How to Write a Personal Trainer Business Plan
The personal trainer industry has been growing and expanding at a moderate pace which has, in turn, developed a healthy demand for personal trainer business plans, personal trainer business plan templates, and personal trainer pro forma financial projections.
There are numerous reasons why the personal trainer industry is growing. For example, our personal trainer business plan writer has found that as a society, we are more in tune with healthy lifestyles than previous generations. Healthy lifestyles are almost unattainable without professional guidance from healthcare professionals such as personal trainers.
Regardless of why the need for personal training business plans is increasing, having a well-written personal training business plan ready to go at a moment's notice is an excellent strategic move. From this, our personal training business plan writer has come up with some tips and tricks for entrepreneurs to use when writing their own personal training business plan, business plan template, and or pro forma financial projections.
CHECK OUT OUR PERSONAL TRAINER BUSINESS PLAN TEMPLATE
Executive Summary for a Personal Trainer Business Plan or Template.
The executive summary section for the personal trainer business plan should include common segments similar to a fitness center business plan like the name of the company, hours of operation, a brief bio summary for the owner, and any niche personal trainer services provided such as athletic training, weight loss, or dietary guidance. Further, our personal trainer business plan writer also recommends explaining how operations will work. For example, if the personal fitness business will operate out of a fixed location, then make sure to state it. However, some personal trainers businesses meet clients at different gyms or fitness centers. If this is the business model embraced, then definitely disclose it in your executive summary as well.
Company Information and Location for a Personal Trainer Business Plan.
The company information section of a personal trainer business plan should again highlight and summarize the name of the organization, services provided, and hours of operation. Further, make sure to state one or two differentiating factors about your personal training company that will set you apart from other competitors. To illustrate, your organization may require specific training and educational requirements for your trainers. This requirement alone often sets personal trainers apart from competitors. Also, niche services may be an important distinction for your firm to discuss as well. Some niche services may be specializing in weight loss or training high school students for athletic competitions.
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Popular Services Offered by a Personal Trainer Company.
The services section of a personal trainer business plan often includes training packages sold to customers and complementary health and fitness products. For example, some personal trainers will provide discounts for services when their client purchases five or 10 personal training sessions. Also, some personal trainers will also sell complementary products such as dietary supplements, weightlifting gear, weight belts, and handgrips. When a personal trainer business provides both products and services, make sure to carefully craft the segment to first discuss personal training services provided and packages offered. Once details are provided related to services, then discuss complementary products and services like dietary supplements, etc. In following this structure, personal trainer business owners are able to show the reader that their core competency is training, and the products sold are secondary revenue generators.
Proforma Financial Projections for a Personal Trainer Company.
Pro forma financial projections for personal trainer businesses can be a bit tricky to construct because competitors in this industry often sell both services as well as products. For the most part, though, our personal trainer pro forma financial projection professional prefers to use two revenue lines for this type of business. The first revenue line will be the number of training sessions sold daily and the average price received for each session. The second revenue line will be the average number of products sold, the average number of customers serviced, and the average variable costs for the products. By breaking up products and services into two revenue segments, business plan writers are able to show the stark contrast between revenues generated as services and product sales. The structure also adds credibility to the product description section, which claims that services provided are the main revenue generator whereas products sold are a far second.
Hopefully, these insightful tips and tricks for writing a business plan were helpful. As always, if you need help with a business plan or financial projections, just send us an email or give us a call.
Author: Paul Borosky, Doctoral Candidate, MBA., Author
Owner of: Quality Business Plan, and Quality Business Consultant.