HomeLifestyleLifestyle: How to Capitalize on FItness Trends in Colorado!

Lifestyle: How to Capitalize on FItness Trends in Colorado!

Colorado! Physical fitness and self-care are having a moment. More people than ever are conscientious about what they put in and on their bodies, the products they use in their homes, and even their amount of daily physical activity.

About a quarter, 23% of Americans, get enough exercise. But those numbers have risen in recent years. For example, one study found that people who worked out once or twice a week before March 2020 exercised 88% more after March 2020. People who worked out three times a week increased their amount of activity by 38%.

Granted, these statistics are from a worldwide study of only 13,000 people, but the evidence suggests that exercise has increased to some degree in the last two years.

And Colorado is the rule here, not the exception. In fact, Colorado has been rated the fittest state in the U.S. This ranking is based on many factors, but most notably, Colorado has the lowest obesity rate in the country (22.7%), the highest number of gyms, and the most outdoor fitness opportunities.

Starting a Fitness Business in Colorado

Nearly 84% of Colorado residents work out regularly—the highest exercise rate in the country. So it’s easy to see why this state is the most physically fit in the nation. And it’s also easy to see why someone would want to locate a fitness business in Colorado.

In Colorado, the opportunities to start a fitness business go well beyond opening another gym. But before diving into the types of fitness businesses you could start in Colorado, you need to think about what it takes to create your own company.

Starting a business, any business is a challenge. So most people get organized by writing a business plan based on the market’s demands and opportunities. But too few entrepreneurs include insurance considerations in that plan. So here’s what you need to know about Colorado’s fitness business insurance.

Insurance for Fitness Businesses in Colorado

There are many business insurance options. And choosing the right one for your fitness business can be challenging. So here are a few of the most common business insurance policies you should consider.

  1. Workers’ Compensation Insurance: Workers’ compensation is a required policy in Colorado if you have more than one employee. Most of the startup fitness business opportunities will begin with you alone, but when growth happens, you’ll need to get workers’ compensation insurance. These policies cover lost wages, medical care, retraining, permanent injury, and survivor benefits.
  2. General Liability Insurance: You’re not legally required to get general liability insurance, but securing a policy is an excellent idea. This catch-all policy can protect you and your business from property damage, advertising harm, medical costs, bodily injury, court fees, and even lawsuits for libel, slander, and defamation.
  3. Tools and Equipment Insurance: No matter what type of fitness business you plan to start, you’ll probably need some tools and equipment to get going. Things like a new laptop, high-quality AV equipment, weights, mats, etc. Tools and equipment policies protect that equipment in case they’re damaged or stolen, even if you lend them to a colleague.
  4. Professional Liability & Errors and Omissions Insurance: When working in fitness, you’re bound to run into a few clients with unrealistic expectations about their results. If they try to sue you for failing to deliver on their dream body, professional liability and errors and omissions insurance can help. These policies protect business owners from business errors, missed deadlines, and accusations of negligence.
  5. Commercial Auto & Property Insurance: Where you work and whether or not you routinely use a vehicle for your business will vary for every entrepreneur. The critical thing to know here is that standard property and auto insurance usually doesn’t cover damages to home offices or fleet vehicles. Therefore, getting commercial property and auto insurance ensures protection should the need arise.

These are the most common business insurance policies, but they are by no means the only ones available. Do more research on this and consult an insurance professional to fully protect your fitness business in Colorado.

The Best Fitness Businesses to Start in Colorado

The first thing you think of when you hear the words “fitness business” is probably a gym. Gyms are great, but these days, the opportunities in this sector go far beyond starting your own fitness center. Here are a few other possibilities to consider.

Become a Coach

Coaching is a great fitness business to start in Colorado. So many people want to work out but struggle to know how. Others are willing to follow a program but need motivation and accountability to do it.

Coaching, which you can also think of as athletic training, usually takes some experience and education to get started. And in Colorado, you need to get an Athletic Trainer License to offer your services legally.

Launch a Podcast

Are you a fitness junkie but have no interest in training others? Then, starting a podcast might be right for you. With this medium, you can talk about all the fitness topics that interest you, interview experts, and even get sponsorships from other fitness companies.

More than a third of Americans regularly listen to podcasts, and more are tuning in daily. Hosting a podcast should be a great fit if you have the gift of gab and enjoy health and wellness.

Create Video Content

Ever done a YouTube yoga class or a HIIT workout on Instagram? Or maybe you’ve watched a TikTok video about the right way to stretch before and after a workout? Using social platforms to find fitness content is more popular than ever.

But just because there’s an engaged audience, creating content isn’t easy. There’s a lot of production expertise needed, not to mention valuable information to share. So the trick is to grow your followers by consistently creating high-quality, engaging content they’ll want to watch and share.

Write a Blog

Writing a health and fitness blog is a fantastic way to share your workout knowledge without having to go behind a microphone or in front of a camera. Instead, you can use your words to educate people about vital health and fitness topics, and you can do so from anywhere, at any time.

Blogging is a wonderfully flexible way to make a living, but writing isn’t for everyone. Just like video content, you need to craft high-quality content that makes people want to finish every article—and stay tuned for more.

Now’s the time to start a fitness business in Colorado. Which one will you choose? Whatever you decide, make sure you do your research, create a plan, and get insured before launching your business.

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