Writing a business plan for a gym? In most mid-sized and large U.S. cities, the fitness market does not lack competitors. Therefore, you will need to show that you have the ability to offer something new or, in the alternative, that you can outperform other gyms in the area through more aggressive promotion, discount specials, personal training incentives, or other ancillary services. What makes your gym better than chains like 24 Hour Fitness or LA Fitness? Will you be better able to connect with local people through grassroots marketing, or do you have a unique vision for how to create a more inviting or comprehensive gym experience? Will you add supporting services like daycare, a juice bar, retail shop, etc.? These are the sort of questions to think about before you undertake a business plan for a gym. Other considerations:
• - What will your personnel needs be during start-up and through 5 years of operation?
• - What are your start-up expenses, by category?
• - How much funding do you need?
• - If you envision bringing an investor on board, what multiple will you use to value your business and what might their ownership share be at inception?
• - If you have unique marketing ideas, do you know what your budget will be for them?
• - Do you have access to the market research you will need to show that there is a solid market opportunity?
The financial projection for your gym should include 5 years of projections – cash flow, balance sheet, revenue projections, break-even point and other key metrics. If you can't access the reports or databases you need for the market analysis or you aren't comfortable preparing a full pro forma, you could benefit from outsourcing the entire business plan production process to a specialty firm like MasterPlans. We have worked on dozens of gym projects – both for common U.S. chains and single-location start-ups – and we can help you as well. Our in-house team of marketing experts, researchers, and financial modelers will deliver you an airtight business plan ready to be submitted for funding. Consultations are always free. Call us at 877-453-2011.
