In your company analysis, you will detail the type of gym you are operating.
- Membership Gym: this is the most common type of gym or fitness center. Members pay a monthly or annual fee in order to access all of the amenities which typically include free weights, cardio equipment and weight machines. The membership gym may include personal training services (for a fee) and fitness classes (possibly for an additional fee).
- Twenty-four (24) Hour Access Gyms: these types of gyms can be accessed 24 hours a day via member key cards. Such gyms usually include free weights, cardio equipment and weight machines. They usually do not offer fitness classes and have less staff and amenities than membership gyms.
- Training Gyms: training gyms usually only offer personal training and small group training classes.
While these are the 3 most common types of gyms, yours doesn’t have to precisely fall within one of these three categories. Think about your gym start up or gym you are growing. Are you interested in offering broad-based general fitness? Do you specialize in hard-core athletics or focus on beginners? Do you provide lots of classes and personal trainers, or is yours more of a workout room with only a handful of staff? Document the precise gym you are/will operate here.
In addition, use the Company Analysis section of your business plan to provide background on your fitness business. Include answers to question such as:
- When and why did you start the business?
- What milestones have you achieved to date? Milestones could include sales goals you’ve reached, membership/customer amounts reached, new store openings. They could also include hiring a respected fitness guru or securing a key partnership with an equipment vendor.
- Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.
Finally, in this section, you should elaborate on your gym’s unique qualifications, such as the fact that you offer the only yoga classes in town or have a heated indoor pool.