Personal Trainer Business Plan

iPT lessons are free thanks to our trusted partners: My Personal Trainer Website - https://bit.ly/32AKe3y PT Distinction - https://bit.ly/2VOfx8C Online Trainer Academy - https://bit.ly/2ptaVc5 PT Minder - https://bit.ly/2IWHfuC The first thing you do with your clients if you want them to succeed is create a plan. So the first thing we need to do to make sure that your fitness business succeeds is create a plan. Original Lesson: https://www.instituteofpersonaltraine... During the process of writing a business plan you will be presented with questions, ideas or challenges that you might not have thought of before. This alone makes it worth doing, it will help you to start as you mean to go on with your eyes open and intentions clear.  We’ve created a template for you to use that you can download in the original lesson. We’re going to briefly talk about each of the sections now. Executive Summary The first section of the business plan is the executive summary. It is an overview of what the business does, the business aims and a summary of the financial projections. Elevator Pitch The elevator pitch is a very brief (a couple of sentences) summary of what you do. This is what you would say when somebody asks you what you do. Again, leave this section until the end of the business plan. Owner(s) Background This section is for the qualifications, experience and goals of the owner(s). This section is for both an outside observer to get an idea of the owners of the company and also for you to gain clarity on your strong and weak points, what you do and don’t have experience in. Products & Services Do you sell a product, a service or both? Personal training is a service business – you offer your time and expertise to the client. Examples of products would be selling supplements from your studio or selling an e-book or workout plan online. You will have a core product/service; the bread and butter of your business – which is probably personal training. You may also choose to have additional offerings to supplement your income and possible make passive income. Explain the products in detail, what they offer the client, how they are delivered and the resources needed to create/deliver them. The Market The market is the potential clients that your products and services are aimed at. You want to research as much information as possible about your target demographic. Who are they, what are their typical behaviours and why do they want to do business with you? Market Research Market research can come from first-hand experience as well as formal research or information found online. What do you know about the buying habits of your potential clients? How big is the market and in which direction is it headed? How much competition is in your area/niche and is there room for you? Marketing Strategy Marketing is the lifeblood of your business. Without successful marketing, people will not find your business and you will not make sales. It might not be as enjoyable as training someone, but it is as important – you need somebody to train to begin with! Competitor Analysis Who else is offering a similar product/service to you, or otherwise serving the same need for the client? Write down their strengths and weaknesses. This is important to see where you can get an advantage and be better than them.