{"id":12161,"date":"2019-09-23T07:31:15","date_gmt":"2019-09-23T07:31:15","guid":{"rendered":"https:\/\/trifocusfitnessacademy.co.za\/?p=12161"},"modified":"2024-09-12T12:08:43","modified_gmt":"2024-09-12T10:08:43","slug":"business-fundamentals-every-fitness-professional-needs-to-know","status":"publish","type":"post","link":"https:\/\/trifocusfitnessacademy.co.za\/fitness-sport-management-blog\/business-fundamentals-every-fitness-professional-needs-to-know\/","title":{"rendered":"The business fundamentals that every fitness professional needs to know"},"content":{"rendered":"

If you are entering the personal training profession, or are planning on opening a fitness business, this is an exciting time for you of growth and opportunity. Cognizance of the benefits of personal training<\/a> has been expanding for over a decade as is market of clients who want to take up the services of a personal trainer. This expanded opportunity is accompanied by a huge influx of new personal trainers into the industry, which means increased competition. Thus, a thorough knowledge of business fundamentals is needed \u2013 by every personal trainer \u2013 so that they can see their business go from strength to strength.<\/p>\n

What business fundamentals does every fitness professional need?<\/strong><\/h2>\n

Although being a superb fitness professional means having an accredited qualification as well as heaps of experience, taking that skill and running a successful fitness business takes a bit more.<\/p>\n

Business plan<\/strong><\/h3>\n

First you need to put pen to paper and write a business plan. The business plan is the blueprint for the fitness business that you\u2019re going to be starting. In other words, it describes exactly how you\u2019re going to make your business fly.<\/p>\n

Often, we make the mistake of thinking that a business plan is a single document that you put together when you’re first starting out and then leave it along. However, in actual fact, the business plan for any business will change over time as the organisation develops. Any particular business may have multiple business plans as its objectives change.<\/p>\n

Here are the sections of a business plan:<\/p>\n

    \n
  • Executive summary which is a snapshot of your business.<\/li>\n
  • A company description which describes what you do.<\/li>\n
  • Market analysis consists of research about your industry, market and competitors<\/li>\n
  • Organisation and management looks at your business and management structure<\/li>\n
  • Service or product deals with the products or services you\u2019re offering<\/li>\n
  • The marketing and sales section details how you\u2019ll market your business in addition to your sales strategy<\/li>\n
  • Funding request looks at how much money you\u2019ll require for the next three to five years<\/li>\n
  • Financial projections contains information such as balance sheets<\/li>\n
  • The appendix is an optional section that includes CVs and permits<\/li>\n<\/ul>\n