ProfitableVenture.com

Helping You Start a Business With Less Risk!

A Sample Fitness Center Business Plan Template

Are you about starting a fitness center for children or corporate wellness? If YES, here is a complete sample fitness center business plan template & feasibility study you can use for FREE.

Okay, so we have considered all the requirements for starting a fitness center. We also took it further by analyzing and drafting a sample fitness center marketing plan template backed up by actionable guerrilla marketing ideas for fitness centers. So let’s proceed to the business planning section.

Why Start a Fitness Center?

It is no longer news that health is wealth, and this is one of the reasons why there are a lot of folks who will leave no stone unturned when it comes to looking and feeling really fit. Loads of people enroll in gyms to lose weight, keep fit and catch fun, hence there are always people in your community that will patronize your gym house if it has the type of facility and equipment that will help them achieve their aim of enrolling in a gym.

Starting a fitness center business might be a very good thing to engage in, because you indeed are sure of a good return on investment. Some of the things that you may want to consider when you are looking to start a fitness center apart from carrying out a feasibility research on the business is writing a business plan. One of the very good things about writing a business plan is that it gives you headway, in that you are able to work on a model for your business.

If you are looking to write a fitness center business plan and do not know how to go about it, you may want to consider this sample fitness center business plan below;

A Sample Fitness Center Business Plan Template

  • Fitness Center Business Overview

It is no longer news that loads of people are becoming aware why they need to enroll in a fitness center or at least to stay fit; they are now more aware of the immeasurable benefits they stand to gain when they enroll in a gym and fitness center. It is now obvious to the general public that they can stay healthy, improve their lifestyle and live longer if they exercise regularly- plus they can achieve this with less stress if the pick – up membership in any gym and fitness center that is close to them.

The Gym, Health and Fitness industry basically operates fitness and recreational sports facilities that gives members the platform to exercise and engage in other active physical fitness conditioning or recreational sports activities, such as cycling, swimming, and skating or racquet sports. On the average, fitness centers are also involved in facilities management and fitness instruction.

Statistics has it that there is a steady increase in the number of people that enroll in a fitness center, and the fact that fitness centers and gym facilities are closer to residential areas makes this possible. Some people enroll in fitness centers not because they don’t have the money to purchase some of the basic fitness and gym equipment, but because exercising regularly requires discipline and that is part of what they stand to get when they enrolled in a fitness center or join a fitness club in their neighborhood.

No doubt, loads of factors are responsible for the springing up of fitness centers and gyms in various locations in the United States of America; chief amongst them is the rise in the numbers of obese people. Being obese is a risk to one’s health, which is why obese people who truly want to stay health and fit enroll in a fitness center that is close to them. Different people visit gym and fitness centers for various reasons. Some people register in fitness centers basically to shed some weight through proper exercising, while some people go to the fitness centers to train and increase their biceps (muscles) i.e. body building and other enroll in fitness centers and gyms for cardio sessions et al.

Researchers, engineers, health and fitness experts are always improvising and inventing fitness equipment that can help people and fitness centers and gym owners achieve their aims. Although fitness cum gym equipment can be expensive, but the truth is that most of the equipment last longer if they are well utilized. Aside from the fact that they last longer, acquiring any fitness / gym equipment is an investment that is worth the while.

The Gym, Health and Fitness industry is indeed a very large industry and pretty much thriving in all parts of the world especially in developed countries such as United States of America, Canada, United Kingdom, Germany, Australia and Italy et al. Statistics has it that in the United States of America alone, there are about 83,689 licensed and registered Gym, Health and Fitness Centers including those who are into franchising responsible for employing about 713,171 employees and the industry rakes in a whooping sum of $27bn annually with an annual growth rate projected at 0.1 percent.

Starting a fitness center in the United States of America can be somewhat stressful, it requires ample of cash to equip the fitness center / gym facility to meet the standard expected by fitness centers users. As a matter of fact, building a swimming pool around the gym and fitness center facility is one of the factors that will attract clients to enroll in your gym and fitness center.

Going forward, it is fact that the Gym, Health and Fitness industry is not going to go out of fashion anytime soon, but rather the numbers of people that enroll in gyms and fitness centers will continue to be on the increase and that of course will translate to more monies for gym and fitness centers owners.

Fitness Center Business Plan – Executive Summary

Asheville Community Gym and Fitness Center is an all – round gym, health and fitness business that will be located in a growing community in Asheville – North Carolina. Our basic aim of setting up the business is to contribute our quota in ensuring that people who live in Asheville stay fit by exercising regularly and maintain healthy lifestyle. We have been able to secure a standard in a central and easy to locate location in Asheville. The facility for our gym and fitness center has a standard Olympic size swimming pool and a standard indoor basketball court. We are well equipped to services the whole of the community as well as visitors and travelers.

Asheville Community Gym and Fitness Center is going to become the number one family-focused gym and fitness in the whole of Asheville – North Carolina and we will work hard to build our facility to match the needs of the average family in the community. Our gym and fitness center facility has enough parking space to accommodate more than the numbers of customers we will accommodate per time.

Asheville Community Gym and Fitness Center will be equipped with the latest technology in the Gym, Health and Fitness industry, we will install large TV screens close to cardiovascular equipment and treadmills so as to help our clients / members stay entertained while they engage in their fitness exercise. We will work towards ensuring that we provide our clients /members with a daily program of exercise and diet that perfectly suit their lifestyle and also to help them achieve their desired results and to help them create lasting healthy habits that will last them for life.

We conducted a thorough research and feasibility studies and we were able to come to the conclusion that Asheville community is the right place to start our fitness center. As a matter of fact, our major aim of starting Asheville Community Gym and Fitness Center is to encourage families in the community to cultivate the habit of regularly exercising and to stay healthy. Our gym facility and fitness center is specifically designed and built to take care of adults and children, we have active childcare services for toddlers and we have membership packages that are highly discounted for families that enrolled in our fitness center.

From our research and feasibility studies, we realized that chief amongst the reasons why some parents would not want to enroll in a gym and fitness center is the point that they may not have who to take care of their children whilst they are away at the fitness club. Part of our business strategies of encourage families to enroll in our fitness club is to create a make – shift crèche for them. We will ensure that whenever they come in with their children, their children will be well treated and entertained so much so that they will be the ones reminding their parents to go to gym.

Asheville Community Gym and Fitness Center will be opened 24 hours in a day during weekends (Fridays to Sundays) and from 6:00 am to 12 midnight from Mondays to Thursdays in order for us to be able to accommodate people with different time preference. This is why we have made provisions to recruit enough staff and to run shift amongst our workforce. We will go out of our way to acquire standard cardiovascular and weight training equipment for our gym and fitness center.

We are set to run a gym and fitness center that will help members who want to lose weight achieve their goals without little stress. We have a weight management consultant who will work with individual based on customized fitness and nutrition needs.

Asheville Community Gym and Fitness Center is a family owned business with support from the State of North Carolina. The business will be managed by Kelly Macintosh, he has well over 15 years of experience as a leading health and fitness coach in the United States of America working with top athletes who have gone ahead to win Olympic medals for the United States of America.

  • Our Services and Amenities

Asheville Community Gym and Fitness Center is in business to provide all round health and fitness services to the residence of Asheville – North Carolina which is why we have been able to put up a facility that can help us achieve the goal. We are optimistic that everyone who enrolled in our gym and fitness center will definitely derive huge value for their money.

These are the services and amenities that will be made available to our clients;

  • Athletic instruction (excluding personal training services)
  • Spa services
  • Merchandise sales / Sports shop (sale of sportswear, towel, shampoos et al)
  • Meals and beverages (Juice Bar)
  • Operating aerobic dance and exercise centers
  • Operating athletic club facilities for physical fitness
  • Operating body building studios for physical fitness
  • Operating fitness centers, health clubs and gyms
  • Operating recreational sports club facilities
  • Operating ice or roller skating rinks
  • Operating spas
  • Operating squash, racquetball or tennis clubs
  • Operating swimming pools
  • Group Fitness Classes
  • Yoga Classes
  • Pilates (full body walkout)
  • Spinning Classes
  • Weight Management
  • Kinesis Station
  • Nutrition Counseling
  • Childcare / Daycare
  • Full Locker Room Services
  • Internet Café
  • Comprehensive fitness assessment
  • Full gym membership

Our Vision Statement

Our Vision of starting Asheville Community Gym and Fitness Center is to build a world – class gym and fitness center and also to contribute our quota in encourage families and residence in Asheville to stay healthy and fit by engaging in regularly exercising of their body.

  • Our Mission Statement

Our mission for establishing Asheville Community Gym and Fitness Center is to create a movement in the community that supports total health and fitness and to fight against obesity and unhealthy lifestyle.

  • Our Business Structure

Asheville Community Gym and Fitness Center is in business to become the leading community based gym and fitness center in the whole of Asheville – North Carolina and we are fully aware that it will take the right facility, management and organization – structure to achieve our goal.

We will ensure that we recruit only the best hands that can help us achieve all that we are set to achieve.

Our business will not be built only for the purpose of giving our members / customers value for their money, but also we will ensure that we make our work environment highly conducive for all our employees. We will provide them with facilities that will help them stay motivated and deliver on their various tasks and goals et al.

In view of that, we have made provisions for the following positions to be occupied by highly qualified and experienced staff;

  • Gym Manager (Owner)
  • Accountant / Cashier
  • Marketing and Sales Officer
  • Exercise Physiologists
  • Fitness Instructor (5)
  • Training Assistants (10)
  • Juice bar Manager
  • Childcare Assistant

Roles and Responsibilities

Manager (Owner):

  • Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
  • Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for fixing prices and signing business deals
  • Responsible for providing direction for the business
  • Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization
  • Carries out staff induction for new team members

Fitness Instructors (5)

  • Creates training rosters for members
  • Assists members during exercise session
  • Guides members on how to make use of gym and fitness equipment

Marketing and Sales Officer (2)

  • Identify, prioritize, and reach out to new clients, and business opportunities et al
  • Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of projects.
  • Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
  • Responsible for handling business research, market surveys and feasibility studies for clients
  • Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
  • Develops, executes and evaluates new plans for expanding increase sales
  • Documents all customer contact and information
  • Represents Asheville Community Gym and Fitness Center in strategic meetings
  • Helps to increase sales and growth for Asheville Community Gym and Fitness Center.

Juice bar Manager:

  • Interacts with customers, take orders for drinks
  • Plans and presents bar menu.
  • Mixes ingredients to prepare cocktails and other drinks.
  • Mixes drinks, cocktails and other bar beverages as ordered and in compliance with gym’s standard drink recipes.
  • Services fruit juice to guests.
  • Assesses customers’ needs and preferences and make recommendations
  • Makes lists of supplies in conjunction with the management
  • Prepares inventory or purchase requisitions as needed to replenish supplies.
  • Ensures that the assigned juice bar area is fully equipped with tools and products needed for mixing beverages and serving guests.

Accountant / Cashier:

  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
  • Responsible for financial forecasting and risks analysis.
  • Performs cash management, general ledger accounting, and financial reporting for the organization
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensures compliance with taxation legislation
  • Handles all financial transactions for Asheville Community Gym and Fitness Center
  • Serves as internal auditor for Asheville Community Gym and Fitness Center.

Exercise Physiologist

  • Responsible for evaluating, researching, and provide advice on coaching.
  • Responsible for training
  • Engage in recovery practices in all areas of exercise and rehabilitation
  • Provides timely information and support on injury prevention, technique analysis, and nutrition.
  • Handles any other duty as assigned by the fitness center manager

Cleaners (3):

  • Responsible for cleaning in and around the gym facility
  • Cleans up after customers and clean work area.
  • Clears ashtrays as and when required.
  • Wash glassware and utensils after each use.
  • Maintains a clean working area by sweeping, vacuuming, dusting, cleaning of glass doors and windows, etc. if required.
  • Ensures that toiletries and supplies don’t run out of stock
  • Handles any other duty as assigned by the fitness center manager.

Fitness Center Business Plan – SWOT Analysis

Asheville Community Gym and Fitness Center is in business to help its clients achieve their health and fitness goals and at the same time to make profits. We are aware that there is competition in the gym, health and fitness industry which is why we took out time to conduct an effective SWOT Analysis before investing our hard earned money into the business.

We know that if we get things right before starting our gym and fitness center, we will not have to struggle before attract loyal clients and building our membership base to a level where we can easily breakeven in record time.

We hired the services of Dr. Garry Larson, an HR and Business consultant with bias in business structuring to help us conduct SWOT analysis for our company and he did a pretty good job for us.

Here is a preview of the result we got from the SWOT analysis that was conducted on behalf of Asheville Community Gym and Fitness Center, Asheville – North Carolina;

  • Strength:

One of the obvious strength that will definitely stand as a plus for Asheville Community Gym and Fitness Center is the fact that our facility is centrally located in a densely populated – residential area in Asheville – North Carolina; our location is in fact one of our major strength couple with the support from the State of North Carolina.

We equally have a team of highly qualified professionals who will work with all our clients to achieve their aims or enrolling in our gym and fitness center and lastly our membership package is one of the best that anybody living in Asheville – North Carolina can get; it is cheap and affordable.

  • Weakness:

We critically looked into our business model and we were able to identify two major weakness. One is the fact that we are a new business and the second is the fact that we may not have the financial resources required to match up with existing gym and fitness centers in North Carolina when it comes to acquiring latest gym and fitness equipment and generating the needed hypes that can drive traffic towards our facility.

  • Opportunities:

We are centrally located in one of the busiest area in and we are open to all the available opportunities that the city has to offer. We will be open 24 hours in a day during weekends (Fridays to Sundays) and from 6:00 am to 12 midnight from Mondays to Thursdays giving us the advantage to leverage on any available opportunity.

  • Threat:

Some of the threats that are likely going to confront Asheville Community Gym and Fitness Center are unfavorable government policies, demographic / social factors, downturn in the economy which is likely going to affect consumers spending and lastly, the emergence of new competitors within the same location where our gym and fitness center is located.

Fitness Center Business Plan – MARKET ANALYSIS

  • Market Trends

The Gym, Health and Fitness Clubs industry has indeed benefited from recent marketing campaigns which is targeted towards fighting obesity which is becoming rampant, as well as consumer trends toward healthy living. Going forward, many people who are part of the baby boomers generation are expected to sign up for health and fitness club memberships, as they become more health- conscious as they grow older.

However, patrons of gyms and fitness centers are anticipated to increasingly pick up membership from less expensive gym and fitness centers as against expensive all-inclusive clubs. The trend in the gym and fitness industry is such that if a gym is well position in a residential area or a place where people can easily access without much stress, there is the likelihood that the gym will enjoy high patronage.

Just like in other business ventures, the owner of gyms and fitness clubs are always looking for ways to increase their market share; they go as far as signing deals with high schools and also offer home services.

What they do is that they offer pro bono services for a period of time, and then they will introduce fee gradually and before too long they would have successfully converted some of the people that benefited from their pro bono services to loyal members.

It is common trend that as gyms grow, it becomes necessary for them to develop new service offerings or install new facilities that will help them attract more people. Little wonder some gyms now have juice bar within their facility to encourage people towards healthy drinking. In order words, it is very important for gyms to continue to improvise if they want to grow their business and generate their target revenues.

  • Our Target Market

The target market for gym and fitness centers cuts across people of different walks of life. The fact that people register in gyms and fitness centers for various reasons makes marketing the business interesting. The target market for gym and fitness centers can be categorized into three various groups.

The first group are the people who are looking towards shedding weights and stay health and fit through proper exercising and under the guidance of a qualified fitness instructor. The other group of people are those who are interested in building their biceps (body building) and the last group of people are those who just want to enroll for cardio sessions under the watchful eyes of a qualified fitness instructors. These sessions are a combination of light weights, treadmills and bikes.

Asheville Community Gym and Fitness Center will work towards providing services, facilities and environment that will help us reach out to our target market. These are the category of people that we intend marketing our gym and fitness center to;

  • Working Class Adults / Corporate Executives
  • Sport Clubs (Cheerleaders and choreographers et al)
  • Kids
  • About Wed Couples
  • Business People / Entrepreneurs
  • Government Officials
  • Celebrities
  • Public Figures
  • Applicants / School Leavers
  • Sports Men and Women
  • College Students

Our Competitive Advantage

No doubt, the Gym, Health and Fitness industry is indeed a prolific and highly competitive industry. Clients will only enroll in your gym and fitness center if they know that you can successfully help them achieve their health and fitness goals. It is the practice for gym and fitness instructors, coaches and trainers to acquire as much certifications as it relates to their area of specialization; it is part of what will make them stay competitive in the industry

Asheville Community Gym and Fitness Center is centrally located in a densely populated – residential area in Asheville – North Carolina; this is obviously going to give us an edge amongst our competitive. We equally have a team of highly qualified professionals who will work with all our clients to achieve their aims or enrolling in our gym and fitness center and lastly our membership package is one of the best that anybody living in North Carolina can get; it is cheap and affordable.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups gym and fitness centers in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

Fitness Center Business Plan – SALES AND MARKETING STRATEGY

  • Marketing Strategy and Sales Strategy

Our marketing strategies will be directed towards achieving specific objectives that support the strategic goals of the organization. The truth is that all that we do will be geared towards creating new market channels, increasing sales and increase our market share. We will leverage on improving on our services and facility to ensure that we win new clients and retain old members.

At Asheville Community Gym and Fitness Center, our marketing strategies will be consistent throughout the marketing mix and we will take into consideration product improvement, promotion, and price.

As part of our sales and marketing strategies, we will pay attention to the promotion of our fitness center so as to attract people to enroll and become members of our gym and fitness center. Our unique selling proposition is that we are well positioned and people can easily access our facility, our prices are affordable and we have a complete package for families.

Part of the marketing and sales strategies that we will adopt is;

  • Open our gym and fitness club with a big party in the n.
  • Advertise our gym and fitness club on national dailies, local TV stations and local radio station
  • Promote our gym and fitness club online via our official website and all available social media platforms
  • Introduce our gym and fitness center by sending introductory letters alongside our brochure to corporate organizations, households and key stake holders in Asheville – North Carolina
  • Print out fliers and business cards and strategically drop them in offices, libraries, public facilities and train stations et al.
  • Delivering consistent customer experiences to all our members; making our first impression count positively to those making use of our gym facility for the first time
  • Make use of attractive hand bills to create awareness and also to give direction to our gym and fitness club
  • Adopt direct mailing coupon marketing approach
  • Position our signage / flexi banners at strategic places
  • Create a loyalty plan that will enable us reward our consistent members especially those that registered as a family
  • Engage on road shows within our neighborhood to create awareness for our gym and fitness center.

Sources of Income

Asheville Community Gym and Fitness Center is established with the aim of maximizing profits in the Gym, Health and Fitness industry and we are going to go all the way to ensure that we do all it takes to attract both individual clients and corporate clients on a regular basis.

Asheville Community Gym and Fitness Center will generate income by offering the following services;

  • Athletic instruction (excluding personal training services)
  • Spa services
  • Merchandise sales / Sports shop (sale of sportswear, towel, shampoos et al)
  • Meals and beverages (Juice Bar)
  • Operating aerobic dance and exercise centers
  • Operating athletic club facilities for physical fitness
  • Operating body building studios for physical fitness
  • Operating fitness centers, health clubs and gyms
  • Operating recreational sports club facilities
  • Operating ice or roller skating rinks
  • Operating spas
  • Operating squash, racquetball or tennis clubs
  • Operating swimming pools
  • Group Fitness Classes
  • Yoga Classes
  • Pilates (full body walkout)
  • Spinning Classes
  • Weight Management
  • Kinesis Station
  • Nutrition Counseling
  • Childcare / Daycare
  • Full Locker Room Services
  • Internet Café
  • Comprehensive fitness assessment
  • Full gym membership

Sales Forecast

It is important to state that our sales forecast is based on the data gathered during our feasibility studies and also some of the assumptions readily available on the field.

It would be hard to create a sales forecast with a newly opened business like gym and fitness center. This is simply because the statistics that will be provided will be on a short term basis. Experts said that usually a business should be in operation for at least one year before they can generate the statistics that will be need to help in accurate forecasting; statistics should be at least one year old in order to show the trends and pattern in consumer spending.

We expect to register a minimum of 500 active members within our first year of operations and then in subsequent year we will grow our membership. Below are the sales projection for Asheville Community Gym and Fitness Center, it is based on the location of our facility and the services and products that we will be offering to our clients (members);

  • First Year-: $200,000
  • Second Year-: $450,000
  • Third Year-: $700,000

N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major competitor offering same additional services as we do within 4.5 miles radius from our gym and fitness facility.

  • Our Pricing Strategy

Our pricing system is going to be based on what is obtainable in the industry, we don’t intend to charge more (except for premium and customized services) and we don’t intend to charge less than what our competitors are charging their members in Asheville – North Carolina.

Be that as it may, we have put plans in place to offer discount services once in a while and also to reward our loyal customers especially when they refer clients to us or when they register as a family. The prices of our services will be same as what is obtainable in the United States’ open market.

  • Payment Options

At Asheville Community Gym and Fitness Center, our payment policy will be all inclusive because we are quite aware that different clients would prefer different payment options as it suits them. Here are the payment options that we will make available to our clients;

  • Payment by via bank transfer
  • Payment via online bank transfer
  • Payment via check
  • Payment via bank draft
  • Payment via mobile money
  • Payment with cash

In view of the above, we have chosen banking platforms that will help us achieve our plans with little or no itches.

Fitness Center Business Plan – Publicity and Advertising Strategy

We have been able to work with our branding and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to become the number one choice for both corporate clients and individual clients in the whole of Asheville – North Carolina which is why we have made provisions for effective publicity and advertisement of our gym and fitness center.

Below are the platforms we intend to leverage on to promote and advertise Asheville Community Gym and Fitness Center;

  • Place adverts on both print (community based newspapers and magazines) and electronic media platforms
  • Sponsor relevant community based events / programs
  • Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our brand
  • Install our Bill Boards on strategic locations all around Asheville – North Carolina.
  • Engage in road show from time to time in targeted neighborhoods
  • Distribute our fliers and handbills in target areas
  • Contact corporate organizations and schools by calling them up and informing them of Asheville Community Gym and Fitness Center and the services we offer
  • List Asheville Community Gym and Fitness Center on local directories / yellow pages
  • Advertise our gym and fitness center in our official website and employ strategies that will help us pull traffic to the site.
  • Ensure that all our staff members wear our branded shirts and all our vehicles are well branded with our corporate logo et al.

Fitness Center Business Plan – Start – Up Expenditure (Budget)

These are the types of exercise equipment that we will make available in our gym and fitness center;

  • Resistance bands
  • Weight machines
  • Flexion machines
  • Pull-up bars
  • Wall bars
  • Weight training
  • Elliptical trainer
  • StreetStrider (elliptical cross trainer on wheels)
  • Exercise machine
  • Dumbbell
  • Kettlebell
  • Exercise
  • Fitness (biology)
  • Treadmills
  • Hojoundō
  • Pull-up bar
  • Medicine balls
  • Boxing Gear
  • Gym flooring
  • Barbells
  • Cable Attachments
  • Weight plates
  • Benches
  • Wearable items as proper footgear, gloves, and hydration packs.
  • Filing Cabinets
  • Noticeboard
  • Staff Uniform

This is the key areas where we will spend our start – up capital on;

  • The Total Fee for Registering the Business in North Carolina – $750.
  • Legal expenses for obtaining licenses and permits – $1,500.
  • Marketing promotion expenses (8,000 flyers at $0.04 per copy) for the total amount of $10,000.
  • Cost for hiring Consultant – $5,000.
  • Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $30,800.
  • Cost of accounting software, CRM software and Payroll Software – $3,000
  • Cost for leasing facility for the gym – $180,000.
  • Cost for facility remodeling – $50,000.
  • Other start-up expenses including stationery – $1000
  • Phone and utility deposits – $3,500
  • Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $40,000
  • The cost for Start-up inventory – $15,000
  • Storage hardware (bins, utensil rack, shelves, glasses et al) – $1,720
  • The cost for counter area equipment (counter top, sink, ice machine, etc.) – $7,500
  • Cost for acquiring gym equipment – $200,000
  • The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, snooker board, clippers, tables and chairs et al) – $4,000.
  • The cost of Launching a Website – $600
  • The cost for our grand opening party – $1,500
  • Miscellaneous – $5,000

We would need an estimate of $1.5 million to successfully launch a standard and well – equipped gym and fitness center in Asheville – North Carolina.

It is important to state that the testing and evaluating expenses would be high because of the large amount of equipment needed to start up a gym and fitness center and also the sophistication of the technology used in gyms and fitness centers.

Generating Funding / Startup Capital for Asheville Community Gym and Fitness Center

Asheville Community Gym and Fitness Center is a business that will be owned by Kelly Macintosh and family. They are the sole financial of the business which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.

These are the areas we intend generating our start – up capital;

  • Generate part of the start – up capital from personal savings and sale of his stocks
  • Generate part of the start – up capital from friends and other extended family members
  • Generate a larger chunk of the startup capital from the bank (loan facility).

N.B: We have been able to generate about $500,000 (Personal savings $350,000 and soft loan from family members $150,000) and we are at the final stages of obtaining a loan facility of $1 M from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

Fitness Center Business Plan – Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Asheville Community Gym and Fitness Center is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to pick up membership in our gym and fitness center is to equip our facility with state of the art gym and fitness equipment.

Asheville Community Gym and Fitness Center will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare is well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

  • Business Name Availability Check: Completed
  • Business Registration: Completed
  • Opening of Corporate Bank Accounts: Completed
  • Securing Point of Sales (POS) Machines: Completed
  • Opening Mobile Money Accounts: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of Insurance for the Business: Completed
  • Acquiring facility and remodeling the facility: In Progress
  • Conducting Feasibility Studies: Completed
  • Generating capital from family members: Completed
  • Applications for Loan from the bank: In Progress
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents and other relevant Legal Documents: In Progress
  • Design of The Company’s Logo: Completed
  • Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
  • Recruitment of employees: In Progress
  • Purchase of the Needed gym and fitness equipment, electronic appliances, office appliances and suppliers: In progress
  • Creating Official Website for the Company: Completed
  • Creating Awareness for the business both online and in the neighborhood: In Progress
  • Health and Safety and Fire Safety Arrangement (License): Secured
  • Opening party / launching party planning: In Progress
ProfitableVenture.com © 2015 - 2016 | All Rights Reserved | See About us | Privacy Policy and Disclaimer.