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Fitness First I know their gym startup cost is generally between 1-1.5 mill to open. Break even takes upwards of 12 months.

I also heard that the Virgin one in French’s Forest, Sydney cost close to 10 mill and is struggling at the moment.

Location is absolutely imperative, near train station for eg, high traffic area for public, demographic of people etc…

I also looked at this opportunity and decided against it. Not to discourage you but you have to find a point of differentiation.