Gym business plan helps the entrepreneur to understand, to visualize, to plan and to identify risks even before making any investments in the business. Preparing a business plan involves detailed research so that all the aspects of the given business is evaluated and appropriate decisions are made. Nowadays people are more aware of the immeasurable benefits towards the gym, at least the working people, as the meaning of being fit leads to high energy level, less working time, and the ability to produce better results. Some people enrol in gym because exercising regularly requires discipline and to get a instructor at their hand.
The equipment’s for gym are really expensive and it is an investment that is worth the while, but the true it most of the equipment last longer if they are well utilized. Other expenses will be on rent, telephone and internet, office accessories, marketing and advertising, utilities, insurance and salary. The target market is middle to upper class, 25 to 55 aged people who are focused on eating healthy foods and primarily concerned about health and fitness, while to 25 – 55 aged people includes corporate executives, business people, sportsmen and sportswomen, schools and young couple. While choosing location of the centre, it should be at least 10 kilometres with tin the target group.
Come up with a marketing strategy to keep achieving the goals of the company and to stay competitive in the market by continuously improving the performance of brands by hiring experts. Make use of the attractive handbills to create awareness and also to give direction to gym. Come up with a pricing strategy to sustain in the market and one need not charge more or less than other competitors, but instead you could offer discount service, reward your loyal customers. Gym business consists of 28% organised sector, which is growing at 22-27% CAGR and 72% of the business come under unorganized sector which is the major contributor of the market. The industry is worth Rs. 4,500 crore and excepted to cross Rs. 7,000 crore by 2017.
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All organizations are made up of group of capabilities that are coming from People, Processes and Systems. These capabilities are working together in a seamless manner to deliver the requisite capabilities to the customer. The various capabilities that need to be addressed in a gym business plan are given below:
Owner or managing director, personnel trainers, sales representatives, office administrator and receptionist.
Membership management, time management, training management, developing instructional programs, recreational activities, monitoring and communicating customer progress, nutritional practises, operational management, finance and accounts management.
Weight machines, flexion machines, pull-up bars, wall bars, weight training, elliptical trainer, exercise machine, dumbbell, kettle bell, treadmills, medicine balls, boxing gear, barbells, weight plates, Benches, wearable items as proper footgear, gloves and hydration packs, employee uniform.
Most of the businesses have professional bodies across the globe and being associated with these organizations tremendously helps in understanding the current trends in business. Some of the professional bodies are listed below for your reference:
National Gym Association Coconut Creek, FL 33097-0579
Fitness AustraliaLevel 2, Suite 201, 90/96 Bourke Rd, Alexandria NSW 2015
Fitness Industry Association of JapanDai-san Sakurai Building 6F,2-2-3 Kaji-cho,Chiyoda-ku, Tokyo
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