Logo is done with strong font, the composition is balanced to represent the company. An emblem above which could be used separately in marketing. Coloured variations to follow, this one is to show that most importantly the logo works in black and white and looks good.
Overall this logo emphasizes reaching one's personal goal. I think logo's with a weight emblem are too limited, not everyone is at the gym to push weight. The star represents reaching ones own personal goal brought by Balance Gym. This appeals to a huge market instead of deterring self conscious customers. Any variations or edits you would like to see please let me know and I shalll happily oblige.