So, you need to know how to write a business plan for your new gym franchise, but not sure where to start. It is important to get right, especially if presenting it elsewhere.
Your business plan is all about organising your various ideas and putting them into the one space. It will all start to sound and feel very real!
Franchising – How to Write a Business Plan
A good business plan will show franchisors and also funders how serious you are about this business and also you have the motivation and are determined to make it a success.
Getting a business plan written down will help you to see all the challenges and issues you will face as your start-up. You can get it all written down and then decide just how you will respond during this process.
Business Description
Firstly, when it comes to how to write a business plan, start with your ‘Business Description’. Produce a cover page with your name, address, telephone number, and business name and give a brief overview of your business. You might decide to describe the actual sector or market of your business, your main goals and anything else that gives you an edge over other competitors. If you choose to use a ‘mission statement’ then this would be included in this section.
Tell the readers of your plan all about yourself and your business partner(s) and colleagues. For each person, provide a small amount about their background on their education, work experiences and positions held. You want to ensure the franchisors and any investors have a concise picture of who is actually running the business.
Marketing Plan
In regard to your Marketing Plan – explain about other competition in your chosen industry and who is your target audience. Explain what will make potential customers choose you over others in the same sector. How will you reach out to them? Also, the advertising strategies you will you use, as connecting with the right people is a very important part of your business plan so plenty of time, energy and resources is required to getting this right.
You by now will have completed a lot of planning as to how to start your business, but you do need to examine the day-to-day running of the business. Tell the readers of your plan – how many employees you may have and what exactly they will do.
You also need to outline how long will it take for your business to start showing a profit. Does the market you have chosen include any dips? Or is it consistent all-year-round sector? Using projections at this stage is fine, however, try to be as accurate as you can. Also, be sure to include any expenses and projected revenue for your business.
Think of your business plan as an on-going document; keep coming back to it and make any necessary improvements or adjustments. You need to ensure it is up-to-date and accurate so it can be used to give your business reliability and enthuse confidence. It is also beneficial to you personally to keep it an on-going process, as it will highlight signs of progress you have made and keep you on track to reach your chosen goals.
Mobile Gym Franchise Opportunities in London
GYMGUYZ Home Personal Training now have gym franchise opportunities in London available. Giving you the chance to write a business plan, set up your own home personal training franchise and even open within just 8 weeks!
