Help Me With Sign Florida Banking Business Plan Template

Help me with industry sign banking florida business plan template

hey all my name is paul barosky and i am the owner of quality business plan and what i'd like to do today is introduce you all to some tips and tricks on how to write a fitness center business plan so let's go ahead and get started with this little handy dandy powerpoint presentation that i've got concocted for y'all and first and foremost a little bit about me then we're going to talk about your fitness center and your business plan needs i am a professional writer specifically a business plan writer so if you all want to avoid all the fun and excitement of writing your own business plan please pick up the phone give me a call send me a text i'd be delighted to take the burden off your shoulders and put it onto my plate also i am an author i've written many books on business plan writing so if you all want to check me out on amazon um you need a nice little structure or foundation um from which to write your own plan again i check me out on amazon um the books are there and help yourself and finally a little bit of educational experience about me i am an adjunct professor and subject matter expert for business and finance so i do have some educational backgrounds that will support my thoughts and ideas about helping you all write a fitness center business plan all right enough about me let's talk about you all tip number one when writing your fitness center business plan try to start with a story or a shared experience from my experiences of working with fitness center owners or entrepreneurs and what they've done is you know they've all too often they had an epiphany or something happened where they were leaving living an unhealthy lifestyle and then all of a sudden boom um they changed their ways they lost a lot of weight um they've you know they changed from being unhealthy to healthy and that experience was the foundation from which they now want to grow their entrepreneurial business this experience should be shared with your readers in my most humble of opinions i'd like to share that experience before you even get into the business plan this way it shows that you've got experience in the industry there is passion and drive and there there's a reason you want to get into this and it's not just you know those those rectangular little green um bills that you receive you know some people call money so just make sure you show your motivation your thoughts and ideas your experiences before you dive into the business plan it's going to show that you've got some staying power next is going to be the problem that you're solving not everybody wants to get healthy for the same reason some people want to feel better about themselves some people need to do it because they've been in an accident they need to re rehabilitate other people just wanted they just want to go ahead and you know maintain a vibrant lifestyle and they need to be healthy so whatever your problem that you're solving whatever your business is going to be aligned with make sure you discuss that also in the opening section of your business plan if you're there and you're a powerhouse gym and you're there for bodybuilders well you know discuss the problem that you're solving where is you know the this niche segment of the population needs a place that's serious about building you know building the bodies to the peak physiques so make sure you discuss that identify the problem and make sure you show it and then in the business plan align your products and services with the problem that you've identified with next is going to be competitive advantage we've got a lot of competitors out there in the fitness center you've got the la fitness out there you've got lifestyle fitness you've got 24 hours fitness a lot of different big chain organizations are out there and they're hitting some pretty good niche markets when an organization is starting up you are competing against the big boys so there's some you know you've got some benefits and some challenges with going against the heavy hitters you know for example you know small startups are really good with identifying niche markets you know for example you've got the crossfit that just you know came about a few years ago and you know that upswell is something that small business owners are able to exploit very quickly whereas large organizations such as la fitness and the other you know competitors out there they can't move and respond to the changes in the marketplace where small business owners small fitness center owners are able to so make sure you identify what your competitive advantages are whether it be flexibility or a niche market and you know not only identify it but also align some of your amenities with your competitive advantages to show that you've again you've got alignment within your organization next is going to be industry research tip number two when you're doing your industry research it's real easy to fall into the trap of just going after your competitors and you know showing that you know based on google reviews la fitness has a 3.2 star rating because their customer service is horrible their machines are always broken down and they've got a pool half full of water that is always continuing to leak and you can justify that assumption or that that that view because they've got water in the parking lot that's perpetually there regardless if it's 90 degrees out for the last two weeks and you're going through a dry spell it's really easy to just go right after your competitors however if you don't lay the foundation that you're an industry expert and show that you're an industry expert your thoughts and ideas lack credibility so when i write my business plans or i when i'm counseling my clients i tell them to always go for national research first go to your wellness creative which is a website out there that has some really good information for in your fitness center statistics go to ibis world just scour the internet look for trends look for facts look for figures and make sure that you're using reliable sites you know so for example just doing some brief research on the fitness center industry the market size right now is about 87 million 87 billion dollars which is you know pretty substantial as of this um january of 2021 there are approximately 174 million gym memberships worldwide that kind of tells you that people love to get the gym memberships doesn't mean they're using them on a consistent basis but people are continually seeking out ways to be fit and they are spending money for it once that you show that you understand the fitness center market you've done your research and you understand the industry and you know what customers are where customer tastes are trending then you can go ahead and use that research that you've done and documented in your business plan you can then start comparing the competitors to the national research an example of this would be currently right now crossfit is trending on a national scale however the big competitors have yet to embrace it you know heck it took them years and years and years to finally embrace a zumba and once they finally the large competitor finally did that you know it was the fed was already going away so you know identify the national trend and then compare the your competitors show how they're failing as compared to national trends and then once that's done go ahead and state how your organization is going to exploit that trend um where your competitors are missing out all right tip number three advertising when you're doing your fitness center it's really easy to do social media you can sign up for your instagram sign up for your facebook you start snapping pictures of people working out enjoying you know your facility another popular way is going to be your website you know a lot of you know small businesses they're going to you know start out their website and they're going to put their prices and they're going to keep them updated and then again you're going to have your word of mouth as well from my experience for the fitness center one of the most important things that a business owner can do is make sure that they have their website with their amenities and not only have that information but also be on the google search as well because when somebody's looking for a fitness center to sign up almost immediately they're going to go to the google they're going to go to the being they're going to go to the um you know the yahoo search or whatever search engines that they're out there for when you're part of the marketing section of the once you're part of the marketing section of google where you know they actually you're just going to pop up because you're a business in the area and then you're going to have a higher likelihood of being clicked once you're clicked people are going to want to know what your amenities are for your fitness center so when the business when marketing make sure to stress on your website the amenities you know such as if you have a pool your machines if you have personal training if you have you know some kind of a zero down contract entry whatever your amenities are going to be that your clients are going to see benefits in make sure to stress those and make sure those are prominent you know yes they're going to want to know your name and they're going to know your operating hours but the biggest thing they want to know is about the amenities it's almost like a hotel people go there for the amenities same thing for the fitness center people are going to go there for proximity and also for the amenities so make sure you so in summary when you're advertising make sure your company is easily found on the internet and also when they find you make sure to really stress the amenities that you're going to be offering tip number four funding request everybody is going to need money when starting a business i don't care how small or how big your business is going to be you're going to need money whether it's you providing all the money you're getting the bank loan or you're going to mom dad friends family neighbors whatever you're going to need a little bit of funding when you're writing up a funding request there are some specific strategies that you should follow to increase the likelihood of getting funding the first strategy is in your first sentence when writing your funding requests state specifically how much money you are going to need to start operations do not put a range of 150 to 170 000 when you go for a range that shows not only are you wishiwashi but it also shows that you really don't know how much money you need to start the business you don't want to lead off your funding request at a position of weakness you want to lead it off at a position of power and the position of power is going to be the state specifically the dollar amount you know for example in order to start my fitness center in orlando florida our organization is going to need 175 000 once you identify the dollar amount that you're going to need then you need to give yourself a little bit of wiggle room when you're trying to go ahead and you know categorize the money that you're going to need for startup a great way to go ahead and create a budget for your startup is to make categories an example the categories is going to be your build out section for you know transforming a retail spout or you know just a a blank area in a strip mall into your fitness center so you're going to need some build out capital so put a dollar amount for the build out capital and go a little bit higher if you need seventy five thousand dollars for your build out you know put down the eighty five thousand dollars give yourself a little bit of wiggle room working capital is another category you're going to need for your fitness center in a working capital all that is is once you start once you open up your doors day one you're going to need some money in your checking account just to make sure you're able to sustain operations until your revenues start flowing in from your memberships also you're going to need money for equipment what is a fitness center without equipment you're going to have to drop a little bit of money for your equipment now please do not list every piece of equipment that you're going to buy and the specific dollar amount at that point in time you're locking yourself into too too tight of a corner you want to give yourself some wiggle room so say you know you're going to need some weightlifting equipment and put a dollar amount there you're going to need some cardiovascular equipment put a dollar amount there whatever the current retail the current sales price are for these machines bump it up a little bit because you don't know what's going to happen i mean you know who would have predicted a pandemic set and then and you know borders being closed and you know prices for you no imports going through the roof so give yourself a little bit of wiggle room and then inventory you know some fitness center fitness center individuals think they're not going to need inventory but you're going to need your supplies you're going to need your paper products you're going to need some inventory so make sure to budget for that as well once you've identified every one of the categories that's going to be within your company that you're going to need for funding make sure to total that dollar amount at the bottom and that bottom dollar amount total should be identical to the top line dollar amount that you're requesting that shows alignment and it gives you also wiggle room in the body of how you're budgeting but it shows that you're you know exactly how much you want at the top so you're coming at a position of power and next is going to be financial projections anytime somebody starts a fitness center usually they want to make a little bit of money off of it they're not doing it for charity they're doing it to make a profit but also because they're passionate about it when you're doing a fitness center you do want to know what your net profits are going to be or anticipated in order to you know decide if you know your prices are where they need to be and maybe you need to cut costs or maybe you've got some wiggle room for costs that you didn't know about but you can't make a you're not going to have a full understanding of your fitness center's financials without a basic profit and loss statement with that said the way that i would structure a basic profit and loss statement would be to identify what your revenue channels are going to be the main revenue channel almost always for a um almost always for a fitness center is going to be gym memberships you may also offer personal training too and then there's other sales you know some some places are going to have a snack shop in there they're going to have a gift shop there's other ways to go ahead and generate additional revenues as well and so make sure you identify all the revenue generating channels you're going to have list them and the next step is going to be identify what the average price is going to be yes you might have you know a silver a bronze and a gold level of membership well don't go too crazy with the details with this because you know you're trying to predict the future and you know not many people are able to do that um so just you know go with averages you know so for example with this example we've got a price so the average membership i'm estimating is about 25 the variable cost you know for the papers and you know for you know signing them up with the another credit card withdrawal you know situation what have you that variable cost may be three dollars once you get your price identify the price and you know what your variable cost is going to be you subtract your variable cost from your price which is going to give you your gross profit of 22 next thing you're going to do is identify how many memberships you anticipate selling on a daily basis so for this example right here we're in anticipating selling 15 memberships so we're going to take this 15 memberships we're going to multiply it by the gross profits of 22 that's going to give us 330 or total gross profits you're going to follow that same strategy for personal training and any other revenue generated sources once you're done with that you're goi g to add up your total gross profits for your total gross profits for um for the day then what you're going to do is you're going to multiply your total gross profits daily by the number of days that you're going to be operating usually it's going to be 30 and that's going to give you your monthly growth profits in this example is 34 950 next thing you're going to do is you're going to align your fixed cost with your monthly projected gross profits to do that you're just going to list your monthly fixed costs you may have a loan that's 950 you might need to buy inventory in a consistent basis which is 700 your labor might cost you 9 500. spend space rental might be 6 500. utilities we can estimate 1200 marketing you are gonna be dropping a little bit of money to get your branding out there and to you know get in front of your target markets five thousand dollars accounting legal and insurance we're going to lump all those together in about a 750 dollar estimate and then finally my favorite miscellaneous there's no way you're going to be able to predict your monthly fixed cost when you haven't even opened your doors you definitely need the catch-all category and that catch-all is going to be your miscellaneous once you've identified and anticipated what your fixed costs are going to be you sum up all your fixed costs right at the bottom in this example is 25 400 and the final step is to figure out the monthly profits in order to do that we are going to take our monthly gross profits from here 34 950 we're going to pull it down here then we're going to take our monthly cost which are right here 25 400 put it right here and then we're going to subtract our monthly gross profits from our monthly cost and it's going to give us our net profits of 950 now once you've got this nice little nice little financial model set up you can now change how many memberships you think you're going to have on a daily basis if you start to mature as an organization your number of memberships signed up on a daily basis might fall from 15 to 10. will you change it right here and that's going to show you what happens to your monthly profits down here as long as you have everything intertwined um which is one of the powers of in your excel and your financial models all right next is going to be the summary all right so in summary when you're doing a fitness center business plan make sure to follow some kind of a proven format if you start with just a blank a blank word document for the most part you're going to have that blank word document in front of you for the next several hours several days several weeks and in some instances several months no need to start with a blank piece of paper there are some templates out there that can help you you know at least give you a starting point and start asking the questions that are relevant to your business one place you can go to is you're going to be the sba website they've got some really good business plan templates out there that gives you some you know good segments and it also gives you some prompt questions to get you going for each one of the segments the challenge with the sba website for the fitness center is that their templates on there they are geared towards all businesses so you can use the same temple for a restaurant as well as a manufacturing company a business consulting company and also a fitness center company unfortunately though is some industries have segments in there that you need to touch on that are not going to be relevant to other industries so for example you're going to have to worry about food cost and you're going to want to touch on food costs in your business plan whereas you really not worry too much about your food cost for a fitness center so use some kind of structure it's not perfect but it's something if you need a you know customized business plan template for the fitness center industry just reach out to me i am in the process of writing up a template that's going to have updated industry information as well as just a standard financial projection but it's it's a heck of a lot better than the other temples out there next is keep the star of the show the business when you start in the fitness center don't get carried away talk about talking about your story or talking about you know all the benefits and all the growth that you're going to be or just you know the industry happenings make sure that the start of the show is the business the business models the financial projections the target market the the you know how you're going to be doing operations the number of employees you're going to have their pay how are you going to you know structure your fitness center so it flows and and it's it's you know accommodating to all individuals you know based on their needs so keep the star of the show as the business don't don't try not to get wrapped up into your experiences and just make the business all about you or just don't talk about you know a specific target market and all the problems in the industry i've seen too many business plans where i read them i get so much in-depth information about the industry i have no idea what their business looks like so stay away from that problem and then finally if you need some help contact me i am a business plan writer financial i'm really good with financial models um so like i said reach out love to help and next is going to be if you all do want some more information with business plan writing for a fitness center please mosey on over to my website of qualitybusinessplan.com forward slash how to write a fitness center business plan and on this website i do give you y'all some more tips and tricks and thoughts and ideas for various sections in your business plan so you'll want more information on my website and then finally if you do need a business plan template that is focused on from the fitness centers i am in the process of developing that particular business plan template so if you go over to qualitybusinessplan.com forward slash business plan templates scroll down look for the fitness center template if it's not there send me a message i am in the process of writing it up um hopefully i'm going to have it up there within you know shortly but if it's not out there send me a message i'll usually i'm go ahead and move that up on the you know on my list of templates i'm generating and i can usually have that ready for within 24 to 48 hours all right and finally if you all want some books um for business plan writing just check me out at amazon for slash author forward slash my name paul broski and finally hopefully this video was helpful and geared towards your tips and tricks that you may be able to use when writing your own fitness center business plan if you like the video give me a thumbs up on youtube thank you