Professional Diploma in

Fitness Instruction

Lesson 3: Fitness Business

Lesson

Objectives

Discuss the requirements of starting a personal training business

Identify what is needed to start a gym or fitness centre

Discover the components of a business plan

3

Personal training business

Personal training business • Personal trainers are a part of affiliate

programmes

• They are still running their own business

• A business plan is vital for success

Pros

At home clients pay more

Earning will be greater than a gym employee

Work on your own health & wellness

Management can be done from anywhere

You choose the hours

Cons

Building a client base

You need to deal with challenging clients

Know the latest research

Area dependent

Always need to be on top form

Insurance may be pricey

Before you get started

Experience

Certification

First aid or CPR

Business plan

Double check documents

Next steps

• Decide on your niche market

• Purchase equipment

Gym or fitness center

• They can make or break your business

• Research needs to be done

• Ensure there is enough data for an informed decision

The four steps

Location & size

• It must cater for the people

• Needs to be safe & convenient

• Has reasonable rental fees

• Visibility is also important

Potential members• Decide on the type & then find

the location

• Find the location & decide on the type

Competition & type

• What do the other gym in the area offer?

• What will be the best type of gym for that area?

Start-up & equipment costs • You need to budget

• There is more than one range of equipment

Business plan

Investors like detail

They want to know the benefits

Structured & refined document

It explains how the business is setup

Funding • Find individuals to invest

• Create a professional presentation

Time to shine • Put everything into action

• You have the capital

• There will always be hurdles for you to overcome

Creating a business plan

Business plan • A guide for people involved

• Shows: vision, objectives, & goals

• Includes strategies like: decisions, actions, support, & resources

• Without a business plan you will fail

Categories of a business plan

Specific to a department or unit

Less information about the background

A

B

Assists with decisions & actions

Serves as an informal guide

C

D

Internal

External

Distributed in the business

To obtain external support

Extensive & formal

Accompanies other documents

Internal processes

Lean

Track & guide tactics & tools

Such as budgets & cash flow

Internal projections

Standard

• Created for external purposes

• A comprehensive overview

• Used to reinforce external support

Mini-business plan • Also known as a one-page

business plan

• It is a summary of the standard plan

• Highlights specific sections

Core sections

Executive summary • Overview of important points

• Includes the vital details about the business

• Describes the nature of the business

• Includes market, challenges, anything identified

Executive summary

Core offering & problem solving

Similarities & differences

Unique selling proposition

Team members

Section 2

Mission

Phylosophy

Core values

Vision

Nature of the business

Section 2 • Includes goals & objectives

• Action orientates strategies

• Review of milestones

• High-level overview of execution plan

Overview

• Prospects

• Current trends in the fitness industry

• Size of the industry

• Competitiveness in the fitness industry

Overview • Market size

• Trends

• Market prospects

• Competitiveness

Comprehensive overview• Include a product or service

strategy

• Market research & analysis

• The visioning process & features of the service or product

• Competitor analysis

Comprehensive overview

• Ensures quality control

• Forecast budget

• Pricing strategy

Go-to-market strategy• Extended version of the overview

• Explains the potential of the business

• Includes a sales & marketing strategy

Operations strategy • Daily business operations

• Descriptions of every department

• A subsection includes external parties

Focus of individuals, capacities,

capabilities, & responsibilities

Management strategies

Could include biographies, experience,

contributions, skill sets, & targets

Accompanied by payrolls, processes, systems, & controls

Practice reviews & training strategies

Financial strategy • Most challenging part of a start up

business

• Ensures financial stability

• Provide an overview of all costs

Financial strategy • Overview of where funding will be

sourced

• Financial management strategies

• Tracking & management tools

Challenge

Create a business plan

#shawfitness

Completed lessons

1 2 4

5 6 7 8

3 See you soon for

L e s s o n 4