Executive Summary for Gym Company Business Plan
Are you interested in writing an executive summary for a gym start up business? To keep fit, you will need to work-out many people own private Gyms at home, the attraction for commercial gyms are on the increase. There are certain workouts which are best conducted by a professional. One of the main reasons people are attracted to commercial gyms is because they get to be trained by a professional. This is in addition to meeting people who may share in their goals of attaining certain fitness thresholds.
Owning a gym business comes with its own challenges as well as opportunities for growth. To start a successful gym business, you must first think about putting all the right things in place. What are the most important requirements for starting a business? Before starting one, it is important to first plan. This applies to every other thing in life. So, for your business, you first need to write a business plan on how you want your business to develop. However, our focus is not on the entire business plan, but on an important part of the business plan which is the executive summary.
This article will provide a gym business plan executive summary sample to act as a guiding light for persons interested in writing one, but having limited knowledge. By the end of this article, you would have gained critical knowledge on how to write a good gym business plan executive summary. We begin with the following;
The Executive Summary
Located in the Suburbs of Detroit, the Valley Workouts is a fitness centre which is fully equipped with state-of-the-art gym equipments as well as young and energetic staffs who run the daily activities and ensure that our welcoming doors are always kept wide open to new and existing clients. Currently, the Valley Workouts Gym has over 300 registered members and counting, with the membership fee charged at $500 per annum.
We have mapped out ambitious growth plans that will see an increase in our registered members. Every year, we will be adding over 400 members with an increment of 200 for each year spread across a 10 year period. This calls for expansion, and we are not resting on our oars to establish more outlets within Detroit and beyond as the business grows. We have put in place adequate security arrangements for the protection of our clients. Also, a spacious car park owned by The Valley Workouts provides ample parking spaces for our clients.
In the area of funding, we will not seek for loans or debt financing as the business owner Mark Stevens will foot the investment sum. A savings meant for this purpose has been put aside. And the sum of $400,000 realized. The business model adopted will provide fitness training to both young and old, and will also employ the services of physiotherapists who would handle our training curriculum.
Our services will be driven by excellence, and this will reflect in our training programs as well as training equipments to be used. There are financial goals which we intend to reach. To make this a reality, we have come up with realisable profit targets spread across a 3 year period in the first instance. The chart below summarizes this.
- First Year $100,000
- Second Year $190,000
- Third Year $280,000
At the Valle Workouts, we intend building a robust brand which will stand the test of time and will compete with popular gym brands in the United States. Our tradition of excellent customer services will be deployed to engender customer loyalty which will be a major strength for our business. Because we know how critical patronage is to business, our satisfied clients will be encouraged to spread word about our products and services. Through the adoption of word of mouth marketing, this cost effective strategy will be instrumental to the realization of increased sales.
Our Keys to Success
To achieve our much desired success, Valley Workouts will embark on a robust marketing and advert campaign to attract more members to our Gym. Conventional as well as unconventional measures would be used. We would establish a world class marketing department to spread word about our products and services. The marketing department will be charged with coordinating all marketing activities.
Competition is a constant feature in business. As such, to excel in the face of competition, a research department will be established to develop innovative services and products which would give us an edge over our competitors. To achieve this, our members support will be needed in this regard. Their previous experiences with other gyms would be inquired, and their weaknesses as well as strengths improved upon.
To achieve our set goals, our workforce would be utilized through extensive and frequent training and retraining to ensure that they adhere to global best practices which will be our operational standards. A well trained workforce would result in fully satisfied customers. This is a key to success we would utilize to drive our business forward.
This gym business plan executive summary sample is targeted at entrepreneurs with limited knowledge on how to write good executive summary for their gym businesses. With this sample, it should eliminate any difficult areas normally encountered when writing a gym business plan executive summary.