Personal Training Business Plan Example

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 personal trainers business plan. 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 Trainers 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 personal trainers 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.

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.

Franchise Business Plan

Helps the franchisee get business case approval from the franchisor

 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 trainers’ 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 personal trainers business plan 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 are 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

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.

UK 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.

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 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:

1. There is not good quality personal trainer services provider in the area and there is a very good opportunity on that front.
2. 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.
3. 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 business plan. When you write a 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 trainers business plan. 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.

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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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