If you’re a fitness enthusiast, you know the value of having a detailed workout plan. When you hit the gym without a battle strategy, odds are you’ll wind up sorer, less toned, and more confused than if you’d had a routine in mind.
By the same token, if you want to start your own fitness business, you’ll need a solid business plan. A business plan is a written document defining what your business offers and who your target customers are in a specific market. It covers how you plan to bring your business to life through financing, operations, and marketing efforts.
The fitness industry continues to grow, with one 2024 survey reporting a record 55,000 fitness facilities in the United States. Whether you’re opening your own yoga studio or starting a personal training business, crafting a compelling business plan is an essential step in bringing your gym business idea to life.
Why make a gym business plan?
A gym business plan provides entrepreneurs with a clear blueprint for their fitness facilities. By detailing important information about your business, like its legal structure and unique selling proposition (USP), a business plan can help clarify the vision for your company.
A business plan also lays out the specific steps you’ll take to bring your idea to life. Whether you’re defining a new gym business concept or developing a business growth strategy for an existing gym, business plans help entrepreneurs understand the challenges and opportunities their companies are facing.
Additionally, a solid gym business plan is an essential document for raising money for your business. You’ll need to present a business plan when meeting with potential investors or applying for a small business loan for your gym from a bank or the Small Business Administration (SBA). This will provide them with an understanding of your market opportunities and financial projections to help them decide whether or not you meet their criteria.
What to include in a gym business plan
- Executive summary
- Company overview
- Products or services
- Market analysis
- Marketing plan
- Logistics and operations plan
- Financial plan
If you’re a fitness expert with an entrepreneurial mindset, writing a thoughtful business plan is one of the most important steps on your journey to opening your own gym or fitness center. Here’s a breakdown of the key elements of a gym business plan:
Executive summary
An executive summary is a one-page overview of your gym business, giving readers a basic understanding of your concept and overall vision. Since this opening section is a distillation of the most important elements of your business plan, it’s best to write it last. Keep your executive summary concise and explain your value proposition clearly and early on.
One way to structure your executive summary is to start with a problem and offer your business as a solution. For example, if you’re launching an indoor cycling gym in a cold area like Wyoming, you could start your executive summary like so: “In Laramie, Wyoming, young professionals and college students need more indoor fitness facilities during the cold fall, winter, and spring months. We propose to help solve this problem by launching a new community-focused, indoor cycling gym.”
Company overview
In the next section, you provide a longer description of what your company is and the people behind the business. This is where you add your mission statement to highlight your business goals and core values. In your company overview, describe your gym’s business model and some key elements about your company, including:
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Business structure. Describe your gym’s legal structure, like a sole proprietorship or a limited liability company (LLC).
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Background information. Add details about your company history and the backgrounds of key employees.
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Target audience. Define who your business is for, and how your gym caters to the needs of your target market.
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Unique selling proposition. Your unique selling proposition is a statement that focuses on how your business will stand out in the market by offering something beyond the competitors in your area. Though you may have mentioned your USP in the summary, you can go into a little more detail here.
Products or services
In this section, define what specific products or services your gym offers to your target audience. Include a complete list of your gym equipment—treadmills, free weights, a bouldering wall, services like fitness classes and personalized training plans, and your membership plans or subscription models.
Market analysis
This section requires intensive market research about both the fitness industry at large as well as the competition in your local area. For example, you could include a market analysis of the value of indoor cycling gyms as a whole and follow up by researching and describing local gyms in your area.
Emphasize where your business has a competitive advantage, whether that’s offering services no one else in your area is or providing a higher-quality service than your competitors (like fitness classes with highly experienced trainers or specialized equipment).
Marketing plan
Describe the marketing strategies you plan to implement or have already used to build a following online or in person. Your marketing plan should define your target audience and the best marketing to appeal to them. Include both inbound marketing strategies like content marketing and outbound marketing tactics like paid ads to attract new clients to your gym business.
For example, a powerlifting gym could use this section to provide relevant information about the powerlifting community in the area and describe marketing efforts like in-person powerlifting competitions and social media influencer programs to connect with these potential clients.
Logistics and operations plan
This section describes what goes into your gym’s business operations, from the people you hire (like your management team, trainers, or front desk associates) to the processes you plan to implement for offering fitness services or classes. Outline the details of your gym location and the technology systems you plan to use to run your business in that location (like customer relationship management systems or appointment booking apps).
In this section, you’ll also include any necessary business licenses or permits you need to get, as well as insurance requirements.
Financial plan
A core part of your business plan is your financial plan. This section should include a detailed budget of necessary startup costs—from rent and fitness equipment to marketing costs. Whether you’re writing your business plan for an angel investor you know or a bank that you’re meeting with, you’ll need to include detailed financial projections.
Base your projections on market size, competitor analysis, and any previous financial statements (including cash flow statements and income statements). List out your projected costs and potential profits based on membership fees, personal training, and group class fees.
Gym business plan tips
When writing your gym business plan, here are a few considerations to keep in mind:
Define your location in relation to potential customers
Describe your gym’s location and how that location is beneficial for attracting new clients. For example, a rock climbing gym may be near office buildings, targeting professionals who come in after work, while a senior fitness center would benefit from a location near a retirement community. Considerations such as foot traffic, parking, and proximity to other gyms are all factors to include.
Build an online presence
Include information about your gym’s current or proposed online presence in your business plan, specifically the marketing plan section. Use a reliable platform like Shopify, which makes it easy for fitness entrepreneurs and gym owners to set up an engaging website where they can manage bookings and attract potential customers online.
Include any relevant information about social media channels or blogs related to your gym business. For example, if you’re a fitness instructor, you could write a blog about your fitness journey or launch a TikTok account featuring testimonials from clients who’ve worked with you before.
Consider add-ons
As you develop your financial plan, consider additional sources of income that your gym could generate. For example, you may decide to sell exercise gear such as weights, resistance bands, and yoga balls and mats, supplements like protein powders, or clothing and accessories like water bottles, activewear, and gym bags. Add your logo, name, or a unique design to your merch; that way, your customers are getting something distinctive they can’t find elsewhere, and the branded merch boosts brand awareness and helps build a community around your business.
You can sell your products in person or through an online store; Shopify makes it easy to build a website where you can sell your products and services, as well as handle memberships and class schedules.
Gym business plan FAQ
How much does it cost to start a gym business?
The cost of setting up your gym business depends on several factors. Create a business plan that takes into account expenses such as rent, equipment, staff salaries, insurance and certifications, and other overhead costs.
How do I write a business plan for a gym?
To write a business plan for a gym, define your company goals, detail what services your gym will offer, perform a market analysis for your area, and develop strategies for operating, marketing, and financing your business.
How to start a gym business for beginners?
To start the process of creating your own gym business, perform market research on local businesses offering similar fitness services in your area and identify a niche in the market where you can offer a unique value to potential clients.
