The other half is split between nonprofit centers like a YMCA. So are you ready to jump in and start your own gym? Before you invest your life savings, make sure you understand your financial projections and what it will take to breakeven. For many startup gyms the journey to breakeven does not happen overnight.
Supplements are also discussed and provided each class so there is no need to worry about running out or forgetting to buy more.
We all have different agendas and different responsibilities and therefore our free time varies. With this in mind our classes are extremely flexible. All ages are welcome, all genders are welcome, all fitness levels, all strength levels, all religions; everyone is welcome and will receive the same level of support and encouragement.
Swot analysis of gym business dietitians are able to cater to all nationalities regardless of their traditions, ie no red meat, Jewish Passover, Muslim Ramadan etc. We understand that not everyone can dedicate themselves to a specific area at a specific time for group sessions so the individual option is there to cater for people these people.
There are also different personal preferences between individuals. Some may enjoy group sessions, where others may prefer a one on one session.
People usually find themselves to be more committed when the environment is one in which they feel comfortable and can gain the most reward. This allows for more streams of income resulting in a larger profit than that of a single streamed income. This profile includes their weight, height, age, BMI, muscle density, body measurements, fitness levels, goals and so forth.
Each week these records are updated and are available to be viewed online by the individual. By eliminating the need for a separate premise to conduct classes, start costs are drastically reduced. Start up costs are also lowered due to the low quantity of equipment required as sessions are composed of many different stations that people move to and from.
By having low start up cost allows for almost instantaneous commencement of service and allows for a higher advertising budget. This eliminates the need for clients to seek information or guidance outside of their sessions and means that they get the very best information to suit their individual needs.
Every session gives clients the opportunity to discuss any problems are areas of concern giving them confidence in their trainer and their decision to attend sessions. People who are committed to seeking a healthier lifestyle do not choose to only exercise during specific seasons or periods of the year.
With this in mind Inner Edge Fitness will not cease its business nor slow it down at any time of year.
By keeping operations continuous we are able to provide a consistent service that allows people to develop a confidence with us and enables them to develop a routine they can stick to. The weakness linked to this particular type of option is that there is no guaranteed revenue.
The revenue generated from one month does not necessarily depict the cash flow for months to follow. While it can give insight as to what can be expected it cannot be a solely reliable source, so group sizes and supplement requirements cannot be easily determined.
In order to overcome this weakness, pay per use plans must not be the focus of the company; instead Memberships must become the focus. While memberships are the preferred method of revenue for the company there will always be customers who cannot or will not dedicate themselves in this way.
Classes and supplements must be of high value and provided results that are noticeable. Support and encouragement from Personal Trainer must be genuine and consistent. We can also look at promoting our services and supplements; by selling a well known and respected product we can attract potential customers and keep existing clients.
People will be more willing to buy our product as opposed to a cheaper alternative if they can relate to our product in some way. As Inner Edge Fitness is a one of a kind company this will bring on competition that did not exist in the beginning and will create a need for Inner Edge Fitness to find ways of competing with a competitor.
Inner Edge Fitness is reliant on one member to manage and run the business whilst also being one of our specialized personal trainers and dietitians.
This can cause a great deal of work for this one staff member and also means they are unable to step back or take time off without causing disruption to daily operations. AS this is not a preferable method of business the best option for Inner Edge Fitness is to train up other staff members so that they are able to take over the responsibilities held by the manager should it be required.
The Australian Government has taken a massive interest in this area and is doing a great deal to encourage all citizens to take control and start making changes to their lifestyle.
With this focus in place that is a constant reminder to the obese population and those at risk of developing obesity, now is the perfect time for our Personal Trainers to develop a large customer base. Body Builders and those seeking a lighter version of muscle gain are increasingly becoming interested in purchasing these types of goods.
Due to this massive interest in Supplements here in Australia, it is a great opportunity to enter the market as this area has a very high demand.This can allow for increased business and higher exposure which will result in increased revenue.
THREATS Major Gym Companies As a new small sized business we are face with the threat of becoming hidden by the overwhelming amount of larger 24 hour gyms that are appearing all over the place.
Threats Competition with other fitness clubs (Athletic Club, Gold's Gym, YMCA) Economic slowdown Strengths Strong management Numerous amenities Membership has many perks.
A SWOT matrix is usually depicted as a square divided into four quadrants. Each quadrant represents one element of the SWOT analysis -- Strengths, Weaknesses, Opportunities, Threats.
Gym House Business Plan SWOT – Economic Analysis According to the Fitness Industry Analysis, there are 41 million Americans that are members of a health club, and half of those are members at a commercial, for profit facility. Gym House Business Plan SWOT – Economic Analysis According to the Fitness Industry Analysis, there are 41 million Americans that are members of a health club, and half of those are members at a commercial, for profit facility.
Making sound business decisions is important if you want your gym to be successful.
Conducting a SWOT analysis allows you to identify your strengths, target your weaknesses, look for opportunities and target any threats to your fitness facility.