business plan for personal trainer

Create a Personal Trainer Business Plan in Six Steps

My personal training career began, as so many do, at a big box gym.

I worked my way up to management, then regional management, and eventually struck out on my own. Soon I opened a small gym, which progressively grew into a bigger gym over the next six years.

A natural evolution maybe, but no accident. It happened because I had a plan.

A business plan helps you stay focused. It puts you in control, leading you where you want to go, so you’ll end up happier and wealthier.

Yet lots of trainers don’t think to make one, or assume they don’t need one. You do. Taking the time to carefully craft a business plan can give you an edge, regardless of where you are in your career.

To help you get started, I’ve outlined a personal trainer business plan template with six basic steps:

Step 1: Write your mission statement

Step 2: assess the fitness industry and your competition, step 3: map out your revenue streams, step 4: plan for operating costs, step 5: create your sales and marketing plan, step 6: honestly assess your risk.

We’ll hit each of those in a moment, and share a downloadable worksheet for you to craft your own business plan. But first, you probably have a few questions.

What is a personal trainer business plan?

A personal trainer business plan is a written description of your business’s future. Think of it as your North Star. It will help guide every aspect of your business: services, products, people, location, competition, costs, and income.

Who needs a personal trainer business plan?

Anyone who makes a living as a personal trainer. Don’t wait until you’re self-employed. It’s never too early to think about your future trajectory, even if you’re still a gym employee.

What is a personal trainer business plan used for?

A business plan articulates what you do and why you’re doing it. Having it in writing helps you stay focused.

But depending on your needs and goals, you might also use it to impress potential investors, attract employees or customers, or deal with suppliers.

How long should a personal trainer business plan be?

A typical plan is about 10 to 20 pages, but there’s a lot of room for variation. It can be as simple as a few notes on the back of an envelope, or as complex as 50 pages with detailed projections and analysis.

What’s the purpose of your plan? If you’re trying to score financing, err on the longer side. But if it’s just for you, make it as brief or detailed as you like.

How do you start?

Easy: Just write. Tailor the language to your prospective audience. If you’re writing the plan for yourself, make it as casual as a conversation with a friend. If you’re writing it for a bank or private investor, be more formal. If it’s for clients, be professional, avoiding jargon or slang.

I remember agonizing over my first business plan, making a million revisions. I felt stuck because, as hard as I tried, my plan wasn’t perfect yet.

Then I realized something: Perfection isn’t possible, and you can’t let the pursuit of it keep you from moving forward.

The goal is to think about your personal training business in a more mature way. As you move through your career, stretching your abilities and learning from mistakes, you’ll gain the perspective you need to refine it.

Put another way, as you get better, your plan will too.

Personal trainer business plan template

This is two or three sentences explaining what your company aims to do, and why: “I help THIS group of people do X, Y, and Z. And this is why I do it.”

Don’t skip the second part. Clarifying why you do what you do is essential for setting your business apart. It starts with two things:

• Your core values
• Your training philosophy

Core values are your personal beliefs: who you are, and what you stand for. Your training philosophy is what you believe about training.

Why is training people important to you? Why is the demographic you work with important? What are the two or three most important things you believe about training that are nonnegotiable?

If you can answer those questions, you’ll have a much easier time conveying your value to others, and creating a coaching avatar that helps people connect with you.

READ ALSO:   How to Get More Personal Training Clients

Before you can figure out where you fit in in the fitness industry, you first need to know what that industry looks like. That takes research into the two most relevant market tiers for fitness pros:

To understand what’s happening locally, hop online and look up all the gyms and fitness facilities in your area. Visit a few. Talk to the locals, and pick their brains about what they’re interested in and why they chose their current gym. Gauge sample size.

For a national perspective, you could turn to Google.

Now think about where you fit in, both locally and nationally. What gap do you fill? What do you offer that someone needs but no one else provides? An honest assessment of your strengths and weaknesses will help you find those answers.

Finally, determine your biggest threat. Think you don’t have competition? You do. Look at it this way: In the absence of your product or service, how do people fill that void? Where do they go? What do they buy? That’s your competition.

This one is simple. Just answer one question: How are you going to deliver your service? Will you train clients one-on-one, and also lead a group class a couple times a week? Or will you do small-group training at your gym, and supplement your income with online training ?

Start with only one or two income sources, and see how they work (or don’t work). Maybe you’ll find that one (like online training) generates enough revenue for you to focus on it exclusively. Maybe you’ll find that another (like teaching group classes at 6 a.m.) doesn’t pay well enough for you to continue. Maybe you’ll have so much success with one demographic or style of training that you’ll decide to create and sell a product related to it.

But don’t feel you have  to add revenue streams. Some of the most successful businesses in the world offer only one or two products. A sharp focus lets you excel at one thing. Sometimes that’s better than being kinda good at several.

READ ALSO:   Avoid These Mistakes When Building an Online Training Business

Jot down all the expenses you need to run your business: rent, equipment, insurance, software, business license, and any administrative fees. Add it all up, and you get your operating costs, the minimum income you need to exist. Keep in mind that some percentage of that income will go to taxes .

Now tackle revenue projections. Make a high-low chart, with one column for worst-case scenario, and another for best-case.

Your best-case scenario is what would happen if you absolutely crushed it, and kept a full book of paying clients all year. Your worst-case is the opposite, the least amount you would make if things don’t go according to plan.

Comfortable with those numbers? If not, rejigger the plan until you are.

READ ALSO:   How Your “Freedom Number” Can Give You the Opportunity to Fail

At Fitness Revolution  (where I work), we have something called the Triple-A Marketing Method : Assets, Arsenal, Action plan. Here’s how it works.

• Start with your assets—your skills, talents, and strengths. Maybe you’re really good at videos, or you’re great face to face.
• Now determine your arsenal, the tools you’ll use to deploy those skills. If videos are your thing, social media might be the way you share them. If talking to people is your strength, focus on networking.
• Finally, create an action plan, taking care to define exactly how often you’ll deploy those resources. Maybe you’ll post a new video every week, or attend a networking event once a month.

Over time, you’ll refine this section as you figure out what works and what doesn’t. But this is a good start.

There’s a reason why, in Step 4, I had you draw up a worst-case scenario alongside your sunniest projection. Too many personal trainers are overly optimistic, and write up business plans that assume things will always be awesome.

The problem with projecting 365 days of sunshine is that you’ll be blinded by the imagined glare. You won’t be ready for the bootcamps that get rained out, the clients who move on, the rent that goes up, or the car that breaks down.

Try pretending it’s your friend’s business plan. What would you say to that friend? Even better: Seek feedback from a fitness industry mentor or someone whose business advice you value. A neutral expert can give you much-needed perspective on the realities of running a business in an often-unpredictable world.

That brings us to risk. How much risk is written into your plan, and how much can you tolerate?

If you’re just starting out, your risk tolerance is probably pretty high, simply because you have less to lose. You could also pivot and try something else if your plan doesn’t work out.

But as your business grows, and you have more people who depend on you, the decisions will be harder, and your appetite for risk will probably drop.

Ready to get started? Click here to download our free Personal Trainer Business Plan worksheet.

What happens now?

A business plan is never complete. Even if you never need a detailed, professional version for investors, and you’re the only one who ever sees it, it’s still something you revisit as needed.

Every time your business shifts direction, your financial outlook changes, or you launch a new product, you’ll need to revisit your business plan.

But you don’t have to wait for a major change. Even a successful plan will eventually run its course, and need to be updated. If you think it’s time to revisit your plan, you’re probably right.

David Crump

David Crump is a personal trainer, industry-recognized speaker, and fitness business consultant who helps other fitness professionals grow their business. He is the training and content manager for Fitness Revolution, where he oversees continuing education and all things start-up related. He has helped open at least seven independent fitness facilities in addition to his own, which he ran for six years. You can keep up with him at his website or on Facebook .

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Personal Trainer Business Plan

If you are a personal trainer or want to become one, chances are that you’d want to start your own business at some point in your career.

Having your business gives you autonomy and lets you work with clients you’d want to work with. It also helps your day become more flexible.

A personal trainer business plan can help you work through every aspect of your business.

If you are planning to be a personal trainer, the first thing you will need is a business plan. Use our sample personal trainer business plan created using Upmetrics business plan software to start writing your business plan in no time.

Before you start writing your business plan, spend as much time as you can reading through some examples of the gym and fitness-related business plans .

Industry Overview

The personal trainer industry stood at a market size of 12.9 billion dollars in 2021 and isn’t about to slow down any time soon.

The increase in demand for personal trainers is due to the increasing number of people who prefer to work out at home.

Also, with the pandemic and social distancing norms, people working out at home with personal trainers has only increased.

And although it might seem relatively simple to start working as a trainer, you need to keep multiple things in mind to have a stable source of income.

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Things to Consider Before Writing a Personal Trainer Business Plan

Do your research.

Research is an extremely important aspect of starting any business. It helps you understand what you are getting yourself into. It helps you understand every aspect of your data better and make better strategic decisions as per the same.

Hence, conducting market research before getting started is important.

Know your target market

Knowing what your customers want , who they are, what influences their decision, how they do they avail services, and even what social media sites they use the most is important to serve your target audience better.

Hence, try to know as much as possible before getting started. It helps you have an edge over everyone else.

Decide upon a business structure

You could either set up a facility or start providing services at your client’s home, but having a business structure is essential. Your business structure would decide the amount you pay in taxes, the paperwork you’ll have to do, as well as the liability on your personal assets.

Look into all options you have and pick the structure that fits your business needs the best.

Pick the type of services you’ll provide

You can either provide services from a facility, at home, or even through online mediums now. Consider what fits your client’s and business needs the best before picking the type of your services.

Each type of service has its pros and cons. Hence, it is important to consider what type of services you should go for before getting started.

Write Your Business Plan

Having a business is in no way a cakewalk. From managing your finances to promoting your services you’ll need a plan for everything.

Reading some sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.

We have created this personal trainer business plan example for you to get a good idea about how a perfect personal trainer business should look like and what details you will need to include in your stunning business plan.

Personal Trainer Business Plan Outline

This is the standard personal trainer business plan outline which will cover all important sections that you should include in your business plan.

• Market Validation
• Short-Term (1 -3 Years)
• Long Term (3-5 years)
• Mission statement
• Keys to success
• Fitjets – 3-Year Financial Highlights
• Company Ownership/Legal Entity
• Interior Operating Facilities
• Hours of Operation
• Startup summary
• Exercise Instruction and Demonstration
• Fitness Consultation
• Planning & Monitoring Exercise Programs
• Planning & Monitoring Nutrition Programs
• Customer Service
• US Fitness Market Size
• Market Trends
• Online Fitness Market Trends
• Fitjets Market Distribution
• Comparison Table
• Competitive Advantage
• SWOT analysis
• Marketing and Promotion Programs
• Positioning Statement
• Marketing Channels
• Pricing strategy
• Organization chart
• Management Team
• Hiring plan
• Important Assumptions
• Brake-even Analysis
• Profit Yearly
• Gross Margin Yearly
• Projected Cash Flow
• Projected Balance Sheet
• Business Ratios

After getting started with Upmetrics , you can copy this personal trainer business plan example into your business plan and modify the required information and download your personal trainer business plan pdf or doc file. It’s the fastest and easiest way to start writing your business plan.

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Download a sample personal trainer business plan

Need help writing your business plan from scratch? Here you go;  download our free personal trainer business plan pdf  to start.

It’s a modern business plan template specifically designed for your personal trainer business. Use the example business plan as a guide for writing your own.

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Eight Steps to the Perfect Personal Trainer Business Plan

Now is a great time to become a personal trainer because the Covid-19 pandemic has made it difficult for people to visit gyms. This means that many gym-goers are now relying on personal training services to keep them fit and healthy.

However, that doesn’t mean it’s easy to start your business. As a personal trainer, you know the importance of creating a plan to help clients adhere to their fitness programs.

Well, the same is also true for your personal training business.

Using a personal trainer business plan to set goals and create a roadmap for how you will achieve them is an effective way to make sure you will be successful in the fitness industry.

In this article, we’ll look at why you need a personal training business plan, as well as the eight steps you should take to make an effective one.

Table of Contents

• 1 Why Write a Personal Training Business Plan?
• 2 Your Personal Training Business Plan Template
• 3 Step One: Write Your Executive Summary
• 4 Step Two: Analyze the Personal Training Market
• 5 Step Three: Perform a Customer Analysis
• 6 Step Four: Write Your Sales Plan
• 7 Step Five: Write Your Personal Trainer Marketing Plan
• 8 Step Six: Write Down How Your Business Will Operate
• 9 Step Seven: Your Qualifications
• 10 Step Eight: Financial Plan
• 11 Wrapping Up

Why Write a Personal Training Business Plan?

A personal training business plan is a guide you can follow to work out your unique selling points and help your business succeed.

It will also help you define the business’s revenue streams, make financial projections, identify market trends, and find out who your target market is and what your marketing strategy should be.

It will also give you an idea of the risks or challenges your business might face. For example, the competitor research section gives you an understanding of how others in the fitness industry work, which helps you to stay one step ahead.

Having a clear view of your finances will also help you make better decisions. Doing this before you get started is beneficial as it becomes harder to make these changes once you are training clients.

It is also usually necessary to write a business plan if you want to apply for funding. Banks or other potential investors will want to see you have put thought into how you will run a profitable business.

Finally, business plans aren’t just for personal trainers starting out. If you already run a personal training business, creating a plan can still be a useful tool to ensure you are heading in the right direction.

Your Personal Training Business Plan Template

Your plan will include sections on market analysis, marketing sales, operations, staffing, and finance.

While this may seem like a lot, we’ve made the process manageable by breaking it down into eight easy to follow steps.

Step One: Write Your Executive Summary

Your executive summary is a quick overview of your fitness business and why you think it will be successful.

Start with your mission statement. This is a one-sentence summary of what you are trying to achieve with your personal training business.

Include what you want to help your potential customers to achieve and how you will do this. For example, will you offer one-on-one sessions, nutritional guidance or small group training?

You can use your mission statement on your website or in marketing. Even if you don’t share it publicly, it is still a useful tool to help you define your goals and keep you on track when making business decisions.

Here are some examples of personal trainer mission statements:

North West Personal training in Vancouver:

“We are passionately committed to changing people’s lives around the world by helping them adopt a more healthy and fit lifestyle so they look and feel their best.”

Bodyline Studios in the UK

“It is our aim to encourage people of all ages and abilities to get fit and improve their wellbeing by providing a well-equipped, supportive space where highly qualified and experienced health and fitness professionals can deliver their services.”

After your mission statement, your executive summary should also include:

• Your fitness value proposition: This could be body-building, weight-loss, resistance training for seniors, TRX bands, etc.
• Who your customers will be: middle-aged men looking to get back in shape, high-level athletes, millennials looking for a new way to work out.
• Where your personal trainer business will operate from: Your own personal training studio, rented space in another gym, the local park or fitness center.
• Basic pricing strategy: How much you will charge per session, costs for renting space/equipment, your marketing budget.

This section is step number one in our guide because it is the first part of a personal training business plan.

However, many people find it beneficial to complete this step after writing the rest of the document. At this point, they are usually better prepared to answer the above questions.

Step Two: Analyze the Personal Training Market

Next, you need to analyze the personal training market. This will include the local area you will operate in as well as national — or even global — trends.

Completing this section shows you understand the personal training industry and may give you ideas about how to run your fitness business more effectively.

Include information such as:

• What are the most popular types of personal training?
• Is the industry growing or shrinking?
• How has Covid-19 affected other trainers?
• Approximately how many personal trainers will you compete within your area?
• How does a self-employed personal trainer find customers on a national and local level? Will it be beneficial to become active on social media, sign up to certain forums, advertise in local media?
• Do you have a lot of competition in your niche? Is the service you plan to offer in-demand? If not, how will your marketing strategies help you stand out?
• What qualifications do the personal trainers you will be competing with have? Are there any qualifications you could get to make yourself stand out?
• How much do personal trainers in your niche charge per session? And how do your planned prices compare to those of existing trainers?

When completing this section, it’s best if you can include specific figures. Searching on Google will provide you with a lot of information you can use. Or you can speak to other people you know in the industry.

Step Three: Perform a Customer Analysis

Next, you can talk specifically about the potential clients you will target.

You should find demographic information about your local area, such as the size of the population and the percentage of people in different age groups.

You can also focus on the intrinsic motivations of your customers. Thinking about what motivates them, how they like to work out, and why they might need a personal trainer can help when it comes to the marketing and operational parts of your business plan.

Step Four: Write Your Sales Plan

In the sales plan, you can map out how you will make sales and how many you expect to make. Things you can include in this section are:

• How many sessions a day or week will you run?
• How much do you expect to charge per session?
• Will you run discounts for clients who bulk buy sessions? How about people who refer other clients to your business?
• Using the above information, how much do you expect to earn per session, day, or month?
• How will you process sales? For example, will customers pay cash in hand on the day, or will they pay when they book a session through your website or app?

When writing this section, it will help if you have an idea about your costs and industry standards. This will help you choose a price point that is competitive while being enough to keep your business profitable.

Step Five: Write Your Personal Trainer Marketing Plan

It’s all well and good having a sales plan, but you’ll need a way to get your client base to pay for your service. In the marketing plan, you can describe all the ways you will try to attract clients, as well as any costs associated with this.

Some ideas include:

• Being active on social media.
• Using referrals to encourage word-of-mouth.
• Using PPC adverts on Google.
• Advertising in your local gym or fitness centre.
• Adding your Google My Business listing.
• Advertising in local office buildings or other places where your target customers gather.

When writing your marketing plan, you should go into detail about how you will utilize the techniques you choose.

For example, if you want to get new clients through Google search queries, list the queries you will target and provide estimates for how much you expect to spend on this area of marketing.

You can read more about personal training marketing ideas here.

Step Six: Write Down How Your Business Will Operate

In the operations section of your business plan, describe how you will run your business. This will include all the things you need to do daily to provide your service.

Where possible, include specific details like exact locations, prices, and times.

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Completing this section in as much detail as possible is a good way to spot if you are missing anything before you start.

In this section include:

• How many sessions you will run every day and when you will run them.
• Where you will run the sessions.
• How you will gain access to the locations you need to run the sessions and how much this will cost.
• The steps you will take to measure the progress of clients.
• When you will take care of other aspects of your business, like marketing, accounting, etc.
• Do you need to provide anything for clients (water, etc.). If so, how will you source this?
• How will you process client payments?
• How will you process and organize bookings?
• Anything else you think is important to the running of your personal training business.
• Do you need to hire any extra staff? If so, how will you manage them?
• Do you need any qualifications or certificates before you can start your business?

One tool that can help streamline your personal training business is your own app .

By asking customers to download an app, you make it easy for them to book and pay for sessions on the go. You can also add helpful content such as videos, blog posts, or social media links that can help your customers achieve their fitness goals.

Click here to find out how you can easily create an app for your personal training business.

Step Seven: Your Qualifications

Write down what makes you suitable to be a personal trainer. Include your qualifications and experience in the industry. If you are going into business with anyone else, you can include information about their suitability for the role.

Step Eight: Financial Plan

The final step is to check the financial viability of your plan. In this section you should include:

• Startup costs: What do you need to pay for before going into business?
• Operating costs: How much will you spend to run your business? This can include rental costs, replacing equipment, costs associated with software to help you run your business, costs of hiring staff, marking costs, etc.
• Expected revenue: Here you can write down how much you expect your business to earn every day, week, month, year, etc.
• Break-even analysis: If you have high startup or operating costs (for example if you rent a space to run your business from) this section will show you how long it should take before you start making a profit.

This section will show you what you need to do to stay financially viable as a business. It will show you if your business model is realistic or if you need to make adjustments to prices or costs to hit your earning goals.

Wrapping Up

Now you’ve finished your business plan you can begin to take steps to put it into action. If you noticed there are areas of weakness in your business, now is the time to make changes to strengthen your position.

If you want further information about starting your business, check out these articles on writing a business proposal in 2020 , and writing an effective small business marketing plan .

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Personal Training Business Plan Template

Written by Dave Lavinsky

Personal Training Business Plan

Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their personal training companies. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a personal training business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is a Personal Training Business Plan?

A business plan provides a snapshot of your personal training business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a Personal Training Business

If you’re looking to start a personal training business or grow your existing personal training company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your personal training business to improve your chances of success. Your personal trainer business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Personal Training Businesses

With regards to funding, the main sources of funding for a personal training business are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for personal training companies.

Finish Your Business Plan Today!

How to write a business plan for a personal training business.

If you want to start a personal training business or expand your current one, you need a business plan. The business plan outline below details the necessary information for how to write each essential component of your personal training business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of personal training business you are running and the status. For example, are you a startup, do you have a personal training business that you would like to grow, or are you operating a chain of personal training businesses?

Next, provide an overview of each of the subsequent sections of your plan.

• Give a brief overview of the personal training industry.
• Discuss the type of personal training business you are operating.
• Detail your direct competitors. Give an overview of your target customers.
• Provide a snapshot of your marketing strategy. Identify the key members of your team.
• Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of personal training business you are operating.

For example, you might specialize in one of the following types of personal training businesses:

• Mobile personal trainer: This type of business involves traveling to the client’s home, a park, or another location that is convenient for the client to provide personal training sessions.
• In-home personal trainer: This type of business is operated out of the trainer’s own home. This type of business may be great for trainers that have their own equipment.
• Online personal trainer: This type of business involves providing training one-on-one or group sessions online live or via pre-recorded webinars.
• Gym trainer: This type of personal training business operates out of a gym that allows the trainer to work with their own clients at the gym.

In addition to explaining the type of personal training business you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of clients served, the number of sessions provided with positive outcomes, reaching $X amount in revenue, etc.
• Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the personal training industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the personal training industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.

The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your personal trainer business plan:

• How big is the personal training industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential target market for your personal training business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your personal trainer business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, schools, families, and corporations.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of personal training business you operate. Clearly, individuals would respond to different marketing promotions than corporations, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.

With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other personal training businesses.

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes other types of trainers, coaches, gyms, and fitness programs. You need to mention such competition as well.

For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

• What types of customers do they serve?
• What type of personal training business are they?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you make it easier for clients to acquire your services?
• Will you offer products or services that your competition doesn’t?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a personal training business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type of personal training company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide lifestyle training, boot camps, or performance training services?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the products and/or services you offer and their prices.

Place : Place refers to the site of your personal training company. Document where your company is situated and mention how the site will impact your success. For example, is your personal training business located in a busy retail district, a business district, a standalone gym, or purely online? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your personal training marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

• Advertise in local papers, radio stations and/or magazines
• Reach out to websites
• Distribute flyers
• Engage in email marketing
• Advertise on social media platforms
• Improve the SEO (search engine optimization) on your website for targeted keywords

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your personal training business, including answering calls, planning and providing training sessions, billing customers and collecting payments, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to book your Xth session, or when you hope to reach $X in revenue. It could also be when you expect to expand your personal training business to a new city.

Management Team

To demonstrate your personal training business’ potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing personal training businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a personal training business or successfully running a small fitness class.

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you see 5 clients per day, and/or offer group training sessions? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your personal training business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a personal training business:

• Cost of equipment and supplies
• Payroll or salaries paid to staff
• Business insurance
• Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your gym location lease or testimonials from happy customers.

  Summary Writing a business plan for your personal training business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will understand the personal training industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful personal training business.  

Personal Training Business Plan FAQs

What is the easiest way to complete my personal training business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your personal training business plan.

Where Can I Download a Personal Trainer Business Plan PDF?

You can download our Personal Trainer business plan PDF  here. This is a business plan template you can use in PDF format.

How Do You Start a Personal Training Business?

Starting a personal training business is easy with these 14 steps:

• Choose the Name for Your Personal Training Business
• Create Your Personal Training Business Plan
• Choose the Legal Structure for Your Personal Training Business
• Secure Startup Funding for Your Personal Training Business (If Needed)
• Secure a Location for Your Business
• Register Your Personal Training Business with the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Insurance for Your Personal Training Business
• Buy or Lease the Right Personal Training Business Equipment
• Develop Your Personal Training Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your Personal Training Business
• Open for Business

  OR, Let Us Develop Your Plan For You Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to see how a Growthink business planning advisor can create your business plan for you.   Other Helpful Business Plan Articles & Templates

7 Simple Steps for Writing a Personal Trainer Business Plan (with Templates)

• Last Updated: 25th November 2022
• Personal Training Resources
• Editors: Harry Griffiths
• Verified By: Abbie Watkins

If you’re just starting on your own as a PT, writing a personal trainer business plan is one of the most important first steps you’ll have to take.

In this article we’ll cover:

Why Do I Need a Personal Training Business Plan?

Step 1: write your personal trainer business plan summary.

• Step 2: Detail Your Qualifications on Your PT Business Plan
• Step 3: Pinpoint What You Sell When Writing a Personal Trainer Business Plan

Step 4: Perform a SWOT Analysis as Part of Your Personal Training Business Plan

• Step 5: Outline Your Marketing Strategies in Your PT Business Plan
• Step 6: Include Your Financial Plans & Projections in a Personal Trainer Business Plan
• Step 7: Conclude Your Personal Training Business Plan with a Closing Statement

Before you start with your PT business plan, there’s one thing you should always factor in, and that’s professional development.

With  our Level 4 Sports Nutrition Course , you’re able to set yourself apart from the competition and ensure your business can thrive in a competitive industry.  Download our free course prospectus to find out more !

EXPERT ADVICE ON BOOSTING YOUR PT INCOME

12 ways you can boost your pt income.

Before we look in detail at the process of writing a personal trainer business plan, it’s vital to understand why you should produce one. 

In short, a personal trainer business plan acts as the guide for where your business currently is, where you aspire to be, and how you’ll get there.

As you can imagine, this is vital for establishing your business and plays an integral role in:

• How to make money as a personal trainer
• How many, and the kind of, clients you attract
• How you market yourself
• Who your competitors are, and how you’ll beat them

It’s easy to assume that you’ll be the only person who’ll see the business plan for your personal trainer business but it will play a vital role in securing external funding if that’s what you need.

You will have to show prospective investors what you plan to do with your business and outline every detail if you’re looking to secure money from a third party.

Ultimately your personal trainer business plan is an opportunity to showcase your brand and display what you’ll be contributing to the fitness industry. 

Every successful personal trainer business plan should start with a summary. This is an overview for readers and potential investors, covering:

• Who you are
• What your business offers, and your target market
• Your financial state, and projections for the future
• Your marketing strategy
• Plans for the future

Despite it seeming simple, this is one of the most crucial parts of any business plan for a personal trainer because it’s the first impression you’ll make. 

You’ll need to summarise for the reader what you’ll be covering so they’ve got a good snapshot of your business and the service you will provide.

This personal trainer business plan example from CIBT Visas, a global financial company, is a great illustration of how it should be done:

Just from this short section, we find out a few key points about CIBT, including:

• What they do
• Where they operate
• Their core values
• What they aim to achieve

This should essentially contain your personal trainer mission statement and what you intend your brand to achieve and fulfil!

Your next sections will expand on these key features, and offer a more in-depth look at what you do, and where you can take your business.

Step 2: Detail Your Qualifications on Your Personal Trainer Business Plan

Following your summary, your personal training business plan should lead into a comprehensive inventory of your qualifications and certifications.

This serves a few different purposes. For any potential investors or banks, you’re proving that you’re well-positioned to provide a service to your clients.

Each qualification is an indicator to those who want to put money into your business that you’re a professional able to bring return on their investment with trustworthy expertise.

Each one is also an example of the different areas your business could branch into in order to grow and develop. For example, any specialist Level 4 master personal trainer courses you’ve completed  show a potential for advancement .

You should include a list of qualifications as well as where they come from. This will show that you’ve completed a course with a reputable provider and allows potential investors to see your credentials.

You should list them simply, like in our own personal trainer business plan sample below:

Diploma in Personal Training - OriGym COE Level 3 Exercise Referral - OriGym COE Level 4 Advanced Sports Nutrition - OriGym COE First Aid for Sports - British Red Cross CPD in Strength and Conditioning - OriGym COE

This list offers a comprehensive overview of our example PT’s qualifications, as well as where they were achieved. 

CPD fitness courses will also help demonstrate a wide ranging skill set and areas that your business could potentially branch into! 

Step 3: Pinpoint What You Want to Sell When Writing a Personal Trainer Business Plan

Next up for your personal trainer business plan is detailing exactly what it is that you intend to sell and how you plan to cater to a particular audience and customer base.

This should be one of the most extensive sections of your business plan template. As a personal trainer you need to put trust in your services and your ability to meet other people’s fitness goals as well as those you have for your business.

This is your opportunity to detail all of your revenue streams and the different ways in which you intend to make money for your business.

This is also a way of illustrating why there’s room in the market for your business to cater to a particular demographic and offer a service that there’s a want or need for!

This may sound simple but plenty of trainers will miss out revenue streams from their personal training business plan, or don’t detail potential opportunities for expansion and selling other services or products.

Most PTs will have several revenue streams and you want to make sure you detail all of these without putting too much emphasis on the most lucrative ones.

For example, you don’t want to just detail your one-to-one training, despite it probably being your main source of income!

Some of the revenue streams you might want to include on top of this are:

• Online or face to face seminars
• Nutrition consultations
• Affiliate marketing with prominent brands such as sportswear and supplement brands
• Personal trainer tutor for a training provider
• Workout guides or ebooks
• Speaking at fitness or educational events

You also need to find your personal training target market . 

Something holistic like ‘gym goer’ is too broad and will hinder your ability to create marketing strategies and develop your business.

Expand The Services of Your PT Business!

Grow your business with our Level 4 Sports Nutrition Course, combining personal training with nutrition advice!

Your target market is the ideal customer and should be directly linked to the services you’re offering. 

You need to be able to show why you’ve chosen this demographic and how your product or service answers their specific needs.

Again, the more specific you can be the better. Some examples include:

• People with physical health conditions or impairments
• People with long term health conditions during rehabilitation 
• Women under 30 looking for postnatal classes
• Athletes looking for strength and conditioning training

We’ve written our own personal trainer business plan example for this particular section that you can use as a template:

My business offers one-to-one, bespoke, personal training sessions for women who are 40 years of age or older.  My services predominantly focus on helping women use exercise and nutrition to deal with the symptoms and stresses of menopause. My research suggests there is a huge need for a combination of services such as mine, offering nutrition and exercise programmes to help women with some of these issues. All of my qualifications uniquely equip me to work with this demographic to provide a much needed service. I offer nutrition sessions one-to-one, building recipes and selling them as a recipe guide, or working with individual clients to build bespoke nutrition plans. I also offer personal training sessions one-to-one or in groups with other women of the same age or same symptom experience.  Because of how common these issues are in this demographic there’s also a huge demand for seminars and educational sessions in partnership with women’s charities and other healthcare professionals. I provide consultancy on these issues as well as being available for talks and seminars online or in-person for various institutions.

This business plan template for a personal trainer company can be used as a jumping off point and fleshed out for your own brand!

The next thing you will need to perform for your personal trainer business plan is SWOT analysis.

Personal trainer SWOT analysis is vital for determining what you’re doing well and if there’s any sticking points, preventing your business from growing and developing as it should. 

SWOT stands for:

• Strengths - these are the elements you think makes you stand out as a PT making your business unique 
• Weaknesses - this is where you’ll reflect on any areas for improvement or development 
• Opportunities - building on the above, decide on actions that can be taken to improve your business and develop your brand
• Threats - this last step is to assess whether there’s anything stopping these actions from being taken or potential disruptions to how you might want to grow and develop your business

By performing these steps you’ll have an idea of how you can promote your USP and reinforce the other sections of your business plan, realising what gap you’re filling in the market.

You’ll also be able to identify any room for improvement and things that you can do to allow your business to grow.

This will help you by identifying exactly what your next moves are and how you can grow your business moving forward.

This will also help to show potential investors that you’re aware of the challenges your business might face and how you’re prepared to meet them and adapt your business accordingly.

This makes you seem like a more trustworthy investment and somebody who’s aware of how best to return on that investment and grow your business and income!

Step 5: Outline Your Marketing Strategies in Your Personal Trainer Business Plan

Another vital part of a business plan for any personal trainer is outlining your marketing strategies. 

This is vital for both you and any potential investors or collaborators. Here, you’ll outline the specific techniques and campaigns you will use to grow your business and gain new clients!

Showing your marketing plan will also reinforce your understanding of your target market because the particular strategies you use should be dictated by who you’re marketing to.

Identifying Your Target Market

If you’re writing a business plan to open a personal training studio , what’s the age range of your prospective clientele?

As we mentioned earlier, you need to make sure you’re as specific as possible with your target market.

The more specific you can be about the demographic the more specific you can be in targeting them, based on their behaviour and interaction with different platforms.

Using Social Media Platforms Relevant to Your Target Market

You need to make sure you’re aware of which platform is most used by your target age range. 

This is so that you can demonstrate that you understand the best way to target this specific audience with your marketing. 

If you're looking to target an older age range, you may want to get clients from Facebook , as the social media site  tends to be used by an older generation of users.

If you’re targeting young women, for example, you should target platforms such as TikTok and Instagram that are dominated by this younger demographic.

However, some platforms such as Google are frequented by everyone and are a worthy investment no matter your target market.

Using Ads on Social Media

You should also include information about any existing personal trainer marketing strategies you’ve implemented. 

This will show your progress and illustrate your understanding of including this in your SWOT analysis and your awareness of how best to reach your target market.

You can include a screenshot of any existing ads you have on social media but you also need to ensure you include details of any spending and your projected spends on future strategies.

You should also detail any spending you’ve already done for advertising and marketing efforts.

This should include the costs for the maintenance of your existing marketing strategies, as well as any projections for future ones such as getting PT referrals or affiliate marketing.

Showing the Impact of Your Marketing Strategies

You should also make sure you include figures you have about the impact of any existing strategies you have in place.

For example, you might show the reach and engagement of certain ads you’ve had on social media platforms.

This will show what’s worked already and support any request for funds if you can show how and to what end your budget for marketing has worked.

In terms of showing what you’ve already done, this might be simply including a screenshot of what you’ve already spent on your advertising and any leads or impressions generated as a result.

For example, here’s an image of the leads generated by our own Facebook ads within a month:

And here’s what it might look like to show what you’ve spent in order to generate those leads:

This will show a potential investor that your existing spends have been successful and will be considered in terms of how much you can borrow or get.

This way you’re showing that what you’ve spent already has been successful and what you need to continue to spend in order to maintain that success.

However, you may not have already done any marketing in this way. If you’ve worked in a gym chances are you have to promote your own services but you might not have been solely responsible for things like ads and email marketing. 

If you’re just starting out, and this is the case, you should just include projections based on your market research.

Make sure to focus on the aforementioned factors, including any financial projections you can make. 

This way you’re still showing you’re aware of exactly what you need to do and what you need to monitor to have a successful marketing campaign!

If you found this section helpful, you can find out more about marketing your personal trainer business with some of our other articles below:

• Strategies for Personal Trainer Lead Generation
• How to Use Google My Business as a Personal Trainer
• Personal Trainer Social Media: Ideas, Examples & Schedule

Step 6: Include Your Financial Plan and Projections in a Personal Trainer Business Plan

If you’re trying to secure money from a third party for your business, probably the most important sample of your personal trainer business plan is your financial projections.

The level of detail you include will depend on where you’re trying to secure funding from and how far into your business you are.

For example, this will look different for a personal training studio business plan than if your services are online or from home. 

It will also depend on some of the other features from our personal trainer business plan examples, such as marketing.

If you’ve only just started then your marketing costs will be projections rather than the screenshots we included in our own personal trainer business plan sample. 

You’ll need to detail not only what your expenses are or will be, but exactly how you see your business making and maintaining a steady financial flow.

No matter what your brand is, when you’re writing a personal trainer business plan you need to make sure you include the following crucial elements:

• An income statement
• A balance sheet
• A cash-flow statement

We’ll run through each of these now so you know exactly what they entail and why they’re important for any successful personal trainer business plan.

An Income Statement 

An income statement is a crucial part of any business plan template and a personal trainer business is no exception.

This is a statement that shows how much money you’ve made after your expenses and taxes are deducted from your income. 

Any business will keep this anyway for tax purposes and it can be helpful to have those numbers in front of you when you’re looking at ways to grow or streamline your business.

This is especially useful for anybody looking to invest or support your business financially because it shows your business’s profit and success.

It will also show any losses made and where they’ve come from so you can make any alterations.

This will inform and reinforce other parts of your personal trainer business plan. For example, having these figures ready will help you with your SWOT analysis.

Throughout your career you will have to complete an income statement for your business every fiscal quarter.

However, when you’re starting out, and for the purposes of the personal training business plan, you should do one every month for a year where possible.

This will also depend on your personal trainer business registration because your taxes will depend on whether you’re a sole trader or a limited company.

You should check this or use a business plan template for your personal trainer income statement.

A Balance Sheet

Your balance sheet is a calculation of what you have versus what you owe, giving a sum that shows the equity of your business. 

On one side it will list your business assets, which are things you own and could be liquidated and turned into cash. On the other side it will show liabilities, which are what you owe.

Most people will have a mixture of short and long term assets, called ‘current’ and ‘noncurrent’. 

Current assets are those which you could turn into cash within the year so either cash you currently have or accounts receivable (invoices from clients who are yet to pay).

Noncurrent assets are those which you don’t expect to liquidate in the near future.

This includes things like equipment or, if you’re writing a personal training studio business plan, you’d include property on this list too.

This is only in the list of assets if you own the property, though. If you’re renting a space or you’re paying off a mortgage, this would be in the liabilities section.

Liabilities will mostly be related to starting your business and any loans or any costs you got on finance.

Being able to show a healthy balance of these two things is a vital part of your business plan as a personal trainer because it shows the financial health of your company.

Showing that these things are well balanced will demonstrate to a bank or any potential investors that you’re a trustworthy business and will be financially stable enough to repay any money lent.

You should subtract the amount of liabilities from your assets to show the equity of your company.

A Cash Flow Statement 

Any business plan template for a personal trainer business should also include a cash flow statement. 

This is similar to an income statement but instead of just showing how much money you have after your outgoings this calculates the ‘flow’, i.e how much you have consistently coming in and out of your business.

Ideally, you want to be able to show that the flow of money is always positive, meaning you take in more money than you’re spending on expenses. 

Including this in your business plan serves a similar purpose to an income statement in regards to the SWOT analysis too.

Having these figures showing the cash flow will help you identify what’s working best to make money as a personal trainer , and where you could improve or cut back on expenses. 

The cash flow statement should show where your money is low and where there may be a surplus, meaning you have some opportunity to spend or redistribute some funds.

Having these figures will not only help you adjust your business but will also give a good indicator to investors or potential lenders of your financial stability as a business.

Step 7: Conclude Your Personal Trainer Business Plan with a Closing Statement

Last but not least, you should end your personal trainer business plan with a closing statement.

This will serve a similar purpose to your summary from step one but you can now summarise based on everything from the other sections.

This will act as a conclusion and an indication of where your business is up to and what you see as the next important steps.

This will help you to decide what you want to do with your business and the most immediate concerns and actions you need to take.

This will also act as an indicator to investors and lenders that you understand and know what to do with the data from previous sections.

If you can assess your business and read through your PT business plan to make some decisions, this reinforces your understanding of your business and your trustworthiness as a business owner!

After all, in any sample personal trainer business plan this is your opportunity to summarise your successes and illustrate that you understand how to fix any issues, and adjust accordingly.

Before You Go!

Hopefully now you’ve seen our personal trainer business plan examples, you feel ready to start writing your own!

Don’t forget you can grow your business by learning new expertise and skills and offering new services. You can do this with our  Level 4 Sports Nutrition qualification .

Find out more by getting in touch with our team today and download our course prospectus to see how else you can continue to grow your business.

Written by Jessie Florence Jones

Jessie has a 1st class honours degree in English Literature from University of Leeds and an MA in English Literature from Durham University. Naturally Jessie has a real passion for writing especially about film, culture and wellbeing. Outside of writing she loves hiking, country walks and yoga, which she has done religiously since lockdown.

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Personal trainer business plan template

After deciding to launch your personal training business, your next step is to begin writing your business plan. A business plan is an excellent tool to ke

After deciding to launch your personal training business, your next step is to begin writing your business plan. A business plan is an excellent tool to keep you organised, help you avoid mistakes both in the present and down the line, and brings together all the parts of your business to make it succeed. While you will likely make several amendments to your business plan as your business grows, having a solid document with all of your goals and the strategies you want to execute will help you successfully get your personal training business up and running.

To assist you in creating your business plan we have provided you with a template and business plan examples of everything your document should include, what information to cover in each section, and what your business plan can help you achieve. Let's get started.

What is a business plan?

First things first, a business plan is a written document, typically 10-20 pages (depending on your business and how in-depth you go) that details everything one needs to know about your business. It should define your objectives, your business goals, and how you plan to achieve them - meaning how you will grow your business and in what ways.

Essentially it is the roadmap of your business and should clearly detail and state logistics as well as marketing, financial, and operational strategies and forecasts. Although business plans are unique to every business, there is a set structure you can follow to create your own and make it understandable to anyone reading your document.

Why is a business plan important for my personal training business?

Aside from being the document that you will follow to stay on track to achieve your goals, business plans also serve several other important purposes. A well-written business plan can help you attract investments and build your credibility.

When applying for a grant or loan or any type of financial support, often time the body providing you with the funds will ask for a business plan to verify your legitimacy. Business plans can also help you analyse gaps in your business, where you need to improve, and what things you may need to revisit as your business grows.

It's not only good practice to write a business plan, but it also serves as a way to set yourself apart from your competition and show your audience and potential clients how professional you are.

If you have already launched your business without a business plan, don't worry, there is still time to make one. Using our template you can create a strong plan that will establish your business and set you up for success.

The fine details: what to include in your business plan

Although you might be thinking right now, that writing a business plan will be boring, challenging, and that other PT businesses in your area probably already cover a lot of what you will include in your plan, you'd find it interesting to know that business plans are usually never identical because no two businesses are exactly the same, even if it might seem that way. This is why being as specific as possible and clearly detailing what your business is, what it offers, and to who is extremely important. In your business plan you must include the following topics:

• Executive summary

Mission statement

Industry analysis, competitor analysis, customer analysis.

• Marketing plan and analysis

Products and services

Financial plan, facility and location, management team.

These fundamental elements will help shape your plan and provide the exact details and strategies to start your personal training business off on the right track. While you might not have certain elements yet or are still considering whether or not to include certain elements in your personal training business for example a management team or purchase of your own facility, that's no problem. Including details such as your hopes and ideas for your business in the future or why your business will not cover certain areas should still be mentioned in your business plan. This will help give readers a big picture idea of your business and the possibilities for future growth and expansion.

Executive Summary

The first section of your business plan is your executive summary, or a synopsis of your business plan and what the reader of your plan can expect to learn from reading it. Your executive summary should have at least two to three sentences on each of the topics in your business plan, with a clear statement about your financial projections, who your ideal client is, and what you plan to achieve.

A great executive summary will hook your readers and motivate them to continue reading. A poorly executed executive summary will discourage the reader from reading more and leave a poor first impression of your business. Your executive summary should tie together all the following points you will cover in your entire plan and it must be concise and straightforward.

One of the first things an investor or reader of your business plan will look for in your executive summary is your mission statement. The purpose of a mission statement is to state your business's values, what you will achieve, and how you will achieve it. No matter whether you are launching your fitness business as a sole owner or plan to grow an entire company, having a mission statement that is very clear and sharp will let your audience know exactly what your business is all about.

For example, TeamUp's mission statement is:

We empower fitness businesses and their customers by providing the best management software for fitness studios, boxes, and gyms.

Don't worry too much about having the perfect language. The important part is to make sure your reader understands exactly who you serve and how you intend to meet their needs.

The industry analysis section of your business plan explains the positive relativity your new business has to other similar products and services in your industry. In this section, you will give a brief overview of the fitness industry, specifically the personal training industry with a brief history and why this industry exists. You can expand this section with popular trends, common needs in this industry, and how your personal training business would stand out. Use factual data and industry research to support your position and take this opportunity to show you really know what you're talking about as a new business owner entering a very popular sector.

In the competitor analysis, you will provide a more concrete explanation of how your business will differ from other competitors in your marketplace. You should use data and research you have done on your competitors to make factual statements, rather than assumptions, even though you might not know exactly what your competitors are doing differently. You should list out some immediate competitors in your area, their strengths and weaknesses and how you compare, what your business's role will be in the immediate marketplace, and give concrete examples of what you will do differently.

The customer analysis section of your business plan covers who your ideal client is and why your services cover their needs. Being specific in their identification, their demographic, where they are located, and how they spend their disposable income, will help you learn who your ideal client is and how you can attract their business. You should use similar traits and behaviours to describe why that type of person is your ideal client and why your type of service is the best fit for their needs. You can use your details to create realistic profiles for various ideal clients so that investors and your readers can get a great sense of who the exact person you will target is.  

Marketing strategy and sales forecast

In the marketing plan and sales forecast section, you will address how you will attract clients and clients to your personal training business. You will detail your strategies to enter the market and how you intend to grow and target clients to join your business. Your marketing strategy and plan will evolve over time and you will need to update them whenever you are emerging or entering into new markets. But in your initial plan, you should describe what you will do to earn your first clients, how you will communicate, market, and advertise your services, and who your clients would be.

In this section you should also use market trends and data to support how doing those strategies and methods will earn your clients and what your forecasted earnings will be once you have these clients, going as far as to forecast the next five to ten years.

The products and services section of your business plan is where you will describe what you are offering as a personal trainer and personal training business and why. Are you providing small group training , private one to one appointments , plan on teaching group classes, or a combination of all the above? When you know what services you intend to offer you need to clearly explain what they entail and how they are a benefit to your clients.

If you sell any additional merchandise or programming, you need to be specific as to why that is important to your business and offering. If are interested in offering products or services for example online classes and online one-on-one personal training services, nutrition programs, or on-demand content , you should make mention of these in this section and your plan for including these services and products in your offering.

In this section, you should also discuss how you plan to deliver these services to your clients. Will you focus primarily in-person, online, or both? Will you invest in personal training software to provide your clients with an easy to use booking and membership experience? These details help your reader and potential investors understand the customer experience you plan to execute beyond the product or service itself.

Your financial plan is one of the most important parts of your business plan. It is in this section that you will detail how much you expect to both charge and earn for your services as a business and personal trainer. You will also identify how much you intend to spend, if you receive funding what you intend to spend it on for example coaching salaries and perhaps, personal training software , how much you expect to make, and why potential investors should invest in your business. Your financial plan will give both you and the readers of your business plan an expectation and forecast of your profitability both in the present and in the future. Include your budget and what additional costs related to marketing, operations, development and expenditures you foresee your business having.

The facility and location section of your business plan is where you will state where your business will operate. Do you want to open your own gym or studio or rent space from an existing facility or run your training outdoors? Knowing the exact location or type of location where you will run your business is a very important part of 1, assessing your risk and how much insurance you will need and 2, assessing the cost you will incur from rent or a mortgage.

Being as specific in this as possible for the first and second-year stages of your business will help you readers and potential investors understand how you will grow in a specific area or region. Even if you plan to run your business online, taking into account where you will run your online training from and the very specific locations where your clients will be able to train with you is necessary information to include in this section.

The management team section of your business plan is where you will discuss any team members or staff you plan to have when starting a personal training business. Even if you plan to start your business as the only management team member, you can include any plans you have to grow your team in the future or plans to remain a sole trader. You should include fine details such as salary amount, how you will pay and train staff, and how each member of your team or staff will operate, meaning what role they would fulfil, for example, three coaches, one finance manager, one receptionist.

If you are running your personal training business online, you could also include where your management team members might be located or where you plan to have them located if you plan to recruit from a specific area or region.

Start your personal training business plan

While starting your personal training business and writing your business plan might seem like a challenge now, you have all the tools and resources you need to be successful. The rewards for your professionalism, preparedness, and entry into the fitness market will be much greater when you have taken the proper steps to launch your business the right way with a detailed, informed, and solid plan to guide you.

How profitable is a personal training business?

The average amount an entry-level PT can expect to make is $16.70 per hour which equates to about $34,000 per year. But the average income for trainers as a whole is closer to $42,000 per year, with the top 10 percent making in excess of $76,000.

How much do you need to start up a personal training business?

Start-up costs for personal training businesses vary from business to business, but they don't have to start off steep. Getting certified can cost anywhere between $500—$2000. Investing in liability insurance should cost between $200—$300 per year, and factoring in about $1,000 for an initial marketing strategy is also sensible. Should you decide to invest in your own space, rented or owned, that depends entirely on your location and the size of the space you want. If you need assistance earning funds to start your personal training business, check out our guide on applying for business grants for personal trainers .

Once your business plan is written and you're ready to take the next steps towards launching your personal training business, start by signing up for our free trial .

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Personal Training Business Plan With Examples & Templates

Published by caroline @ wellness creative co on 14 june 2023 14 june 2023.

Writing a personal training business plan can seem a bit daunting. Most PTs love fitness and programming but aren’t so keen on the admin side. The good news is it doesn’t have to be difficult – with the right guidance and some practical examples to follow, it’s actually pretty easy.

In this article – learn how to write a personal training business plan in 7 simple steps (with samples, templates, and a downloadable checklist).

• Why write a business plan?
• 7 key elements
• Templates & examples
• Downloadable PDF checklist

We’re a team of qualified personal trainers and fitness coaches with 15+ years of industry experience , so we know first-hand what works (and what doesn’t!). We’ve trained other fitness professionals in sales, marketing, and business growth, so our strategies are tried and tested.

Why Write a Business Plan?

If you want your personal training business to be successful , then it’s vital to have a plan. It’ll help you secure investor funding or a business loan , which many PTs require in order to get off the ground.

But even if you don’t need the start-up finances, writing a plan makes you more likely to succeed. In fact, research shows that business plans double your chance of success . So, it’s really a no-brainer if you’re serious about being successful.

Here are a few of the reasons why creating a business plan is important…

• It crystallizes abstract thoughts and ideas into something tangible
• Helps you communicate your business concept in a way others will understand easily
• Required to secure funding from investors and banks
• Provides a structured plan to work through
• Helps you decide which areas to spend money on and where not to invest
• Ensures you understand what you’re letting yourself in for in terms of money, time, and effort

Whether you want to go freelance, become a mobile PT, start a personal training studio, or your own gym , you’ll definitely need a plan.

What To Include In a Personal Training Business Plan

Writing a personal training business proposal might sound daunting but this 7-step guide makes it easy . It’ll walk you through the exact process to follow so you’ll have your plan completed in no time. Here’s an overview of what you need to include…

• Executive summary
• Industry and market analysis
• Business overview
• Services offered
• Sales and marketing strategy
• Financial details
• Implementation plan

Now let’s look at each of these sections in more detail…

1. Executive Summary

Get straight to the point – why should the bank or investors lend your business money? Include your mission, key financial info, and unique selling points. Although it goes at the beginning of your plan, you should prepare this section last.

2. Industry & Local Market Analysis

Demonstrate potential – show that the fitness market and personal training industry are growing and there’ll be a strong demand for your services. Include research statistics, competitor info, and relevant government initiatives.

3. Business Overview

Summarise the business – objectives, location, ownership, legal status, personnel structure, and operations.

4. Services

The fun part – describe the different services you plan to sell including the packages and pricing structure . This could be in-person PT sessions, online programs , specialist workshops, fitness products, etc.

5. Sales & Marketing Strategy

How you’ll attract clients – explain your brand positioning and outline your personal training marketing plan by listing the activities you’ll do to generate revenue , attract clients , and promote your PT business .

6. Financial Information

Time to open a spreadsheet – potential investors and banks aren’t just interested in your figures. They’ll want to know how you arrived at those figures so show your calculations. Include breakdowns of profit and loss, cash-flow, breakeven figures, and the capital expenditure needed for start-up. Project 12, 36, and 60 months ahead.

7. Implementation Plan

How you’ll make it happen – provide a step-by-step list of actions you’ll take, including milestone dates.

You might also like… 50 Catchy Personal Training Business Name Ideas or How To Promote a Fitness Business .

Fitness Marketing Ideas Mini-Guide

25 fitness marketing ideas for your gym, studio, or online business. Attract new members, get more PT clients & boost your fitness blog.

Personal Trainer Business Plan Examples & Templates

Looking at a personal training business plan sample can be really helpful as it puts these sections into context. Reviewing examples will give you ideas for how to create and present your own plan.

You obviously don’t want to copy another plan since the details will be unique to your business. But the following example plans can be a useful reference for personal trainers…

• Dragon Fitness Training  produced this interesting personal trainer business plan as an academic exercise.
• Catalyst Fitness  created this CrossFit business plan with a detailed risk assessment.
• Launceston City Council created this aquatic center and health club business plan.
• The Yoga Lunch Box  offers a comprehensive yet easy-to-read fitness business template.

Creating a business plan is 100% worth the time and effort . It helps you validate demand, maximise profitability, and identify any potential pitfalls early.

This plan will be your playbook for the next 3-5 years so don’t rush the process. It’ll help you secure investor funding or a bank loan if you want to go down this route. Considering how you’ll acquire paying clients and manage cash flow now will ensure you’re well-prepared for life as a fitness business owner.

You might also like… How To Grow a Personal Training Business or The Ultimate Yoga Business Planning Guide & Template .

Downloadable Checklist & More Templates

The best way to write a business plan is to work on it in bite-size chunks . Trying to get the whole thing done in one go is the quickest route to overwhelm.

So, we recommend working on one section each day. This will enable you to complete the whole thing within a week, with zero stress or hassle . To make things easy, we created a handy PDF checklist that walks you through the 7 sections.

You can download it as part of our Personal Training Business Bundle . It includes marketing plan templates, business name ideas, sales scripts, and loads more resources.

Caroline @ Wellness Creative Co

Qualified personal trainer (BSc Sports Science) & nutritionist (MSc Human Nutrition) with 15+ years of fitness & wellness marketing experience working with global brands.

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Master Your Personal Trainer Business Plan: A Step-by-Step Guide to Success

by Chris Gurunlian | Nov 24, 2023 | New Trainer Business Management | 0 comments

You’ve conquered the art of burpees mastered the science of nutrition, and your client roster is growing. But if you’re like many personal trainers, you may find that managing your burgeoning business feels like lifting a barbell with no prep—it’s heavy, unwieldy, and you’re not quite sure you’re doing it right. Don’t sweat it. Today, we’re going to fix that.

You see, a muscular physique and a roster of devoted clients are only part of the equation. The secret sauce? A robust, well-structured business plan. It’s the blueprint for your fitness empire, providing you with a strategic playbook to skyrocket your growth, from client acquisition to brand development. 

By the time you finish reading this comprehensive guide, you’ll know exactly how to create a personal trainer business plan that not only works but propels you to the top of your game.

So, tighten your laces and roll out your yoga mat. It’s time to flex those business muscles and build a personal trainer business that’s as toned, fit, and healthy as you are.

Importance of a Business Plan

Studies indicate that entrepreneurs with specific, written business plans are more likely to succeed (1) . it is attributed to the clarity of vision and structured approach that a business plan provides.

Why Planning is Paramount in the Fitness Industry

The fitness industry has more than enough competition to deem a robust business plan as essential to success. Let’s look at why that is the case.

Harness the Power of Financial Planning

First, let’s talk about money – it’s the lifeblood of your business. Without a clear financial plan, navigating the fitness industry is like embarking on a hike without a map. You might have a general sense of direction, but the likelihood of getting lost is high. 

Crafting a financial plan is your compass. It guides your spending investments and helps you track your cash flow. This way, you’ll avoid financial pitfalls and keep your business on a steady growth trajectory. Remember, a well-balanced budget is as crucial to your business as a balanced diet is to your body.

Set Goals, Score Success

Now, focus on goal setting. Just as you set fitness goals for your clients, your business needs its own set of goals. Do you want to double your client base? Expand your online presence. Perhaps introduce new services? 

Setting clear, measurable, and achievable goals gives your business a clear focus. It helps you prioritize your efforts, measure progress, and stay motivated. Think of these goals as your personal training milestones, each one a step closer to your ultimate business vision.

Market Analysis: Know Your Fitness Terrain

Finally, let’s talk about understanding your market – it’s like knowing the layout of the gym. A thorough market analysis allows you to understand your competition, identify trends, and recognize the needs and preferences of your potential clients. 

Are potential clients looking for one-on-one sessions, group classes, or online coaching? Do they prefer high-intensity workouts or a more holistic wellness approach? 

By understanding your market, you can tailor your services to stand out, meet client needs more effectively, and make informed decisions about where to take your business next. Furthermore, you may find that you want to get a specialization certification to train a particular group that may be devoid of a large number of specialists in your region. Going after a particular underserved segment of the market can help catapult your business forward.

In essence, think of your business plan as your personal training program for success. It’s crafted to suit your unique business goals, strengthened by financial foresight, and informed by a deep understanding of the market you’re about to conquer. Get this plan in place, and you’re setting yourself up for a winning streak in the competitive world of fitness.

Critical Components of a Personal Trainer Business Plan

Let’s look at the key aspects you need to consider and include in your business plan. Think of this as your list to make a winning business strategy. In other words, don’t skip any of these items.

• Executive Summary

In the realm of your personal trainer business plan, think of the executive summary as your workout’s warm-up routine. It’s where you set the stage, get the blood flowing, and prepare for the main event – the detailed business plan that follows. It isn’t just any opening act; it’s the hook that grabs attention, succinctly previews what’s to come, and sets the tone for everything that follows.

Think of it like this: Imagine you’re meeting a potential client for the first time. You wouldn’t immediately plunge into an intense workout without first explaining what you plan to do and why. Similarly, your executive summary introduces your business concept, outlines your goals, and highlights why your personal training business stands out in the fitness world. In essence, it’s your value proposition.

In this summary, you’ll concisely articulate your business’s mission and vision – think of these as your fitness philosophy translated into business terms. You’ll also give an overview of your services, like customized training plans or nutrition coaching, just as you’d briefly describe a workout plan to a prospective client.

Additionally, the executive summary is where you flex your market understanding. Show that you know who your clients are, what they need, and how your services fill a gap in the market. It’s like demonstrating your understanding of different fitness levels and needs before a client commits.

Finally, give a sneak peek of your financial goals and growth plans. This aspect is like sharing the expected results of a fitness regimen, giving a clear, compelling reason to invest – in their case, time and effort, and yours, potentially, money and resources.

Remember, while the executive summary is just a part of your business plan, it’s often the most read section. Make it engaging, informative, and reflective of your passion and expertise. It is your chance to make a powerful first impression, setting the stage for the detailed strategy that follows.

2. Business Objectives

In your business objectives section, you should specify and describe your business’s short and long-term goals. You could include monthly, quarterly, and annual goals, for example.

Part of your plan needs to focus on the goals and create realistic stages and steps to ascertain them. The business objectives portion of your business plan can help you clarify your goal and vision and set a trajectory that provides a higher chance of success.

3. Market Analysis

The market analysis portion of your business plan is perhaps the most crucial. This section of the plan needs to include high-level statistics, data, and market forecasts. You should include information about your target market and about the amount and types of competition you’ll face. Engaging in research into your competition will clarify how you intend to ‘one-up’ them and showcase your business as an innovative leader in the space.

Doing research includes determining competitors’ rates and market rate analysis, and of course, it must include your pricing strategy. It would be best to base your pricing strategy upon market data so you don’t overprice yourself out of potential clients and also ensure you’re going to turn a profit.

As you delve into the depths of your regional market and target audience, you’ll likely discover new and innovative means of finding customers. Once you have an idea about your target market, answer the following questions (2) :

• Demand: Is there a desire or need for your product or service? Does the demand align with your target location or region(s) where you intend to operate?
• Market size: How many people could be interested in your service offerings?
• Economic indicators: What is the income range of your target market? What is their employment rate?
• Location: Where do your customers live, and what is your area coverage (will you operate near the customers or operate virtually)?
• Market saturation: How many similar competitors operate and are available to potential consumers? Is there a lot of competition in your niche/specialization?
• Pricing: What do potential customers pay competitors for their services? How much can/should you charge?

Answering these questions is crucial for understanding how you will craft your value proposition and how you intend to stand out as a leader in your space.

4. Marketing and Sales Strategy

At this point in your business plan, you should start to gravitate towards ideas that are suited for your situation naturally. After all the market research, you should know who you want to target, where they live, and have some ideas on how you can market them to achieve sales.

Utilizing a solid marketing strategy and sales plan can and will help your business grow. After all, if your target market has never heard of you, they won’t purchase your services.

Take the information you learned about your target market and apply your ideas to create a plan of action. Will you do content marketing , run ads, or promote yourself on social media platforms? There are an abundance of ways to reach your target audience. You need to figure out which works best for you (and what works best for your intended audience).

If you aren’t sure what to do to get started with sales strategy, consider doing further market research into how your competitors are marketing their businesses. Studies have shown that doing market research can lead to increases in both sales and customer retention (3) . Don’t make the mistake of assuming, and take the time to do your market research; you’ll be glad you did.

5. Operational Plan

At this stage, your business plan should be taking shape. However, in this particular section, you’ll identify the operational plan, that is, how your business will run its day-to-day operations.

Start by identifying scheduled events. For example, you might run classes every Monday, Wednesday, and Friday mornings from 6 AM to 10 AM. You might then work on marketing and sales. Furthermore, you might engage with other professionals with whom you have partnered.

The idea behind the operational plan is not necessarily to set out a work schedule but to define the tasks that are your ‘day-to-day’ functional requirements. You’ll want to identify if you hire team members to take on some or all of these operational tasks. 

You’ll also want to consider things like personal trainer business management software and a CRM to help you keep sales organized. If you have or will have hired staff or contractors, how will you manage them? How will you keep track? These are the sorts of things that you must identify in your operational plan. 

In essence, your operational plan should allow someone else to understand how your business operates. Think of it as a user manual for your business operations. It will help you clarify how you’ll operate your business and further add value to the company should you decide to sell it in the future.

6. Financial Projections

Lastly, your business plan needs financial projections. This section is where you build upon what you’ve started – you’ve defined your pricing, your potential market, how you’ll reach them, and what tools and processes you’ll use and need for effective operations.

You’ll want to include things like realistic revenue and growth—costs of operations and the projected profits and margins. You’ll have defined a clear and concise financial path by the time you’re done with your financial projections.

Implementing Your Business Plan

With the six steps completed, you’re on your way to making the right moves. Your business plan should have provided you with enough information to understand how you’ll get started, manage your day-to-day, and how you’ll grow. Now, all that’s left is taking action.

Business Plan Implementation

Start by defining a list of actionable items that align with your business plan and goals. You’ll want to classify them from lowest to highest importance. I like to call this my triage list of actions. 

Furthermore, you’ll find it useful to include target dates of completion for essential steps of your business plan. Then, you can create smaller action lists for each item and schedule them accordingly so you can complete your objectives within your planned timeline.

Business Plan Reviews and Updating

Many people think that once they have completed their business plan, they can just move forward and leave the plan as is. That might be fine if you’re only planning to operate your business for a week, but if you want to go long-term, then you’ll need to review and update your plan.

Over time, you’ll learn things during the course of operating your personal training business that will make you want or need to adjust your plans accordingly. For example, you might find that in your local area, partnering with local gyms is a better source of income than running group sessions on your own. Similarly, you might discover the opposite to be true.

It would be best if you had a good understanding of your market from all your market research and analysis, but the market can change over time. For example, a new ‘super gym’ might open in your area, forcing you to rethink your marketing strategy. There are countless possibilities; the best thing you can do is prepare by acknowledging that you should review your business plan as a part of your routine operations, maybe every quarter or even annually, just as long as you do it.

Leveraging Technology for Success

One point I’d like to reiterate is that modern technology makes it easier than ever to run a personal training business. In fact, there are apps such as Elite  Trainr that work as a complete end-to-end solution. With a powerful PT management app in your corner, you’ll be able to scale your business like never before.

An excellent personal training management platform like Elite Trainr should offer you some of the following tools and features:

• Client and Trainer side dashboards for professionalism and collaborative communications
• Branding (aka white-label) so you can include your business logo like a pro
• A robust workout plan builder (Elite Trainer has over 3000 GIFs to help you build out custom plans for your clients)
• Nutrition, weight loss, and other relevant goal-tracking
• Communications (that don’t make you open email or other separate apps)

Ensuring that a robust system like Elite Trainr is in your corner is a crucial part of your operational business planning. Consider Elite Trainr as a significant component of step 5 in your business plan – planning operations.

Forge Ahead: Your Blueprint for Personal Training Success

As we draw the curtains on this journey of business planning for personal trainers, remember that this plan is more than a document – it’s your roadmap to success. You’ve now equipped yourself with the knowledge to build a business as strong and resilient as the fitness regimes you design for your clients.

Start by breathing life into your business objectives, just like you breathe energy into your workout sessions. Let your market analysis guide you through the competitive landscape as a compass directs a hiker through uncharted terrains. Your marketing and sales strategy should mirror the precision and effectiveness of a well-tailored fitness routine.

In operational planning, find the rhythm and efficiency of a seamless exercise flow. Financial projections are your fitness goals set in numbers – realistic, achievable, and a testament to your business’s potential growth and stamina.

Remember, your business plan is a living entity, evolving as you stride forward. Regular reviews and updates are not just advisable; they are essential. They ensure your business remains dynamic, adaptable, and always a step ahead of the competition.

Finally, don’t overlook the power of technology, like Elite Trainr , in amplifying your business capabilities. Just as technology has revolutionized fitness, it can also transform the way you manage and grow your personal training business.

In essence, your business plan is the muscle behind your business’s strength. It’s the strategic workout routine for your entrepreneurial ambitions. So, set your goals high, keep your focus sharp, and embark on this entrepreneurial journey with confidence and determination. Your path to success as a personal trainer is not just about shaping bodies; it’s about sculpting a robust, thriving business that reflects your passion and expertise.

Additional Resources

• Is Starting a Personal Training Business Your Next Big Move? Uncover the Pros and Cons
• How to Choose the Perfect Personal Training Niche
• Unlocking Success: How to Market Yourself as a Personal Trainer
• Breaking Personal Training Imposter Syndrome: New Fitness Instructors Guide
• Earnings Unveiled: What Top Fitness Professionals Really Make

Article Sources

• Hechavarria, Diana M, Maija Renko, and Charles H Matthews. 2012. “The Nascent Entrepreneurship Hub: Goals, Entrepreneurial Self-Efficacy and Start-up Outcomes.” ResearchGate. Springer Nature. September 2012. https://www.researchgate.net/publication/227207326_The_nascent_entrepreneurship_hub_Goals_entrepreneurial_self-efficacy_and_start-up_outcomes .
• ‌“Market Research and Competitive Analysis | U.S. Small Business Administration.” 2023. Sba.gov. 2023. https://www.sba.gov/business-guide/plan-your-business/market-research-competitive-analysis .
• Wells, Jordan. 2018. “Hanover Research Report Finds Companies Using Market Research More Likely to Increase Customer Retention and Sales.” Hanover Research. December 17, 2018. https://www.hanoverresearch.com/news/press-release-2018-market-research-impact-report/?org=corporate .

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How to Create a Personal Trainer Business Plan — Your Blueprint for Success

The Architecture You Base Your PT Business On.

A successful personal training business is one that starts based on a solid business plan. It's not only the foundation of your business, it's also a tool to make sure you’re on track.

If your future plans include goals such as owning a studio and all your own equipment, growing your client base to the point that you need to hire staff, and of course, generating enough income to support your chosen lifestyle, then you must start with a business plan

Why do PTs Need a Business Plan?

Mike Tyson once said, "everyone has a plan until they get punched in the mouth." In other words, thinking about your business and how you'll react to threats and opportunities is just as important as the plan itself. When you start to put your plan together, the first thing you need to do is to clear business strategy in mind. What services will you offer? What do you hope to achieve? What are your goals? What’s the purpose of your business?

If you’re looking to borrow money to launch your business. The first thing your bank will ask to see is a comprehensive business plan with a clear vision, goals and objectives

The creation of a business plan will also ensure you analyze two critical components:

• Your Clients Who is your ideal client? What are they looking to achieve? Why will they choose you to chart their fitness journey? The better you understand your clients , the better service you'll provide them and the easier it will be to target them with your marketing strategy.
• The Competition You need a clear idea of who you're up against. Otherwise, how you can you offer things they don't? If you're going to create a working competitive advantage, you need to know who your competitors are—why they're successful, or what their failings have been.

There are many reasons you need a business plan , but to nutshell the whole concept, think of it this way; your business plan is like a road map. You can travel without one, but you risk getting lost along the way. Everything contained in your business plan will revolve around and support your strategy.

How to Write a Winning Business Plan

A comprehensive business plan requires detailed information in a clear format. This downloadable guide can help you write out a business plan that outlines your strategy, crystallize your ideas and identify priorities, saving both time and effort.

The eBook, Strategy is at the heart of your business plan , covers:

• Crunching the numbers—we walk you through a break-even service rate analysis that will tell you if your personal training business is financially feasible.
• The nuts and bolts—four key steps to your business plan:

1. A business overview, including your business structure and location 2. A detailed outline of your personal training services 3. Marketing strategy—from your competitive advantage to social media, this is how to get the marketing mix right 4. A detailed financial plan

• The actual writing—how to begin putting all your ideas together.

Are you ready to get your business plan underway? Download the guide and get it moving!

Topics: Personal Trainer , Business Tips , Personal training business

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How to Make a Personal Trainer Business Plan

Personal training can be one of the most rewarding careers an individual can pursue. You get to connect with people on a meaningful level, you positively impact their lives, and you can work in a field that you are passionate about.

However, one of the biggest difficulties that derail many careers is the inability to turn a job as a personal trainer into a financially successful career.

One important skill that personal trainers should develop is the ability to develop a business plan that allows the personal trainer to set up and run a financially successful business.

How Do You Write a Personal Training Business Plan?

A business plan is a blueprint for how to take an idea about a potential business and turn it into something real. It is often a formal document that includes the goals of a business, the methods for attaining those goals, and timelines for when those goals may be achieved.

In the context of personal training, a business plan may be focused on developing a successful gym or personal training studio, or it may be focused on building a successful private online coaching practice .

One of the best places to begin with writing a personal training business plan is to ask and answer the following four questions:

1. Who are your clients going to be?

2. What are your services going to be and how are you going to deliver them?

3. What is it going to cost to run your business?

4. How are you going to make money?

Who are your clients going to be?

One of the best places to begin is trying to define who your clients are going to be as this is often one of the biggest differentiators. For example, if you are going to try and work with professional athletes your business model is going to look very different than if you are going to try and work with senior citizens. Why would they differ? Well, consider the following:

1. Professional athletes all live in major cities.

2. Professional athletes travel a lot and will require more remote work.

3. Professional athletes are a much smaller population so scaling the business may not be viable.

4. Working with professional athletes will require a lot more equipment.

These are just a few examples but identifying your core market is the most critical first step.

What services are you providing and how are you going to deliver your services?

Once you have identified your core audience and who your clients are going to be, the next question to answer is what services are you providing and how are you going to deliver your services? Are you going to do 1-on-1 private session personal training? Are you going to do group fitness ? Are you going to do small group fitness? Are you going to follow a specific training method (e.g., Zumba, CrossFit, Barre Method, Yoga)? Answering this question will help you define the overall scope of what your business is going to provide and help you define whether you need a physical space, how big of a space you might need, what equipment will be required, and if you will need to obtain a franchise or license to operate under a specific training model. Alternatively, depending on your scope of work and practice you may be able to run your business fully online.

What is it going to cost to run your business?

Before you start to think about how much money you are going to make, you need to understand exactly what it is going to cost to even run the business. All businesses cost money to run, but some business models require more capital than others. Developing a good understanding of your operating expenses is critical to developing a successful business plan. Here are some of the major expenses you may need to think about and include in your business.

Rent is often the largest expense for any personal training business. If you are running a small private 1-on-1 studio or have a small office for private consulting you may have a small footprint and keep rent relatively low. Alternatively, you may be looking to start a large gym that teaches big group classes and requires several thousand square feet of space which can be quite expensive. It is important to not overpay for rent as it will generally be your most expensive line item.

The equipment required to run your business will also vary substantially based on your core business model. If you are looking to open a yoga and Pilates studio you may need to spend your initial capital on yoga mats, blocks, and straps and replace them every 12-18 months. The initial expense here may be minimal. Conversely, if you are looking to open a large gym that teaches group classes following CrossFit or Olympic Weightlifting, you will likely need to invest tens of thousands of dollars to outfit your facility so you can even run your classes effectively.

NASM has a course on home gym design that can provide a lot of insight on this aspect of personal training. 

Utilities also need to be included in your business plan as you will have to heat and/or cool the facility if you choose an in-person business model, as well as provide water/plumbing, have the internet to run your business systems, and other miscellaneous utilities.

Operating the business will also include expenses. What software will you use to manage your client's information and billing? How will you run payroll if you have more than yourself as an employee? What will it cost you to clean and maintain the facility? Each business model will have different operating expenses, but they need to be thought through very carefully, as unexpected operating expenses can turn a profitable business into a financial nightmare quickly.

Insurance is a non-negotiable for any thoughtful business owner, especially in the personal training profession. Accidents happen and insurance will save your business when they happen.

Marketing will be the lifeblood of driving new clients through your doors. Without marketing your business your business will not grow. There are many different avenues to market, but they will all require money. Whether you use signs, social media ads, t-shirts, flyers, email marketing, websites, etc., it is incredibly important to include marketing in your business plan.

See How to Get Personal Training Clients for more. 

How are you going to make money?

Once you have fully thought through your business and what it is going to take to run that business, it is time to start thinking about how you are going to make money. There are a lot of different ways to go about generating revenue. Here are a few examples of how you can sell services and products to clients in various types of business models.

1. Sell subscriptions: whether you are looking to open a big box gym or a private studio, you can sell monthly subscriptions to clients.

2. Sell packages: this may look like selling year-long memberships or personal training packages.

3. Sell physical products: this may look like selling branded apparel, supplements, or workout aids (e.g., belts, straps, chalk)

4. Sell educational products: this may look like selling additional courses, seminars, or workshops to your client base.

It is also important to think about how you are going to price your services and how you present that pricing to your potential clients. Are you focusing on total client volume and a low-cost option? Are you focusing on a high-value, intensive training option that is a higher-cost option? Make sure you fully think through your pricing structures and how that might affect your ability to generate revenue.

Why Do You Need a Business Plan as a PT?

Now that we have worked through the core pieces of a business plan it should become apparent as to why you need a business plan as a Personal Trainer. Running a business has a lot of complexes moving pieces and the best way to be successful is to have a goal, a plan to reach that goal, and the actionable steps to help you get to that goal. A business plan lays out all of those components. While a business plan does not guarantee that your business will be successful, it does greatly increase the odds!

What is a Lean Business Plan?

A lean business plan can be thought of in three main ways:

1. A business plan that focuses only on the most important things (e.g., focus on improving the core services instead of spending valuable resources finding the perfect logo).

2. A business plan that minimizes unnecessary overhead (e.g., do you need a 6,000 sq foot state-of-the-art facility or does a 1,500 sq foot warehouse suffice).

3. A business plan that can be easily adapted as you grow and learn as a business owner.

Ideally, your lean business plan incorporates all three aspects.

Fitness Marketing Tips for Flourishing

Marketing is a necessity for all businesses; if potential clients do not know you are there, how can you expect them to become clients? There are a million different ways to market, and each business will need different tools and messages but there are a few core concepts that hold across almost all businesses. The first is to market to where your potential clients are. If you are targeting older, wealthier individuals for private 1-on-1 training sessions, spending your time, energy, and money on TikTok or SnapChat ads is probably not going to be effective. Conversely, if you are targeting high-school athletes for basketball fitness training, that might be the perfect place to reach your audience. The second is you must have a compelling offer. If your offer (product or service) does not resonate with people then you will have a difficult time marketing, as people will not find your services interesting enough to investigate it in more detail. The third is you must sell. Marketing is about raising awareness and educating your potential client, but you must actively sell to your potential clients. That is why one of the most common lines in sales and marketing is "ABC"... Always Be Closing.

Do You Need to Take Protein Powder If You Are Serious About Fitness?

Reasons why you should become a wellness coach, brad dieter.

Brad is a trained Exercise Physiologist, Molecular Biologist, and Biostatistician. He received his B.A. from Washington State University and a Masters of Science in Biomechanics at the University of Idaho, and completed his PhD at the University of Idaho. He completed his post-doctoral fellowship in translational science at Providence Medical Research Center, Providence Sacred Heart Medical Center and Children’s Hospital where he studied how metabolism and inflammation regulate molecular mechanisms disease and was involved in discovering novel therapeutics for diabetic complications. Currently, Dr. Dieter is the Chief Scientific Advisor at Outplay Inc and Harness Biotechnologies, is co-owner of Macros Inc and is active in health technology and biotechnology. In addition, he is passionate about scientific outreach and educating the public through his role on Scientific Advisory Boards and regular writing on health, nutrition, and supplementation. Want to learn more in Brad's areas of expertise? Check out his NASM product recommendations.

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Personal Training Business Plan Template

Written by Dave Lavinsky

Personal Training Business Plan

You’ve come to the right place to create your Personal Training business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Personal Training businesses.

Below is a template to help you create each section of your Personal Training business plan.

Executive Summary

Business overview.

Empowered Fitness is a new personal training business located in Atlanta, Georgia. We are committed to helping the residents of Atlanta achieve their fitness goals by providing them personalized one-on-one and group training sessions. All workout plans designed by our trainers are personalized to each client, and utilize their strengths to help them achieve their goals. Whether our clients want to lose weight or get stronger, we will be there to help them every step of the way.

Empowered Fitness is founded and run by Joanna Teller. Joanna has been a personal trainer for several years, but is now eager to expand her business to include a larger clientele and a full staff of personal trainers. Her passion for fitness and experience in the industry will be the company’s most valuable assets.

Product Offering

Empowered Fitness helps its clients achieve their fitness goals. Clients primarily come to us when they need help with losing weight, increasing their stamina, or improving their muscle mass. We serve anyone 18 or older and provide one-on-one training as well as group sessions for groups of up to ten people.

Customer Focus

Empowered Fitness will target all men and women ages 18 – 99 who are interested in achieving and maintaining a healthy and active lifestyle. Atlanta is a very diverse city that includes people from all walks of life. This diverse demographic has numerous fitness and health goals that can be helped by hiring a personal trainer. Therefore, we expect to have a very diverse clientele that includes people from multiple demographics.

Management Team

Empowered Fitness is run by Joanna Teller. Joanna is an experienced personal trainer who has helped hundreds of clients over the past five years. Though she has had a rewarding career as a solo personal trainer, her passion for helping people inspired her to start a larger company where she can hire other personal trainers and expand her clientbase. Her experience in the industry will be a solid foundation for the company to grow and thrive on.

Success Factors

Empowered Fitness will be able to achieve success by offering the following competitive advantages:

• Staff of friendly, passionate, and knowledgeable personal trainers that can help clients achieve a multitude of health and fitness goals.
• Moderate pricing for our excellent personal training services.
• Services at our clients’ convenience. We will meet our clients anywhere they want to work out, including their gym, the park, or their home.

Financial Highlights

Empowered Fitness is seeking $250,000 in debt financing to begin operations of the business. The funding will be dedicated towards building out the office space and purchasing equipment. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, rent, and working capital. The breakout of the funding is below:

• Leasing and building out the office space: $100,000
• Equipment purchase: $50,000
• Three months of overhead expenses (payroll, rent, utilities): $50,000
• Marketing & advertising: $25,000
• Working capital: $25,000

The following graph below outlines the pro forma financial projections for Empowered Fitness.

Company Overview

Who is empowered fitness.

Empowered Fitness is a new personal training business that serves the residents of Atlanta, Georgia. We are committed to helping locals reach their fitness goals, whether that be to lose weight or increase their strength. We serve anyone ages 18 -99 and offer both one-on-one and group sessions. No matter what health goals our clients want to achieve, we will be there supporting them every step of the way.

  Empowered Fitness helps its clients by providing personalized training sessions. Clients can hire our trainers for hour-long sessions up to multiple times per week. While most clients opt for one-on-one training sessions, we also offer group sessions for up to ten people. All sessions are conducted at the client’s choice of location. We can meet our clients at their favorite gym, park, home, or other convenient location.

Empowered Fitness is run by Joanna Teller, who has considerable experience as a personal trainer. Her prior experience, expertise, and clientbase will provide the solid foundation our company needs to be successful.

Empowered Fitness’ History

After surveying the local customer base, and finding a potential office location, Joanna Teller incorporated Empowered Fitness as an S-Corporation on July 1st, 2023.

Currently, the business is being run out of Joanna’s home office, but once the lease on Empowered Fitness’ location is finalized, all operations will be run from there.

Since incorporation, the company has achieved the following milestones:

• Found a commercial space and signed Letter of Intent to lease it
• Developed the company’s name, logo, social media accounts, and website
• Determined equipment and fixture requirements
• Began recruiting key employees with previous fitness and personal training experience

Empowered Fitness’ Services

Empowered Fitness provides personal training services to the residents of Atlanta, Georgia. These sessions are primarily one-on-one, but we also provide group personal training for groups of up to ten people. We can help our clients with a variety of fitness goals including:

• Weight loss
• Increasing stamina
• Increase strength

Industry Analysis

The Personal Training industry is expected to grow to an annual revenue of $41 billion in 2023 and will grow at a CAGR of 4.6% from now until 2033. This growth is due to several factors. First, the pandemic years encouraged many people to focus on their health, with many people taking up online fitness courses and virtual personal training. Second, the industry is positively affected by the increase in per capita disposable income. Consumers with more disposable income are more likely to spend it on services that improve their health and well-being, such as personal training services. Finally, the overall trend towards health consciousness will indirectly benefit the Personal Training industry as more people will invest in services that improve their health.

During this period, demographic changes are expected to drive revenue growth for operators. Additional revenue streams are also expected to play an integral part in industry growth. In particular, as healthcare costs continue to escalate, health insurance providers may implement incentives to promote preventive health practices, such as partnering with gyms and personal training businesses. Furthermore, the number of obese individuals in the United States has increased in recent years. Consequently, to cut healthcare costs, many health insurance providers will likely attempt to lower an individual’s risk for type 2 diabetes, heart disease and high blood pressure, among other ailments. Additionally, initiatives that promote the health benefits of exercise will likely increase over the next five years, stimulating industry revenue.

Customer Analysis

Demographic profile of target market.

Customer Segmentation

Empowered Fitness will primarily target the following customer profiles:

• Individuals who want to lose weight and improve their fitness
• Physical therapy patients

Competitive Analysis

Direct and indirect competitors.

Empowered Fitness will face competition from other companies with similar business profiles. A description of each competitor company is below.

Sunshine Personal Training

Sunshine Personal Training is a personal training studio that offers personalized one-on-one training sessions. The trainers work with each client to customize a fitness and nutritional program that is designed to reach their goals. Though Sunshine’s trainers can help clients with a variety of goals, the studio primarily promotes its services to people who want to lose weight. Therefore, we expect that Sunshine Personal Training will only be a major competitor for this particular customer segment.

Atlanta Fitness

Atlanta Fitness is a multi-location personal training business that offers personalized training to athletes and fitness junkies. Each location is a fully equipped gym along with dozens of personal trainers that help each client reach their fitness goals. They primarily market to clients who are already working out regularly but just need extra help to reach their peak performance. Therefore, they will only be a competitor for a fraction of our target market, as we are willing to help anyone who has fitness goals, not just athletes.

Steve’s Personal Training Services

Established in 2018, Steve’s Personal Training Services is a small personal training operation run by Steve Miller. Steve worked as a personal trainer for several gym chains but broke off as his own separate business in 2018. Since then, he has helped hundreds of clients get in better shape and achieve their fitness goals. Steve is a popular trainer in the area and markets to the same geographic area as Empowered Fitness. However, Steve’s company is a small operation, so we expect that it will only be a minor competitor.

Competitive Advantage

Empowered Fitness will be able to offer the following advantages over their competition:

• Affordable pricing : Empowered Fitness will offer its services for a more affordable rate than the competition.
• Friendly staff : Empowered Fitness will only hire trainers that are friendly and compassionate. All of our trainers will positively encourage our clients to achieve their goals.
• Convenient services : We will meet our clients wherever they want to work out, whether that be the gym, a park, or at our client’s home.

Marketing Plan

Brand & value proposition.

Empowered Fitness will offer the unique value proposition to its clientele:

• Dedicated team of trainers.
• Affordable fees.
• Convenient hours of operation.
• Ability to meet clients wherever they want to work out.

Promotions Strategy

The promotions strategy for Empowered Fitness is as follows:

Social Media Marketing Strategy

Empowered Fitness will invest in advertising its services on social media platforms Facebook and Instagram. By using targeted social media marketing, Empowered Fitness will be able to reach the appropriate target audience of Atlanta.

Joanna will invest in two billboards strategically located at busy intersections that receive thousands of traffic daily. She will hire an advertising agency to develop the print for the billboard design.

Website/SEO Marketing Strategy

Empowered Fitness will invest in a strong SEO presence so that when someone enters “Atlanta personal trainers” or “personal trainer near me” in their Google or Bing search bar, Empowered Fitness is at the top of the list. Their website will list all of Empowered Fitness’ services, location, pricing, and contact information.

Word of Mouth

Word quickly spreads around town and once a few people work with our amazing trainers at Empowered Fitness, more and more people will want to hire our personal training services.

The pricing of Empowered Fitness will be moderate and on par with competitors so customers feel they receive value when purchasing our services.

Operations Plan

The following will be the operations plan for Empowered Fitness. Operation Functions:

• Joanna Teller will be the Owner of Empowered Fitness. She will handle the general operations of the company as well as provide personal training services to her clients. Joanna will spend the next several months hiring the following staff:
• An Administrative Assistant who will oversee all administrative aspects of running the business. This will include bookkeeping, tax payments, and payroll of the staff. They will also help with scheduling appointments and answering client questions.
• Several trainers who will provide training personal services to clients.

Milestones:

Empowered Fitness will have the following milestones completed in the next six months.

• 8/1/202X – Finalize contract to lease office space.
• 8/15/202X – Begin build-out and design of office space
• 9/1/202X – Hire advertising company to begin developing the company’s branding, logo, social media accounts, website, and billboard design.
• 9/15/202X – Order all equipment.
• 9/30/202X – Launch social media campaign and website. Billboards go up.
• 10/1/202X – Hire and train several personal trainers.
• 11/1/202X – Grand Opening of Empowered Fitness.

Empowered Fitness is run by Joanna Teller. Joanna is an experienced personal trainer who has helped hundreds of clients over the past five years. Though she has had a rewarding career as a solo personal trainer, her passion for helping people inspired her to start a larger company where she can hire more personal trainers and expand her clientbase. Her experience in the industry and expertise will be a solid foundation for the company to grow and thrive on.

Though Joanna has never run a company of her own, she has considerable experience in the industry and knows how to run the general operations of a personal training company. As the company grows, she will hire other staff to help her run aspects of the business that she is unfamiliar with.

Financial Plan

Key revenue & costs.

The revenue drivers for Empowered Fitness are the fees we will charge each client that hires our services.

The cost drivers will be the payroll for the staff, rent, utilities, cleaning supplies, and equipment. In the initial years, the company’s marketing spending will be high, as it establishes itself in the market.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and pay off the startup business loan.

• Initial number of clients per month: 20
• Average personal training fees per session: $80
• Office lease per year: $20,000

Financial Projections

Income statement.

Balance Sheet

Cash Flow Statement

Personal Training Business Plan FAQs

What is a personal training business plan.

A personal training business plan is a plan to start and/or grow your personal training business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Personal Training business plan using our Personal Training Business Plan Template here .

What are the Main Types of Personal Training Businesses? 

There are a number of different kinds of personal training businesses , some examples include: Mobile personal trainer, In-home personal trainer, Online personal trainer, and Gym trainer.

How Do You Get Funding for Your Personal Training Business Plan?

Personal Training businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Personal Training Business?

Starting a personal training business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Personal Training Business Plan - The first step in starting a business is to create a detailed personal training business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast. 

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your personal training business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your personal training business is in compliance with local laws.

3. Register Your Personal Training Business - Once you have chosen a legal structure, the next step is to register your personal training business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your personal training business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.

7. Acquire Necessary Personal Training Equipment & Supplies - In order to start your personal training business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your personal training business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Personal trainer business plan template + PDF

This guide introduces the advanced AI Business Plan Generator template, meticulously designed for entrepreneurs eager to start or expand their personal trainer business ventures. It's important to note that the names and financial forecasts mentioned in this example are solely for illustrative purposes, serving as educational tools to assist you through your business planning journey. These examples are deliberately chosen to show how you can personalize your own AI-generated Personal Trainer Business Plan, enabling you to navigate challenges and seize opportunities within the personal training industry.

For those seeking a tailored approach, we offer a downloadable 'Personal Trainer Business Plan PDF' . This document is vital for entrepreneurs committed to developing a compelling and effective strategy for launching or enhancing their personal training services. The 'AI Business Plan Generator' acts as a comprehensive guide, providing deep insights into the personal training market. It equips you with the essential tools to adeptly manage and grow your personal trainer business, leveraging the power of AI for unparalleled strategic planning.

How this personal trainer business plan sample was created

Easily craft your personalized personal trainer business plan with our AI Business Plan Generator. Just click 'Generate your business plan' and respond to a series of targeted questions about your personal training venture. Our advanced AI technology will analyze your inputs to create a business plan that aligns seamlessly with the objectives and needs of your personal training operation. This effective and straightforward method takes only 5-10 minutes, yielding a comprehensive and structured plan. Our platform provides the flexibility to modify and perfect your plan, ensuring it precisely captures your unique vision for your personal trainer business. Upon completion, your plan is ready for download, serving as a clear and detailed roadmap for initiating and growing your personal training business. Take advantage of the power of our AI business plan generator, specially tailored for personal trainer businesses, to enhance your strategic planning process.

Personal trainer business plan sample

Executive summary, business description, market research and analysis, swot analysis.

• Organizational Structure and Management Team

Products or Services

Marketing and sales strategy, operations plan, financial projections, risk analysis.

John Doe Personal Trainer, headquartered in the vibrant community of Tampa, Florida, embarks on a mission to redefine personalized fitness and nutritional guidance in the personal training industry. Established by a seasoned personal trainer with over a decade of unparalleled experience in strength, conditioning, and nutrition planning, our business is poised to cater to the evolving fitness aspirations of professionals aged 25-45. This demographic, characterized by their busy lifestyles, diverse fitness goals, and the pursuit of tailored wellness solutions, forms the cornerstone of our target market.

In a sector projected to continue its growth trajectory, with increasing awareness and expenditure on health and wellness, John Doe Personal Trainer stands out through its commitment to bespoke fitness programs. Our services are meticulously designed to meet the individual needs of our clients, encompassing weight loss programs, muscle building, endurance training, and rehabilitation exercises. We distinguish ourselves from competitors by offering one-on-one sessions that prioritize personal attention and measurable results, complemented by comprehensive nutritional planning.

Our market analysis indicates a significant growth opportunity within the Tampa area. The demand for personalized, flexible fitness solutions that align with professional schedules and specific health objectives is on the rise. In response, John Doe Personal Trainer aims to capture a considerable market share by focusing on exceptional service quality, expertise, and client satisfaction. Comparatively, Elite Fitness Co., Total Body Trainers, and Zenith Health Studio, while established, offer a broader, less personalized spectrum of services, thereby presenting John Doe Personal Trainer with a unique market niche to exploit.

At its core, our operational model is built on the principles of efficiency, client-centric service delivery, and continuous improvement. The business operates under a self-employed legal structure, allowing for fluid adaptability to market demands and ensuring a streamlined approach to service delivery. As the sole proprietor and lead trainer, John Doe exemplifies the dedication and expertise that underpins our value proposition, ensuring clients receive the highest quality of service. This operational simplicity is also a strategic asset, enabling rapid decision-making and personalized client relationships.

John Doe Personal Trainer's financial projections over the next five years reflect an optimistic yet attainable growth path. Starting with a revenue of $120,000 in the first year, we anticipate a steady increase to $300,000 by year five. These projections are supported by strategies to expand our client base, introduce new training services, and gradually increase pricing in line with enhanced service offerings. The targeted net profit margins, commencing at 25% in year one and increasing to over 40% by year five, underscore the scalability and profitability potential of our business model.

Our marketing and sales strategy centers around leveraging digital platforms, community engagement, and referral programs to build brand awareness and attract clients. The focus on digital marketing, particularly through social media and a professionally designed website, is designed to showcase our success stories and the tangible benefits of personal training with John Doe. Community initiatives and partnerships will further embed our brand within the fabric of Tampa's health and wellness scene.

In conclusion, John Doe Personal Trainer represents a compelling investment opportunity. With a solid foundation of industry expertise, a clear understanding of our target market, and a strategic approach to growth, we are well-positioned to become leaders in the personalized fitness sector in Tampa and beyond. Our commitment to quality, client satisfaction, and continuous innovation ensures that we not only meet the current demands of the market but are also poised for future successes as we expand our offering and explore new opportunities for service delivery and client engagement.

John Doe Personal Trainer is a burgeoning enterprise headquartered in the vibrant city of Tampa, Florida, a locale recognized for its health-conscious population and bustling professional lifestyle. This personal training business operates within the broad and ever-expanding fitness industry, an arena that has witnessed exponential growth due to the increasing awareness of and commitment to health and wellness across all age groups. Our business prides itself on offering bespoke fitness programs, comprehensive nutritional guidance, and personal, one-on-one training sessions. These services are specially tailored to meet the diverse needs and objectives of our clients, ranging from weight management and muscle building to endurance training and rehabilitation exercises.

The inception of John Doe Personal Trainer was driven by a profound understanding of the challenges faced by our target market—professionals aged 25-45. This demographic often struggles with balancing demanding careers, hectic lifestyles, and personal health. Recognizing this gap, our founder, a certified personal trainer with over a decade of experience in strength, conditioning, and nutrition planning, embarked on this venture. The primary aim was to establish a personal training service that not only addresses the unique fitness goals of each client but also offers the flexibility required to fit into their busy schedules. Since its establishment, John Doe Personal Trainer has steadfastly adhered to its purpose of enhancing the quality of life of our clients through personalized fitness solutions that foster physical well-being, mental resilience, and long-term health habits.

At the core of our business is our mission statement: "To empower individuals to achieve their fitness goals through personalized, innovative, and flexible training programs that integrate seamlessly into their daily lives, thereby promoting a lifelong commitment to health and wellness." This mission underpins every aspect of our operations, from program design and service delivery to client engagement and community involvement.

Legally, John Doe Personal Trainer operates as a self-employed entity, a structure that provides the agility needed to adapt to market demands and client needs quickly. This legal formality is indicative of our commitment to maintaining a personalized and client-centric business model, where the focus remains solidly on delivering quality service and achieving tangible results for our clients.

Looking towards the future, John Doe Personal Trainer is imbued with significant long-term potential. The fitness industry continues to thrive, propelled by a collective shift towards healthier living and the increasing preference for personalized fitness experiences over conventional gym memberships. Our business is uniquely positioned to leverage these trends, thanks to our emphasis on custom fitness solutions and the exceptional qualifications of our owner and lead trainer. Moreover, with plans to expand our client base, introduce innovative fitness programs, and potentially bring on board additional certified trainers, we anticipate not only meeting but exceeding our financial projections in the next 3-5 years.

In conclusion, John Doe Personal Trainer stands at the forefront of the personal training sector in Tampa, offering a service that is not just a response to the growing demand for personalized fitness but a commitment to improving lives through health and fitness. With a solid foundation built on experience, expertise, and a passion for health, and backed by a clear strategic vision for growth and expansion, our business is poised for success and ready to make a lasting impact in the lives of our clients and the broader community.

The personal training industry, valued at approximately $10 billion in the United States, has been experiencing a robust growth trajectory. With an annual growth rate of around 2.8% over the past five years, projections indicate continued expansion, fueled by an increasing awareness of health and wellness. The industry's resilience, even in challenging economic climates, underscores its potential for sustained growth, with forecasts predicting a revenue increase to $12 billion by 2025.

In the Tampa, Florida area, the target market for "John Doe Personal Trainer" encompasses professionals aged 25-45, a demographic that not only represents a significant portion of the population but also exhibits a higher disposable income and a propensity towards health and wellness spending. This segment, comprising approximately 200,000 professionals in the Tampa Bay area, represents a revenue potential of $60 million annually, assuming an average spend of $300 per month on personal training services.

Aiming for a market share target of 1% within the first five years, "John Doe Personal Trainer" seeks to tap into this lucrative market by offering specialized, customized services. This goal translates to securing a clientele base of around 2,000 individuals, a figure that aligns with our capacity and growth forecasts, and could facilitate an annual revenue stream of approximately $600,000 at full market penetration, based on our current pricing strategy.

Customer demographics within our target market skew slightly towards males (55%), with a predominant age range of 30-40 years. This cohort typically possesses a bachelor's degree or higher (70%) and enjoys an average household income of $75,000 - $100,000. Geographically, our target customers reside primarily within the urban and suburban areas of Tampa, locations that are conveniently accessible to our training facility.

Price points in the local personal training industry range from $50 to $100 per hour, with most competitors offering packages that average around $65 per session. "John Doe Personal Trainer" intends to position itself within the premium segment of this range, justifying higher rates through superior service quality, expertise, and personalized program offerings. Our pricing strategy will be tailored to attract the upper tier of our target market, aiming for an average price point of $75 per session.

Compared to key competitors such as Elite Fitness Co., Total Body Trainers, and Zenith Health Studio, "John Doe Personal Trainer" differentiates itself through a focus on customized, one-on-one sessions. While exact figures on competitors' sales volumes and market shares are proprietary, estimates suggest that Elite Fitness Co. leads with approximately 15% market share, followed closely by Total Body Trainers and Zenith Health Studio. Our strategic marketing and quality service delivery aim to capture a substantial portion of the market currently underserved by these entities.

Consumer behavior trends indicate a growing preference for personalized, flexible fitness solutions over traditional gym memberships, a shift partly attributed to recent global events that have highlighted the importance of health and adaptability. An increasing inclination towards comprehensive wellness—incorporating both physical fitness and nutrition—further supports our service offering's relevancy and demand.

Economic indicators such as rising disposable income levels and low unemployment rates in the Tampa area enhance the purchasing power of our target demographic, boosting the feasibility of our premium pricing model. However, regulatory compliance costs, including certification renewals and business licensing, remain a consideration, totaling an estimated $3,000 annually.

Initial investment requirements for "John Doe Personal Trainer" encompass equipment purchase, facility leasing, and marketing efforts, estimated at $50,000. Ongoing operational expenses, including facility maintenance, employee salaries, and marketing, are projected at $10,000 monthly. While the market entry barriers are moderate, our strategic location, specialized service offering, and targeted marketing efforts position us favorably for market entry and growth.

Organizational Structure and Management

At John Doe Personal Trainer, the organizational structure is built to support our mission of delivering personalized fitness and nutritional guidance tailored to meet individual client needs. As a self-employed entity based in Tampa, Florida, the business’s hierarchy is streamlined, focusing on efficiency, client satisfaction, and scalability. The structure is horizontally integrated, emphasizing flexibility and direct communication channels. At the core of this structure is the Owner and Lead Trainer, who oversees all aspects of the business operations, from client training to marketing and financial management. As we grow, this structure will evolve to incorporate new roles and responsibilities, ensuring the organizational framework remains responsive to the changing needs of the business.

Management Team

Owner and Lead Trainer As the heart of John Doe Personal Trainer, the Owner and Lead Trainer brings over 10 years of experience in personal training, specializing in strength and conditioning, nutritional planning, and client relationship management. This extensive background provides a solid foundation for the business, ensuring clients receive the highest level of service. The Owner’s responsibilities encompass overall business strategy, client training programs, marketing initiatives, and financial management.

Staffing Needs

Current Staff Requirements Currently, as a newly established business, the staffing needs are minimal, with the Owner fulfilling the primary roles. However, as client demand increases, the following positions will become necessary:

- Assistant Trainers: Certified professionals who will be trained by the Owner to deliver personalized training programs aligned with our standards. - Nutrition Specialist: A certified dietitian or nutritionist to enhance our service offering with expert nutritional guidance. - Administrative Assistant: To handle scheduling, client inquiries, and basic administrative tasks, allowing trainers to focus on client service.

Future Staff Expansion As the business scales, we plan to introduce roles such as a Marketing Specialist, to oversee digital marketing and community engagement efforts, and a Customer Relationship Manager, to maintain high levels of client satisfaction and retention.

Human Resources Policies and Practices

John Doe Personal Trainer is committed to creating a positive, inclusive, and supportive work environment. Our human resources policies are designed to attract, retain, and develop the highest caliber of professionals. Key policies include:

- Competitive Compensation and Benefits: Offering salaries that match or exceed industry standards, supplemented by incentives for client retention and acquisition. - Professional Development: Investing in the continuous training and certification of our team members to ensure they stay at the forefront of industry trends and practices. - Work-Life Balance: Promoting flexible working arrangements to maintain a healthy balance between professional responsibilities and personal well-being.

External Advisors and Consultants

To supplement our in-house expertise and ensure a comprehensive approach to business management, we engage with a network of external advisors and consultants:

- Financial Advisor: Assists with financial planning, budgeting, and ensuring the business remains on a sustainable growth path. - Legal Consultant: Ensures compliance with local regulations, employment law, and any contractual obligations. - Marketing Agency: A boutique firm specializing in fitness businesses to refine our branding, digital presence, and outreach strategies.

As John Doe Personal Trainer progresses, we will continue to evaluate our organizational structure and management team, adapting to meet the dynamic needs of the market and our business ambitions. The strength of our team, combined with a clear organizational blueprint, positions us well to achieve our mission and foster a thriving personal training business.

John Doe Personal Trainer offers a comprehensive suite of personalized fitness and nutritional services tailored to meet the unique needs and goals of each client. Central to our offering is the development of bespoke fitness programs designed to optimize physical health, improve performance, and enhance overall well-being. Our services break down into several key areas:

1. Personalized Fitness Programs: Each program begins with an in-depth consultation and fitness assessment to establish the client's goals, current fitness level, and any existing health concerns. Based on this information, a customized workout plan is created, incorporating various training methodologies such as strength training, cardiovascular conditioning, flexibility exercises, and endurance training.

2. Nutritional Guidance: Recognizing the critical role of nutrition in achieving fitness and wellness objectives, we provide comprehensive nutritional planning as an integral component of our service. This includes dietary assessments, creation of meal plans aligned with fitness goals, and ongoing support to ensure adherence.

3. One-on-One Training Sessions: At the heart of our service offering are the personal training sessions conducted by our certified trainers. These sessions ensure that clients are performing exercises correctly and efficiently, maximizing their results and minimizing the risk of injury.

4. Progress Tracking and Adjustment: Utilizing the latest technology and methodologies, we continually monitor client progress against established goals, adjusting programs as necessary to keep clients on track and motivated.

Unique Selling Points or Competitive Advantage

What sets John Doe Personal Trainer apart is our commitment to truly personalized service. Unlike many competitors, our programs are not “one size fits all” but are meticulously tailored to each client's specific needs. The owner’s specialization in strength and conditioning, coupled with comprehensive nutritional support, provides a holistic approach to fitness rarely matched in the industry. Furthermore, our focus on flexibility, offering sessions outside traditional business hours, caters to the busy professional’s schedule, presenting a significant competitive advantage.

Development Stage

Currently, John Doe Personal Trainer is at a growth stage, with a solid foundation of loyal clients and a developing reputation in the Tampa area for excellence in personal training. Our immediate focus is on expanding our client base through targeted marketing and referral programs.

Future plans include the integration of virtual training sessions to provide greater flexibility and accessibility for our clients, transcending geographical limitations. Additionally, we are exploring opportunities to expand our service offerings to include group fitness classes and corporate wellness programs, broadening our market reach.

Intellectual Property Status

At present, the business name "John Doe Personal Trainer" is registered as a trademark, securing our brand identity within the marketplace. The customized training programs and nutritional plans, while proprietary in nature, are not currently protected under copyright, though this is under review as our business scales.

Production Process

Our "production process" revolves around the meticulous design and delivery of personalized fitness and nutritional plans. This begins with a comprehensive assessment of each client, followed by the development of customized plans by our certified and experienced trainers. This client-centric approach ensures that each program is effectively tailored to individual needs.

Supplier Information

Our equipment and technology suppliers are carefully selected based on quality, reliability, and alignment with our environmental and ethical standards. We source high-quality fitness equipment from reputed manufacturers who offer durable, state-of-the-art machinery and apparatus. For our nutritional guidance, we utilize credible databases and software that are regularly updated with the latest nutritional research and guidelines.

In conclusion, John Doe Personal Trainer stands out in the personal training industry through our dedication to personalized service, quality, and results. Our future growth will be marked by strategic expansions in service offerings and leveraging technology to enhance our accessibility and effectiveness, ensuring our clients achieve their health and fitness goals.

John Doe Personal Trainer is committed to establishing a strong presence in the Tampa, Florida personal training market. Our marketing and sales strategy is designed to attract and retain clients by highlighting our unique value proposition: personalized, effective, and flexible fitness solutions tailored to individual needs and schedules. This multi-faceted approach combines digital marketing, community engagement, competitive pricing, diverse distribution channels, targeted promotions, and exceptional customer service to build brand loyalty and drive growth.

Marketing Strategy

Our marketing strategy is centered around building a robust online presence, leveraging social media platforms, and engaging with the local community. A professionally designed website will serve as the cornerstone of our online strategy, showcasing our services, sharing success stories, and offering valuable content related to fitness and wellness. Social media platforms, including Instagram, Facebook, and LinkedIn, will be used to connect with potential clients, share motivational content, and highlight client achievements, reinforcing the brand's commitment to tangible results.

Additionally, we plan to engage with the local Tampa community through participation in health expos, sponsoring local sports events, and offering free fitness seminars at community centers. These efforts will not only increase brand awareness but also position John Doe Personal Trainer as a thought leader in the fitness industry.

Sales Strategy

Our sales approach emphasizes personal interaction and the building of strong, trust-based relationships with potential clients. Initial consultations will be offered free of charge, providing an opportunity to understand each client's goals, discuss our services, and demonstrate the value we provide. Our sales team, comprising the Owner and future Assistant Trainers, will be trained in consultative selling techniques, focusing on listening to client needs and recommending tailored fitness solutions.

We will also implement a referral program, encouraging satisfied clients to refer friends and family by offering them discounts on future sessions. This word-of-mouth strategy is expected to be particularly effective, given the personal nature of our services.

Pricing Strategy

Our pricing strategy is designed to reflect the premium nature of our personalized service offering while remaining competitive within the Tampa market. Packages will be offered at varying price points to accommodate different client budgets and commitment levels, with incentives such as reduced rates for longer-term commitments. This tiered pricing model allows for flexibility and makes our services accessible to a broader demographic.

Distribution Channels

Initially, our services will be delivered primarily in-person at our Tampa facility, ensuring that clients receive the hands-on, personalized training that is our hallmark. As part of our future plans, we will introduce virtual training options, expanding our distribution channels to include online platforms. This will allow us to reach clients beyond Tampa, enhancing accessibility and convenience.

Promotion and Advertising Plans

Promotion and advertising efforts will focus heavily on digital marketing, including search engine optimization (SEO) to ensure high visibility for our website, targeted social media ads, and email marketing campaigns to engage with potential and existing clients. Local print and radio advertising will also be explored as methods to reach our target market within the Tampa area.

Special introductory offers, such as discounted rates for the first month or complimentary nutritional assessments with every sign-up, will be used strategically to attract new clients.

Customer Service Policies

Our customer service philosophy is rooted in exceeding client expectations through personalized attention, responsiveness, and a commitment to their success. Policies will include flexible scheduling, easy cancellation and rescheduling options, and regular progress assessments to adjust fitness plans as needed. Feedback channels will be established to ensure clients feel heard and valued, with all concerns addressed promptly and effectively.

In summary, the marketing and sales strategy of John Doe Personal Trainer is built around the principles of personalization, community engagement, and exceptional service, aimed at establishing a loyal client base and achieving sustainable business growth.

The Operations Plan of John Doe Personal Trainer outlines the systematic approach to the daily operations, service delivery processes, and quality control measures that ensure the seamless function and high standard of services offered. This plan also covers inventory management, supply chain considerations, and facilities and equipment needs, all designed to support the business's mission of providing personalized fitness solutions in Tampa, Florida.

Operational Workflow

Daily operations at John Doe Personal Trainer are structured around scheduled training sessions, client consultations, program planning, and administrative tasks. The day begins with a review of the schedule to confirm client appointments, followed by preparation for each session. Preparation includes reviewing client progress notes, customizing workout plans based on the day’s objectives, and ensuring all necessary equipment is ready and available.

Client sessions are the core of our daily operations, with each session lasting approximately one hour. Between sessions, trainers complete client progress notes, adjust fitness plans as needed, and conduct follow-ups on goals and nutrition plans. The end of the day is dedicated to administrative tasks such as responding to inquiries, scheduling new clients, and managing billing and payments.

Production or Service Delivery Processes

Our service delivery process starts with an in-depth initial consultation for each new client. This session involves assessing fitness levels, discussing health and wellness goals, and outlining a preliminary plan to achieve these goals. Based on this information, a tailored fitness and nutrition program is developed.

Ongoing sessions are then scheduled to execute the fitness program, with adjustments made based on client feedback and observed progress. Nutritional plans are reviewed and updated regularly to complement physical training. This iterative cycle of planning, execution, and adjustment forms the foundation of our service delivery, ensuring continuous improvement and client satisfaction.

Quality Control Measures

Quality control is paramount, ensuring that all services meet the high standards set by John Doe Personal Trainer. This includes regular training and certification updates for trainers, rigorous client progress tracking systems, and frequent review meetings to discuss client feedback and identify areas for improvement. Additionally, each training session is designed to meet industry best practices for safety, effectiveness, and client engagement.

Inventory Management

Inventory management involves maintaining the necessary equipment and materials needed for training sessions and the running of the facility. This includes weights, resistance bands, mats, and other training aids. A regular inventory check is scheduled weekly to ensure all items are in good condition and available in sufficient quantities. Consumable items, such as cleaning supplies and office materials, are monitored for timely reordering.

Supply Chain Management

Our supply chain primarily involves equipment suppliers and software providers for client management and progress tracking. We have established relationships with reputable suppliers known for their quality and reliability. Strategic selection of suppliers and backup options ensures continuity in our service delivery.

Facilities and Equipment Needs

The training facility is equipped with a variety of fitness equipment to cater to a broad range of training programs, including cardio machines, strength training equipment, and functional training tools. The design of the space emphasizes safety, functionality, and a welcoming atmosphere conducive to focused workout sessions. Equipment maintenance and facility upkeep schedules are implemented to ensure a clean, safe, and inviting environment for all clients.

Future plans include exploring technological advancements, such as virtual reality fitness programs and advanced body tracking technologies, to enhance our service offerings. Expansion of the physical space may also be considered to accommodate group sessions and a broader range of activities.

In summary, the Operations Plan of John Doe Personal Trainer incorporates a detailed narrative on operational efficiency, service delivery excellence, and the continuous pursuit of quality. By adhering to these operational protocols, we aim to achieve our mission of enhancing clients' health and fitness with personalized workout and nutrition plans tailored to their unique goals.

The Financial Projections section of John Doe Personal Trainer's business plan delineates the anticipated financial performance over the next three to five years. Drawing upon data-driven assumptions and industry benchmarks, this section presents projections for sales, profit and loss, cash flow, balance sheet, and break-even analysis, providing a comprehensive financial outline for potential investors and stakeholders.

Sales Forecast

Over the next five years, we anticipate a steady increase in sales revenue, reflecting the growth of our client base and the introduction of new services. The forecast is based on current market trends, our competitive positioning, and targeted marketing efforts. Here is an outline of the expected revenue:

- Year 1: $120,000, assuming 100 clients with an average spending of $1,200 per year. - Year 2: $150,000, a 25% increase, as marketing efforts and word-of-mouth referrals expand our client base. - Year 3: $200,000, reflecting further market penetration and the introduction of new services such as online training. - Year 4: $250,000, due to both price adjustments in line with market rates and an increase in higher-margin services. - Year 5: $300,000, as the brand becomes more established, and client retention rates improve.

Profit and Loss Projection

Projected profit and loss statements indicate a growing profitability as the business scales, with operational efficiencies and increased sales volume driving margins. Key assumptions include a gross margin of approximately 70%, reflective of the service industry standards, and a moderate increase in operational expenses aligned with revenue growth.

- Year 1: Net profit of $30,000, with a net profit margin of 25%. - Year 2: Net profit of $45,000, improving the net profit margin to 30%. - Year 3: Net profit of $70,000, with sustained investment in marketing and staff. - Year 4: Net profit of $100,000, as operational efficiencies take effect. - Year 5: Net profit of $130,000, with a fully optimized service mix and client base.

Cash Flow Projection

The cash flow projection emphasizes the importance of maintaining liquidity and managing operational expenses wisely. Initial capital investments in equipment and marketing are expected to result in negative cash flows in the first year, with subsequent years showing improved operational cash flow as the client base expands and revenues increase. Key considerations include the timing of revenue receipts, operational expense payments, and capital investments in growth initiatives.

Balance Sheet Projection

The balance sheet projection for John Doe Personal Trainer reflects the accumulation of assets, including initial investments in equipment and technology, and the growth of owner’s equity as retained earnings increase. Liabilities are expected to remain relatively low, with careful management of any debt financing and operational payables.

Break-Even Analysis

The break-even analysis indicates that John Doe Personal Trainer will reach its break-even point within the first two years of operation. This calculation is based on fixed expenses, including rent, utilities, and initial equipment costs, versus the variable expenses associated with service delivery. Achieving this milestone will be a key indicator of our business’s financial viability and operational efficiency.

Financial Assumptions and Considerations

Key financial assumptions underpinning these projections include steady market growth for personal training services, the successful execution of our marketing strategy resulting in client base expansion, and the effective management of operational expenses. Considerations include the potential impact of economic fluctuations on discretionary consumer spending and the pace at which new services can be introduced and scaled.

In conclusion, John Doe Personal Trainer’s financial projections reflect a cautiously optimistic outlook, grounded in realistic assumptions about market conditions, operational efficiencies, and the company’s growth strategy. This foundation positions us favorably for achieving our financial goals and providing a promising investment opportunity for potential stakeholders.

Profit and Loss Forecast

Cash flow Forecast

Balance Sheet

The Risk Analysis section addresses the potential risks faced by John Doe Personal Trainer across various aspects of the business, including market, operational, financial, and legal realms. Understanding and preparing for these risks is crucial for sustaining growth, protecting assets, and ensuring the long-term viability of the business. This section outlines identified risks, mitigation strategies, contingency plans, and relevant insurance and legal considerations.

Identification of Potential Risks

Market Risks: The personal training industry is highly competitive and subject to trends in health and fitness that can rapidly change consumer behavior. Additionally, economic downturns may impact discretionary spending on personal training services.

Operational Risks: Dependence on a single location and a limited number of trainers, including the owner, poses operational risks related to capacity, service quality, and business continuity in case of unforeseen circumstances.

Financial Risks: Initial capital expenditure on equipment and premises, along with ongoing operational expenses, exposes the business to financial risk, particularly in the early stages of growth. Cash flow challenges may also arise from fluctuations in client retention rates.

Legal Risks: The business faces legal risks stemming from potential client injuries during training sessions, employment law compliance for hiring practices, and the protection of intellectual property such as branded content and training materials.

Risk Mitigation Strategies

Market Risks Mitigation: Diversification of service offerings, including online training and corporate wellness programs, will reduce dependency on local market conditions. A solid marketing strategy that emphasizes brand differentiation and value proposition will also help in adapting to changing consumer preferences and economic conditions.

Operational Risks Mitigation: Implementing standard operating procedures for all training and administrative tasks will ensure consistency in service delivery. Investing in staff training and development will increase capacity and reduce dependency on any single team member. Additionally, establishing a business continuity plan, including backup trainers and emergency protocols, will help mitigate disruptions.

Financial Risks Mitigation: Careful financial planning with conservative revenue projections and a focus on cost management will minimize financial risk. Establishing a cash reserve to cover unexpected expenses and fluctuations in cash flow will provide financial stability. Diversifying revenue streams through the introduction of new services will also spread financial risks.

Legal Risks Mitigation: Maintaining comprehensive liability insurance will protect against claims related to client injuries. Implementing rigorous safety and training protocols minimizes the likelihood of such events. Regular legal reviews of employment practices and client contracts will ensure compliance with all relevant laws and regulations. Registering trademarks and copyrighting unique training materials will protect intellectual property.

Contingency Plans

In the event of significant operational disruption, a contingency plan will be activated, focusing on remote training options to maintain client engagement. Financial contingencies include lines of credit to manage short-term cash flow shortages. A crisis management team will be formed to handle any emergent issues, ensuring swift and effective response strategies.

Insurance and Legal Considerations

John Doe Personal Trainer will maintain insurance policies covering general liability, professional liability, and property damage, ensuring comprehensive protection against potential claims. Employment practices liability insurance will also be considered as the team grows. Legally, the business will adhere to all local and federal regulations, with periodic audits conducted to ensure ongoing compliance. Legal counsel will be engaged to oversee contractual agreements, employment practices, and the protection of proprietary information.

In conclusion, by identifying potential risks and implementing robust mitigation and contingency strategies, John Doe Personal Trainer aims to navigate challenges effectively. This proactive stance on risk management not only safeguards the business but also positions it for sustainable growth and success.

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How to Write a Business Plan for Personal Trainers

Reading Time: 5 minutes 57 seconds

DATE: 2020-11-04

Many fitness professionals operate without a business plan. This is partly because writing this type of plan takes time. And in the fitness industry, if you aren't in the gym training clients, you aren't getting paid. This may lead you to operate your personal training business without a plan as well. But is that really a good idea?

Do You Need a Business Plan as a Personal Trainer?

If you provide personal training services as a hobby, you can probably get by without a business plan. You're not reliant on the success of your side venture, so creating a detailed plan as to how it will operate isn't as necessary. Conversely, if you want to make a career out of personal training, there are many benefits to sitting down and writing out a business plan.

For instance, if you want to become a gym owner, it could cost you anywhere from $65,000 for a modest gym up to $1 million if you want a gym loaded with every amenity possible. Where will you get the capital to build your gym? If your answer is "from investors," you will need a business plan to convince them that your gym business is worth the investment.

Or maybe you want to build and grow an online personal training business. Creating a business plan helps you become crystal clear on what your virtual company needs in order to operate smoothly. It provides a detailed budget, marketing plan, and a thorough look at your competition. All of this will help you position your online personal training company for maximum success.

Other benefits of writing a personal training business plan include:

A clearer understanding of what the future looks like for your fitness business, and how to get there

A list of all the people needed to build and grow your training business, such as other trainers, legal counsel, business insurance providers, and other business partners

A plan for how you will monitor your business's success, ensuring that you continue to progress forward

Realizing how to stand out from your competition , making your training services more in demand

Understanding Your Business Plan Options

There are two basic business plan formats. They are a traditional business plan and a lean startup business plan .

What's the Difference?

A traditional business plan is more comprehensive. That makes this a good option for a personal trainer who thrives on detail. It's also helpful if you're a new business owner and want to ensure that you've addressed all issues when building and growing your company.

Traditional Business Plan

The nine sections in a traditional business plan are:

Executive summary . This is where you state your mission statement and provide basic information about your personal trainer business. It is essentially an overview of what your business looks like.

Business description . In this section, you'll give more detail about your training business. You will explain the problems you solve as a personal fitness trainer. Depending on your specialty, this could be helping clients with weight loss, improving senior fitness , or designing fitness programs for youth.

Market analysis . How does your personal training business compare to others in the field? What does it take to become a successful personal trainer? What must you do to appeal to a new client?

Business structure . This section explains both the legal structure of your training business and the structure of your company internally. You must decide whether you're going solo or if you want to hire employees.

Service and product offerings . Typically, a personal trainer business provides a service. But maybe you want to offer your clients products as well. In this section, you will share your plan for what these services and products look like.

Marketing strategy . Here you will explain how you plan to find and appeal to a potential client. Will you buy social media ads or send out mailers? You'll also include what you'll do to retain your clients long term.

Funding needs . If you need capital to start your personal training business, this is where you'll outline this information. Provide the costs related to building or growing your gym or fitness studio. Be specific about how much money you need, as well as where you plan to spend it.

Financial projections . What is your financial plan for the next five years? Don't forget to consider your reoccurring cash flow needs, such as utilities and gym equipment maintenance.

Appendix . This final section includes any supporting documentation for your personal trainer business plan. If you're seeking funding, you might include a credit report and project price quotes. Other items to consider include building permits, a copy of your personal trainer certification , and vendor contracts. If you've been acting as a personal trainer already, provide your past financial statements as proof of your business's financial health.

Lean Startup Business Plan

Because a traditional business plan is so lengthy, some fitness professionals opt for a shorter, less comprehensive plan. This is where the lean startup format comes into play. Creating a lean plan is often enough for someone who wants to provide personal training services solo. This type of plan also enables you to begin providing personal training services fairly quickly.

Like with a traditional plan, the lean format also has nine basic components. The difference is that they can be outlined more briefly. In some cases, you may be able to get by with a bullet list of that section's information. These nine components are:

Key partnerships. The suppliers or vendors you will be working with as you build and grow your fitness business.

Key activities. The actions you will take to bring in new clients; your personal trainer marketing plan.

Key resources. Your business assets, whether financial or people-related, like having staff.

Value proposition. The things that set your business part; how you are unique.

Customer relationships. How you plan to communicate with your clients. What your customer service looks like.

Your ideal client. Identify your target market. Do you want to provide fitness advice to people who've had a stroke ? Would you rather work with young athletes who play a particular sport?

Communication channels. What methods will you use to connect with your client base? Social media? Email marketing ? Some other method?

Costs. List the costs associated with creating a successful training business. When providing training services, will you offer any discounted pricing? Conversely, what are some ways you can increase your value to your target audience?

Revenue streams. How do you plan to make money? Solely by providing personal training services or by selling products too? You can also share your pricing strategy here.

Filling out these sections does require that you take some time, but it is often quicker than providing the detail necessary to complete a traditional business plan.

Creating a solid personal trainer business plan can help you build a strong, profitable business. To make this plan more effective, you must get crystal clear on what you want your training business to look like.

If you're unsure, take a few moments to close your eyes and imagine your business when it is up and running. How big is it? How many personal training clients does it have? How does it help them improve their fitness? What are you doing to run the business? Do you have staff? If so, how many? The more you can envision your goal business, the easier it is to create a personal training business plan that supports this vision.

Even though you now know all of the elements of a good gym business plan, it sometimes helps to work off an outline. Many online sites provide an easy-to-use business plan template. All you have to do is download it, input the requested information, and you're good to go.

Review Your Personal Training Business Plan Regularly

A fitness business plan isn't something you write up and file away never to look at again. Reviewing it regularly helps you identify if you need to strengthen certain aspects of your training business to reach higher levels of success.

Taking the time to write and review your business plan also helps you get and stay on your desired path. It provides guidance as you build and grow your personal training business.

Another way to take your business to the next level is to obtain additional certifications. For instance, the ISSA offers Certified Gute Specialist certification , Corrective Exercise certification , and Bodybuilding certification . Gaining more credentials tells potential customers that you have the education necessary to help them achieve their fitness goal!

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How to Create a Personal Trainer Business Plan

Personal Trainer Software

You know what they say; if you fail to plan, you plan to fail! Sadly, 20% of businesses fail in their first year, with 45% in the first five years. One of the main reasons for this is that they do not put together a business plan to direct their efforts.

A personal trainer business plan is a necessity for success.

A realistic and solid personal trainer business plan is fundamental for success. In your plan, you will outline achievable goals for your company, how you can meet these objectives, and potential solutions and problems you may face.

The plan will help you determine if there is a need for your personal training business through surveys and research. It will figure out the inputs and costs required for the company and outline the timelines and strategies that should be enforced and met.

Once you have put together a business plan, you need to follow it! If you start changing your strategies or overspending, you ask for failure. The only reason you should change your business plan is if you have found it inaccurate and harming your business rather than helping it.

What is a personal training business plan?

A business plan is a document that defines your business goals and how you plan to achieve them. It lays out a written roadmap for your company, assessing operational, financial, and marketing standpoints.

A personal training business plan is critical not only for your internal audience but your external audience as well. For instance, a solid business plan can ensure that everyone working on your team is on the same page. At the same time, it can help you to secure financing and attract more investors.

Why do you need a business plan for your personal training company?

Business plans for personal trainers have a whole host of benefits. They help you to do the following:

• Clarify your personal training business idea

• Get funding

• Discover any possible problems

• Establish your objectives

• Manage your resources and time

• Uncover new ideas for growth

• Measure the progress you make

You will also need a business plan if you want to secure a loan or investment from a bank.

9 steps to follow when creating a personal trainer business plan.

Now that you know why creating a business plan as a personal trainer is critical, we will take you through the essential steps you need to follow.

Step 1. Write your mission statement.

Firstly, compose a few sentences explaining what your personal business does and why you do it. The latter part is critical—the "why" sets your business apart. You can understand this by looking at your training philosophy and core values.

• Core values - Core values are your personal beliefs. Who are you as a personal trainer ? What do you stand for?

• Your training philosophy - This is what you believe in terms of exercise. What do you think about training that is not negotiable?

Step 2. Conduct research on the fitness industry and your competition.

Next, you need to carry out a market analysis. Collect data that is valuable to your business. Understand what your competition is doing on a local and national scale. Understand the demographics of your target consumer base so you can discover whether there is a gap in the market and how you can set yourself apart.

Step 3. Determine your value proposition.

This is where you consider what sort of service you want to provide. For example, would you like to offer a niche fitness service to a specific target audience? On the other hand, do you want to provide a broader service, with various classes, catering to many needs?

This is the step where you develop your USP , otherwise known as your Unique Selling Point. After all, many people are providing personal training services today, so you must establish what makes you different and what would compel someone to choose your service.

Step 4. Outline your business structure.

As time goes on and your business grows, your responsibilities will also increase. We are sure you already know where you want to be in the future, but you need a business structure to get there.

Your choice of structure will influence the paperwork you need to file, your personal liability, your ability to generate funds, and how much you pay in taxes. All of your exemptions and limitations are determined by your company's structure as well. This is why you need to think carefully about whether it is better to set up a limited company , partnership, sole proprietorship, or corporation deal.

Step 5. Put together a marketing plan.

You may be an exceptional personal trainer, but you need to put your business head on to become a success, and this involves mastering the art of fitness marketing .

The marketing methods you choose will depend on your budget and target audience. Brainstorm different ideas and approaches that you can use to drum up your business and solidify your reputation.

From YouTube workout videos to on-site social media optimization, there are so many paths that you can go down. We would always recommend starting with your business's assets. For instance, if you know you're good at making videos, this would be an evident place to start building your presence. If you'd like to put together a content marketing plan , Contently could be a great point to start.

Step 6. Address product and service offerings.

In an ideal world, we all want to accomplish and complete our objectives, yet realistically speaking, this is not always the case. This is why we advise preparing for a failsafe, i.e., another revenue source. After all, if Covid-19 has taught us anything, it is that you do not know when something is going to change drastically, so you need to be prepared.

Usually, a personal training company will offer several services. So, one of the ways to set yourself apart is by providing products as well. Not only will this be a failsafe option for your company, but it is also an additional profit source.

Step 7. Put together a financial plan.

The best way to ensure you'll make a profit eventually is to create a thorough financial plan .

Before you can start enforcing your business plan, the financial area is something you need to look at carefully. But first, you need to make sure the numbers add up!

Many personal trainers underestimate the costs associated with running a fitness business. You should factor in expected revenue and start-up costs. It would be best if you also looked at operational expenses. Ask yourself how much it is going to cost to run your business. Make sure you do not leave any fees out, from marketing costs to monthly rental expenses.

A break-even analysis should also be performed. If you are investing in your company, profit will take some time. Break-even analysis helps you determine how long it will take before you start making a profit.

Your financial plan would also consider the projected income from your fitness services. Starting with one or two income streams at first makes sense. Then, you can learn how they work or how they don't. Finally, you will be able to discover more about your business and what people want so that you can grow naturally.

As time goes on, you will discover what fits well with your client base and what doesn't, so you can continue to refine your products and services accordingly.

Step 8. Assess risks effectively.

All businesses come with risks, and one of the most critical parts of a business plan is evaluating every risk your business is likely to face. You can categorize risks based on their seriousness, naturally addressing these issues further.

By understanding the risks your business faces , you will be best placed to put provisions in place to ensure that these risks do not manifest themselves and become a real problem for your business.

You can also perform a SWOT analysis to determine your fitness business's strengths, weaknesses, opportunities and threats.

Step 9. Establish an implementation plan.

Last but not least, now that you have got all of the data you need and the essential elements of your plan, you must be able to bring them all together to launch or expand your company successfully.

Make sure your implementation timeline is realistic. List chief objectives and target dates that certain activities need to be finalized. Once you have done this, you can rest assured knowing that you have a solid business plan to fall back on.

Secure the future success of your business with a personal trainer business plan.

So, there you have it: the crucial steps you need to follow when developing a personal trainer business plan for your business. Following the steps above, you can create an accurate and thorough business plan to help you achieve great success as a personal trainer.

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How To Write A Personal Training Business Plan (+Bonus Templates)

• March 3, 2023
• For Personal Trainers

Now that you’ve opened a personal training business, you have to run it. To ensure that your fitness business is a success, you need to create a personal training business plan .

Whether you are writing a business plan for a fitness business or any other type of start-up, a good business plan needs to comprise many different components. It is a good idea to use a template to ensure you include everything necessary.

A good business plan must include the following sections :

• Market analysis
• Competitors
• Marketing and sales plan
• Financial plan and future projections

The goal of creating a personal trainer business plan is to ensure that there is a niche in the market for your offering. Also that you will manage to generate enough revenue to continue operating after having made all the start-up investments.

Below is a more detailed breakdown of what you need to include in your business plan .

Summary and Pitch

The most basic thing you need to include at the beginning of your business plan is your pitch or summary . It serves as an overview of your personal trainer business and provides basic information about your business and your mission statement.

Make sure you include the following in your business plan:

• The what – what are your goals?
• The why – what is your mission?
• The how – what will you do to succeed?
• The big picture – what is your vision?

The summary, also called the pitch, needs to attract attention . It must be concise and clear . However, it should not feel rushed. Don’t skip important parts while avoiding excessive wordiness. Make it yours. Make it unique – just like your business.

The reader of your personal trainer business plan summary needs to have no doubts as regards what you do, what your goals are, and how you are going to reach them.

Background Information

In this part of your personal trainer business plan, you present the owner’s (or owners’) experience, qualifications, and goals . It gives the reader an overall idea of who is behind the business name . For you, it serves as a way to get a better picture of your strengths and weaknesses .

You will gain a clear view of your strengths, and where you need more experience . You may realize that some aspects of the business need to be outsourced so that you can spend your valuable time on something else.

This knowledge will be especially useful when your business grows and you will not be able to take care of everything yourself. Knowing yourself well will help you decide what you should still do yourself and what you should better delegate to someone else.

Market Analysis

Your personal trainer business plan needs to include market analysis. Consider your location, other gyms in the area, and your local demographic. The latter is very important. You have to gather as much information as you can about your target demographic . You need to know who they are, what their typical behaviors are, and their reasons for using your service.

Why is this detailed knowledge so important? Because the more you know your potential customers the better you will be able to attract the m. You will know in which areas you need to stand out and how to make your services more appealing to your audience.

You need to know exactly who you are targeting. Narrow down and define your target market . Is it students? Schools? Aspiring athletes? Working people? Executive women in their 30s and 40s wishing to improve or achieve their fitness? Or maybe people over 50 years old aiming to improve their health and prevent illnesses? Or could be even a narrower group, for example not athletes but specifically cyclists.

Once you have identified your target market, find out exactly what type of personal training type they are looking for and provide reasons for choosing your business.

Products and Services

Obviously a personal trainer offers a service . You may, however, also include certain products in your offering . In this part of your personal trainer business plan, you specify the services and products you offer.

Include the list of products and services together with the prices . You could offer many different things, such as in-person personal trainer sessions, online training programs, specialized workshops, as well as fitness-related products.

Apart from listing the products and services and the pricing, you need to specify who will purchase them, how they will be delivered, and how they will benefit the customers.

Consider including the following in your personal training business plan:

• Bio print analysis
• Individual personal training services
• Indoor and outdoor fitness sessions
• Nutrition consulting
• Nutritional products and diet supplements
• Online and in-person seminars
• Online personal training services
• Personal training tutoring
• Personal training for groups
• Public speaking
• Workout guides

This section of your personal trainer business plan is where you outline your funding needs . You should provide information about the costs of starting and growing your personal training business. You need to be exact about the amount of money you need and specific about where you are going to spend it .

Provide a detailed breakdown of profit, loss, cash flow, breakeven figures, and capital expenditure required for start-up. Plan for one, three, and 5 years in advance.

The initial investment needed to open a personal trainer business is quite low. You may need to obtain a certification which shouldn’t cost more than $2,000. You will also need to pay for liability insurance, which shouldn’t cost more than $200-$300 per year.

Additionally, remember the initial advertising cost. You should apportion about  $1,000 for it. You will most likely need some business cards , fitness flyers , or even a newspaper or radio ad. Also, pay attention to your online presence- factor in the costs of running a website and social media accounts and advertising.

Operating Costs and Pricing

In this section of your personal trainer business plan, you have to present the pricing, and justify it by taking into account your competition, the need in the market, and by proving that your pricing system is viable. You can achieve that by calculating your margins either per hour or (better) per month.

Think about the reasons for choosing a certain price and what that choice will mean for your business .

If you opt for a budget price , you need to remember that you have to be able to generate a large volume of sales and accommodate them. On the other hand, if you decide to go for a high-end price you need to make sure that you provide high-end quality of the location, the service, and the products you offer.

Some personal trainers go for a fixed price , say $85 per hour. They justify a high cost with their experience and a promise of providing whatever equipment is needed for each customer.

Other personal trainers suggest offering different services at different prices , depending on the expertise needed, the complexity of the program, and the equipment required.

Yet others prefer an open pricing model with individual prices provided via negotiation.

Marketing and Advertising

They may look and sound similar, but marketing and advertising are not the same things . You need to know the differences between them.

Advertising could be described as the placement of marketing. If giving someone a business card is an advertisement, then what is on the business card is marketing.

Building a marketing strategy requires creativity. It’s about exploring and analyzing different types of customers and generating ideas for making your business offering appealing to them.

However, your personal trainer business plan should only include your advertising strategy.

Always remember that one of the biggest factors making or breaking a business is not what it offers but how well the marketing and advertising strategies have been created and executed . You might be the best personal trainer out there with all the knowledge and skills one might ask for, but without a well-designed and implemented marketing and advertising strategy you won’t have anyone to train.

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Financial Projections

Lack of previous experience and supporting evidence, creating a financial forecast may seem impossible. You may feel like you have no clue where the numbers are supposed to come from. The best thing you can do is to try to be as level-headed and realistic as you can .

Start by listing all of your fixed and variable costs and personal living expenses to figure out how many clients you need to have to break even. If you are new in the financial field and lack information, consider practicing CFA study materials, as it will help to have the basics of financial analyses.

It may be difficult at the beginning, but try to incorporate different sources of income . Do not place all the eggs in one basket by, for example, relying on a one-on-one training service to provide the biggest part of your revenue. Be realistic and think of ways to make money on different services and products you offer .

When your business grows, don’t be afraid to raise prices . Even a slight increase in the hourly rate or the prices of products will surely add up throughout each month. Try to increase your revenue by offering additional products and services to your established customers, for example, supplements or specialized pieces of equipment. Help them see your business as a “one-stop-shop” for all their fitness needs.

Samples and Templates

Now that you know what to include in your personal trainer business plan, it is time to look at some examples . It will help you see not only what to write but also how to present it. Always remember that each business is unique (and you certainly want your business to stand out), so never copy someone else’s business plan. Use it as a guide to creating your very own personal trainer business plan .

Take a look at the examples and templates below and get inspired.

• Dragon Fitness Training was created as an academic exercise.

• Personal Trainer Business Plan Template is a downloadable Word document

• Personal Trainer Business Plan worksheet contains blank spaces that you need to fill out. The sections are Mission Statement, Market Analysis, Revenue Streams, Operating Plan, and Marketing Plan.

• Catalyst Fitness is a CrossFit business plan and includes a detailed risk assessment, too.

• The Yoga Lunch Box is a comprehensive yet straightforward template for a yoga studio business plan that can serve as a reference.

• Fitness Texter provides a guide with questions to ask yourself which will help you create a business plan.

FAQs about creating a personal training business plan

1. what are the key components of a personal training business plan.

An executive summary, a description of the company and its goals, a market study, sales and marketing plans, financial predictions, and a management and operations plan are often the main elements of a personal training business plan.

2. How do you identify and analyze your target market in a personal training business plan?

You must take into account variables like age, gender, economic level, geography, fitness goals, and favorite workout style when identifying and analyzing your target market.

Online research, focus groups, and questionnaires can be used to collect this data. You may develop powerful marketing strategies and offerings that satisfy the needs of your customers by researching and understanding your target market.

3. What strategies should be included in a marketing plan for a personal training business?

Social media marketing, content marketing, referral marketing, and community involvement are all important marketing tactics for a personal training firm .

A large audience can be reached through social media, and expertise and authority can be established through content marketing . Referral marketing can produce new clients, and community outreach can build partnerships with local businesses and groups.

4. How should financial projections be calculated in a personal training business plan?

A personal training business plan’s financial estimates should be supported by thorough market analysis and reasonable hypotheses.

Revenue, expenses, profit and loss, cash flow, and a break-even analysis should all be projected. Start-up expenses like those for rent, insurance, equipment, and marketing should also be taken into account.

5. What are the typical start-up costs associated with opening a personal training business?

Equipment, liability insurance, rent or lease, marketing charges, and legal fees are typical start-up costs for a personal training firm.

Free weights, resistance bands, cardio machines, and mats are examples of equipment costs. It’s critical to get liability insurance to defend against potential legal action. Rent or leasing will depend on the facility’s location and size.

6. How can a personal trainer differentiate their business from competitors in the market?

By emphasizing their unique selling proposition (USP), such as a particular training method or specialized services, a personal trainer can set themselves apart from rival businesses.

Additionally, they can provide each client with individualized attention and personalization while also fostering long-lasting connections with them through excellent customer service and effective communication.

7. What are the most effective pricing strategies for personal training services?

Hourly rates, package prices, and subscription models are all viable pricing options for personal training services .

While package pricing can provide reductions for numerous sessions, hourly rates can be advantageous for single sessions. For a recurrent cost, subscription models may provide continued access to personal training services.

8. What legal considerations should be addressed in a personal training business plan?

Liability insurance, client waivers, and the creation of company entities can all be considered legally in a personal training business plan. While client waivers can exempt the personal trainer from liability, liability insurance is necessary to defend against any litigation.

Liability protection can also be obtained by selecting the appropriate business structure, such as a sole proprietorship or LLC.

9. How can technology be utilized to enhance the services offered by a personal training business?

Via online scheduling software and apps , virtual training sessions, and fitness tracking apps, technology can be used to improve the services provided by a personal training firm.

Customers may find it simpler to set appointments using online scheduling, and virtual training sessions may enable a company to reach customers who are not close by. Clients who use fitness tracking applications can monitor their progress and maintain motivation.

10. How should a personal training business plan be revised and updated over time to stay relevant and effective?

A personal training business plan needs to be updated and amended on a regular basis to account for market and industry changes.

This can involve reviewing new services or technologies, revising marketing plans, and updating financial estimates. The business can respond to changes in the market and customer needs by routinely reviewing and updating its business plan, which can help it stay relevant and effective in a fast-paced and competitive industry.

To make sure that the company stays on track to fulfill its goals and objectives, it’s crucial to set aside time on a regular basis to evaluate the business plan and make any required modifications.

Also, getting input from customers and professionals in the field can offer insightful suggestions for revising and enhancing the business strategy over time.

Final thoughts on how to write a personal training business plan

Writing a business plan is a must for any start-up. Every business plan should be regularly revised and updated to make sure that it reflects the current state of the business and that it outlines realistic goals and ways to achieve them.

A well-written business plan will help you gain clarity, set realistic goals and objectives, and create realistic forecasts and strategies.

A business plan is an important step in turning your personal trainer business idea into an operating business . It allows you to think thighs through and ensure that your idea will work and succeed.

It doesn’t mean, though, that a good business plan needs to be long and complex. It does, however, need to outline and explain all the basic and most important information about what you want to achieve and how you are planning to get there .

• Ljubica Buha

Ljubica Buha is a versatile enthusiast and a Digital Marketing Manager specialized in IT industry. By day, she crafts digital stories; by night, she dives into literature. She's equally at home exploring beneath the waves, carving through snow on a snowboard, and embracing the outdoors through hiking.

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Personal Trainer Business Plan – Free Download

Use this personal trainer business plan as your template to create the best personal fitness facility in town that’s also a thriving, profitable fitness business! This personal trainer business plan includes market analysis, strategy, more.

Download this Personal Trainer Business Plan free for easy editing in Google Docs, Microsoft Word or Apple Pages:

Table of Contents

1.0 Executive Summary

1.1 COMPANY

BuffUp Lake Oswego is a franchise of BuffUp, Inc. BuffUp is the principal strength and conditioning program for people of all shapes and sizes, from the highly specialized combat warrior to the grandmother trying to build enough strength to pick herself up after a fall. This is a fitness program that is, by design, broad, general and inclusive. Our franchise is a limited liability company located in Lake Oswego, Oregon. This personal trainer business plan describes the business opportunity, strategy and tactics to build a thriving business.

1.2 PRODUCTS & SERVICES

BuffUp Lake Oswego provides individuals the opportunity to exceed their fitness expectations.  This is delivered through expert coaching, high-quality equipment, convenient scheduling and exceptional exercise programs.

When a person exercises in a group, has fun and uses everyday functional movements; he or she is far more likely to exercise more often, eat better, have less injuries and lose weight while gaining muscle mass. Our program is provides all of the elements necessary for participants to achieve their fitness goals.

1.3 MARKET ANALYSIS

As this personal trainer business plan shows, the market for fitness training reflects the demographics and standard of living in much the same way that the major gyms and personal training facilities are segmented. In general, BuffUp attracts adults in the 30 to 60 year old range, who either live or work in the area.  Lake Oswego has roughly 96,000 people that fall into that range. Of course, BuffUp will appeal to many persons beyond this group, but this is our strongest market segment.

1.4 STRATEGY & IMPLEMENTATION

BuffUp Lake Oswego will leverage its alliance with BuffUp Inc. to help gain early customer traction. Prior to opening the facility, a free training program in a local park will be offered, which will help spark interest and will illustrate the type of training that is available. The company will have a heavy web presence, led by an online blog that will form a community among the members of the club, as well as attract new members.

1.5 MANAGEMENT

Brian Ortiz and Jake Austin are the founding partners of BuffUp Lake Oswego. They have participated in other BuffUp franchises for several years, and both are certified as BuffUp trainers. They also have business backgrounds, as well as a strong network of clients that are interested in the service.

1.6 FINANCIAL PLAN

BuffUp will acquire 85 customers in the first year, which will generate approximately $125,000 in revenue. Our projections for this personal trainer business plan is that the client base will continue to grow by 100 customers each year until the maximum capacity is met in year 5. Recurring revenue is a critical part of the business model. The company will be cash flow positive in the first year.

1.7 FUNDS REQUIRED & USE

BuffUp Lake Oswego is seeking $45,000 through a line of credit that will be used to secure a facility, equipment and for marketing expenses. This line of credit will be paid off within the three years.

2.0 Company Summary

2.1 COMPANY & INDUSTRY

BuffUp Lake Oswego is a franchise of BuffUp, Inc. BuffUp is the principal strength and conditioning program for people of all shapes and sizes, from the highly specialized combat warrior to the grandmother trying to build enough strength to pick herself up after a fall. This is a fitness program that is, by design, broad, general and inclusive. We do not specialize. We generalize. Sports, combat, survival and life reward are just a few of the accomplished goals of our program.  Our program utilizes the ten standards of fitness; cardiovascular/respiratory endurance, stamina, strength, flexibility, power, speed, coordination, agility, balance and accuracy.  It’s very hard exercise that works!

2.2 LEGAL ENTITY & OWNERSHIP

BuffUp Lake Oswego is currently registered with the Secretary of State (Oregon ) as a limited liability company under the name “The BOJT Company, LLC”.  We plan on operating as “The BOJT Company, LLC DBA BuffUp Lake Oswego”.

2.3 FACILITIES & LOCATION

BuffUp Lake Oswego is located in Lake Oswego, Oregon.  We will be occupying roughly 2,200 to 3,000 square feet of light industrial space. Service and sales area: 200 square feet.  Workout space: 1500 to 2000 square feet.  Office: 200 square feet.  Restrooms: 300 to 600 square feet.

3.0 Products and Services

3.1 PRODUCT DESCRIPTION

3.2 FEATURES & BENEFITS

One-on-one coaching (Fundamentals): Each client must attend five one-on-one sessions with our BuffUp Level 1 certified coach. Within those five sessions, the client will learn the basic techniques to successfully complete a group WOD (workout of the day). These basic techniques include:

• Squat (front, back and overhead)
• Clean/jerk and Clean/snatch
• Sit-ups/back extensions
• Pull-ups (Kipping and butterfly)
• Push press, push jerk and shoulder press

Cost: $250 (one-time fee)

Group WOD’s: After clients go through one-on-one training, and have shown that they are proficient in the basic moves, they can join our group WOD’s. These workouts include some, if not all, of the aspects of the fundamentals class. Each workout will be varied in intensity and in the techniques used. Clients will be timed and expected to push their mental and physical limits every time they enter the facility.

Cost: $150 per month or $1800 per year.

3.3 COMPETITION

While there are many fitness alternatives, such as gyms, biking, hiking, organized sports and personal trainers, BuffUp has few competitors. We offer the benefits of private training at a cost comparable to gym memberships.

There are several national chain gyms in Lake Oswego, but only 24 Hour Fitness is within our immediate area. BuffUp Lake Oswego will open its doors close to a 24 Hour Fitness location with the intention of attracting some of its customers.

Additionally, as described in the Marketing Strategy of this personal trainer business plan, no other competitors are actively engaging with their clients and prospects daily through educational content via social media. Most of the posts by the competition revolves around self-promotion. Our focus is on the client, who is the center of BuffUp’s brand development strategy, so our structured and automated approach to educational and inspirational coaching content can overshadow our competitor’s marketing efforts.

3.4 COMPETITIVE EDGE/BARRIERS TO ENTRY

BuffUp Lake Oswego will eventually shift the way society views fitness.  People buy our services because we capitalize on every flaw a “global gym” has to offer.  BuffUp offers real one-on-one coaching each and every time a person comes into the facility at a fraction of the cost of a “global gym”.  Most gyms offer personal training for $50-$100 a session.  Our gym charges $150 per month for unlimited sessions.

Our facility creates workouts that compound full body movements.  These workouts are fun, very intense and can be scaled to all ages and experience levels.  The typical “global gym” caters to the bodybuilder types that have no functionality to what life can throw at you.  Our gym doesn’t use expensive, useless machines that isolate each muscle, thereby creating uneven muscle balance.  BuffUp gives each individual an opportunity to lose weight, gain muscle mass and regain the agility and balance once enjoyed a child.

BuffUp Lake Oswego will establish the first BuffUp facility in our city, and we acquired exclusive rights to open future BuffUp locations in the area.

3.5 DEVELOPMENT

In the future, BuffUp Lake Oswego will open additional locations to meet the needs of our area.

We are also studying the possibility of expanding into physical education programs and sports programs in area schools.  This would be done as a consulting business or a contract for services.

We also plan to build an online store featuring the merchandise offered at our facility and other items.  We will also host specialty seminars on nutrition, Olympic lifting, etc. These additional revenues will add to our bottom line.

4.0 Market Analysis Summary

4.1 TARGET CUSTOMER

The market for fitness training reflects the demographics and standard of living in much the same way that the major gyms and personal training facilities are segmented. Below are listed market segments based on the usual demographics seen in today’s fitness industry:

• Age Range 30-60: It is known that in the fitness community, those clients looking for personal training and willing to spend the money for it, are between the ages of 30-60.
• Yearly income of greater than $75,000: Most clients are more willing to pay a premium for one-on-one coaching when they make more than $75,000.
• % of population with gym memberships: The latest study shows that 15% of the population has a gym membership. BuffUp facilities tend to capture 1-3% of the population.
• General population within a 5-mile radius of the facility: To run a successful facility, we need at least 50,000 residents to generate a sufficient number of members for a profitable franchise.
• Athletic males: BuffUp attracts active male athletes.
• All females: Conversely, BuffUp attracts all types of females. Females are more willing to try new things and are less worried about failing.

4.2 MARKET SIZE

BuffUp appeals to adults in the 30 to 60 year old range, who either live or work in the area.  Lake Oswego has roughly 96,000 people that fall into that range. Of course, BuffUp will attract people outside this group, but this is our strongest market segment, which is why all of the tactics in this personal trainer business plan are targeted at this demographic. As stated above, our minimum required population within 5 miles should be 50,000 people.

Our population within 5 miles is 232,647. Average household income should be $75,000 or higher.  43.6% of the population either meet or exceed $75,000. More than 15% of the US population has a gym membership, and more than 67% of those with memberships aren’t satisfied with what they have and don’t go on a regular basis. BuffUp Lake Oswego realizes that with quality services and exciting workouts, we can capture at least 1% of the 34,897 people with gym memberships within a 5-mile radius of our location. This equates to 348 new members, which exceeds our goal of 200 members.

When doing research on the fitness industry, we’ve found that there is a definite shift from the ordinary workout session (weights and running) to the increasingly popular group sessions. These workouts have proven to be more effective and enjoyable for participants.

4.4 SWOT ANALYSIS

The SWOT analysis provides us with an opportunity to examine the strengths and weaknesses BuffUp Lake Oswego must address. It also allows us to examine the opportunities presented to BuffUp Lake Oswego as well as potential threats.

• Knowledgeable and friendly staff: Our staff consists of professionally trained personnel that have a true passion for helping the community and caring for the needs of its members. This becomes apparent when you look at our staff’s professional background. We have proven that we are willing to go above and beyond to suit the needs of our customers.
• Top of the line equipment: Our customers will enjoy the finest in fitness equipment.
• Online presence: Each member will have access to shop, schedule and track fitness progress online. All scheduling will be automated for fast and efficient communication with our members.
• Fun, family ambiance: When you walk into our facility, you will feel the family atmosphere. Our members will feel comfortable and eager to cheer each other on. Our facility will give the athlete an old school feeling, making them feel as if they are a part of an early “Rocky” movie. No machines no mirrors just bumper weights and many Olympic exercises.
• Clear vision of the market need: BuffUp Lake Oswego knows what our customers have been missing at their current gyms. We know what exercises work and we know what keeps people motivated. In return, we know we will create very loyal, passionate members.
• Newness: Although BuffUp has built a loyal following, our brand is not yet a household name.
• High membership fees relative to traditional gyms: Our services may not appeal to potential customers with a limited budget. Of course, our services are more affordable than personal trainers, but we will need to identify an engage the large mid-range customers.

Opportunities

• The growing population interested in group fitness: In the last couple of years, we’ve found that there is a huge population of individuals that are more interested in group workouts than going to the gym alone.
• Social bonds fostered by group workouts: Our exercise programs are building personal bonds and friendships. These bonds have led to an internet-based fitness community covering more than 720 facilities. It has become a viral marketing phenomenon, and members are sharing this excitement with new people every day.
• Growing market: BuffUp is a relatively new brand in the marketplace. We have a foundation and a reputation within the diehard fitness community, but a significant percentage of our target market has still not been introduced to our services.
• Internet possibilities: We plan to create an online store and build our internet fitness community.
• Declining economy: Many people are becoming increasingly conservative with how their money is being spent.
• Copycat training services by gyms and independent trainers: Certainly other services will try to mimic the success of BuffUp, but we are confident that our proprietary programs and national reputation will limit the impact of copycats on our bottom line.

5.0 Strategy & Implementation

5.1 PHILOSOPHY

BuffUp Lake Oswego will build and provide the only fitness facility truly dedicated to solving the fitness needs of our customers.  This will be done through providing the highest quality equipment available, constantly keeping our staff up to date on certifications, providing a clean and crowd-free gym.

5.2 INTERNET STRATEGY

Our website BuffUpLO.com gives our customers an opportunity view current information on special events, schedule training, buy products and participate in an online fitness community.

BuffUpLO.com will be promoted on all of our flyers, business cards and promo pieces.  We are linked to BuffUp.com (main site) and to over 750 franchises around the world.

BuffUpLO.com is nearing its completion date.  We will maintain a simple and classy site.  The website logos and graphics share the same artwork found on our signage and marketing materials.  Our managers will maintain the website. MindBody will provide the programming for all the billing and scheduling done through our website.  As part of our package with MindBody, technical support will be included.

5.3 MARKETING STRATEGY

Our marketing activities include the following:

• Constant internet support and blogging
• Email advertising to current members and potential leads
• Free park exercises to grow community awareness and new customers
• Sponsorship of local athletes and students in sporting events
• Joining the Chamber of Commerce, Rotary Club and other local groups
• Participation in fitness and charity events

Positioning:

For the gym goers that aren’t satisfied with their fitness routine, BuffUp Lake Oswego provides high intensity exercise that WORKS! Unlike 24 Hour Fitness or Bally’s Total Fitness, BuffUp is fast, fun and extremely effective.

Client Engagement:

As with many businesses today, our social media activity is a fast and efficient way to stay top-of-mind with our clients. Since creating social media posts, including blog articles and guides that our customers will find useful can be time-consuming, we will license private-label rights content, PLR Coaching Content , that is designed specifically for our market.

This will save time and money while allowing us to stay engaged daily with our audience. We will use a WordPress content autoloader to pre-load several months of motivational quotes, inspirational articles, nutritional guidance and more onto our website to free up our team’s time to focus on supporting our customers and still maintain online engagement.

Promotions:

BuffUp Lake Oswego’s promotion strategy consists of word of mouth, email promotions and local advertising (newspaper, school flyers and non-profit organizations). We will also do regular lead-generating exercises in local parks.

We will make presentations to athletic directors and coaches of the local high schools and colleges. Since our background is in public safety, we will also present this program to our local public safety officers, such as police and fire personnel. We will actively participate in the local Chamber of Commerce and enter our members in local fitness events.

Our biggest promotional tool besides word of mouth comes from our website. Our website is linked to the main BuffUp website that generates millions of hits throughout the year. When customers are looking for fitness programs, they will usually find themselves going through the BuffUp main page and then searching for a gym near them. If they live in Lake Oswego or nearby, the site will recommend our website, which gives the customer everything they need to join our club.

5.4 SALES STRATEGY

To acquire customers regularly, this personal trainer business plan outlines our unique marketing strategies that focus on awareness and personal touch.

Every Saturday, BuffUp Lake Oswego will meet at a park and invite all current members to bring friends and family to participate in a workout.  They will learn the basic moves and complete a WOD or Work Out of the Day.  This gives new individuals a chance to experience what BuffUp is about and shows them how effective the program is.

Guests will fill out a contact card and will be followed up on at a later date with invites to come down to our facility and a link to our website where they can find videos and blogs that support our fitness community.

This marketing strategy allows us to generate many leads and gives potential customers a chance to actually try something before they buy. This strategy will continue for the live of our business. Most current BuffUp businesses have done this and have found great success doing so.

5.5 STRATEGIC ALLIANCES

BuffUp Lake Oswego is affiliated with BuffUp Inc.  BuffUp Inc. promotes the fitness programs of all franchisees.  Since 2001, this company has grown tremendously.  As a franchise, we are tied into over 720 like-minded facilities throughout the world that are becoming increasingly popular.  This internet community allows thousands of people to become exposed to our program.

5.6 OPERATIONS

Our team will focus on marketing, leading classes and continued education. All staff members will hold a BuffUp Level 1 certification.  This instructor/trainer course insures that all employees have demonstrated the ability to teach the BuffUp Method. We will constantly improve our teaching methods through continual participation in certification courses in all aspects of fitness training and nutrition.

Our primary goal is to create a community committed to elite functional fitness.  Our monthly objective is to generate at least 20 new members. This will allow us to become a profitable fitness business.

We aim to open and run a facility at full capacity within the first two years with 150 to 200 members.

5.8 EXIT STRATEGY

The owners of BuffUp Lake Oswego are establishing this business as a cash flow company for themselves and as a vehicle to pursue their passion for fitness. BuffUp will provide adequate dividends to the owners, as well as generate enough revenue to pay off the initial loan in the first three years. The owners may exit the business through an acquisition by another BuffUp affiliate or a larger fitness chain.

6.0 Management Summary

6.1 ORGANIZATIONAL STRUCTURE

The company will follow a hierarchical structure with Brian Ortiz and Jake Austin at the top as co-presidents and Mrs. Hannah Ortiz and Mrs. Miranda Austin as facility heads.  The sales, advertising, workouts, expenditures and Q&A will consist of only those individuals until such time as growth of the company will require more people.  This is anticipated to occur in year two to four.

6.2 MANAGEMENT TEAM

BuffUp Lake Oswego must have a level 1 BuffUp certification to train all members.  Both owners/presidents hold this minimum requirement, and our management team will be fully certified within the next six months.  All potential employees will be required to hold that certificate.  Payroll and accounting issues will be completed by our managers and cleared by a co-owner.

Brian Ortiz and Jake Austin have participated in other BuffUp franchises for several years, and both are certified as BuffUp trainers. They also have business backgrounds, as well as a strong network of clients that are interested in the service.

7.0 Financial Plan

7.1 REQUIREMENTS

BuffUp Lake Oswego requires $45,000 to begin operations. This will be in the form of a line of credit secured from a bank and personally guaranteed by the owners.

7.2 USE OF FUNDS

The funds requested in this personal trainer business plan will be used to lease a commercial space and buy necessary exercise equipment. Marketing expenses and initial accounting software will also be purchased with these funds. A portion of the funds will be used for operating expenses until profits are realized.

7.3 INCOME STATEMENT PROJECTIONS

BuffUp will officially open in January 2009. First year revenues are projected to be $129,375. Revenues will grow to $382,800 in year 5. During the same period, net profit will grow from $36,700 to $186,460.

Details are provided in the attached income statement.

The business will reach break-even once it generates 36 monthly members. BuffUp will become profitable before the end of its first full year.

7.4 BALANCE SHEET

The business will maintain primary assets of equipment and cash. The business will work hard to reduce liabilities with the goal of paying off all liabilities by the end of our third year.

7.5 ASSUMPTIONS

These projections are based on the assumption that fitness trends will continue and competition will remain relatively the same.

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How To Start A Business In 11 Steps (2024 Guide)

Updated: Apr 7, 2024, 1:44pm

Table of Contents

Before you begin: get in the right mindset, 1. determine your business concept, 2. research your competitors and market, 3. create your business plan, 4. choose your business structure, 5. register your business and get licenses, 6. get your finances in order, 7. fund your business, 8. apply for business insurance, 9. get the right business tools, 10. market your business, 11. scale your business, what are the best states to start a business, bottom line, frequently asked questions (faqs).

Starting a business is one of the most exciting and rewarding experiences you can have. But where do you begin? There are several ways to approach creating a business, along with many important considerations. To help take the guesswork out of the process and improve your chances of success, follow our comprehensive guide on how to start a business. We’ll walk you through each step of the process, from defining your business idea to registering, launching and growing your business.

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The public often hears about overnight successes because they make for a great headline. However, it’s rarely that simple—they don’t see the years of dreaming, building and positioning before a big public launch. For this reason, remember to focus on your business journey and don’t measure your success against someone else’s.

Consistency Is Key

New business owners tend to feed off their motivation initially but get frustrated when that motivation wanes. This is why it’s essential to create habits and follow routines that power you through when motivation goes away.

Take the Next Step

Some business owners dive in headfirst without looking and make things up as they go along. Then, there are business owners who stay stuck in analysis paralysis and never start. Perhaps you’re a mixture of the two—and that’s right where you need to be. The best way to accomplish any business or personal goal is to write out every possible step it takes to achieve the goal. Then, order those steps by what needs to happen first. Some steps may take minutes while others take a long time. The point is to always take the next step.

Most business advice tells you to monetize what you love, but it misses two other very important elements: it needs to be profitable and something you’re good at. For example, you may love music, but how viable is your business idea if you’re not a great singer or songwriter? Maybe you love making soap and want to open a soap shop in your small town that already has three close by—it won’t be easy to corner the market when you’re creating the same product as other nearby stores.

If you don’t have a firm idea of what your business will entail, ask yourself the following questions:

• What do you love to do?
• What do you hate to do?
• Can you think of something that would make those things easier?
• What are you good at?
• What do others come to you for advice about?
• If you were given ten minutes to give a five-minute speech on any topic, what would it be?
• What’s something you’ve always wanted to do, but lacked resources for?

These questions can lead you to an idea for your business. If you already have an idea, they might help you expand it. Once you have your idea, measure it against whether you’re good at it and if it’s profitable.

Your business idea also doesn’t have to be the next Scrub Daddy or Squatty Potty. Instead, you can take an existing product and improve upon it. You can also sell a digital product so there’s little overhead.

What Kind of Business Should You Start?

Before you choose the type of business to start, there are some key things to consider:

• What type of funding do you have?
• How much time do you have to invest in your business?
• Do you prefer to work from home or at an office or workshop?
• What interests and passions do you have?
• Can you sell information (such as a course), rather than a product?
• What skills or expertise do you have?
• How fast do you need to scale your business?
• What kind of support do you have to start your business?
• Are you partnering with someone else?
• Does the franchise model make more sense to you?

Consider Popular Business Ideas

Not sure what business to start? Consider one of these popular business ideas:

• Start a Franchise
• Start a Blog
• Start an Online Store
• Start a Dropshipping Business
• Start a Cleaning Business
• Start a Bookkeeping Business
• Start a Clothing Business
• Start a Landscaping Business
• Start a Consulting Business
• Start a Photography Business
• Start a Vending Machine Business

Most entrepreneurs spend more time on their products than they do getting to know the competition. If you ever apply for outside funding, the potential lender or partner wants to know: what sets you (or your business idea) apart? If market analysis indicates your product or service is saturated in your area, see if you can think of a different approach. Take housekeeping, for example—rather than general cleaning services, you might specialize in homes with pets or focus on garage cleanups.

Primary Research

The first stage of any competition study is primary research, which entails obtaining data directly from potential customers rather than basing your conclusions on past data. You can use questionnaires, surveys and interviews to learn what consumers want. Surveying friends and family isn’t recommended unless they’re your target market. People who say they’d buy something and people who do are very different. The last thing you want is to take so much stock in what they say, create the product and flop when you try to sell it because all of the people who said they’d buy it don’t because the product isn’t something they’d buy.

Secondary Research

Utilize existing sources of information, such as census data, to gather information when you do secondary research. The current data may be studied, compiled and analyzed in various ways that are appropriate for your needs but it may not be as detailed as primary research.

Conduct a SWOT Analysis

SWOT stands for strengths, weaknesses, opportunities and threats. Conducting a SWOT analysis allows you to look at the facts about how your product or idea might perform if taken to market, and it can also help you make decisions about the direction of your idea. Your business idea might have some weaknesses that you hadn’t considered or there may be some opportunities to improve on a competitor’s product.

Asking pertinent questions during a SWOT analysis can help you identify and address weaknesses before they tank your new business.

A business plan is a dynamic document that serves as a roadmap for establishing a new business. This document makes it simple for potential investors, financial institutions and company management to understand and absorb. Even if you intend to self-finance, a business plan can help you flesh out your idea and spot potential problems. When writing a well-rounded business plan, include the following sections:

• Executive summary: The executive summary should be the first item in the business plan, but it should be written last. It describes the proposed new business and highlights the goals of the company and the methods to achieve them.
• Company description: The company description covers what problems your product or service solves and why your business or idea is best. For example, maybe your background is in molecular engineering, and you’ve used that background to create a new type of athletic wear—you have the proper credentials to make the best material.
• Market analysis: This section of the business plan analyzes how well a company is positioned against its competitors. The market analysis should include target market, segmentation analysis, market size, growth rate, trends and a competitive environment assessment.
• Organization and structure: Write about the type of business organization you expect, what risk management strategies you propose and who will staff the management team. What are their qualifications? Will your business be a single-member limited liability company (LLC) or a corporation ?
• Mission and goals: This section should contain a brief mission statement and detail what the business wishes to accomplish and the steps to get there. These goals should be SMART (specific, measurable, action-orientated, realistic and time-bound).
• Products or services: This section describes how your business will operate. It includes what products you’ll offer to consumers at the beginning of the business, how they compare to existing competitors, how much your products cost, who will be responsible for creating the products, how you’ll source materials and how much they cost to make.
• Background summary: This portion of the business plan is the most time-consuming to write. Compile and summarize any data, articles and research studies on trends that could positively and negatively affect your business or industry.
• Marketing plan: The marketing plan identifies the characteristics of your product or service, summarizes the SWOT analysis and analyzes competitors. It also discusses how you’ll promote your business, how much money will be spent on marketing and how long the campaign is expected to last.
• Financial plan: The financial plan is perhaps the core of the business plan because, without money, the business will not move forward. Include a proposed budget in your financial plan along with projected financial statements, such as an income statement, a balance sheet and a statement of cash flows. Usually, five years of projected financial statements are acceptable. This section is also where you should include your funding request if you’re looking for outside funding.

Learn more: Download our free simple business plan template .

Come Up With an Exit Strategy

An exit strategy is important for any business that is seeking funding because it outlines how you’ll sell the company or transfer ownership if you decide to retire or move on to other projects. An exit strategy also allows you to get the most value out of your business when it’s time to sell. There are a few different options for exiting a business, and the best option for you depends on your goals and circumstances.

The most common exit strategies are:

• Selling the business to another party
• Passing the business down to family members
• Liquidating the business assets
• Closing the doors and walking away

Develop a Scalable Business Model

As your small business grows, it’s important to have a scalable business model so that you can accommodate additional customers without incurring additional costs. A scalable business model is one that can be replicated easily to serve more customers without a significant increase in expenses.

Some common scalable business models are:

• Subscription-based businesses
• Businesses that sell digital products
• Franchise businesses
• Network marketing businesses

Start Planning for Taxes

One of the most important things to do when starting a small business is to start planning for taxes. Taxes can be complex, and there are several different types of taxes you may be liable for, including income tax, self-employment tax, sales tax and property tax. Depending on the type of business you’re operating, you may also be required to pay other taxes, such as payroll tax or unemployment tax.

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When structuring your business, it’s essential to consider how each structure impacts the amount of taxes you owe, daily operations and whether your personal assets are at risk.

An LLC limits your personal liability for business debts. LLCs can be owned by one or more people or companies and must include a registered agent . These owners are referred to as members.

• LLCs offer liability protection for the owners
• They’re one of the easiest business entities to set up
• You can have a single-member LLC
• You may be required to file additional paperwork with your state on a regular basis
• LLCs can’t issue stock
• You’ll need to pay annual filing fees to your state

Limited Liability Partnership (LLP)

An LLP is similar to an LLC but is typically used for licensed business professionals such as an attorney or accountant. These arrangements require a partnership agreement.

• Partners have limited liability for the debts and actions of the LLP
• LLPs are easy to form and don’t require much paperwork
• There’s no limit to the number of partners in an LLP
• Partners are required to actively take part in the business
• LLPs can’t issue stock
• All partners are personally liable for any malpractice claims against the business

Sole Proprietorship

If you start a solo business, you might consider a sole proprietorship . The company and the owner, for legal and tax purposes, are considered the same. The business owner assumes liability for the business. So, if the business fails, the owner is personally and financially responsible for all business debts.

• Sole proprietorships are easy to form
• There’s no need to file additional paperwork with your state
• You’re in complete control of the business
• You’re personally liable for all business debts
• It can be difficult to raise money for a sole proprietorship
• The business may have a limited lifespan

Corporation

A corporation limits your personal liability for business debts just as an LLC does. A corporation can be taxed as a C corporation (C-corp) or an S corporation (S-corp). S-corp status offers pass-through taxation to small corporations that meet certain IRS requirements. Larger companies and startups hoping to attract venture capital are usually taxed as C-corps.

• Corporations offer liability protection for the owners
• The life span of a corporation is not limited
• A corporation can have an unlimited number of shareholders
• Corporations are subject to double taxation
• They’re more expensive and complicated to set up than other business structures
• The shareholders may have limited liability

Before you decide on a business structure, discuss your situation with a small business accountant and possibly an attorney, as each business type has different tax treatments that could affect your bottom line.

Helpful Resources

• How To Set Up an LLC in 7 Steps
• How To Start a Sole Proprietorship
• How To Start a Corporation
• How To Start a Nonprofit
• How To Start a 501(c)(3)

There are several legal issues to address when starting a business after choosing the business structure. The following is a good checklist of items to consider when establishing your business:

Choose Your Business Name

Make it memorable but not too difficult. Choose the same domain name, if available, to establish your internet presence. A business name cannot be the same as another registered company in your state, nor can it infringe on another trademark or service mark that is already registered with the United States Patent and Trademark Office (USPTO).

Business Name vs. DBA

There are business names, and then there are fictitious business names known as “Doing Business As” or DBA. You may need to file a DBA if you’re operating under a name that’s different from the legal name of your business. For example, “Mike’s Bike Shop” is doing business as “Mike’s Bikes.” The legal name of the business is “Mike’s Bike Shop,” and “Mike’s Bikes” is the DBA.

You may need to file a DBA with your state, county or city government offices. The benefits of a DBA include:

• It can help you open a business bank account under your business name
• A DBA can be used as a “trade name” to brand your products or services
• A DBA can be used to get a business license

Register Your Business and Obtain an EIN

You’ll officially create a corporation, LLC or other business entity by filing forms with your state’s business agency―usually the Secretary of State. As part of this process, you’ll need to choose a registered agent to accept legal documents on behalf of your business. You’ll also pay a filing fee. The state will send you a certificate that you can use to apply for licenses, a tax identification number (TIN) and business bank accounts.

Next, apply for an employer identification number (EIN) . All businesses, other than sole proprietorships with no employees, must have a federal employer identification number. Submit your application to the IRS and you’ll typically receive your number in minutes.

Get Appropriate Licenses and Permits

Legal requirements are determined by your industry and jurisdiction. Most businesses need a mixture of local, state and federal licenses to operate. Check with your local government office (and even an attorney) for licensing information tailored to your area.

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Open a Business Bank Account

Keep your business and personal finances separate. Here’s how to choose a business checking account —and why separate business accounts are essential. When you open a business bank account, you’ll need to provide your business name and your business tax identification number (EIN). This business bank account can be used for your business transactions, such as paying suppliers or invoicing customers. Most times, a bank will require a separate business bank account to issue a business loan or line of credit.

Hire a Bookkeeper or Get Accounting Software

If you sell a product, you need an inventory function in your accounting software to manage and track inventory. The software should have ledger and journal entries and the ability to generate financial statements.

Some software programs double as bookkeeping tools. These often include features such as check writing and managing receivables and payables. You can also use this software to track your income and expenses, generate invoices, run reports and calculate taxes.

There are many bookkeeping services available that can do all of this for you, and more. These services can be accessed online from any computer or mobile device and often include features such as bank reconciliation and invoicing. Check out the best accounting software for small business, or see if you want to handle the bookkeeping yourself.

Determine Your Break-Even Point

Before you fund your business, you must get an idea of your startup costs. To determine these, make a list of all the physical supplies you need, estimate the cost of any professional services you will require, determine the price of any licenses or permits required to operate and calculate the cost of office space or other real estate. Add in the costs of payroll and benefits, if applicable.

Businesses can take years to turn a profit, so it’s better to overestimate the startup costs and have too much money than too little. Many experts recommend having enough cash on hand to cover six months of operating expenses.

When you know how much you need to get started with your business, you need to know the point at which your business makes money. This figure is your break-even point.

In contrast, the contribution margin = total sales revenue – cost to make product

For example, let’s say you’re starting a small business that sells miniature birdhouses for fairy gardens. You have determined that it will cost you $500 in startup costs. Your variable costs are $0.40 per birdhouse produced, and you sell them for $1.50 each.

Let’s write these out so it’s easy to follow:

This means that you need to sell at least 456 units just to cover your costs. If you can sell more than 456 units in your first month, you will make a profit.

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There are many different ways to fund your business—some require considerable effort, while others are easier to obtain. Two categories of funding exist: internal and external.

Internal funding includes:

• Personal savings
• Credit cards
• Funds from friends and family

If you finance the business with your own funds or with credit cards, you have to pay the debt on the credit cards and you’ve lost a chunk of your wealth if the business fails. By allowing your family members or friends to invest in your business, you are risking hard feelings and strained relationships if the company goes under. Business owners who want to minimize these risks may consider external funding.

External funding includes:

• Small business loans
• Small business grants
• Angel investors
• Venture capital
• Crowdfunding

Small businesses may have to use a combination of several sources of capital. Consider how much money is needed, how long it will take before the company can repay it and how risk-tolerant you are. No matter which source you use, plan for profit. It’s far better to take home six figures than make seven figures and only keep $80,000 of it.

Funding ideas include:

• Invoice factoring: With invoice factoring , you can sell your unpaid invoices to a third party at a discount.
• Business lines of credit: Apply for a business line of credit , which is similar to a personal line of credit. The credit limit and interest rate will be based on your business’s revenue, credit score and financial history.
• Equipment financing: If you need to purchase expensive equipment for your business, you can finance it with a loan or lease.
• Small Business Administration (SBA) microloans: Microloans are up to $50,000 loans that can be used for working capital, inventory or supplies and machinery or equipment.
• Grants: The federal government offers grants for businesses that promote innovation, export growth or are located in historically disadvantaged areas. You can also find grants through local and regional organizations.
• Crowdfunding: With crowdfunding , you can raise money from a large group of people by soliciting donations or selling equity in your company.

Choose the right funding source for your business by considering the amount of money you need, the time frame for repayment and your tolerance for risk.

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You need to have insurance for your business , even if it’s a home-based business or you don’t have any employees. The type of insurance you need depends on your business model and what risks you face. You might need more than one type of policy, and you might need additional coverage as your business grows. In most states, workers’ compensation insurance is required by law if you have employees.

Work With an Agent To Get Insured

An insurance agent can help determine what coverages are appropriate for your business and find policies from insurers that offer the best rates. An independent insurance agent represents several different insurers, so they can shop around for the best rates and coverage options.

Basic Types of Business Insurance Coverage

• Liability insurance protects your business against third-party claims of bodily injury, property damage and personal injury such as defamation or false advertising.
• Property insurance covers the physical assets of your business, including your office space, equipment and inventory.
• Business interruption insurance pays for the loss of income if your business is forced to close temporarily due to a covered event such as a natural disaster.
• Product liability insurance protects against claims that your products caused bodily injury or property damage.
• Employee practices liability insurance covers claims from employees alleging discrimination, sexual harassment or other wrongful termination.
• Workers’ compensation insurance covers medical expenses and income replacement for employees who are injured on the job.
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Business tools can help make your life easier and make your business run more smoothly. The right tools can help you save time, automate tasks and make better decisions.

Consider the following tools in your arsenal:

• Accounting software : Track your business income and expenses, prepare financial statements and file taxes. Examples include QuickBooks and FreshBooks.
• Customer relationship management (CRM) software : This will help you manage your customer relationships, track sales and marketing data and automate tasks like customer service and follow-ups. Examples include Zoho CRM and monday.com.
• Project management software : Plan, execute and track projects. It can also be used to manage employee tasks and allocate resources. Examples include Airtable and ClickUp.
• Credit card processor : This will allow you to accept credit card payments from customers. Examples include Stripe and PayPal.
• Point of sale (POS) : A system that allows you to process customer payments. Some accounting software and CRM software have POS features built-in. Examples include Clover and Lightspeed.
• Virtual private network (VPN) : Provides a secure, private connection between your computer and the internet. This is important for businesses that handle sensitive data. Examples include NordVPN and ExpressVPN.
• Merchant services : When customers make a purchase, the money is deposited into your business account. You can also use merchant services to set up recurring billing or subscription payments. Examples include Square and Stripe.
• Email hosting : This allows you to create a professional email address with your own domain name. Examples include G Suite and Microsoft Office 365.

Many business owners spend so much money creating their products that there isn’t a marketing budget by the time they’ve launched. Alternatively, they’ve spent so much time developing the product that marketing is an afterthought.

Create a Website

Even if you’re a brick-and-mortar business, a web presence is essential. Creating a website doesn’t take long, either—you can have one done in as little as a weekend. You can make a standard informational website or an e-commerce site where you sell products online. If you sell products or services offline, include a page on your site where customers can find your locations and hours. Other pages to add include an “About Us” page, product or service pages, frequently asked questions (FAQs), a blog and contact information.

Optimize Your Site for SEO

After getting a website or e-commerce store, focus on optimizing it for search engines (SEO). This way, when a potential customer searches for specific keywords for your products, the search engine can point them to your site. SEO is a long-term strategy, so don’t expect a ton of traffic from search engines initially—even if you’re using all the right keywords.

Create Relevant Content

Provide quality digital content on your site that makes it easy for customers to find the correct answers to their questions. Content marketing ideas include videos, customer testimonials, blog posts and demos. Consider content marketing one of the most critical tasks on your daily to-do list. This is used in conjunction with posting on social media.

Get Listed in Online Directories

Customers use online directories like Yelp, Google My Business and Facebook to find local businesses. Some city halls and chambers of commerce have business directories too. Include your business in as many relevant directories as possible. You can also create listings for your business on specific directories that focus on your industry.

Develop a Social Media Strategy

Your potential customers are using social media every day—you need to be there too. Post content that’s interesting and relevant to your audience. Use social media to drive traffic back to your website where customers can learn more about what you do and buy your products or services.

You don’t necessarily need to be on every social media platform available. However, you should have a presence on Facebook and Instagram because they offer e-commerce features that allow you to sell directly from your social media accounts. Both of these platforms have free ad training to help you market your business.

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To scale your business, you need to grow your customer base and revenue. This can be done by expanding your marketing efforts, improving your product or service, collaborating with other creators or adding new products or services that complement what you already offer.

Think about ways you can automate or outsource certain tasks so you can focus on scaling the business. For example, if social media marketing is taking up too much of your time, consider using a platform such as Hootsuite to help you manage your accounts more efficiently. You can also consider outsourcing the time-consumer completely.

You can also use technology to automate certain business processes, including accounting, email marketing and lead generation. Doing this will give you more time to focus on other aspects of your business.

When scaling your business, it’s important to keep an eye on your finances and make sure you’re still profitable. If you’re not making enough money to cover your costs, you need to either reduce your expenses or find ways to increase your revenue.

Build a Team

As your business grows, you’ll need to delegate tasks and put together a team of people who can help you run the day-to-day operations. This might include hiring additional staff, contractors or freelancers.

Resources for building a team include:

• Hiring platforms: To find the right candidates, hiring platforms, such as Indeed and Glassdoor, can help you post job descriptions, screen résumés and conduct video interviews.
• Job boards: Job boards such as Craigslist and Indeed allow you to post open positions for free.
• Social media: You can also use social media platforms such as LinkedIn and Facebook to find potential employees.
• Freelance platforms: Using Upwork, Freelancer and Fiverr can help you find talented freelancers for one-time or short-term projects. You can also outsource certain tasks, such as customer service, social media marketing or bookkeeping.

You might also consider partnering with other businesses in your industry. For example, if you’re a wedding planner, you could partner with a florist, photographer, catering company or venue. This way, you can offer your customers a one-stop shop for all their wedding needs. Another example is an e-commerce store that partners with a fulfillment center. This type of partnership can help you save money on shipping and storage costs, and it can also help you get your products to your customers faster.

To find potential partnerships, search for businesses in your industry that complement what you do. For example, if you’re a web designer, you could partner with a digital marketing agency.

You can also search for businesses that serve the same target market as you but offer different products or services. For example, if you sell women’s clothing, you could partner with a jewelry store or a hair salon.

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To rank the best states to start a business in 2024, Forbes Advisor analyzed 18 key metrics across five categories to determine which states are the best and worst to start a business in. Our ranking takes into consideration factors that impact businesses and their ability to succeed, such as business costs, business climate, economy, workforce and financial accessibility in each state. Check out the full report .

Starting a small business takes time, effort and perseverance. But if you’re willing to put in the work, it can be a great way to achieve your dreams and goals. Be sure to do your research, create a solid business plan and pivot along the way. Once you’re operational, don’t forget to stay focused and organized so you can continue to grow your business.

How do I start a small business with no money?

There are several funding sources for brand-new businesses and most require a business plan to secure it. These include the SBA , private grants, angel investors, crowdfunding and venture capital.

What is the best business structure?

The best business structure for your business will depend entirely on what kind of company you form, your industry and what you want to accomplish. But any successful business structure will be one that will help your company set realistic goals and follow through on set tasks.

Do I need a business credit card?

You don’t need one, but a business credit card can be helpful for new small businesses. It allows you to start building business credit, which can help you down the road when you need to take out a loan or line of credit. Additionally, business credit cards often come with rewards and perks that can save you money on business expenses.

Do I need a special license or permit to start a small business?

The answer to this question will depend on the type of business you want to start and where you’re located. Some businesses, such as restaurants, will require a special permit or license to operate. Others, such as home daycare providers, may need to register with the state.

How much does it cost to create a business?

The cost of starting a business will vary depending on the size and type of company you want to create. For example, a home-based business will be less expensive to start than a brick-and-mortar store. Additionally, the cost of starting a business will increase if you need to rent or buy commercial space, hire employees or purchase inventory. You could potentially get started for free by dropshipping or selling digital goods.

How do I get a loan for a new business?

The best way to get a loan for a new business is to approach banks or other financial institutions and provide them with a business plan and your financial history. You can also look into government-backed loans, such as those offered by the SBA. Startups may also be able to get loans from alternative lenders, including online platforms such as Kiva.

Do I need a business degree to start a business?

No, you don’t need a business degree to start a business. However, acquiring a degree in business or a related field can provide you with the understanding and ability to run an effective company. Additionally, you may want to consider taking some business courses if you don’t have a degree to learn more about starting and running a business. You can find these online and at your local Small Business Administration office.

What are some easy businesses to start?

One of the easiest businesses to start also has the lowest overhead: selling digital goods. This can include items such as e-books, online courses, audio files or software. If you have expertise in a particular area or niche, this is a great option for you. Dropshipping is also a great option because you don’t have to keep inventory. You could also buy wholesale products or create your own. Once you create your product, you can sell it through your own website or third-party platforms such as Amazon or Etsy.

What is the most profitable type of business?

There is no one answer to this question because the most profitable type of business will vary depending on a number of factors, such as your industry, location, target market and business model. However, some businesses tend to be more profitable than others, such as luxury goods, high-end services, business-to-business companies and subscription-based businesses. If you’re not sure what type of business to start, consider your strengths and interests, as well as the needs of your target market, to help you choose a profitable business idea.

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Katherine Haan is a small business owner with nearly two decades of experience helping other business owners increase their incomes.

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