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Personal trainer business plan for starting your own business
Starting your own business is the only shot you have at financial freedom. If you want a good lifestyle, no job can make that possible for you. Investment is one of the biggest hurdles in starting your own business and that’s why we have brought this business plan for a personal trainer that can be started with relatively low starting capital.
If you are interested in knowing how to open a personal training business, the most important thing that you need to make is a strategic business plan for your business. This is the thing that will make your business a success. Most of the things that we will discuss here are also true for a yoga studio business plan. Let’s see what it takes to start and establish a personal trainer business.
Personal Trainer Business Plan Summary
2.1 The Business
Bruce Personal Fitness will be a licensed and bonded personal trainer provider company based in Chicago, Ohio. Bruce Jackson is starting a personal training business plan because he is an experienced personal trainer looking to start a business rather than doing a job.
2.2 Management of Personal Training
One of the most important things to consider when you want to make a business plan for bank to get a loan for the business is to have a management plan for the venture. This is important because if you go to any bank to get the financing, the first thing they’ll ask you is how to set up a personal training business and having a proper reply for that is what you need to successfully secure the loan.
Note
Bruce will manage the business himself but will hire a manager to look after the daily things while he himself focuses on other important things of the business, like finding clients and providing the right fitness and personal trainer to the right client.
2.3 Customers of Personal Training
The next thing you need to know if you want to learn how to start a personal training business is the customers that you will be providing the services to. Unlike a dance studio business plan where all the customers are of the same category, the personal trainer business will have a diverse range of customers.
The customers of our will be:
- People looking to get in shape.
- People recovering from physical trauma.
- Schools that need a personal trainer for their students.
- Organizations looking for personal trainers for their employees.
2.4 Business Target
Our targets are:
- To maintain a customer satisfaction rate of more than 95%.
- To provide personal trainer services of the highest quality to all people.
- To make permanent clients from the education and corporate sector.
- To become the leading personal trainer provider in the US.
Company Summary
3.1 Company Owner
Bruce Jackson will be the owner and CEO of the company. He has decided to start this business after going through a lot of personal trainer business plan examples. He has a lot of experience and contacts in the field owing to his many years of work in this industry.
3.2 Why the Personal Trainer Business is being started?
Brusce is starting a personal training business because he has seen the need for one in the area. There is a serious demand of personal trainers in Chicago and there’s hardly any good service provider in the area. This, coupled with the fact that Bruce is a very experienced man of the field, makes it the right choice to start this business.
3.3 How the Personal Trainer Business will be started?
Step1: Making a Detailed Personal Training Studio Business Plan
The first and the most important part of any sample business plan for personal trainer is planning. This is the phase where the strategy for the business will be made and a strategy for realizing the goals and targets of the business will be decided. Bruce will hire a professional business planner to make the plan that will guide the business to success.
Step2: Branding
The people who look for a personal trainer are mostly the ones who are brand conscious and want to get all their services and products from established brands. Substantial time and effort and a sizable budget will be invested in making a brand for the business.
Step3: Establish and Office and a Website
After the plan for the business is complete and the brand has been made, the next step will be to actually establish the business. For this, we will outfit an office to serve as the headquarter and will launch a website so that people can reach out to the business online.
Step4: Marketing
Promotion and marketing is also very important in establishing any business and all methods will be used to make out brand and business known to anyone who can be a customer in the future. We need enough marketing power to make sure that whenever someone mentions a personal trainer, Bruce Personal Fitness is the thing that comes to mind.
| Start-up Expenses | |
| Legal | $243,000 |
| Consultants | $0 |
| Insurance | $30,000 |
| Rent | $31,000 |
| Research and Development | $28,000 |
| Expensed Equipment | $51,000 |
| Signs | $4,000 |
| TOTAL START-UP EXPENSES | $387,000 |
| Start-up Assets | $320,000 |
| Cash Required | $360,000 |
| Start-up Inventory | $55,000 |
| Other Current Assets | $230,000 |
| Long-term Assets | $243,000 |
| TOTAL ASSETS | $1,208,000 |
| Total Requirements | $1,595,000 |
| START-UP FUNDING | |
| Start-up Expenses to Fund | $387,000 |
| Start-up Assets to Fund | $1,208,000 |
| TOTAL FUNDING REQUIRED | $1,595,000 |
| Assets | |
| Non-cash Assets from Start-up | $1,583,000 |
| Cash Requirements from Start-up | $377,000 |
| Additional Cash Raised | $60,000 |
| Cash Balance on Starting Date | $36,000 |
| TOTAL ASSETS | $2,056,000 |
| Liabilities and Capital | |
| Liabilities | $30,000 |
| Current Borrowing | $0 |
| Long-term Liabilities | $0 |
| Accounts Payable (Outstanding Bills) | $50,000 |
| Other Current Liabilities (interest-free) | $0 |
| TOTAL LIABILITIES | $80,000 |
| Capital | |
| Planned Investment | $1,595,000 |
| Investor 1 | $0 |
| Investor 2 | $0 |
| Other | $0 |
| Additional Investment Requirement | $0 |
| TOTAL PLANNED INVESTMENT | $1,595,000 |
| Loss at Start-up (Start-up Expenses) | $381,000 |
| TOTAL CAPITAL | $1,976,000 |
| TOTAL CAPITAL AND LIABILITIES | $2,056,000 |
| Total Funding | $1,595,000 |
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Services of Personal Trainer Business
No personal trainer business plan template can be complete without discussing the services that the business will be providing. It is cardinally important to have a clear detail of the services to be provided in order to make a personal trainer studio business plan to be a successful one.
Another thing to note is that the personal trainer field is a very complicated and diverse one and we need to target the correct services, the ones that can bring us the most business.
Here are the main services that Bruce Personal Fitness will be providing.
- Body Transformations Training
This will be the main service provided by Bruce Personal Fitness because this is the main purpose for which people want a personal trainer.
- Physical Stamina Improvement Training
Doing too much exercise is not always the best way to increase stamina. We will provide personal trainers that can help people increase their body’s stamina and performance by smart work rather than hard work.
- Psychological Stamina Improvement Training
Another service that we will be providing will be that of psychological stamina improvement. This will be for the people who lack willpower and emotional stability, and their lives suffer because of this.
- Motivational Lectures
The job of personal trainers goes beyond physical or psychological realms. Sometimes, the client needs something more than that and that’s where having a motivational speaker comes in. We’ll provide these services for individuals as well as institutions.
Marketing Analysis of a Business Consulting Company
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The next thing that you must do in order to know how to write a personal trainer business plan is how to do the marketing analysis for the business. This is the part where you factor in all the market variables from the investment to market forces and from competitor research to market trends to help make the business successful. This step is every bit as important here as it is in a climbing gym business plan.
5.1 Market Trends
You need to have knowledge of the market trends before starting a personal training business if you do not want it to flop. Observation and market insight tells us the trend of hiring personal trainers is on the rise and more and more people want these services. This means that if we are opening a personal training business right now, it will be a success by all means.
5.2 Marketing Segmentation
Marketing segmentation is the next important thing in this business plan template for personal trainer. We need to know what the market we are going to serve is made up of so that we can direct the right resources the right way.
Start-Up Visa Business Plan
5.2.1 Individual Fitness Clients
These will be the people who want to get into shape but lack the motivation for it. Personal trainers will be provided to them to help them achieve their body shape and weight goals.
5.2.2 Individual Medical Clients
The people who are recovering from a physical trauma and need assistance will also be out customers. We will provide all types of services for them.
5.2.3 Schools & Organizations
Schools and corporate organizations that need a personal trainer for their students/employees will also be a pretty large market segment for us.
| Market Analysis | |||||||
| Potential Customers | Growth | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | CAGR |
| Individual Fitness Clients | 52% | 54,000 | 55,000 | 56,000 | 57,000 | 58,000 | 10.00% |
| Individual Medical Clients | 28% | 31,000 | 32,000 | 33,000 | 34,000 | 36,000 | 10.00% |
| Schools & Organizations | 20% | 18,000 | 20,000 | 22,000 | 24,000 | 26,000 | 11.00% |
| Total | 100% | 103,000 | 107,000 | 111,000 | 115,000 | 120,000 | 10% |
5.3 Business Target
Our business targets are:
- To get as many permanent customers as we can.
- To make Bruce Personal Fitness a well-known and reputable brand in the market.
- To provide impeccable services to our customers.
5.4 Product Pricing
We will price our services slightly above the market average. This is a good strategy because the competition is not up to the mark with what we are going to make and we can attract customers even if we charge more than them.
Any questions? Get in Touch
Marketing Strategy of Business Consulting Business
A mistake that most personal trainer business startups make is that of adopting a marketing approach that is mean for a fitness center business plan. You need to know that the marketing ideas for personal trainers and personal training marketing strategies are entirely different.
6.1 Competitive Analysis
Bruce Personal Fitness is expected to have ethe following competitive advantages over the competition:
- There is not good quality personal trainer services provider in the area and there is a very good opportunity on that front.
- The companies providing these services in the area are not Chicago-based which makes it expensive for them to operate and they end up charging way more than what their services are worth.
- We have a team of extremely experienced and skilled personal trainers.
6.2 Sales Strategy
- We’ll take some famous athletes onboard to endorse our services.
- We’ll promote and market our services through all possible advertisement channels.
- We’ll offer discounts to people in the first 3 months.
6.3 Sales Monthly
6.4 Sales Yearly
6.5 Sales Forecast
| Sales Forecast | |||
| Unit Sales | Year 1 | Year 2 | Year 3 |
| Body Transformations Training | 50,000 | 53,000 | 56,180 |
| Physical Stamina Improvement Training | 60,000 | 63,600 | 67,416 |
| Psychological Stamina Improvement Training | 56,000 | 59,360 | 62,922 |
| Motivational Lectures | 49,000 | 51,940 | 55,056 |
| TOTAL UNIT SALES | 215,000 | 227,900 | 241,574 |
| Unit Prices | Year 1 | Year 2 | Year 3 |
| Body Transformations Training | $50.00 | $58.00 | $67.28 |
| Physical Stamina Improvement Training | $46.00 | $53.36 | $61.90 |
| Psychological Stamina Improvement Training | $43.00 | $49.88 | $57.86 |
| Motivational Lectures | $38.00 | $44.08 | $51.13 |
| Sales | |||
| Body Transformations Training | $2,500,000.00 | $3,074,000.00 | $3,779,790.40 |
| Physical Stamina Improvement Training | $2,760,000.00 | $3,393,696.00 | $4,172,888.60 |
| Psychological Stamina Improvement Training | $2,408,000.00 | $2,960,876.80 | $3,640,694.11 |
| Motivational Lectures | $1,862,000.00 | $2,289,515.20 | $2,815,187.89 |
| TOTAL SALES | $9,530,000.00 | $11,718,088.00 | $14,408,561.00 |
| Direct Unit Costs | Year 1 | Year 2 | Year 3 |
| Body Transformations Training | $48.00 | $56.00 | $64.00 |
| Physical Stamina Improvement Training | $44.00 | $51.00 | $59.00 |
| Psychological Stamina Improvement Training | $41.00 | $47.00 | $54.00 |
| Motivational Lectures | $37.00 | $42.00 | $49.00 |
| Direct Cost of Sales | |||
| Body Transformations Training | $2,400,000.00 | $2,968,000.00 | $3,595,520.00 |
| Physical Stamina Improvement Training | $2,640,000.00 | $3,243,600.00 | $3,977,544.00 |
| Psychological Stamina Improvement Training | $2,296,000.00 | $2,789,920.00 | $3,397,766.40 |
| Motivational Lectures | $1,813,000.00 | $2,181,480.00 | $2,697,763.60 |
| Subtotal Direct Cost of Sales | $9,149,000.00 | $11,183,000.00 | $13,668,594.00 |
Personnel plan
Just like a martial arts business plan, this business needs a lot of skilled people to run. As the services are to be provided by trainers, the bulk of our workers need to be experienced personal trainers. When you write business plan personal training, you need to make a complete personnel plan.
7.1 Company Staff
Bruce will be the CEO of the company. He will hire the following people to effectively run the company.
- 1 Manager to look after the operations of the business.
- 5 Personal fitness trainers.
- 3 Medical recovery trainers.
- 1 Accountant.
- 1 Receptionist.
7.2 Average Salary of Employees
| Personnel Plan | |||
| Year 1 | Year 2 | Year 3 | |
| Operations Manager | $14,000 | $15,400 | $16,940 |
| Personal Fitness Trainers | $55,000 | $60,500 | $66,550 |
| Medical Recovery Trainers | $30,000 | $33,000 | $36,300 |
| Accountant | $9,000 | $9,900 | $10,890 |
| Receptionist | $8,000 | $8,800 | $9,680 |
| Total Salaries | $116,000 | $127,600 | $140,360 |
Financial Plan
Even though unlike a trampoline park business plan, this business does not need substantial investment, we still need to figure out the costs involved in establishing and running this business.
Here’s a simplified financial plan for personal training business. Let’s see what are the expenses for which you need to have money before you can start the business.
- Cost of getting the business licensed.
- Cost of establishing the office.
- Cost of making a website.
- Brand logo designing costs.
- Salaries of the employees.
- Marketing and advertisement cost.
Any questions? Get in Touch
8.1 Important Assumptions
| General Assumptions | |||
| Year 1 | Year 2 | Year 3 | |
| Plan Month | 1 | 2 | 3 |
| Current Interest Rate | 8.07% | 8.11% | 8.27% |
| Long-term Interest Rate | 8.30% | 8.40% | 8.49% |
| Tax Rate | 23.85% | 24.60% | 25.80% |
| Other | 0 | 0 | 0 |
8.2 Break-even Analysis
| Break-Even Analysis | |
| Monthly Units Break-even | 5345 |
| Monthly Revenue Break-even | $132,400 |
| Assumptions: | |
| Average Per-Unit Revenue | $235.00 |
| Average Per-Unit Variable Cost | $0.65 |
| Estimated Monthly Fixed Cost | $162,100 |
8.3 Projected Profit and Loss
| Pro Forma Profit And Loss | |||
| Year 1 | Year 2 | Year 3 | |
| Sales | $9,530,000 | $11,718,088 | $14,408,561 |
| Direct Cost of Sales | $9,149,000 | $11,183,000 | $13,668,594 |
| Other | $0 | $0 | $0 |
| TOTAL COST OF SALES | $9,149,000 | $11,183,000 | $13,668,594 |
| Gross Margin | $381,000 | $535,088 | $739,967 |
| Gross Margin % | 4.00% | 4.57% | 5.14% |
| Expenses | |||
| Payroll | $116,000 | $127,600 | $140,360 |
| Sales and Marketing and Other Expenses | $127,000 | $130,000 | $131,000 |
| Depreciation | $2,400 | $2,300 | $2,200 |
| Leased Equipment | $0 | $0 | $0 |
| Utilities | $3,000 | $3,140 | $3,200 |
| Insurance | $2,000 | $2,100 | $2,200 |
| Rent | $3,500 | $3,600 | $3,800 |
| Payroll Taxes | $31,000 | $32,000 | $33,000 |
| Other | $0 | $0 | $0 |
| Total Operating Expenses | $284,900 | $300,740 | $315,760 |
| Profit Before Interest and Taxes | $96,100 | $234,348 | $424,207 |
| EBITDA | $96,100 | $234,348 | $424,207 |
| Interest Expense | $0 | $0 | $0 |
| Taxes Incurred | $19,220 | $46,870 | $84,841 |
| Net Profit | $76,880 | $187,478 | $339,366 |
| Net Profit/Sales | 0.81% | 1.60% | 2.36% |
8.3.1 Profit Monthly
8.3.2 Profit Yearly
8.3.3 Gross Margin Monthly
8.3.4 Gross Margin Yearly
8.4 Projected Cash Flow
| Pro Forma Cash Flow | |||
| Cash Received | Year 1 | Year 2 | Year 3 |
| Cash from Operations | |||
| Cash Sales | $55,000 | $59,400 | $64,152 |
| Cash from Receivables | $13,000 | $14,040 | $15,163 |
| SUBTOTAL CASH FROM OPERATIONS | $68,000 | $74,120 | $80,050 |
| Additional Cash Received | |||
| Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
| New Current Borrowing | $0 | $0 | $0 |
| New Other Liabilities (interest-free) | $0 | $0 | $0 |
| New Long-term Liabilities | $0 | $0 | $0 |
| Sales of Other Current Assets | $0 | $0 | $0 |
| Sales of Long-term Assets | $0 | $0 | $0 |
| New Investment Received | $0 | $0 | $0 |
| SUBTOTAL CASH RECEIVED | $68,000 | $75,000 | $81,000 |
| Expenditures | Year 1 | Year 2 | Year 3 |
| Expenditures from Operations | |||
| Cash Spending | $37,000 | $39,000 | $41,000 |
| Bill Payments | $24,000 | $27,000 | $29,000 |
| SUBTOTAL SPENT ON OPERATIONS | $61,000 | $66,000 | $70,000 |
| Additional Cash Spent | |||
| Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
| Principal Repayment of Current Borrowing | $0 | $0 | $0 |
| Other Liabilities Principal Repayment | $0 | $0 | $0 |
| Long-term Liabilities Principal Repayment | $0 | $0 | $0 |
| Purchase Other Current Assets | $0 | $0 | $0 |
| Purchase Long-term Assets | $0 | $0 | $0 |
| Dividends | $0 | $0 | $0 |
| SUBTOTAL CASH SPENT | $61,000 | $65,880 | $71,150 |
| Net Cash Flow | $16,000 | $17,000 | $19,000 |
| Cash Balance | $27,000 | $28,400 | $30,020 |
8.5 Projected Balance Sheet
| Pro Forma Balance Sheet | |||
| Assets | Year 1 | Year 2 | Year 3 |
| Current Assets | |||
| Cash | $286,500 | $320,880 | $352,968 |
| Accounts Receivable | $25,000 | $28,000 | $31,472 |
| Inventory | $4,000 | $4,480 | $4,900 |
| Other Current Assets | $1,000 | $1,000 | $1,000 |
| TOTAL CURRENT ASSETS | $291,000 | $325,920 | $366,334 |
| Long-term Assets | |||
| Long-term Assets | $10,000 | $10,000 | $10,000 |
| Accumulated Depreciation | $19,000 | $21,280 | $23,940 |
| TOTAL LONG-TERM ASSETS | $24,000 | $26,880 | $30,240 |
| TOTAL ASSETS | $297,000 | $332,640 | $374,220 |
| Liabilities and Capital | Year 4 | Year 5 | Year 6 |
| Current Liabilities | |||
| Accounts Payable | $19,500 | $21,840 | $24,548 |
| Current Borrowing | $0 | $0 | $0 |
| Other Current Liabilities | $0 | $0 | $0 |
| SUBTOTAL CURRENT LIABILITIES | $16,500 | $18,480 | $20,772 |
| Long-term Liabilities | $0 | $0 | $0 |
| TOTAL LIABILITIES | $16,000 | $17,920 | $20,142 |
| Paid-in Capital | $32,000 | $32,000 | $33,000 |
| Retained Earnings | $56,000 | $61,040 | $67,144 |
| Earnings | $199,000 | $216,910 | $238,601 |
| TOTAL CAPITAL | $277,000 | $301,930 | $332,123 |
| TOTAL LIABILITIES AND CAPITAL | $293,000 | $332,640 | $374,220 |
| Net Worth | $283,000 | $308,470 | $339,317 |
8.6 Business Ratios
| Ratio Analysis | ||||
| Year 1 | Year 2 | Year 3 | INDUSTRY PROFILE | |
| Sales Growth | 7.04% | 7.80% | 8.64% | 3.00% |
| Percent of Total Assets | ||||
| Accounts Receivable | 9.20% | 10.19% | 11.29% | 9.80% |
| Inventory | 5.50% | 6.09% | 6.75% | 9.90% |
| Other Current Assets | 2.10% | 2.33% | 2.58% | 2.40% |
| Total Current Assets | 150.00% | 151.00% | 152.00% | 158.00% |
| Long-term Assets | 11.87% | 11.90% | 11.93% | 12.00% |
| TOTAL ASSETS | 100.00% | 100.00% | 100.00% | 100.00% |
| Current Liabilities | 4.55% | 4.59% | 4.63% | 4.34% |
| Long-term Liabilities | 0.00% | 0.00% | 0.00% | 0.00% |
| Total Liabilities | 7.44% | 7.50% | 7.57% | 7.38% |
| NET WORTH | 100.30% | 101.10% | 102.03% | 110.00% |
| Percent of Sales | ||||
| Sales | 100.00% | 100.00% | 100.00% | 100.00% |
| Gross Margin | 94.66% | 97.22% | 99.94% | 99.00% |
| Selling, General & Administrative Expenses | 93.99% | 96.53% | 99.23% | 97.80% |
| Advertising Expenses | 1.64% | 1.68% | 1.73% | 1.40% |
| Profit Before Interest and Taxes | 41.00% | 42.11% | 43.29% | 33.90% |
| Main Ratios | ||||
| Current | 37 | 38 | 38 | 32 |
| Quick | 32 | 33 | 33.825 | 33 |
| Total Debt to Total Assets | 0.22% | 0.19% | 0.18% | 0.40% |
| Pre-tax Return on Net Worth | 74.88% | 75.64% | 76.69% | 75.00% |
| Pre-tax Return on Assets | 93.84% | 98.53% | 103.46% | 111.30% |
| Additional Ratios | Year 1 | Year 2 | Year 3 | |
| Net Profit Margin | 32.66% | 33.67% | 34.72% | N.A. |
| Return on Equity | 56.00% | 57.74% | 59.53% | N.A. |
| Activity Ratios | ||||
| Accounts Receivable Turnover | 7.7 | 7.8 | 7.9 | N.A. |
| Collection Days | 100 | 100 | 100 | N.A. |
| Inventory Turnover | 32 | 33.6 | 34.01 | N.A. |
| Accounts Payable Turnover | 16.3 | 16.4 | 16.54 | N.A. |
| Payment Days | 27 | 27 | 27 | N.A. |
| Total Asset Turnover | 2.4 | 2.5 | 2.6 | N.A. |
| Debt Ratios | ||||
| Debt to Net Worth | -0.03 | -0.03 | -0.04 | N.A. |
| Current Liab. to Liab. | 1 | 1 | 1 | N.A. |
| Liquidity Ratios | ||||
| Net Working Capital | $245,000 | $258,720 | $273,208 | N.A. |
| Interest Coverage | 0 | 0 | 0 | N.A. |
| Additional Ratios | ||||
| Assets to Sales | 0.81 | 0.85 | 0.9 | N.A. |
| Current Debt/Total Assets | 1% | 0% | 0% | N.A. |
| Acid Test | 27.9 | 28.4 | 29.4 | N.A. |
| Sales/Net Worth | 2.1 | 2.1 | 2.2 | N.A. |
| Dividend Payout | 0 | 0 | 0 | N.A. |
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