warehouse gym business plan

Gym Business Plan Template

Written by Dave Lavinsky

Gym Business Plan & Example

You’ve come to the right place to create a gym business plan.

We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their gyms.

Gym Business Plan Example

Use the example below as a template to write a gym business plan.

Executive Summary

Business overview.

Steven’s Gym is a startup locally owned gym located in El Paso, Texas. Steven’s Gym will include various exercise equipment, strength training equipment, free weights, aerobic equipment, and plenty of cardio equipment. The gym will also offer HIIT group classes, spin classes, strength training instruction, and personal training.

Located in an up and coming, newly developed, and highly trafficked area of town, Steven’s Gym will attract both men and women ages 16 to 75+. There is something for everyone at Steven’s Gym, whether someone is just beginning their fitness journey or is a seasoned athlete and gymrat. The gym will have a welcoming atmosphere, experienced personal trainers, friendly staff, and frequently cleaned equipment and restrooms.

The membership options are affordable and will be offered on a month-to-month basis, a 6 or 12 month contract, or the ability to pay for an entire year upfront. Discounts will be offered to military, teachers, and healthcare workers.

Service Offering

The following are the services that Steven’s Gym will provide:

• Strength training equipment
• Cardio equipment
• Free weights/dumbbells
• Aerobic equipment
• HIIT group classes
• Strength training instruction

Customer Focus

Steven’s Gym will target all men and women ages 16 – 75+ who are interested in achieving and maintaining a healthy and active lifestyle. El Paso is a very diverse city that includes men and women from all walks of life. There are numerous blue collar individuals, white collar individuals, government employees, and military members as the local Army base is one of the largest in the country. Since Steven’s Gym will be very affordable, it will be able to attract people from all walks of life.

Management Team

Steven will manage the day-to-day tasks of running the gym. Steven will hire a gym manager to manage membership and three trainers. Steven will outsource a local CPA to handle payroll, accounting, and tax payments. He will also outsource a local advertising company to develop the gym’s logo, branding, photography, social media accounts, website, and billboard design.

Success Factors

Steven’s Gym will be able to achieve success by offering the following competitive advantages:

• Large, clean, and spacious fitness center that has all the necessary equipment for their fitness routine.
• Knowledgeable and friendly staff of trainers.
• Best value for membership pricing. The membership pricing options are affordable and offer military, teacher, and healthcare employee discounts.
• Convenient hours of operation.

Financial Plan Highlights

Steven’s Gym is seeking $300,000 in debt financing to begin operations of the business. The funding will be dedicated towards securing the warehouse space, gym build-out, and purchase of the equipment. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, rent, and working capital. The breakout of the funding is below:

• Securing warehouse space, gym build-out, and design: $25,000 to $125,000
• Gym equipment purchase: $50,000 to $100,000
• Three months of overhead expenses (payroll, rent, utilities): $15,000 to $55,000
• Marketing & advertising: $15,000
• Working capital: $10,000

Company Overview

Who is steven’s gym.

Steven’s Gym is a new, locally owned gym located in El Paso, Texas. Steven’s Gym will include strength training equipment, free weights, aerobic equipment, and plenty of cardio equipment. The gym will also offer fitness classes, strength training instruction, and personal training. Located in an up and coming, and highly trafficked area of town, Steven’s Gym will attract both men and women ages 16 to 75+. There is something for everyone at Steven’s Gym, whether someone is just beginning their fitness journey or is a seasoned athlete and gymrat. The gym will have a welcoming atmosphere, experienced trainers, friendly staff, and frequently cleaned equipment and restrooms. The membership options are affordable and will be offered on a month-to-month basis, a 6 or 12 month contract, or the ability to pay for an entire year upfront. Discounts will be offered to military, teachers, and healthcare workers.

Steven’s Gym History

Steven’s Gym is owned by Steven Malone, a retired Army Master Sergeant who is also a seasoned powerlifter. Steven was stationed at El Paso’s Fort Bliss for many years before eventually retiring and deciding to stay in El Paso and embark on his dream of eventually owning his own gym. As a frequent gym goer, Steven recognized that El Paso lacks high quality independent gyms. The nicest and most equipped gyms in El Paso are large franchises that have too many rules and regulations. Steven envisioned a gym that was welcoming to all types of people that is encouraging, clean, and adequately equipped for those who are focused on sustaining an active, healthy lifestyle.

Since incorporation, Steven’s Gym has achieved the following milestones:

• Found a 10,000 square foot warehouse space for lease in El Paso, Texas that can easily be converted to a gym.
• Registered Steven’s Gym, LLC to do business in the State of Texas.
• Began the branding image, logo, website, and social media accounts for the gym.
• Began researching and pricing out equipment.

Steven’s Gym Services

The following will be the services Steven’s Gym will provide:

Industry Analysis

The Gym industry is expected to grow to an annual revenue of $38 billion in the next five years. This growth is likely a result of increased per capita disposable income, in addition to growing health-consciousness. As consumers’ disposable income levels rise, individuals are usually more willing to purchase gym memberships. Additionally, time spent on leisure and sports is expected to increase over the next five years, effectively increasing the potential pool of consumers.

During this period, demographic changes are expected to drive revenue growth for operators. In particular, as healthcare costs continue to escalate, health insurance providers may implement incentives to promote preventive health practices, including the use of fitness centers among individuals within their provider network. Additionally, initiatives that promote the health benefits of exercise will likely increase over the next five years, stimulating industry revenue.  

Customer Analysis

Demographic profile of target market.

Steven’s Gym’s target audience will include all men and women ages 16 – 75+ who are interested in achieving and maintaining a healthy and active lifestyle. El Paso is a very diverse city that includes men and women from all walks of life. There are numerous blue collar individuals, white collar individuals, government employees, and military members as the local Army base is one of the largest in the country. Since Steven’s Gym will be very affordable, it will be able to attract people from all walks of life.

Customer Segmentation

Steven’s Gym will primarily target the following customer profiles:

• High school and college students
• Locally-based Military
• Athletes who frequently train for fitness competitions

Competitive Analysis

Direct and indirect competitors.

Steven’s Gym will face competition from other companies with similar business profiles. A description of each competitor company is below. Gold’s Gym Gold’s Gym is a large franchise-owned gym with two locations in El Paso. Gold’s Gym gives access to everything one needs to transform their life: state-of-the-art amenities, a variety of fitness classes tailored towards someone’s fitness needs, and the world’s best trainers. There are weekly fitness classes for group workouts ranging from martial arts-inspired cardio classes to foundational yoga sessions. There are also certified trainers if someone is new to exercise or just looking for more guidance and coaching. Gold’s Gym’s amenities include cardio equipment, group exercise, personal training, a pro shop, sauna/steam rooms, group cycle, free weights, functional training, kids club, locker rooms, and wifi.

Planet Fitness Planet Fitness is for people from all walks of life, whether they’re a first-time gym user or a veteran member, they are there to provide a workout environment in which anyone and everyone can be comfortable. All Planet Fitness members enjoy unlimited access to their home club and the support of their friendly, knowledgeable staff anytime they need it. PF Black Club members receive additional benefits, including the ability to bring a guest for free and access to any of their 2,000+ PF locations. Also, the PF member can take advantage of their free fitness training or find motivation by reading real member experiences on Planet of Triumphs. The goal of Planet Fitness is to provide a clean, safe, welcoming environment for anyone who walks through the door, and all the equipment, amenities, and support they need once they arrive.

Anytime Fitness Anytime Fitness is a welcoming gym that exists to help someone get to a healthier place – by giving the right support at the right times, in the ways the member wants. Every member receives a free, personalized Get Started Plan when they join. Their friendly, professional staff is trained to help someone along their fitness journey, no matter how much support they need. Aside from a large selection of strength and cardio equipment, Anytime Fitness offers the following services – 24-hour access, 24-hour security, convenient parking, anywhere gym access, private restrooms, private showers, health plan discounts, wellness programs, cardio TVs, and HDTVs.

Competitive Advantage

Steven’s Gym will be able to offer the following advantages over their competition:

• Large, clean, and spacious facility that has all the necessary equipment for their fitness routine.

Marketing Plan

Brand & value proposition.

Steven’s Gym will offer the unique value proposition to its clientele:

• Large, clean, spacious, and well-equipped facility.
• Dedicated team of trainers.
• Affordable membership pricing plans.

Promotions Strategy

The promotions strategy for Steven’s Gym is as follows: Social Media Marketing Strategy Steven’s Gym will invest in advertising the gym on social media platforms Facebook and Instagram. By using targeted social media marketing, Steven’s Gym will be able to reach the appropriate target audience of El Paso. Before opening, Steven will hire an advertising agency to develop the branding and photography needed to create captivating social media posts.

Billboards Steven will invest in two billboards strategically located at busy intersections that receive thousands of traffic daily. The advertising agency will develop the print for the billboard design. Website/SEO Marketing Strategy Steven’s Gym will invest in a strong SEO presence so that when someone enters “El Paso gym” or “local gym near me” in their Google or Bing search bar, Steven’s Gym is at the top of the list. Their website will list all of Steven’s Gym’s services, location, pricing, and contact information. Word of Mouth Word quickly spreads around town and once a few people experience the clean, affordable, and professional staff at Steven’s Gym, more and more people will come in to see for themselves and sign up for a membership plan.

The pricing of Steven’s Gym will be moderate and on par with competitors so customers feel they receive value when purchasing their services.  

Operations Plan

The following will be the operations plan for Steven’s Gym.

Operation Functions:

• Steven Malone will be the sole gym owner and operator of Steven’s Gym. He will oversee the staff, maintain that the cleaning schedules are being enforced, and ensure that all equipment is working per standard and safely. He will also manage all ordering of new and replacement equipment, schedule the group HIIT classes, and daily management tasks.
• Steven will hire a gym manager to be in charge of members and member management.
• A team of three trainers will run all of the fitness classes. As the membership grows and clients require more attention, more trainers and fitness classes will be added.
• A local CPA will manage all high level accounting functions, such as payroll and tax payments.
• Steven will also hire an advertising agency to develop the gym’s branding, photography, website, social media accounts, and billboard design.

Milestones:

Steven’s Gym will have the following milestones completed in the next six months. 8/1/202X – Finalize contract to lease warehouse space. 8/15/202X – Begin build-out and design converting warehouse space into a functional gym. 9/1/202X – Hire advertising company to begin developing gym’s branding, logo, social media accounts, website, and billboard design. 9/15/202X – Order all equipment. 10/5/202X – Hire gym manager and team of personal trainers. 10/15/202X – Train staff on proper policies and procedures. 11/1/202X – Grand Opening of Steven’s Gym.  

Steven’s Gym will be solely owned by Steven Malone. Steven is a retired Army Master Sergeant who has been stationed off and on at El Paso’s Fort Bliss for the past twelve years. Upon retirement, Steven decided to make El Paso his permanent home and embark on his dream of owning his own gym. Steven recognizes the lack of quality, independent gyms in El Paso and wants to open a gym that fits his idea of what a high-quality gym should be.

As a former powerlifter and personal trainer while serving in the military, Steven is aware of the proper equipment and facilities a gym should have. Steven envisions his gym to be friendly, clean, well-equipped, and affordable for the average person so that people from all walks of life will feel comfortable going to the gym and achieving their fitness goals. Steven will dedicate his life and focus on ensuring that his gym is always clean, staffed with the best trainers, and members are happy with what the gym has to offer.  

Financial Plan

Key revenue & costs.

The revenue drivers for Steven’s Gym are the membership fees it will charge each person that signs up to become a member. Each member will be placed on a membership plan where they can either pay month to month, enroll in either a 6 or 12 month contract, or pay for the entire year upfront.

The cost drivers will be the payroll for the staff, rent, utilities, cleaning supplies and equipment, and gym equipment purchase and maintenance. Other cost drivers will be the targeted marketing costs on social media and monthly fees for the CPA and advertising company.

Funding Requirements and Use of Funds

Key assumptions.

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

• Initial Number of New Clients per Month: 60
• Average Monthly Membership Fee: $150
• Gym Lease per Year: $100,000

Financial Projections

Income Statement

Balance Sheet

Cash Flow Statement

Gym Business Plan FAQs

What is a gym business plan.

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

You can  easily complete your gym business plan using our gym business plan template here .

What Are the Main Types of Gyms?

There are many types of gyms or fitness centers. There are large, franchise gyms that have multiple locations across the country. There are also large single facility gyms. Finally, there are smaller gyms that tend to focus on a particular fitness segment, such as strength training, CrossFit, or group HIIT training.

What Are the Main Sources of Revenue and Expenses for a Gym Business?

The primary source of revenue for a gym or fitness center are membership fees. Typically, members pay month-to-month, or fulfill a year-long contract.

The key expenses for a gym or fitness center are the costs associated with payroll, purchase and maintenance of equipment, cleaning supplies, marketing costs, and working capital. Other expenses will be rent, utilities, taxes, accounts payable, and other licensing fees (if necessary).

How Do You Get Funding for Your Gym?

Gym businesses are most likely to secure funding from banks. Typically you will find a local bank and present your gym business plan to them. Family and/or friends could also be potential investors and other types of capital-raising such as crowdfunding are other common funding sources.

A well-crafted gym business plan, complete with a solid financial plan is essential for attracting any type of potential investor. This is true for a new gym business or established businesses looking to grow.

What are the Steps To Start a Gym Business?

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

1. Write A Gym Business Plan - The first step in starting a business is to create a solid gym business plan that outlines all aspects of the venture. This should include market research on the fitness industry and potential target market size, information on the services and/or products you will offer, marketing strategy, mission statement, business model and pricing strategy and a detailed financial plan.  Our business plan template is the perfect guide to show you how to start a gym business plan.

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

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

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

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

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

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

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

Learn more about how to start a successful gym or fitness business:

• How to Start a Gym Business

Where Can I Get a Gym Business Plan PDF?

You can download our free gym business plan template PDF here. This is a sample gym business plan template you can use in PDF format.

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Gym business plan: a checklist with templates & examples

In this article, you'll find a checklist of everything you need to know to create a business plan for your gym or fitness business.

If you've recently discovered an ambition to start a gym , or this has been your dream for years, we've got you covered!

The first step in your journey is to create a gym business plan. This will include understanding your business's structure, determining your target market and what sets you apart from other gyms (your unique selling point), forecasting future finances, and any further details about your venture.

Your gym business plan is the key to your success. It will help you make better decisions and attract potential investors. Creating a business plan is ongoing; it's not something you do once and then forget about. Your business plan should be flexible and adapt as you move forward. 

You have to consider many elements to ensure your gym will succeed. All stages of your business plan are critical. In this article, we'll be doing a deep dive into understanding the core essentials of creating a fitness business plan.

What is a gym business plan? 

A gym business plan is a document that informs the reader about your company and where it's headed. In other words, it answers essential questions such as:

• How does your business work?
• How are you going to succeed?
• What steps do you need to take to succeed?

According to research, entrepreneurs who write formal business plans are more likely to be successful . 

This is especially true for business owners seeking external financial support. A formal business plan can help new businesses by providing a clear focus for their ideas.

Why it’s important to have a business plan for your gym? 

Simply put, your gym business plan is an organized and detailed process that provides a roadmap for your business. If someone reads it – like a potential investor, for example – they should be able to understand how you expect the gym to progress and succeed over time.

Plus, putting together a business plan with detailed description forces you to take a critical look at your operation as it currently stands and identify room for improvement or new areas of opportunity altogether.

Depending on where your business is located, a well-crafted business plan can serve multiple purposes.

Keep reading for even more reasons you need a business plan from day one!

Taking advantage of a steadily growing industry

The gym industry is booming, allowing gyms to capitalize on this growth. In the US alone, over 87 million people regularly attend the gym and spend billions of dollars annually on membership fees.

And according to projections, the global gym market is expected to reach 434 billion USD by 2028 – a 171% increase from 2021! This steady growth provides room for gym owners to get in on the action and reap the benefits.

By having a gym business plan that considers the health & fitness industry as a whole, you'll be able to capitalize on this growth.

Ensures your business idea is feasible 

If you're considering starting a fitness business, know it will be complex. You have a fantastic idea and think it could take off--but how can you test that theory without launching the business? 

This is where a business plan comes in handy. By working through your concept and creating a well-rounded plan of action, you'll be able to figure out key details like numbers, market trends, and what your competition is doing and save yourself loads of time down the line.

It helps to bring in investors and secure funding 

To secure funding for your gym business from investors, you need a comprehensive business plan. This document helps startup businesses obtain the initial capital they need and provides established companies with funds for expansion.

Would-be contributors usually request substantiated data— such as numbers backed up by facts and figures—before deciding whether or not to invest in a project.

If you don't have a business plan, chances are slim that you'll receive money from sources like investors, banks, or other financial organizations outside your company.

Set and reach goals, both big and small 

Having long-term and short-term goals is a great start, but it's time to take the next step. A successful business plan will contain specific tactics on how you plan to achieve your objectives. 

This might be through your business model, acquiring equipment, hiring new talent, or marketing campaigns.

A successful business needs a clear plan to achieve its goals. Breaking down important goals into smaller, more manageable pieces would be best. 

And remember-- as your business changes and grows over time, so should your plan. Keep it updated regularly. 

Business planning is no longer a daunting task

A business plan is a vital tool for new and established businesses. It provides direction and helps to set the foundation for a successful start. 

By budgeting, analyzing your market, and setting out your goals and strategies, you can make more informed decisions about how to proceed. This process also makes it easier to track your progress over time and assess whether or not you are on track.

Something to consider before creating a gym business plan

Consider the cost of starting a gym. There are many potential expenses, such as equipment, personal trainers, class instructors, insurance policies, property fees, etc.

Also, consider how much time you are willing to invest in this venture – especially during the beginning stages when there is likely to be a lot of work involved in getting everything up and running smoothly.

It can be challenging to maintain a good work/life balance when starting any business; it will probably require working additional hours outside of your usual schedule.

Money and time are essential, but there are other things you need to be successful. 

People skills, marketing know-how, and financial smarts are essential if you want to succeed in the gym business world. It's not going to be easy, but it will be worth it if this is your passion. A solid plan is the first step toward making your dream a reality.

The 11 key elements of a detailed gym business plan

Before you develop your business plan, think about where you are and where you want to see yourself. Keep this vision in mind, as it will help guide you through writing your business plan. There will be countless opportunities wherein consulting your business plan will assist you in making a decision.

To create an effective health club business plan, you will need extensive research on your fitness industry, competitors, and future finances. 

Following these 11 steps, you can build an excellent gym business plan that covers all aspects of your health club.

Step 1: Executive summary

Your executive summary needs to be clear and concise while also grabbing attention. What you want readers to know is:

• Your mission/purpose
• How you'll achieve success (What will make you a success story?)

And finally, your vision for the future. Though it may seem tempting to hurry through this section because it is shorter than other parts of the business plan, don't rush! 

This is your chance to shine and explain what makes your company special. Don't worry if you feel like you have more to say about your goals and vision. You can expand on these topics in your company overview.

Step 2: Company overview

Your company overview is where you get to sell your gym and its potential. Build on your executive summary's vision and mission statement, delving deeper into what makes your gym unique. 

Think of your vision statement as a tagline for your future website. When outlining the purpose of your gym, which audience it will cater to, and how you plan to achieve business goals, also consider including the following: 

Your personal mission statement for the business- i.e., what outcome do you hope to see?

Then, give your readers some information on your background:

• What have you done in the past?
• Have you had any other businesses?
• What is your current status?

This is helpful for investors and partners to know so they can understand where you've been and where you're going. The more they know about you, the more trust they'll have in you.

Step 3: Services and amenities

Outline your strategy in detail: what services you'll offer and how you will develop new offerings. This includes if you need to hire someone or build a facility, such as a spa or a studio. 

This information will help you realize when or where your business requires more funding and extra staff.

By describing your products and services, you can gain valuable insights into your gym's size. Test your vision to determine if you have the necessary funding for these assets. If not, consider how you might acquire the required financing.

Some potential products you could invest in are: 

• Gym equipment like treadmills and rowing machines 
• Specialist equipment to cater to different types of gym-goers, such as bodybuilders 
• Food and drinks like energy drinks or healthy foods 

And services like: 

• Personal training sessions 
• Group classes like yoga, spinning, or body pump 
• Lockers for storing belongings while working out 
• Spa amenities like saunas or massages 
• A swimming pool 
• Physiotherapy

Furthermore, thinking about increasing your market share is a significant next step. You could start by offering pro bono services at local workplaces and schools, eventually introducing a fee.

This way, you can attract larger customers while still providing value.

When creating a business plan - be it for a gym or something else entirely - remember that its purpose is to lay out your objectives easily for potential bankers, partners, employees, and investors.

Step 4: Management team

It is essential to consider the positions you'll need to fill and how these people can help your gym succeed. 

You should write a summary emphasizing their skills and management experience while incorporating what they will be responsible for and any incentives you plan on offering.

Furthermore, creating an employee ladder is vital to establish who or what each new hire will report to so your business can secure its success.

Step 5: Market research and marketing strategy

Marketing is a field where creativity can shine. It's all about identifying different groups of people who would buy your product, coming up with reasons why they should choose you over others, and figuring out ways to get more sales.

Learn more:

Gym marketing strategy

Gym promotion ideas

Gym membership pricing

Best gym features

Even if marketing your fitness business isn't your favorite thing, remember that your marketing strategy will help you lay out a plan for expansion if you do it right. Your first target should be to summarise what you found in your market research. Are you still stuck? 

Consider where you are situated, similar businesses nearby, and who makes up the community around you.

Define your target market here. It could be

• Working professionals
• Senior executives

Or a particular group, like cyclists. After that, try to understand why this specific demographic would join a gym – for example, are they looking for cardio?

After you have completed your market research, take some time to understand your target audience. Ask yourself the following questions:

• How can I make this customer base loyal?
• What makes my company unique?
• What's the best membership package I can offer?
• Is there a need for special equipment or offerings?

In your plan, identify and communicate what makes your business valuable and unique. 

This is called a Unique Selling Proposition (USP), and it will help instill confidence in potential investors that they are making a wise choice by investing in your company. 

Furthermore, detailing marketing strategies in this document provides peace of mind that future income streams are lined up and secure.

There are many marketing strategies you can use to grow your business, including:

• Improving your services
• Advertising and sponsorship
• Loyalty plans and website promotions
• Email marketing campaigns
• Investing in new equipment or technology

Step 6: Competitor analysis - Understanding direct and indirect competitors

To do a competitor analysis, research businesses in your field that offer similar services. These are your direct competitors. 

You can mention indirect competitors, but this section is mainly for an in-depth look at businesses like yours. Depending on your business type, you could have brick-and-mortar and online rivals.

When investigating a competitor, these are some critical areas you'll want to focus on: 

• Services and products they offer 
• Target audience 
• Pricing and business model 
• Strengths and weaknesses

Step 7: Create comprehensive financial projections

Starting a gym requires careful budgeting. Make sure you consider every possible purchase and estimate the cost of each item.

The following are key areas to cover when starting your business:

• Lawyer fees
• Recruiting expenses
• Constructional endeavors
• Exercise equipment for the workplace
• Three months' worth of bills and other operational costs
• An accounting software

It's time to be practical and ascertain how much money you will need to open your gym and make it thrive. This way, you'll get a better understanding of what falls within your budget and what will require additional funding.

Next, you need to prove to investors, stakeholders, and employees that you have a feasible plan for attaining ROI. 

Consider revenue streams such as classes, services provided, and product sales- anything that brings in money. Set down an estimate here based on research and expert opinion.

If you're looking for ways to make money, selling healthy food could be a great option. You could create your protein shakes or energy bars, for example. 

If you plan to sell food, ensure you stay up-to-date with food hygiene standards.

Step 8: Financial forecasting

Your sales forecast for your business's first, second, and third years should be detailed. Specifying the number of active members, you estimate for your first year would also be beneficial. Estimate using:

• Unit sales per month
• Any relevant past data
• How purchases will be broken down (as specified in financial projections)

Step 9: Financial strategy

How can you use your fees in a way that will increase customer registration? For example, if all the other gyms in your area charge higher prices than average, this could be an opportunity to set your business apart by being financially conscious (lowering membership fees or having better offers than competitors).

Consider ways to show your appreciation for loyal customers, such as discounts or complimentary services.

Furthermore, if you're in the process of creating a gym and spa business plan, consider adding discounts for those who use both facilities. For example, many people would love to take advantage of the jacuzzi after working out.

Writing your pricing strategy down will help give you peace of mind about what's to come for your gym.

Step 10: Payment option

An easy and accessible payment system is crucial for any business, let alone a gym. To retain customers , ensure your payment processing is up-to-date and user-friendly. 

Let potential investors know what platform you're using or planning to use, so they can see that you're taking customer experience seriously. A positive buyer experience will encourage loyalty among your clientele.

Step 11: Funding

Make it clear where your business will obtain the extra startup capital it needs. 

This is a chance to be practical about your company. Can you realistically obtain the funding required to reach your targets? Or do you need to readjust your plan?

Below are some vital external resources that might provide the necessary funding:

• Loans from friends or family members
• Crowdfunding campaigns
• Business partners or sponsors

If you are looking to gain investors, be sure to detail where the funding for your project will come from and how much of a return they can expect. You should also include any previous loan applications related to this venture here.

You're almost there!

Now it's time to put all the elements outlined above into a gym business plan. This plan will be a reference point when you need to make tough decisions, help secure investment, and show direction to new employees or partners.

Your next steps to successfully run your gym

Here's a personal checklist to help you ensure that you have everything covered before you open your gym. Use it as a reference point throughout the development process to ensure nothing is overlooked.

• Write a business plan
• Register business
• Apply for a business license and permit
• Open business bank accounts
• Select an online payment platform
• Obtain taxpayer's ID
• Purchase insurance
• Rent/purchase facility
• Purchase/rent equipment
• Secure funding
• Recruit employees
• Drafting contract documents along with any other legal documents required
• Design company logo
• Develop website
• Write website content
• Create social media accounts
• Design leaflets & brochures
• Organize branded uniforms
• Launch party

Any business, no matter how big or small, comes with its fair share of challenges. However, the payoffs in the end always make it worth your while

Starting a gym can be an exciting and rewarding venture. However, it is important to ensure that you are well-prepared with all the necessary information before you open your gym. 

A comprehensive Gym Business Plan detailing the market research, financial projections and strategy, services and amenities, management team, and more should be developed to ensure success. 

Additionally, obtaining the necessary licenses, finding and hiring trainers, investing in the right equipment , and appealing to members with friendly incentives are all important steps.

Gym business plan template & examples

In addition, we've gathered a few of the gym business plan templates and examples below. These samples will provide you with suggested language for your own document as well as guidance on what to include.

Adam Fitness Centre

Grow think's template

PAWSitively Fit Club

Ecogym business plan

Capital Health and Fitness Club

Frequently asked questions on good gym business plan

How can i start my own gym business.

Follow these steps and understand gym business plans:

• Choose your area/location
• Develop a comprehensive business plan
• Apply and obtain all necessary licenses
• Find and hire certified trainers
• Invest in the right equipment for your business
• Appeal to members with friendly incentives

How do I write a business plan for a gym?

To write a gym business plan, you can implement the steps below:

• Executive summary
• Company overview
• Services and amenities
• Management team
• Market research and marketing
• Competitor analysis 
• Financial projections
• Financial forecasting
• Financial strategy
• Payment option

What type of gym is the most profitable?

Out of the gyms surveyed in November 2020, 69 percent of CrossFit gyms were profitable, while half of martial arts gyms reported being in the black.

Is owning a gym a good business?

Owning a gym can be profitable, but you will need more time to make yourself rich. To succeed in this industry, you must put in the effort.

Do gym owners make money?

According to ZipRecruiter, an American jobs marketplace, gym owners in the United States will earn an average of $69,472 annually as of June 2022.

Do gyms make a lot of money?

A gym that is managed efficiently and has a good mixture of members can generate quite a bit of money. For example, if a gym has 1,000 people paying $50 monthly, the gym could bring in $50,000 each month. And if the monthly expenses for the gym are $20,000 per month, the profit would be $30,000 per month.

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Home > Blog > How to Write a Gym Business Plan (Step-by-Step Guide + Free Template)

How to Write a Gym Business Plan (Step-by-Step Guide + Free Template)

• Updated on 06/08/2024

Opening a gym can be very lucrative but requires a well-thought-out business plan. We mean a document that will help you understand what steps you need to achieve success at your gym. This article will discuss how we design a plan for a fitness business from the scratch.

We will present some examples and gym business plan templates. They will help you understand what elements should be included in this document. From concept development through market and competition analysis to a financial plan.

This article gives you a solid foundation for writing a business plan. Doesn’t matter if you are creating a new gym or improving an existing one.

Download: Free Gym Business Plan Template

What is a gym business plan?

A gym business plan is a document that describes planned activities, goals, and gym marketing strategies for a new or existing gym. It is an important document for anyone who wants to open or develop their own fitness business.

How to write a gym business plan (Step-by-Step)?

• Step 1: Gather answers to important questions from the list below before writing your plan.
• Step 2: Are you opening a gym with an innovative business model? It is better to wait to start writing a business plan immediately to verify whether this model can succeed. 
• Does the gym have a traditional business model (e.g., hour-scheduled group training sessions) already existing in the market? You can skip this step and create a business plan immediately.
• Step 3: Create a gym business plan using the ready-made template (pattern) described below.
• Step 4: Review the business plan regularly, every month in the first months of running the gym, and at least once a year in subsequent years. A business plan is a living document that will help your fitness place grow.

What to remember when creating a gym business plan?

• Write short and concisely. Be specific.
• Use numbers for calculations.
• Assume black scenarios. The blacker you assume, and yet the business has a chance of success, you will manage to beat the market.
• In the first months of the gym’s operation, work with the business plan daily and update calculations and assumptions.
• Once the gym is stable and has reached the so-called break-even point, return to the business plan at least once a year.
• Discuss the business plan with your team. Also, consider sharing some of the profits with your team. In this way, you will build a unique commitment.
• The business plan is for years. The document should be updated regularly.

Where to start writing a gym business plan? (10+ questions to start with)

Start writing your document by answering a few important questions. The questions help you create a good business plan for opening a gym and, above all, help you design a business that perfectly suits your needs:

• Why do you want to start this gym?
• How much would you like to earn per month? 
• How many clients do you plan to serve per month? 
• What kind of gym do you want to run? (e.g., group training place, personal training place, specialized gym of one kind of sport or one kind of clientele). Here is a list of types of gyms and other fitness businesses.
• What kind of service will you offer? (on-site, online, mixed).
• What area will you operate in?
• Who will be your client? 
• How many direct competitors are there where you want to operate?
• How will your gym stand out?
• How will you manage your gym? What gym management software do you choose?
• Who do you need to hire to start a gym? Do you plan a gym staff management software ?
• What metrics will you keep track of? (e.g. retention rate, customers opinions).
• What will your gym look like inside?
• What will the atmosphere of your gym be like?
• What will your fitness offer look like? 
• What will your gym pricing strategy be?

Recommendation

Remember that a sample of your fitness classes can attract potential customers. A well-performed meeting will help you sell your idea. The trainer’s performance and place’s image are your #1 sales tools.

What to write a business plan for?

• A business plan is an action plan. You will stop dreaming and start turning your idea into a real gym business plan.
• Running a business is working in a company. Creating a plan is working “on the company,” i.e. its design and improvement.
• A gym business plan will allow you to verify your assumptions. You will observe it in a year, two, or five years. It’s super satisfying to watch how your knowledge grows every year.
• Writing this document allows you to translate your vision into a specific project and action plan. It also allows you to rethink to what extent your business idea is a recipe for success and what you still need to refine.
• Creating a business plan for a gym will help you assess the reality of your dream. You’ll check the possibilities of its implementation, as well as check the chances of its success. It’s also important to assess the risk you have to take.
• A business plan forces you to be specific. If you don’t know the answer to a question in our guide, you may be blind in this area, which is very risky.
• If you already run a gym and don’t have a plan, fix this mistake. Every gym should have some sort of ideas for the present and future actions.

When is it worth writing a business plan?

In our opinion, it’s always worth it. You plan to open a successful gym, right? Not having the basic elements of your fitness business written down and calculated… dooms you to failure. Remember to verify them regularly too. 

Only a regular analysis of the gym’s results (read more about gym reporting ) and planning the next moves (in the form of a business plan) allows you to have full control over the gym.

Of course, the external motivation is looking for an investor or support (then you are forced to create this document).

Helpful resources when creating a gym business plan

• How Much Do Gym Owners Make in 2024
• How Much Does It Cost To Open a Gym in 2024
• Opening a gym (Step-By-Step Guide)    

Free gym business plan template

A typical gym business plan example includes:

• Executive summary for a gym
• Gym description
• Market analysis

Competition analysis

• SWOT analysis
• Investment costs (one-off to start)
• Operating costs (fixed monthly costs) Financial Projections
• Profit and Loss Account

Break-even analysis

Sensitivity analysis

• Gym marketing plan
• Company description of the vision for further development of the gym

1. Executive Summary

The summary of the gym business plan should include:

• Mission statement, vision, and values.
• Description of the gym concept.
• Why will this idea be a success?
• How do you want to implement this plan?
• Profits and return on investment.

The executive summary should be written at the end after you have written your entire gym business plan. The executive summary wraps the business plan up. It provides the reader with the most important information in a very concise form (max. 600 words, i.e., about 1-2 pages). Discuss only the key aspects of your business idea. Use points!

2. Description of the gym

This section aims to show you the details of your gym. It should not lack the following elements:

• Mission: why do we exist?
• Vision: what we want to achieve in 1, 2, and 5 years.
• Business Type: Is your gym a sole proprietorship, partnership, or other business?
• Gym name (get inspired by this list of gym names ).
• Gym type: specify the type of gym, e.g., personal training gym, group fitness classes gym, online training studio, wide offer studio, etc.
• Specific location: write exactly where your new gym is (or could be) and why you chose this place.
• The style of the place: what will be the colors, atmosphere, decorations, music, etc.
• Ways to serve the customer: only on-site, only remotely, both ways.
• Hours of Operation: What hours will the place be open? Why are these?
• Your offer is surely connected with your experience and skills. But remember to be creative and have 1-3 differentiators from the competition (Unique Selling Points).

3. Market research and competition analysis

You should thoroughly analyze the space to create your premises. Oh, unless you are introducing real innovation to the market – or maybe especially then. What needs to be observed? Analyze the market and competition, focusing on the following:

Market analysis Customers are the key to any gym’s success. Knowing their demographic structure, preferences, and training habits is critical to a business plan.

• Target market for a gym: Think about who your customers will be. Consider their age, interests, expectations, and how to reach them.
• Needs in the market: Describe the market’s needs and how your gym will meet them.
• Target Audience Size: Determine the number of potential customers in the market you intend to target.
• Market trends: Use credible information to show that people will be interested in your gym idea. Find out current trends and how the gym industry is developing.

Check out other gyms that are or could be your competition.

• Is there any other gym or fitness center in your area? Make a list of them.
• Revenue and number of customers they can achieve: Estimate how much such gyms can earn
• Offer and prices: Analyze what these places offer and what is their gym pricing . Try to calculate their revenue cost (it is how much you need to spend before you start earning).
• Competitor marketing activities: See what makes them successful and their weaknesses.
• Competitive advantages: What will be your advantage?

SWOT analysis The abbreviation comes from the words: S for Strengths, W for Weaknesses, O for Opportunities, and T for Threats. Fields S and W are related to the gym’s launch situation. While the O and T fields are related to the success of your project in the future. It is worth conducting such an analysis in the form of a table:

4. Investment plan (cost analysis)

In this section, you will present the costs associated with the initial investment and the spending plan for the first year of operation.

List the costs, dividing them into two groups:

• Investment costs (one-off to start).
• Operating costs (fixed monthly costs). 

After opening a gym, verify the costs regularly, preferably once a month.

Investment costs include, among others:

• Rental or purchase of the real estate.
• Renovation and adaptation of the fitness facilities.
• Purchase of exercise equipment: mats, kettlebells, dumbbells, other special equipment, like poles for a pole sport studio, etc.
• Reception Desk.
• Unified Work Clothes for the staff (if you plan it)
• Gym POS software.
• Payment terminals.
• Computer hardware for the POS system.
• A website with online booking.

Regarding point 5 and 6, take into account a very important monthly purchase, which will however save your time and money finally. It’s a gym management software. You can compare some of the software providers on the market to meet the best gym management software . Yet, what we recommend is WodGuru . With its reasonable price, many useful features, amazingly helpful support and nice cartoon visual identity.

• Insurance of the premises and equipment.
• Organizational and legal costs (e.g., regulations, documentation).
• Costs related to permits and licenses (e.g. license to conduct exercises according to a patented pattern and name).
• External training costs.
• Operating costs.
• Rental of real estate (if the premises are rented).
• Electricity.
• Staff wages: personal trainers, receptionist, outsource trainers etc.
• Purchase of additional items like finger food and drinks.
• Equipment maintenance and servicing costs.
• POS system support.
• Online booking system.
• Employee insurance.
• Online and offline advertising.
• Printed materials.
• Running social media.
• Website positioning (SEO).
• Taxes and fees.

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How to finance the opening of a gym?

The biggest problem for a novice gym owner is finding financing for the first business. Various options are worth considering.

• taking out bank loans,
• receiving subsidies — a business plan will even be necessary to receive them
• loans from friends or family.

Considering bank loans or a subsidy, you must first think about the black scenario. What will happen if your business fails and you have to return the borrowed money? But also what to do to prevent this from happening? How much does it cost to open a gym and which costs are inevitable? How high the margin you have to impose on the training performance? This is the key to assessing the chance of return on investment in the gym.

5. Financial forecast

The financial forecast consists of 3 elements:

• Projected profit and Loss Statement: Shows what turnover and profits you will generate. 
• Break-even analysis: Shows when a gym will become profitable.
• Sensitivity analysis: Shows what happens to turnover and profit in negative scenarios. E.g., 50% decrease in turnover for three months.

Profit and Loss Account You will need to estimate the value of the sale considering the size of your gym, target market, sales volume, and revenue cost. You will get a profit and loss forecast, comparing this with the costs. The easiest way to prepare a profit and loss account is in the form of a table:

Investors will want to know how much revenue you will need to generate each month to break even after all fixed and operating costs are considered. In the analysis, you should show how you intend to generate the necessary revenue, even in difficult months with lower sales.

It is worth doing it to assess the negative scenarios.

• The other gyms will be stronger, and you will have to lower price
• You lose key employees
• There is a decrease in sales by 10 or 20% compared to what you assume

This will allow us to be prepared better for different financial crises and reduce stress when such a situation arises.

Make a sensitivity analysis in the form of a table

Business is people. Describe what your team will look like, dividing it into two groups:

If you are looking for investors, this area can be critical for them.

Describe the founders:

• List of founders.
• Experience.

Which positions are necessary for the daily functioning of the premises? Is it the receptionist, a permanent personal trainer, an outsourcing trainer, social media platforms specialist, etc.? Who will suffice as emergency help?

Think about which people you already know with the necessary competencies. Which ones will you have to look for or train as your employees from the beginning? The cost of necessary training should also be included in the gym business plan.

Describe the team you need to build:

• List of job titles.
• Remuneration.
• Type of contract.

7. Marketing plan

Ideally, your marketing strategy should include the items we listed. Below we describe how to do effective marketing in your branch.

• Brand building (logo, colors, gym name , gym slogans)
• Building your own website or app (Here you can check how to create a fitness app )
• Selling training sessions or booking online from your own website (as the main way of selling online)
• Launching a loyalty program
• Will you run social media?
• Will you be implementing gym SEO (Search Engine Optimization)?
• Will you add a business listing on Google Maps?
• Will you run email and SMS campaigns, and if so, how often? How will you build your subscriber base? 
• Will you be blogging?
• Will you be running a gym newsletter ?
• Will you be doing paid Google Ads and Facebook Ads?
• Will you be offering promotions? If so, what types?

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8. Description of the vision for further development of the gym

Determining the direction of development is very important at the beginning of your business. When setting gym goals you want to achieve in a certain time, you should start with the wider ones, reaching those at the everyday level. It is also worth considering how you want to achieve these goals.

During project execution you need to observe and adapt initial goals. It enables effective management and reduces losses in marketing, service, and other areas. Your gym’s written plan should clearly outline the vision and strategies to achieve desired objectives.

Sample gym business plan

We created a sample gym business plan to help you write your plan. Click below to download an example of a business plan for a gym.

Download: Free gym Business Plan Template

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Key Takeaways

• The business plan describes what your gym will look like.
• A business plan consists of 10 different elements.
• Create a business plan even if you already run a gym.
• Do not outsource writing a business plan to external companies. It is better to ask an experienced trainer or an external company as a consultant for your ideas.
• Go back to the business plan once a month if you are starting and once a year if you have been operating for several years.
• A business plan is not an artificial document you write once and forget. It is a living document that teaches you how to run a business.

Frequently Asked Questions (FAQ)

How to write small gym business plans.

Regardless of the size of the gym or business, the steps of gym business planning remain the same. Writing this document for a small gym consists of creating:

• Executive summary, 
• Gym description, 
• Market analysis, 
• Investment plan, 
• Financial projections, 
• Team, 
• Marketing plan,
• Company development description

Does every gym need a business plan?

In our opinion, yes. If you are serious about putting your place in the whole fitness industry, you must implement a repetitive method of working “on the company”. A BP that is updated regularly every month and year is a way to run a business.

How to open a gym without money?

Opening a gym with no money can be challenging, but it’s not impossible. Here are some ways to open a gym without enough funds:

• Rethink the concept of your gym.
• Look for gym investors or alternative funding sources.
• Start your online business to get first customers.
• Consider working with other companies.
• Start a smaller business by offering training sessions on demand and develop your brand.

Discover more ideas on how to open a gym with no money.

How to promote gyms?

Promoting a gym is key to attracting new guests, increasing sales and retaining regular customers. A few steps to help you promote your gym:

• Create a professional website with a website creator like WodGuru.
• Take care of social media by posting regularly and encouraging interaction.
• Add your gym to popular sites.
• Organize contests and promotions.
• Collaborate with influencers.
• Organize events such as health promoting, competitions or concerts.
• Use paid ads such as Google Ads or Facebook Ads.
• Collect gym feedback from satisfied customers.

Check these gym promotion ideas for inspiration.

How much profit does the gym make?

A gym’s profit depends on many factors, such as location, offer, prices, service quality, and business size. The average gym profit margin is between 10 and 15% per year, but it can vary significantly depending on the factors mentioned above.

Franchise gym profits on the lower end of 10%, boutique fitness studios averaging 20% to even 40% profit margins, and CrossFit gym profit margins in the 25-30% range.

What makes a gym business plan important?

A gym business plan is crucial for several reasons:

• It helps clarify the vision and goals of the gym.
• It provides a roadmap for the business.
• It includes financial projections, budgeting, and funding strategies for securing investors or loans.
• It identifies potential risks and challenges, allowing the business to address them proactively.
• It serves as a reference point for decision-making, helping the management team focus on the business’s objectives.
• It can be used to communicate the business idea effectively to stakeholders, including investors, partners, and employees.

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Gym Business Plan

According to Statista , the health and fitness industry generates over $80 billion of revenue every year. With annual revenue that big, it shows that many people are mindful of their physical health. And that they’re willing to make room in their  budget to keep themselves in excellent shape. So if you ask us about opening a gym or physical fitness center, we’d say that it’s a profitable business. That said, if you’re planning on launching such a business, we’ll help you get started by offering our business plan examples for a gym!

10+ Gym Business Plan Examples

1. gym business plan template.

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Size: 570 KB

3. Fitness Business Plan Template

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7. Gym Business Plan in PDF

Size: 78 KB

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Size: 175 KB

9. Fitness Business Plan in PDF

10. Simple Gym Business Plan

11. Gym Business Plan Example

What Is a Gym Business Plan?

A gym start-up business plan is what you’ll need to formulate strategies and actions to open your gym facility. Its basic elements and functions are the same as those of other business plans . With the countless things that a gym business needs, such as equipment, licenses , permits, and start-up budget , it’ll be hard to prepare them without using a new gym business plan example. It serves as your guide to keep track of your gym business’s progress and status. Other than that, entities who might be interested in supporting your gym will want to see a business plan. They will want to know how feasible it is before they form a partnership with you.

How to Launch a Gym Business

There are several preparations you must do to plan for the gym you want to open. But what we’ll show you here are its four crucial foundations. They’re pretty basic, but they hold tremendous importance for your gym to be successful.

1. Formulate a Budget

Every business needs a budget; that’s the golden rule. Without a budget, a business can’t start operations. But if it does, its owner is in danger of suffering substantial financial losses. So make sure to establish enough budget to purchase your gym’s necessities. When you make your budget, try to limit the cost of opening a gym as much as you can. As a business owner, it’s essential to have a cost-effective mindset.

2. Search for a Good Location

Gyms have to be accessible. Otherwise, not many people will be able to visit them. With that in mind, make sure to find a good location for your gym. Aside from being accessible, the location must have plenty of people around it. You can choose areas with other businesses surrounding it, such as malls and business parks.

3. Purchase High-Quality Gym Equipment

Of course, you can’t call your business a gym without the proper equipment. So make sure to purchase ones with high quality. See to it that all of them are made of quality materials and are safe for the users. Your gym won’t be able to attract people if it has substandard equipment.

4. Look for Skilled and Knowledgeable Personal Training Staff

It’s hard to manage a gym all by yourself. Plus, you can’t act as a personal trainer to all of your clients. That’s a lot of responsibility to carry. For that reason, you should hire personal trainers. They can help you plan fitness regimes , plot workout schedules , and entertain clients. Hire those that have a rich fitness background and have experience in managing gym facilities. Offer them an employment contract to be with you for the long term.

How to Write a Gym Business Plan

Earlier, we’ve talked about a gym business plan and how important it is. Not just important, but also necessary. So here, we’ll show you the four steps in writing a gym business plan.

1. Describe Your Gym and Its Programs

Talk about what makes your gym unique from other ones. And explain how its training programs will help clients achieve their fitness goals . You can also provide previews and descriptions about how the facility will look and what equipment it’ll have.

2. Explain Your Marketing Strategy

A marketing plan plays a big part in putting your gym business on the map. So make sure to explain it thoroughly in your business plan. Talk about how you’ll promote your gym and what platforms you’ll use to make it popular.

3. Structure Your Gym’s Business Model

The business model is a system of how your gym will get clients, generate revenue, cover expenses, and grow. It showcases your entire gym’s operations. It would help if you had a well-structured business model so that you’ll have a clear direction on how to run your gym. And for sure, potential investors of your gym will want to know its business model.

4. Write Your Executive Summary

Most gym and fitness center business plan examples online have an executive summary . It’s the first section of a business plan, and it’s an overview of the business. So, make sure to write one for your gym business plan. It may be the first section, but it’s best to write it last. Please take note that it’s a summary. So it’s like a bird’s eye view of your business plan. If you write it last, it’ll be like writing a short recap, which is more manageable.

What are the various types of gym facilities?

These are the types of gyms that you can do business out of:

• Training gym
• Membership gym
• 24-hour access gym

How can I make my gym more popular?

Here are excellent approaches to bring more people into your gym:

• Use social media as a marketing platform
• Organize competitions for charity, such as Crossfit games
• Establish a referral program
• Offer one-time free sessions, such as yoga and Zumba classes
• Host corporate wellness activities

What are suitable names for my gym?

If you’re looking for some gym names ideas, we have some for you:

• Strip and Gain Gym
• Kratos Power Gym
• Beast Mentality Gym
• 24/7 Intensity Gym
• Warrior’s Den Gym

Those are names that we made up ourselves. You can get inspiration from them.

You might not know it, but your gym will be a place that can change lives for the better. Fitness is key to a better and healthier life, and your gym can bring that to many people. So start moving! Make preparations for your gym business as soon as you can. And let our gym business plan templates help you.

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Gym Business Plan Template 

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The Panda tips in this gym business plan template guide you through the process of researching and presenting information necessary to secure funding and partners for your business.

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Gym Business Plan Template

Created by:

​ [Sender.FirstName] [Sender.LastName] ​

​ [Sender.Company] ​

Business Plan for (Your Business Name Here)

Prepared for:

​ [Recipient.FirstName] [Recipient.LastName]

​ [Recipient.Company] ​

Executive Summary

Business concept.

The [Sender.Company] principal objective is to provide a comprehensive array of fitness and wellness services, including but not limited to personal training, group fitness classes, and state-of-the-art gym equipment. The company's commitment to health, safety, and fitness excellence is at the core of its mission.

Market Opportunity

The fitness and wellness industry represents a substantial and expanding market, underscoring the substantial growth potential. [Sender.Company] has conducted market research to ascertain and delineate its target market, revealing promising demographic and psychographic data to support its business concept.

Competitive Advantage

​ [Sender.Company] distinguishes itself through the provision of innovative fitness programs, high-quality equipment, professional trainers, and a prime location. The commitment to delivering superior fitness experiences underscores its competitive edge.

Revenue Model

​ [Sender.Company] revenue model encompasses

membership fees

personal training sessions

fitness classes

wellness-related retail sales.

These diverse revenue streams are anticipated to generate a steady and sustainable income for the [Sender.Company] .

Financial Projections

Preliminary financial projections indicate an encouraging revenue growth trajectory, with profitability anticipated within (Insert Timeline) months of operation.

Funding Request

​ [Sender.Company] is seeking funding in the amount of (Enter Requested Amount) to support startup and operational costs, facility buildout, equipment procurement, marketing initiatives, and working capital.

Value Proposition/Services

Gym membership services.

​ [Sender.Company] shall offer gym membership services to individuals and corporate entities seeking access to our state-of-the-art fitness facility. Membership options include various packages with different durations, allowing members to select the plan that best suits their fitness needs.

(List Membership Packages)

Personal Training Services

​ [Sender.Company] shall provide personal training services to members seeking customized fitness guidance. Certified trainers employed by [Sender.Company] shall lead personal training sessions available by appointment.

The company shall ensure that its trainers possess the requisite qualifications and certifications to provide professional fitness guidance and support tailored to individual member goals.

Group Fitness Classes

Group fitness classes shall be a cornerstone of the [Sender.Company] offerings. Members may participate in a variety of classes, which are scheduled regularly and cover a range of fitness disciplines.

Additional Wellness Services

​ [Sender.Company] shall, at its discretion, offer additional wellness-related services, such as (Mention Additional Services, e.g.nutritional counseling, wellness assessments, and wellness workshops). These services shall be priced separately, and availability may vary based on staffing and demand.

Retail and Merchandise Sales

​ [Sender.Company] shall sell fitness-related merchandise, including apparel, nutritional supplements, and wellness products, through an on-site retail section within the facility. Members and non-members alike may purchase these products, subject to availability.

Market Analysis

Market size and growth.

The fitness and wellness industry exhibits substantial market size (Enter Estimated Industry Revenue Figures in your Area) with a consistent upward growth trend of (Enter Projected Growth Percentage).

Market growth is attributed to factors such as

(List Factors Contributing to the Growth, e.g. heightened health consciousness, aging populations, and the diversification of fitness offerings).

Target Market and Customer Demographics

​ [Sender.Company] has conducted in-depth research to identify and profile its target market. The analysis shows that (Present Findings in Captivating form, you can include age groups, income levels, fitness goals, and preferences). It also considers geographic factors related to the location of the gym facility.

Competition Analysis

The competitive landscape of the industry is characterized by the presence of various gyms, fitness studios, wellness centers, and health-related establishments.

(Mention the Main Competitors and their Unique Selling Points).

Operations Plan

Business hours and schedule.

The gym facility operated by [Sender.Company] shall maintain regular operating hours as specified in accordance with local regulations. [Sender.Company] may adjust operating hours to conform to client trends as deemed appropriate.

Staffing and Personnel

​ [Sender.Company] shall engage in the recruitment, selection, and employment of qualified personnel necessary for the smooth and efficient operation of the facility. All staff members, including fitness trainers, support staff, and administrative personnel, shall be required to meet applicable licensing and certification requirements.

Health and Safety

​ [Sender.Company] shall prioritize the health and safety of members and staff within the facility. This commitment encompasses the implementation of health and safety protocols and compliance with local and national health regulations.

Customer Service and Pricing

​ [Sender.Company] places a paramount emphasis on providing exceptional customer service to all members and guests of the facility. As such, customer service policies and standards shall be established, covering areas such as member inquiries, feedback collection, and resolution of complaints.

Financial Plan

Start-up costs.

​ [Sender.Company] has meticulously assessed the start-up costs associated with establishing and launching the gym facility. These costs include but are not limited to:

Facility acquisition cost

Leasehold improvements

Fitness equipment

Licensing and permit fees

Initial marketing expenses

Insurance premiums

Legal and professional fees

Revenue Projections

​ [Sender.Company] has developed revenue projections, taking into account a range of potential membership and service fee structures.

(Enter a Breakdown of Revenue Projections).

Revenue forecasts are based on market research, competitive analysis, and expected market penetration.

Expense Forecasts

A comprehensive expense forecast has been compiled, encompassing all operational expenditures associated with the facility's day-to-day activities.

(Enter a Breakdown of Expenses Forecasts).

Break-Even Analysis

​ [Sender.Company] has conducted a break-even analysis to ascertain the point at which revenue will equal total expenses, signifying the attainment of operational self-sufficiency.

(Enter Break Even Analysis).

The break-even point is projected to occur within (Insert Timeline) months.

Risk Assessment and Contingency Planning

​ [Sender.Company] acknowledges that the financial projections presented herein are subject to various risks, including changes in market conditions, unexpected operational challenges, and economic fluctuations.

(Enter the Contingency Plan).

Confidentiality Agreement

Parties receiving access to this information are legally obligated not to disclose, share, or use the Confidential Information for purposes other than evaluating potential business arrangements with [Sender.Company] .

Recipients must exercise reasonable care to protect the information, return all materials upon request or at the end of discussions, and understand that this obligation of confidentiality is perpetual and survives any termination of discussions. All parties accessing the gym business plan are bound by these legal obligations to maintain the confidentiality and non-disclosure of the disclosed information.

​ [Recipient.FirstName] [Recipient.LastName] ​

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Gym Business Plan Template

Gym business plan.

If you want to start a new gym business or expand your existing business, you need a detailed gym business plan.

Since 1999, we have helped over 10,000 fitness business owners create business plans to start and grow their gyms, health clubs, martial arts studios, fitness studios, and other athletics businesses.

Write a Business Plan for Your Gym Business

A good business plan includes financial projections, detailed strategies and action plans. We recommend that you start with a simple gym business plan template.

Below are links to each section of a winning gym business plan:

• Executive Summary – The Executive Summary is the most important section of your own business plan. It should be clear, concise and provide an overview of your gym business plan.
• Company Overview – The Company Overview section should include your company name, legal structure, current business model, location, history, and a brief description of your products or services. You can also include your company’s mission statement and/or a list of your key objectives.
• Industry Analysis – The Industry Analysis should include information on the size of the gym industry, local market trends, competition and growth potential.
• Customer Analysis – The Customer Analysis should include a description of your target market, customer needs and how you plan to attract and retain your target audience.
• Competitive Analysis – The Competitive Analysis should include a description of your direct competitors, their strengths and weaknesses and your competitive advantage for how you plan to compete with them.
• Marketing Plan – The Marketing Plan should include your sales and marketing strategy, pricing strategy, and the promotion plan for your own gym.
• Operations Plan – The Operations Plan should include a description of your gym facilities, necessary gym equipment, fitness instructors, personal trainers and staff members, policies and day-to-day procedures. It may also include your gym or fitness business milestones.
• Management Team – The Management Team section should include biographies of the gym owner, your executive team members, key members of your team, and the overall management structure.
• Financial Plan – The Financial Plan should include your gym’s financial statements, funding requirements, and investment analysis.
• Appendix – The Appendix should include any supporting documents such as your gym’s lease, contracts, permits, business license and other legal documents.

Start Your Gym Business Plan Here

Next Section: Executive Summary >

Gym Business Plan FAQs

What is the easiest way to complete my gym business plan.

Where Can I Download a Gym Business Plan PDF?

What is a gym business plan.

A gym business plan provides a snapshot of your gym business or fitness center as it stands today, and lays out your growth plan for the next five years. It explains your long-term goals and your strategy for reaching them. It also includes solid market research for your local target market to support your plans.  

Once you have a handle on your market and the basics of running a small business, include more detailed information in your formal gym business plan. This better prepares you for financial negotiations with banks and other business opportunities to help your fitness business grow.

What Are the Sources of Funding for Gyms?

To secure funding for a gym, the main sources of funding are small business loans and angel investors. With regards 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 confirm that your financials are reasonable. But they will want to see a professional plan. Such a solid gym business plan will give them the confidence that you can successfully and professionally operate a business.

The second best way to secure funding for a gym is through angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding or, like a bank, they will give you a loan. Venture capitalists will not fund a gym. They might consider funding a chain of gyms, but never an individual location. This is because most venture capitalists are looking for millions of dollars in return when they make an investment, and an individual gym or fitness center could never achieve such results.

How Do I Write a Business Plan For A New Gym?

A business plan for a new gym will include your purpose for entering the fitness industry, key market data, direct and indirect competitors, and a more detailed description of your marketing plan, management team, target customers , and more. Outside of the 10 key elements noted in the gym business plan outlined above, you may also include the following information:

• Mission Statement: Define your philosophy on fitness and why you are opening this specific gym.
• Facility: Describe your gym’s layout and which gym and strength training equipment you will be using.
• Services: Describe the fitness services you offer, such as personal training, available exercise equipment, hosting fitness classes, and child care.
• Gym Membership Fees: Explain your pricing structure for gym memberships including membership options and other additional services.
• Financing: Detail how you will finance your startup costs and day-to-day operations.
• Growth Plan: Outline your plans for growing the business, including expansion into new markets and acquisitions.
• Risks and Threats: Describe the risks facing your gym and how you plan to address them.
• Exit Strategy: Explain how you will sell or close the business, including a timeline for doing so.

As you can see, a business plan for a gym is comprehensive and detailed. It should be updated regularly to reflect your changing business goals and strategies. Having a well-written business plan is essential to any successful gym or fitness center.

What Marketing Strategies Are Effective For A Gym Business?

There is no one-size-fits-all answer to this question, as the marketing strategies that are effective for a gym will vary depending on the type of gym you own. However, some general marketing tips include:

• Creating a strong branding strategy, including a recognizable logo and tagline.
• Developing marketing materials such as print ads, website design, social media profiles, and more.
• Creating a referral program to incentivize loyal customers to refer their friends.
• Developing partnerships with other established businesses in your community.
• Running promotional events such as free trial days or discounts for monthly memberships.

As you can see, many marketing strategies can be effective for your gym. Your marketing strategy should support your overall business strategy, which is defined by your vision and mission statements and unique selling proposition.

What Additional Resources are Available for Gym Business Owners?

We have several articles to help you start a new gym or grow your existing business:

• How To Start a Gym
• How Much Does It Cost To Start a Gym?
• How To Write a Gym Marketing Plan + Template
• Gym and Fitness Center Industry Trends & Outlook
• Gym Management and Growth Strategies

GYM BUSINESS PLAN OUTLINE

• Gym Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan
• 10. Appendix
• Gym Business Plan Summary

Other Helpful Business Plan Articles & Templates

How to Start a Gym or Fitness Center

Michele Richardson

10 min. read

Updated July 3, 2024

Free Download:  Sample Gym Business Plan Templates

You wake up at sunrise to teach the first class of the day at your new fitness studio. You love motivating your clients to reach optimum levels of health and wellbeing. This is what keeps you going when you face challenges or get overwhelmed in the nitty gritty of running your own fitness center.

If this sounds like something you would love to do, then this article is for you! I’ll walk you through how to start your own gym or fitness center, as well as give you the resources to help you start your dream business.

Starting a gym or fitness center is not easy, but it can be extremely rewarding if you’re willing to put in the hard work.

To supplement this guide, I’ve interviewed two successful fitness business owners, Kaylee Cahoon of SMARTCore Method, and Marcela Xavier of Bread and Yoga. What struck me most about both interviews was the clarity and vision the owners had surrounding starting their businesses in the first place, and how specific they were about who they wanted to impact through their fitness services.

• The fitness industry in America:

The fitness industry has exploded in recent years. In the U.S., total revenues reached 27 billion U.S. dollars last year. Recent marketing aimed at fighting obesity, as well as trends toward improving health and fitness, have contributed to this market rise.

The low level of market concentration has made a variety of fitness niches accessible in local communities. Only 18 percent of total revenue in 2016 was from the top four largest players in the fitness industry, while small speciality gyms and independently-owned fitness businesses made up the rest.

In addition, many of these gym and fitness centers employ very little to no staff, which makes startup costs and barriers to entry low. With the proper mix of skills, training, and commitment, starting a gym or fitness center can prove a successful business move.

• First, ask yourself: Why do you want to open a gym?

Kaylee Cahoon, the creator and owner of SMARTCore Method in Franklin, Tennessee, says that starting a fitness enterprise must come from love and passion, or you won’t last very long in the industry.

With over thirty years of experience in movement, including professional modern dance, choreographing, teaching, and various somatic movement modalities, Cahoon developed the SMARTCore Method to teach clients how to move smarter for optimal health and wellbeing. The method is a blend of somatic movement education, strength, balance, and functional and body weight training.

Her business is driven by her passion to educate clients to pay attention to their bodies for optimal function, not just follow fitness fads and trends that often end up being harmful to the body in the long run. “The fitness world needs to take a much harder look at what’s happening in the body, how the body functions, and how it relates to other parts of the body,” she says.

In 2009, Marcela Xavier, the owner of Bread and Yoga, saw a need for a yoga studio in the Inwood community in upper Manhattan. She started the studio with the intention of creating a gathering space for the community that was inclusive of all ages and people. In addition to the many types of yoga offerings, Bread and Yoga offers a wide array of holistic programs for children and adults aimed at encouraging them to maintain overall health and wellbeing.

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Get clear on why you want to start a gym or fitness center

Your reason behind opening a gym will help you maintain the focus, clarity, and drive it takes to become a successful enterprise.

Be honest with yourself. You may find that instead of starting a gym, you want to become a personal trainer or fitness instructor. Make sure you think through the possibilities and determine if starting a gym is really the right choice for you.

Don’t skip the market research phase

Talk with fitness center owners to find out what it took to get their business up and running. Learning from those that are already successful in your given field is a priceless education that can save you lots of time and energy in the long run.

• Step 1: Get trained and accredited

First and foremost, make sure you have the proper training, accreditations, and experience to start your own gym. Your clients will be counting on you not just to help them look great, but to keep their bodies healthy and safe using your services.

There are several different personal training certifications you can choose between, and other types of fitness offerings (such as yoga, Pilates, or aerobics classes) will come with their own certifications as well. You’ll also be responsible for making sure any staff you hire has proper certification.

• Step 2: Identify your fitness niche

There are a variety of fitness niches to choose from. Explore these niches below to determine what kind of fitness center you’d like to open.

Specialty fitness center:

• This niche typically focuses on one specialty fitness class or activity. Some examples include aerobics, yoga, dance, Pilates, cycling, and much more.
• Specialty fitness centers often offer a variety of class options during the week based on differing levels, intensity, and complexity.
• Instructors are certified in a particular niche.
• Specialty fitness centers can often be more expensive due to the boutique experience, intimate design, and quality instructors.
• Monthly packages or memberships are often offered as an option.

Traditional gym:

• Traditional gyms often provide a variety of workout options in one location, including fitness classes, strength and cardio equipment, and personal training.
• They may provide additional amenities including massage, sauna, tanning, steam rooms, childcare, and more.
• These additional services are often offered for an additional fee.

Medical fitness and wellness center:

• These fitness centers often provide physical therapy and other medical services to help clients manage, recover from, and prevent health issues.
• Usually associated with a doctor’s office or hospital that makes program recommendations.
• These centers often have professional staff specialized in managing, tracking, and measuring the progress of clients.
• They often provide a variety of educational services for physical and mental wellness, in addition to the typical group fitness classes and gym equipment.

Family fitness and wellness center:

• Family fitness and wellness centers include athletic and country clubs.
• They often provide a variety of workout options, including group fitness classes, strength and cardio equipment, and personal training.
• Family fitness and wellness centers include exercise options for adults, seniors, teens and children.
• These centers often provide classes and programs for youth such as swim lessons, sports clubs, summer camps for kids, and childcare.
• May offer additional wellness amenities including massage, sauna, tanning, and steam rooms, sometimes for an additional fee.

Should you start a for-profit or nonprofit fitness center?

It’s worth considering whether or not you’d like to start your fitness center as a for-profit business or a nonprofit.

A nonprofit family wellness center, such as the YMCA, will provide services and programs for community members who cannot afford to pay full price. Often this is done on a sliding scale, based on income; students and seniors also typically get a discount at nonprofit family wellness centers. For-profit wellness facilities do not offer these discounts.

• Step 3: Find the location

Once you determine what kind of gym you want to open, you will have to determine how much space you will need.

First, get clear on how many clients you want to be able to serve in your facility. Knowing how much space you will need will help you find a location that best suits your requirements. Do you need street access? Access to parking? Are you in an area with a lot of foot traffic? Will it be hard for people to find you? Are you on a bus route?

Initially, a good location is key to getting clients to your gym. Many gym owners believe that location is worth paying more money upfront so that your business gets seen.

For Kaylee Cahoon, finding the right location was extremely important. She wanted to be in an area that was still developing and where many things were happening. It was also important for her to be around a more highly-educated population, and to have nearby medical facilities since her fitness niche focuses on “educating” the whole body.

• Step 4: Figure out what additional staff and equipment you will need

Before hiring fitness instructors and personal trainers, check their training and accreditation carefully. Ask thorough questions during the interview, and consider “auditioning” the person before hiring them. You also may want to consider hiring them temporarily for a few test classes or personal training sessions before committing to keeping them as an employee.

When Bread and Yoga first opened its doors, Marcela Xavier taught about ten yoga classes per week. Eventually, she secured a strong group of teachers so that she could fully focus on the leadership aspects of the business. Finding a strong group of quality yoga teachers was extremely important to her when it came to fulfilling her overall mission and vision, and she did this by holding auditions for yoga teachers to see how they taught, who they were, and what they were all about.

Some questions to ask yourself in terms of hiring staff:

• Will you be the primary fitness instructor at your gym, or will you need to hire fitness instructors and personal trainers?
• Will the staff be employees or independent contractors?
• What are the accreditations and training that potential staff, fitness instructors, and personal trainers must have?

Will you need fitness center equipment?

If you need fitness equipment, you will need to decide whether to buy or lease. Leasing can help you stay current on the latest fitness technology, can give you an opportunity to assess your needs before purchasing, and will often include maintenance of the equipment.

However, if you lease equipment, you give up ownership interest, which might end up costing you more in the long run. Do your research and check with a lawyer before making a decision on whether or not to lease gym equipment.

If you decide to lease equipment, you can check to see if the company is a member of a leasing association such as the National Association of Equipment Leasing Brokers or the National Association of Equipment Finance Professionals.

• Step 5: Get financed

You will want to make sure your finances are in good shape so that you can get financed. Most financing groups and landlords want to see two previous years of tax returns and financial statements, and before starting your business, you should have enough money saved for personal expenses for at least 12 to 24 months.

Having a strong business plan in place can help solidify funding for your gym or fitness center. Be sure to check out our planning resources, as well as the sample business plans at the end of this guide.

• Step 6: Market your gym

Once you hone in on your customer base, market and promote your business in places customers spend time. This sounds simple, but it takes consistency and dedication over time to build a solid customer base.

Consider hiring someone to take on a marketing, PR, or social media management role, and if you can’t afford that, do some of it on your own. By coming up with a marketing plan for your gym or fitness center, you’ll be able to focus your efforts and get the word out about your new business.

You may want to offer free guest passes, membership discounts, and other incentives to keep and attract new clients.

• Sample business plans and further resources:

These sample business plans are an excellent resource in starting your own gym or fitness center.

Having a well-thought-out business plan can help you solidify your financing and give you the clarity of mind you need to achieve your business goals.

Surprisingly, many people do not take the time to write a business plan and are unable to move forward with their business goals—so make sure you don’t make this mistake.

Below are some free sample business plans to help you get started:

• Yoga Center Business Plan
• Health Club Business Plan
• Multi-Sport Complex Business Plan

To find out more about various loan options, contracts, and other forms of assistance for small businesses, check out The U.S. Small Business Administration.

To learn about pertinent tax information for businesses, check out the businesses section on the IRS website. You will need to sign up for an EIN (Employee Identification Number) for federal requirement purposes  as well.

Find out what documents, registrations, and licenses your state requires for opening a gym online via the Small Business Administration’s Licenses and Permits Resource.

Michele Richardson is a writer, actress and entrepreneur living in New York City. Her writing has appeared in a variety of web sites, and as a published playwright.

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BUSINESS STRATEGIES

How to create a gym business plan

• Annabelle Amery
• Sep 5, 2023
• 10 min read

When starting a business , it’s crucial to create a comprehensive and clear business plan. This applies to all types of businesses , including a gym business . A gym business plan is a strategic document that outlines the goals, objectives and strategies for starting and running a successful gym.

A gym business plan serves as a roadmap for entrepreneurs, providing guidance on how to navigate the challenges and complexities of the fitness industry. It helps entrepreneurs define their vision, mission and target market, as well as identify the resources and steps needed to achieve their goals.

Need a way to promote your gym business online? Get started with Wix’s website builder , which includes built-in marketing and scheduling tools.

Why create a gym business plan?

A gym business plan is particularly important for individuals who are new to entrepreneurship. It provides a structured approach to starting a gym by outlining the necessary steps, such as securing funding, finding a suitable location and acquiring equipment. Some of the other main advantages include being able to:

Attract funding: A well-written gym business plan can attract potential investors or lenders who may be interested in supporting your venture financially. It demonstrates your understanding of the market, your competitive advantage and your plans for profitability.

Understand resource requirements: A comprehensive gym business plan helps entrepreneurs identify the resources required to start and operate their gym successfully. This includes business registration (cost to start an LLC ), equipment, staff, gym marketing materials and other supplies necessary for day-to-day operations.

Achieve long-term success: A gym business plan provides entrepreneurs with an opportunity to thoroughly analyze their target market and competition. By conducting market research and competitive analysis, they can develop strategies to differentiate their gym from others in the industry.

Set goals: A well-crafted gym business plan helps entrepreneurs set realistic and measurable goals for their gym. These goals can include financial targets, membership growth, customer satisfaction levels and other key performance indicators.

Make better decisions: Having a clear business plan in place helps entrepreneurs make informed decisions about various aspects of their gym, such as pricing, marketing strategies and expansion plans. It serves as a reference point for evaluating options and making choices that align with the overall business strategy.

Guide your website messaging and design: A gym business plan also includes considerations for creating a business website . Today, making a website is crucial for attracting customers and promoting your gym. The business plan can outline the website's purpose, design, functionality and marketing strategies to drive traffic to the site. Be inspired by these fitness website examples .

How to write a gym business plan in 6 steps

A gym business plan is a crucial document that outlines the strategies and goals for starting and running a successful gym. It provides a roadmap for entrepreneurs, guiding them through the process of establishing and growing their fitness facility. To create an effective gym business plan, it is important to include six main parts:

Executive summary

Business and domain names

Market analysis and research

Operations plan

Marketing and advertising

Financial plan

01. Executive summary

The executive summary is a concise overview of your gym business plan. It provides an introduction to your gym, highlighting its unique selling points and summarizing the key elements of your plan. The executive summary should include a brief description of your gym, your mission statement, an overview of the target market and competitive landscape, a summary of your marketing, your advertising strategies and an outline of your financial projections (including how you plan to raise money for your business ).

Example of an executive summary for a gym:

“ABC Fitness is a state-of-the-art gym located in downtown Cityville. Our mission is to provide a welcoming and inclusive environment where individuals of all fitness levels can achieve their health and wellness goals. With top-of-the-line equipment, certified trainers and a variety of group exercise classes, we aim to be the premier fitness destination in our community.

In an increasingly health-conscious society, the demand for fitness facilities continues to grow. ABC Fitness differentiates itself by offering personalized training programs tailored to each member's specific needs. Our strategic location in the heart of the city ensures easy accessibility for our target market of urban professionals.

To attract customers, we will implement a comprehensive marketing campaign that includes online advertising, social media promotions, and partnerships with local businesses. We project steady growth in membership numbers over the next three years, resulting in increased revenue and profitability.”

02. Business and domain names

Choosing the right business name for your gym is crucial for building brand awareness and trust. It should reflect your gym's values, target market and unique selling proposition. Here are some steps to consider when deciding on a company name:

Brainstorm keywords and concepts related to fitness, health and wellness

Use a business name generator (or specifically a small business name generator ) for inspiration and to generate unique name ideas

Consider the availability of domain names associated with your chosen company name

Check the availability of the chosen domain name using domain registration websites

Be inspired: Gym business name ideas , Fitness business name ideas

Learn more about registering your business once you’ve landed on your business name and legal structure.

03. Market analysis and research

Including market analysis and research in your gym business plan is essential for understanding the competitive environment and developing a better business strategy.

Target market: Analyze the target market by identifying demographics, psychographics, and fitness preferences of potential customers. Conduct a SWOT analysis (strengths, weaknesses, opportunities and threats) to assess your gym's internal and external factors.

Competitors: Research competitors in your area to understand their strengths, weaknesses, pricing strategies and marketing efforts. Identify opportunities for differentiation by offering unique services or targeting underserved segments of the market.

04. Operations plan

The operations plan outlines the logistical aspects of your gym, including location, premises, equipment and staffing needs. Make sure to select a suitable location that is easily accessible, has ample parking and aligns with where your target market is based.

Then determine the size and layout of your gym space based on the number of equipment, exercise areas, locker rooms and amenities. Research and budget for the necessary gym equipment, including cardio machines, weightlifting equipment and fitness accessories.

Lastly outline staffing requirements by identifying the number of trainers, instructors, front desk staff and maintenance personnel needed.

05. Marketing and advertising plan

The marketing and advertising plan lays out the strategies and campaigns you will implement to promote your gym business. To do this you’ll need to first identify your target audience and tailor your marketing efforts to reach them effectively.

Then, plan out a strong brand identity by creating a logo, color scheme and visual elements that resonate with your target market. (Need help creating a logo? Check out these fitness logo ideas or Wix’s free logo maker .)

Consider using various marketing channels such as social media platforms, online advertising, local partnerships and community events. Then plan compelling content that highlights the benefits of joining your gym and showcases success stories from existing members. You can also implement referral programs or incentives to encourage current members to bring in new customers.

06. Financial plan

The financial plan is a cornerstone of any gym business plan, providing an in-depth overview of how the business will secure initial funding, manage expenses, generate revenue and outline the projected time frame for achieving profitability. This section is pivotal in demonstrating the financial viability and sustainability of the gym business to potential investors, stakeholders and lenders.

Startup costs and funding: Starting a gym business entails various upfront costs that should be carefully estimated for accurate financial planning. In addition to the cost of opening a gym , you'll need to consider equipment procurement, interior design, licensing and permits, marketing, initial staffing and operational supplies. Funding for these startup costs can come from diverse sources, such as personal savings, business loans, grants, partnerships or investments.

Revenue projections: Revenue projections provide a forecast of the expected income over a specific period, usually the first few years of the gym's operation. These projections should be based on thorough market research, competitor analysis and realistic expectations.

Profit and loss projection: The profit and loss projection, also known as the income statement , offers an overview of the gym business's revenue, expenses and net profit or loss over a specific period. It provides insights into the financial health of the business and its potential profitability.

Time frame for profitability: The time frame for achieving profitability in a gym business depends on factors like membership growth, marketing strategies, operational efficiency and retention rates. Typically, gyms aim to reach profitability within the first year or two of operation

Gym business plan examples

Creating a gym business plan from scratch can be a daunting task, especially if you're new to entrepreneurship. Fortunately, there are many resources available that provide gym business plan templates to help you get started. These templates serve as a framework for organizing your ideas and ensuring that you include all the necessary components in your plan. Here are two draft business plans for hypothetical gym businesses, incorporating the main parts discussed earlier.

By using templates as a starting point, you can customize them to fit your specific vision and goals for your gym. Remember to conduct thorough research, analyze your target market and develop strategies that set your gym apart from the competition. With a well-crafted gym business plan in hand, you'll be well-equipped to start your journey towards building a successful fitness facility.

Business plan template 1: neighborhood fitness studio

The Neighborhood Fitness Studio is a boutique gym located in a residential area, catering to individuals seeking a personalized fitness experience. Our mission is to provide a welcoming and supportive environment where members can achieve their health and wellness goals. With certified trainers, state-of-the-art equipment and a variety of group exercise classes, we aim to become the go-to fitness destination in our community.

Company name and domain name

We have chosen the name "FitHub" for our neighborhood fitness studio. The domain name www.fithub.com is available and aligns well with our brand identity.

Our target market consists of local residents aged 25 to 45 who value convenience and personalized attention

Competitor analysis reveals that there is no other gym within a two-mile radius offering specialized fitness programs tailored to individual needs

We plan to differentiate ourselves by offering personalized training plans, nutrition counseling and small group classes

We have secured a 2,000 square foot space in a commercial building with ample parking for our gym

The gym will be equipped with cardio machines, free weights, strength training equipment and a designated area for group exercise classes

We will hire certified personal trainers, fitness instructors and front desk staff to ensure excellent customer service

Marketing and advertising plan

We will utilize social media platforms like Facebook and Instagram to promote our gym and engage with potential customers

Local partnerships with health food stores and wellness centers will allow us to reach a wider audience

We will offer a free trial period for new members and implement a referral program to incentivize word-of-mouth marketing

Business plan template 2: upscale fitness center

The Upscale Fitness Center is a premium gym targeting affluent individuals who prioritize luxury and exclusivity. Our mission is to provide a high-end fitness experience that combines cutting-edge equipment, personalized training and luxurious amenities. With our state-of-the-art facility, expert trainers and exclusive membership perks, we aim to become the preferred fitness destination for the elite in our city.

We have chosen the name "Elevate Fitness" for our upscale fitness center. The domain name www.elevatefitness.com is available and reflects our commitment to helping members elevate their fitness journey.

Marketing analysis and research

Our target market consists of high-income individuals aged 35 to 55 who value personalized service and are willing to invest in their health

Competitor analysis reveals that there are no other fitness centers in our city offering the same level of luxury and exclusivity

We plan to differentiate ourselves by offering VIP amenities, personalized training programs and exclusive member events

We have secured a 10,000 square foot space in a prime location, featuring high-end finishes and top-of-the-line fitness equipment

The fitness center will include dedicated areas for cardio, strength training, group exercise classes and a spa-like relaxation area

We will hire certified personal trainers, nutritionists and spa professionals to provide a comprehensive wellness experience for our members

We will leverage digital marketing strategies, such as targeted online advertising and influencer partnerships to reach our affluent target market

Exclusive membership events and collaborations with luxury brands will create buzz and attract high-profile individuals

We will offer personalized consultations and complimentary services to prospective members to showcase the unique value of our fitness center

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Tips on starting your fitness equipment distribution business from scratch.

If you're passionate about fitness and combat sports, and you're looking to turn your passion into a profitable business venture, then becoming a wholesale distributor could be the perfect path for you.

Wholesale distributors play a crucial role in the supply chain for fitness equipment. They bridge the gap between manufacturers and retailers by providing the necessary goods and services for these industries.

In this ultimate guide, we'll explore the ins and outs of becoming a wholesale distributor for the fitness and combat sports industries. We'll cover everything from the benefits of becoming a wholesale distributor to the steps you need to take to become one.

Table of Contents

Benefits of Becoming a Wholesale Distributor

Steps to becoming a wholesale distributor, tips for becoming a successful wholesale distributor.

Becoming a wholesale distributor for the fitness industry can be a highly rewarding career choice. Here are just a few benefits of becoming a wholesale distributor:

High Demand

The fitness and combat sports industries are always growing, and there is always a high demand for equipment, gear, and other related products. This means there is a significant opportunity for growth and expansion in these industries.

Profitability

As a wholesale distributor, you can enjoy higher profit margins than retailers, as you are buying products in bulk directly from manufacturers at a lower cost.

Flexibility

As a wholesale distributor, you have the flexibility to work from home or an office, set your own hours, and control your own schedule.

Industry Involvement

By becoming a wholesale distributor, you can immerse yourself in the fitness and combat sports industries, attending events, meeting professionals, and building relationships that can help grow your business.

Becoming a wholesale distributor takes time, effort, and dedication. Here are the steps you need to take to become a successful wholesale distributor:

• Identify your Niche
• Develop a Business Plan
• Establish Relationships with Suppliers
• Obtain Necessary Licenses and Permits
• Establish Your Distribution Network
• Purchase a Warehouse and Start Operations
• Focus on Marketing and Sales

1. Identify Your Niche

Before jumping into becoming a wholesale distributor, it's important to research the industry to gain a better understanding of the market, competition, and the products and services you'll be selling. This research will help you identify gaps in the market that you can fill, as well as identify potential suppliers and manufacturers.

Choosing a specific product or market that you can specialize in and become an expert in. By focusing on a niche, you can build a strong reputation for yourself and your business, which can help you stand out in a crowded market.

As a fitness and combat sports distributor you can run your operations in two ways:

• You can buy products directly from manufacturers and suppliers of fitness & combat sports equipment and then sell them directly to the end user (consumers), effectively turning you into a retail distributor.
• Or, you can become a wholesale merchant who buys products like wholesale boxing gloves, wholesale punching bags and wholesale skipping ropes from manufacturers and sells them to other distributors or retailers.

Your decision will depend primarily upon what kind of goals you’ve set for yourself and your company.

By choosing a specific niche, you can tailor your product offerings, marketing strategies, and customer service to meet the needs of that market. This can help you establish yourself as a trusted and reliable supplier within that niche, which can help you build a strong reputation and a loyal customer base.

2. Develop a Business Plan

Once you've identified your niche, the next step is to develop a business plan. This should include your business goals, target market, marketing strategy, and financial projections. A well-developed business plan can help you define your goals, identify your target market, and develop a roadmap for success.

When developing your business plan, it's important to think about your long-term goals and how you plan to achieve them. Your business plan should also include detailed financial projections, such as revenue forecasts, operating expenses, and cash flow projections.

In addition to defining your goals and financial projections, your business plan should also include a detailed marketing strategy. This should include an analysis of your target market, an overview of your competitors, and a description of the marketing channels you plan to use to reach your customers.

Example: A wholesale distributor of MMA gear might develop a business plan that focuses on supplying combat sports retailers with high-quality, durable gear at competitive prices.

Related Article: Deciding Upon Your Distribution Strategy – Going Big Or Choosing The Conventional Retail

3. Establish Relationships with Suppliers

After choosing your niche and developing your business plan, you'll need to find suppliers and manufacturers who can provide you with the products you need. Your suppliers are the key to your success, as they will provide you with the products you need to sell to your customers.

It's important to find reliable and trustworthy suppliers who can provide you with high-quality products at competitive prices. Start by attending industry events, searching online directories, and reaching out to manufacturers directly to build relationships and establish partnerships.

As a wholesale distributor, your success will depend on your ability to establish strong relationships with suppliers. This means finding reliable and trustworthy suppliers who can provide you with high-quality products at competitive prices.

Example: A wholesale distributor of boxing gloves might establish a relationship with a supplier who specializes in high-quality, durable gloves made from top-quality materials.

4. Obtain Necessary Licenses and Permits

Before you can start selling products as a wholesale distributor, you'll need to obtain any necessary licenses and permits. This will vary depending on your location and the type of products you plan to sell.

It's important to research the specific requirements in your area and ensure that you have obtained all necessary licenses and permits before starting your business.

Example: A wholesale distributor of combat sports equipment might need to obtain a sales tax permit and a business license to operate legally in their state.

By obtaining the necessary licenses and permits, you can ensure that you're operating legally and avoid any potential fines or penalties for non-compliance. It can also help to establish your business as a reputable and trustworthy wholesale distributor in the fitness and combat sports industry.

5. Establish Your Distribution Network

Once you've established relationships with suppliers, the next step is to establish your distribution network. This means identifying retailers who are interested in carrying your products and developing a system for delivering those products to them.

To establish your distribution network, you may need to do some research to identify potential retailers who would be a good fit for your products. Once you've identified potential retailers, it's important to establish a dialogue with them and learn more about their business and their needs.

Once you've established a relationship with a retailer, you'll need to develop a system for delivering products to them. This may involve working with a logistics provider to arrange for shipping and handling.

Example: A wholesale distributor of fitness equipment might establish a distribution network that includes gym owners, personal trainers, and retailers who specialize in combat sports and fitness equipment.

By establishing a strong distribution network, you can ensure that your products are reaching the right retailers and customers and that you're building a strong reputation within the fitness and combat sports industry.

6. Purchase a Warehouse and Start Operations

This will be your biggest expense and one that should be given due time and consideration. You’ll want a warehouse that’s big enough to house all your stock, but also not so big that you end up paying for a lot of space that is never in use.

You’ll also need to make the choice between buying and renting a place. This, of course, comes down to how much capital you’re willing to invest into this venture. If you have the money for it, buying your own warehouse is naturally the best possible scenario.

If you don’t have the funds, getting a property on loan is a great deal because you’re more likely to find one that’s close to your customer base. This minimizes transportation and other logistical costs that are a distribution company’s big expense.

Related Article: 5 Tips On Effective Warehouse Inventory Management

7. Focus on Marketing and Sales

Finally, as a wholesale distributor, your success will depend on your ability to market your products effectively and make sales. This means developing a strong online presence, attending industry events, and networking with potential customers.

You'll need to market and sell your products to retailers and other customers in the industry. This includes attending trade shows, building a network of industry professionals, and using digital marketing tactics to reach your target audience.

Example: A wholesale distributor of combat sports gear might focus on marketing their products through social media, attending industry events such as MMA fights and expos, and establishing relationships with combat sports retailers and gym owners.

Ultimately, the key to success in marketing and sales as a wholesale distributor is to be persistent and consistent in your efforts. By staying focused on your goals, building strong relationships with your customers, and constantly refining your marketing and sales strategies, you can build a successful business in the fitness and combat sports industry.

Becoming a wholesale distributor for the fitness and combat sports industries can be a highly rewarding career choice for those with a passion for these industries. By following the steps outlined in this guide, you can establish yourself as a key player in the industry and build a successful and profitable business.

Remember to stay focused, committed, and passionate about what you do, and you will have a great chance of success in the industry. Here are a few additional tips to keep in mind:

Stay Up to Date

The fitness and combat sports industries are always changing, and it's important to stay up to date with the latest trends and developments. This includes staying informed on new products and technologies, attending industry events, and staying connected with industry professionals.

Stay Organized

As a wholesale distributor, you'll be responsible for managing inventory, processing orders, and handling logistics. It's important to stay organized and keep detailed records to ensure that your business runs smoothly and efficiently.

Build a Strong Team

As your business grows, you may need to hire employees or contractors to help with various tasks. It's important to build a strong team of dedicated and talented individuals who share your passion for the industry and are committed to helping your business succeed.

Stay Customer-Focused

At the end of the day, your success as a wholesale distributor will depend on your ability to meet the needs of your customers. It's important to listen to their feedback, respond to their inquiries promptly, and provide high-quality products and services that meet their expectations.

In conclusion, becoming a wholesale distributor for the fitness and combat sports industries can be a fulfilling and profitable career choice. By following the steps outlined in this guide, and keeping these additional tips in mind, you can establish yourself as a key player in the industry and build a successful business that serves the needs of retailers and customers alike.

Remember to stay passionate, focused, and committed to your goals, and you'll be well on your way to success in this exciting and growing industry.

Tags: Distributors

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Guide to Opening a Gym and Starting a Successful Gym Business

March 23, 2023

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A good workout starts with good prep. You need your training schedule at the ready. Ask Arnie. Reps and reps. The same applies If you are thinking about opening your own gym. Prep and rep mean the difference between failure and success.

Go through your list enough times to check if you haven’t forgotten anything important. Wait. Let’s first make a list. It can be a bit overwhelming. That’s why this guide to opening a gym may be useful.

Many questions pop up in your head. What type of business is a gym? How much does it cost to open a gym? Is opening a gym profitable? How much do gym owners make ?

You might want to be one of the lucky few who make their hobby their job. Or perhaps you are attracted by the revenue. It’s true, you will have a bunch of potential clients. It’s a huge market. They come by the millions, looking to lose weight, gain muscles, or just to get in shape. Fitness is golden.

This means there is a lot of competition . To prepare yourself properly, learn from experienced business owners. They will all confirm that research and setting up a solid business plan are the two first steps.

Sit down and calculate the costs . Determine your target market. Come up with a brand name that stands out. Hold on!

A bit overwhelming? That’s a euphemism indeed. Thinking of how to open a gym needs to be an orderly process.

The first step for starting a gym: Plan your Business

Want to start a gym?

First, you write down the essentials.

Like studying a course to prepare yourself for an exam, you start with the table of contents. Once you got the contents in your head, half of what you need to know is dealt with.

The same applies when you plan to start a gym.

Opening a gym business plan

Nowadays creating a business plan isn’t such a hard and boring process as it used to be. Now you can go through the process in a step-by-step manner using a tool like IdeaBuddy , which will keep your focus on one thing at a time, and help you to go fill in all vital parts of it.

Your specific business plan is made up of various questions that will answer:

• Name of your gym
• Who will be your customers?
• Gym start-up costs and funding. How much does it cost to start your own gym?
• Legal structure and licenses.Getting all the paperwork in order
• Promotion/marketing
• Expectations of revenue
• When do you think you will break even?
• Matching your staff with your customers

Think about the necessary investments:

• Accounting and business software
• Client management and scheduling software
• Website and digital marketing
• Fitness equipment
• Ample lighting

This gives you an idea of your itinerary. Your destination will be a profitable business. Let’s put some flesh on the frame.

Target market: Who will be your customers?

Market research is the first you do. This is an expensive way to say: what kind of customers you want to come and keep coming?

Draw out a profile of your preferred client:

• Clients who want to lose weight?
• Clients who wish to work-out with personal trainers to meet personal fitness goals?
• Bodybuilders who want to be Schwarzenegger?

You will want to buy the appropriate equipment. And hire staff that meets the expectations of your customers.

Photo by: My Fit Station

Your clients are your niche. Adept your gym accordingly. Niches or types of gyms can be:

• Specialty fitness center
• Traditional gym
• Medical fitness and wellness center
• Family Fitness and wellness center

Now think of a name for your gym

Try to match the name with your target market and type of gym. Arnie’s Family Fitness may target your desired niche. It also might attract aspiring bodybuilders.

Be imaginative and specific. Then ask yourself, if you were your ideal client, would you want to go to <insert your gym name >?

Next is location

• Again, think about your customers. This will be in your own interest. The right location can break or build your gym.
• What if a customer has an hour to spare and wants to hit the gym? A lunch break workout might come in handy. So, located within walking distance preferably.
• Foot traffic is another good one. You want lots of people walking by and popping-in for info.
• Costs and convenience are factors that influence your traffic. Don’t give customers an excuse to skip a session. A nearby location helps to avoid this. Find a location that is easy to reach by car, foot, and public transport.
• How many clients are you aiming for? How much space will you need? Which location is suited for the size of your gym?

Start-up costs and funding

You can expect between $10,000 for a personal training studio to $50,000 for a fully equipped commercial gym. This what your equipment will cost. The location will affect the total cost.

Unless you are willing to pay ten times as much, avoid areas that are known to have high rental costs(looking at you, NYC). The only reason you would choose such an area is if your ideal clients are to be found there, and only there — if that’s the case, think niche.

Your start-up costs will go to:

The most expensive cost. And monthly!

2. Equipment

A small personal training studio can be equipped with around $10,000. Commercial gyms will need about $30,000 to $50,000.

3. Employees

Be ready to pay your top trainers $25 an hour. Also, you may need an accountant, maintenance workers, a marketing person or team, and a lawyer.

4. Licenses/Permits

5. Legal Fees

6. Software

How to start your own gym with no money?

• Start with a small business and grow bigger later.
• Keep marketing free. Business cards at your front desk. Use social media, cross-promote with other businesses, give free trials of your services.
• Use Free Resources. The US Small Business Administration offers free services. From help with business plans to legal and accounting advice, take advantage of these.
• Word of mouth. Happy clients will talk to others.

And how to come up with this kind of money?

Even starting a small business will set you back. Only the sunlight is free. You could live on water and bread for a decade, or find an investor who doesn’t want to own 51% of your business. A business partner is another possibility. You could also open a gym franchise.

Sole ownership is only possible with taking a loan. Owning your own gym salary is a plus. You will own the entire debt too, of course. Keep that in mind. But it will be your business only.

Get a loan at:

• A local bank or credit union for a small business loan
• Look for online alternatives, for fewer requirements and faster funding

You will need to show up with a proper business plan. No business plan means no loan. The U.S. Small Business Administration helps you to develop your business plan and to get loans. In Europe, you can find similar organizations.

Legal structure, licenses, and certificates

Choose the best legal structure for your independent business . There are several possible structures.

• Sole proprietorship
• Partnership
• S corporation
• C corporation
• Limited Liability Company (LLC)

Gym licenses and permits:

• The most important license you need as a gym owner is a business license. The cost depends on how large your team is. It will not be more than a few hundred.
• Try to hire trainers with a license already, so you don’t need to spend on getting them licensed.

Research local demands, as this varies from state to state. Then get the business licenses. And check regulatory laws: building permits and health department requirements.

Certification:

Get a fitness professional certification, for more credibility.

The American Council on Exercise and the International Health, Racquet, and Sportsclub Association all offer certification and business education courses.

Get it from an agent who specializes in business insurance . Gyms and injuries go hand in hand.

Don’t be one of those gym owners who think this can’t happen to them.

Tip: avoid legal issues by putting a clause in the membership contract. Prevent customers from suing for self-caused injuries.

Promoting and marketing

When creating a gym website , you need to include the following information:

• The services you provide
• Opening hours, location, contact info, and pricing
• An online booking system

Appointment scheduling plugins relieve you from a lot of work. Your calendar will be bulked up without breaking a sweat. Here’s the best solution in our biased opinion:

Amelia is a  WordPress booking plugin  created by our team at  TMS Outsource . It includes all of the features that a gym needs.

Amelia is an excellent option for any business in the fitness industry because it is easy to install  and does not involve a steep learning curve. After installation, users enjoy free and complete booking functionality.

It doesn’t matter if you’re a personal trainer or if you own a fitness studio. Amelia is so versatile that it can match any expectations.

It can be  fully integrated with WooCommerce  so that you can accept payments via PayPal or Stripe. You also get calendar sync, whether you use Google Calendar or Outlook Calendar.

With Amelia, it’s easy for your clients to book appointments. It’s a perfect booking system and a simplified solution to online booking.

Plus, the settings can be  highly customized to suit your needs . Not only the settings but you can also customize the booking page so that it fits your brand.

Making appointments and subsequently managing them is a breeze with the integrated capabilities.

It  sends SMS reminders  to both the client and the relevant employee. It also includes functions for  canceling and rescheduling appointments .

You can do a test drive on the  demos page  where you can see how it looks both on the frontend where the booking page is and the backend where you have your dashboard.

In this way, you’ll have a good idea of how your booking website will look both on the front end and the backend.

If you plan on starting a gym, a booking option like Amelia is a necessity. Especially at this price.

This is all about relationships and branding. Give your customers an experience they will not find elsewhere. When they think of you at home or elsewhere, make them wish they were rather at your gym instead. Your loyal customers are the backbone of your success.

Social Media

Don’t start a gym and then ignore social media.

Social media channels get you connected with your customers and future clients. Completely for free!

Raise the bar. Use Twitter , Facebook , Instagram , community profiles, Yelp , and Google My Business . Reach out to influencers, offer them specials or freebies in return for a review or shoutout .

Expectations on revenue and break-even

How much do gym owners make? To predict your revenue you have to factor in natural ups and downs. The time of the year has an effect on new memberships. You might find more people come to the gym in winter and less in summer or vice versa.

A year-long membership will cost $20 to $50 per month. You can also charge a sign-on fee of $100 to $300.

Now that you know the membership cost per person , you can multiply. It all depends on the size of your business. Are you visualizing opening a small gym? Or thinking about starting a warehouse gym?

A small gym with 300 members can make a minimum of $100,000 per year. Big gyms can make more than $600,000 annually.

Besides size, location affects your income. A gym in a small town can’t expect huge revenue.

Don’t expect to break-even in your first year. Look at the larger picture and try to predict your sales over the next five years.

Match your staff and gym equipment with your customers

Employ trained and certified professionals . Your customers expect no less. Fitness instructors and personal trainers have to prove themselves. Both in-house personal trainers and freelancers should be motivated and involved.

Leasing the equipment makes sure you have the latest fitness technology. You can test it out. It will often include maintenance of the equipment.

FAQs about opening a gym

1. what are the legal requirements for opening a gym.

The legal procedures for starting a gym can change depending on where it is, but they typically involve getting the required permissions and licenses for businesses, filing taxes, and adhering to construction and safety rules. It’s possible that you’ll additionally require liability insurance to safeguard both your person and your company.

2. How much does it cost to open a gym?

The price to operate a gym can vary significantly depending on a number of elements, including its location, size, equipment, and staff. But it’s usually believed that starting a gym might cost anywhere from $10,000 to $50,000 or more.

3. What equipment do I need to start a gym?

Depending on the kind of gym you’re operating and the services you intend to provide, you’ll need specific equipment to get started. You’ll likely need at the very least mats or other flooring for stretching and other exercises, as well as cardio equipment (such as treadmills and ellipticals), weightlifting equipment (such as barbells and dumbbells), and these items.

4. How do I choose the right location for my gym?

It’s crucial to take into account aspects like accessibility, visibility, parking accessibility, competition, and local demographics when selecting a location for your gym. You might also want to look into the zoning regulations that apply to gyms in the region you’re thinking about.

5. What type of insurance do I need for my gym?

Owners of gyms must have liability insurance, as was previously stated. In the event that a customer gets hurt or sustains damage while using your gym’s equipment or facilities, this will aid in defending you against legal claims. You might also require business interruption insurance, workers’ compensation insurance, and property insurance.

6. What are some marketing strategies for promoting my gym?

Advertising on social media, specialized email campaigns, regional print or radio ads, unique promos and events, and referral programs are all examples of marketing tactics that can be used to promote a gym. Additionally, it’s critical to establish a good internet presence, which includes a website that highlights the offerings of your club.

7. How do I hire and train employees for my gym?

Finding people that are competent and enthusiastic about exercise, customer service, and sales is crucial when hiring staff for your club. To assist in managing various elements of your gym’s operations, you might want to think about employing a mixture of full- and part-time workers. Along with instruction in physical fitness and equipment use, there should also be instruction in customer service and sales.

8. What are some common mistakes to avoid when opening a gym?

Underestimating start-up costs, skipping market research, failing to create a business strategy, selecting the incorrect location or equipment, and underestimating the time and effort needed to run the gym on a daily basis are all common pitfalls to make when launching a gym.

9. How do I create a business plan for my gym?

You must outline your vision and goals, conduct market research to identify your target market, evaluate your competition, decide on a budget and funding sources, and develop a comprehensive financial plan that includes projected revenue, expenses, and profit margins in order to create a business plan for your gym.

10. How do I finance the start-up costs for my gym?

Gym owners have access to a variety of financing choices, such as personal savings, loans from friends and family, bank loans, SBA loans, and crowdsourcing. A franchise opportunity or a partnership with investors are some options you might think about. To help acquire finance, it’s crucial to have a strong company strategy and financial projections in place.

Conclusion on opening a gym

Six months to a year later, your business is now in full flow. You took the steps described in this guide. You stuck to your opening a gym checklist. You realized that a small gym business plan is no different from a huge gym plan.

You are a success because you started off with a business plan that at least includes:

• Client-friendly location
• Fully insured and licensed
• Promoting the business through clients, and online presence
• A booking plugin
• A professional team

Opening a gym can be extremely profitable, not only for your bank account but also for your sense of life satisfaction. Live the dream by starting with a firm foundation and building a true business today.

We hope you enjoyed reading this article about opening a gym created by the team at Amelia (the best WordPress booking system ).

You should also check out this one on starting a fitness business .

We also wrote about a few related subjects like how to be a successful Beachbody coach , gym names , gym management software , gym marketing , managing a gym , gym owner mistakes , personal trainer website , and gym WordPress theme .

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Writing a Gym Business Plan: How-to Guide & Case Study

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This guide will not only show you how to find success similar to OriGym’s business ventures, we’re going to give you a step-by-step break down of how we did it, providing you with all the industry tips for developing your own gym business plan.

Before jumping in, when running a gym, being qualified in all areas of health and fitness is a must! Get started with our Level 4 Sports Nutrition Course by enquiring below or download our course prospectus to see what else we offer.

Step One – Market Research

After deciding to make money as a personal trainer by starting a gym, you need to brainstorm some ideas.

Once you gain experience in the fitness industry, you need to think about what type of gym you feel your target market in your location would benefit from and how that would differ from the competition.

Step Two – Why finding the perfect location is one of the most important aspects of setting up a successful gym

When writing your gym business plan or personal training studio plan, you need to think about the location of the gym. Even if everything else is water-tight, a large part of your success will be determined by where you choose to set up.

Why gym location is so important…

When you’re trying to complete a gym business plan, or any business plan that operates within a specific location for that matter, it only makes sense that your first thoughts should immediately turn to the location of your business premises.

A good location improves your marketing, makes attracting audiences easier, and can be the difference between your business flourishing, or crashing out at the first hurdle.

When setting up OriGym, location was of primary concern:

Luke Hughes:  “When deciding how to set-up a gym, location was key, irrespective of how unique or innovative our later plans were. Before we settled on our final premises to start OriGym, we had visited over 30 different sites. “What’s important to remember is that there are so many variables that you need to consider that could affect your future success of your business. For us, being close to a target audience, and being able to find the right staff was key, so we chose our venue based on these factors.”

What location factors you need to consider when setting up a gym…

As well as business-specific factors, there are also a few practical considerations that you have to keep in mind when you’re choosing the site of your venue.

Any gym business plan that doesn’t consider the following, risks having their business stifled by regulations and red tape…

Luke Hughes:  “We elected to go for a warehouse-based gym that was just off a main A road. Our venue therefore had plenty of accessibility, visibility to passing traffic, and came with a free car park for our gym members. “There were no competing gyms within a three mile radius, no business rates, and rent was low due to it being a warehouse that we converted into a gym”

Before we move on, let’s look at some of the most important factors to consider when drafting up your business plan.

Remember, neglecting to cater for any of the below could see your whole plan, and business, collapse at an early stage.

Council Permission

You might have started with an aesthetic vision for your business, be it a boutique gym, a warehouse conversion, or even an inner-city venue with more of a commercial feel.

Regardless of your plans, one thing that all new gyms need is council permission and landlord authorisation.

On most search engines, you can search via D1 premises, inputting your location and industry to pinpoint ideal locations.

You may believe that you have found the ideal location for your new gym, however, bear in mind that it often turns out to be the case that a premises requires you to officially declare the purposes of your business, in order for you to legally open a gym in that building.

Now, here’s the important part:  it is a legal requirement for a gym in the UK to have D1 planning permission. 

Many applicable sites will already come with this planning permission, but it can become a difficult process if you find a perfect site that only has the planning available for offices or retail.

While the process has many steps – outlined in  this excellent article  – the basics are that you will need to ask the estate agent if the landlord would be willing to support a change of use, before applying via the local council for that planning permission to be accepted.

As you can imagine, this can be a time-consuming process, during which there is the potential for another company to swoop in if they do not require so many changes to existing regulations.

Foot Flow & Visibility

Finding a suitable premises that has a guaranteed foot flow, or, at the very least, consistent volumes of traffic that pass by throughout the day, is critical for setting up a successful gym.

Keep in mind that venues placed on high streets or close to major transportation links often charge more on their leases, as they know this is what most businesses want.

Competition

When writing your gym business plan, you need to conduct a SWOT analysis of the immediate area in relation to your competition.

It’s all well and good securing a gym premises on a busy high street or main road, but if you are setting up a personal training studio next to a large national chain with a massive marketing budget, you could find yourself getting priced out of the market and struggling to make your lease rent.

Accessibility

When contemplating how to start a gym and putting your gym business plan together, you should always consider how accessible your potential venue is to your customers.

Is there good public transportation links such as bus stops and a train station nearby?  Is your prospective venue situated off a main road? Are you in a thriving business area?

You must calculate the cost difference of being on the main road or high street, against the cost of the increases in gym rent and, potentially, reduced gym space.

Future Development Work

Another industry tip to when it comes to opening a gym is to consider what development is planned in the coming years for the surrounding area.

If you find a potential gym premises that has scheduled increased public transport, infrastructural changes, or business development e.g. a nearby business park, you could be getting a real steal on your premises before the land value sores.

When evaluating how much it costs to start a gym, one of the biggest outgoings to consider are the rent fees or lease cost.

Bear in mind that lease costs can vary based on where the venue is located, the type of premises it is, the square foot of the venue, and the level of accessibility / visibility your gym would receive.

Another aspect to take into consideration when evaluating how much it costs to start your own gym are business rates.

A business rate is the tax you pay to the council for having a commercial premises. It is calculated based on the rateable value of that premises. With gyms requiring large spaces, they normally have large business rates that come with the property.

That being said there are a few ways around business rates:

• Firstly, you do not pay business rates on a property under £12,000 per annum.
• A shrewd way of saving money is renting a venue where the space you are renting is part of a larger overall building, meaning your neighbours may be paying the business rates on that property, or you could at least split the costs between your businesses.

Style of Building

One major cost to factor into your gym business plan is if there are any works to the prospective venue that need completing, in addition to any other work in the way of renovation.

Step Three – What services will you offer?

When writing your gym business plan, you need to be clear in your mind what services your gym is going to offer.

Without knowing what you want to offer, you can’t make provisions for target audiences, and without planning for target audiences, you can’t accurately choose a location.

Some services your gym may offer which you haven’t considered may include:

• Protein smoothie bar
• Childcare facility
• Sauna & massage services

Even if you plan on not offering this until the future, you still need to consider if you will have enough to eventually do so.

Step Four – What fitness equipment should you get? Should you buy equipment or lease it?

Of course, there is no one straight forward answer here.

Your budget for equipment depends on factors like what type of gym you are looking to set-up, the overall budget you have for your gym business plan, the size of the premises, and the expertise of your future clientele.

If there was one golden rule – and this applies to all aspects of business planning – it would be to  not get carried away trying to beat your competitors in terms of buying state-of-the-art equipment .

Different gyms have difference client-needs to serve: being the best doesn’t necessarily mean owning the most expensive equipment.

But don’t just take my word for it…

Steph Roberts:  “If your costs for setting up a gym are limited, or you just want to start a personal training studio, having a large functional based space is a great place to start, as it does not require much investment and is multi-purpose. “When we set-up our first gym, we leased a few pieces of cardiovascular machines and fixed resistance equipment as they depreciate in value and soon become outdated. Most of our investment was originally spent on functional equipment, weights such as a squat rack, Olympic bars, and dumbbells as they have a much longer shelf life.”

Where should you buy your fitness equipment from?

Again, there is no straightforward answer to this…

Depending on who your clients are, and what they need from your facility, you might be able to save a lot of money only buying certain, specialist equipment, and avoiding expensive weights machines entirely.

A CrossFit Box, for example, may draw just as many clients as a commercial gym, and will usually have less than half of the equipment.

But if you do need to buy expensive equipment, where can you save money?

Major fitness equipment brands provide finance, and will allow you to lease or buy gym equipment outright if you have the capital to do so. They also provide packaged discounts the more gym equipment you buy, so it’s advisable to coordinate your equipment needs and buy in bulk.

Luke Hughes:  “Looking on Ebay or Gumtree always produces some hidden gems, especially for cardiovascular based equipment such as treadmills, cross trainers, bikes, or rowers for your gym.” “Like most aspects of life, being pro-active has its rewards. “If you see a gym closing down or a gym planning to announce an upgrade on its gym equipment, a pro-active email / phone call could help you secure cheap gym equipment in bulk for your new venue. “In the past, we’ve even had gyms give us used fitness equipment for free, as long as we were willing to come and pick it up!”

Step Five – Where are you getting revenue from?

How much should i charge for gym memberships.

So, you’ve sorted your location, you’ve conducted market research, and you’re certain that your target audience are in the local vicinity of your gym…

One question: why is everything so quiet?

If you’re experiencing a low take-up in your new facility, it’s probably because your prices are too high.

Similarly, if you’re experiencing unprecedented business uptake, but you’re still struggling to pay the rent, then it’s probably because you’re not charging enough.

Choosing how much to charge your members can depend on local competition, what equipment you have secured, and the contact hours you and your staff intend to have with clients (weekly personal training vs. pay-as-you-go gym sessions, for example).

Here are some of the main factors you need to consider:

• Service Ad-ons  – Are you including any additional services, alongside access to the gym? E.g. free personal training sessions, free supplements, or free health checks.
• Gym Facilities  – Is there going to be a pool? Are you also going to be running a fitness class business out of a studio?
• Gym contract  – Normally the longer you get someone to commit to a contract for, the lower the monthly amount they have to pay. Many gyms now do not even have a contract
• Gym Equipment  – How much fitness equipment will there be? Will the gym equipment be branded and new?

Now listen up, because the next step is crucial.

When writing your gym business plan,  you need to factor in how many gym members you believe will sign up to your facility in the early months, and you need to go on to make accurate predictions of your month-by-month growth .

What secondary gym revenue streams will there be?

A well thought out fitness business plan will evaluate every angle of potential revenue that the gym might earn.

When asking yourself how much would it cost to start your own gym, you must first anticipate the possible income generated through your primary services, in order to find out what potential there is for secondary revenue streams.

Here are a few additional revenue streams you might not have factored into your gym or personal training studio business plan:

– – – – –

Before we continue, check out our guides below for advice about getting your fitness business started:

• Personal Trainer Business Plan
• Starting a Personal Training Business Checklist
• Achieving Your Personal Trainer Business Goals

Step Six – Gym advertising and marketing to get your gym off the ground

I can’t tell you how many people neglect this step, and as a result, how quickly their business ambitions fall through the floor.

It is a truth universally acknowledged that in order to succeed in business, you need to learn about marketing.

Or, you need to hire someone who knows about marketing.

Or, pay for freelancers who are professionals in marketing.

Basically,  if you can’t compete with other gyms in terms of marketing, you’re going to lose out. 

Luke Hughes –  “Gym advertising and marketing is extremely important, and you need to have a clear route to market and a gym advertising budget set aside to promote when setting up a gym. “There are two forms of advertising: organic and paid. “Paid gym advertising should be your first point of call to get immediate results, where organic gym advertising should be your long-term strategy.”

Step Seven – Factoring recruitment costs into your gym business plan 

When asking yourself how much would it cost to start a gym, you need to start thinking about how many members of staff you will need, and what their wage will be, determined by their expertise.

Below, we’ve compiled the most important factors you should consider when budgeting for staff and recruitment.

Steph Roberts:  “ When starting a gym, one of the biggest gym costs to place in your gym business plan is staff costs. With OriGym, we used some free platforms and business links to get our first staff without paying any upfront costs to advertise for positions”

So, what are the best avenues for recruiting gym staff?

General Jobs Boards

Featured:  Indeed is the largest jobs board in the world, and it is perfect for starting a private gym as it allows you to advertise jobs in one location, completely free of charge.

Leisure Specific Jobs Boards

• Leisure Opportunities 
• LeisureJobs 
• Active Careers

Featured:  Active Careers is a free jobs board within the health and fitness sector, where you can advertise for fitness-based positions completely free of charge.

Gym Recruitment Agencies

• Flow Sports 
• Leisure Recruitment 4 U 
• Gym Career 

Featured:  Gym Career is a recruitment agency specifically focusing on fitness professionals. With access to a huge database of high quality trainers, you will have plenty to pick from. But be warned, it will come at a financial cost.

Partnering with a fitness training provider

Most reputable fitness training providers have obligations to their graduates after they have finished completing their fitness qualifications, including guaranteeing interviews with gyms.

By offering to help their fitness instructing and personal training graduates find employment, you get a new staff member and the training provider fulfils their promises to their students.

What personal training structure should you use?

Remember, the structure with which you pay your personal trainers can drastically affect both your ability to earn, and theirs.

You want to design a structure that is enticing in order to attract the best personal trainers, but also one that ensures that your business remains profitable.

Steph Roberts:  “ There are many different ways to offer personal training in your gym. In general, you can treat your trainers as a revenue stream, or hire them on an annual salary. At OriGym we combined paying some of our trainers per hour with options where freelance trainers could pay per client they bought into the gym. “This allowed us to generate some income, but still have the best trainers around for our gym members to work with.”

For more information on how much you should charge for your fitness service, check out our article on How Much You Should Charge as a Personal Trainer?

Step Eight – Gym Insurance

There are many legality issues that you need to factor into your gym business plan, and taking out a policy of public liability insurance is an absolute must.

Insurance companies such as Protectivity and Insure4sport specialise in gym insurance and have specific packages to cater for the following:

Step Nine – Unexpected overheads to consider in your gym business plan

As any business owner will tell you, it is often the aspects of running a venue that you can’t plan for that will cause you to lose sleep at night.  

Even if you have the best gym business plan in the world, planned to every immaculate detail, there’s always going to be something at the end of the month that you didn’t expect.

Of course, one problem with unexpected costs is that we can’t exactly write a definitive list of what they might be… Otherwise, they wouldn’t be unexpected, would they?

However, some costs to consider include:

• Insurance Costs
• Equipment Maintenance & Repairs
• Utility Costs
• Cleaning & Sanitation Supplies

You’ve made it through all the foundational steps of drafting your gym business plan, and got some valube insights from OriGym’s co-owners along the way.

Deserved pats on backs all round.

But we’re not done yet…

For the serious prospective gym owners, below you can find everything you need to know – and what we wish we’d known – in order to execute your gym business plan to its maximum potential.

Why it helps to be personal training qualified before opening a gym

There are many successful gyms out there being run by individuals who have never set foot in a classroom to complete their level 2 or level 3 personal training courses .

And it’s true, business acumen, a sharp eye for marketing, and a great sense of timing are all aspects that are going to help you succeed if you’re looking to open your own gym: all skills more aligned with a business graduate than with a fitness one.

But there are also some huge benefits if you’re a qualified personal trainer looking to expand your business by owning your own venue…

Luke Hughes:  “ Becoming PT qualified enables you to understand the market, in addition to the needs of your customers and staff to provide a better service. “Additionally, if you are planning to run personal training sessions, conduct gym inductions or perform health checks yourself, you must be PT qualified to do this legally. “Lastly, even if you have no intention of running any physical sessions yourself, you can fill in for staff absences, holidays or sickness to keep your customers happy.”

How should you name your brand?

Creating a brand is the aspect of setting up a business that many entrepreneurs get excited by.

After all, this may be the culmination of years of planning and ambition, so you want to be proud of the sign above your door and the branding of your website.

There’s only one small problem: it’s actually pretty difficult…

Creating a memorable fitness brand name that leaves a clear first impression of what your business does is crucial when learning how to set up a gym.

Find out more by checking out our article on Personal Trainer Business Names here .

Steph Roberts:  “We selected OriGym as our brand name as it combined the word “original” with the word “gym” to capture our brand ethos.” 

Registering your gym or personal training studio on Companies House.

What you register your business name as on Companies House has little bearing to what name you can market as a trading name, as long as this is transparent on your website and marketing materials. Getting your brand name trademark protected is far more valuable and should be a priority when incorporation incurs.

Don’t forget to pencil in a pre-sale event into your gym business plan!

Ever wondered how all those new gyms seem so busy as soon as their doors open?

Well, now you have an answer, and its gym pre-sales.

Once you’ve established the day that your gym will open, you should immediately launch a gym-presale event in order to attract your first members.

The whole idea of your presale is to draw customers to your new facility, and the easiest way to do this is to offer a discounted price for pre-sale clients.

Here’s an example of a launch offer from PureGym when opening a new venue in Wimbledon:

Remember, marketing is a key aspect of your gym business plan, and this kind of campaign is an easy win in terms of attracting some early customers and attention.

Add to your pre-sale by offering virtual tours of what your gym is going to look like upon completion, and by offering brochures with price-lists for more services (this way, new clients can see how much money they are saving too!).

And with that, our guide to writing the ultimate gym business plan is complete!

If you follow all the steps outlined above and deliver a unique service to your area, you’ll set yourself on the right path to expanding your local business into a national one.

To be the ultimate gym owner, it’s important to give yourself the best range of knowledge and there’s no better way to do this than by gaining additional qualifications. Get started with our Level 4 Sports Nutrition Course to see how you can help gym goers live a healthier lifestyle.

For all you need to know in terms of available career paths, download our free prospectus .

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Starting a Fitness Business: A Step-by-Step Guide

Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money .

Starting a fitness business is a heavy lift (pun intended). But it can also be a very rewarding industry to work in. You are helping people accomplish their fitness goals, and in turn, helping them to live healthier lives.

If you're looking to start a business with lucrative potential, this is a great industry to be in—the global health and fitness club market is projected to grow at a rate of 10.6% from 2018 to 2023. Furthermore, according to the 2019 International Health, Racquet and Sportsclub Association (IHSRA) Global Report, the United States health club industry generated a record $32.3 billion in 2018. Comparatively, the United States health club industry only generated $25.8 billion in revenue in 2015.

If you're a fitness junkie, you already enjoy breaking a sweat. Now it's time to put in a different kind of work. Here's everything you need to do when starting a fitness business.

Starting a fitness business in 6 steps

A good fitness business is centered around providing excellent equipment, professional instruction, and personal training. But starting a fitness business requires a lot more than that. Here are the six steps you'll need to take to start your fitness business.

How much do you need?

with Fundera by NerdWallet

We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

Step 1: Decide what kind of fitness business you want to operate

There are many different kinds of fitness businesses out there. You can become a personal trainer, teach classes, or operate your own facility. There are pros and cons to each. Being a personal trainer is a low overhead venture if you're wondering how to start a fitness business with no money, but it requires in-depth knowledge of exercise and nutrition techniques. Operating a facility, on the other hand, requires a lot of overhead, but you can lean on the expertise of others. There are also gym franchising options to consider when thinking about starting a fitness business. Popular franchises include Crunch Fitness, Planet Fitness, and Pure Barre—you might even consider starting a Crossfit box.

If you're in need of inspiration for starting your fitness business, here are some popular options to consider:

Zumba studio

Physical therapy

Spin classes

Powerlifting gym

Yoga studio

Pilates studio

Step 2: Get trained

The next step in starting a fitness business is to get some training. Whether you want to know how to start a fitness training business or manage a gym, you need to have some background in fitness in order for people to actually think you know what you're doing. Good places to get credentialed include the National Strength and Conditioning Association (NSCA), American Council on Exercise, or National Academy of Sports Medicine. Legitimate certifications are accredited by either the NCCA (National Commission of Certifying Agencies) or the DEAC (Distance Education Accrediting Commission).

Of course, training in fitness isn't the only education you'll need. You're also going to need to do a lot of research into learning exactly what it takes to start a business.

Step 3: Write a business plan and select an entity

This step is pretty similar regardless of whether you're starting a fitness business or any other kind of business. When you’re writing a business plan, there’s a lot you'll need to include. You might find it helpful to use a business plan template to make sure you cover all of your bases.

Factors to consider when writing your business plan include:

An analysis of the market

Who your competition is

Marketing and sales plan

Financial plan and projections

The key is to make sure there's a need for your business and that you'll be able to generate enough business to continue operating after you've invested so much to get started.

Another important part of your business plan when starting up a fitness business is selecting your business entity. Given the nature of the fitness business, you should go with a business entity that offers owners some protection from liability. A limited liability partnership or limited liability company might make the most sense for you if you’re looking for some liability protection.

Step 4: Get necessary permits and insurance

There may be certain business licenses and permits required to operate a gym in your state and locality. You should check with your town, city, or county clerk’s office to make sure you're following all the regulations outlined by your various governing agencies for starting a fitness business.

One permit you'll most certainly need is a certificate of occupancy. A certificate of occupancy confirms that all building codes, zoning laws, and government regulations have been met. If you're leasing your gym space, it is typically the landlord's responsibility to obtain a certificate of occupancy.

Operating a gym also comes with some risks that opening another business might not. People are going to be working out, using equipment, walking around things they can trip over, and doing other potentially hazardous activities. You’ll want to make sure you get small business insurance for a host of scenarios so that if anything happens to someone while they’re in your gym, the business is covered.

You also want to be covered in the event that equipment is stolen or damaged. You might even want to encourage any instructors you hire to get personal trainer insurance as well.

Step 5: Get an EIN

There are a lot of reasons you need an employer identification number (EIN). It allows you to file taxes and avoid tax penalties, open a business bank account, speed up loan applications, establish business credit, and a lot more.

You can apply for an employer identification number online through the IRS. If you register with the IRS online, you should receive an EIN within minutes. Note that fitness businesses operating as sole proprietorships don't need an EIN, but it is still a good idea to get one for the aforementioned benefits.

Step 6: Get funding

If you're wondering how to start a fitness business with no money, some ventures aren't cheap, but you do have funding options that may work for you. According to health club consultant Bryan O'Rourke, costs start at $30,000 but can quickly soar to $500,000. What's more, getting a fitness business up and running takes some time—so you'll need to have a little in the bank.

If you’re looking for some startup funding there are a few options available to you, such as an SBA loan , a business line of credit, or a personal loan.

A business line of credit would give you access to money that you could pull from if you needed it in your early days of starting a fitness business. The difference between a line of credit and a loan is that while the money is available to you, you only have to pay interest on the funds you actually draw on.

There's also gym equipment financing , which is another great option if you're wondering how to start a fitness business with no money. The gym equipment purchased with the proceeds of the financing will, in turn, act as collateral for the gym equipment finance loan used to purchase it.

7 tips for starting a fitness business

Now that you know the steps you need to take when starting a fitness business, let's provide you with some tips that will help your business thrive. To provide you with the best advice possible, we talked to entrepreneurs who successfully started their own fitness business. Here's what they had to say:

1. Personalize your fitness business

The health and fitness club market is expected to grow to be a $147.1 billion industry by 2024, with an emphasis on personalized training.

Consider ClassPass, which operates in 18 countries around the world and is valued at $600 million. ClassPass teams up with classes at boutique studios to offer everything from cycling to yoga to dance to martial arts for its members. For a $19-$199 (which varies by subscription plan) monthly fee, members enjoy unlimited classes to studios in the ClassPass network and can attend the same studio up to a certain limit each month.

ClassPass’ success story is one example that customers want specialized, niche workouts offered in fitness boutique studios. If you're wondering how to start a fitness class business that will be attractive to a growing clientele, this is one example to follow. Other such examples include ShadowBox, a fitness boxing studio; GoRow Studios, a gym that specializes in workouts using rowing machines; then there’s modelFIT, a gym in New York and Los Angeles that is "marrying mindful nutrition with mindful exercise" and is a popular hangout for celebrities.

“People are kind of shying away from the lone wolf workout of going to a box or a membership gym because the [boutique fitness] market is more efficient,” says Eric Posner, CEO and co-founder of boutique cycling studio Swerve Fitness in New York City. “You get a better workout in a less amount of time and pay less than you would for a personal trainer by going to a fitness boutique.”

2. Make your fitness studio a place to hang out

In a panel discussion hosted by American Express' U.S. Small Merchants Group, ClassPass founder Payal Kadakia said fitness studios are “like the new restaurant scene"—it’s not just about burning calories and working out; it’s about the experience and lifestyle. It's paramount you know this if you want to know how to start a fitness business.

This concept of hanging out at your workout spot is how Posner, along with his co-founders Chelsea Kocis and John Henry McNierney came up with the idea for Swerve. It was just a few years ago that the three co-founders, who at the time were college athletes-turned-finance professionals, found themselves tired of taking clients through the typical dinner-and-drinks routine. Instead, they took them to cycling classes.

"We found this to be an unbelievable way to build relationships that were meaningful, as opposed to the typical steak dinners and drinks," says Posner.

“We were going to mostly cycling classes and what we saw about these classes was there were unbelievable ways to get an efficient workout in and do it with other people, but [these classes] weren't capturing the camaraderie of going with a group or going with other people. It was very individualistic,” continues Posner. “So, that's how we came up with the concept of a team-inspired indoor cycling workout.”

Making your gym a place people want to hang not only brings customers in the door, but also makes your fitness business a place they'll want to return to again and again.

3. Incorporate data into your services

We live in a data-driven world, so it makes sense that people want data-driven workouts. People want to see how many calories they burned, how their current performance compares to their past averages, and how they compare to other people—basically what they achieve when they leave a workout session.

Take the technologically-savvy Swerve workout room for example, where riders are divided into teams and try to bike their way to the highest score.

“Technology is playing a big role and the way that [Swerve was] able to tap into that is we have a console—you have a console on your bike—and you see your own personal metrics on this console during class,” explains Posner. “And there are big flat screens behind the instructors where you see your team's average score. After class, all your stats—and this shows how many miles you biked, how many calories you burned, where you ranked in class, and all that—can be viewed on your account profile.”

“So, we find that to be a huge motivating tactic for our riders… and that kind of adds another layer of accountability and it's very results-driven.” Want to know how to start a fitness business that will keep clients coming back? Give them the tools and data to accomplish their personal fitness goals.

4. Specialize in a type of workout or demographic

When Alana Kessler opened the doors to her yoga studio in 2009, she quickly realized classes offered to pregnant mothers who have busy, working lives basically didn’t exist. As a result, Kessler made prenatal classes essential to Sangha Yoga Shala's list of classes offered and has since then built a name for herself.

The key to how to start a fitness training business that offers quality, specialized classes is that you can’t skimp on good trainers. Spend time training instructors and finding excellent ones who will give your customers consistent results every time they’re in front of the class. If you want to know how to start a fitness business, the first thing you should figure out is how to acquire awesome trainer talent.

“I encourage my teachers to build,” advises Kessler. “I incentivize them to build with me. Some [studios] might tap out at a low rate to keep their overhead low, but I pay my teachers well.”

5. Get your studio on social media

Vanessa Packer, co-founder of modelFIT, told the audience at American Express' panel discussion that Instagram played an “instrumental part” in helping modelFIT become a lifestyle instead of just a gym. This means reaching out and engaging with your community on social media.

Do you make it easy for customers to post about their experience? Do you respond in a timely manner that builds connections with existing clients? Additionally, have you thought about untraditional marketing strategies to spread the word for your business? For example, ClassPass gave away passes to influential fitness bloggers in the beginning to quickly get their story out there. What social media marketing techniques could your fitness business do?

6. You'll need to wear many hats

According to Tyler Sellers, senior coach at Total Shape, starting a fitness business requires a lot more than just fitness instruction.

"You must be well-prepared for the behind-the-scenes logistics, especially at the start. As a piece of advice, being a small business owner means that you are the accountant, the administrator, the marketer, and the trainer at the same time," Sellers says.

7. Hire excellent staff

When Laurel Roach started TriFIT Wellness, a corporate wellness training facility in Phoenix, AZ, she says she didn't have a background in the fitness business. Therefore, she had to lean on the staff she hired in order to make her business a success.

"I recommend hiring the most qualified trainers because the wellness industry is notoriously under-regulated," says Roach. "Genuinely passionate employees are difficult to replace so make it a priority to hire and retain the trainers that make your customers feel like an all-star."

LLC Formation

The bottom line

Starting a fitness business is a lot of hard work. But if you succeed, you'll join a booming industry that helps people live their life to the fullest.

This article originally appeared on JustBusiness, a subsidiary of NerdWallet.

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How to Create a Gym Business Plan

by I.J. Karam | Nov 30, 2020 | Business Plans

Are you planning to open a new gym? Want to raise funds via bank loans or investors to finance your dream fitness club? In that case, loan officers and potential investors would like to see a robust, data-driven and professionally written gym business plan . More than anything, it will show them whether you know exactly what takes to launch a new gym business and turn it into a sustainable venture.

Before we get started, you might be interested to check out our Ready-made Gym Business Plan Template with pre-written text and automatic financials which you can easily customize and adapt to your own project, no financial expertise required .

A business plan is a must-have for every budding entrepreneur looking to raise capital for his or her project. That said, even self-funded projects need one, since a detailed plan acts as a road map for building a successful and sustainable business.

That brings us to the main question: How do you write an effective business plan for a gym?

Writing a comprehensive gym business plan, as you may guess, is a detailed and demanding process. When done correctly, it helps in clearly defining each step and key factor linked with launching a successful venture .

In this post, we will take you through all the steps involved in the writing of a compelling gym business plan. So let’s get rolling.

Outline for a Gym Business Plan

Before discussing each section in detail, here is a brief outline of what should be included in your gym business plan:

Executive Summary

Company Overview

• Market Research and Market Analysis
• Sales Forecast and Strategies
• Services, Programs, and Products
• Equipment and Facilities

Financial Projections

The importance of having a strong, compelling executive summary cannot be stated enough. If the initial few pages of your plan don’t pique interest and enthuse confidence, investors may not read further.

Precisely for this reason, ensure your executive summary is captivating and draws the readers in, showing them early on that you not only have an awesome business idea but have done a thorough homework.

So how can you ensure your executive summary lays out a compelling case for your fitness club?

Your executive summary must clearly outline the following:

The what – What are your business goals? The why – What is your mission? The how – What’s going to turn your fitness center into a success story? The bigger picture – What is your vision?

Answer these questions in your executive summary and potential investors will be all ears.

Which business model you will be following? What are the strengths of your business model?

What kind of market demand your fitness club aims to fulfill?

What key data support your business concept?

Why customers will pick your gym business over others? What are your unique selling points?

What is your sales forecast and financial projections for the first three years?

How much capital do you want to raise?

Even though an executive summary is the most crucial document of your business plan, you should write it last, after you have created all other sections. This way you will have the answers to all the above-listed questions when you sit down to pen the executive summary and consequently will be able to put forward a more compelling case.

This is where you should put passion onto paper. In the first section of your business plan, you briefly outlined your mission and vision. Now is the chance to elaborate these points to give potential investors further insight into your gym business.

You should cover the following points:

The purpose of your fitness club Who will be your target audience How do you plan to achieve your business aims

If you want, you can have a more personal mission statement. You can talk about the outcome you desire from your venture.

Here’s an example of a personal mission statement:

To bring innovation and inspiration to all athletes. If you are enthusiastic about working out and staying fit, you can count on us to help you achieve your fitness goals.

Think about your main reason for joining this business niche and share it.

Do you want to change something about the fitness world? Do you want to make it a little better? Like we said above, this is the time to put passion onto paper.

Next, share your history in brief with your readers.

Some of the questions you must answer to convince them you are serious about your new fitness venture are:

What have you achieved previously? Do you have a previous experience in the gym business? Have you ever run a business before? If yes, in which industry and for how long? What is your current status?

Information shared in this section will help potential investors understand your journey so far, besides giving them a clear picture of your future plans. Remember, the more investors know about you the businessman, the more likely are they to trust you.

Next outline your business strategy. List the services you will be offering right off the bat, your plan for developing the business, and the new offerings you plan to include later on. Perhaps you plan to rope in a gym instructor or set up a new facility such as a workout studio or spa. This information will help you understand when and/or where you may need extra space or additional funding.

Market Research and Analysis

Start this section by communicating the latest trends of the fitness industry. In addition to that, discuss your specific market location in detail. This should include information regarding local competition. Also, use this space to define your target market.

Your target market might be:

Working professional Senior executives Housewives Schools Students

It also might be a specific group, like yoga enthusiasts, body builders or cyclists.

Once you have zeroed in on your target audience, it’s time to explore just why they would like to join your fitness club. For instance, if you target audience is cyclists, they may want to join your gym for cardio and spinning workouts. Similarly yoga enthusiasts may queue up for a membership because a highly-experienced yoga teacher will conduct classes in your fitness center twice a week.

A thorough market research helps you understand your target audience better. Now it is time to ask yourself these questions:

How will you gain the loyalty of your target audience? What are your strengths? What factors make you stand apart from the competition? Why would customers choose you over others? What kind of membership package would work best for you? Is there a good demand for special equipment?

When you sit down to answer these questions, you will be automatically able to define your business’s unique selling point (or USP for short). More than anything, this information will tell your potential investors why your gym is a great investment opportunity — one they would not want to miss out.

Market analysis and research is a key element of why your venture will be successful, so spend as much time you need to gather all relevant information and present it in a precise, neat manner.

Marketing and Sales Forecasts

In this section, outline the marketing and sales strategies you will follow. In addition to them, outline your sales forecasts for at least first three years.

With regards to marketing, you may include a number of channels below:

Online Advertising Search Loyalty plans and referrals Sponsorships Email marketing Radio Word of mouth

Some of the questions you should address in this section include the following:

What are the different membership plans that you will offer and how much you plan to charge for each? What are your sales forecasts for the first year, second year, and third year? How do you plan to convert your target audience into paying and long-term customers? What marketing strategies and promotional offers you plan to use during pre-launch and post-launch? What is your plan for retaining customers?

One thing that you should understand is that your sales forecasts should be realistic. If you cannot back them up with data, you will have a hard time convincing investors that your projections are based on hard facts rather than wishful thinking.

Products and Services

This is where you should introduce your products and services to your readers.

Here are a few examples of products that you may need to buy:

Gym equipment (rowing machines, treadmills, elliptical trainer, stationary bicycle, recumbent bicycle, etc.) Specialist equipment (you may want to invest in top-quality and latest equipment to attract members such as body-builders, etc.) Beverages and food items (health foods, energy drinks, etc.)

Here are a few services that you may want to offer at your gym:

Personal training Fitness classes (body pump, yoga, aerobics, spinning, etc.) Spa Lockers Physiotherapy Swimming pool

Do more than list the products and services you will offer. Instead, highlight the benefits of each. For instance, with the help of hard facts, you may be able to show that gyms that offer a range of fitness classes (like yoga classes, cardio workout sessions, spinning classes, etc.) do better business than those that don’t.

Next, create a pricing list. The simplest way to create a pricing list is to use bullet points to highlight the rate of specific products and services.

This is the section where you need to breakdown:

Your staff profile Your management profile Your organizational structure Your compensation and benefits plan

Do you plan to manage the fitness club yourself? If so, mention that, as well as any prior experience or qualification that makes you a suitable person for this role. You may also consider adding your bio along with the rest of the management profile in the last section of the business plan — the appendix.

Also, create an organizational chart that includes all non-management staff that you are going to need (receptionist, cardio trainers, weight trainers, yoga teachers, etc.)

Two of the biggest expenses for the majority of gym operators are rent and labor. Therefore, carefully planning your compensation and benefits plan is crucial. Remember how you structure the compensation and the business plan will have a huge bearing on your ability to create and, no less importantly, retain a good team and will impact your short-term and long-term business goals.

This section is likely to take the most time to create. However, since it can make or break your chance to raise the necessary capital, leave no stone unturned while preparing your financial projections.

Your financial projections should be as comprehensive as possible, but to help investors understand and absorb the information, use charts and graphs. Include balance sheets, income statements, and cash flow statements for a minimum of three years based on three scenarios: ideal scenario, expected scenario, and worst-case scenario.

However, showcasing financial projections is not enough. You must also be able to provide context for the numbers you have mentioned. One way to do that is by comparing your numbers to your industry benchmarks.

Don’t forget to include membership and service ramp ups, staff compensation, and membership churn in your financial projections.

After you have figured out all the data, summarize it neatly using graphs and charts, define the assumptions you have made, and pen a short, to-the-point introduction for this all-important section.

This is the last section of your fitness club business plan. This is where you will add all the supporting documents such as:

Resume of your management team Your own resume Job descriptions Demographic information Marketing plan specifics Facility plans Promotions and creatives

Final Words

Launching a new fitness venture is exciting, but if you want to raise capital or create a roadmap for success, you need a detailed business plan. Follow the tips shared in this post and you will have no problem creating a thorough gym business plan, one that helps you judge the viability of your business idea, develop business goals and attract funding.

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