But Before We Get on the Treadmill…
We have helped overentrepreneurs and business owners create business plans and many have used them to start or grow their gyms. The gym will also offer HIIT group classes, spin classes, strength training instruction, and personal training. The gym will have a welcoming atmosphere, experienced personal trainers, friendly staff, w frequently cleaned equipment and restrooms.
The membership options are affordable and will be offered on a month-to-month basis, a 6 or 12 month contract, or the ability to pay for an entire year upfront. Discounts will be offered to military, teachers, and healthcare workers.
El Paso is a very diverse city that includes men and women from all wfite of life. There are numerous blue collar individuals, white collar individuals, government employees, and military members as the local Army base is one of the largest in the country.
Steven will manage the day-to-day tasks of running the gym, while overseeing the staff, scheduling the group HIIT classes, and making sure all equipment is working properly and safely.
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He will also be in charge of ordering any new and replacement equipment and cleaning products and supplies. Steven will hire a gym manager to manage all new member sign-ups, placing them on a recurring payment schedule, and handle all member issues. There will be three personal trainers that will be available how to write a business plan for a fitness center personally train any member that requests training.
They will also take turns running the group HIIT classes. Steven will outsource a local CPA to handle payroll, accounting, and tax payments. The funding will be dedicated towards securing the warehouse space, gym build-out, and purchase of the gym equipment. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, rent, and working capital.
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The breakout of the funding is below:. As a frequent gym goer, Steven ubsiness that El Paso lacks high quality independent gyms. The nicest and most equipped gyms in El Paso are large franchises that have too many rules and regulations.
Other independent gyms are dirty, unorganized, and do not offer a large selection of equipment. Steven envisioned a gym that was welcoming to all types busiess people that is encouraging, clean, and adequately equipped for those who are focused on sustaining an active, healthy lifestyle. This growth is likely a result of increased per capita disposable income, in addition to growing health-consciousness.
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Additionally, time spent on leisure and sports is expected to increase over the next five years, effectively increasing the potential pool of consumers. During this period, demographic changes are expected to drive revenue growth for operators. Aa revenue streams are also expected to play an integral part in industry growth.
In particular, as healthcare costs continue to escalate, health insurance providers may implement incentives to promote preventive health practices, including the use of fitness centers among individuals within their provider network. Furthermore, the number of obese individuals in the United States has increased buziness recent years.
Additionally, initiatives that promote the health benefits of exercise will likely increase over the next five years, stimulating industry revenue.
A description of each competitor company is below.]