Business Plan

Business Plan

Simple Business Plan Components

  • Executive Summary
  • Snap shot of business
  • Business Description & Vision
  • Mission statement, goals, and objectives
  • Definition of the Market
  • Industry outlook, target market
  • Description of Products and Services
  • Describe products and services
  • Organization & Management
  • How is the company organized
  • Marketing and Sales Strategy
  • Who are your customers, how you going to reach, and promote to them
  • Financial Management
  • Costs of business, projections, assets, and balance sheets

Above is a very brief description of a business plan.  Depending on how big you want your business to be, will determine the extent to which you need to expand it.  A good number of successful trainers have never developed a plan, they just work one becoming a better trainer, excel in the position they are in and are very happy.

Even Simpler Version:

SWAT

  • Strengths – What are you great at?  What sets you apart?
  • Weaknesses – What is holding you back?
  • Assets – What thing do you have going for you? (education, experience, product, etc.)
  • Threats – What are things that potential could hurt you (club closing, injury, economy, etc.)

Business Types

Sole Proprietor

Small one man show

…good or starters

Limited Liability Corporation (LLC)

Small or large but limited taxation but personal assets protected

…good for established trainers with residual income

S Corporation

Fewer than 100 employees generally, board of directors and tax issues, liability with business…Good for single club owners

C Corporation

Similar to S Corporation, but with more regulation on how business is run

…Good for a chain of clubs

Comparison of Business Types

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