Personal trainer business plan and costs
If you’re planning to launch a personal training business, you’re going to need to draft up a personal trainer business plan to make sure you can be as successful as possible.
Running a personal trainer business, like any other venture, must be rooted in fiscal and market realities.
You need to create a plan for your business which tackles the viability of your services, personal trainer costs, how it’s structured, what you offer and how you’ll deal with the variables and hurdles you’ll encounter.
To do this well, you need a personal trainer business plan.
Why write a personal training business plan?
Understanding, planning, and communicating key aspects of your business – such as personal trainer costs, market niche, competition, structure, intent, forecasts, and funding – is a fundamental operating requirement that’s best laid out in a formal business plan.
If you create such a formal document, you’ll have fashioned a well thought out plan of action for your business which will ultimately poise you for success.
Pro Tip: If you happen to be seeking financing for your venture, or are approaching a business advisor for advice, a personal trainer business plan is an essential asset to bring to the table.
How do I write a personal training business plan?
As a personal trainer, it’s possible that scripting a business plan isn’t your strong point. Luckily, with a small amount of direction, writing a personal training business plan can be a straight forward affair.
Your personal training business plan should address and include:
- a business overview
- an executive summary
- team & management details
- your products and services
- your operations
- a market and competitor analysis
- marketing and promotion plans
- a financial analysis
- plans for the future.
We’ve provided a business plan template here to help guide your writing, however, before doing so, it’s wise to take in a few extra tips.
- Keep it concise and on point.
- Research all aspects of your plan thoroughly and diligently.
- Think of your audience and perhaps create several versions (is this for your advisor, yourself or for the purposes of gaining financing?)
- Keep it highly professional and pay attention to structure, punctuation, and accuracy.
Personal training business plan template
At Reckon and we live to help small businesses start trading and manage their ongoing operations. Through Better Clinics, we’ve tailored this approach for fitness and allied health businesses.
To help you on your way, we’ve created a business plan template perfect for your personal trainer business.
How much does it cost to start a personal trainer business?
As with many broad questions, ‘how much does it cost to start a personal trainer business?’, is a bit like asking ‘how long’s a piece of string?’.
- It can be done with a minimal shoestring budget with the least equipment possible, free spaces and the tightest of marketing and operating budgets.
- You could also go all-out and rent an upscale space, get the best equipment on the market, and spend top dollar on websites, advertising, and marketing.
Having said this, we can find a good estimate by looking at the must-have needs of a personal trainer and noting the range of personal trainer costs associated with each.
Research and record the best prices you can find for the following and then add them all up:
- space to operate
- personal training equipment tailored to your services
- software and solutions (such as accounting and booking tools)
- marketing, advertising and associated assets (such as content, paid ads, photography, or design)
- insurance and accreditation
- business advisory services
If you nail your business plan, fully understand your personal trainer costs and map these out in a formal document, you have the solid footing necessary to launch and operate a thriving business built for long term success.