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Fitness is big business, as baby boomers lead the charge to remain healthy for a lifetime.Gyms have come a long way, and new gym owners have a seemingly endless array of choices.It identifies your goals, notes potential challenges, and explains your strategies for reaching your goals.
Product includes every single item or service you sell.
Place refers to the physical location of your gym, as well as your web presence.
Your direct competition includes only those gyms that fulfill the same needs for the same market as yours.
Name each of your direct competitors and explain how your gym differs from theirs.
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.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.Management Team While it is important to have qualified trainers and fitness experts on board, investors and lenders also want to know that your gym can succeed as a business.Identify key members of your management team and highlight the parts of their background that demonstrate the ability to build a business.Explain its founding, legal structure, and current business stage.Describe important milestones that you have already met, such as hiring a respected fitness guru or securing a key partnership with an equipment vendor.Briefly describe your gym, provide a summary of your market analysis that identifies an unfulfilled need, and explain why your gym is uniquely qualified to meet that need.Company Analysis In the company analysis, outline your gym as it currently exists.Everyday short-term process are the day in and day out tasks of running your gym, from selling memberships to teaching classes to cleaning the equipment.Long-term processes focus on meeting your business goals, such as opening a second gym or adding new classes.