Personal Training Business Plan Template [Updated 2024]

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Personal Training Business Plan Template

If you want to start a Personal Training business or expand your existing personal trainer business, you need a business plan.

Fortunately, you’re in the right place. Our team has helped develop over 100,000 business plans over the past 20 years, including thousands of personal training business plans.

The following personal training business plan template and example gives you the key elements you must include in your plan. In our experience speaking with lenders and investors, the template is organized in the precise format they want.

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

Example Business Plan For Personal Training Businesses

I. Executive Summary

Business Overview

[Company Name], is a personal fitness training business that provides local residents in [Location] with a variety of workout routines and personal training programs that include HIIT, circuit, yoga and group fitness classes. Our personal training programs are unique and specifically curated for your specific needs. The expert trainers craft custom programs based on your current health status, diet, fitness goals and sleeping patterns when creating your routine.

Products Served

[Company Name] will provide services for both men and women, over the age of 18. Services will include customizable personal training programs, daily workouts, weekly, monthly, quarterly, or yearly fitness programs, group events, and nutrition/diet.

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 nine mile radius of our location. The demographics of these customers are as follows:

  • 23,225 residents
  • Average income of $70,500
  • 41.9% married
  • 58.1% in Mgt./Professional occupations
  • Median age: 27 years

In addition to this prime local demographic, there are also two universities in the area. College students will also be a key market for the company.

Management Team

[Company Name] is led by [Founder’s Name] who has been in the fitness industry for 15 years. While [Founder] has never run a gym himself, he has been a fitness instructor at a young age and spent most of his adult life working in gyms and fitness centers. 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:

  • Our location is in a high-volume area with easy access from multiple residential and commercial district areas.
  • The management team has a track record of success in personal training services
  • Offering personal training is a proven business and has succeeded in different communities throughout the United States.
  • Local competitors leave a large gap in the market—there are low-cost providers ($15-25/month), and high-end options ($120+/month), but nothing in between.

Financial Highlights

[Company Name] is currently seeking $350,000 to launch. This will be used towards property acquisition, renovations and repairs, and along with some important equipment. There are also several fees needed to be covered in regards to legal and professional services, website development, and business licenses. The remaining funds will be used to cover the first three months of operating costs.

financial-highlights-personal-training


II. Company Overview

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

Who is [Company Name]?

[Company Name], is a personal fitness training business that provides local residents in [Location] with a variety of workout routines and personal training programs that include HIIT, circuit, yoga and group fitness classes. Our personal training programs are unique and specifically curated for your specific needs. The expert trainers craft custom programs based on your current health status, diet, fitness goals and sleeping patterns when creating your routine.

[Company Name] was founded by [Founder’s Name]. [Founder’s Name] has been in the fitness business for over 10 years. She/He has been a coach and trainer in [insert gym name/s] for over 5 years. During these years, she/he realised that people who trained with a personal trainer showed more promising results than those who went to the gym and worked out on their own.

[Founder’s Name] has seen the lack of personal training options in her community and wanted to be a solution for it. Finally, in [month, year] he/she finally decided to start a company that offers professional, personal training that does not only manage people’s workout routines, but also their basic health practices.

[Company Name]’s History

After surveying the local customer base, and finding a potential retail location, [Founder’s Name] incorporated [Company Name] as an S-Corporation on [date of incorporation].

Currently, the business is being run out of [Founder’s Name] home office, but once the lease on [Company Name]’s location is finalized, all operations will be run from there.

Since incorporation, the Company has achieved the following milestones:

  • Found a commercial space and signed Letter of Intent to lease it
  • Developed the company’s name, logo, social media accounts, and website located at [website]
  • Determined equipment and fixture requirements
  • Began recruiting key employees with previous fitness experience

[Company Name]’s Products/Services

Below are [Company Name]’s initial service offerings:

  • One on One Coaching: Clients can choose between weekly, monthly, quarterly, or yearly programs. The training will not only focus on daily workout routines, but will also include a meal plan and sleep requirements.
  • Group Training: [Company Name] conducts group fitness trainings. From company fitness days, to a group of friends wanting to be fit together, we can provide a personalized routine for your group. The company also offers an advanced group training session for individuals who might want to train more with other people.
  • Coaching Training: This is a program for aspiring coaches and personal trainers where they will learn the basics on how to curate workout plans, how to make good personalized workout routines and meal plans and how to build positive relationships with your clients.


III. Industry Analysis

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

Rising interest in personal fitness has resulted in strong demand for the industry’s services and thus, the Personal Trainers industry has experienced steady growth over the past five years. Further, as per capita disposable income has increased and the unemployment rate has fallen, demand for personal trainers has steadily grown.

Moreover, the percentage of Americans who are overweight or obese is expected to increase over the next five years, fostering greater demand for industry services. Employment growth will likely be robust during the period as well, heightening competition between existing operators in attracting customers. In response, industry participants are expected to offer specialized services to differentiate themselves, such as nutrition and rehabilitative training.


IV. Customer Analysis

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

Demographic Profile of Target Market

[Company Name] will serve the residents of [company location] and its surrounding areas. The main target of this business is the working professionals and the young adults of the community. The company would also reach some of the local companies to get them into group coaching and fitness.

The area we serve is populated mostly by the upper-middle class; as a result, they have the means to pay for personal trainers. The precise demographics of the town in which our location resides is as follows:

WilmetteWinnetka
Total Population26,09710,725
Square Miles6.893.96
Population Density3,789.202,710.80
Population Male48.04%48.84%
Population Female51.96%51.16%
Target Population by Age Group
Age 18-243.68%3.52%
Age 25-345.22%4.50%
Age 35-4413.80%13.91%
Age 45-5418.09%18.22%
Target Population by Income
Income $50,000 to $74,99911.16%6.00%
Income $75,000 to $99,99910.91%4.41%
Income $100,000 to $124,9999.07%6.40%
Income $125,000 to $149,9999.95%8.02%
Income $150,000 to $199,99912.20%11.11%
Income $200,000 and Over32.48%54.99%

Customer Segmentation

The Company will primarily target the following three customer segments:

  • Professionals: [Company name] is located along a well-traveled commute route. By offering convenient location and exceptional service, [Company name] will draw in working men and women who want to stay fit.
  • Students: There are multiple colleges, universities, and high schools located in the surrounding area. These students will be a key for the [Company]
  • Companies: A lot of companies are investing in their employees’ health. These companies can hire our services on corporate fitness days.


V. Competitive Analysis

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

Direct & Indirect Competitors

Sky High Personal Training
Sky High Personal Training is a Personal Training Studio, offering Small Group Fitness, results oriented personalized training in a small community fitness studio. Trainers / coaches work with each client to customize a fitness and nutritional program designed to reach their goals. Their offerings include: Group fitness Classes, Custom fitness program design and training, Nutrition guidance and One on one private studio training sessions.

Prime Fitness
Founded in 2003, Prime Fitness is a 4-location, boutique, full service fitness club with a strong emphasis on one-on-one and team training fitness programs. They offer spinning, group fitness classes, buddy training, outdoor training, team training and one-on-one training. They also nutritional consulting and accountability coaching.

Fitness Energy
Established in 2019, Fitness Energy offers a variety of tailored, small group classes focused on performance and injury prevention. Its classes are curated with the outdoor active mountain lifestyle in mind. Classes include HIIT, strength and conditioning, boot camp, and cycling. In addition, the gym offers open hours, and nutrition programming (complimentary 30-minute consultation).

Competitive Pricing

One-on-One sessionGroup TrainingMembership Fee
Sky High$30/hour$20/hour$300/year
Prime Fitness$45/hour$25/hour$350/year
Fitness Energy$40/hour$30/hour$400/year

Competitive Advantage

[Company Name] has several advantages over its competitors. The following are some of its major advantages:

  • Expert Trainers: [Company Name] only hires the best personal trainers who have excellent interpersonal skills.
  • Location: [Company Name]’s location is in a prime location, giving us access to commuters going to and leaving the train station, local office workers, schools, and city traffic.
  • Great service at an affordable price: The services offered by [Company Name] are similar in quality to its most premium positioned competitor and [Company Name] can offer it at a lesser price.
  • Management: Our management team has years of business and marketing experience that allows us to market to and serve customers in a much more sophisticated manner than our competitors.


VI. Marketing Plan

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

The [Company Name] Brand

The [Company Name] brand will focus on the Company’s unique value proposition:

  • Convenient location
  • Expert personal trainers
  • Personalized and customizable fitness programs
  • Moderate price point
  • Comfortable, customer-focused environment

Promotions Strategy

[Company Name] expects its target market to be individuals working and/or living within a 9-mile radius of its location.The following are [The Company’s] promotions strategy to reach these individuals:

Social Media Ads
Most of the promotional campaigns will be through social media where we can customize the audience that will be able to see it.

Local Publications
[Company name] will announce its opening several weeks in advance through publicity pieces in multiple local newspapers and publications. Advertisements will also run to maintain exposure to relevant markets. Community newspapers, school publications, youth sports programs, and similar channels will be a major promotion effort.

Community Events/Organizations
[Company name] will promote itself by distributing marketing materials and participating in local community events, such as school fairs, local festivals, homeowner associations, or sporting events.

Commute Advertising
[Company name] will hire workers to hold signs alongside [route or highway]. Advertising on heavily traveled commute routes are an opportunity to alert large numbers of working individuals with disposable income of our opening.

Ongoing Customer Communications
[Company Name] will maintain a website and publish a monthly email newsletter to tell customers about new events, products and more.

Publication Materials/Noticeboards
Posters and flyers will be posted in public notice boards. To target a more specific audience, [company Name] will also contact companies for permission to handout flyers in their vicinity.


VII. Operations Plan

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

Functional Roles

[Company name] will carry out its day-to-day operations primarily on membership and appointment basis. All classes and personal training sessions will be scheduled in advance, no walk-in appointments will be granted.

The company needs to perform several functions to fulfill and fully execute its business model. [Company name] anticipates using the services of X employees, divided into the following roles:

Service Functions

  • Personal Trainers
  • Dietician
  • Sales/membership manager

Administrative Functions

  • General & administrative functions including legal, marketing, bookkeeping, etc.
  • Hiring and training staff
  • Customer service/front desk functions

Milestones

[Company name]’s long term goal is to become the most sought for personal training services in the [city] area. We seek to the standard by which other providers are judged.

The following are a series of steps that lead to our vision of long-term success. [Company Name] expects to achieve the following milestones in the following [xyz] months:

DateMilestone
[Date 1]Finalize lease agreement
[Date 2]Design and build out [Company Name]
[Date 3]Hire and train initial staff
[Date 4]Kickoff of promotional campaign
[Date 5]Launch [Company Name]
[Date 6]Reach break-even


VIII. Management Team

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

Management Team Members

[Company Name ] is led by [Founder’s Name] who has been in the fitness industry for 15 years. [Founder] is a seasoned personal trainer with experience across fitness verticals. He began his career in [19xx] when he received a certification from [School] and began work at [major gym], where he worked for X years.

He/she graduated from the University of XXX where he majored in Physical Education. He/she has also gained accreditation to become a nutritionist dietician in [year].

Hiring Plan

[Founder] will serve as the general manager. In order to launch, we need to hire the following personnel:

  • Personal Trainers (3 to start)
  • Receptionist/Front desk (1 to start)
  • Dietician (1)
  • Maintenance Personnel


IX. Financial Plan

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

Revenue and Cost Drivers

[Company Name]’s revenues will primarily be driven through client growth. There will be other initiatives to increase sales as shown below:

  • Packaged Offerings
  • Online Training Sessions
  • Nutritionist
  • Events

The Company’s largest direct cost will be paying its trainers. [Company Name] will focus on bringing experienced and enthusiastic personnel, and thus, will be paying them a large piece of each sale from each class. While trainers’ wage cut will be determined by experience, the Company expects to pay an average of 40 percent of the sales that come in for each class

Other major cost drivers for the company’s operation will consist of lease and marketing expenditures.

Capital Requirements and Use of Funds

[Company Name] is currently seeking $350,000 to launch. This will be used towards property acquisition, renovations and repairs, and along with some important equipment. There are also several fees needed to be covered in regards to legal and professional services, website development, and business licenses. The remaining funds will be used to cover the first three months of operating costs.

Key Assumptions

The following table reflects the key revenue and cost assumptions made in the financial model:

YearOnline TrainingNutritionistEventsMerchandiseTotal Revenue
Year 1$0$1,200 $1,600 $2,400 $5,200
Year 2$773$1,200 $1,600 $2,400 $5,973
Year 3$2,630 $1,200 $1,600 $2,400 $7,830
Year 4$4,235 $1,200 $1,600 $2,400 $9,435
Year 5$5,373 $1,200 $1,600 $2,400 $10,573

5 Year Annual Income Statement

Year 1Year 2Year 3Year 4Year 5
Revenues
Product/Service A$151,200 $333,396 $367,569 $405,245 $446,783
Product/Service B$100,800 $222,264 $245,046 $270,163 $297,855
Total Revenues$252,000 $555,660 $612,615 $675,408 $744,638
Expenses & Costs
Cost of goods sold$57,960 $122,245 $122,523 $128,328 $134,035
Lease$60,000 $61,500 $63,038 $64,613 $66,229
Marketing$20,000 $25,000 $25,000 $25,000 $25,000
Salaries$133,890 $204,030 $224,943 $236,190 $248,000
Other Expenses$3,500 $4,000 $4,500 $5,000 $5,500
Total Expenses & Costs$271,850 $412,775 $435,504 $454,131 $473,263
EBITDA($19,850)$142,885 $177,112 $221,277 $271,374
Depreciation$36,960 $36,960 $36,960 $36,960 $36,960
EBIT($56,810)$105,925 $140,152 $184,317 $234,414
Interest$23,621 $20,668 $17,716 $14,763 $11,810
PRETAX INCOME($80,431)$85,257 $122,436 $169,554 $222,604
Net Operating Loss($80,431)($80,431)$0$0$0
Income Tax Expense$0$1,689 $42,853 $59,344 $77,911
NET INCOME($80,431)$83,568 $79,583 $110,210 $144,693
Net Profit Margin (%)-15.00%13.00%16.30%19.40%

5 Year Annual Balance Sheet

Year 1Year 2Year 3Year 4Year 5
ASSETS
Cash$16,710 $90,188 $158,957 $258,570 $392,389
Accounts receivable$0$0$0$0$0
Inventory$21,000 $23,153 $25,526 $28,142 $31,027
Total Current Assets$37,710 $113,340 $184,482 $286,712 $423,416
Fixed assets$246,450 $246,450 $246,450 $246,450 $246,450
Depreciation$36,960 $73,920 $110,880 $147,840 $184,800
Net fixed assets$209,490 $172,530 $135,570 $98,610 $61,650
TOTAL ASSETS$247,200 $285,870 $320,052 $385,322 $485,066
LIABILITIES & EQUITY
Debt$317,971 $272,546 $227,122 $181,698 $136,273
Accounts payable$9,660 $10,187 $10,210 $10,694 $11,170
Total Liabilities$327,631 $282,733 $237,332 $192,391 $147,443
Share Capital$0$0$0$0$0
Retained earnings($80,431)$3,137 $82,720 $192,930 $337,623
Total Equity($80,431)$3,137 $82,720 $192,930 $337,623
TOTAL LIABILITIES & EQUITY$247,200 $285,870 $320,052 $385,322 $485,066

5 Year Annual Cash Flow Statement

Year 1Year 2Year 3Year 4Year 5
CASH FLOW FROM OPERATIONS
Net Income (Loss)($80,431)$83,568 $79,583 $110,210 $144,693
Change in working capital($11,340)($1,625)($2,350)($2,133)($2,409)
Depreciation$36,960 $36,960 $36,960 $36,960 $36,960
Net Cash Flow from Operations($54,811)$118,902 $114,193 $145,037 $179,244
CASH FLOW FROM INVESTMENTS
Investment($246,450)$0$0$0$0
Net Cash Flow from Investments($246,450)$0$0$0$0
CASH FLOW FROM FINANCING
Cash from equity$0$0$0$0$0
Cash from debt$317,971 ($45,424)($45,424)($45,424)($45,424)
Net Cash Flow from Financing$317,971 ($45,424)($45,424)($45,424)($45,424)
SUMMARY
Net Cash Flow$16,710 $73,478 $68,769 $99,613 $133,819
Cash at Beginning of Period$0$16,710 $90,188 $158,957 $258,570
Cash at End of Period$16,710 $90,188 $158,957 $258,570 $392,389

 

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