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Once you’ve made the decision to go solo, prepare to open your own fitness business by creating a polished business plan. Mapping out your vision for success in detail, and on paper, will manage realistic expectations and clearly define your business goals. Here are four steps to get you started.
• Create a mission statement. Knowing what you want to achieve as a business owner and as a business will help shape your path to success and inspire others to join you and your mission. Whether you want to revolutionize the sport of bodybuilding or help your clients lose those last ten pounds, infuse your mission statement with a specific direction and purpose.
• Define your growth plan. Developing a business requires research and a market analysis. Understanding fitness trends, your target market and where potential clients spend money will help define your growth plan.
• Get “real” about budgeting. Create a business ledger, and list out every cost associated with your business. From equipment to insurance and marketing, and everything in-between, make sure you have a thorough budget established along with a financial forecast. Know how many clients you need to first break even, then profit and grow.
• Recruit a professional network. Seek assistance from an accountant, lawyer, insurance agent and related professionals as you create your business framework. Their services will come in handy when you need a contract read, have a tax question or need to secure liability insurance quickly. In some cases, you may even have a potentially helpful professional within your client base. If so, consider a barter agreement to tap their expertise.
If you’re disciplined enough to draft a business plan, you’re setting yourself up to refine your goals; a plan can determine not only your destination, but also how you’ll get there. Need help? Don’t shy away from using your connections in the training community. Getting great advice from experienced professionals may help you grow faster and stay in business for the long haul.
Keeping your clients on track with their workout goals is easier than ever with FitnessBuilder Pro on your iPhone, Apple Watch, Android and the Web. PumpOne’s complete workout guidance, tracking and scheduling tools include more than 1,000 workouts, or you can create your own sessions from 7,000 exercise images and videos. Download it from the App Store or Google Play, or sign up at PumpOne.com.