memberships often advertise themselves as affordable, the reality is that these memberships can cost you a significant amount of money over time. In the United States alone, approximately 60.8 million people, which is roughly one in five adults, hold memberships at one of the country's 38,000 gyms and health clubs. These individuals pay annual, monthly, or daily fees to work out, collectively contributing to the gym industry's revenue of over $30 billion annually.

Membership charges can vary depending on your location and fitness preferences, but the industry-wide average stands at $58 per month or $696 per year. On top of the monthly fee, many fitness centers also impose an "annual fee" at the beginning of each membership cycle and an "initiation fee" when you sign up, reaching as high as $250. These additional charges may create the illusion of savings or special deals, but they primarily cover the gym's administrative costs.

The Real Cost of Gym Memberships: Research Findings from 2019

On the surface, these membership charges seem reasonable. If an average person were to visit the gym seven times a week without missing a day, the annual cost of $696 would amount to approximately $1.90 per visit. However, the reality is that most people only come close to visiting the gym occasionally. Even at four visits per week, the cost per visit would be around $3.36. This disparity between the actual usage and the cost per visit makes gym memberships a poor investment for many individuals.

A study by Hustle highlighted the gap between gym membership expectations and actual usage. The study found that while members anticipated visiting a fitness center 9.5 times a month, they only ended up going an average of 4.17 times per month, totaling around 50 visits per year. Considering that the average workout session lasts approximately one hour, the cost per workout adds up to $14.50. It becomes evident that these costs can accumulate significantly over time, especially compared to other monthly expenses.

Other Monthly Costs Compared to Gym Memberships in 2019.

Comparing gym memberships to other monthly expenses in 2019 reveals interesting insights. Under a study conducted by UC Berkeley economists, although gym members expected to visit the fitness center 9.5 times per month, they went only 4.17 times per month, resulting in approximately 50 visits per year.

Let's consider the average duration of a one-hour workout. Calculating the cost per workout based on the annual membership fee of $696 amounts to $14.50 per session. This cost may seem reasonable at first glance, but comparing it to other monthly expenses, it becomes clear that gym memberships can be expensive

For instance, a survey by Statistic Brain found that 63% of gym memberships in the United States go unused. Among gym-goers, 82% visit the gym less than once a week, and 22% stop going after six months but continue paying the membership fee. This indicates that many individuals do not fully utilize

The Gym's Strategy: Betting on Your Absence

It's no secret that the nation's largest gym chains often enroll far more members than their facilities can accommodate. They know that a significant portion of their members will only show up occasionally. This strategy allows them to keep prices down by having more memberships than their gym can accommodate.

For example, a Planet Fitness subsidiary in New York City with a maximum capacity of about 300 members had more than 6,000 members, as reported by Planet Money. Similarly, Gold's Gym and Lifetime Fitness frequently have 5,000 to 10,000 members per location, even though their facilities can only accommodate 300 to 500 people at once.

Create Your Home Gym for Convenient and Accessible Workouts

Creating your home gym is wise when considering the costs and limitations of traditional gym memberships. While gyms offer fitness benefits and often have reasonable pricing considering equipment maintenance and staff expenses, it isn't easy to justify the cost when the odds of regular participation are stacked against you.

Additionally, the Department of Health and Human Services conducted research, the recommended amount of exercise includes 150 minutes of regular aerobic activity and at least two weekly strength training exercises for each muscle group. The good news is that you can quickly achieve these guidelines without relying on a gym membership.

The key to building your home gym is to choose the right equipment based on your exercise preferences and available space. You can create a space-efficient setup that allows you to complete a full-body workout, all for approximately the exact cost as a year's worth of gym memberships. Investing in your equipment will enable you to exercise whenever you want without being bound by gym schedules or closing times.

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Consider the following equipment options for your home gym:

Burpees: Free

Push-ups: Free

Squats + Lunges: Free

Running/Walking:          Equipment: Shoes: $75

Jumping:                           Equipment: Jump Rope: $18

 

Pull-ups:                           Equipment: Pull-up Bar: $300

Yoga + Stretching:          Equipment: Workout Mat: $26

Resistance Training:       Equipment: Resistance Bands: $40

Weightlifting:                  Equipment: Dumbbell Set: $150

Strength Traning:                  Equipment: Adjustable Bench: $205

Deadlifts:                  Equipment: Bar & Plates: $290

Let's compare the costs: If you pay an average gym fee of $61 per month ($738 per year) in just 12 months, a home gym investment of approximately $1,104 will pay for itself. Over five years, this amounts to $3,690 in savings compared to continued membership fees, or you could allocate the $1,104 to hire someone to design a customized home gym to your specifications. Plus, the equipment belongs to you, providing a long-term solution.

Whether you're considering opening a small personal training studio, sports performance facility, rehab space, or simply upgrading an existing room, creating a home gym gives you accessibility and convenience—farewell to the hassle of traveling to the gym and adhering to their schedules. Your home gym is accessible 24/7, ready for you to work out whenever it suits you best.