Personal Training Business Plan
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We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Personal Training businesses.
Below is a template to help you create each section of your Personal Training business plan.
Executive Summary
Business Overview
Empowered Fitness is a new personal training business located in Atlanta, Georgia. We are committed to helping the residents of Atlanta achieve their fitness goals by providing them personalized one-on-one and group training sessions. All workout plans designed by our trainers are personalized to each client, and utilize their strengths to help them achieve their goals. Whether our clients want to lose weight or get stronger, we will be there to help them every step of the way.
Empowered Fitness is founded and run by Joanna Teller. Joanna has been a personal trainer for several years, but is now eager to expand her business to include a larger clientele and a full staff of personal trainers. Her passion for fitness and experience in the industry will be the company’s most valuable assets.
Product Offering
Empowered Fitness helps its clients achieve their fitness goals. Clients primarily come to us when they need help with losing weight, increasing their stamina, or improving their muscle mass. We serve anyone 18 or older and provide one-on-one training as well as group sessions for groups of up to ten people.
Customer Focus
Empowered Fitness will target all men and women ages 18 – 99 who are interested in achieving and maintaining a healthy and active lifestyle. Atlanta is a very diverse city that includes people from all walks of life. This diverse demographic has numerous fitness and health goals that can be helped by hiring a personal trainer. Therefore, we expect to have a very diverse clientele that includes people from multiple demographics.
Management Team
Empowered Fitness is run by Joanna Teller. Joanna is an experienced personal trainer who has helped hundreds of clients over the past five years. Though she has had a rewarding career as a solo personal trainer, her passion for helping people inspired her to start a larger company where she can hire other personal trainers and expand her clientbase. Her experience in the industry will be a solid foundation for the company to grow and thrive on.
Success Factors
Empowered Fitness will be able to achieve success by offering the following competitive advantages:
- Staff of friendly, passionate, and knowledgeable personal trainers that can help clients achieve a multitude of health and fitness goals.
- Moderate pricing for our excellent personal training services.
- Services at our clients’ convenience. We will meet our clients anywhere they want to work out, including their gym, the park, or their home.
Download the Personal Training business plan template (including a customizable financial model) to your computer here <–
Financial Highlights
Empowered Fitness is seeking $250,000 in debt financing to begin operations of the business. The funding will be dedicated towards building out the office space and purchasing equipment. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, rent, and working capital. The breakout of the funding is below:
- Leasing and building out the office space: $100,000
- Equipment purchase: $50,000
- Three months of overhead expenses (payroll, rent, utilities): $50,000
- Marketing & advertising: $25,000
- Working capital: $25,000
The following graph below outlines the pro forma financial projections for Empowered Fitness.
Company Overview
Who is Empowered Fitness?
Empowered Fitness is a new personal training business that serves the residents of Atlanta, Georgia. We are committed to helping locals reach their fitness goals, whether that be to lose weight or increase their strength. We serve anyone ages 18 -99 and offer both one-on-one and group sessions. No matter what health goals our clients want to achieve, we will be there supporting them every step of the way.
Empowered Fitness helps its clients by providing personalized training sessions. Clients can hire our trainers for hour-long sessions up to multiple times per week. While most clients opt for one-on-one training sessions, we also offer group sessions for up to ten people. All sessions are conducted at the client’s choice of location. We can meet our clients at their favorite gym, park, home, or other convenient location.
Empowered Fitness is run by Joanna Teller, who has considerable experience as a personal trainer. Her prior experience, expertise, and clientbase will provide the solid foundation our company needs to be successful.
Empowered Fitness’ History
After surveying the local customer base, and finding a potential office location, Joanna Teller incorporated Empowered Fitness as an S-Corporation on July 1st, 2023.
Currently, the business is being run out of Joanna’s home office, but once the lease on Empowered Fitness’ 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
- Determined equipment and fixture requirements
- Began recruiting key employees with previous fitness and personal training experience
Empowered Fitness’ Services
Empowered Fitness provides personal training services to the residents of Atlanta, Georgia. These sessions are primarily one-on-one, but we also provide group personal training for groups of up to ten people. We can help our clients with a variety of fitness goals including:
- Weight loss
- Increasing stamina
- Increase strength
Industry Analysis
The Personal Training industry is expected to grow to an annual revenue of $41 billion in 2023 and will grow at a CAGR of 4.6% from now until 2033. This growth is due to several factors. First, the pandemic years encouraged many people to focus on their health, with many people taking up online fitness courses and virtual personal training. Second, the industry is positively affected by the increase in per capita disposable income. Consumers with more disposable income are more likely to spend it on services that improve their health and well-being, such as personal training services. Finally, the overall trend towards health consciousness will indirectly benefit the Personal Training industry as more people will invest in services that improve their health.
During this period, demographic changes are expected to drive revenue growth for operators. Additional revenue streams are also expected to play an integral part in industry growth. In particular, as healthcare costs continue to escalate, health insurance providers may implement incentives to promote preventive health practices, such as partnering with gyms and personal training businesses. Furthermore, the number of obese individuals in the United States has increased in recent years. Consequently, to cut healthcare costs, many health insurance providers will likely attempt to lower an individual’s risk for type 2 diabetes, heart disease and high blood pressure, among other ailments. Additionally, initiatives that promote the health benefits of exercise will likely increase over the next five years, stimulating industry revenue.
Download the Personal Training business plan template (including a customizable financial model) to your computer here <–
Customer Analysis
Demographic Profile of Target Market
Empowered Fitness will target all men and women ages 18 – 99 who are interested in achieving and maintaining a healthy and active lifestyle. Atlanta is a very diverse city that includes people from all walks of life. This diverse demographic has numerous fitness and health goals that can be helped by hiring a personal trainer. Therefore, we expect to have a very diverse clientele that includes people from multiple demographics.
The demographics of Atlanta, Georgia is as follows:
| Total | Percent | |
|---|---|---|
| Total population | 1,680,988 | 100% |
| Male | 838,675 | 49.9% |
| Female | 842,313 | 50.1% |
| 20 to 24 years | 114,872 | 6.8% |
| 25 to 34 years | 273,588 | 16.3% |
| 35 to 44 years | 235,946 | 14.0% |
| 45 to 54 years | 210,256 | 12.5% |
| 55 to 59 years | 105,057 | 6.2% |
| 60 to 64 years | 87,484 | 5.2% |
| 65 to 74 years | 116,878 | 7.0% |
| 75 to 84 years | 52,524 | 3.1% |
Customer Segmentation
Empowered Fitness will primarily target the following customer profiles:
- Athletes
- Individuals who want to lose weight and improve their fitness
- Physical therapy patients
Competitive Analysis
Direct and Indirect Competitors
Empowered Fitness will face competition from other companies with similar business profiles. A description of each competitor company is below.
Sunshine Personal Training
Sunshine Personal Training is a personal training studio that offers personalized one-on-one training sessions. The trainers work with each client to customize a fitness and nutritional program that is designed to reach their goals. Though Sunshine’s trainers can help clients with a variety of goals, the studio primarily promotes its services to people who want to lose weight. Therefore, we expect that Sunshine Personal Training will only be a major competitor for this particular customer segment.
Atlanta Fitness
Atlanta Fitness is a multi-location personal training business that offers personalized training to athletes and fitness junkies. Each location is a fully equipped gym along with dozens of personal trainers that help each client reach their fitness goals. They primarily market to clients who are already working out regularly but just need extra help to reach their peak performance. Therefore, they will only be a competitor for a fraction of our target market, as we are willing to help anyone who has fitness goals, not just athletes.
Steve’s Personal Training Services
Established in 2018, Steve’s Personal Training Services is a small personal training operation run by Steve Miller. Steve worked as a personal trainer for several gym chains but broke off as his own separate business in 2018. Since then, he has helped hundreds of clients get in better shape and achieve their fitness goals. Steve is a popular trainer in the area and markets to the same geographic area as Empowered Fitness. However, Steve’s company is a small operation, so we expect that it will only be a minor competitor.
Download the Personal Training business plan template (including a customizable financial model) to your computer here <–
Competitive Advantage
Empowered Fitness will be able to offer the following advantages over their competition:
- Affordable pricing: Empowered Fitness will offer its services for a more affordable rate than the competition.
- Friendly staff: Empowered Fitness will only hire trainers that are friendly and compassionate. All of our trainers will positively encourage our clients to achieve their goals.
- Convenient services: We will meet our clients wherever they want to work out, whether that be the gym, a park, or at our client’s home.
Marketing Plan
Brand & Value Proposition
Empowered Fitness will offer the unique value proposition to its clientele:
- Dedicated team of trainers.
- Affordable fees.
- Convenient hours of operation.
- Ability to meet clients wherever they want to work out.
Promotions Strategy
The promotions strategy for Empowered Fitness is as follows:
Social Media Marketing Strategy
Empowered Fitness will invest in advertising its services on social media platforms Facebook and Instagram. By using targeted social media marketing, Empowered Fitness will be able to reach the appropriate target audience of Atlanta.
Billboards
Joanna will invest in two billboards strategically located at busy intersections that receive thousands of traffic daily. She will hire an advertising agency to develop the print for the billboard design.
Website/SEO Marketing Strategy
Empowered Fitness will invest in a strong SEO presence so that when someone enters “Atlanta personal trainers” or “personal trainer near me” in their Google or Bing search bar, Empowered Fitness is at the top of the list. Their website will list all of Empowered Fitness’ services, location, pricing, and contact information.
Word of Mouth
Word quickly spreads around town and once a few people work with our amazing trainers at Empowered Fitness, more and more people will want to hire our personal training services.
Pricing
The pricing of Empowered Fitness will be moderate and on par with competitors so customers feel they receive value when purchasing our services.
Operations Plan
The following will be the operations plan for Empowered Fitness.
Operation Functions:
- Joanna Teller will be the Owner of Empowered Fitness. She will handle the general operations of the company as well as provide personal training services to her clients. Joanna will spend the next several months hiring the following staff:
- An Administrative Assistant who will oversee all administrative aspects of running the business. This will include bookkeeping, tax payments, and payroll of the staff. They will also help with scheduling appointments and answering client questions.
- Several trainers who will provide training personal services to clients.
Download the Personal Training business plan template (including a customizable financial model) to your computer here <–
Milestones:
Empowered Fitness will have the following milestones completed in the next six months.
- 8/1/202X – Finalize contract to lease office space.
- 8/15/202X – Begin build-out and design of office space
- 9/1/202X – Hire advertising company to begin developing the company’s branding, logo, social media accounts, website, and billboard design.
- 9/15/202X – Order all equipment.
- 9/30/202X – Launch social media campaign and website. Billboards go up.
- 10/1/202X – Hire and train several personal trainers.
- 11/1/202X – Grand Opening of Empowered Fitness.
Management Team
Empowered Fitness is run by Joanna Teller. Joanna is an experienced personal trainer who has helped hundreds of clients over the past five years. Though she has had a rewarding career as a solo personal trainer, her passion for helping people inspired her to start a larger company where she can hire more personal trainers and expand her clientbase. Her experience in the industry and expertise will be a solid foundation for the company to grow and thrive on.
Though Joanna has never run a company of her own, she has considerable experience in the industry and knows how to run the general operations of a personal training company. As the company grows, she will hire other staff to help her run aspects of the business that she is unfamiliar with.
Financial Plan
Key Revenue & Costs
The revenue drivers for Empowered Fitness are the fees we will charge each client that hires our services.
The cost drivers will be the payroll for the staff, rent, utilities, cleaning supplies, and equipment. In the initial years, the company’s marketing spending will be high, as it establishes itself in the market.
Funding Requirements and Use of Funds
Empowered Fitness is seeking $250,000 in debt financing to begin operations of the business. The funding will be dedicated towards building out the office space and purchasing equipment. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, rent, and working capital. The breakout of the funding is below:
- Leasing and building out the office space: $100,000
- Equipment purchase: $50,000
- Three months of overhead expenses (payroll, rent, utilities): $50,000
- Marketing & advertising: $25,000
- Working capital: $25,000
Download the Personal Training business plan template (including a customizable financial model) to your computer here <–
Key Assumptions
The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and pay off the startup business loan.
- Initial number of clients per month: 20
- Average personal training fees per session: $80
- Office lease per year: $20,000
Financial Projections
Income Statement
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| Revenues | ||||||
| Total Revenues | $360,000 | $793,728 | $875,006 | $964,606 | $1,063,382 | |
| Expenses & Costs | ||||||
| Cost of goods sold | $64,800 | $142,871 | $157,501 | $173,629 | $191,409 | |
| Lease | $50,000 | $51,250 | $52,531 | $53,845 | $55,191 | |
| Marketing | $10,000 | $8,000 | $8,000 | $8,000 | $8,000 | |
| Salaries | $157,015 | $214,030 | $235,968 | $247,766 | $260,155 | |
| Initial expenditure | $10,000 | $0 | $0 | $0 | $0 | |
| Total Expenses & Costs | $291,815 | $416,151 | $454,000 | $483,240 | $514,754 | |
| EBITDA | $68,185 | $377,577 | $421,005 | $481,366 | $548,628 | |
| Depreciation | $27,160 | $27,160 | $27,160 | $27,160 | $27,160 | |
| EBIT | $41,025 | $350,417 | $393,845 | $454,206 | $521,468 | |
| Interest | $23,462 | $20,529 | $17,596 | $14,664 | $11,731 | |
| PRETAX INCOME | $17,563 | $329,888 | $376,249 | $439,543 | $509,737 | |
| Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
| Use of Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
| Taxable Income | $17,563 | $329,888 | $376,249 | $439,543 | $509,737 | |
| Income Tax Expense | $6,147 | $115,461 | $131,687 | $153,840 | $178,408 | |
| NET INCOME | $11,416 | $214,427 | $244,562 | $285,703 | $331,329 |
Balance Sheet
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Cash | $154,257 | $348,760 | $573,195 | $838,550 | $1,149,286 | |
| Accounts receivable | $0 | $0 | $0 | $0 | $0 | |
| Inventory | $30,000 | $33,072 | $36,459 | $40,192 | $44,308 | |
| Total Current Assets | $184,257 | $381,832 | $609,654 | $878,742 | $1,193,594 | |
| Fixed assets | $180,950 | $180,950 | $180,950 | $180,950 | $180,950 | |
| Depreciation | $27,160 | $54,320 | $81,480 | $108,640 | $135,800 | |
| Net fixed assets | $153,790 | $126,630 | $99,470 | $72,310 | $45,150 | |
| TOTAL ASSETS | $338,047 | $508,462 | $709,124 | $951,052 | $1,238,744 | |
| LIABILITIES & EQUITY | ||||||
| Debt | $315,831 | $270,713 | $225,594 | $180,475 | $135,356 | |
| Accounts payable | $10,800 | $11,906 | $13,125 | $14,469 | $15,951 | |
| Total Liability | $326,631 | $282,618 | $238,719 | $194,944 | $151,307 | |
| Share Capital | $0 | $0 | $0 | $0 | $0 | |
| Retained earnings | $11,416 | $225,843 | $470,405 | $756,108 | $1,087,437 | |
| Total Equity | $11,416 | $225,843 | $470,405 | $756,108 | $1,087,437 | |
| TOTAL LIABILITIES & EQUITY | $338,047 | $508,462 | $709,124 | $951,052 | $1,238,744 |
Cash Flow Statement
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| CASH FLOW FROM OPERATIONS | ||||||
| Net Income (Loss) | $11,416 | $214,427 | $244,562 | $285,703 | $331,329 | |
| Change in working capital | ($19,200) | ($1,966) | ($2,167) | ($2,389) | ($2,634) | |
| Depreciation | $27,160 | $27,160 | $27,160 | $27,160 | $27,160 | |
| Net Cash Flow from Operations | $19,376 | $239,621 | $269,554 | $310,473 | $355,855 | |
| CASH FLOW FROM INVESTMENTS | ||||||
| Investment | ($180,950) | $0 | $0 | $0 | $0 | |
| Net Cash Flow from Investments | ($180,950) | $0 | $0 | $0 | $0 | |
| CASH FLOW FROM FINANCING | ||||||
| Cash from equity | $0 | $0 | $0 | $0 | $0 | |
| Cash from debt | $315,831 | ($45,119) | ($45,119) | ($45,119) | ($45,119) | |
| Net Cash Flow from Financing | $315,831 | ($45,119) | ($45,119) | ($45,119) | ($45,119) | |
| Net Cash Flow | $154,257 | $194,502 | $224,436 | $265,355 | $310,736 | |
| Cash at Beginning of Period | $0 | $154,257 | $348,760 | $573,195 | $838,550 | |
| Cash at End of Period | $154,257 | $348,760 | $573,195 | $838,550 | $1,149,286 |
Personal Training Business Plan FAQs
What Is a Personal Training Business Plan?
A personal training business plan is a plan to start and/or grow your personal training business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
What are the Main Types of Personal Training Businesses?
There are a number of different kinds of personal training businesses, some examples include: Mobile personal trainer, In-home personal trainer, Online personal trainer, and Gym trainer.
How Do You Get Funding for Your Personal Training Business Plan?
Personal Training businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.
What are the Steps To Start a Personal Training Business?
Starting a personal training business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Personal Training Business Plan - The first step in starting a business is to create a detailed personal training business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your personal training business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your personal training business is in compliance with local laws.
3. Register Your Personal Training Business - Once you have chosen a legal structure, the next step is to register your personal training business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your personal training business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Personal Training Equipment & Supplies - In order to start your personal training business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your personal training business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.