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1
The Mobile Personal Training
Business Plan
Carolyn Briscoe
CEO, Owner
2
ntroduction and Overview
Many people have a tough time reaching their personal health and fitness goals for various
reasons, but the one that we hear the most is, “I just don’t have time to work out.” Between
busy personal and professional lives, working out can take the back seat and many people
have a hard time scheduling a workout into their day. Working with an in-home
personal trainer has many advantages, such as convenience, that will help keep
your workouts on track and get you on the road to reaching your health and fitness
goals. Here is FitnessBeyond’s take on the top four benefits of in-home personal
training:
Time Efficiency
One of the greatest benefits of in-home personal training, is time
efficiency. With an in-home personal trainer, you no longer have to
schedule in gym time, not to mention travel time to and from the gym.
This can save you a lot of time, especially in the morning before work,
which is primetime for many clients to get in their workouts. Having the
gym come to you allows you to spend your time more efficiently by
eliminating drive time and the hustle and bustle at the gym during major hours.
Convenience
Convenience ties into the first benefit of in home personal training, time efficiency. In home training
can be convenient for those not only looking to eliminate travel time and be more efficient with their
time, but also for those who have physical limitations and have a hard time traveling to a gym. In
home personal training is ideal for many people and can specifically benefit stay at home moms,
I
3
elderly people, people with physical limitations, and people with injuries who have a difficult time
getting to the gym.
Privacy
The environment at the gym can be intimidating for many people, especially for those who are new
to fitness, have physical limitations, or are uncomfortable in their own skin. One of the greatest
things about having a trainer come to your home is that it is just you and your trainer.
Undivided Attention
Working one-on-one with an in-home personal trainer, allows your trainer to give you undivided and
focused attention, free of distractions and interruptions, which are common in a gym environment.
Receiving your trainer’s sole attention means greater communication, which can lead to better cueing,
form, and overall direction.
ission Statement
 FitnessBeyond will help educate, motivate and support our clients with a positive
attitude in a relaxed atmosphere throughout the entire program.
 We will organize and plan a valuable fitness/eating program, and will provide
clear directions and realistic feedback.
 We will help our clients plan, obtain measurable, realistic goals, and optimize
their chance for a successful experience.
M
4
Table of Contents
I. Business……………………………………………………………………………5
 Business Background
 Services
 Target Customers
II. Industry…………………………………………………………………………….7
 Market Profile
 Competition
 Suppliers and Distributors
 Legal and Regulatory requirements
III. Operating Plan…………………………………………………………………..8
 Plant and Equipment
 Processes
 Management
 Promotion and Marketing
 Pricing
 Performance Measure
IV. Financial Plan……………………………………………………………………18
 Financing requirements
 Financial analyses
 Financial statements
V. Supporting Documentation…………………………………………………26
5
I. Business
Personal trainers aren't just for the rich and famous anymore. More and more regular folks are
turning to personal trainers to get in shape and keep fit and healthy. As a result demand for personal
trainers is booming like never before.
FitnessBeyond is based in Wilkes Barre, Pennsylvania and will operate a personal training
business that helps clients become healthier by increasing their fitness levels and modifying their
nutritional intake.
Services
 Initial consultation and screening
 Effective personalized fitness training and nutrition program design, planning and
implementation according to the individual’s or group’s needs and requirements
 Nutrition consultation
 Instruction, motivation and monitoring of exercise activities, aerobic exercising, stretching, and
muscle conditioning, building and toning
 Demonstrating various types of exercises and techniques
 Helping clients improve their exercising techniques and performance
 Performing health-risk analysis to identify areas of potential concern (such as diet, smoking
and alcohol)
 Advising clients on how to modify their lifestyle to improve their fitness
 Keeping records of the clients’ exercise sessions to monitor their progress towards physical
fitness to help them reach their goals
6
Positioning
FitnessBeyond will position itself as a most effective mobile personal training company and
track several performance metrics using appropriate training software in order to provide clients with
a monthly printout of their progress towards their goals. This blend of solid fitness and nutrition
advice with cutting-edge technology will differentiate FitnessBeyond from its competitors.
Business concept:
 Offer a friendly and helpful service
 Promote good health by making exercising enjoyable
 Help clients assess their level of physical fitness and set a plan to reach their fitness goals
 Offer nutritional recipes, online calorie counting and meal tracking to make eating healthy easy
as well as enjoyable
 Help clients change their activity levels and choose healthier lifestyles
 Help clients achieve their fitness goals by designing and implementing creative and effective
training programs through the internet
 Using cutting edge exercise techniques and the latest scientific research
 Achieve higher sales and customer satisfaction
Business goals:
 To launch the business by December 2014
 To achieve good profitability and business expansion
 Realize a 12 percent annual growth in revenues
 Fill at least 25 training time slots each week
 Establish affiliate alliances with other fitness web sites to generate referrals for online training
services
Ad

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MyPlan(FitnessBeyond)

  • 1. 1 The Mobile Personal Training Business Plan Carolyn Briscoe CEO, Owner
  • 2. 2 ntroduction and Overview Many people have a tough time reaching their personal health and fitness goals for various reasons, but the one that we hear the most is, “I just don’t have time to work out.” Between busy personal and professional lives, working out can take the back seat and many people have a hard time scheduling a workout into their day. Working with an in-home personal trainer has many advantages, such as convenience, that will help keep your workouts on track and get you on the road to reaching your health and fitness goals. Here is FitnessBeyond’s take on the top four benefits of in-home personal training: Time Efficiency One of the greatest benefits of in-home personal training, is time efficiency. With an in-home personal trainer, you no longer have to schedule in gym time, not to mention travel time to and from the gym. This can save you a lot of time, especially in the morning before work, which is primetime for many clients to get in their workouts. Having the gym come to you allows you to spend your time more efficiently by eliminating drive time and the hustle and bustle at the gym during major hours. Convenience Convenience ties into the first benefit of in home personal training, time efficiency. In home training can be convenient for those not only looking to eliminate travel time and be more efficient with their time, but also for those who have physical limitations and have a hard time traveling to a gym. In home personal training is ideal for many people and can specifically benefit stay at home moms, I
  • 3. 3 elderly people, people with physical limitations, and people with injuries who have a difficult time getting to the gym. Privacy The environment at the gym can be intimidating for many people, especially for those who are new to fitness, have physical limitations, or are uncomfortable in their own skin. One of the greatest things about having a trainer come to your home is that it is just you and your trainer. Undivided Attention Working one-on-one with an in-home personal trainer, allows your trainer to give you undivided and focused attention, free of distractions and interruptions, which are common in a gym environment. Receiving your trainer’s sole attention means greater communication, which can lead to better cueing, form, and overall direction. ission Statement  FitnessBeyond will help educate, motivate and support our clients with a positive attitude in a relaxed atmosphere throughout the entire program.  We will organize and plan a valuable fitness/eating program, and will provide clear directions and realistic feedback.  We will help our clients plan, obtain measurable, realistic goals, and optimize their chance for a successful experience. M
  • 4. 4 Table of Contents I. Business……………………………………………………………………………5  Business Background  Services  Target Customers II. Industry…………………………………………………………………………….7  Market Profile  Competition  Suppliers and Distributors  Legal and Regulatory requirements III. Operating Plan…………………………………………………………………..8  Plant and Equipment  Processes  Management  Promotion and Marketing  Pricing  Performance Measure IV. Financial Plan……………………………………………………………………18  Financing requirements  Financial analyses  Financial statements V. Supporting Documentation…………………………………………………26
  • 5. 5 I. Business Personal trainers aren't just for the rich and famous anymore. More and more regular folks are turning to personal trainers to get in shape and keep fit and healthy. As a result demand for personal trainers is booming like never before. FitnessBeyond is based in Wilkes Barre, Pennsylvania and will operate a personal training business that helps clients become healthier by increasing their fitness levels and modifying their nutritional intake. Services  Initial consultation and screening  Effective personalized fitness training and nutrition program design, planning and implementation according to the individual’s or group’s needs and requirements  Nutrition consultation  Instruction, motivation and monitoring of exercise activities, aerobic exercising, stretching, and muscle conditioning, building and toning  Demonstrating various types of exercises and techniques  Helping clients improve their exercising techniques and performance  Performing health-risk analysis to identify areas of potential concern (such as diet, smoking and alcohol)  Advising clients on how to modify their lifestyle to improve their fitness  Keeping records of the clients’ exercise sessions to monitor their progress towards physical fitness to help them reach their goals
  • 6. 6 Positioning FitnessBeyond will position itself as a most effective mobile personal training company and track several performance metrics using appropriate training software in order to provide clients with a monthly printout of their progress towards their goals. This blend of solid fitness and nutrition advice with cutting-edge technology will differentiate FitnessBeyond from its competitors. Business concept:  Offer a friendly and helpful service  Promote good health by making exercising enjoyable  Help clients assess their level of physical fitness and set a plan to reach their fitness goals  Offer nutritional recipes, online calorie counting and meal tracking to make eating healthy easy as well as enjoyable  Help clients change their activity levels and choose healthier lifestyles  Help clients achieve their fitness goals by designing and implementing creative and effective training programs through the internet  Using cutting edge exercise techniques and the latest scientific research  Achieve higher sales and customer satisfaction Business goals:  To launch the business by December 2014  To achieve good profitability and business expansion  Realize a 12 percent annual growth in revenues  Fill at least 25 training time slots each week  Establish affiliate alliances with other fitness web sites to generate referrals for online training services
  • 7. 7 II. Industry Market profile The typical client for FitnessBeyond are women in their mid-30s to late 50s, middle class and 15 to 30 pounds overweight most, not all, with children. Many interested clients are under the myth that they will need to have a large house, work-out room or at least some exercise equipment. Not true! That’s the beauty and appeal of FitnessBeyond’s service – we provide all the equipment necessary for a cardiovascular or strength training workout. Competition There are three fitness centers in the FitnessBeyond’s servicing area but none offer mobile in-home personal training services:  Keating Fitness Center  Odyssey Fitness  Planet Fitness Suppliers and Distributors Most of the suppliers that FitnessBeyond will use are family-owned businesses and they include:  Complete Fitness Equipment  Fitness Headquarters  GregWorks Fitness
  • 8. 8 Legal and Regulatory requirements FitnessBeyond will need to be in compliance with the requirements of the National Council on Strength and Fitness (NCSF):  Personal Injury Liability Insurance  Release of Liability Waiver for each client  Medical history for each client  CPR/AED/First Aid certification  Any necessary licenses needed by the state of Pennsylvania III. Operating Plan For a successful operation, the business must operate efficiently by incurring minimum costs and overheads and be able to expand in more than one direction. Each of the various elements of the business are analyzed and planned for efficient operation. Market Research People of all ages and all walks of life are spending too much time in front of computers and TVs, and this lifestyle is increasingly taking a tremendous toll on their health. Many have unsuccessfully tried on their own to exercise and keep fit and healthy but have then come to realize that they need professional help to follow an effective training and nutrition program. Target Market The Personal Training market has grown rapidly in the United States over the last decade and awareness of personal training services has been growing with 88% of gym membership holders now aware of the existence of personal trainer services. While only a small percentage of gym
  • 9. 9 membership holders have actually participated in personal training, the rate of participation is increasing rapidly. According to The Kiplinger Letter’s special supplement, "What’s Ahead For 2000 and What You Can Do with it", health care jobs will be on the increase because of our aging population. The report states that there will be a growing need for alternative health care and that more and more people will seek exercise to stay healthy or attempt to improve health. In addition, the U.S. Department of Labor is forecasting a 27 percent growth rate for the industry through the next decade. Target Market Growth With all the focus in the media on the “obesity epidemic”, the market for the personal training services is expected to increase much faster than the average of all occupations because an increasing number of people are spending time and money on fitness, and recognizing the benefits of health and fitness programs. The increased usage of fitness facilities has also increased rapidly over the last decade. Exercising and "working out" has become a mainstream activity in American's lives Decade: 2000 Decade: 2010 Decade: 2020
  • 10. 10 especially after widespread reports of an impending health crisis and obesity. This problem is largely correlated to American's unhealthy diet of fast food, and generally poor food choices, especially fried foods. The poor diet is not the only factor however. Americans were fairly inactive, with only 19% of people age 20-40 exercising three times a week. Luckily, that has changed over the last 10 years and the percentage of active people has increased to 43 percent as of 2002. More and more people are going to the gym after work or are incorporating some sort of outdoor activity into their daily routine. Doctors and managed-care organizations have also recognized that diet and exercise are crucial to keep people healthy and to avoid unnecessary costs and health-care problems. Even employers are now realizing that fit and healthy employees are more productive. Overweight people statistics show that in the United States, 55 percent of adults are overweight and a whopping 23 percent of American adults are considered obese. And the trend is spreading to children as well, with one in five American kids now classified as overweight. Rising income and the growing concern about obesity and the unhealthy lifestyle that modern living inflicts on us is expected to significantly increase the demand for personal trainers. Market statistics have shown that potential customers include:  Those that recognize the need to have physical activity in their lives.  Those that have incorporated some sort of exercise program in their daily/ weekly routine for the last several years  Those moderately overweight  Aging baby boomers concerned with staying healthy, physically fit, and independent  Children and teenagers as a result of the reduction of physical education programs in schools, combined with parents’ growing concern about childhood obesity  Business people who have no or little time to pursue any type of sport or activity
  • 11. 11  Actors, actresses, models and all those whose job requires them to keep a healthy, slim and fit body Fitness market research has also shown that:  Demand for personal trainers, increases as the income bands increases with most individuals being in the income range being of $47,000-$160,000  Fifty-five percent of the customers are single, 38 percent married  Ninety-six percent have a high school diploma, 39 percent have a 4-year degree  Demand is higher among females at 58 perc3ent for females and 42 percent for male Geography  The immediate geographic target is Luzerne and Lackawanna Counties in Pennsylvania  Services are offered in a 10 to 15 mile radius as well as online Marketing Plan Reaching the customers The proposed promotion and marketing should target these groups accordingly. The Personal Trainer business model is well known and proven and the fitness industry. FitnessBehyond will begin by targeting healthy adults from Luzerne County. Healthy adults represent the largest population of prospective clients and once a few long-term clients are established, FitnessBeyond will expand into the over 55 market which currently represents a huge opportunity for growth. Personal Training by Gender 42% 58% Male Female
  • 12. 12 There is usually a slowdown in the fitness industry in the pre-Christmas period with the highest activity manifesting early in the New Year as well as during the summer period. This is probably due to the fact that many people take on New Year resolutions to keep fit especially after the Christmas festivities and in the summer when people on vacation take the opportunity to get into shape. Successfully marketing the service is extremely important to reach the highest possible number of clients. Clients are to be reached through the following channels:  Local advertising in the free weekly newspapers  Special promotion events  Strong launch  Word of mouth and recommendations  Contacting people in the industry  Contacting employers and firms concerned about the health and productivity of their employees  Contacting local gyms  General publicity and general local promotion  Promotional material distribution including flyer distribution  Advertising in specialized magazines  Strategic placement of business cards at local businesses  Creating referral networks with local doctors and physical therapists  Periodic press releases announcing significant events for the business
  • 13. 13  Sponsorship of special events  Holding free introductory group classes once per month at local Senior Citizen Centers  An internet presence: o A website that is optimized for maximum search engine visibility o Internet promotion, advertising and banner ads o Links from several websites and forums The power of the internet is not to be underestimated and the addition of online training services is new to the market but is rapidly growing. The web can be used not only to promote and market the services, but also to offer online advice, meal planning, calorie tracking, workout plans and streamlining the scheduling and booking process of the trainer to serve more clients without the limitations of scheduling and trainer availability in the traditional business model. Bearing in mind the importance of the internet to promote the whole business, the website needs to be functional and impressive with the following features: o Booking facility o Effective Search Engine Optimization (SEO) with specific optimization for relevant keywords as driving traffic to the website is crucial o Allowing the building up a customer base thorough a registration facility o Blogs/forum Equipment needed for the health and fitness assessment/consultation 1. Body fat calipers 2. Electronic blood pressure tester 3. Electronic body fat/weight scales 4. Electronic metronome
  • 14. 14 5. Heart rated monitor and watch 6. Peak flow meter/Tape measure Fitness/circuit training equipment 1. Clear storage containers (4) 2. Compact adjustable weights 3. Dumbbells 4. Mat 5. Medicine balls (6, 8, 10 lbs.) 6. Power bars x 2 7. Resistance bands (1 x set of 4 varying resistances 8. Stability disc 9. Step 10.Stopwatch 11.Vehicle - 1 SUV to be truly mobile Pricing: The average price per session should reflect the quality of the service and the prices that the competition is charging in the area. Personal Training Packages – Price List On-on-One Training Packages Hourly Rate Savings Prices 24 sessions $50 $360 $1,200 12 sessions $55 $120 $660 6 sessions $60 $30 $360 Group Training (2 to 6 people) Packages Hourly Rate Per Person Savings Price Per Person 12 sessions $80 $40 $60 each $480 6 sessions $85 $42.50 $15 each $255
  • 15. 15 30-Minute Personal Training Sessions Packages Prices 1 session $40 5 sessions $185 10 Sessions $350 Revenue channels  Holding training sessions (main revenue)  Online consultation which may be offered through the internet for a fee  Products sold both online and at the training sessions Service Projected sales and price Introductory Consultation Free Personal Training 5 days per week x 6 sessions per day x $60/session or $495 (discounted price for 10 session bookings) Monthly Goal Tracking Report Free Online Training 10 clients per months x $50 per client Product sales $250 per month Target criteria:  Unique service with noticeable advantages and benefits compared to other similar or competing products  High quality and attractive presentation of the services  Good distribution channels  Services meet to a great extent customer needs and preferences  Services closely follow current customer and industry trends  Services compare favorably with competing products in terms of features, benefits and cost
  • 16. 16 Business Management Plan Administration All administration, running expenses and overheads are to be kept to the absolute minimum, and the expenses monitored on a monthly basis and compared to budgets to ensure costs are kept under control. Proposed business entity: Sole Proprietor Management roles: Carolyn Briscoe has over 20 years in the fitness and training industry which provides an insight and in-depth understanding of fitness and health programs. Carolyn Briscoe is fully qualified and holds all necessary certifications and will significantly contribute to the success of the business. Success Factors  Experienced and certified trainer  On-going education  Dedication and hard work of the founder  Leveraging internet technology to create new revenue streams  Fitness experience with charming and friendly personality will secure consistent business  awareness of:  The latest developments in the Industry  Up-to-date exercise techniques  Latest scientific research on exercising, nutrition and diets
  • 17. 17  Specialization: General Personal Trainer and nutrition These success factors will enable the full leverage of personal skills and abilities to provide effective as well as enjoyable training sessions. SWOT Analysis The following SWOT analysis captures the key strengths and weaknesses within the company, and describes the opportunities and threats facing the business. Strengths  Aggressive approach to attracting and maintaining customers  Use of innovative equipment and internet technology to enhance the client experience  Staff certified by major fitness certification agency National Council on Strength and Fitness (NCSF) Weaknesses  Market perception that personal training is a luxury service  Amount of revenue is limited by to the number of available appointment time slots  The costs of attracting corporate clients Opportunities  Early adoption of online training services  Increased opportunity to leverage the internet to sell related products
  • 18. 18 Threats  Services are vulnerable during an economic downturn  Some gyms restrict access to outside personal trainers IV. Financial plan and analysis This section presents a financial overview of the launching of the business and covers the first two years of its operation. It addresses the capital that’s required for a smooth operation, sales forecasts, expense forecasts, profit and return on investment projections. The aim of the financial plan is to study and analyze the initial critical period to ensure it is planned properly and to extend the projections until the project has shown its viability and met its goals. A 2-year financial projection and analysis is included in this study to achieve these objectives. Monthly revenue forecast: $0 $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 1 3 5 7 9 11 13 15 17 19 21 23 Month Monthly Revenue
  • 19. 19 Yearly forecast: Year 1: $91,291 Year 2: $107,474 Expense Forecast: The expense forecast will be used as a tool to keep the company on target and provide indicators when modifications or corrections are needed for the implementation and maintenance of the marketing plan. 1. Initial expenses: Initial expenses are high during the first months due to the cost of completing certification programs and purchasing the necessary equipment and insurance. The launch of the web site can be delayed to smooth out cash flows, but it is included with the initial expenditure in the projections. Expense Amount ($) Certification 500 Licenses, fees and permits 300 Business Establish entity 200 Legal & insurance costs 250 Equipment 2000 Marketing 1500 Website Development 300 Clothing 400
  • 20. 20 Software 100 Computer, PDA 800 TOTAL $6,350 Initial expenses Comments on the initial expenses:  Certification: includes all costs of certification and license preparation  Initial Marketing: this covers additional advertising and grand opening cost  Stationary and promotional material: stationary, business cards, flyers  Clothing: trainer special clothing.  Other: a fixed contingency sum of $1000 is used to cover various initial expenses. 2. Ongoing expenses: Ongoing costs are incurred every month and relate to the ongoing operation of the business. Some of these expenses increase, as sales increase and the projections show an increase in expenses which is related to sales. Initial monthly expense Amount ($) Gasoline/Auto 200 Internet Access 50 Website Development and Hosting 200 Advertising 350 Insurance 150 Accounting/Legal 50
  • 21. 21 Continued Education 50 Supplies 50 TOTAL expenses per month $1,250 Website development and hosting: the allocated website development sum covers full website design, development and search engine optimization as outlined above. Website maintenance, updating, hosting and running costs are included in the ongoing monthly figures if required. Advertising: covers advertising as per the marketing plan and the monthly ongoing expenditure has been increased at the rate of 0.50 % per month to allow the expansion of the business. Project returns Year 1 Year 2 Total / Average Yearly pre-tax profit $53,666 $76,153 $129,819 % Yearly pre-tax profit margin 47.03% 56.69% 51.86% % Total Net return of capital employed 536.66% 761.53% 649.09% Implementation The purpose of the marketing plan is to serve as a guide for the organization.
  • 22. 22 The following areas will be monitored to gauge performance: Measurement Review Frequency Revenues Monthly Expenses Monthly Web Site Traffic Monthly Web Site Conversions Monthly Customer Satisfaction Quarterly Referral Network Quarterly Milestones The following milestones identify key dates: Milestone Due Date Business setup (business formations, stationary, flyers, pamphlets) December 2014 Advertising campaign and launch January 2015 Website completion February 2015 Action Plan: 1. Setup the basic structure for running the business 2. Complete the promotion material: stationary, business cards, info packages, flyers, catalogues, etc. 3. Website development 4. Setup merchant account/PayPal account to take online payments. 5. Full update with the latest developments and trends in the industry. 6. Follow the marketing plan 7. Launch the website and the business Monthly Expense Budget
  • 23. 23 Capital injection The resulting plan shows that a $4,900.00 capital injection are needed to cover the various expenses. The closing balance shows a positive figure all the way along, which confirms that no further funds would be required thereafter and that the project is self- supportive. $4,100 $4,200 $4,300 $4,400 $4,500 $4,600 $4,700 $4,800 $4,900 $5,000 1 3 5 7 9 11 13 15 17 19 21 23 Month Monthly Expenses
  • 24. 24 Revenue Projections Project returns Year1 Year 2 Total / Average Yearly pre-tax profit $30,843 $49,284 $80,127 Yearly pre-tax profit margin 33.79% 45.86% 39.82% Revenue projections The projections show that the first year profit is $30,843 increasing to $49,284 in the second year. The first year projections show a lower profit because of the initial expenditure incurred in the first year which has all been written off as non-recoverable expenditure (except for any purchased equipment which is depreciated over a 3 years period).
  • 25. 25 The project shows profit margins of 33.79% in year 1and 45.86% in year 2 with return on capital of 308.43% in year 1 and 492.84% in year 2. $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 $5,000 1 3 5 7 9 11 13 15 17 19 21 23 Month Profit Projections 0.00% 100.00% 200.00% 300.00% 400.00% 500.00% 600.00% 1 2 Years Return on Capital
  • 26. 26 Financial Analysis Financial analysis examines the financial situation if things don't go according to plan. Analysis of the various elements affecting the viability of the project shows that the main risk element is the revenue from sales. The other projected elements are not likely to get out of hand as all overheads and operating expenses have been kept to the minimum and expenditure can be kept under control by closely following the budget. Timing is not an issue either and there are no apparent potential technical or operational difficulties. V. Supporting Documentation  Personal Trainer Liability Waiver  PAR-Q Form  Medical Release Form  Fitness Progress Chart  Personal Training Contract