The Architecture You Base Your PT Business On.
A successful personal training business is one that starts based on a solid business plan. It's not only the foundation of your business, it's also a tool to make sure you’re on track.
If your future plans include goals such as owning a studio and all your own equipment, growing your client base to the point that you need to hire staff, and of course, generating enough income to support your chosen lifestyle, then you must start with a business plan
Why do PTs Need a Business Plan?
Mike Tyson once said, "everyone has a plan until they get punched in the mouth." In other words, thinking about your business and how you'll react to threats and opportunities is just as important as the plan itself. When you start to put your plan together, the first thing you need to do is to clear business strategy in mind. What services will you offer? What do you hope to achieve? What are your goals? What’s the purpose of your business?
If you’re looking to borrow money to launch your business. The first thing your bank will ask to see is a comprehensive business plan with a clear vision, goals and objectives
The creation of a business plan will also ensure you analyze two critical components:
- Your Clients
Who is your ideal client? What are they looking to achieve? Why will they choose you to chart their fitness journey? The better you understand your clients, the better service you'll provide them and the easier it will be to target them with your marketing strategy.
- The Competition
You need a clear idea of who you're up against. Otherwise, how you can you offer things they don't? If you're going to create a working competitive advantage, you need to know who your competitors are—why they're successful, or what their failings have been.
There are many reasons you need a business plan, but to nutshell the whole concept, think of it this way; your business plan is like a road map. You can travel without one, but you risk getting lost along the way. Everything contained in your business plan will revolve around and support your strategy.
How to Write a Winning Business Plan
A comprehensive business plan requires detailed information in a clear format. This downloadable guide can help you write out a business plan that outlines your strategy, crystallize your ideas and identify priorities, saving both time and effort.
The eBook, Strategy is at the heart of your business plan, covers:
- Crunching the numbers—we walk you through a break-even service rate analysis that will tell you if your personal training business is financially feasible.
- The nuts and bolts—four key steps to your business plan:
1. A business overview, including your business structure and location
2. A detailed outline of your personal training services
3. Marketing strategy—from your competitive advantage to social media, this is how to get the marketing mix right
4. A detailed financial plan
- The actual writing—how to begin putting all your ideas together.
Once your business plan is written, keep it close at hand. Review it regularly so you know you’re staying on target with your goals, and update it when necessary. Don’t make the mistake of ignoring it once your business is through the start-up phase. Revising and updating your plan will keep it relevant as a roadmap for your business.
Are you ready to get your business plan underway? Download the guide and get it moving!