Personal Training Business Plan

FormSwift's 2015 Summer Scholarship asked college students across the country to come up with a sample business plan for one of five categories: Bakery, Restaurant, Salon, Personal Training and Trucking. We chose the best sample business plan for each category, and one scholarship winner.

1. Starting a Personal Training Company

Research

  • U.S. overweight and obese population: 78.6 Million
  • Number of personal trainers in U.S.: 273.5 thousand
  • Ratio of overweight people to personal trainers: 287 to 1
  • Annual gym/health club industry revenue: $21,800,000,000

Location

  • Although there are gyms, not all people are motivated to go
  • 67% of people with a gym membership rarely use it.
  • People need to be motivated to work out, and that's what personal trainers do: They motivate.

2. Organize

Company Description

A fitness-focused company that not only works with individuals one-one-one to motivate them to live a healthy lifestyle, but also provides them with plans and how-to knowledge on meeting their goals.

Goal

To promote a healthier lifestyle for the customers and the surrounding community.

3. Advertise

Target Market

  • Men and Women
  • Agest 16 to 50
  • Live in Huntington, WV Area
  • Looking to Live Healthie
  • Have $100+ Disposable Monthly Income

Reaching the Target Market

Social Media

On social media sites,ads can be written for each specific age group and targeted exactly at them. Furthermore, interacting with customers through social media is a great way to create loyal customers.

Smartphone App

Creating a user-friendly app that customers can use to track their progress and stay in contact with their progress and stay in contact with their personal trainer will reach new customers looking to start a fitness well while also maintaining previous customers.

Hold Discount Promotions

Providing people with discounts or free trials of the great personal trainer service will encourage people to try the service and come back for more.

Sponsor Local Events

Sponsoring events such as charity races will create a positive brand association and reach target customers.

Pandora "Fit Stations" Ads

Targeted ads on Pandora Radio that aim at people listening to exercise music will reach customers who are looking to be healthy.

4. Analyze Cost

  • Initial Investment: $45,000
  • Monthly Rent, Utilities, and Staff: $9,000
  • Expected Average Monthly Gross Income: $16,000
  • Estimated Time it Will Take to Start Profiting: 6.5 Months
  • Have $100+ Disposable Monthly Income

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The Core Elements to Building a Successful Business Plan

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  1. Cover Sheet

    • Business Logo
    • Company name, address, phone number
    • Name of people creating plan
    • Date of plan's creation
    • Sum up in a paragraph the two main objectives for the business
  2. Mission Statement

    • Sum up in a paragraph or two the main objectives of the business.
    • It should be concise and answer the following: Why does your business exist? What special services, skills or approaches make you stand out from your competitors? What will your business' public image be? What do you want for your customers?
  3. Marketing Overview

    • Describe target market (group of customers you sell to)
    • Illustrate present or future competition
    • Relate what edge your product has in the existing market
  4. Business Summary

    • Include essential background information and structure of business.
    • Description of Business’ Legal Entity
    • Descriptive overview of products or services offered
    • Overview of business assets and future projections
    • Any specifications in regards to the business location
    • Other miscellaneous facets of business:
      • record-keeping
      • security
      • insurance
  5. Marketing Strategy

    • Describe the marketing campaign that will be undertaken.
      • Include market entry plan (if a new company)
      • Role of location in marketing methods
      • Pricing strategy
    • Plan for distributing products/services.
    • Provide a summary of industry trends and advanced planning through a SWOT analysis.
  6. Management Structure

    • Description of how the company is organized
      • What are the job titles?
      • What are the responsibilities of each position?
      • The people chosen for relevant positions (if applicable)
  7. Financial Overview

    • Sum up your business' financial requirements.
    • Provide a statement describing your funding sources and how you intend to apply said funds.
    • Describe your budget.
    • Provide a three-year income projection and a break-even analysis graph.
    • Provide statements reflecting past performance.
    • Provide a balance sheet with a summary conclusion section
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