The fitness studio and gym business is increasing these days. The reason of this growth…
Business Plan for a Fitness Center
1. Many Shapes and Forms
1.1. Play Close Attention to Membership Fees
2. Start with an Example
2.1. Customize the Document
There is an endless number and types of workout studios popping up around the country. They are catering to people who want to lose weight, slow the aging process, lead a healthier life, look like a bodybuilder, learn new modes of exercising, or master new skills like martial arts. The opportunities are only limited by the entrepreneur’s imagination. Bringing the exercise facility to life begins with writing a set of fitness center business strategies, covering everything from the mission to financial information.
Many Shapes and Forms
Before starting the fitness program description, decide if the facility will cater to the general public or specialize. For example, the concern may include space for a weight room and an exercise class area, a walking track, and a game court of some type. A current trend is boutique exercise locations or studios catering specifically to a market segment. Falling into this category are the small workout facilities offering limited activities like stationary cycling, pilates, trampolining, interval training, martial arts, and so on.
Play Close Attention to Membership Fees
Whether starting a big box or boutique exercise facility, or something in between, the owner sets a membership fee which is described in the business strategies for the fitness studio. Approximately 84 percent of Americans have no health club membership, so the competitive membership fee can attract new clients on a regular basis.
The monthly or annual facility membership amount will depend on the level of services offered, budgeted expenses, the number of forecasted clients, estimated client turnover, and the amount of investment in the facilities. One of the newest trends is the pay-as-you-go exercise facility where clients can join a group workout class. Center fees address all sources of revenue, including fees for membership, classes, product sales, class cancellations, special events, and extra services like use of a mechanical massage bed. All of this information is included in the fitness startup” title=”gym”>gym marketing strategy plan.
It takes a sizable investment in the center location and workout equipment. Many facility owners rent space in strip malls to minimize risks associated with property ownership. Heavy exercise equipment is expensive because most of it is digital and comes with televisions and cell phone connections. A big box facility will need staff, including personal trainers, front desk workers, and class instructors. However, the fitness studio operational plan may indicate the company will only require one employee – the owner.
One option is buying a franchise, meaning the opening a fitness center proposal will discuss the contractual agreement. There are distinct advantages to choosing the franchise route. The franchise does extensive industry and market research and assists franchise owners with getting the enterprise off to a good start. The franchisee gets to use the brand name and receives a set of policies and procedures that simplify center startup and operation. The venture proposal for fitness center will include monthly franchise fees as an expense.
Start with an Example
Getting the details of the new concern right is critical to landing center investors and operational sustainability, and that is one of the top reasons for developing a fitness club business project proposal. It is also the reason so many entrepreneurs get help with the starting a fitness center operational proposal. An approach is to browse a fitness center business program proposal. The sample fitness marketing and operational descriptions give an overview of the sections to include and can show anyone how to write a quality concept document:
- Executive Summary – In no more than 1-2 pages, this section states the financial investment sought for the center and gives a brief overview of the sections that follow.
- Description – This section explains the motivations for opening the new workout enterprise, the mission or vision, and long-term goals as a successful enterprise.
- Marketing Strategies – The marketing details in the fitness center marketing strategy gets down to the nitty-gritty. What is the market niche targeted for the center? What is the customer demographics? What are the strategies for offline and online marketing? Check a sample description closely for ideas.
- Competitive Analysis – Who are the primary competitors? What differentiates the new center from those already in the area? Describe the factors that set the new center apart from the competition in the organization’s proposal for fitness studio, like type of classes of equipment, or the experience of the personal trainer.
- Operating Proposal – The fitness operational proposal shows how to write sections on operations and management. This section discusses the staffing plan, physical layout and type of workout equipment, contractual arrangements, classes, operating hours, and other useful information.
- Financial Plan – Also in the operational proposal for fitness center document is found the financial plan. This section discusses revenue generation, operating expenses, start-up investment, sources of start-up funding, annual profit or loss for the first five years of operation, and five years of annual projections for the balance sheet and cash flow statements.
Customize the Document
Other sections can be added to the enterprise proposal for a gym. Look at a completed business plan PDF sample to get an overview of how to manage the basic development process. Add any relevant sections needed to describe the new enterprise, like a section on the uniqueness of the workout center offered or the development of brand recognition. Each finalized set of strategies for a fitness centre is unique because each enterprise is uniquely meeting the needs of an under-served market.
Writing the organization’s descriptions for fitness proposal is one way to achieve due diligence. The exercise business template is a form that keeps the owner on track to enjoy successful startup and a path to profitability.
Download example for creating free fitness center business plan pdf