Many people want to be entrepreneurs theses days but it takes a lot to be successful in any highly competitive and therefore lucrative market place. If you are passionate about fitness and healthy living and want to make it your career there are many options and the ability to become a full time fitness entrepreneur. Starting things such as green gyms and healthy living centre’s have a set of challenges and with such important questions that need answering, it can be a bit daunting. Not knowing things such as the potential cost and not knowing about what obstacles may appear are sure fire ways to have a difficult ride in your journey.
The key to being successful with any business related to the hospitality or service industry is possessing the passion and knowledge along with the right people skills and the ability to deal with the variety of things that customers might bring to you. Sometimes knowing what to expect can be a challenge. Hopefully the following information will help you along your way to being a successful fitness entrepreneur.
The first thing to do is to not start taking steps immediately. Most people when starting out do not fully think out a strong plan of action and end up paying for it with lost time and money. If you are interested in the healthy living sector you need to clarify what exactly you are offering and what your primary focus is. Mark out your overall vision and then break that up into individual goals and ideas. First map out the style of business. Will it be a health food and juice bar in a mall kiosk?. Or will it be a 24hr privately owned green gym?.
After deciding what you want to do now think about how it will be presented. What will the overall ambience of the facility look like?. Will it be catered more towards attracting high end professional athletes? Or people with families?. These factors will have an effect of the size and design of the facility you will need. For example a unisex gym will probably have to have to separate bathrooms and a facility that is geared towards families may have to consider the changing environment towards things like whether or not they will allow open breast feeding or provide a special room.
Relating back to our mention of being prepared you will not want to start any business like a gym or health centre without first having a reliable client base or at least a potential pool of people that will most likely use your facility and services. Building relationships with people are critical when compelling people to commit to your gym as getting locked into any contract is a big deal for most people and it will take some trust before people you know will leave their current gym and sign on with your.
Creating the business plan
If their is going to be anything involving a bank in your project you will need a solid business plan. Thinking out every possible contingency will help you cut costs in the future by being prepared when typically unpredictable things happen. Once finished have someone you know who is experienced in business look over your plan as they might catch things that you miss. If someone is unavailable you can use one of the few online programs available. As you gather all the information you can remember that managing your budget is critical. Everything from insurance to cleaning costs to attorneys fees must be calculated ahead of time. Time needs to go into calculating the projected revenue you will have and base the number on the lowest amount of clients you expect to have. You don’t want to get careless and overspend after overestimating your profit.
Look at other examples of successful gyms and facilities around the country. Look at how they got started and how they first marketed to people. Having an edge by playing a specific angle can be very advantageous so look at the styles of these places and decide what you want to do based on the successful stylistic components.
If you are going to have a partner you must make sure you have a clear agreement written out and a contract stating all the responsibilities and expectations of each party. Hire a lawyer for this and get them to help you with the other aspects such as business registry, obtainment of permits and other legal aspects of starting a business. Insurance is also necessary to protect yourself against and losses. Finally an accountant will be needed to help you with your finances and taxes as thing can get complicated when it comes to business.
Hopefully you will consider these basic ideas about starting a business in the health and fitness sector. Remember that being passionate is great however it is often not enough to be successful. Make sure you have a strong plan before you get started and remember to take your time as you can lose a lot by acting without thinking.