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Making a Risk Management Plan for Your Business
It’s impossible to eliminate all business risk. Therefore, it’s essential for having a plan for its management. You’ll be developing one covering compliance, environmental, financial, operational and reputation risk management. These guidelines are for making a risk management plan for your business.
Developing Your Executive Summary
When you start the risk management plan with an executive summary, you’re breaking apart what it will be compromised of into easy to understand chunks. Even though this summary is the project’s high-level overview, the goal is describing the risk management plan’s approach and scope. In doing so, you’re informing all stakeholders regarding what to expect when they’re reviewing these plans so that they can set their expectations appropriately.
Who Are the Stakeholders and What Potential Problems Need Identifying?
During this phase of making the risk management plan, you’re going to need to have a team meeting. Every member of the team must be vocal regarding what they believe could be potential problems or risks. Stakeholders should also be involved in this meeting as well to help you collect ideas regarding what could become a potential risk. All who are participating should look at past projects, what went wrong, what is going wrong in current projects and what everyone hopes to achieve from what they learned from these experiences. During this session, you’ll be creating a sample risk management plan that begins to outline risk management standards and risk management strategies.
Evaluate the Potential Risks Identified
A myriad of internal and external sources can pose as risks including commercial, management and technical, for example. When you’re identifying what these potential risks are and have your list complete, the next step is organizing it according to importance and likelihood. Categorize each risk according to how it could impact your project. For example, does the risk threaten to throw off timelines or budgets? Using a risk breakdown structure is an effective way to help ensure all potential risks are effectively categorized and considered. Use of this risk management plan template keeps everything organized and paints a clear picture of everything you’re identifying.
Assign Ownership and Create Responses
It’s essential to ensure a team member is overseeing each potential risk. That way, they can jump into action should an issue occur. Those who are assigned a risk, as well as the project manager, should work as a team to develop responses before problems arise. That way, if there are issues, the person overseeing the risk can refer to the response that was predetermined.
Have a System for Monitoring
Having effective risk management companies plans includes having a system for monitoring. It’s not wise to develop a security risk management or compliance risk management plan, for example, without having a system for monitoring. What this means is there’s a system for monitoring in place to ensure risk doesn’t occur until the project is finished. In doing so, you’re ensuring no new risks will potentially surface. If one does, like during the IT risk management process, for example, your team will know how to react.
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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. Find him on LinkedIn!
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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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Introduction
How to write a personal trainer business plan.
Why You Need a Personal Trainer Business Plan
Personal trainer business plan template, business plan step by step.
- Google/Facebook Ads
- Social media
- Referral cards
- Media/Press
- Speaking to potential clients in the gym
Personal Trainer Business Plan Conclusion
Got questions about this lesson, trusted services.
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 out 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.
Starting your own personal trainer business can be tough which is why our guide is here to help! We’ll run through the process step-by-step so that you feel prepared, giving some personal trainer business plan examples along the way!
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 OriGym’s specialist Level 4 courses , you’re able to set yourself apart from the competition with a bespoke specialism, and ensure that your business can thrive in a competitive industry.
You can download our free course prospectus to find out more !
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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 much you earn
- 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 .
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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.
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!
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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.
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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 personal trainer studio business plan, 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.
For example, Facebook tends to be used by an older generation of users so this should be one of the predominant platforms you use if you’re catering to an older age range.
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 in order 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:
- How to Use Google My Business as a Personal Trainer
- Personal Trainer Social Media: Ideas, Examples & Schedule
- How to Do Personal Training Advertising
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.
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 been doing religiously over lockdown.
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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 500 entrepreneurs and business owners create business plans to start and grow their personal training companies.
If you’re unfamiliar with creating a personal training business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. 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 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
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 training 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.
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 guide 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 training 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 training 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.
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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.
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.
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
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Other Helpful Business Plan Articles & Templates
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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If you’re thinking, What? Personal training business plan? Does that even exist?
The answer to that would be YES! They definitely do. But it is usually absent in the personal training profession. One of the reasons being time. Writing a plan takes time.
In the personal training business, time is highly valuable. Because of which planning takes the back seat.
But is that really the right way to go about it?
How does a personal training business plan help trainers achieve more in less time?
More importantly, what happens when planning isn’t done beforehand?
Lack of a vision and not planning appropriately might be the reason why things start going downhill for some excellent personal trainers.
The journey looks somewhat like this –
To be able to help more and more clients and grow as a business owner, you need to formulate a plan. This plan will help you on every step of your journey, from a beginner to a successful personal trainer.
When you have a clear understanding of what your goal is, you’ll know exactly what you need to do for your business to succeed. Because of this detailed laid-out plan, even when things go south; you’ll get out of the fix in no time.
But when you start thinking about it, a few questions pop up:
- What is a business plan ?
- Why do you need a personal training business plan ?
- What are the benefits of a personal training business plan ?
- How to create a personal training business plan ?
Let’s dive in right away and find the answers to all these questions. We’ve also curated a detailed personal training business plan template for you. Find it in the end. (or jump directly to it )!
What is a business plan?
Regardless of what kind of business you’re in, a business plan definitely prepares the ground. To succeed in any business, you need to bring your ‘A-game’ to the field.
I will prepare and one day my time will come. Abraham Lincoln
Think of a business plan as a roadmap to success. It provides greater clarity on various aspects of your business. These can be operational, marketing and finance, or even product/ service details.
The purpose of a business plan is to articulate a strategy for starting or expanding a business. You must know –
- What do you have to do?
- Why do you have to do it?
- How will you do it?
- By when do you intend to finish doing it?
A business plan gives you insight into the steps you need to take. You can also list down the resources you need for achieving your business goals. When you research and spend time carefully accessing every detail of your business plan, you also set a timeline for anticipated results.
A personal trainer business plan does all this but it is focused on growing personal trainers and personal training business owners or just for people who plan on making it big in the personal training business.
Why do you need a personal training business plan?
You must know the answer to the ‘why’ before you get to the ‘how’.
People seldom think that business planning is something only big corporations do, where they have to meet deadlines and quarterly goals and whatnot. It’s safe to say that they can’t be farther from the truth. You can count on it for the following reasons –
- Gives you new ideas for growth: Every big business was once a small business. For existing small businesses, a business plan should be updated annually as a way to guide growth and navigate the expansion into new markets. Think of a business plan as a map to guide you to success.
- Gets you going: When you come up with a personal training studio business plan, you take the first step towards your end goal of being a successful personal trainer. It helps you stay focused and puts you in control. A well-implemented business plan for personal training leads you where you want to go.
- Time and resource management: You can allocate resources well and prepare for uncertainties ahead of time. It helps you manage your limited time efficiently and focus your efforts on the things that matter the most.
- Helps get funding: A personal training business plan isn’t only for your own guidance. You can also use this as a pitch to get funding or business partners. A detailed and well-laid out business plan helps you persuade investors that funding your business is a smart decision.
Arnold once said, “Have a clear vision, because then you never go to the gym and say, “Today, I feel down a little bit, I don’t know what it’s all about.”
You need to know what you’re doing and why you’re doing it so you never suffer from a lack of motivation and always keep working towards your goals.
Having that tunnel vision towards your goal is the ultimate key to creating a successful business.
On top of that, a plan also helps you know your client better, provide them better services, market your business efficiently, scale up, and generate more revenue.
What are the benefits of having a personal training business plan?
- It creates goals and objectives – An end goal or a vision is something that helps you put in the hours every day. Completing each checkpoint boosts morale and brings you a step closer to your end goal.
- Generates structure and organization – regardless of whether you’re a one-man show for your business or you have a team working for you, having a business plan means giving structure to your ideas. By doing things in order, you can utilize your time and resources to the fullest by focusing on one thing at any given stage.
- Helps you understand business concepts – You might have a strong grasp of everything happening under your own roof, but it is equally important to understand the market as well. Putting together a well-written business plan requires business owners to ask themselves hard questions and come up with well-thought-out and well-researched answers.
- You can engage with your target market better – When you write a business plan, a lot of time goes into finding your USP and your ideal customer profile. When a business owner understands these two things about their business, they can concentrate their efforts on marketing to their target audience and help them in a better way.
Knowing how to write a good business plan will pay off in many different ways. It serves as more than an internal guide. If you’re trying to secure funding for your business, you can pitch this business plan to your potential investors as well.
As employees or other partners come aboard, it helps ensure that all workers share the same vision and that you’re all following the same path.
How to create a personal training business plan?
Creating a business plan is a fairly simple process. You don’t need a ton of resources. What you do need is dedication and a good amount of time. As a personal training business plan sets the groundwork for all future actions, it is paramount that you spend time researching the best possible answers to all the questions we’ve described below.
1. Your long-term goal
This is what you call your mission statement. Take a few moments to close your eyes and imagine your business when it has hit its peak. Think about how big it is? 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.
2. Value proposition
This is where you think whether you want to provide a variety of class types to service a broader audience? Or you want to serve a niche making your service unique?
What you do best and how can you use that to provide the best possible service to your clients. Depending on your specialty, this can be helping your clients with weight loss, diet planning, strength and conditioning training, or designing fitness programs for youth.
This is the part where you come up with your unique selling point (USP) which will later help you market your business effectively.
3. Market analysis
When you’ve decided on your niche, it’s time to do market research. Collecting information that is valuable to your business is a crucial part of market analysis. With this information, you can deduce the viability of the service you provide in your target area.
Find out where do the people who can afford personal training live, their training needs, an estimate of their income range, and the dominant demographic.
To understand what’s happening locally, hop online and check out all the personal training facilities in and around your area. This is called competitor research . You can also talk to locals and hand out questionnaires, do surveys and interviews as well. Ask them why they chose their current gym?
From a national perspective – you can turn to Google, follow famous and successful personal trainers on their social media platforms and take note of things they’re doing right. This realistic information is difficult to find in one place.
4. Marketing strategy
After you’ve found all the information you need about your competition and your target audience, it’s time to strategize how to use this information to your benefit. Layout a plan on how to get more clients. Decide which promotional methods you will use.
You also need to figure out some techniques which help you retain your clients better. All this is pretty challenging if you don’t have some direction to move ahead in.
Worry not. We’ve curated some simple, low investment, high ROI personal training marketing ideas. Check out this blog to get more personal training clients.
5. Business structure
As your business grows, so will your responsibilities. A lot of clients with training space in multiple locations is where you eventually want to end up, right? This calls for some business structure. Your business structure determines how much you pay in taxes, your ability to raise money, your personal liability, and the paperwork you need to file.
All your limitations and exemptions will also be decided by the structure of your business.
Business structures in the US are – sole proprietorship, partnership, limited liability, and corporation. All of these have different pros and cons depending on your need and the stage of your business.
6. Service and product offerings
Ideally, we all want to accomplish and complete all our goals, but realistically that doesn’t always happen. So you gotta prepare a failsafe. In the case of a business, that will be another source of revenue.
Typically a personal training business provides services. But you can offer your clients some sort of product as well. This won’t only act as a failsafe mechanism, but also as an additional source that can earn you lots of profit. Products can range from protein powders to gym merchandise, to gym equipment. Anything that can help your clients is a good start.
In this section, you need to share what your plan for these services looks like.
7. Financial Plan
Before you start implementing, you need to make sure that the plan is financially sound. We don’t want some numbers to take us down. In this section, you should include:
- Startup costs – What do you need to pay for before you go into business? This can be rent that you need to pay in advance if you’re leasing out some space to train your clients. Keep enough cash reserved to pay for expenses that a personal trainer incurs in the beginning stage of their business.
- Operational costs – How much will you spend to run your business? This can include per month rental costs, maintenance, replacing equipment, the cost associated with the software, costs of hiring staff, marketing 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’re making some investments in your business, then you can’t make a profit right away. For example – If you pay $200 advance rent for the space that you use to train your clients, then you will start earning profit only after you’ve made those $200 back. This can show how long it should take before you start making a profit.
This section would help understand what you need to do to keep your business financially viable. It will show whether the business model you’ve come up with is realistic or not or if you need to make adjustments to prices or costs to hit your earning goal.
8. Implementation Plan
Now that you’ve assembled all the necessary information and essential components of your plan, you should explain how you’ll combine them to launch or expand your business in this section.
You have to provide a timeline with realistic deadlines. List key target dates and mention objectives that you need to complete against those dates.
And there you go. Your personal training business plan is ready!
As a certified personal trainer and a business owner, you’ll get clients who are looking to improve their health and lives. This also means that once you have a steady stream of in-flowing clients, managing your scheduling will get tougher with each client and every commitment.
Now we know that you love helping people through training, but from the perspective of a business owner, you don’t want to spend all your time doing just that. You need to pay attention to other aspects of a personal training business too, like managerial work, administrative work, marketing, and building relationships with your existing clients.
Some of the problems that personal trainers face are –
- Attending to calls for scheduling appointments with clients means less time to focus on business . Either the trainer has to double up as a receptionist or decrease the training time in a day to focus on other things. The problem with hiring a professional is that it puts strain on their wallets in the early stage of business.
- Increasing the reach to a larger audience is not easy . Trainers always need to come up with effective ideas to market their personal training business. Having a balanced marketing approach with both physical and online marketing strategies is key to gaining a large audience.
- Keeping track of all the appointments scheduled for the day and then sort of negotiating with clients who want to work out at a specific time. This can be challenging if you have places to go and manage your own time.
- When the booking volume increases, tracking rescheduled or canceled appointments and letting other clients know that you’re free for that particular time slot can get difficult as well.
If there is a team of personal trainers who provide sessions at different gyms or outdoor locations at different times, then it becomes complicated for the business owners to know all their schedules at all times.
Because of all this, a personal trainer might panic at a later stage in their business and as a result, lose valuable clients.
What if there was a solution to all this, which could help a personal trainer in all these departments.
Well actually, THERE IS!
Appointy’s scheduling software for personal trainers can take care of all your appointment scheduling needs, send personalized email reminders, and even manage your admin work too.
What’s more? IT IS FREE! Register and you’re ready to grow!
Final thoughts + Free template
A personal training business plan is never complete. Every time your business changes its direction, or when the plan has simply run its course, you’ll need to revisit and update it accordingly.
If you think maybe it’s time to change your business plan, you’re probably right. So keep updating it and always be prepared.
Want a template to get you started?
Check out this personal training business plan template that we’ve curated for you.
Download the free personal training business plan template!
Save it or print it out and use it to create a robust business plan!
Yay! You are one step ahead in a successful personal training business!
Although starting a personal training business might be daunting in the beginning but if you are determined, then it’s not long before you start making visible progress.
When you’re ready beforehand, you’re no longer unsure about the steps you need to take at any stage of your business. This majorly helps a business owner minimize mistakes and maximize efficiency.
Happy planning!
About Appointy We at Appointy, help business owners grow and run their businesses with our online scheduling software. This blog was a part of our ‘Manage your Business’ category, where we provide expert tips, and resources, or simply talk about the challenges that small and medium businesses face every day. If you have any thoughts on this blog or would like to chat about your business struggles and achievements, let us know in the comments below. We love a good talk!
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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 Example
JUN.11, 2021
Personal trainer business plan for starting your own business
Starting your own business is the only shot you have at financial freedom. If you want a good lifestyle, no job can make that possible for you. Investment is one of the biggest hurdles in starting your own business and that’s why we have brought this business plan for a personal trainer that can be started with relatively low starting capital.
If you are interested in knowing how to open a personal training business, the most important thing that you need to make is a strategic business plan for your personal trainers business plan . This is the thing that will make your business a success. Most of the things that we will discuss here are also true for a yoga studio business plan . Let’s see what it takes to start and establish a personal trainer business.
Personal Trainers Business Plan Summary
2.1 the business.
Bruce Personal Fitness will be a licensed and bonded personal trainer provider company based in Chicago, Ohio. Bruce Jackson is starting a personal training business plan because he is an experienced personal trainer looking to start a business rather than doing a job.
2.2 Management of Personal Training
One of the most important things to consider when you want to make a personal trainers business plan for bank to get a loan for the business is to have a management plan for the venture. This is important because if you go to any bank to get the financing, the first thing they’ll ask you is how to set up a personal training business and having a proper reply for that is what you need to successfully secure the loan.
Bruce will manage the business himself but will hire a manager to look after the daily things while he himself focuses on other important things of the business, like finding clients and providing the right fitness and personal trainer to the right client.
2.3 Customers of Personal Training
The next thing you need to know if you want to learn how to start a personal training business is the customers that you will be providing the services to. Unlike a dance studio business plan where all the customers are of the same category, the personal trainer business will have a diverse range of customers.
The customers of our will be:
- People looking to get in shape.
- People recovering from physical trauma.
- Schools that need a personal trainer for their students.
- Organizations looking for personal trainers for their employees.
2.4 Business Target
Our targets are:
- To maintain a customer satisfaction rate of more than 95%.
- To provide personal trainer services of the highest quality to all people.
- To make permanent clients from the education and corporate sector.
- To become the leading personal trainer provider in the US.
Company Summary
3.1 company owner.
Bruce Jackson will be the owner and CEO of the company. He has decided to start this business after going through a lot of personal trainers’ business plan examples. He has a lot of experience and contacts in the field owing to his many years of work in this industry.
3.2 Why the Personal Trainer Business is being started?
Brusce is starting a personal training business because he has seen the need for one in the area. There is a serious demand of personal trainers in Chicago and there’s hardly any good service provider in the area. This, coupled with the fact that Bruce is a very experienced man of the field, makes it the right choice to start this business.
3.3 How the Personal Trainer Business will be started?
Step1: Making a Detailed Personal Training Studio Business Plan
The first and the most important part of any sample business plan for personal trainer is planning. This is the phase where the strategy for the business will be made and a strategy for realizing the goals and targets of the business will be decided. Bruce will hire a professional personal trainers business plan to make the plan that will guide the business to success.
Step2: Branding
The people who look for a personal trainer are mostly the ones who are brand conscious and want to get all their services and products from established brands. Substantial time and effort and a sizable budget will be invested in making a brand for the business.
Step3: Establish and Office and a Website
After the plan for the business is complete and the brand has been made, the next step will be to actually establish the business. For this, we will outfit an office to serve as the headquarter and will launch a website so that people can reach out to the business online.
Step4: Marketing
Promotion and marketing are also very important in establishing any business and all methods will be used to make out brand and business known to anyone who can be a customer in the future. We need enough marketing power to make sure that whenever someone mentions a personal trainer, Bruce Personal Fitness is the thing that comes to mind.
Services of Personal Trainer Business
No personal trainer business plan template can be complete without discussing the services that the business will be providing. It is cardinally important to have a clear detail of the services to be provided in order to make a personal trainer studio business plan to be a successful one.
Another thing to note is that the personal trainer field is a very complicated and diverse one and we need to target the correct services, the ones that can bring us the most business.
Here are the main services that Bruce Personal Fitness will be providing.
- Body Transformations Training
This will be the main service provided by Bruce Personal Fitness because this is the main purpose for which people want a personal trainer.
- Physical Stamina Improvement Training
Doing too much exercise is not always the best way to increase stamina. We will provide personal trainers that can help people increase their body’s stamina and performance by smart work rather than hard work.
- Psychological Stamina Improvement Training
Another service that we will be providing will be that of psychological stamina improvement. This will be for the people who lack willpower and emotional stability, and their lives suffer because of this.
- Motivational Lectures
The job of personal trainers goes beyond physical or psychological realms. Sometimes, the client needs something more than that and that’s where having a motivational speaker comes in. We’ll provide these services for individuals as well as institutions.
Marketing Analysis of a Business Consulting Company
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The next thing that you must do in order to know how to write a personal trainer business plan is how to do the marketing analysis for the business. This is the part where you factor in all the market variables from the investment to market forces and from competitor research to market trends to help make the business successful. This step is every bit as important here as it is in a climbing gym business plan .
5.1 Market Trends
You need to have knowledge of the market trends before starting a personal training business if you do not want it to flop. Observation and market insight tells us the trend of hiring personal trainers is on the rise and more and more people want these services. This means that if we are opening a personal training business right now, it will be a success by all means.
5.2 Marketing Segmentation
Marketing segmentation is the next important thing in this business plan template for personal trainer. We need to know what the market we are going to serve is made up of so that we can direct the right resources the right way.
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5.2.1 individual fitness clients.
These will be the people who want to get into shape but lack the motivation for it. Personal trainers will be provided to them to help them achieve their body shape and weight goals.
5.2.2 Individual Medical Clients
The people who are recovering from a physical trauma and need assistance will also be out customers. We will provide all types of services for them.
5.2.3 Schools & Organizations
Schools and corporate organizations that need a personal trainer for their students/employees will also be a pretty large market segment for us.
5.3 Business Target
Our business targets are:
- To get as many permanent customers as we can.
- To make Bruce Personal Fitness a well-known and reputable brand in the market.
- To provide impeccable services to our customers.
5.4 Product Pricing
We will price our services slightly above the market average. This is a good strategy because the competition is not up to the mark with what we are going to make and we can attract customers even if we charge more than them.
Marketing Strategy of Business Consulting Business
A mistake that most personal trainer business startups make is that of adopting a marketing approach that is mean for a fitness center business plan . You need to know that the marketing ideas for personal trainers and personal training marketing strategies are entirely different.
6.1 Competitive Analysis
Bruce Personal Fitness is expected to have ethe following competitive advantages over the competition:
- There is not good quality personal trainer services provider in the area and there is a very good opportunity on that front.
- The companies providing these services in the area are not Chicago-based which makes it expensive for them to operate and they end up charging way more than what their services are worth.
- We have a team of extremely experienced and skilled personal trainers.
6.2 Sales Strategy
- We’ll take some famous athletes onboard to endorse our services.
- We’ll promote and market our services through all possible advertisement channels.
- We’ll offer discounts to people in the first 3 months.
6.3 Sales Monthly
6.4 Sales Yearly
6.5 Sales Forecast
Personnel plan
Just like a martial arts business plan , this business needs a lot of skilled people to run. As the services are to be provided by trainers, the bulk of our workers need to be experienced personal trainers business plan . When you write a business plan personal training, you need to make a complete personnel plan.
7.1 Company Staff
Bruce will be the CEO of the company. He will hire the following people to effectively run the company.
- 1 Manager to look after the operations of the business.
- 5 Personal fitness trainers.
- 3 Medical recovery trainers.
- 1 Accountant.
- 1 Receptionist.
7.2 Average Salary of Employees
Financial plan.
Even though unlike a trampoline park business plan , this business does not need substantial investment, we still need to figure out the costs involved in establishing and running this business.
Here’s a simplified financial plan for personal trainers business plan . Let’s see what are the expenses for which you need to have money before you can start the business.
- Cost of getting the business licensed.
- Cost of establishing the office.
- Cost of making a website.
- Brand logo designing costs.
- Salaries of the employees.
- Marketing and advertisement cost.
8.1 Important Assumptions
8.2 break-even analysis.
8.3 Projected Profit and Loss
8.3.1 profit monthly.
8.3.2 Profit Yearly
8.3.3 Gross Margin Monthly
8.3.4 Gross Margin Yearly
8.4 Projected Cash Flow
8.5 Projected Balance Sheet
8.6 business ratios.
Download Personal Training Business Plan Example in pdf
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How to Create a Personal Trainer Business Plan
Oct 24, 2022
By Tim Saye
A personal trainer business plan is a necessity for success.
What is a personal training business plan, why do you need a business plan for your personal training company, 9 steps to follow when creating a personal trainer business plan., step 1. write your mission statement..
Step 2. Conduct research on the fitness industry and your competition.
Step 3. Determine your value proposition.
Step 4. Outline your business structure.
Step 5. Put together a marketing plan.
Step 6. Address product and service offerings.
Step 7. Put together a financial plan.
Step 8. Assess risks effectively.
Step 9. Establish an implementation plan.
Secure the future success of your business with a personal trainer business plan.
How to use pinterest to build your personal training business, social media posting tools to test in 2023, ready to join the family.
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PT Distinction Ltd. Registered company number: 8413544, Registered Office: 7 Quakers Road, Devizes, Wiltshire SN10 2FH © Copyright PT Distinction 2023
IMAGES
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COMMENTS
Preparing a financial plan for your business is important if you plan to pursue business finance options such as loans, according to Inc. Business finance companies look at the short-term viability as well as the long-term potential of a bu...
There are a few simple things you can do to make planning for the future easier. Things like establishing a savings habit, making it automatic, and calculating how much you’ll need.
It’s impossible to eliminate all business risk. Therefore, it’s essential for having a plan for its management. You’ll be developing one covering compliance, environmental, financial, operational and reputation risk management.
How Do You Write a Personal Training Business Plan? · 1. Who are your clients going to be? · 2. What are your services going to be and how are you going to
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
Business Plan Step By Step · Competitor Analysis Who else is offering a similar product/service to you, or otherwise serving the same need for the client?
Why Do I Need a Personal Training Business Plan? Step 1: Write Your Personal Trainer Business Plan Summary; Step 2: Detail Your Qualifications
Executive Summary · Give a brief overview of the personal training industry. · Discuss the type of personal training business you are operating. · Detail your
Executive summary. This is where you state your mission statement and provide basic information about your personal trainer business. · Business
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
How to create a personal training business plan? · 1. Your long-term goal · 2. Value proposition · 3. Market analysis · 4. Marketing strategy · 5.
Eight Steps to the Perfect Personal Trainer Business Plan · Step One: Write Your Executive Summary · Step Two: Analyze the Personal Training
The first and the most important part of any sample business plan for personal trainer is planning. This is the phase where the strategy for the
A realistic and solid personal trainer business plan is fundamental for success. In your plan, you will outline achievable goals for your