Learn How to Build Your Business
The Business of Fitness
If you are a certified personal trainer, registered yoga teacher, group exercise instructor, or otherwise qualified exercise professional — we want to support you! If you are a CrossFit coach, AntiGravity® aerial fitness, pole fitness, or TRX® Suspension Training™ instructor, offering professional fitness services, please register your business by clicking on the blue triangle in the top right corner of this page.
The business of fitness can be a rewarding experience for personal trainers, general managers or simply members of a fitness facility. Once bitten by the fitness bug, many people turn their passion and success in their personal journey in fitness into a genuine interest in developing a fitness business to help other people improve their fitness level and quality of life. The business of fitness thrives on two solid principles, one, the fact that the market demands fitness products and services, and, two, the ability of individuals to successfully serve in both service and management capabilities necessary for business development, growth, and management.
Maybe you are an investor with the hopes of taking advantage of the underserved markets with over 34% of America being obese and as much as 74% being obese or overweight. Members of health clubs or professionals in the fitness industry inevitably ask a singularly common question of themselves, How can I create a better business model? It works a little something like this. Typically, you’ve seen your facility in action and you’re convinced you can do it much better. Anything is possible and in the open marketplace, you can give it a go if you can satisfy some simple, yet demanding challenges. The business of fitness is more than serving a market with a product or service — you must be willing to go farther, do more for your customers, and prepare better than your competitors. If you can do this, you will succeed.
Regardless of your position and motivation, if you are prepared to move forward with the prospect of becoming an owner/operator of a personal training studio, fitness center or fitness facility, our best advice to you as an inspiring health club or studio owner is to spend the necessary time to conduct a data-driven feasibility study to prove your business concept feasible. This will also be a critical step if you are seeking investment from 3rd parties, whether capital is either personally invested or borrowed from friends and family, business investors, or financial institutions of some kind. This study should be data-driven which will provide you with critical answers to markets supporting your concept or in reverse, drive the club or studio type to support the available market. To provide potential investors with a believable study, it is advisable to have this done by a professional. Do not Google “How to write a business plan?” and expect a 1-page template to serve as your introduction into building a successful fitness business. The business of fitness requires significant due diligence and commitment to do what is right. In the business of fitness we have managers and leaders, we have managers who are leaders, and we have people who do not understand the difference. Which are you? A leader does the right thing. A manager does things, right? Can you be both?
Consider the following requirements of business prior to opening a business:
- Define your business – What will you do?
- Create a business plan – How will you do it?
- Choose your business structure – With whom will you do it?
- Register your business – What is your business?
- File licensing or permits – Is your business licensed?
- Review applicable law & codes – Is your business compliant with state & federal law, and city codes?
- Determine financing – Are you leveraging cash, loan types, or investors?
- Review tax requirements & liabilities – Under what tax implications will your business operate?
- Choose a location – Where will you conduct the principal actions of business?
- Buy or lease equipment & supplies – Will you own or lease equipment?
- Recruit, hire, and train employees – How will your employees represent your business and brand?
- Develop independent contractor agreements – How will independent contractors work with you?
- Employees or contractors – Do you know the difference between a contractor and an employee?
Let’s dive into qualifying your concept briefly by category of steps to consider outlined by title in the table of contents above to the right. This website, like any business project, is a working, living, breathing concept designed to help people ask important questions and share valuable answers and solutions. It, too, will grow. We will continue to update information daily. If you don’t yet see what you are looking for, or you have questions, comments, or you would like to add your thoughts or advice in an effort to help others, we want to hear from you.
Are you looking for help operating your fitness business?
If you need help learning how to develop a business plan, open, operate or update your personal training studio, group fitness facility, or fitness facility, we want to hear from you. After you contact us – don’t forget, we can support your facility, website, personal training, and group exercise programs. Yes, it’s free – always.
Please visit my LinkedIn page – let’s connect.