Starting your own company in the fitness industry is no easy task. Just like any tough training regimen, it takes effort and perseverance. But it’s an industry with a large market — one that remains in spite of the pandemic.
It turns out that even a global health crisis couldn’t stop people from getting fit. Though the lockdown has forced gyms and other fitness centers to close, trainers flocked to the virtual sphere to promote their services. They started hosting live workout videos on Instagram and posting fitness challenges on Facebook. Their clientele was highly receptive, which just goes to show how adaptable the fitness industry is. If this is something you’re interested in getting into, then read on for four steps you’ll need to accomplish.
1. Choose the Type of Fitness Business You Want to Operate
Your fitness niche will depend a lot on your resources and interests. The simplest way to start would be to operate as a personal trainer. It requires very little starting capital, but demands in-depth knowledge of fitness, nutrition, and wellness. Another option is to manage your own facility. While it requires more starting capital, opening a gym or fitness center can be a very rewarding endeavor. Not only are you providing opportunities to stay fit for the one in five Americans who go to gyms, but you’ll also have control over what kind of services, equipment, and activities your space will have. Additionally, you won’t have to work alone, as you can hire other fitness professionals to work with you and maintain the facility. Regardless of what business venture you decide on, make sure to consider your fitness expertise as well as the resources you have on hand.
2. Decide on Your Unique Selling Point
Your unique selling point (USP) is what sets your business apart from the competition. It’s that edge that makes potential clients choose you over the rest. One great example of a USP is in Zumba. It turns out the idea of a dance-based fitness routine was created by accident. Co-founder Alberto “Beto” Perez was teaching an aerobics class and forgot his usual cassette tape. All he had was a tape with music that he’d recorded from the radio, so he used that instead. His improvisations were a hit among his students, and that was how Zumba was born. At the time, there weren’t many fitness niches that had dance-based exercises, so that was what set Zumba apart from the rest — its USP.
3. Write Your Business Plan
Here’s where the research comes in. Your business plan must include an analysis of the market, your budget, and your marketing strategies. This should also be where you lay down the complete list of your products and services. Apart from exercise classes and a fitness club membership, what does your business have to offer? You can provide one-on-one consultations to decide the best training regimens for your clients. You could also arrange seminars that promote healthy eating. This will teach your clients that being healthy doesn’t mean eating bland, boring foods. This part of the process can prove tedious, but keep at it! Deciding on these matters early on will make you less likely to face difficult complications in the future.
4. Accomplish Legal Requirements
Now, it’s time to make it official. First, register your business with the state. The process differs depending on where you live and the type of business model you want to put up. You’ll also need different permits and licenses, which, again, vary from state to state. If you’re opening a fitness facility, you’re most likely going to need a certificate of occupancy, which allows you to use a space for your business. Once you’ve acquired all the necessary documents, you can start purchasing the equipment you’ll need.
When you’ve done all four steps, then congratulations! You’ve set up your fitness company. Now, all you need to do is promote your business and hook some clients. Be sure to stick to your business plan and utilize that USP!
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