Do you provide lots of classes and personal trainers, or is yours more of a workout room with only a handful of staff?Once you identify your relative market, research the current trends and future projections that will affect that segment of your industry.
Product includes every single item or service you sell.
Place refers to the physical location of your gym, as well as your web presence.
Put your indirect competitors into a single category, and discuss them as a whole.
Marketing Plan A good marketing plan is built on the four P’s: Product, Place, Price, and Promotion.
Customer retention is another important category that explains how you will get customers to return.
Operations Plan While the earlier sections of the business plan focused on defining your goals, the operations plan explains how you will meet them.
Are they high school, college, or professional athletes?
Business executives trying to stay healthy despite a busy schedule? Narrow down your customers’ demographics, assess how they make their buying decisions, and then identify their specific needs. Competitive Analysis Your indirect competition is every other gym in town, as well as nutritionists and other businesses that target your market with a different product or service.
Yet many new gym businesses fail because their owners try to be all things to all people.
A written business plan is crucial to growing and developing your gym in a controlled, sustainable manner.