Gym Business Plan Template [Updated 2024]

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I. Executive Summary

You can download our Gym Business Plan Template (including a full, customizable financial model) to your computer here.

Business Overview

[Company Name], located in [insert location here] is a new upscale, trend-setting physical fitness environment. [Company Name] provides local residents with a variety of workout classes, personal training programs, personal trainers, yoga and other experiences. Our gym prides itself not only in having the most state-of-the art work out facilities and Pilates, yoga studios, and other classes that follow the latest trends and proven research in exercise science, but also providing our patrons a well-designed, spacious and attractive gym facility.

Products and Services

[Company Name]will provide services for all ages and both genders. Services will include a variety of fitness equipment, workout classes, personal training programs, yoga and nutrition.

In addition to providing these services, [Company name] will also be a retailer of exclusive fitness products and select food items. Customers will find products at [Company name] that they won’t find in grocery stores or mass retailers.

Customer Focus

[Company Name] will primarily serve the residents within a 5 mile radius of our location. The demographics of these customers are as follows:

  • 27,827 residents
  • Average income of $74,700
  • 58.9% married
  • 49.6% in Mgt./Professional occupations
  • Median age: 38 years

In addition to this prime adult demographic for an gym, there are two large high schools and four middle schools in the area. Students, particularly girls, from these schools will be sure to patronize [Company Name].

Management Team

[Company Name]is led by [Founder’s Name] who has been in the gym and fitness business for 20 years. While [Founder] has never run a gym himself, he has been a fitness instructor since age 15 and spent most of his adult life working in gyms.As such [Founder] has an in-depth knowledge of the gym business including the operations side (e.g., running day-to-day operations) and the business management side (e.g., staffing, marketing, etc.).

Success Factors

[Company Name] is uniquely qualified to succeed due to the following reasons:

  • The Company will fill a specific market niche in the growing community we are entering. In addition, we have surveyed the local population and received extremely positive feedback saying that they explicitly want to frequent our business when launched.
  • Our location is in a high-volume area with easy access from multiple residential and commercial district zones.
  • The management team has a track record of success in the gym and fitness business.
  • The gym business is a proven business and has succeeded in communities throughout the United States.
  • Local competitors leave a large gap in the market—there are low-cost providers ($20-30/month), and an ultra-luxury options ($120+/month), but nothing in between.

Financial Highlights

[Company Name] is currently seeking $200,000 to launch. This will be used towards property acquisition, renovations and repairs, along with equipment. Moreover, there are several fees needed to be covered in regards to legal and professional services, website development, and business licenses. Lastly, the funds will be used to cover the first six months of operating costs.

Topline projections over the next five years are as follows:

Year 1Year 2Year 3Year 4Year 5
Total Revenues$318,975 $525,048 $725,404 $876,376 $1,009,888
Total Direct Cost($131,349)($219,043)($314,522)($388,455)($451,283)
Gross profit$187,626 $306,005 $410,882 $487,921 $558,605
Gross Profit Margin (%)59%58%57%56%55%
Total Other Expenses($132,202)($277,979)($314,990)($347,554)($379,458)
EBITDA$55,424 $28,026 $95,892 $140,367 $179,146
EBIT$49,424 $22,026 $89,892 $134,367 $173,146
Interest Expense-Line of Credit$0$0$0$0$0
Interest Expense-Debt($11,820)($10,923)($9,973)($8,965)($7,897)
Pretax Income$37,604 $11,103 $79,919 $125,402 $165,249
Income Tax Expense($11,710)($3,480)($22,999)($37,621)($49,575)
Net Income$25,894 $7,623 $56,920 $87,781 $115,675
Net profit Margin (%)8%1%8%10%11%
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