Develop a Fitness Business
A fitness business is a business centered around providing personal training, fitness instruction, or the use of a fitness facility to those interested in pursuing their own fitness goals. You do not have to be a fitness guru to start a business in fitness, but an interest in fitness and/or a willingness to adopt a fitness lifestyle is an integral part of ensuring your success in the industry. Follow these steps to head towards a fitness business.
Steps
- Decide what kind of fitness industry business you want to develop. There are many choices, but here are two in detail.
- Personal training. Personal trainers work 1 on 1 with clients to create fitness plans specific to their clients' needs. The trainer then coaches the client through strength training, cardio routines, or anything else listed in their plan to help them get the most out of workouts. As a personal trainer, you may opt to run your fitness business from your home, travel to clients' homes, or meet them at a fitness center. This is a great choice if you are patient and enjoy working close to people.
- Fitness instruction. Fitness instructors guide groups through a variety of classes, including aerobics, yoga, kickboxing, step and strength training. If this is your desired approach, choose one or more classes you are comfortable with. To start a business in fitness instruction, you must have a facility where you can teach your group classes.
- Get the necessary training. If you want to be a personal trainer or a fitness instructor, you must first have a Certified Personal Trainer (CPT) designation from an accredited program such as the National Strength and Conditioning Association (NSCA) or the National Academy of Sports Medicine (NASM). Additionally, no matter which aspect of the fitness business you plan on going into, you should learn as much as you can about owning and operating a business.
- Develop a fitness business plan. This will serve as your guide for how to want to start and run your business, and should cover the following topics:
- Company name. Choose something creative, but to the point. Also, if your name is easy to remember, it will be easier to establish, maintain, and grow you client base.
- Business goals. This is to encompass both the purpose and mission of your business, and also the financial aspects of what you want your business to accomplish.
- Industry placement. Identify your target market and where you will provide your fitness business service to them. A specific industry placement will help you gain customers.
- Marketing strategy. Assess your target market for the area you plan on working in. Determine how you will reach out to your desired client base and what you will offer that will make them choose you over the competition.
- Pricing. Decide what you will charge customers/clients, and what type of contract or commitment you will require.
- Gym operation: If your business plan involves setting up a fitness center or gym, then you will be responsible for managing an entire facility and for hiring personal trainers and fitness instructors.
- Budget. Do a thorough breakdown of what you anticipate your startup costs, marketing fees and monthly expenses to be. Then do a projected income analysis, listing what you expect to bring in when you first start and what you expect it to bring in over time. Be thorough, including short-term and long-term financial goals and a plan for reaching those goals.
- Obtain the necessary licensing from your business regulatory department.
- Start your business, using your fitness business plan as a guide. Establish the following:
- Facility. Find a location you will operate your business out of, or decide if you want to travel to locations of the clients' choosing (if applicable).
- Business operations. Have an accounting system in place, as well as a management plan.
- Personnel. Hire any staff you might need to run your fitness business.
- Clientele. Market your business in order to develop a customer base.
- A business in fitness can not only make you some money, but can be a great way to stay in shape and help others to as well.
Tips
- Increase your fitness business revenue by selling fitness products such as nutritional supplements, gym equipment and/or workout wear to your customers.
Related Articles
- Set Financial Goals
- Develop a Financial Goal
- Write a Business Plan
- Start a Personal Training Business
- Hire a Fitness Business Coach
