Alloy Personal Training Business From Fitness Professional To Business Owner
Many fitness professionals such as coaches and instructors have the ambition of transitioning to being a gym owner. However, they do not know how to go about it. They do not know where to start. In this episode we look at the steps you have to take to successfully transition to being a fitness entrepreneur.
The first step is having a business plan. Many entrepreneurs start their businesses without one which leads to failure. A business plan should be built around your vision. To have an effective business plan, you have to simplify your vision. Determine precisely what kind of service you want to offer and build your business right from the start.
Securing capital to start the business is a big deal. Many business professionals underestimate the amount of capital needed to open a new business and building a brand. You can get this money from your own savings, friends and family, or a bank.
However, for a bank to give you money, they have to see a solid business plan. If you cant come up with this, a franchise would be a better option since all the details are taken care of. A fitness franchise is like a massive shortcut. You don’t have to make the same mistakes entrepreneurs who came before you made. The system is already well developed.
Listen in to hear more of this and other steps you need to take in your journey from a fitness professional to a fitness entrepreneur
Key Takeaways
- How can a fitness professional transition to being a fitness entrepreneur (04:16)
- Why having a business plan is the first step to starting your fitness entrepreneurship journey (05:04)
- Simplification of your vision and your business plan is a core value in business (07:38)
- Finding and securing enough capital to start and run your business (10:36)
- Why getting hold of a franchise is better if you cant come up with a solid business plan (13:46)
- Being part of a fitness franchise is like a shortcut. You avoid making the same mistakes (20:25)
- Looking at the end game of your fitness business and planning your exit strategy (25:02)
Additional Resources:
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