GYM BUSINESS PLAN
A business plan is perhaps one of the most important first steps, especially in the fitness business. In case you haven’t noticed, this is a competitive environment and you need to understand every aspect of the business and the many variables that can arise. Owning a gym can be one of the best financial decisions you ever made, but without the right strategy in place, you could regret it. As a growing fitness franchise brand who has been in the industry for over 40 years, we know a little about this. Here are some tips in developing your fitness club business plan.
1. HOW ARE YOU DIFFERENT?
You need to understand why someone would want to be a member of your health club vs. the other clubs in the neighborhood. The reason we recommend for you to start here, is because if you cannot answer this question, then why would anyone else want to join your club? You should know your target audience and cater to them specifically. Being able to differentiate yourself from the competition requires marketing, branding, and great understanding about your potential customers. This is why many people prefer to purchase one of our franchises. We have the blueprint laid out already.
2. HOW MUCH IS THIS GOING TO COST?
This is an important topic that unfortunately is not as easy to answer as the first one. You may have an idea of what it will cost, but there are many variables you may not even be thinking about. Expenses such as build-out, equipment, marketing, hiring, training, and more can vary based on many different factors. WIthout any experience, this can cost you a lot more than what you would think. As an established franchise, we know exactly how much it will cost and even have ways to save you money that could help reduce your cost of build-out.
3. HOW MUCH PROFIT CAN I EXPECT THE FIRST YEAR?
Forecasted financials, also known as pro-forma financials, are very important so you know when you can expect a return on your investment. You should have different scenarios both optimistic and conservative. You want to hope for the best but be prepared for the worst. A good business plan will help you so there are no surprises that you did not contemplate beforehand.
4. HOW AM I ACTUALLY GOING TO GET PEOPLE IN MY GYM?
Once your gym is finally up and running, perhaps one of the most important question arises, how do I bring in members? Having an effective marketing strategy is something you need to think about in the beginning, not at the end. Many businesses fail to think about this and become so preoccupied with getting the business started. Often times they leave out a marketing budget and find themselves with a shiny new, empty gym. At Zoo Health club, we provide a lot of marketing support from website development to lead generation to digital marketing. This is one of the many reasons why you should consider our franchise opportunity.
For more information on the exact cost of a Zoo Gym franchise and other details, we ask that you fill out the form below and request a Free Franchise Toolkit for Success. This will tell you everything you need to know so you can make an educated decision on whether this opportunity is right for you.