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It’s the will to prepare to win that matters.” Knowing the structure of your business, understanding your target market and Unique Selling Point (USP), forecasting your financials, and hashing out any other details about your future gym: these are the vital components needed to create a valuable business plan. This venture could see you outlay on equipment, personal trainers, class instructors, insurance policies, property fees, and more, depending on the scope of your gym.If you’re comfortable financially, think about how much personal time you are willing to sacrifice, especially in the beginning.Once completed, your business plan will be a roadmap to your success, to keep you informed when you’re making big decisions, and to persuade potential partners or investors to join you on your journey.
You can flesh out these points in your company overview.
In your executive summary, you briefly outlined your vision and mission statement.
Cover: Your mission statement can be more personal. Here’s an example from Nike: “To bring inspiration and innovation to every athlete in the world.
If you have a body, you have an athlete” Consider the main reason you decided to go into this industry and share it.
Maintaining that work/life balance is one of the greatest challenges of starting any business; you’ll probably need extra working hours to become fully operational.
Remember, though, that money and time won’t be enough to pass ‘Go’ if you don’t have good people skills, a savvy head for marketing and sales, or the ability to manage your finances (unless you have extra cash to splash out on skilled people ...).
Because the first step you need to take is creating a gym business plan.
As the notorious American football coach, Paul “Bear” Bryant, once said, “It’s not the will to win that matters—everyone has that.
But here’s the good news: it will be worth the money and the hard work if this is your passion.
And a big or small gym business plan is a reliable way to make that dream a reality.