Owning a gym is an exciting venture, but it’s not just about fitness; it’s about protecting your business legally. Overlooking the legal side of things can lead to costly problems down the road. This quick check-up will help you spot any red flags that might need an attorney’s attention.
Entity Creation and Business Registration: The Foundation
- Did you form a legal entity (LLC, Corporation, etc.) for your gym? This step shields your personal assets.
- Is your gym registered with state and local authorities? This is essential for operating legally.
- Do you have a business bank account separate from your personal one? This keeps your finances organized and protected.
- Have you filed your “Doing Business As” (DBA) name properly? This lets customers know who they’re dealing with.
- Were your corporate documents (operating agreements, bylaws, etc.) drafted by an attorney? These are the blueprints of your business, and they need to be solid.
Lease Negotiations: Your Gym’s Home
- Have you signed a commercial lease agreement yet? This outlines your rights and responsibilities as a tenant.
- Did an attorney review your lease before you signed it? Leases are complex; an attorney can spot potential pitfalls.
- If your lease is up for renewal, are you working with an attorney to negotiate the best terms? Don’t miss the opportunity to get a better deal.
Membership Agreements: Protecting Your Revenue
- Do you have written membership agreements for all members? This clearly defines the terms of their membership.
Employment Matters: Your Team
- Are your staff correctly classified as employees or independent contractors? Misclassifying workers can lead to hefty fines.
- Do you have written employment agreements (or contractor agreements) in place? These agreements set expectations and protect both parties.
Regulatory Compliance: Following the Rules
- Are you sure you’re following all state and local regulations for gyms? These regulations can cover everything from safety to hygiene.
Waivers and Liability Protection: Safety First
- Do members sign waivers for all activities? This helps protect your gym from liability in case of injuries.
- Do you have adequate insurance coverage for your gym and its activities? Insurance is your financial safety net.
Partnerships: Teamwork
- Do you have written agreements with your partners outlining roles, responsibilities, and what happens if someone leaves? These agreements prevent misunderstandings and conflicts.
- Are profit-sharing or revenue-sharing arrangements clearly defined in writing? This avoids disputes over money.
Non-Equity Partnerships: Beyond Salary
- If you compensate staff with a percentage of profits, do you have a written agreement? This protects both your gym and the staff member.
Preventative Legal Work: An Ounce of Prevention
- Do you regularly seek legal advice to avoid problems before they happen? Proactive legal help can save you headaches (and money) later on.
Don’t Wait for Trouble
If you answered “No” or “I don’t know” to any of these questions, it’s time to call in the experts. An attorney can help you navigate these complex legal matters and ensure your gym is on solid footing.
Ready to protect your gym? Contact Gym Lawyers PLLC today for a free consultation. Let us help you focus on what you do best – helping others get fit – while we take care of the legal side of things.
