gym business plan summary

• Online classes
• Tips and tools

Gym business plan: a checklist with templates & examples

In this article, you'll find a checklist of everything you need to know to create a business plan for your gym or fitness business.

If you've recently discovered an ambition to start a gym , or this has been your dream for years, we've got you covered!

The first step in your journey is to create a gym business plan. This will include understanding your business's structure, determining your target market and what sets you apart from other gyms (your unique selling point), forecasting future finances, and any further details about your venture.

Your gym business plan is the key to your success. It will help you make better decisions and attract potential investors. Creating a business plan is ongoing; it's not something you do once and then forget about. Your business plan should be flexible and adapt as you move forward. 

You have to consider many elements to ensure your gym will succeed. All stages of your business plan are critical. In this article, we'll be doing a deep dive into understanding the core essentials of creating a fitness business plan.

What is a gym business plan? 

A gym business plan is a document that informs the reader about your company and where it's headed. In other words, it answers essential questions such as:

• How does your business work?
• How are you going to succeed?
• What steps do you need to take to succeed?

According to research, entrepreneurs who write formal business plans are more likely to be successful . 

This is especially true for business owners seeking external financial support. A formal business plan can help new businesses by providing a clear focus for their ideas.

Why it’s important to have a business plan for your gym? 

Simply put, your gym business plan is an organized and detailed process that provides a roadmap for your business. If someone reads it – like a potential investor, for example – they should be able to understand how you expect the gym to progress and succeed over time.

Plus, putting together a business plan with detailed description forces you to take a critical look at your operation as it currently stands and identify room for improvement or new areas of opportunity altogether.

Depending on where your business is located, a well-crafted business plan can serve multiple purposes.

Keep reading for even more reasons you need a business plan from day one!

Taking advantage of a steadily growing industry

The gym industry is booming, allowing gyms to capitalize on this growth. In the US alone, over 87 million people regularly attend the gym and spend billions of dollars annually on membership fees.

And according to projections, the global gym market is expected to reach 434 billion USD by 2028 – a 171% increase from 2021! This steady growth provides room for gym owners to get in on the action and reap the benefits.

By having a gym business plan that considers the health & fitness industry as a whole, you'll be able to capitalize on this growth.

Ensures your business idea is feasible 

If you're considering starting a fitness business, know it will be complex. You have a fantastic idea and think it could take off--but how can you test that theory without launching the business? 

This is where a business plan comes in handy. By working through your concept and creating a well-rounded plan of action, you'll be able to figure out key details like numbers, market trends, and what your competition is doing and save yourself loads of time down the line.

It helps to bring in investors and secure funding 

To secure funding for your gym business from investors, you need a comprehensive business plan. This document helps startup businesses obtain the initial capital they need and provides established companies with funds for expansion.

Would-be contributors usually request substantiated data— such as numbers backed up by facts and figures—before deciding whether or not to invest in a project.

If you don't have a business plan, chances are slim that you'll receive money from sources like investors, banks, or other financial organizations outside your company.

Set and reach goals, both big and small 

Having long-term and short-term goals is a great start, but it's time to take the next step. A successful business plan will contain specific tactics on how you plan to achieve your objectives. 

This might be through your business model, acquiring equipment, hiring new talent, or marketing campaigns.

A successful business needs a clear plan to achieve its goals. Breaking down important goals into smaller, more manageable pieces would be best. 

And remember-- as your business changes and grows over time, so should your plan. Keep it updated regularly. 

Business planning is no longer a daunting task

A business plan is a vital tool for new and established businesses. It provides direction and helps to set the foundation for a successful start. 

By budgeting, analyzing your market, and setting out your goals and strategies, you can make more informed decisions about how to proceed. This process also makes it easier to track your progress over time and assess whether or not you are on track.

Something to consider before creating a gym business plan

Consider the cost of starting a gym. There are many potential expenses, such as equipment, personal trainers, class instructors, insurance policies, property fees, etc.

Also, consider how much time you are willing to invest in this venture – especially during the beginning stages when there is likely to be a lot of work involved in getting everything up and running smoothly.

It can be challenging to maintain a good work/life balance when starting any business; it will probably require working additional hours outside of your usual schedule.

Money and time are essential, but there are other things you need to be successful. 

People skills, marketing know-how, and financial smarts are essential if you want to succeed in the gym business world. It's not going to be easy, but it will be worth it if this is your passion. A solid plan is the first step toward making your dream a reality.

The 11 key elements of a detailed gym business plan

Before you develop your business plan, think about where you are and where you want to see yourself. Keep this vision in mind, as it will help guide you through writing your business plan. There will be countless opportunities wherein consulting your business plan will assist you in making a decision.

To create an effective health club business plan, you will need extensive research on your fitness industry, competitors, and future finances. 

Following these 11 steps, you can build an excellent gym business plan that covers all aspects of your health club.

Step 1: Executive summary

Your executive summary needs to be clear and concise while also grabbing attention. What you want readers to know is:

• Your mission/purpose
• How you'll achieve success (What will make you a success story?)

And finally, your vision for the future. Though it may seem tempting to hurry through this section because it is shorter than other parts of the business plan, don't rush! 

This is your chance to shine and explain what makes your company special. Don't worry if you feel like you have more to say about your goals and vision. You can expand on these topics in your company overview.

Step 2: Company overview

Your company overview is where you get to sell your gym and its potential. Build on your executive summary's vision and mission statement, delving deeper into what makes your gym unique. 

Think of your vision statement as a tagline for your future website. When outlining the purpose of your gym, which audience it will cater to, and how you plan to achieve business goals, also consider including the following: 

Your personal mission statement for the business- i.e., what outcome do you hope to see?

Then, give your readers some information on your background:

• What have you done in the past?
• Have you had any other businesses?
• What is your current status?

This is helpful for investors and partners to know so they can understand where you've been and where you're going. The more they know about you, the more trust they'll have in you.

Step 3: Services and amenities

Outline your strategy in detail: what services you'll offer and how you will develop new offerings. This includes if you need to hire someone or build a facility, such as a spa or a studio. 

This information will help you realize when or where your business requires more funding and extra staff.

By describing your products and services, you can gain valuable insights into your gym's size. Test your vision to determine if you have the necessary funding for these assets. If not, consider how you might acquire the required financing.

Some potential products you could invest in are: 

• Gym equipment like treadmills and rowing machines 
• Specialist equipment to cater to different types of gym-goers, such as bodybuilders 
• Food and drinks like energy drinks or healthy foods 

And services like: 

• Personal training sessions 
• Group classes like yoga, spinning, or body pump 
• Lockers for storing belongings while working out 
• Spa amenities like saunas or massages 
• A swimming pool 
• Physiotherapy

Furthermore, thinking about increasing your market share is a significant next step. You could start by offering pro bono services at local workplaces and schools, eventually introducing a fee.

This way, you can attract larger customers while still providing value.

When creating a business plan - be it for a gym or something else entirely - remember that its purpose is to lay out your objectives easily for potential bankers, partners, employees, and investors.

Step 4: Management team

It is essential to consider the positions you'll need to fill and how these people can help your gym succeed. 

You should write a summary emphasizing their skills and management experience while incorporating what they will be responsible for and any incentives you plan on offering.

Furthermore, creating an employee ladder is vital to establish who or what each new hire will report to so your business can secure its success.

Step 5: Market research and marketing strategy

Marketing is a field where creativity can shine. It's all about identifying different groups of people who would buy your product, coming up with reasons why they should choose you over others, and figuring out ways to get more sales.

Learn more:

Gym marketing strategy

Gym promotion ideas

Gym membership pricing

Best gym features

Even if marketing your fitness business isn't your favorite thing, remember that your marketing strategy will help you lay out a plan for expansion if you do it right. Your first target should be to summarise what you found in your market research. Are you still stuck? 

Consider where you are situated, similar businesses nearby, and who makes up the community around you.

Define your target market here. It could be

• Working professionals
• Senior executives

Or a particular group, like cyclists. After that, try to understand why this specific demographic would join a gym – for example, are they looking for cardio?

After you have completed your market research, take some time to understand your target audience. Ask yourself the following questions:

• How can I make this customer base loyal?
• What makes my company unique?
• What's the best membership package I can offer?
• Is there a need for special equipment or offerings?

In your plan, identify and communicate what makes your business valuable and unique. 

This is called a Unique Selling Proposition (USP), and it will help instill confidence in potential investors that they are making a wise choice by investing in your company. 

Furthermore, detailing marketing strategies in this document provides peace of mind that future income streams are lined up and secure.

There are many marketing strategies you can use to grow your business, including:

• Improving your services
• Advertising and sponsorship
• Loyalty plans and website promotions
• Email marketing campaigns
• Investing in new equipment or technology

Step 6: Competitor analysis - Understanding direct and indirect competitors

To do a competitor analysis, research businesses in your field that offer similar services. These are your direct competitors. 

You can mention indirect competitors, but this section is mainly for an in-depth look at businesses like yours. Depending on your business type, you could have brick-and-mortar and online rivals.

When investigating a competitor, these are some critical areas you'll want to focus on: 

• Services and products they offer 
• Target audience 
• Pricing and business model 
• Strengths and weaknesses

Step 7: Create comprehensive financial projections

Starting a gym requires careful budgeting. Make sure you consider every possible purchase and estimate the cost of each item.

The following are key areas to cover when starting your business:

• Lawyer fees
• Recruiting expenses
• Constructional endeavors
• Exercise equipment for the workplace
• Three months' worth of bills and other operational costs
• An accounting software

It's time to be practical and ascertain how much money you will need to open your gym and make it thrive. This way, you'll get a better understanding of what falls within your budget and what will require additional funding.

Next, you need to prove to investors, stakeholders, and employees that you have a feasible plan for attaining ROI. 

Consider revenue streams such as classes, services provided, and product sales- anything that brings in money. Set down an estimate here based on research and expert opinion.

If you're looking for ways to make money, selling healthy food could be a great option. You could create your protein shakes or energy bars, for example. 

If you plan to sell food, ensure you stay up-to-date with food hygiene standards.

Step 8: Financial forecasting

Your sales forecast for your business's first, second, and third years should be detailed. Specifying the number of active members, you estimate for your first year would also be beneficial. Estimate using:

• Unit sales per month
• Any relevant past data
• How purchases will be broken down (as specified in financial projections)

Step 9: Financial strategy

How can you use your fees in a way that will increase customer registration? For example, if all the other gyms in your area charge higher prices than average, this could be an opportunity to set your business apart by being financially conscious (lowering membership fees or having better offers than competitors).

Consider ways to show your appreciation for loyal customers, such as discounts or complimentary services.

Furthermore, if you're in the process of creating a gym and spa business plan, consider adding discounts for those who use both facilities. For example, many people would love to take advantage of the jacuzzi after working out.

Writing your pricing strategy down will help give you peace of mind about what's to come for your gym.

Step 10: Payment option

An easy and accessible payment system is crucial for any business, let alone a gym. To retain customers , ensure your payment processing is up-to-date and user-friendly. 

Let potential investors know what platform you're using or planning to use, so they can see that you're taking customer experience seriously. A positive buyer experience will encourage loyalty among your clientele.

Step 11: Funding

Make it clear where your business will obtain the extra startup capital it needs. 

This is a chance to be practical about your company. Can you realistically obtain the funding required to reach your targets? Or do you need to readjust your plan?

Below are some vital external resources that might provide the necessary funding:

• Loans from friends or family members
• Crowdfunding campaigns
• Business partners or sponsors

If you are looking to gain investors, be sure to detail where the funding for your project will come from and how much of a return they can expect. You should also include any previous loan applications related to this venture here.

You're almost there!

Now it's time to put all the elements outlined above into a gym business plan. This plan will be a reference point when you need to make tough decisions, help secure investment, and show direction to new employees or partners.

Your next steps to successfully run your gym

Here's a personal checklist to help you ensure that you have everything covered before you open your gym. Use it as a reference point throughout the development process to ensure nothing is overlooked.

• Write a business plan
• Register business
• Apply for a business license and permit
• Open business bank accounts
• Select an online payment platform
• Obtain taxpayer's ID
• Purchase insurance
• Rent/purchase facility
• Purchase/rent equipment
• Secure funding
• Recruit employees
• Drafting contract documents along with any other legal documents required
• Design company logo
• Develop website
• Write website content
• Create social media accounts
• Design leaflets & brochures
• Organize branded uniforms
• Launch party

Any business, no matter how big or small, comes with its fair share of challenges. However, the payoffs in the end always make it worth your while

Starting a gym can be an exciting and rewarding venture. However, it is important to ensure that you are well-prepared with all the necessary information before you open your gym. 

A comprehensive Gym Business Plan detailing the market research, financial projections and strategy, services and amenities, management team, and more should be developed to ensure success. 

Additionally, obtaining the necessary licenses, finding and hiring trainers, investing in the right equipment , and appealing to members with friendly incentives are all important steps.

Gym business plan template & examples

In addition, we've gathered a few of the gym business plan templates and examples below. These samples will provide you with suggested language for your own document as well as guidance on what to include.

Adam Fitness Centre

Grow think's template

PAWSitively Fit Club

Ecogym business plan

Capital Health and Fitness Club

Frequently asked questions on good gym business plan

How can i start my own gym business.

Follow these steps and understand gym business plans:

• Choose your area/location
• Develop a comprehensive business plan
• Apply and obtain all necessary licenses
• Find and hire certified trainers
• Invest in the right equipment for your business
• Appeal to members with friendly incentives

How do I write a business plan for a gym?

To write a gym business plan, you can implement the steps below:

• Executive summary
• Company overview
• Services and amenities
• Management team
• Market research and marketing
• Competitor analysis 
• Financial projections
• Financial forecasting
• Financial strategy
• Payment option

What type of gym is the most profitable?

Out of the gyms surveyed in November 2020, 69 percent of CrossFit gyms were profitable, while half of martial arts gyms reported being in the black.

Is owning a gym a good business?

Owning a gym can be profitable, but you will need more time to make yourself rich. To succeed in this industry, you must put in the effort.

Do gym owners make money?

According to ZipRecruiter, an American jobs marketplace, gym owners in the United States will earn an average of $69,472 annually as of June 2022.

Do gyms make a lot of money?

A gym that is managed efficiently and has a good mixture of members can generate quite a bit of money. For example, if a gym has 1,000 people paying $50 monthly, the gym could bring in $50,000 each month. And if the monthly expenses for the gym are $20,000 per month, the profit would be $30,000 per month.

Webinars and Live Events

From product demos to valuable insights from fitness business owners - watch on demand or sign up for future events!

Ready to scale your fitness business?

Try the #1 fitness management software for boutique fitness studios, gyms and franchises.

What I really enjoy about working with TeamUp is there’s a face to everybody. It’s not a random email. There’s communication and follow up.

—Stella Hull-Lampkin, BASI Pilates USA

Related posts.

Drive revenue with your own virtual content

If you’re not weaving virtual content into your in-person offerings to create an ecosystem of value for your clients, your...

Streamline your scheduling with Recurring Appointments

Never has it been so easy to book a client in for repeat one-on-one sessions at your gym or studio. Introducing Recurring...

The boutique franchises disrupting the fitness industry

At the start of the year, TeamUp shared the 10 trends set to rock the fitness industry . One of those trends was that franchises...

How to become a personal trainer

The fitness industry has seen a major increase in the number of individuals who want to become personal trainers . Not only does...

How a Bootcamp owner goes above and beyond for his customers

While the pandemic threw a curveball into the plans of fitness business owners worldwide, many jumped at the opportunity to...

The top 2022 fitness trends to know about

When 2021 rolled around, the state of play for gyms, studios and the rest of the fitness industry was still uncertain. However,...

The power of business reviews

Nowadays, almost everything can be looked up online, including what other people think of your business. Studies have shown...

Home > Blog > How to Write a Gym Business Plan (Step-by-Step Guide + Free Template)

How to Write a Gym Business Plan (Step-by-Step Guide + Free Template)

• Updated on 06/08/2024

Opening a gym can be very lucrative but requires a well-thought-out business plan. We mean a document that will help you understand what steps you need to achieve success at your gym. This article will discuss how we design a plan for a fitness business from the scratch.

We will present some examples and gym business plan templates. They will help you understand what elements should be included in this document. From concept development through market and competition analysis to a financial plan.

This article gives you a solid foundation for writing a business plan. Doesn’t matter if you are creating a new gym or improving an existing one.

Download: Free Gym Business Plan Template

What is a gym business plan?

A gym business plan is a document that describes planned activities, goals, and gym marketing strategies for a new or existing gym. It is an important document for anyone who wants to open or develop their own fitness business.

How to write a gym business plan (Step-by-Step)?

• Step 1: Gather answers to important questions from the list below before writing your plan.
• Step 2: Are you opening a gym with an innovative business model? It is better to wait to start writing a business plan immediately to verify whether this model can succeed. 
• Does the gym have a traditional business model (e.g., hour-scheduled group training sessions) already existing in the market? You can skip this step and create a business plan immediately.
• Step 3: Create a gym business plan using the ready-made template (pattern) described below.
• Step 4: Review the business plan regularly, every month in the first months of running the gym, and at least once a year in subsequent years. A business plan is a living document that will help your fitness place grow.

What to remember when creating a gym business plan?

• Write short and concisely. Be specific.
• Use numbers for calculations.
• Assume black scenarios. The blacker you assume, and yet the business has a chance of success, you will manage to beat the market.
• In the first months of the gym’s operation, work with the business plan daily and update calculations and assumptions.
• Once the gym is stable and has reached the so-called break-even point, return to the business plan at least once a year.
• Discuss the business plan with your team. Also, consider sharing some of the profits with your team. In this way, you will build a unique commitment.
• The business plan is for years. The document should be updated regularly.

Where to start writing a gym business plan? (10+ questions to start with)

Start writing your document by answering a few important questions. The questions help you create a good business plan for opening a gym and, above all, help you design a business that perfectly suits your needs:

• Why do you want to start this gym?
• How much would you like to earn per month? 
• How many clients do you plan to serve per month? 
• What kind of gym do you want to run? (e.g., group training place, personal training place, specialized gym of one kind of sport or one kind of clientele). Here is a list of types of gyms and other fitness businesses.
• What kind of service will you offer? (on-site, online, mixed).
• What area will you operate in?
• Who will be your client? 
• How many direct competitors are there where you want to operate?
• How will your gym stand out?
• How will you manage your gym? What gym management software do you choose?
• Who do you need to hire to start a gym? Do you plan a gym staff management software ?
• What metrics will you keep track of? (e.g. retention rate, customers opinions).
• What will your gym look like inside?
• What will the atmosphere of your gym be like?
• What will your fitness offer look like? 
• What will your gym pricing strategy be?

Recommendation

Remember that a sample of your fitness classes can attract potential customers. A well-performed meeting will help you sell your idea. The trainer’s performance and place’s image are your #1 sales tools.

What to write a business plan for?

• A business plan is an action plan. You will stop dreaming and start turning your idea into a real gym business plan.
• Running a business is working in a company. Creating a plan is working “on the company,” i.e. its design and improvement.
• A gym business plan will allow you to verify your assumptions. You will observe it in a year, two, or five years. It’s super satisfying to watch how your knowledge grows every year.
• Writing this document allows you to translate your vision into a specific project and action plan. It also allows you to rethink to what extent your business idea is a recipe for success and what you still need to refine.
• Creating a business plan for a gym will help you assess the reality of your dream. You’ll check the possibilities of its implementation, as well as check the chances of its success. It’s also important to assess the risk you have to take.
• A business plan forces you to be specific. If you don’t know the answer to a question in our guide, you may be blind in this area, which is very risky.
• If you already run a gym and don’t have a plan, fix this mistake. Every gym should have some sort of ideas for the present and future actions.

When is it worth writing a business plan?

In our opinion, it’s always worth it. You plan to open a successful gym, right? Not having the basic elements of your fitness business written down and calculated… dooms you to failure. Remember to verify them regularly too. 

Only a regular analysis of the gym’s results (read more about gym reporting ) and planning the next moves (in the form of a business plan) allows you to have full control over the gym.

Of course, the external motivation is looking for an investor or support (then you are forced to create this document).

Helpful resources when creating a gym business plan

• How Much Do Gym Owners Make in 2024
• How Much Does It Cost To Open a Gym in 2024
• Opening a gym (Step-By-Step Guide)    

Free gym business plan template

A typical gym business plan example includes:

• Executive summary for a gym
• Gym description
• Market analysis

Competition analysis

• SWOT analysis
• Investment costs (one-off to start)
• Operating costs (fixed monthly costs) Financial Projections
• Profit and Loss Account

Break-even analysis

Sensitivity analysis

• Gym marketing plan
• Company description of the vision for further development of the gym

1. Executive Summary

The summary of the gym business plan should include:

• Mission statement, vision, and values.
• Description of the gym concept.
• Why will this idea be a success?
• How do you want to implement this plan?
• Profits and return on investment.

The executive summary should be written at the end after you have written your entire gym business plan. The executive summary wraps the business plan up. It provides the reader with the most important information in a very concise form (max. 600 words, i.e., about 1-2 pages). Discuss only the key aspects of your business idea. Use points!

2. Description of the gym

This section aims to show you the details of your gym. It should not lack the following elements:

• Mission: why do we exist?
• Vision: what we want to achieve in 1, 2, and 5 years.
• Business Type: Is your gym a sole proprietorship, partnership, or other business?
• Gym name (get inspired by this list of gym names ).
• Gym type: specify the type of gym, e.g., personal training gym, group fitness classes gym, online training studio, wide offer studio, etc.
• Specific location: write exactly where your new gym is (or could be) and why you chose this place.
• The style of the place: what will be the colors, atmosphere, decorations, music, etc.
• Ways to serve the customer: only on-site, only remotely, both ways.
• Hours of Operation: What hours will the place be open? Why are these?
• Your offer is surely connected with your experience and skills. But remember to be creative and have 1-3 differentiators from the competition (Unique Selling Points).

3. Market research and competition analysis

You should thoroughly analyze the space to create your premises. Oh, unless you are introducing real innovation to the market – or maybe especially then. What needs to be observed? Analyze the market and competition, focusing on the following:

Market analysis Customers are the key to any gym’s success. Knowing their demographic structure, preferences, and training habits is critical to a business plan.

• Target market for a gym: Think about who your customers will be. Consider their age, interests, expectations, and how to reach them.
• Needs in the market: Describe the market’s needs and how your gym will meet them.
• Target Audience Size: Determine the number of potential customers in the market you intend to target.
• Market trends: Use credible information to show that people will be interested in your gym idea. Find out current trends and how the gym industry is developing.

Check out other gyms that are or could be your competition.

• Is there any other gym or fitness center in your area? Make a list of them.
• Revenue and number of customers they can achieve: Estimate how much such gyms can earn
• Offer and prices: Analyze what these places offer and what is their gym pricing . Try to calculate their revenue cost (it is how much you need to spend before you start earning).
• Competitor marketing activities: See what makes them successful and their weaknesses.
• Competitive advantages: What will be your advantage?

SWOT analysis The abbreviation comes from the words: S for Strengths, W for Weaknesses, O for Opportunities, and T for Threats. Fields S and W are related to the gym’s launch situation. While the O and T fields are related to the success of your project in the future. It is worth conducting such an analysis in the form of a table:

4. Investment plan (cost analysis)

In this section, you will present the costs associated with the initial investment and the spending plan for the first year of operation.

List the costs, dividing them into two groups:

• Investment costs (one-off to start).
• Operating costs (fixed monthly costs). 

After opening a gym, verify the costs regularly, preferably once a month.

Investment costs include, among others:

• Rental or purchase of the real estate.
• Renovation and adaptation of the fitness facilities.
• Purchase of exercise equipment: mats, kettlebells, dumbbells, other special equipment, like poles for a pole sport studio, etc.
• Reception Desk.
• Unified Work Clothes for the staff (if you plan it)
• Gym POS software.
• Payment terminals.
• Computer hardware for the POS system.
• A website with online booking.

Regarding point 5 and 6, take into account a very important monthly purchase, which will however save your time and money finally. It’s a gym management software. You can compare some of the software providers on the market to meet the best gym management software . Yet, what we recommend is WodGuru . With its reasonable price, many useful features, amazingly helpful support and nice cartoon visual identity.

• Insurance of the premises and equipment.
• Organizational and legal costs (e.g., regulations, documentation).
• Costs related to permits and licenses (e.g. license to conduct exercises according to a patented pattern and name).
• External training costs.
• Operating costs.
• Rental of real estate (if the premises are rented).
• Electricity.
• Staff wages: personal trainers, receptionist, outsource trainers etc.
• Purchase of additional items like finger food and drinks.
• Equipment maintenance and servicing costs.
• POS system support.
• Online booking system.
• Employee insurance.
• Online and offline advertising.
• Printed materials.
• Running social media.
• Website positioning (SEO).
• Taxes and fees.

Gym Website Builder

Create your own gym website in minutes.

Use WodGuru website creator to craft a site that turns visitors into customers. Don’t hesitate to contact WodGuru now.

How to finance the opening of a gym?

The biggest problem for a novice gym owner is finding financing for the first business. Various options are worth considering.

• taking out bank loans,
• receiving subsidies — a business plan will even be necessary to receive them
• loans from friends or family.

Considering bank loans or a subsidy, you must first think about the black scenario. What will happen if your business fails and you have to return the borrowed money? But also what to do to prevent this from happening? How much does it cost to open a gym and which costs are inevitable? How high the margin you have to impose on the training performance? This is the key to assessing the chance of return on investment in the gym.

5. Financial forecast

The financial forecast consists of 3 elements:

• Projected profit and Loss Statement: Shows what turnover and profits you will generate. 
• Break-even analysis: Shows when a gym will become profitable.
• Sensitivity analysis: Shows what happens to turnover and profit in negative scenarios. E.g., 50% decrease in turnover for three months.

Profit and Loss Account You will need to estimate the value of the sale considering the size of your gym, target market, sales volume, and revenue cost. You will get a profit and loss forecast, comparing this with the costs. The easiest way to prepare a profit and loss account is in the form of a table:

Investors will want to know how much revenue you will need to generate each month to break even after all fixed and operating costs are considered. In the analysis, you should show how you intend to generate the necessary revenue, even in difficult months with lower sales.

It is worth doing it to assess the negative scenarios.

• The other gyms will be stronger, and you will have to lower price
• You lose key employees
• There is a decrease in sales by 10 or 20% compared to what you assume

This will allow us to be prepared better for different financial crises and reduce stress when such a situation arises.

Make a sensitivity analysis in the form of a table

Business is people. Describe what your team will look like, dividing it into two groups:

If you are looking for investors, this area can be critical for them.

Describe the founders:

• List of founders.
• Experience.

Which positions are necessary for the daily functioning of the premises? Is it the receptionist, a permanent personal trainer, an outsourcing trainer, social media platforms specialist, etc.? Who will suffice as emergency help?

Think about which people you already know with the necessary competencies. Which ones will you have to look for or train as your employees from the beginning? The cost of necessary training should also be included in the gym business plan.

Describe the team you need to build:

• List of job titles.
• Remuneration.
• Type of contract.

7. Marketing plan

Ideally, your marketing strategy should include the items we listed. Below we describe how to do effective marketing in your branch.

• Brand building (logo, colors, gym name , gym slogans)
• Building your own website or app (Here you can check how to create a fitness app )
• Selling training sessions or booking online from your own website (as the main way of selling online)
• Launching a loyalty program
• Will you run social media?
• Will you be implementing gym SEO (Search Engine Optimization)?
• Will you add a business listing on Google Maps?
• Will you run email and SMS campaigns, and if so, how often? How will you build your subscriber base? 
• Will you be blogging?
• Will you be running a gym newsletter ?
• Will you be doing paid Google Ads and Facebook Ads?
• Will you be offering promotions? If so, what types?

Gym Marketing Tools

Create image of your gym with ease.

Increase your customers’ satisfaction by using the WodGuru gym CRM system, no expertise required. Sign up for free!

8. Description of the vision for further development of the gym

Determining the direction of development is very important at the beginning of your business. When setting gym goals you want to achieve in a certain time, you should start with the wider ones, reaching those at the everyday level. It is also worth considering how you want to achieve these goals.

During project execution you need to observe and adapt initial goals. It enables effective management and reduces losses in marketing, service, and other areas. Your gym’s written plan should clearly outline the vision and strategies to achieve desired objectives.

Sample gym business plan

We created a sample gym business plan to help you write your plan. Click below to download an example of a business plan for a gym.

Download: Free gym Business Plan Template

Online Booking System

Let the customers book classes and trainings online

Set up a gym booking software for your website in minutes. Boost revenue while saving time.

Key Takeaways

• The business plan describes what your gym will look like.
• A business plan consists of 10 different elements.
• Create a business plan even if you already run a gym.
• Do not outsource writing a business plan to external companies. It is better to ask an experienced trainer or an external company as a consultant for your ideas.
• Go back to the business plan once a month if you are starting and once a year if you have been operating for several years.
• A business plan is not an artificial document you write once and forget. It is a living document that teaches you how to run a business.

Frequently Asked Questions (FAQ)

How to write small gym business plans.

Regardless of the size of the gym or business, the steps of gym business planning remain the same. Writing this document for a small gym consists of creating:

• Executive summary, 
• Gym description, 
• Market analysis, 
• Investment plan, 
• Financial projections, 
• Team, 
• Marketing plan,
• Company development description

Does every gym need a business plan?

In our opinion, yes. If you are serious about putting your place in the whole fitness industry, you must implement a repetitive method of working “on the company”. A BP that is updated regularly every month and year is a way to run a business.

How to open a gym without money?

Opening a gym with no money can be challenging, but it’s not impossible. Here are some ways to open a gym without enough funds:

• Rethink the concept of your gym.
• Look for gym investors or alternative funding sources.
• Start your online business to get first customers.
• Consider working with other companies.
• Start a smaller business by offering training sessions on demand and develop your brand.

Discover more ideas on how to open a gym with no money.

How to promote gyms?

Promoting a gym is key to attracting new guests, increasing sales and retaining regular customers. A few steps to help you promote your gym:

• Create a professional website with a website creator like WodGuru.
• Take care of social media by posting regularly and encouraging interaction.
• Add your gym to popular sites.
• Organize contests and promotions.
• Collaborate with influencers.
• Organize events such as health promoting, competitions or concerts.
• Use paid ads such as Google Ads or Facebook Ads.
• Collect gym feedback from satisfied customers.

Check these gym promotion ideas for inspiration.

How much profit does the gym make?

A gym’s profit depends on many factors, such as location, offer, prices, service quality, and business size. The average gym profit margin is between 10 and 15% per year, but it can vary significantly depending on the factors mentioned above.

Franchise gym profits on the lower end of 10%, boutique fitness studios averaging 20% to even 40% profit margins, and CrossFit gym profit margins in the 25-30% range.

What makes a gym business plan important?

A gym business plan is crucial for several reasons:

• It helps clarify the vision and goals of the gym.
• It provides a roadmap for the business.
• It includes financial projections, budgeting, and funding strategies for securing investors or loans.
• It identifies potential risks and challenges, allowing the business to address them proactively.
• It serves as a reference point for decision-making, helping the management team focus on the business’s objectives.
• It can be used to communicate the business idea effectively to stakeholders, including investors, partners, and employees.

Related Articles

How to Write a Pilates Studio Business Plan (Step-by-Step Guide + Free Template)

How to Write a Martial Arts Business Plan (Step-by-Step Guide + Free Template)

How to Write a Dance Studio Business Plan (Step-by-Step Guide + Free Template)

How to Write a Yoga Studio Business Plan (Step-by-Step Guide + Free Template)

Download free Ebook: Booking classes optimizer

• Never miss any messages from clients again
• Boost the number of bookings for your gym’s classes
• Regain loads of time you spend managing bookings manually every day

More from Wod Guru

Opening a gym, 20+ types of gyms (guide for gym owner with examples), gym revenue, how much do gym owners make in 2024, how much does it cost to open a gym in 2024, we will send the materials to your email.

*Only for gym owners!

Email seems not valid!

Success! Check your email. 📩👍

• Sample Business Plans
• Beauty Salon & Fitness

Gym Business Plan

Is exercise or fitness your passion? Or do you have a good understanding of gym equipment and workout routines?

If yes, you might have considered having your own gym at some point. After all, who doesn’t want to turn their passion into a profession?

And guess what! Just like you wouldn’t hit the gym without a workout plan, starting your own gym demands a comprehensive gym business plan!

If you’re seeking investors to kickstart a new fitness center or aiming to expand an existing gym business, a modern business plan is an essential tool.

A well-written gym business plan will help you pay attention to every detail, and support your entrepreneurial journey to make the best strategies for a profitable business.

But before diving right into the detailed gym business plan; let’s check out some interesting facts about the fitness industry.

Fitness Industry Outlook

• The growing enthusiasm for fitness and the desire for a healthy lifestyle has led to the demand for gyms. As of now, 39% of Americans have gym memberships.
• The fitness industry has been booming in recent years, and it is expected to have 230 million members by 2030 .
• The Health and fitness market revenue is estimated to grow at a rate of 11.52% annually, reaching a market volume of US$2.32 billion by 2027.
• The fitness industry is expected to increase its revenue by 172% from 2021 to 2028 – reaching $435 billion.
• From 2011 to 2019, the revenue for gyms and health centers in the United States consistently increased each year.
• Recently, the United States led the world in gym industry revenue and is expected to add 15.6 million more members by 2030.

Now that you know the fitness industry outlook, it’s time to explore all the key components you will need to include in your professional gym business plan outline:

Key Components of a Gym Business Plan (w/ Examples)

• Executive Summary
• Company Overview
• Industry and Customer Analysis
• Competitor Analysis
• Service Offerings
• Marketing Strategy
• Management Team
• Operations Plan
• Financial Plan

1. Executive Summary

The executive summary is the first and foremost section of the business plan. Generally, it is a quick overview of your entire gym business plan.

It should be clear, concise, and engaging as it will create your first impression and draw readers to delve further into your plan.

You can start this section with a brief introduction to your gym business and discuss the following key elements:

• Market Opportunity
• Vision & mission statement
• Target market
• Your products and services
• Marketing strategy
• Management team
• Financial Outlook

After that, end your summary with a clear call to action to invite potential investors or readers to the next meeting.

Say goodbye to boring templates

Build your business plan faster and easier with AI

Plans starting from $7/month

2. Company Overview

The company overview section provides a more detailed description of your gym business.

It includes the legal structure, location, ownership, critical success factors, business history, and everything about your business.

First, provide the basic details of your gym including what is the name and what type of gym you are operating.

Mention the names of your gym owners/partners along with the qualifications. You can also include the business history(if any) and milestones you have achieved.

After that, describe your business goals to convey a high level of aspirations and vision that you want to achieve. Here is an example, describing the business goals and objectives:

Setting future business goals for a gym is a crucial step in outlining a clear path to achieve success and growth. The Stayfit Company’s goals and objectives include;

• Increase the client base by 100 customers within the first year of operation.
• Relocating to a large and more appropriate location facility by the first year of operation.
• Expand service offerings to provide a comprehensive fitness experience.
• Establish partnerships and increase brand visibility to become a recognized fitness brand in the community.
• Increase total memberships to 500 within 5 years.

Remember, this section gives an in-depth understanding of your business and business owners. So, make it clear and intriguing.

3. Industry and Customer Analysis

In the industry and customer analysis section of your gym business plan, it’s necessary to offer a comprehensive overview of the fitness industry and target market.

This section gives you a deep understanding of your industry and target customer attributes which will help you in business planning.

Here are some questions that will help you in the analysis:

• What is the current market size of the fitness industry in terms of revenue?
• What are the current trends in the gym business?
• Who are the target audience, and which customer segment do you wish to serve?
• What is the growth forecast for the gym business?

For example, look at this market segment and target market of the gym business with the help of Upmetrics:

As a gym owner, you can target the following customer profiles:

• Blue-collar employees (factories, warehouses, service industry)
• White-collar individuals(corporate or government employees)
• High school & college students
• Military members and their families
• Athletes who often train for fitness competitions

In short, a thorough industry analysis will educate you about the local market and help you prepare marketing strategies according to the market trends.

4. Competitor Analysis

This competitor analysis will help you understand the top competitors and identify the strong points of their service offerings.

As a gym business, you should make a list of the number of gyms or other fitness businesses operating in your locality, their size, and their customer base. Try to specify who are your direct and indirect competitors.

• Direct competitors can be other local gyms
• Indirect competitors can be another type of gym or fitness center, or health club in your area.

Now, let’s focus on your direct competitors and provide an overview of each competitor, including their size and where they’re based. Evaluate their strengths and weaknesses including their service offerings and pricing structures.

Refer below example; showing competitor analysis description:

A better way to conduct this analysis is by noticing things from a customer’s perspective. You might even ask your competitors’ clients what they like or dislike about them to get valuable insights.

This way you can understand what makes your competitors successful and what gaps you can fill. Also, consider the unique selling proposition of your gym business.

Specify your tactics to stay ahead in the competitive landscape and make all the difference in the local gym market.

5. Service Offerings

Next, specify the scope of your service offerings and elucidate how they meet the diverse needs of your clientele.

This section must be informative, precise, and client-focused, as it is a detailed breakdown of what your fitness business offers your customers.

You can include a comprehensive suite of services encompassing types of membership options, available exercise equipment, personal training sessions, group fitness classes, or nutritional counseling.

Here, you can take a reference from the below example written using Upmetrics AI Assistant :

Also, detail any membership fees or pricing plans in this section to add or revise services. Mention if your gym provides any additional services, like physical therapy, massage therapy, recovery modalities, etc.

6. Marketing Strategy

Writing the sales and marketing plan section means jotting down all the customer acquisition strategies and the tactics for how to retain them.

You can consider the following marketing approaches to gaining and keeping customers for your new gym business:

Unique Selling Proposition

Define your gym’s USPs depending on the market you serve, the gym equipment you use, and the unique services you provide. Highlight certified gym trainers, specialty programs, and regular community events.

Social media marketing

Use social media platforms to attract more users. Create engaging content and entice your audience with inspirational posts and special offers. Connect with your customers digitally as well as in the gym.

Establish a professional website and brand symbol (gym’s logo) to reach a wider audience. Showcase all your service offerings and build trust among potential customers.

Loyalty plans

Consider loyalty plans to retain existing gym members and encourage long-term commitment. Create membership tiers or referral programs to offer discounts or additional benefits.

Collaborations

Partner with local businesses (health food stores, fitness centers, or clothing brands), and fitness influencers to cross-promote services or offer collaborative discounts. That can expand your gym’s reach and draw a broader audience.

Offline advertising

Traditional offline marketing can still be effective in engaging with your local community. Clearly state your advertising strategies, including open bulletin boards, print marketing, flier distributions, or community events. For instance,

Consider following offline advertising strategies to reach specific demographics:

• Local Print Media: Advertise in local newspapers, magazines, or community newsletters to target residents in your area.
• Flier Distribution: Distribute flyers or brochures in strategic locations such as community centers, local cafes, or residential areas to raise awareness about your gym.
• Community Events: Sponsor or participate in community events, fairs, or health expos. This not only promotes your gym but also allows for direct interaction with potential members.

Pricing strategy

Try to develop detailed strategies, like offering special introductory discounts, free trials, seasonal promotions, or membership packages with additional services to attract and retain members.

7. Management Team

A strong management team is essential to showcase your gym’s ability to thrive in the industry. This management team section emphasizes the key members who can help grow your fitness business.

You can highlight your key managers, fitness experts, personal trainers, or nutritionists. Also, explain each member’s expertise and roles.

Also, discuss the compensation plan in this section, along with their salaries, incentives, and other benefits. For instance,

8. Operations Plan

This operations plan is like a map that shows how you will make your business work.

It provides detailed insights into the day-to-day operations of your gym and highlights key areas such as staffing and operational processes.

Consider adding below essential components to your operational plan:

Try to mention the number of trainers, support staff, and therapists needed. Briefly outline the duties they will perform and detail their qualifications & training required.

Operational Process

Summarize the processes and techniques you will use to run your gym. Your operational process section may include hosting fitness classes, assigning trainers, scheduling the group HIIT classes, billing, training staff, etc.

Equipment & Machinery

You can include the list of gym equipment and machinery required for the gym, such as strength training equipment, pull-up bars, cardio equipment, free weights/dumbbells, and aerobic equipment.

Refer to the below example written using our AI assistant:

9. Financial Plan

Presently, you are in the business planning phase, but devoting some time to putting together the most realistic financial projections is also crucial when you start seeking funding from investors.

It is a detailed blueprint of all the cash flow and revenue streams, initial startup costs for setting up your gym and equipment, profit margins, and operational costs.

So, mention all the below elements in your gym business plan outline:

• Profit and loss statement
• Cash flow statement
• Balance sheet
• Break-even analysis
• Business ratios
• Exit strategy

This financial forecast has a substantial value in terms of whether you secure funding or not. And evaluate the funding resources, including bank loans, SBA-guaranteed loans, crowdfunding, or personal savings.

Here’s an example of a projected P&L statement for a gym financial plan with the help of Upmetrics:

Download Free Gym Business Plan PDF

Need help writing your gym business plan from scratch? Well, here you go; download our free gym business plan pdf now and start writing.

This modern, user-friendly business plan template is specifically designed for your gym business.

With a step-by-step guide and example, it helps you write a solid gym business plan without missing any crucial steps.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

Start Drafting Your Plan with Upmetrics

With Upmetrics, you will get easy-to-follow steps, 400+ sample business plans, and AI support to streamline your business planning approach.

Our financial forecasting tool will help you develop accurate financial forecasts for 3 or more years if you’re not great with financial formulas.

Whether you’re venturing into a new business or aiming for expansion, Upmetrics provides valuable resources and insights to build successful and professional business plans that perfectly align with your objectives.

So, don’t wait; start planning now !

Related Posts

CrossFit Gym Business Plan

Personal Trainer Business Plan

Health Coaching Business Plan

Sample Business Plans Template

Small Business Plan Writers

ChatGPT for Writing a Business Plan

Frequently asked questions, where can i find examples of successful gym business plans.

There are various online platforms where you can find sample business plan templates. Consider reputable sources like Upmetrics , which offers a successful gym business plan template for your specific needs.

What should I include in my gym business plan?

You should include the following key elements in your gym business plan:

• Executive summary
• Company overview
• Industry and market analysis
• Customer Analysis
• Competitor analysis
• Service offerings
• Marketing Plan
• Operations plan
• Financial plan

What are important gym location factors to consider when writing a business plan?

While writing a business plan, consider the following gym location factors:

• Easy accessibility and high visibility area
• Assess the availability of sufficient parking space
• Check and comply with local zoning laws and regulations
• Analyze the local demographics to align with the target market
• Evaluate the proximity of competitors

How often should I update my gym business plan?

It is very necessary to regularly update your gym business plan, especially in dynamic industries like gym & fitness. Consider updating it at least once a year or more often if there are significant changes in your business.

What are the common mistakes to avoid in a gym business plan?

Following are some of the most common mistakes you should consider avoiding when writing a gym business plan.

• Ignoring thorough market research
• Overestimating financial projections
• Neglecting competitors analysis
• Overlooking marketing strategy

About the Author

Vinay Kevadiya

Vinay Kevadiya is the founder and CEO of Upmetrics, the #1 business planning software. His ultimate goal with Upmetrics is to revolutionize how entrepreneurs create, manage, and execute their business plans. He enjoys sharing his insights on business planning and other relevant topics through his articles and blog posts. Read more

Plan your business in the shortest time possible

No Risk – Cancel at Any Time – 15 Day Money Back Guarantee

Create a great Business Plan with great price.

• 400+ Business plan templates & examples
• AI Assistance & step by step guidance
• 4.8 Star rating on Trustpilot

Streamline your business planning process with Upmetrics .