What You Need to Know About Writing a Gym Business Plan
Your dream of owning and operating your own gym is possible when you develop an effective gym business plan. A business plan will be useful for securing financing, and going through the steps of writing it will help you figure out exactly what you want out of your gym. If your 2016 goals include owning your own gym by the end of the year, then take these tips to write a business plan that will turn your dream into reality:
The most essential part of any solid business plan is knowing how much money you will need for startup, capital, and other expenses including staffing and personal trainers. The first thing you will need to include is enough research to indicate your estimated costs of starting up and running your gym. Then you will need to detail how you will keep your gym profitable, including elements like estimated sales and revenue, ideas to retain members, and promotional ideas.
Your unique qualities
There are a lot of gyms out there, and for good reason. There is a huge market as more and more people are realizing the benefits of a health lifestyle that includes a regular workout routine. Your business plan should include what makes your gym unique. What are you going to offer that your local competitors are not? Why will clients frequent your gym instead of the one down the street?
Target market and location
Your business plan should indicate who you are anticipating will join your gym based on your location and the amenities you will be offering. For this step, you will need to do some research to figure out who your client base is as well as the kinds of experience they are expecting and wanting out of their gym.
Writing a gym business plan requires some thoughtful planning and some well-performed research. Fortunately, you don’t need to do any of these things alone. When you work with Fitness Management and Consulting, we will guide you through the process of writing a business plan and will help you do the research you need to effectively establish your own gym. For more information on writing a business plan, or to find out more about how Fitness Management and Consulting can work with you, contact us today.
Jim Thomas is the founder and president of Fitness Management USA Inc., a management consulting and turnaround firm specializing in the fitness and health club industry. With more than 25 years of experience owning, operating and managing clubs of all sizes, Thomas lectures and delivers seminars and workshops across the country on the practical skills required to successfully build teamwork and market fitness programs and products. Visit his Web site at: www.fmconsulting.net. or www.jimthomasondemand.com.