Gym Business Plan for the Ambitions of your Business

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The fitness industry has been booming in recent years, as more and more consumers are investing in their health. To start a new, expand your current, or purchase an existing gym, a business plan is of great use. DTC can assist with the development of a sound gym business plan.

Many people are becoming health conscious and participate in various sporting and physical activities to stay fit and feel young. There has been a steady growth in gym memberships over the years due to the growing middle class which has resulted in a growing fitness culture among many South Africans. Mass sporting participation such as jogging have been gaining popularity in many areas in South Africa. Due to the change in people’s attitude towards health and fitness the need for training centres and gyms is increasing. Also, the South African government has been active in trying to deal with obesity and chronic illnesses caused by being overweight. This is because urbanisation and industrialisation have been cited to be one of the causes for lack of natural movement. The fitness industry in South Africa is one of the biggest fitness industries all over the world providing a lot of income and employment opportunities for many.

Highlights of the Gym Sector include:

•In South Africa, gym companies generate over R12.5 billion in revenue every year.

•The market value of the global fitness industry is over $87 billion.

•Between now and 2028, the fitness industry is expected to grow 171.75% to $434.74 billion.

•From now until 2028, the online fitness industry is expected to see a growth of 33.10% per year.

Core elements of a Gym Business Plan include:

•Executive summary: This is an overview of your company and key management, the amount or grant requested and reason thereof, mission, and objectives.

•Management and Staffing Plan: Includes your management team and staff. It describes how your business ownership is structured.

•Services: List the equipment and how they are targeted for weight loss and muscle building.

•Market analysis summary: Provides insights on potential customers and competition. The market analysis analyses the industry your business operates in, as well as, identifies and quantifies the customers you target for sales.

•Strategy and implementation summary: Includes information on your company’s competitive edge and sales forecast.

•Financial plan: Includes the investments you will need to make and how you plan to finance them. This allows you to determine whether your business or business idea is viable.

•Financial projections: Eight documents namely the management account, income statement, balance sheet, cash flow, cash forecast, break even analysis, loan amortisation schedule, and fixed asset schedule including ratios, graphs, and calculations.

•Annexures: Statutory information needed by funders in an application. This includes company documents, management ID’s, tax returns, and other relevant documentation.

gym business plan

At Dream Team Capital, we understand the complexities of the criteria and requirements for a detailed and specified business plan. Our developments have been used to secure funding, secure non-repayable business grants, in managing the business, as well as, creating a vision for businesses. If using the document to raise funding and/or non-repayable business grants, we guide you through the process and provide access to our expansive network of funders from across South Africa.

For more information & assistance do not hesitate to Contact us