Fitness Center Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Fitness Center Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Fitness Center business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
Your Business Planning Package will be immediately emailed to you after you make your purchase.
Product Specifications (please see images below):
- Bank/Investor Ready
- Complete Industry Research for the Industry
- 3 Year Excel Financial Model
- Business Plan (26 to 30 pages)
- Marketing Plan (24 to 28 pages)
- 425+ Page Funding Directory
- PowerPoint Presentation
- Loan Amortization and ROI Tools
- Three SWOT Analysis Templates
- How to Start a Business Guide
- Easy to Use Instructions
- All Documents Delivered in Word, Excel, and PowerPoint Format
- Meets SBA Requirements
One of the best aspects of fitness centers is that they are able to generate highly recurring streams of revenue from memberships that are sold to the general public. The barriers to entry for new fitness center are relatively high given the substantial amount of space required as well as a significant inventory of gym equipment that must be put in the property as well. Most banks and lenders are willing to provide the necessary capital in order to start a fitness center business given the large tangible asset base as well as the highly recurring streams of revenue for monthly billings. Usually, an entrepreneur looking to start one of these businesses should be prepared to make a 10% to 20% down payment in order to get funding for a bank. This capital injection is usually used for working capital purposes. One of the minor drawbacks to owning and operating a fitness center is at these companies usually face a significant amount of competition from national level competitors. However, many people have chosen to enroll themselves in locally owned businesses in order to support small business owners and the regional economy.
If an entrepreneur is looking to develop a fitness center with capital from a financial institution or investor then they are going to need a business plan. As with any capital raising document, a three-year profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, and business ratios page should be developed to showcase to a potential funding source that the fitness center will be economically viable. Within the business plan a full examination of the economy, local market, population size, population density, median household income, median family income, and other demographics should be thoroughly discussed as well. A thorough examination of the local competition should be rated against what the fitness center will provide to the general public.
Of utmost importance to developing a new fitness center, a marketing plan should be developed. This marketing plan should focus significantly on how to obtain new customers at the onset of operations and through the life of the business. Special importance should be paid to developing an online marketing campaign given that most people now find local businesses through the Internet. An expansive website that showcases the facilities, classes offered, monthly enrollment fees, class fees, hours of operation, and location information should be prominently displayed throughout the website. Additionally, many fitness centers look to develop ongoing referral relationships with physical therapists, occupational therapist, nutritionists, and dietitians. Referrals are of special importance to a fitness center given that once an individual is referred to the company they very likely become a customer.
A fitness center SWOT analysis should also be developed. This documentation accompanies the business plan and marketing plan and it focuses on the strengths, weaknesses, opportunities, and threats that are faced by most fitness centers. As it relates to strengths, a fitness center is able to generate highly recurring streams of revenue from monthly billings to customers as well as highly predictable streams revenue from classes. For weaknesses, these companies often have very high operating costs given that they need to maintain an expansive facility in order to house all the gym and fitness center equipment. For opportunities, many fitness centers take to integrating specialized services such as yoga classes, Pilates classes, as well as specialized services in order to boost their revenues. Many fitness centers have taken to hiring dietitians and nutritionists are able to render their services on staff as an independent contractor. For threats, and economic recession can impact the revenues of these companies given that people will generally cancel their gym memberships during times of economic strife.
Overall, a fitness center can be a highly lucrative small business investment given the highly predictable streams of revenue generated on monthly basis. It is imperative that an owner operator understand how these businesses work given the extensive amount of competition that can be found in any local market.