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How to Start a Gym: Your Complete Guide to Success 

gym business plan in the philippines

Disclosure: Small Business Philippines strives to provide relevant and accurate information in all its articles. However, some information in our articles may differ or might be outdated from what you can see or read directly from the establishments’ or businesses’ websites. Please get in touch with us directly for any discrepancies.

Starting a gym involves establishing a fitness facility where people can engage in various exercises and activities to improve their physical health and overall well-being. As an entrepreneur and business owner, venturing into the fitness industry in the Philippines can be an exciting and rewarding endeavor.

This guide will provide you with all the information you need to successfully start and manage your own gym in 2023.

Why Start a Gym in the Philippines?

When and where to start a gym.

  • Step 1: Define Your Gym's Vision and Mission

Step 2: Conduct a Feasibility

Step 3: secure funding, step 4: register your business, step 5: set up your gym facility, step 6: hire qualified staff, step 7: develop membership plans and pricing, step 8: market your gym, step 9: provide exceptional customer service, examples and tips for running a successful gym, key takeaways.

The fitness industry in the Philippines has experienced significant growth in recent years due to the increasing awareness of health and wellness among the population. By starting a gym, you can tap into this growing market and contribute to the well-being of individuals in your community. Moreover, running a gym allows you to turn your passion for fitness into a profitable business venture .

Choosing the right timing and location are crucial factors for the success of your gym. Conduct market research to identify the best time to enter the industry and to understand the demographics and preferences of your target audience. Look for a strategic location with high foot traffic and accessibility to ensure that your gym attracts a steady flow of customers.

How to Start a Gym: Step-by-Step Guide

Step 1: define your gym’s vision and mission.

Clearly define the purpose and values of your gym. This will help you create a unique brand identity and attract like-minded individuals who resonate with your vision.

Study Perform a thorough feasibility study to assess the viability of your gym business. Evaluate the market demand, competition, financial requirements, and potential risks involved. This information will guide your decision-making process and help you develop a solid business plan .

Identify potential sources of funding for your gym, such as personal savings, loans, or partnerships. Create a detailed financial plan, including projected expenses and revenue, to present to potential investors or financial institutions.

Follow the necessary legal procedures to register your gym as a business entity in the Philippines . This includes securing the required permits, licenses, and certifications to ensure compliance with local regulations.

Design and equip your gym space to create a welcoming and functional environment for your customers. Consider factors such as the layout, equipment selection, amenities, and safety measures to provide an exceptional fitness experience.

Recruit knowledgeable and certified fitness professionals to join your team. Ensure that they possess the necessary qualifications and skills to deliver high-quality training and assistance to your gym members.

Design membership plans that cater to the diverse needs and preferences of your target audience. Determine competitive pricing strategies that reflect the value and services your gym offers.

Implement effective marketing strategies to create awareness and attract potential customers to your gym. Utilize online platforms, social media, local partnerships, and community events to reach your target audience and showcase the unique aspects of your gym.

Prioritize excellent customer service to build strong relationships with your gym members. Offer personalized attention, create a supportive community, and listen to feedback to continuously improve your services.

  • Foster a positive and inclusive gym culture that motivates and inspires your members.
  • Offer a variety of fitness programs and classes to cater to different interests and skill levels.
  • Stay updated with the latest fitness trends, equipment, and training techniques to provide innovative experiences.
  • Leverage technology by implementing online booking systems, mobile apps, and virtual training options.
  • Build partnerships with local businesses, influencers, and organizations to expand your reach and enhance your gym’s reputation.

Starting a gym in the Philippines requires careful planning, market research, and strategic execution. By following the step-by-step guide provided in this article, you can establish a successful gym that meets the needs of your target audience. Remember to focus on providing exceptional customer service, fostering a supportive community, and continuously adapting to the evolving fitness industry.

Take action today and embark on your journey to make a positive impact on the health and well-being of individuals in the Philippines. Start your own gym and witness the transformative power of fitness.

Start your gym now and shape a healthier future for your community. Let’s make fitness accessible and enjoyable for everyone.

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Most Popular 8 Gym Franchises in The Philippines for 2023

Most Popular 8 Gym Franchises in The Philippines for 2022

Gym services as well as other businesses related to healthy lifestyle are incredibly demanded. Therefore, 2022 will be favorable for gym franchise owners in the Philippines. We have compared the current list of the most popular brands with the one of previous years. There is just a minor change in the rotation of the brands which shows their stability. Gym franchise has a lot of pluses compared to other businesses. First of all, it doesn't depend on a season of the year, it is in demand entire year. Secondly, healthy lifestyle is getting more and more popular, being promoted by celebrities on social networking sites. Thirdly, making people fit and healthy is rewarding. A well-established franchise with a popular brand name will be a sound decision if you choose to start your own gym business. Because you will not face any obstacle with attracting visitors and unresolved issues with running the business. If you feel ready to start your own gym, consider our list of the most successful gym franchises in the Philippines.

Here is Most Popular 8 Gym Franchises in the Philippines:

Founded in: 1992 Franchise units: 10,000+ Worldwide Initial Investment: from ₱1,260,000 Franchise fee: ₱2,016,400

Curves is the only “one-stop shop” which caters specifically for women. Here they can lose weight, gain muscle strength, gain aerobic capacity, and raise metabolism. The brand tells us that they are not just all about getting into fitness, health, and moving away from disease. Their program offers more holistic goals than just gaining strength and losing weight – they envision women reaching their goals in a community of support and encouragement.

best gym franchise opportunities in the Philippines

360 Fitness Club

Founded in: 2010 Franchise units: 5 Initial Investment: from ₱4,850,000 Franchise fee: from ₱485,000

The 360 Fitness Club is one of the new gym franchise business opportunities in the country, to cater the needs of people passionate about their fitness. 360 Fitness Club business plan includes the brand’s signature fitness programs. They offer what they call “functional fitness” or exercises functional for everyday productivity – perfect for working people. They offer a compact program where gym goers can complete a complete a circuit in 30 minutes.

360 FITNESS CLUB

Snap Fitness 24/7

Founded in: 2003 Franchising since: 2004 Franchise units: 1300+ worldwide Investment Range: ₱8,090,000 Royalty Fees: ₱26,700/mo.

Snap Fitness is the world’s fastest growing health club chain with a global presence of 2500 + clubs spread across US, Canada, Mexico, Australia, New Zealand, England, Egypt and Philippines. Snap offers a more sustainable alternative to traditional `big box` health clubs with lower investment (operational) costs and much better returns. With a focus on providing members with the best equipment, guidance, and value-added services to help them achieve results, Snap Fitness is a global leader in fitness franchises.

Snap Fitness 24/7 Franchise in the Philippines

Winners Gym

Founded in: 1982 Franchise units: 4 Investment Range: from ₱1,570,000 Franchise fee: from ₱242,600

Winners Gym boasts of the birthplace of weight training instructors, who learned the basics of fitness training from the gym. Through the years they honed that knowledge of body-building into a respected sports conditioning activity. Now is the best time to franchise a Winners Gym and advocate a lifestyle of health and fitness in your own area.

WINNERS GYM

IronPinoy Fitness

Founded in: 2000 Investment Range: from ₱141,500

IronPinoy have become one of the recognized brand in the Philippine Fitness industry. It started as a website by Bong Pico and Oscar Gan to cater fitness and bodybuilding enthusiasts in the country. And since the year 2000, IronPinoy has evolved into a global brand. They offer three kinds of franchises, but they also offer an Associate Gym Franchise starting at Php150,000. Their assistants will be able to help you fit your franchise to your needs, and make your gym business more profitable and successful.

IRONPINOY FITNESS

Founded in: 1992 Franchising since: 2004 Franchise units: 100+ worldwide Initial Investment: from ₱7,631,000 Royalty Fees: 4-6%

UFC GYM is the first to combine mixed martial arts, functional training, and traditional fitness. UFC GYM’s Train Different techniques create an experience that delivers immediate lasting results in a safe and fun environment. Franchise models are Signature Club, Core by UFC Gym and Class by UFC Gym. Franchise locations offer group fitness classes, private training, group training and MMA-style youth programs. Most facilities feature a functional training area, heavy bags, cardio and strength equipment, and a retail section.

top gym franchises 2022 in the Philippines

Anytime Fitness

Founded in: 2001 Franchising since: 2002 Franchise units: 4,000+ Initial Investment: ₱5,434,000 Ongoing Royalty Fee: 22,700 - 27,700 PHP/mo. Ad Royalty Fee: ₱15,200/mo.

Anytime Fitness is a 24-hour health and fitness club headquartered in Woodbury, Minnesota. The gym facilities are open 24 hours a day, 365 days out of the year. A new member joins an Anytime Fitness club every 3 minutes. With over 155 clubs open in the UK already, the company has had steady growth throughout 2018 and aim to have 250 clubs open by 2020.

top gym franchises to own in the Philippines

Tapout Fitness

Founded in: 2014 Franchise units: 25 Initial Investment: from ₱4,740,000 Franchise fee: 1,516,000 - 2,527,000 PHP

Tapout Fitness is a fast growing franchise company that offers Martial Arts infused fitness facilities for adults and children of all levels. Our clubs feature Tapout Fitness branded boxing, kickboxing, boot camp and high intensity interval training (HIIT) classes, which are complemented by some of today’s hottest group fitness programming.

TAPOUT FITNESS

To summarize, we can say any of the listed above gym franchises is worth buying. But there is a lot to consider while choosing the best one for you. Pay attention to the reputation of the brand, what training and support are offered, check if the other franchisees are successful. But the main thing you need to do is to align your budget with investment requirements of the brand. In order to ease the challenge, we have made the comparison flowchart of the best gym franchises in the Philippines for you. It shows the minimum estimated initial investment and initial franchise fee of each brand. By using it, you can figure out the difference in financial requirements for each franchise, and decide which one fits you the most.

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Business, Investments, and Personal Finance

6 Quick Tips on Starting a Gym or Fitness Center Business

Updated: May 24, 2019

Are you a fitness buff? Then starting a gym or fitness center could be the best business idea for you.

It’s a profitable venture, especially today when people have become more body and health-conscious because of social media. Everyone wants to look and feel good for their selfies and travel photos.

Below are six quick tips that you can follow if you want to succeed in this line of business. So if you plan to start a local gym or fitness center, then read these advice.

1. Estimated Starting Capital

A regular-sized weight training gym costs around P3 million to P5 million today. If you want a warehouse-sized operation, it can cost more.

Around 50% of your capital will be for buying the necessary office and gym equipment, while 25% is for administrative costs such as construction expenses and business permits.

Lastly, the rest of that capital will for your operating expenses. Apart from utility bills, this fund includes at least 6 months worth of salaries for your sales team and fitness trainers.

gym business plan in the philippines

2. Fitness Equipment

The basic equipment for today’s gyms include the treadmill, stationary bike, resistance machines, weights and dumbbells, squat rack, bench, medicine balls, pull-up bars, and functional exercise equipment.

Define your target market and prioritize which to buy first, if you can’t afford to buy all. If you plan to target the young moms in your community, then cardio machines, functional exercise equipment, and dumbbells are your priority.

As always, consider the quality and built of your equipment. A cheaper brand may cost less, but they could easily break down and more expensive to repair.

3. Gym Staff

Make sure to have a good sales and customer relationship manager. It’s important to make the membership grow consistently while ensuring that everyone’s happy and satisfied with exercising at your gym.

Moreover, hire fitness trainers that are knowledgable and good in dealing with people. It’s also important to get those with proper educational background and can do first aid procedures.

4. Business Location

The location of your fitness center can dictate how profitable your business will be. In essence, your accessibility is the key here.

Choose a location near your target market’s place of residence or work. It’s preferred to put up your gym near heavy foot-traffic so you can also get walk-in inquiries.

5. Beyond Body Building

The gym is not just for body builders, it’s also a place of social interaction and making new friends.

There are a lot of gyms that incorporate a variety of services that combine sociability with fitness. Consider having group exercise sessions and special-interest classes such as Zumba or Yoga, to add value to your gym service.

As additional source of income, you can also sell items such as supplements, bottled drinks, and fitness lifestyle accessories inside the gym.

6. Membership Rates

Keep your member packages reasonable. The membership fees of nearby gyms and fitness center can serve as your basis for your prices. Offer a “per session”, monthly, and yearly rates.

You can likewise offer special packages such as time-limited access rates for those who can workout only in the morning, or those who can afford to go to the gym only during weekends.

Final Thoughts

A gym or fitness center business in the Philippines is not a popular venture for starting entrepreneurs. But it’s nevertheless a profitable business if you have the passion for health and fitness.

Losing weight and becoming fit is something a lot of Pinoys aspire for. Help them achieve that with your business, and make a difference in their lives.

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11 comments

thanks sir fitz I hope I can register in your business academy but I’m still residing here in Dubai

Hi raymart, yes you can register. It’s an online course. And it will help you plan and start a business, which I recommend doing while you’re still in Dubai, so that you can have a running business already before you decide to come back to the Philippines.

can you give me the complete details sir on how to register in your online course and what is the mode of payment to avail of it.can I get your fb account sir so that I can ask more info personally..

Hi raymart. I’m just sent you an email. Thanks.

Hi. Im interested for this online course

Great Page. Learned more about it.

Hello, im a 57 yrs old female interested to join and do business with you. Pls send details on my FB on how to get certificate or to be knowledgable enough to be an authorized GYM trainor specially for the moms and elderly.

Hello, is this online course still available today?

Hello, I am a retired ship captain and planning to start a small gym or fitness center in my province. Fitness instructor looks difficult to find in my place. I am interested to join your on-line course to become an authorised fitness trainor.

i think this business are fit for me, but first i need the first tips..

I am interest to learn more on starting a Gym Business in the Philippines. Please let me know how to avail your online course. Thanks.

Best, Jiles

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The Best Gym Franchises in the Philippines

A lot of people are getting into the habit of being healthy and fit. Gyms offer them a space where they can have a good workout two to three times a week. And getting fit doesn’t pertain to a specific season of the year. It is a year-long activity.

You might then consider setting up a gym. But it entails a lot of planning and procuring, from spaces, amenities, all the heavy exercise equipment, as well as knowing what type of exercise your gym can offer.

Fortunately and surprisingly, you can enter the business through franchising. There are a lot of established gym brand names already out there. But if you cannot have the funds needed to handle names like Gold Gyms, there are still other brands that will be able to help you on your venture and flex your muscle into success.

Gym Franchises in the Philippines

Winners Gym

Hailing from Iloilo City, Winners Gym first operated in December 1982. It has established itself as a pioneer in the gym industry, operating in four locations in the province.

Winners Gym boasts of the birthplace of weight training instructors, who learned the basics of fitness training from the gym. Through the years they honed that knowledge of body-building into a respected sports conditioning activity.

Franchisees can now avail of a business with the Winners Gym brand. They can contact RK Franchise Consultancy at the ground Floor of Minnesota Mansion, 267 Ermin Garcia, Cubao 1109 Quezon City. They can be reached through telephone numbers (02) 912-2946 an 912-2973 in Manila, and through their nationwide toll-free number 1800-10-88888RK. Drop them an e-mail at [email protected].

Anytime Fitness

Anytime Fitness boasts as being the top-ranked yet low cost gym franchise. They have a business plan that will cater to your budget limit. You can deal and work out on matters with their franchise consultants to help you choose the best equipment sets for the size of your prospective club within your budget limit.

Additonally, they have finance experts that can assist you with leasing options. They have an extensive experience with gyms set up around the globe, the Philippines included.

Asia Fitness holds office at Limited, Richmond Commercial Building, 109 Argyle Street, Mong Kok, KLN, Hong Kong. But you can access their Philippine website at http://www.anytimefitness.ph and fill out a form there for additional inquiris. Also, find them on social media. Visit and like them on facebook at AnytimeFitnessPhilippines, follow their twitter account @AnytimeFitness.

IronPinoy.com

IronPinoy have become one of the recognized brand in the Philippine Fitness industry. It started as a website by Bong Pico and Oscar Gan to cater fitness and bodybuilding enthusiasts in the country. And since the year 2000, IronPinoy has evolved into a global brand.

Having already established local and business partners through the years, IronPinoy promises to bring in expertise, support, education, technology, and programs to aid entrepreneurs and franchisees go about with the gym business.

They offer three kinds of franchises, but they also offer an Associate Gym Franchise starting at Php150,000. Their assistants will be able to help you fit your franchise to your needs, and make your gym business more profitable and successful. They also offer financing options.

IronPinoy Fitness Gym holds office in Makati City, Philippines. Reach for Mr. Bong Pico thru Mobile: 09176105039 and 09194055426. Send him an email at [email protected] and [email protected]. Additional information is available of course in the website http://www.ironpinoy.com

360 Fitness Club

Their tagline shouts “Franchise a gym business concept that gears you up in life and business!” The 360 Fitness Club is one of the new gym franchise business opportunities in the country, to cater the needs of people passionate about their fitness.

360 Fitness Club business plan includes the brand’s signature fitness programs. They offer what they call “functional fitness” or exercises functional for everyday productivity – perfect for working people. They offer a compact program where gym goers can complete a complete a circuit in 30 minutes.

The brand has Francorp’s franchise expertise to back its business with you. They have a promise of achieving profitability and growth with their business package.

Francorp holds office at 2809 Jollibee Plaza, F. Ortigas Road, Ortigas Center, Pasig City,Metro Manila, with telephonenumbers (+632) 638.31.49 to 50 and (+632) 910.65.44 to 45 . To learn more about 360 Fitness Club, send them an email at [email protected] Visit their website for forms and applications at http://www.completethecircuit.com/360-fitness-club-franchise and http://www.ufranchiseasia.com/360-fitness-club-franchise.

Curves is the only “one-stop shop” which caters specifically for women. Here they can lose weight, gain muscle strength, gain aerobic capacity, and raise metabolism.

The brand tells us that they are not just all about getting into fitness, health, and moving away from disease. Their program offers more holistic goals than just gaining strength and losing weight – they envision women reaching their goals in a community of support and encouragement.

They have an unofficial motto “No makeup, No men, and No mirrors.” Curves offer their innovative 30-minute fitness concept that combines strength training and cardiovascular activity. They also offer a scientifically-based diet program to raise metabolism and end the need for perpetual dieting.

Curves operates a branch in Serendra, Bonifacio Global City. And as a business venture, the brand which hailed from Harlingen, Texas in 1992, is now being offered as a franchise here in the Philippines!

Interested franchisees can log in to their website at www.buycurves.com to learn more about Curves. Also follow the on social media at http://www.facebook.com/pinoyfitness and http://www.twitter.com/pinoyfitness.

4 responses to “The Best Gym Franchises in the Philippines”

How much to franchise 360 Fitness Club?

can i ask if 200k is enough to start a small fitness gym ?

How much the franchise fee?

how much start franchise business gym

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Business for Fitness: A Profitable Business in the Philippines

gym business plan in the philippines

Being health conscious is becoming a norm nowadays where a lot of people are giving importance in taking care of their health. We would find in our Facebook newsfeed that some of our friends have recently participated in a fun run in BGC or at MOA. Or maybe you see a picture of a fruit and vegetable diet regimen that they are undertaking. You may also find some recent check-ins of your friends to their neighborhood gym, a boxing or perhaps dance class.

thefitpost040

If your thinking well I should now invest into a fitness store or perhaps own a gym! Well, you better read this first. It is not as easy or as simple as it gets just like any other endeavors. The market of health conscious individuals is a big plus but the thing is, how can you take most of the advantage of the growing number of healthy living people and make it a profitable business in the Philippines.

Baby Boomers

These are the age group who were born after the Second World War, between 1946 and 1964. They almost dictate the market needs. Today they are 45-60 years old and that is why the market is inclined to health maintenance. If you’re shocked as you read this, just watch some T.V. advertisements of health products, juices with added vitamins and even water with vitamins!

baby-boomers_2613902b

Fitness Gym

A gym is the first thing you might want to consider investing into. A lot of people go to the gym after work 2-3 times a week. This coming Christmas season, this will rise up especially on New Year. What do you need to focus on if you want to venture into this business?

First and foremost are the equipment like the set of dumbbells, barbels, and the different huge equipments for the chest, back, abdomen, legs, and the whole body! Every needed basic equipment must be present. Second, for those who want to lose weight and for warm-ups,treadmills are also needed. Lastly people prefer air-conditioned gyms and drinking fountains. Lockers and shower rooms are also a must. You can also sell refreshments, supplements, protein shakes, CBD Protein Powder , and food.

golds

Rates can be per visit or by membership if they also enroll to a number of training sessions with a licensed gym instructor. On commercialized fitness gyms like Gold’s Gym or Fitness First, in order to access the whole facilities, one must be a member of a minimum number of months. Payments can be automatically debited on their credit card or they can pay the whole amount in cash. You can offer promos and reasonable terms for your customers.

golds 1

Spa and Massage Clinic

A lot of you may have thought about this one. Spas and massage parlors are best situated near offices where tired employees and owners might visit for a relaxing and soothing massage. If you have visited and tried these services, you might find something in common. The low lighting and the aroma coming from the scented candles fills up the place.

spa

For spa, a set reclining chairs or  lazy boys is one investment. A good air conditioner is also a must. A massage bed is definitely a major requirement for massage clinics to have. The of course the oils, the rocks, and other things needed to execute the different kinds of massage should all be in your inventory.

Rates are normally  per session. You can arrange for a contract with a business establishment where-in their employees can have a discount or free spa and massage per month.

Dance Studio

According to my friend who owns a gym, most of their revenues came from the dancing sessions like Zumba. The difference between this and the ones conducted for free inside malls or outside the town plaza is that it provides more interaction between the trainers and the students. Also the training is exclusive to those who enroll.

Peovnia-Philippines-The-Spa-Glamomamas-missmatch-spantastic-valentine-4

Having a huge dance hall and another room of two for other lessons is the major requirement here. An excellent audio surround system is also a requirement to create a positive and ecstatic ambiance. And of course the big mirrors attached on the walls. Yoga mats are also required and also some weights.

Rates are per session or you can make a contract that will enroll them for the next 10 sessions they attended, which will save them more money.

Yoga and Martial Arts

Your dance hall can also hold Yoga classes and since you invested in yoga mats, they will definitely be utilized. A lot of people also love to try yoga and stretch their bodies out. A good air conditioning system is also needed since people will be perspiring a lot here.

img-1

Martial Arts like Taekwondo, Jujitsu, Karate, Judo and the like can also utilize your dance hall and hold classes. Especially during summer when parents want their children to learn other things aside from school, these classes will be attractive to them.

seminar2

Rates here are per session or by enrollment basis. Just like on dances, a contract will also be attractive on the customers because they save more money in the long-run.

Boxing has also captured some individuals who want to try other ways of enjoying being physically fit. A boxing ring is the major priority here to simulate some sparring sessions. The equipment like weights and heavy bags for strength training, boxing mitts for speed training are also needed. Then the boxing gloves and the boxing headgear is also needed though most boxing gym requires their customers to buy their own set of gloves for hygienic purposes.

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Things To Consider

The demand for fitness-related businesses is high which make them one of the best business opportunities in Manila. With the use of contracts and membership, your fitness business can turn into a passive income generating business. The success will still depend on how customers are satisfied with your services. Take note that they can switch services with other fitness owners if they were not satisfied with yours. Building a long-term relationship with your clients will definitely make yours a profitable business in the Philippines.

TJ Figueroa

TJ is an alumnus of the University of the Philippines Diliman. He is currently running an online business from home. He writes business articles for passion. On his free time he plays Dota 2. He simply wants to be a good son, brother, boyfriend, and Filipino citizen.

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Gym business plan: a checklist with templates & examples

In this article, you'll find a checklist of everything you need to know to create a business plan for your gym or fitness business.

If you've recently discovered an ambition to start a gym , or this has been your dream for years, we've got you covered!

The first step in your journey is to create a gym business plan. This will include understanding your business's structure, determining your target market and what sets you apart from other gyms (your unique selling point), forecasting future finances, and any further details about your venture.

Your gym business plan is the key to your success. It will help you make better decisions and attract potential investors. Creating a business plan is ongoing; it's not something you do once and then forget about. Your business plan should be flexible and adapt as you move forward. 

You have to consider many elements to ensure your gym will succeed. All stages of your business plan are critical. In this article, we'll be doing a deep dive into understanding the core essentials of creating a fitness business plan.

A boxing gym owner holding a clipboard, standing in front of punching bags.

What is a gym business plan? 

A gym business plan is a document that informs the reader about your company and where it's headed. In other words, it answers essential questions such as:

  • How does your business work?
  • How are you going to succeed?
  • What steps do you need to take to succeed?

According to research, entrepreneurs who write formal business plans are more likely to be successful . 

This is especially true for business owners seeking external financial support. A formal business plan can help new businesses by providing a clear focus for their ideas.

Why it’s important to have a business plan for your gym? 

Simply put, your gym business plan is an organized and detailed process that provides a roadmap for your business. If someone reads it – like a potential investor, for example – they should be able to understand how you expect the gym to progress and succeed over time.

Plus, putting together a business plan with detailed description forces you to take a critical look at your operation as it currently stands and identify room for improvement or new areas of opportunity altogether.

Depending on where your business is located, a well-crafted business plan can serve multiple purposes.

Keep reading for even more reasons you need a business plan from day one!

Two people working in front of a laptop.

Taking advantage of a steadily growing industry

The gym industry is booming, allowing gyms to capitalize on this growth. In the US alone, over 87 million people regularly attend the gym and spend billions of dollars annually on membership fees.

And according to projections, the global gym market is expected to reach 434 billion USD by 2028 – a 171% increase from 2021! This steady growth provides room for gym owners to get in on the action and reap the benefits.

By having a gym business plan that considers the health & fitness industry as a whole, you'll be able to capitalize on this growth.

Ensures your business idea is feasible 

If you're considering starting a fitness business, know it will be complex. You have a fantastic idea and think it could take off--but how can you test that theory without launching the business? 

This is where a business plan comes in handy. By working through your concept and creating a well-rounded plan of action, you'll be able to figure out key details like numbers, market trends, and what your competition is doing and save yourself loads of time down the line.

It helps to bring in investors and secure funding 

To secure funding for your gym business from investors, you need a comprehensive business plan. This document helps startup businesses obtain the initial capital they need and provides established companies with funds for expansion.

Would-be contributors usually request substantiated data— such as numbers backed up by facts and figures—before deciding whether or not to invest in a project.

If you don't have a business plan, chances are slim that you'll receive money from sources like investors, banks, or other financial organizations outside your company.

Set and reach goals, both big and small 

Having long-term and short-term goals is a great start, but it's time to take the next step. A successful business plan will contain specific tactics on how you plan to achieve your objectives. 

This might be through your business model, acquiring equipment, hiring new talent, or marketing campaigns.

A successful business needs a clear plan to achieve its goals. Breaking down important goals into smaller, more manageable pieces would be best. 

And remember-- as your business changes and grows over time, so should your plan. Keep it updated regularly. 

Business planning is no longer a daunting task

A business plan is a vital tool for new and established businesses. It provides direction and helps to set the foundation for a successful start. 

By budgeting, analyzing your market, and setting out your goals and strategies, you can make more informed decisions about how to proceed. This process also makes it easier to track your progress over time and assess whether or not you are on track.

Something to consider before creating a gym business plan

Consider the cost of starting a gym. There are many potential expenses, such as equipment, personal trainers, class instructors, insurance policies, property fees, etc.

Also, consider how much time you are willing to invest in this venture – especially during the beginning stages when there is likely to be a lot of work involved in getting everything up and running smoothly.

It can be challenging to maintain a good work/life balance when starting any business; it will probably require working additional hours outside of your usual schedule.

Money and time are essential, but there are other things you need to be successful. 

People skills, marketing know-how, and financial smarts are essential if you want to succeed in the gym business world. It's not going to be easy, but it will be worth it if this is your passion. A solid plan is the first step toward making your dream a reality.

The 11 key elements of a detailed gym business plan

Before you develop your business plan, think about where you are and where you want to see yourself. Keep this vision in mind, as it will help guide you through writing your business plan. There will be countless opportunities wherein consulting your business plan will assist you in making a decision.

To create an effective health club business plan, you will need extensive research on your fitness industry, competitors, and future finances. 

Following these 11 steps, you can build an excellent gym business plan that covers all aspects of your health club.

Step 1: Executive summary

Your executive summary needs to be clear and concise while also grabbing attention. What you want readers to know is:

  • Your mission/purpose
  • How you'll achieve success (What will make you a success story?)

And finally, your vision for the future. Though it may seem tempting to hurry through this section because it is shorter than other parts of the business plan, don't rush! 

This is your chance to shine and explain what makes your company special. Don't worry if you feel like you have more to say about your goals and vision. You can expand on these topics in your company overview.

Step 2: Company overview

Your company overview is where you get to sell your gym and its potential. Build on your executive summary's vision and mission statement, delving deeper into what makes your gym unique. 

Think of your vision statement as a tagline for your future website. When outlining the purpose of your gym, which audience it will cater to, and how you plan to achieve business goals, also consider including the following: 

Your personal mission statement for the business- i.e., what outcome do you hope to see?

Then, give your readers some information on your background:

  • What have you done in the past?
  • Have you had any other businesses?
  • What is your current status?

This is helpful for investors and partners to know so they can understand where you've been and where you're going. The more they know about you, the more trust they'll have in you.

Step 3: Services and amenities

Outline your strategy in detail: what services you'll offer and how you will develop new offerings. This includes if you need to hire someone or build a facility, such as a spa or a studio. 

This information will help you realize when or where your business requires more funding and extra staff.

By describing your products and services, you can gain valuable insights into your gym's size. Test your vision to determine if you have the necessary funding for these assets. If not, consider how you might acquire the required financing.

A picture of a well-equipped gym.

Some potential products you could invest in are: 

  • Gym equipment like treadmills and rowing machines 
  • Specialist equipment to cater to different types of gym-goers, such as bodybuilders 
  • Food and drinks like energy drinks or healthy foods 

And services like: 

  • Personal training sessions 
  • Group classes like yoga, spinning, or body pump 
  • Lockers for storing belongings while working out 
  • Spa amenities like saunas or massages 
  • A swimming pool 
  • Physiotherapy

Furthermore, thinking about increasing your market share is a significant next step. You could start by offering pro bono services at local workplaces and schools, eventually introducing a fee.

This way, you can attract larger customers while still providing value.

When creating a business plan - be it for a gym or something else entirely - remember that its purpose is to lay out your objectives easily for potential bankers, partners, employees, and investors.

Step 4: Management team

It is essential to consider the positions you'll need to fill and how these people can help your gym succeed. 

You should write a summary emphasizing their skills and management experience while incorporating what they will be responsible for and any incentives you plan on offering.

Furthermore, creating an employee ladder is vital to establish who or what each new hire will report to so your business can secure its success.

Step 5: Market research and marketing strategy

Marketing is a field where creativity can shine. It's all about identifying different groups of people who would buy your product, coming up with reasons why they should choose you over others, and figuring out ways to get more sales.

Learn more:

Gym marketing strategy

Gym promotion ideas

Gym membership pricing

Best gym features

Even if marketing your fitness business isn't your favorite thing, remember that your marketing strategy will help you lay out a plan for expansion if you do it right. Your first target should be to summarise what you found in your market research. Are you still stuck? 

Consider where you are situated, similar businesses nearby, and who makes up the community around you.

Define your target market here. It could be

  • Working professionals
  • Senior executives

Or a particular group, like cyclists. After that, try to understand why this specific demographic would join a gym – for example, are they looking for cardio?

After you have completed your market research, take some time to understand your target audience. Ask yourself the following questions:

  • How can I make this customer base loyal?
  • What makes my company unique?
  • What's the best membership package I can offer?
  • Is there a need for special equipment or offerings?

In your plan, identify and communicate what makes your business valuable and unique. 

This is called a Unique Selling Proposition (USP), and it will help instill confidence in potential investors that they are making a wise choice by investing in your company. 

Furthermore, detailing marketing strategies in this document provides peace of mind that future income streams are lined up and secure.

There are many marketing strategies you can use to grow your business, including:

  • Improving your services
  • Advertising and sponsorship
  • Loyalty plans and website promotions
  • Email marketing campaigns
  • Investing in new equipment or technology

Step 6: Competitor analysis - Understanding direct and indirect competitors

To do a competitor analysis, research businesses in your field that offer similar services. These are your direct competitors. 

You can mention indirect competitors, but this section is mainly for an in-depth look at businesses like yours. Depending on your business type, you could have brick-and-mortar and online rivals.

When investigating a competitor, these are some critical areas you'll want to focus on: 

  • Services and products they offer 
  • Target audience 
  • Pricing and business model 
  • Strengths and weaknesses

gym business plan in the philippines

Step 7: Create comprehensive financial projections

Starting a gym requires careful budgeting. Make sure you consider every possible purchase and estimate the cost of each item.

The following are key areas to cover when starting your business:

  • Lawyer fees
  • Recruiting expenses
  • Constructional endeavors
  • Exercise equipment for the workplace
  • Three months' worth of bills and other operational costs
  • An accounting software

It's time to be practical and ascertain how much money you will need to open your gym and make it thrive. This way, you'll get a better understanding of what falls within your budget and what will require additional funding.

Next, you need to prove to investors, stakeholders, and employees that you have a feasible plan for attaining ROI. 

Consider revenue streams such as classes, services provided, and product sales- anything that brings in money. Set down an estimate here based on research and expert opinion.

If you're looking for ways to make money, selling healthy food could be a great option. You could create your protein shakes or energy bars, for example. 

If you plan to sell food, ensure you stay up-to-date with food hygiene standards.

Step 8: Financial forecasting

Your sales forecast for your business's first, second, and third years should be detailed. Specifying the number of active members, you estimate for your first year would also be beneficial. Estimate using:

  • Unit sales per month
  • Any relevant past data
  • How purchases will be broken down (as specified in financial projections)

Step 9: Financial strategy

How can you use your fees in a way that will increase customer registration? For example, if all the other gyms in your area charge higher prices than average, this could be an opportunity to set your business apart by being financially conscious (lowering membership fees or having better offers than competitors).

Consider ways to show your appreciation for loyal customers, such as discounts or complimentary services.

Furthermore, if you're in the process of creating a gym and spa business plan, consider adding discounts for those who use both facilities. For example, many people would love to take advantage of the jacuzzi after working out.

Writing your pricing strategy down will help give you peace of mind about what's to come for your gym.

Step 10: Payment option

An easy and accessible payment system is crucial for any business, let alone a gym. To retain customers , ensure your payment processing is up-to-date and user-friendly. 

Let potential investors know what platform you're using or planning to use, so they can see that you're taking customer experience seriously. A positive buyer experience will encourage loyalty among your clientele.

Step 11: Funding

Make it clear where your business will obtain the extra startup capital it needs. 

This is a chance to be practical about your company. Can you realistically obtain the funding required to reach your targets? Or do you need to readjust your plan?

Below are some vital external resources that might provide the necessary funding:

  • Loans from friends or family members
  • Crowdfunding campaigns
  • Business partners or sponsors

If you are looking to gain investors, be sure to detail where the funding for your project will come from and how much of a return they can expect. You should also include any previous loan applications related to this venture here.

You're almost there!

Now it's time to put all the elements outlined above into a gym business plan. This plan will be a reference point when you need to make tough decisions, help secure investment, and show direction to new employees or partners.

A picture showing a planner and a pen.

Your next steps to successfully run your gym

Here's a personal checklist to help you ensure that you have everything covered before you open your gym. Use it as a reference point throughout the development process to ensure nothing is overlooked.

  • Write a business plan
  • Register business
  • Apply for a business license and permit
  • Open business bank accounts
  • Select an online payment platform
  • Obtain taxpayer's ID
  • Purchase insurance
  • Rent/purchase facility
  • Purchase/rent equipment
  • Secure funding
  • Recruit employees
  • Drafting contract documents along with any other legal documents required
  • Design company logo
  • Develop website
  • Write website content
  • Create social media accounts
  • Design leaflets & brochures
  • Organize branded uniforms
  • Launch party

Any business, no matter how big or small, comes with its fair share of challenges. However, the payoffs in the end always make it worth your while

Starting a gym can be an exciting and rewarding venture. However, it is important to ensure that you are well-prepared with all the necessary information before you open your gym. 

A comprehensive Gym Business Plan detailing the market research, financial projections and strategy, services and amenities, management team, and more should be developed to ensure success. 

Additionally, obtaining the necessary licenses, finding and hiring trainers, investing in the right equipment , and appealing to members with friendly incentives are all important steps.

Gym business plan template & examples

In addition, we've gathered a few of the gym business plan templates and examples below. These samples will provide you with suggested language for your own document as well as guidance on what to include.

Adam Fitness Centre

Grow think's template

PAWSitively Fit Club

Ecogym business plan

Capital Health and Fitness Club

Frequently asked questions on good gym business plan

How can i start my own gym business.

Follow these steps and understand gym business plans:

  • Choose your area/location
  • Develop a comprehensive business plan
  • Apply and obtain all necessary licenses
  • Find and hire certified trainers
  • Invest in the right equipment for your business
  • Appeal to members with friendly incentives

How do I write a business plan for a gym?

To write a gym business plan, you can implement the steps below:

  • Executive summary
  • Company overview
  • Services and amenities
  • Management team
  • Market research and marketing
  • Competitor analysis 
  • Financial projections
  • Financial forecasting
  • Financial strategy
  • Payment option

What type of gym is the most profitable?

Out of the gyms surveyed in November 2020, 69 percent of CrossFit gyms were profitable, while half of martial arts gyms reported being in the black.

Is owning a gym a good business?

Owning a gym can be profitable, but you will need more time to make yourself rich. To succeed in this industry, you must put in the effort.

Do gym owners make money?

According to ZipRecruiter, an American jobs marketplace, gym owners in the United States will earn an average of $69,472 annually as of June 2022.

Do gyms make a lot of money?

A gym that is managed efficiently and has a good mixture of members can generate quite a bit of money. For example, if a gym has 1,000 people paying $50 monthly, the gym could bring in $50,000 each month. And if the monthly expenses for the gym are $20,000 per month, the profit would be $30,000 per month.

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How To Start a Business in the Philippines: The Complete 15-Step Guide

How To Start a Business in the Philippines: The Complete 15-Step Guide

Here’s the cold harsh truth about employment:

It’s a rat race and even if you win it, you still end up a rat.

A rat with no control over his schedule, income, and projects to work on.

I’m not saying everyone should leave their jobs en masse. Some people consider their jobs as a vocation and can’t imagine doing anything else.

But for others who are yearning for more freedom and feel stuck at their current jobs, there’s a great alternative–entrepreneurship.

The best part is you don’t have to start big. Even with a small capital, you can open a business in the Philippines and make it profitable through smart planning. This article will teach you exactly how.

How To Start a Small Business in the Philippines With Small Capital: A Step-by-Step Guide

Great things start from small beginnings.

When they started their businesses around WWII, Max’s Restaurant and National Bookstore were deprived of advantages. But with sheer persistence and great strategies, they eventually became household names.

The same is true for almost all the famous brands we recognize today.

Therefore, whether you want to supplement your current income or become your own boss someday, the only way to go big is to start with a small business.

Small business or small-scale enterprise is one that hires few employees and has a relatively smaller asset size.

In order for a small business to qualify for government assistance and incentives, it should have capital assets amounting from Php 3 million to Php 15 million and with employees numbering from 10 to 99 workers 1 . Anything below these levels is classified as microenterprise while businesses that exceed them are known as medium- to large-scale enterprises.

However, the consensus today is that micro, small, and medium enterprises all fall under the general term “small business”.

By starting a small business in the Philippines, you as the owner will pretty much wear several hats–from marketing and finance to production and management.

Hence, it’s crucial to arm yourself with knowledge about all these fields especially at the beginning when you still don’t have the means to hire specialists.

This article will teach you how to start a business in the Philippines with a small capital, no business experience, and little or no college education.

Let’s get the ball rolling.

Step 1: Know your “Why.”

how to start a business in the philippines 1

Holocaust survivor Victor Frankl wrote in his book that “those who have a ‘why’ to live can bear with almost any ‘how'” .

Starting a business may not be as tragic as a Holocaust but it is certainly not a walk in the park either.

On one side, owning a business gives you unlimited opportunities to earn money , be your own boss, explore your creativity, help others, and build a legacy.

But there’s another side to the entrepreneurial coin: the risk of failure.

In addition to that, starting a business in the Philippines where unpredictability abounds will push you to go beyond your comfort zone. Success won’t come easily. Long hours of work, missed family times, and sleepless nights will hound you especially during the early stages.

And did I mention you’ll be juggling a lot of hats so you’ll be responsible not just for the welfare of your family but also for the livelihood of your own employees?

So, before taking the plunge, test the water first.

If you only want extra income , don’t resign from your job and look for a part-time job instead. But if you want complete control of your destiny, then it’s time to plan your exit. It doesn’t matter if you take baby steps; what’s important is you carefully weigh the risks and rewards and then make a decision based on your own judgment.

If you get discouraged, look at yourself in the mirror and ask the big “Why?”

As long as you know your purpose for starting a business, you can weather any challenges that life may throw at you.

Step 2: Understand What It Takes To Succeed in Entrepreneurship

how to start a business in the philippines 2

You don’t need an MBA to start a profitable business in the Philippines.

However, life-long learning is at the core of successful entrepreneurship. You learn best from your own failures and the mistakes of those who came before you.

Another way to hone your knowledge is to take free or paid training courses designed for beginners. For example, the Philippine Trade Training Center (PTTC) and the U.P. Institute for Small-Scale Industries offer “start your own business” programs that will teach you basic principles of running a business.

We also recommend the following training centers/courses:

  • Businessmaker Academy (1503A West Tower, Philippine Stock Exchange Building, Exchange Road, Ortigas Center, Pasig City).
  • TESDA Online Entrepreneurship Training Program .
  • Ultima EntrePinoy Center for meat processing, baking, and other food business courses (Nutrition Foundation of the Philippines Building, 107 E. Rodriguez Sr. Ave., Quezon City).
  • Department of Trade and Industry Negosyo Center – Seminars and Workshops .

Entrepreneurial success takes more than just technical knowledge. Your business can only grow to the extent that you do . Hence, it’s important to also invest in personal development if you want your small enterprise to prosper.

According to Management Systems International 2 , there are attributes common among successful entrepreneurs that led them to the success they have today. These characteristics can be grouped into three clusters–Achievement, Planning, and Power.

Achievement cluster

  • Opportunity-seeking – the ability to see opportunities and seize them as they come. For example, when people from your hometown are craving for donuts and there’s no single donut store that has been put up yet, will you be quick to act on this opportunity? An opportunity-seeking business person certainly would.
  • Persistence – a trait that will allow you to stick to your vision even in the face of criticisms and failures.
  • Commitment to contract – which means getting the job done on time and honoring your promises without any excuses.
  • Risk-taking – or more specifically, taking calculated risks to minimize potential losses. A good business person doesn’t just invest in any venture without carefully studying the market and identifying flaws in the business model.
  • Demand for quality and efficiency – a characteristic of great entrepreneurs who uphold excellence in everything they do and don’t just settle in a “puwede na ‘yan” attitude.

Planning cluster

  • Goal-setting – a skill that enables you to clearly define your goals and withstand the pressures and struggles of today in the name of achieving these goals.
  • Information-seeking – a quality you need in order to come up with informed decisions and calculated risks. When the future of your business is at stake, you gather only the best information from all the best sources–suppliers, experts, competitors, banks, and even government agencies.
  • Systematic planning and monitoring – while planning gives you the opportunity to choose the right supplies, manpower, and materials to achieve your goals, monitoring allows you to fine-tune your plan to bring you closer to achieving your goals.

Power cluster

  • Persuasion and networking – if you know how to leverage the power of persuasion, you can literally make everything you want to go in your favor: from persuading the bank to give you a loan to convincing your buyers that your product is worth a try.
  • Self-confidence – if you don’t believe in yourself and your ideas, then no one else will. You can’t succeed in any undertaking if you have a deflated ego. Believe in your dreams and everything else will follow.

Step 3: Come Up With a Business Idea

how to start a business in the philippines 3

Every successful business starts with one idea.

The problem, however, is many people think that a million-peso idea only shows up in a select few; it’s either you have it or you don’t.

While it’s true that some successful entrepreneurs got their ideas by accident, they are exceptions rather than the rule. For most of us, a winning business idea won’t magically fall into our laps so we have to look for it ourselves.

To start generating a list of business ideas, ask yourself the following questions:

What are the things you’re interested in?

Running a business can be tedious in the long run so you might as well choose a business that is in line with your interests.

Don’t worry if the idea has already been taken. Your goal, after all, is not to be original but to explore an already existing idea you’re interested in, turn it on its head, and make it better than what’s already out there.

Instead of trying too hard to be original, find ways to dominate an already existing market by offering better, cheaper, or faster products or solutions.

Do you have pain points in your life or problems that bother you that you wish could be solved?

Famous entrepreneur and Internet personality Gary Vaynerchuk believes that the best way to find the next great business idea is to stop looking 3 .

Instead, go through the daily grind of life with an open mind so that you can zero in on things that bother you when you encounter them. Chances are, you’re not the only one experiencing the same problem so if you figure out how to fix it, then you have a potential business idea.

The key here is to always have a problem-first approach; after all, the world doesn’t need more products but more solutions to their everyday problems .

What are your core skills or the skills you’ve developed?

You’re more likely to succeed in a business if you have the experience, knowledge, and skills that it demands.

Look back at your employment history and note the skills you’ve developed over the years that you’re both naturally good at and you enjoy doing. These can provide clues on what kind of business to pursue.

And we’re not just talking about skills that you’ve developed in your previous jobs; those that you’ve learned outside work are equally important and perhaps more reliable in helping you figure out what business to try. Since you enjoy doing them without any incentive to motivate you, then you can potentially turn it into a business you’ll never get bored doing.

What businesses are currently booming/trending?

First of all, there’s a difference between a business fad and a business trend. Whereas a business fad enjoys initial hype but proves to be short-lived, a business trend lasts longer as the consumers don’t easily lose interest in the product/service.

Apparently, your focus should be on the trending businesses because more people doing it means the idea is very profitable. In the Philippines, trending business ideas fall in any of these three categories: Food, online, or service.

Food businesses either focus on food manufacturing (i.e., creating your own products from scratch like what Eng Bee Tin did and other big names with humble beginnings in their founders’ own kitchens) or food trading which involves selling ready-made or frozen products like siomai, shawarma, etc.

Online home-based businesses are mostly done by professionals who sell their services instead of tangible products. These include virtual assistants, freelance writers, social media managers, bloggers, bookkeepers, graphic artists, and many more.

Last on the list are businesses in the service industry that are now thriving as more and more people become busier. Some of the best examples are laundry businesses , transportation/delivery services, pet grooming businesses, photography businesses, and wedding and events coordination businesses, among others.

In addition to asking yourself the above questions, you can further increase the number of business ideas you generate by reading this article: 100+ Best Small Business Ideas in the Philippine with High Profit.

Step 4: Conduct Market Research

how to start a business in the philippines 4

Starting a business without doing market research is akin to entering an unfamiliar territory without any map to guide you.

But what exactly can you achieve with market research? The answer is knowledge. A wealth of information and insights about who and where your customers and buyers are; when they’re most likely to buy or use your product/service; who your competitors are; and how big is the potential market demand for the product/service you’re currently developing.

In other words, everything that can help your business start off on the right foot.

This step has three components:

  • Market segmentation;
  • Market research;
  • Competitor analysis.

To begin your research, you have to know first that your business doesn’t necessarily need to appeal to everyone . It’s easier to focus on one segment of the market first and then expand later on.

In order to find this target market, you need to divide the general market into smaller subgroups. Also known as market segmentation, this process involves grouping the market according to location, demographics, behavior, or other variables that make sense for your business.

Let’s say you’re planning to develop and sell a mobile phone. You can find your market either at shopping malls or online shopping sites where mobile phones are being sold.

Through market segmentation, you can divide this market into different groups according to their motivations in buying a mobile phone. There are the housewives who only need phones with the most basic features since they’re only using them to call their loved ones; the students who look for phones with cameras and other features that will help them with their studies; the yuppies who prefer phones with a flashy look and more features to meet their professional needs; and so on and so forth.

Another example would be a business that will manufacture its own soap. There’s a huge market for soap but what type of soap exactly?

With the use of market segmentation, you’ll be able to identify different segments of the market with varying demands for a specific type of soap. There are the buyers who want to achieve whiter skin; people with sensitive skin who want to get rid of their pimples; people who just want a skin-friendly moisturizing soap; those who want scented soaps; people who prefer herbal soaps; etc.

After segmenting the market, it will be easier for you to figure out which specific group or type of buyers will be the target of your marketing efforts.

Once you’ve identified your target market, it’s time to put it under the microscope and get to know your prospective customers a little bit better.

This is when the market research comes into the picture. You employ tools and techniques to reach out to your target market and discover what makes them tick.

And if the sound of “market research” intimidates you, don’t worry. Although big companies require an equally big budget to recruit a huge number of respondents for their market research, small entrepreneurs can also gain access to a wealth of valuable information about their target markets without breaking the bank.

The following are the most common techniques you can use to conduct low-cost market research:

1. Survey – is the old-school way of collecting data from a sample group that is assumed to be the representative of the whole. You can use this method to learn what people think about the products currently available in the market and how you can create a better one in terms of quality and price.

Just make sure the survey participants are neither your friends nor relatives because of the biased opinions they tend to provide.

The questions in the survey should explore the factors the respondents consider when buying; what they like or dislike about the current products in the market; the kind of improvements they would like to see; and the price of the product that is reasonable for them.

2. Observation – is probably the crudest form of market research but one that remains effective nonetheless.

It can be in the form of contextual observation where the entrepreneur pays close attention to a sample of the target market as they use or experience a certain product or service. Other entrepreneurs take matters into their own hands and do a mock journey where they put themselves in the consumers’ shoes by buying and using the product/service themselves.

3. Prototyping – known in layman’s terms as simply “taste test” or “sampling”, this method allows the entrepreneurs to put their minimum viable product (or the early version of their product, warts and all) out there and use the customers’ feedback to further improve the said product as they go along.

Market research is a critical part of your initial entrepreneurial journey as it will help you realize whether there’s a demand for your product or not and if there is, who is most likely to buy it, how many they are, where they’re located, and how you can promote your business to them.

It will also identify both your direct (i.e., businesses selling the same product/service) and indirect competitors (i.e., businesses selling different products/services but are in the same category as you).

Speaking of competitors, the competitor analysis is just as, if not more, important than the market research itself.

Not finding time to learn more about your competitors, what they offer, and how much they cost will put your business on the losing end. This is because competitive analysis helps you discover ways to give your business a competitive advantage which will effectively prevent your target market from choosing others over yours.

Aside from collecting and analyzing available data about your competition, you can also go the extra mile and buy your competitor’s products to test them yourself. This way, you can once again put yourself in the customer’s shoes and gain ideas on how you can improve their experience through a product that only your business can provide.

Step 5: Decide Who Will Run the Business

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Most starting entrepreneurs build their businesses on their own as a single proprietorship. However, entrepreneurship can be a lonely endeavor so there’s nothing wrong with starting a business with a partner or a group of people.

The following are the different types of business according to ownership and the pros and cons of each to help you decide which path to take:

  • Single proprietorship – is the most basic type of business wherein you basically run the whole show. While it’s easier to set up and you’re free from outside interference, this type of business is also the most demanding and puts you at high risk for burnout. The growth of your company is also limited by your financial means.
  • Partnership – a business owned by at least two parties, this is also relatively easier to set up than a corporation and has the advantage of having the check and balance maintained by the co-owners. Businesses under a partnership tend to grow faster than sole proprietorship since there is more than one investor. However, more owners mean more chances of having a conflict.
  • Corporation – is a business run by at least five people. Like a partnership, a corporation can also grow faster because of the number of shareholders and is also highly flexible because all the owners can share the responsibilities. The downside is corporations are taxed more than sole proprietors, more difficult to set up, and have a tendency to institutionalize a bureaucracy.

To help you further in deciding which type of business structure to pursue, I recommend reading this section in our business registration guide . It contains crucial information on how to choose the right business structure based on your intention, risk appetite, capacity to raise capital, and other factors.

Step 6: Write a Business Plan

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Ever heard of the saying “if you’re failing to plan, you’re planning to fail?” Nothing can prove this better than starting a business where your own (or your investors’) hard-earned money is on the line.

This is why writing a business plan is crucial regardless of the size of the business you’re planning to start.

A business plan is a document that will show how your business will evolve from start to finish . It offers a closer look into your business model and helps identify any loopholes in its profitability, thereby giving you a clearer picture of whether the business is worth pursuing or not.

Specifically, a business plan will help you accomplish the following:

  • Prevent or eliminate the risk of losing money invested in businesses that are proven to be lacking in demand.
  • Reduce total expenses that would not have been possible without a business plan to help you examine details that are easily overlooked. Remember, every peso counts when you’re starting a business in the Philippines so you don’t want it to be wasted on something not essential.
  • Establish a healthy cash flow for your business especially during the lean and peak months. Cash is king when it comes to running a business for without it you’ll always be on the verge of bankruptcy . Through a business plan, you can create a contingency plan to make sure your business will stay afloat when the demand slows down and will be prepared enough to handle increased demands during peak seasons.
  • Set goals in terms of the total number of sales, revenues, or expenses and measure the actual performance of your business against these set goals.
  • Convince investors or lending institutions to lend you money to start your business. No sane person will easily hand you the capital for your business unless you can provide a well-thought-out business plan containing details on how the business will work and earn back the initial investment.

If you truly know your business inside out, it’s not that hard to write your own business plan. The more complicated and larger the business, the more pages the business plan would require.

Should you need assistance in writing a business plan, you may approach the following people/institutions:

  • SME Counselors from the Department of Trade and Industry (DTI);
  • Freelance consultants who charge lower fees than consulting firms because they don’t deal with big overhead expenses;
  • Accountants/bookkeepers;
  • Business professors;
  • Extension offices of business schools like Baguio’s St. Louis University Extension Institute for Small-Scale Industries.

As for the content of the business plan, it must depend on what kind of enterprise you’re planning to start. No two businesses are alike so the business plan should be written according to the uniqueness and conditions of your business.

In general, however, the following sections are considered basic components of a good business plan:

  • Title page – contains the name of your business and other basic details of your enterprise.
  • Executive Summary – provides an overview of what the company or business idea is all about, the problem the business is going to solve, the solution your business will provide, and how it will fit into the marketplace. This section will give investors an idea of whether to invest or not so make sure to leave a great first impression.
  • Business description – explains the type of business you’re planning to start, the industry it belongs to, and what it will look like in the future.
  • Market strategies – describe how big the market you’re trying to penetrate, who your target market is, and how you plan to sell to this market.
  • Competitive analysis – explores who your competitors are, their strengths and weaknesses, and how your business stack up against them. Essentially, this section shows what makes your business different from everybody and how you’re going to use this to beat your competitors.
  • Design and development plan – determines what exactly is your product or service and how you will develop it over the short term, medium-term, and long term.
  • Operations and management plan – describes how a day in your business will look like.
  • Financial plan – discusses in detail where the money to fund your business will come from and whether it will be self-funded or financed by outside investors. It also covers the projections you should create and what factors you should take into consideration; how much financing you need to start the business; how long it will take to pay back the investments (ROI); how will the ownership be divided, if applicable; and your backup plans in case profits or the demand for your business dries up.

When writing your business plan, keep in mind that nothing is final. It’s a living, breathing document that you can update every now and then as your business evolves.

Step 7: Build Your Product/Service

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Now that you have a business plan, you can start developing your minimum viable product. This is the earliest version of your product that you’ll introduce to your target buyers. You’ll then use their feedback in order to improve the product prior to mass production.

Even if you’re a perfectionist, it’s virtually impossible to create the perfect product or service right off the bat. So instead of succumbing to analysis paralysis, just release the first batch of your product into the wild and let the feedback dictate what changes you need to make.

Whether you’re planning to sell handicrafts, homemade cakes, or something more complicated, there are important aspects of product development you just can’t afford to take for granted. These are the following:

1. Process . Review the different steps that it will take to create your product. Are all of these steps necessary or can you remove some of them to save on costs without sacrificing product quality? What are tools and equipment will you need and how many skilled workers are needed to operate them?

2. Machines and equipment . Determine the things you’ll need to create your product, how much they are, and where are the best places that offer quality products at a minimal cost.

There are also some considerations to make depending on what type of business you’re going to start. Whereas a simple crafts business may only require hand tools and inexpensive machines, an Internet café will require specific computers with features that are completely different from those intended for personal use.

3. Materials . Know where and how you’ll get the materials you need as they will determine the pricing and eventually the profitability of the finished product.

For example, if your supplier is far from your business plant or location, and the transport facilities in the said place are limited, it will not only result in production delays but also additional manufacturing costs that will then jack up the price of the product.

However, it doesn’t mean you should just settle for the cheapest materials. Remember, don’t make a final decision based on price alone 4 as the reputation of your business is on the line.

To find the best deal, you can search online, get industry recommendations, or attend trade shows, among others.

4. Design . The product and the packaging must be able to get someone’s attention within the first few seconds of him/her glancing at them. The packaging should have a clean design, legible text, and clear branding that people recognize even from several feet away.

5. Pricing . Determine a reasonable price for your product/service by factoring in all the overhead costs. Make sure you have a good profit margin otherwise you may need to reduce the manufacturing costs (instead of increasing the product’s price) in order come up with a price that doesn’t turn off buyers.

The price of the product is also determined by the marketplace; if similar products are within a certain price range, then your product’s price should not veer off too much away from it if you want to capture the same market.

6. Trademark filing . Protect your business from copycats through trademark registration. You can either do it by yourself via the Intellectual Property Office of the Philippines (IPOPHL) website or hire a trademark lawyer to handle all the paperwork on your behalf.

Step 8: Get Feedback for Your Product

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In the process of developing our product, we tend to be blinded by our own awesomeness that we forget what actually matters to those who will buy it. This is when feedback becomes very valuable.

Even if you’re only selling a humble kakanin , customer feedback will spell the difference between a profitable business and one that won’t earn repeat buyers.

Your aim is to get honest feedback from actual buyers (a.k.a strangers and not your close friends/relatives) so it won’t hurt if you offer free or discounted products in the beginning.

If you’re selling clothing items, on the other hand, you can sell beta versions of your products in small batches at first and let the customers order through your social media or website. These first few buyers can get your products at a discounted price in exchange for their feedback on the fabric, color, fit, comfort, and other areas of improvement of your product. Done right, these early adopters may turn out to be your first few brand advocates later on.

Through the strategy discussed above, you can get the product to your prospective customers’ hands faster instead of aiming for perfection that can never be attained, especially sans buyer feedback.

This principle, also known as Lean Startup 5 , can be applied to most businesses but most especially to startups that can’t afford to have a long incubation period for their products. Instead of being held back by perfectionism, they push out the early version of their products to the market in order to get that coveted feedback that will then propel those products into a series of improvements.

When collecting feedback from your prospective customers/buyers, remember these tips:

  • Be thankful for the feedback regardless is it’s a positive or a negative one. This gesture will not only earn you their respect but also encourage them to continue providing honest opinions which you need the most.
  • Dig a little bit deeper to learn what the negative feedback is all about. If someone doesn’t like your product, he or she is most likely referring to one aspect of the product and not its entirety. Ask questions to figure out whether to improve a specific flaw or just scrap the whole idea altogether.
  • Look for patterns or the same comments given over and over again. Your customers know what’s best for them so if they’re specifically pointing out the same complaints, then address them as soon as you can before mass-producing your products.

Step 9: Look for Funding

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Regardless of the size of your enterprise, you need money to get it started.

If you’re only selling home-cooked meals or desserts, you probably don’t need as much capital and you can start with whatever money is left in your savings account. No need to borrow money since you can get all or a portion of your profit and then reinvest it into your fledgling home-based business.

The same can’t be said for startups or huge businesses like restaurants that require large upfront capital. Aside from your personal savings, you may also need to go through several rounds of investing in order to get the business off the ground.

Here’s a list of different financing options in the Philippines you may consider to raise funds for your budding business:

1. Your own money. Using your life savings or proceeds from the sale of your personal assets is the safest way to finance your business. Since the money will come out of your pocket, you’ll be more in control of your destiny and retain 100% of your equity.

2. Friends and family. If your own money isn’t enough to raise the needed capital, you may also turn to your well-off friends and relatives with enough cash reserves. The advantage of borrowing from them is you’ll get relatively lower interest rates and more flexible payment terms compared to bank loans.

However, if you still fail to raise the needed funds after exhausting your own savings and borrowing money from friends and/or relatives, then it’s time to consider outside sources.

3. Government financing programs . The Philippine government is aware that small businesses are the backbone of the economy so they have established loan/credit programs to support our entrepreneurs.

Financial assistance is offered by different government agencies which include, but are not limited to, the following:

  • Department of Science and Technology (DOST) and the Technology Resource Center which offer financing program for small businesses that are technology-related;
  • Department of Agriculture ‘s Agri-Microfinance Program or AMP which is designed to provide financial relief to farmers and fishermen (and their families) in drought- or calamity-stricken areas;
  • Department of Social Welfare and Development ‘s Sustainable Livelihood Program or SLP which seeks to improve the welfare and development of marginalized families through livelihood strategies.

For a comprehensive list of banks and government offices that offer financing programs for micro, small, and medium enterprises, you can check out the free ebook 6 published by the Bureau of Micro, Small, and Medium Enterprise Development (BMSMED) in collaboration with DTI.

The Philippine government-owned LandBank of the Philippines also offers lending programs 7 for those who are involved in the agricultural industry. These are the following:

  • Cacao 100 (Credit Assistance for Cacao Agri-Business and other Organizations) – offers loan assistance to farmers and entrepreneurs with the main goal of catalyzing the growth of cacao output in the Philippines. This is a good choice if you’re looking to fund your cacao nursery, cacao plantation, and all the processes involved in cacao beans processing.
  • Agricultural Credit Support Project (ACSP) – suitable for agri-businesses needing additional funding to support increased production or business expansion. This is ideal for entrepreneurs who are seeking financing for their fisheries, farm equipment, agriculture-related services, and agricultural product distribution.
  • KAWAYAN ( Kalikasang Kabuhayan para sa Wastong Pamayanan ) – this program provides financial assistance for farmers, LGUs, and entrepreneurs who have businesses involving bamboo nursery, bamboo plantation, trading, and eco-tourism.
  • ISDA (Integrated Support for the Development of Aquaculture) – is a program established to help small fishers as well as small and medium enterprises.

For more information about LandBank’s lending programs, you may contact their customer care center at (02) 405-7000, visit the nearest LandBank Lending Center, or send an email to [email protected]

4. Angel investors or Venture Capital investors . Another alternative source of funding is individuals or groups of individuals who already have the intent to invest.

Angel investors are established and wealthy individuals who use their personal money to invest in their chosen startups. The Angel Investment Network is a great online platform that enables you to find individual investors in the Philippines who can relate to the vision of your company.

Venture capital firms like Kickstart Ventures , on the other hand, is composed of a group of professional investors that pool together all the money coming from individuals, corporations, foundations, and pension funds and then invest them to startups of their choice, the majority of which are businesses dealing with technology and science.

5. Startup incubator or accelerator . The thriving local ecosystem has prompted the launch of several startup incubators and accelerators, most notable of which are the IdeaSpace Foundation, Launchgarage Inc., and QBO Innovation Hub, among others 8 .

The goal of these companies is to provide support to startups (mostly technology or fintech companies) in the form of office facilities, consulting, pitch events and equity-free seed funding that will help get their enterprises off the ground.

6. Banks . There are SME-friendly banks that lend money to entrepreneurs despite the risks associated with small businesses. Just make sure you comply with their requirements and show enough proof (including a business plan) that you have a clear vision for the business you’re going to start.

Examples of local banks known for supporting small businesses include the government-owned LandBank of the Philippines, the Development Bank of the Philippines, Metropolitan Bank and Trust Company, and the Planters Development Bank.

Related: Best Banks in the Philippines

7. Pitching competitions . Early-stage businesses can also get funding by joining televised pitching competitions like The Final Pitch and the upcoming reality show “Project GO” 9 sponsored by GoDaddy Inc. and to be aired on AXN.

These reality shows will require qualified contestants to pitch their business ideas in front of a panel of esteemed Filipino business experts and investors (think Shark Tank ). Since they’re joining a reality show, investment decisions will not be made unless the entrepreneurs go through a series of entertaining challenges first.

Prizes for winning contestants may be in the form of funding in exchange for partial ownership of their businesses or equity-free funding to help jump-start their ventures.

8. Other sources of financing . Small business owners can also consider the following when seeking credit assistance:

  • Pawnshops – the ideal choice if you’re only looking for quick cash. You can get the money you need by pawing your jewelry, gadget, or other valuables and then pay back the amount along with incurred interest.
  • Credit cooperatives – popular especially in rural areas, the credit coop can lend you an amount up to five times bigger than what you initially deposited when you joined. Unlike banks, credit coops charge a significantly lower interest rate for your loan.
  • Lending investors – a cross between banks and money lenders, these companies offer short-term loans to small enterprises with interest rates of usually 3% to 5% a month–higher than those offered by banks but lower than those charged by money lenders.

Step 10: Formulate Marketing Strategies

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In a nutshell, marketing strategies refer to how you’re going to convince or influence your target market to buy your product or services.

Your marketing strategies can be summarized into four key components. Let’s go over them one by one.

1. Product strategies – revolve around the product itself and how it will be perceived by your target market. It starts with good branding which is the design, reputation, name, logo, or a combination of these that make your product or service different from other similar products/services in the market. Consistent branding must also be present in the product’s packaging and labeling.

However, an excellent product can only go so far; you also need to invest in product support which is a catch-all term for all warranty, delivery, installation, and other services that come with the purchase of the product.

2. Place strategies – focus on how you want to bring your product or services to your target market. Depending on your business, you can use traditional or modern distribution channels (or even both).

Traditional distribution channels exist in the form of kiosks and brick-and-mortar stores where face-to-face interaction between the buyer and seller can cultivate a long-term buying relationship. New distribution channels, meanwhile, are those that don’t necessarily require an in-person interaction since the transaction can easily be completed via phone or the Internet.

Your choice of distribution channels depends on your target market’s preference and behavior, competition, as well as the current state of the market (think the 2020 pandemic that has forced restaurants and a lot of businesses to shift to e-commerce).

3. Price strategies – cover everything that concerns the price tag for your product.

How you price your product can make or break your business. Therefore, ensure you price your product or service in a way that will keep your business profitable while meeting the needs of the target market.

To come up with a price, there are three factors you have to consider. First is the cost of making the product or service you’re selling. You can add the total cost you incurred in producing your product and then divide it by the total number of the products to determine the unit cost.

For example, if you spent Php 1,500 to bake 100 chocolate cookies, the unit cost would be Php 15 (1,500/100). As for the selling price, you need to add a markup which is a percentage of the unit cost that you think when added will sufficiently cover the direct (i.e., materials, labor, etc.) and overhead costs. Say the markup is 20%, and 20% of Php 15 is 3, then the selling price is Php 18 (15 + 3).

The second factor you have to consider is the competition. You will use the price they have set for a similar product/service as a benchmark when determining the price of your own. You may either go higher to make the target market perceive what you’re offering as higher in quality or lower to make an introductory offer and in so doing gain your first few fans.

Lastly, the current demand for the product/service you’re selling can also determine the selling price. Simply put, the higher the demand for the product that only a few businesses are offering, the higher the selling price becomes. Conversely, the lower the demand for a product with plenty of supply, the lower the price will be.

4. Promotion strategies – make up the core of your marketing strategies since these cover all the tools and channels you’ll use to reach out to your target market.

Remember that whether you’re using Internet ads or television commercials to promote your business, it’s important to convey your message in a way that resonates with your prospective buyers.

To do this, you must focus on highlighting the benefits and not the features of the products. People won’t care how many advanced technologies you’ve used to produce your product unless it offers solutions to their problems. If you’ve studied your market well, then you should know by now what keeps these people awake at night and how your product can address this.

Step 11: Register Your Business

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Now that you’re a few steps away from launching your own business, it’s time to legitimize it by securing all the required permits and registration documents.

Whether your business is a sole proprietorship, partnership, or corporation, you’re required by the government to register it. Doing so will allow your business to be legal in the eyes of the law, file tax returns, apply for government loans, and avoid incurring penalties.

The process of business registration in the Philippines can be long and frustrating. Fortunately, we’ve covered all the basics and condensed them into one easy-to-follow business registration guide in the Philippines .

Step 12: Find a Strategic Location

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Choose the right location for your retail business and you already have the battle half-won. But how do you pick a great location? Here are some guidelines you need to follow:

  • It should be near the source of raw materials. The main reason why some products are priced ridiculously high is that it costs a lot for the raw materials to be delivered to the business location. Therefore, putting up a business near the source of the raw materials (e.g., sugar millers near sugarcane plantation, food processors near fruit/vegetable farm) will bring the transport cost down and in so doing make the product price more affordable for the consumers.
  • It should be where the market is. In the same way that you save on transport costs by placing your business near the source of your raw materials, you should also make sure that the business is near and accessible for people you intend to serve. If the target market exists within the vicinity of your own home, much better since you can start a home-based business and save on rental fees.
  • It should be accessible to your employees and customers. Foot traffic is the lifeblood of brick-and-mortar businesses so make sure the place where you’ll establish your store is easy to find, has plenty of public transport, and has available parking spaces for everyone. This strategic location will benefit not just your customers but also your current and future employees. A business near a good source of skilled labor won’t have a hard time finding new employees should the need arises and will also save on accommodation costs since they’re within the commuting distance of the business.
  • It must be in a place with a reliable and adequate supply of power, water, and Internet services . Even the slightest disruption in any of the aforementioned utilities can drastically affect your daily business operations so make sure you choose a location with an established infrastructure. If you’ll be renting a place, verify beforehand if the utilities are included in the lease so you won’t be caught off guard by any hidden charges.
  • It should be in a safe and peaceful environment. Building a business in a neighborhood notorious for looting and other forms of violence is a huge risk you can’t afford to take especially if you’re a first-time entrepreneur. Pick a place where established businesses have been thriving for decades and whose residents have high purchasing power. You also need to ensure that your business will comply with existing ordinances and zoning restrictions in your chosen community.
  • It must be in a decent and pleasant place. You don’t want to start a business in an environment that will drive prospective customers away so make sure to check the place for the presence of disagreeable things like smoke, noise, foul odors, dust, as well as proximity to places like bars and pub houses (unless your businesses are bars and pub houses).
  • It should be where a moderate number of your competitors are operating . The presence of competition can either be a good thing or not. If the place is full of competing stores placed one after another, it may be more difficult to stand out and penetrate the market. On the contrary, the absence of any competitor may be a telltale sign that the place is bad for business, especially if it has a history of similar businesses closing down or going bankrupt. In most cases, however, establishing your business beside one or two competitors can actually be a good thing since the presence of similar businesses in one place will attract more foot traffic.

Step 13: Form Your Dream Team

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A business won’t run by itself. It needs people to complete its daily operations.

As a business owner, it’s your responsibility to find and choose the right employees to join your dream team. If you own a retail business, the rule of thumb is to hire people who are highly approachable and have a positive attitude. A grumpy Debbi Downer is a liability that will cost you a lot of loyal customers.

Once you’ve found the right people, it’s time to train them well and incentivize them to do their best work consistently. In order to keep your employees motivated and committed to their jobs, not only should you pay them right but also treat them with the same respect and kindness you’d want to receive if you’re the employee.

Should you need assistance in providing technical training for your staff, the government can help you through various programs offered by the Technical Education Development Authority (TESDA), the Technology Resource Center (TRC), and the Department of Science and Technology (DOST).

When it comes to employees’ rights, there are a few important things you have to keep in mind to ensure you’ll be in good terms with your employees:

  • All employees, male or female, are entitled to equal compensation and work opportunities. Discrimination is not allowed in any way or form so you should not do unacceptable things like not hiring a woman just because she’s married or firing an employee just because she got pregnant.
  • Every employee should be assured security of tenure. You can’t dismiss an employee unless it’s due to a just or authorized cause. Termination can only be done after observing due process.
  • Employees are normally required to work for 8 hours a day . This 8-hour period already includes rest periods of less than an hour but excludes meal periods of at least one hour.
  • Employees are entitled to get a rest day after not more than 6 consecutive workdays. They can also file different types of leaves to take a break from work. These include the five-day Service Incentive Leave (SIL) with pay which can be availed by the employee after a year of service in the company; Maternity Leave which is granted to qualified female SSS members in anticipation of childbirth or due to abortion or miscarriage; and the seven-day Paternity Leave with pay for the male spouse of a woman who is about to give birth or has suffered from a miscarriage.
  • Employees must be paid the right wage commensurate to the amount of work rendered as well as wage-related benefits like accommodation, overtime, rest day, night differential, 13th-month pay , and holiday.
  • Employees deserve to be protected from any injury, sickness, or death through a safe working environment .
  • All employees have a right to join or form a legitimate worker’s organization or labor union without the employer’s interference. These groups are established for the purpose of upholding their rights as workers and doing collective bargaining. For instance, workers can be represented by these organizations in tripartite decision-making involving them, the government, and the employers’ organizations. This way, they can have their voices heard in matters concerning workers’ wages and labor disputes.

Step 14: Purchase All the Needed Equipment and Supplies

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Some businesses can get by with just manual labor. However, for those that invest in machines and equipment, the increase in business productivity and profitability can be phenomenal if done right.

Therefore, you have to apply the same meticulousness in selecting the supplies, machines, and equipment needed to produce your product. Follow these proven tips before making a purchasing decision:

  • Have a clear idea of what you want to buy before heading to the store/supplier. Know the specific needs of your business, the kind of machine/equipment that can meet these needs, and all the engineering features and operating characteristics you’re looking for. This way, you can cut down on shopping time and simply go straight to comparing only the products that meet all your criteria.
  • Shop around and don’t settle with the first supplier that you come across no matter how great it is. Instead, get information on each supplier that sells the machine/equipment you’re looking for and judge them one by one in terms of reliability, price, warranty, payment terms, delivery, installation service, maintenance, etc. Just because the product is the cheapest doesn’t mean it’s also the best; multiple factors will determine which one suits your business best.
  • Choose excellent machine/equipment that is within your price range . Remember, it’s an expensive investment so make sure you have done your assignment of comparing the cost of each machine/equipment that you’ve shortlisted based on their fuel efficiency, capacity, and other technical matters. Alternatively, you can lease or buy a second-hand machine/equipment so you won’t have to spend more money on a new one.

Step 15: Launch Your Business

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And there you have it: You are now ready to start your own business. Although this article has only covered the basic details of jumping into entrepreneurship, it should be enough to get you started.

Remember, it’s not unusual for first-time entrepreneurs to make mistakes in their first ventures but the lessons from these mistakes are what will propel you forward as you learn more about your business.

Entrepreneurship is not just about earning big bucks. It’s also about generating job opportunities that will help a lot of families. As an entrepreneur, you’ll be serving not just yourself but also the community around you.

Regardless of the outcome, consider this journey as a launching pad to greater things. And if there’s one thing that owning a business can teach you, it’s the truth that learning doesn’t stop.

So keep learning and have faith both in God and in yourself. Who knows? Your greatest breakthrough may be just around the corner.

  • Bureau of Small and Medium Enterprise Development (BSMED). (2015).  Your Guide to Starting a Small Enterprise  [Ebook]. Retrieved from https://www.dti.gov.ph/resources/e-library/business/starting-a-business/guide-in-starting-a-business-enterprise/
  • Bureau of Small and Medium Enterprise Development (BSMED). (2015).  Do You Want to Go Into Business?  [Ebook]. Retrieved from https://www.dti.gov.ph/resources/e-library/business/starting-a-business/guide-in-starting-a-business-enterprise/
  • Entrepreneur.com. (2017).  Need a Business Idea? The Best Way to Find One Is to Stop Looking.  [Video]. Retrieved from https://www.entrepreneur.com/video/295451
  • Goodman, M. (2015). The 7 Steps of Effective Product Development. Retrieved 10 August 2020, from https://www.entrepreneur.com/article/244616
  • The Lean Startup Methodology. Retrieved 12 August 2020, from http://theleanstartup.com/principles
  • Bureau of Micro, Small and Medium Enterprise Development (BMSMED). (2012).  Financing Programs for Micro, Small, and Medium Enterprises (MSMEs)  [Ebook].
  • Summit Publishing Co. Inc. (2015).  52 Inspiring Success Stories: Breakthrough Ideas for the Aspiring Entrepreneur  (pp. 7-9). Mandaluyong City.
  • Noda, T. (2018). 10 Notable Incubators and Accelerators In The Philippines. Retrieved 14 August 2020, from https://fintechnews.sg/22610/fintechphilippines/incubators-accelerators-in-the-philippines/
  • GoDaddy, AXN launch reality show to jumpstart ventures of Filipino entrepreneurs. (2020). Retrieved 14 August 2020, from https://mb.com.ph/2020/08/12/godaddy-axn-launch-reality-show-to-jumpstart-ventures-of-filipino-entrepreneurs/

Written by Luisito Batongbakal Jr.

in Business and Finance , Juander How

Last Updated March 31, 2022 07:11 PM

gym business plan in the philippines

Luisito Batongbakal Jr.

Luisito E. Batongbakal Jr. is the founder, editor, and chief content strategist of FilipiKnow, a leading online portal for free educational, Filipino-centric content. His curiosity and passion for learning have helped millions of Filipinos around the world get access to free insightful and practical information at the touch of their fingertips. With him at the helm, FilipiKnow has won numerous awards including the Top 10 Emerging Influential Blogs 2013, the 2015 Globe Tatt Awards, and the 2015 Philippine Bloggys Awards.

Browse all articles written by Luisito Batongbakal Jr.

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Small & Medium Size

Manage your business, booking options, coach your clients, retain your customers, billing your clients, your mobile app, marketing tools, integrations, creating a gym business plan - a complete guide.

If you’ve found your way here, there’s a good chance you’re either looking to open a gym or revamp your current business plan - Congratulations!

Any business can benefit by starting with a solid business plan. Even if you’ve already hit the ground running, it’s never too late to put one together. In fact, most people are pleasantly surprised that business plans are not all that time consuming to create and that creating a gym business plan can significantly improve your already established business.

A business plan reveals who you are as a business and gives a logical preview of where you’re heading. It is a roadmap that lays out how your business is structured, how you plan to make it succeed, and the exact steps you need to take to get there.

A gym business plan will clearly define the structure of your business , give you a comprehensive insight into your target market and help you lay out your management structure, marketing strategy and financial strategy.

Though we might think of a gym business plan as a one and done type of document, it is actually an ever-evolving plan that grows and changes with you and your business. Ready to carve out a space for yourself in a multi-billion dollar (and climbing!) industry?

First off ask yourself a couple of tough questions:

  • Can I afford to run a gym?
  • How much time can I invest in this?
  • Do I feel comfortable working with people face to face on a daily basis?

Here’s the thing: starting a gym from the ground up is not an inexpensive venture. Between equipment costs, hiring PTs and group class instructors, insurance, rent, etc. you will need to be honest with yourself if this is a business you can afford to get involved with.

If finances are not an issue, it’s time to reflect on how much time you have /are willing to put into this new venture- especially at the onset. Owning and operating a gym or boutique studio is not a 9-5 job and working for yourself can make it extremely difficult to carve out a work/life balance.

Finally, getting started in a fitness business means you need to prepare yourself for an onslaught of face-to-face interaction with members, staff, investors, etc. If that much one-on-one interaction is not something you had prepared yourself for, you might want to re-think this venture.

The good news is that if owning and operating a gym is your dream - the money and hard work that you need to invest in making it a successful venture will be truly worth it.

Your Gym Business Plan Template at a Glance:

Step 1: Executive Summary

The first part of your gym business plan template is your executive summary. This is a quick, to-the-point statement that delineates the what, why and how of your business. It needs to be impactful and concise in framing your goals, your mission and your vision. Don’t worry if you feel like you have more to say - you can add more details in your company overview.

Step 2: Company Overview

If the executive summary was an outline of your gym business, the company overview is where you have the opportunity to go more into depth with your overall vision. Here you will go over the purpose and plans for your gym, your business model and the strategies you will employ to accomplish these objectives. A general overview of your target clients and what products/services you will provide for them can be included as well, but you will get more into detail regarding your target audience and services below. Don’t be afraid to get personal here! Include your own history in the world of health and fitness and/or business. Clearly communicate your vision for this gym. These are all relevant details for potential partners and investors to know when they are deciding on getting involved with you and your business. Aim to build your know-like-trust factor.

Step 3: Management & Operations

The management & operations section of your gym business plan is where you will present the plans for your employee ladder . What are the positions you need to fill and what sorts of skills will these employees need to have in order to make your gym successful? Think beyond your PTs and group class instructors. You’ll also likely need sales and membership personnel, marketing managers, customer service professionals, a maintenance team, etc. What responsibilities will each of these employees have?

Set up and present an organized chart that breaks down all of your staff positions, detailed descriptions of their roles, compensation structure, and benefits plan as well as incentives to attract and retain quality employees.

If you already have your management team in place, be sure to expound upon their individual skill sets, relevant experience and how they will contribute to the success of your gym.

Step 4: Market Research and Marketing

The market research and marketing step is the part of your gym business plan where you will explore: Your niche (the clients you will cater your gym to) Current trends in the industry that your target audience is looking for What your competitors are offering and for how much Plans for marketing your gym

Market research

You must start with market research and dive into who is in your local market and who you are focusing on as your target audience, your ideal clients - your niche. Are they students, working professionals, stay-at-home moms or dads, etc? Or will you target a specific group of fitness enthusiasts: bodybuilders, yogis, cyclists, etc. How do you plan to successfully fit your gym into your decided upon demographic?

When your target market is sorted out you can start researching your competitors. Direct competitors are those with gyms or boutique studios similar to yours in your area who are also going after a similar target audience. What are their strengths and weaknesses? How does your gym compare to theirs? What do your target clients have to say about them?

Once you are comfortable with your niche and your offerings in comparison to those of your direct competitors, the marketing portion is all about how you plan to get your gym and its services/amenities in front of this target audience and how you will attract them to your gym. It’s time to let your creativity shine! A detailed strategy, who will be handling this job, plus estimated cost is ideal. Your marketing strategy might include social media marketing, email marketing, TV or print advertising, sponsorships, loyalty plans, membership promotions, referral programs and more. Marketing can be any idea you have that will help make your gym stand out, build your customer’s loyalty and increase your revenue at the end of the day.

Step 5: Services and Amenities

In your company overview you briefly described the services and products you plan to offer at your gym, and here you will expound upon these services. This will give a clearer picture of what your gym or studio will look like for your members. Services will cover everything from membership options, group classes and personal training options to the specific exercise equipment you will offer. Amenities will include things like lockers, spa services, a swimming pool, child care options, etc. Products are physical items you plan to offer for additional revenue opportunities: juices, snack bars, protein powders or pre-workout, t-shirts, towels, etc.

Go into details about how the services you offer will fill the needs of your target audience and describe the benefits of each. Finally, create a pricing list that clearly outlines the costs for each product and service. This will make it easier when you get to the financial forecast and strategy section.

Step 6: Financial Forecast & Strategy

Finances are easily the most important part of your business, and are generally how you will measure success and profitability. The financial forecast and strategy is where its time to get real with an in-depth and up close projection for the future of your gym.

First, where do you need to spend your initial capital? Rent or building maintenance/upgrades, hiring costs, gym equipment, operational costs for the first 3-4 months, legal fees and marketing costs among others are all places you’ll want to investigate. Give a realistic cost estimate next to each. Then, add it all up: how much money will you need to successfully launch your gym?

Next you will dive into where your income will come from. Estimate how much your services (memberships, classes, PT, physical products) will bring in. The idea here is to show your potential partners/investors/employees that you have a plan with a solid ROI.

Finally, use all of this information to project a sales forecast for the first, second and third year in business breaking down each month as well as annual earnings and expenses.

Step 7: Payment Options

A big thing to think about is what sort of gym management software you will use. A streamlined system like Virtuagym , that automates membership billing and other fees, simplifies online and onsite scheduling, enables easy booking for classes or PT sessions, as well as other backend processes not only looks great for potential investors, it also serves to increase member retention and improve the overall client experience.

Step 8: Funding

You will round out your business plan with a clear description of where any start-up capital is coming from. Personal savings, bank loans, partners, sponsorships or even “soft loans” from family members or friends are all resources you might consider.

You’re Almost There!

Starting a gym has a multitude of benefits but is no easy task to undertake. That said, with the right business plan your rewards will far outweigh your challenges and you can look forward to a happy and successful future within the fitness industry. Refer back to your business plan whenever you need to make important decisions, secure new investments or show new partners or employees the greater vision and direction of your business.

A Personal Checklist:

Feel free to use this checklist to help you through the next stages of running your own gym. Refer to it throughout the development of your business to ensure you don’t miss a thing.

  • Write business plan
  • Register business
  • Apply for business license and permit
  • Open business bank accounts
  • Select online payment platform
  • Obtain tax payer’s ID
  • Purchase insurance
  • Organize rental space / purchase facility
  • Purchase / rent equipment
  • Secure funding
  • Set up Direct Debit service
  • Recruit employees
  • Draft contract documents and any other legal documents required
  • Design company logo and brand
  • Develop website
  • Write website content
  • Create accounts on social media platforms
  • Design leaflets and brochures
  • Organize branded uniforms
  • Hold launch party!

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Contact Information

Nicolas Fisher

Nick is a Marketing Specialist with a keen eye for market introspection and relevant insights. Adept in relating to people, he often seeks ways in which we can use human relations to bring our businesses and clients closer together to create lasting bonds by using his insights and expertise in the industry.

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BUSINESS STRATEGIES

How to create a gym business plan

  • Annabelle Amery
  • Sep 5, 2023

how to create a gym business plan

When starting a business , it’s crucial to create a comprehensive and clear business plan. This applies to all types of businesses , including a gym business . A gym business plan is a strategic document that outlines the goals, objectives and strategies for starting and running a successful gym.

A gym business plan serves as a roadmap for entrepreneurs, providing guidance on how to navigate the challenges and complexities of the fitness industry. It helps entrepreneurs define their vision, mission and target market, as well as identify the resources and steps needed to achieve their goals.

Need a way to promote your gym business online? Get started with Wix’s website builder , which includes built-in marketing and scheduling tools.

Why create a gym business plan?

A gym business plan is particularly important for individuals who are new to entrepreneurship. It provides a structured approach to starting a gym by outlining the necessary steps, such as securing funding, finding a suitable location and acquiring equipment. Some of the other main advantages include being able to:

Attract funding: A well-written gym business plan can attract potential investors or lenders who may be interested in supporting your venture financially. It demonstrates your understanding of the market, your competitive advantage and your plans for profitability.

Understand resource requirements: A comprehensive gym business plan helps entrepreneurs identify the resources required to start and operate their gym successfully. This includes business registration (cost to start an LLC ), equipment, staff, marketing materials and other supplies necessary for day-to-day operations.

Achieve long-term success: A gym business plan provides entrepreneurs with an opportunity to thoroughly analyze their target market and competition. By conducting market research and competitive analysis, they can develop strategies to differentiate their gym from others in the industry.

Set goals: A well-crafted gym business plan helps entrepreneurs set realistic and measurable goals for their gym. These goals can include financial targets, membership growth, customer satisfaction levels and other key performance indicators.

Make better decisions: Having a clear business plan in place helps entrepreneurs make informed decisions about various aspects of their gym, such as pricing, marketing strategies and expansion plans. It serves as a reference point for evaluating options and making choices that align with the overall business strategy.

Guide your website messaging and design: A gym business plan also includes considerations for creating a business website . In today's digital age, making a website is crucial for attracting customers and promoting your gym. The business plan can outline the website's purpose, design, functionality and marketing strategies to drive traffic to the site.

How to write a gym business plan in 6 steps

A gym business plan is a crucial document that outlines the strategies and goals for starting and running a successful gym. It provides a roadmap for entrepreneurs, guiding them through the process of establishing and growing their fitness facility. To create an effective gym business plan, it is important to include six main parts:

Executive summary

Business and domain names

Market analysis and research

Operations plan

Marketing and advertising

Financial plan

01. Executive summary

The executive summary is a concise overview of your gym business plan. It provides an introduction to your gym, highlighting its unique selling points and summarizing the key elements of your plan. The executive summary should include a brief description of your gym, your mission statement, an overview of the target market and competitive landscape, a summary of your marketing, your advertising strategies and an outline of your financial projections (including how you plan to raise money for your business ).

Example of an executive summary for a gym:

“ABC Fitness is a state-of-the-art gym located in downtown Cityville. Our mission is to provide a welcoming and inclusive environment where individuals of all fitness levels can achieve their health and wellness goals. With top-of-the-line equipment, certified trainers and a variety of group exercise classes, we aim to be the premier fitness destination in our community.

In an increasingly health-conscious society, the demand for fitness facilities continues to grow. ABC Fitness differentiates itself by offering personalized training programs tailored to each member's specific needs. Our strategic location in the heart of the city ensures easy accessibility for our target market of urban professionals.

To attract customers, we will implement a comprehensive marketing campaign that includes online advertising, social media promotions, and partnerships with local businesses. We project steady growth in membership numbers over the next three years, resulting in increased revenue and profitability.”

02. Business and domain names

Choosing the right business name for your gym is crucial for building brand awareness and trust. It should reflect your gym's values, target market and unique selling proposition. Here are some steps to consider when deciding on a company name:

Brainstorm keywords and concepts related to fitness, health and wellness

Use a business name generator (or specifically a small business name generator ) for inspiration and to generate unique name ideas

Consider the availability of domain names associated with your chosen company name

Check the availability of the chosen domain name using domain registration websites

Be inspired: Gym business name ideas , Fitness business name ideas

Learn more about registering your business once you’ve landed on your business name and legal structure.

03. Market analysis and research

Including market analysis and research in your gym business plan is essential for understanding the competitive environment and developing a better business strategy.

Target market: Analyze the target market by identifying demographics, psychographics, and fitness preferences of potential customers. Conduct a SWOT analysis (strengths, weaknesses, opportunities and threats) to assess your gym's internal and external factors.

Competitors: Research competitors in your area to understand their strengths, weaknesses, pricing strategies and marketing efforts. Identify opportunities for differentiation by offering unique services or targeting underserved segments of the market.

04. Operations plan

The operations plan outlines the logistical aspects of your gym, including location, premises, equipment and staffing needs. Make sure to select a suitable location that is easily accessible, has ample parking and aligns with where your target market is based.

Then determine the size and layout of your gym space based on the number of equipment, exercise areas, locker rooms and amenities. Research and budget for the necessary gym equipment, including cardio machines, weightlifting equipment and fitness accessories.

Lastly outline staffing requirements by identifying the number of trainers, instructors, front desk staff and maintenance personnel needed.

05. Marketing and advertising plan

The marketing and advertising plan lays out the strategies and campaigns you will implement to promote your gym business. To do this you’ll need to first identify your target audience and tailor your marketing efforts to reach them effectively.

Then, plan out a strong brand identity by creating a logo, color scheme and visual elements that resonate with your target market. (Need help creating a logo? Check out these fitness logo ideas or Wix’s free logo maker .)

Consider using various marketing channels such as social media platforms, online advertising, local partnerships and community events. Then plan compelling content that highlights the benefits of joining your gym and showcases success stories from existing members. You can also implement referral programs or incentives to encourage current members to bring in new customers.

06. Financial plan

The financial plan is a cornerstone of any gym business plan, providing an in-depth overview of how the business will secure initial funding, manage expenses, generate revenue and outline the projected time frame for achieving profitability. This section is pivotal in demonstrating the financial viability and sustainability of the gym business to potential investors, stakeholders and lenders.

Startup costs and funding: Starting a gym business entails various upfront costs that should be carefully estimated for accurate financial planning. These costs include lease or purchase of the gym space, equipment procurement, interior design, licensing and permits, marketing, initial staffing and operational supplies. Funding for these startup costs can come from diverse sources, such as personal savings, business loans, grants, partnerships or investments.

Revenue projections: Revenue projections provide a forecast of the expected income over a specific period, usually the first few years of the gym's operation. These projections should be based on thorough market research, competitor analysis and realistic expectations.

Profit and loss projection: The profit and loss projection, also known as the income statement , offers an overview of the gym business's revenue, expenses and net profit or loss over a specific period. It provides insights into the financial health of the business and its potential profitability.

Time frame for profitability: The time frame for achieving profitability in a gym business depends on factors like membership growth, marketing strategies, operational efficiency and retention rates. Typically, gyms aim to reach profitability within the first year or two of operation

steps to developing a business plan

Gym business plan examples

Creating a gym business plan from scratch can be a daunting task, especially if you're new to entrepreneurship. Fortunately, there are many resources available that provide gym business plan templates to help you get started. These templates serve as a framework for organizing your ideas and ensuring that you include all the necessary components in your plan. Here are two draft business plans for hypothetical gym businesses, incorporating the main parts discussed earlier.

By using templates as a starting point, you can customize them to fit your specific vision and goals for your gym. Remember to conduct thorough research, analyze your target market and develop strategies that set your gym apart from the competition. With a well-crafted gym business plan in hand, you'll be well-equipped to start your journey towards building a successful fitness facility.

Business plan template #1: neighborhood fitness studio

The Neighborhood Fitness Studio is a boutique gym located in a residential area, catering to individuals seeking a personalized fitness experience. Our mission is to provide a welcoming and supportive environment where members can achieve their health and wellness goals. With certified trainers, state-of-the-art equipment and a variety of group exercise classes, we aim to become the go-to fitness destination in our community.

Company name and domain name

We have chosen the name "FitHub" for our neighborhood fitness studio. The domain name www.fithub.com is available and aligns well with our brand identity.

Our target market consists of local residents aged 25 to 45 who value convenience and personalized attention

Competitor analysis reveals that there is no other gym within a two-mile radius offering specialized fitness programs tailored to individual needs

We plan to differentiate ourselves by offering personalized training plans, nutrition counseling and small group classes

We have secured a 2,000 square foot space in a commercial building with ample parking for our gym

The gym will be equipped with cardio machines, free weights, strength training equipment and a designated area for group exercise classes

We will hire certified personal trainers, fitness instructors and front desk staff to ensure excellent customer service

Marketing and advertising plan

We will utilize social media platforms like Facebook and Instagram to promote our gym and engage with potential customers

Local partnerships with health food stores and wellness centers will allow us to reach a wider audience

We will offer a free trial period for new members and implement a referral program to incentivize word-of-mouth marketing

Business plan template #2: upscale fitness center

The Upscale Fitness Center is a premium gym targeting affluent individuals who prioritize luxury and exclusivity. Our mission is to provide a high-end fitness experience that combines cutting-edge equipment, personalized training and luxurious amenities. With our state-of-the-art facility, expert trainers and exclusive membership perks, we aim to become the preferred fitness destination for the elite in our city.

We have chosen the name "Elevate Fitness" for our upscale fitness center. The domain name www.elevatefitness.com is available and reflects our commitment to helping members elevate their fitness journey.

Marketing analysis and research

Our target market consists of high-income individuals aged 35 to 55 who value personalized service and are willing to invest in their health

Competitor analysis reveals that there are no other fitness centers in our city offering the same level of luxury and exclusivity

We plan to differentiate ourselves by offering VIP amenities, personalized training programs and exclusive member events

We have secured a 10,000 square foot space in a prime location, featuring high-end finishes and top-of-the-line fitness equipment

The fitness center will include dedicated areas for cardio, strength training, group exercise classes and a spa-like relaxation area

We will hire certified personal trainers, nutritionists and spa professionals to provide a comprehensive wellness experience for our members

We will leverage digital marketing strategies, such as targeted online advertising and influencer partnerships to reach our affluent target market

Exclusive membership events and collaborations with luxury brands will create buzz and attract high-profile individuals

We will offer personalized consultations and complimentary services to prospective members to showcase the unique value of our fitness center

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The Best Gym Franchises in the Philippines

gym business plan in the philippines

During these trying times, the quote of health is wealth has more weight than ever — and one of the most important aspects of achieving the healthy lifestyle we all want and need to have is through regular exercise.

For some of you who also agrees, and looking for ways to encourage your community to also seize their lifestyle and become a better version of themselves, then investing in a gym franchise can be a great opportunity to encourage your peers to be more active and improve their health.

If you’re interested to become a gym business owner, then check out these four (4) gym franchises in the Philippines, and get to know what gym suits best to your target market.  

If your target is to empower and give women an exclusive area to achieve their fitness goals then franchising Curves is the right one for you. With Curves, the reputation of being one of the largest women’s fitness franchise around the globe, with over 7,000 locations in 85 different countries. Interested franchisees are assured that they can receive assistance from a well-established global business.

  • Estimated Cost of Investment:  $25,000 – $40,000
  • Franchise fee:  $39,900

Contact Details  

Website:  curves.com.ph

Email:  [email protected]

Address:  4F Citywalk 2 Eastwood City Quezon City

Landline:  (02) 718 5409

360 Fitness Club

Office workers are known to be swept with projects which drains them to the point of not being able to take care of themselves. In comes, 360 Fitness Club which helps to promote health and fitness to office workers who are always lacking time to squeeze into their tight schedule an exercise routine.

Of course, the 360 Fitness Club is not an exclusive office worker only allowed gym. The brand takes in anyone interested to get started on their fitness journey but doesn’t have the capacity for long hours of workout time.

  • Estimated Cost of Investment:  $96,000
  • Franchise fee:  $9,600

Website:  360fitteams.com

Address:  4F Philippine Stock Exchange Tower, Exchange Road, Ortigas Center, Pasig City

Email:  [email protected]

Contact No.:  +63 917 802 0422

Anytime Fitness

If you’re interested in accommodating fitness enthusiasts day and night, then, the Anytime Fitness gym is the right investment for you. With their 24/7 operation, franchise owners can provide access to high-quality gym equipment, training and coaches no matter what the time of the day, which embodies the company’s tradename of Anytime Fitness.

  • Estimated Cost of Investment:  $107,524 – $722,796
  • Monthly Ongoing Royalty Fee:  $449 – $549
  • Monthly Ad Royalty Fee:  $300

Contact Details

Website:  www.anytimefitness.ph

Bring more spice to your community’s fitness activities by franchising UFC Gym, and bring in the gym which can provide offers general fitness training and mixed martial arts. UFC Gym is also ideal for those who want to have a business that can encourage youngsters to be more physically fit, through UFC Gym’s youth classes.

  • Estimated Cost of Investment : $31,000
  • Franchise fee:  $4,800

All the information stated above may change without prior notice, it is best advised for interested franchisees of the mentioned gym businesses to directly reach out through their official platforms, found listed on the contact details of each listed gym franchises.

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8-Step Easy Guide To Building A Lucrative Gym Business Plan

Want to start your own gym for a long time but still confused about from where to start? Here we are with a solid guide to assist you in developing a full-fledged and lucrative gym business plan. Let's dive right in.

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What exactly is a gym business plan, why do you need a gym business plan, 8-step easy guide to building a lucrative gym business plan, now, formulate your own gym business plan.

gym business plan in the philippines

It's a formal document that establishes who you are as a gym and paints a realistic image of where you want to go in the future. At the most basic level, it's a document that explains how your gym operates, how it plans to succeed, and the measures you'll need to take to get there.

gym business plan in the philippines

The main goal of a gym business plan is to lay out a road map for how your gym will evolve in the near future. Writing it may be a helpful exercise in identifying new ideas that you may have overlooked and determining if there is potential for development. You may use your gym layout planner to help you with things like:

A thorough market evaluation

Writing a business plan encourages you to investigate the different factors that will impact the success of your gym. The gym planning might include things like your ideal clientele, target market, facility and equipment prices, local rivals, and any other market variables that could affect the success of your gym.

Choosing the best path forward

With a gym layout planner, you'll be able to evaluate which strategy has the highest possibility of achieving success by jotting thoughts down on paper through different preliminary versions of gym planning. This helps you to carefully allocate your time and energy.

Investment acquisition

No sensible investor would put money into a gym unless they have a clear picture of how the money will be used. A strong business plan for opening a gym outlines how the money will be spent and what the main objectives will be.

Detailed Strategizing

Having your plans written down is not the same as having them in your thoughts, even if you have corporate goals in mind and broad ideas for accomplishing them. A solid gym business plan will include detailed strategies for marketing, resource allocation, new instructor recruiting, and other efforts that will help you meet your future goals set in gym planning. It might help you grasp the magnitude of the fitness sector and figure out what resources you'll need to get started.

gym business plan in the philippines

Now that you have a good understanding of what a gym business plan is and how crucial it is to a  for success, let's have a look at the 8 main aspects that will help you cover every area of the plan without missing anything:

01. Produce a concise executive summary

This component of the business plan is essentially a summary or overview. Give a brief explanation of your gym, as well as a synopsis of the market research you've completed. Then there must be a description of how your gym is particularly equipped to compete in this market. An executive summary must be attention-grabbing, concise, and clear. That is why you must keep things brief. That isn't to say you should speed through this section of your gym planning. If the opening few pages of your gym layout planner, including the executive summary, aren't interesting enough, potential investors or clients would find your vision uninteresting. And, we know this is the last thing you want. The executive summary of your gym business plan should be able to shout the following:

What are your objectives?

What is your mission?

How are you gonna achieve your objectives/goals?

What is the bigger picture i.e. the vision?

gym business plan in the philippines

02. Prepare the company overview

On the other hand, a company overview should be able to address the following questions:

What has your studio done in the past?

Have you ever owned or operated any other businesses?

What is your present status?

A company overview should explain your gym planning objectives. This will help your investors and partners better understand your previous path and future ambitions. The more information you provide, the more people will trust you. Then you must explain your strategy, including what services you want to offer initially and how you intend to approach development and additional products for expanding your revenue streams. You may need to employ an instructor or construct a new facility based on your gym planning. This will be a useful tool in determining when or where you might require more funds or acquire talent.

This section goes into further depth about your gym, the customers it serves or the clients you intend to serve, and how it differs from the competitors. This is also a wonderful spot in your gym business plan to write down your objectives.

gym business plan in the philippines

03. Analyze the market you've set foot in

This is an important aspect to include in your business plan for opening a gym. To develop this section, you'll need to research your local market and your gym's ability to successfully integrate it. Include some actual facts and statistics to demonstrate where the market has been and where it is likely to reach. Center your writing around your market and the niche of your gym. Figure out if you have a niche and what type of audience does your niche caters to. Also, watch out for the latest fitness trends and see if these trends align with your gym goals and objectives of potential clients.

gym business plan in the philippines

04. Study your competitors

This area is crucial in your gym business plan since it includes a business owner's research of its competitors. You should make a list of direct and indirect competitors, as well as their strengths and shortcomings, and where your gym stands in comparison to them.

Direct Competitors : The companies or gyms in your local area or surroundings that cater to the same types of customers as you.

Indirect Competitors :  Fitness studios or centers in your local area that target your audience but with different kinds of goods and services.

It is best to collate real-time feedback of the customers currently using your competitors' services in order to study their market. Collating real-time information might be a heck of a task but that's where you get the real feedback of your target audience. To gather such information, you can chat with locals, hand out questionnaires, and conduct surveys. Inquire as to why they choose their present gym, what they believe they are losing out on, and figure out how you might profit from that. Make sure you conduct thorough research of the market in order to know the USP of your business and the weaknesses of your competitors. This is an important area of your gym layout planner that determines the future goals of your gym.

gym business plan in the philippines

05. Disclose every offering of your gym

This section of the gym layout planner contains a full description of the services you provide to your clients. Membership options, group courses, available workout equipment, and personal training possibilities should all be included. You can also add things like child care or customized training sessions, depending on the potential needs of the clients.

In your gym layout planner, discuss how your offerings meet the demands of your target audience. Include any intentions to expand or alter services in this area, as well as the estimated cost and payoff for such changes. You might also look for ways to make money by expanding beyond your primary services. This might assist you in establishing your brand and launching a new revenue stream.

gym business plan in the philippines

06. Create a marketing masterplan

This section outlines everything you're doing, and want to do .i.e. to present your goods and services in front of your target audience. Social media campaigns, membership drives, sponsorship of local events or NGOs, advertising, collaborations, and other marketing methods are all examples of marketing strategies.

To assist you plan, include the estimated expenses of your marketing activities, as well as who is accountable for each component of the marketing strategy. Your creativity is limitless here in this part of your gym planning. It's critical to cover all of your arenas since these techniques will assist you to maintain your customer acquisition rate while also stretching your client retention period.

Check out our blog on trending and effective marketing strategies that wouldn't wanna miss out.

gym business plan in the philippines

07. Plan your management and operations

This is one of the most crucial things to be done while you are in the gym planning or rebuilding phase.  This section will explain how your gym would operate and what are the areas or parts that would assist you in moving your gym forward in the market.

Staffing is the next biggest expense to rent and it is important that you spend your money wisely on the right employees by offering the right compensation and benefits. Note down the important members of your management team and the skills they may provide to assist your company to grow. This should include not just fitness specialists and trainers, but also people with business knowledge who can assist you with admin work. While preparing a gym layout planner, create an organizational chart as well as a list of any non-management people you'll require to run your business.

gym business plan in the philippines

08. Financial forecast and funding requirements

Include your most recent year's financials as well as your projected revenue for the next several years in your gym business plan. These forecasts should be based on your thorough market study. Create detailed financial estimates for the next three years, including income statements, balance sheets, and cash flow statements, based on the best and worst-case scenarios.

While you do that, it is also a good time to consider your business in a more realistic light. Include any important external resources in your gym planning for which you would consider seeking funding. Describe where you plan to receive your funding and how much of it do you plan to spend. Make a note of any past financial commitment in your gym business plan.

gym business plan in the philippines

And it's a wrap! We have mentioned everything you need to know while creating a gym business plan. We know, starting a business is in itself a brave task and comes with its own set of difficulties, but the ultimate result is well worth the work. You'll be able to start a gym with a bang if you have a solid gym layout planner that encompasses all you've read so far.

Don't forget to include modern business software in your gym planning so that you could keep your focus intact on more important things and leave the rest to us. Book a demo with our founder to know how Bookee is much more than an ordinary fitness management software.

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gym business plan in the philippines

The new and better way to grow your studio

How to Start a Gym or Fitness Center

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Michele Richardson

10 min. read

Updated November 13, 2023

Free Download:  Sample Gym Business Plan Templates

You wake up at sunrise to teach the first class of the day at your new fitness studio. You love motivating your clients to reach optimum levels of health and wellbeing. This is what keeps you going when you face challenges or get overwhelmed in the nitty gritty of running your own fitness center.

If this sounds like something you would love to do, then this article is for you! I’ll walk you through how to start your own gym or fitness center, as well as give you the resources to help you start your dream business.

Starting a gym or fitness center is not easy, but it can be extremely rewarding if you’re willing to put in the hard work.

To supplement this guide, I’ve interviewed two successful fitness business owners, Kaylee Cahoon of SMARTCore Method, and Marcela Xavier of Bread and Yoga. What struck me most about both interviews was the clarity and vision the owners had surrounding starting their businesses in the first place, and how specific they were about who they wanted to impact through their fitness services.

  • The fitness industry in America:

The fitness industry has exploded in recent years. In the U.S., total revenues reached 27 billion U.S. dollars last year. Recent marketing aimed at fighting obesity, as well as trends toward improving health and fitness, have contributed to this market rise.

The low level of market concentration has made a variety of fitness niches accessible in local communities. Only 18 percent of total revenue in 2016 was from the top four largest players in the fitness industry, while small speciality gyms and independently-owned fitness businesses made up the rest.

In addition, many of these gym and fitness centers employ very little to no staff, which makes startup costs and barriers to entry low. With the proper mix of skills, training, and commitment, starting a gym or fitness center can prove a successful business move.

  • First, ask yourself: Why do you want to open a gym?

Kaylee Cahoon, the creator and owner of SMARTCore Method in Franklin, Tennessee, says that starting a fitness enterprise must come from love and passion, or you won’t last very long in the industry.

With over thirty years of experience in movement, including professional modern dance, choreographing, teaching, and various somatic movement modalities, Cahoon developed the SMARTCore Method to teach clients how to move smarter for optimal health and wellbeing. The method is a blend of somatic movement education, strength, balance, and functional and body weight training.

Her business is driven by her passion to educate clients to pay attention to their bodies for optimal function, not just follow fitness fads and trends that often end up being harmful to the body in the long run. “The fitness world needs to take a much harder look at what’s happening in the body, how the body functions, and how it relates to other parts of the body,” she says.

In 2009, Marcela Xavier, the owner of Bread and Yoga, saw a need for a yoga studio in the Inwood community in upper Manhattan. She started the studio with the intention of creating a gathering space for the community that was inclusive of all ages and people. In addition to the many types of yoga offerings, Bread and Yoga offers a wide array of holistic programs for children and adults aimed at encouraging them to maintain overall health and wellbeing.

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Get clear on why you want to start a gym or fitness center

Your reason behind opening a gym will help you maintain the focus, clarity, and drive it takes to become a successful enterprise.

Be honest with yourself. You may find that instead of starting a gym, you want to become a personal trainer or fitness instructor. Make sure you think through the possibilities and determine if starting a gym is really the right choice for you.

Don’t skip the market research phase

Talk with fitness center owners to find out what it took to get their business up and running. Learning from those that are already successful in your given field is a priceless education that can save you lots of time and energy in the long run.

  • Step 1: Get trained and accredited

First and foremost, make sure you have the proper training, accreditations, and experience to start your own gym. Your clients will be counting on you not just to help them look great, but to keep their bodies healthy and safe using your services.

There are several different personal training certifications you can choose between, and other types of fitness offerings (such as yoga, Pilates, or aerobics classes) will come with their own certifications as well. You’ll also be responsible for making sure any staff you hire has proper certification.

  • Step 2: Identify your fitness niche

There are a variety of fitness niches to choose from. Explore these niches below to determine what kind of fitness center you’d like to open.

Specialty fitness center:

  • This niche typically focuses on one specialty fitness class or activity. Some examples include aerobics, yoga, dance, Pilates, cycling, and much more.
  • Specialty fitness centers often offer a variety of class options during the week based on differing levels, intensity, and complexity.
  • Instructors are certified in a particular niche.
  • Specialty fitness centers can often be more expensive due to the boutique experience, intimate design, and quality instructors.
  • Monthly packages or memberships are often offered as an option.

Traditional gym:

  • Traditional gyms often provide a variety of workout options in one location, including fitness classes, strength and cardio equipment, and personal training.
  • They may provide additional amenities including massage, sauna, tanning, steam rooms, childcare, and more.
  • These additional services are often offered for an additional fee.

Medical fitness and wellness center:

  • These fitness centers often provide physical therapy and other medical services to help clients manage, recover from, and prevent health issues.
  • Usually associated with a doctor’s office or hospital that makes program recommendations.
  • These centers often have professional staff specialized in managing, tracking, and measuring the progress of clients.
  • They often provide a variety of educational services for physical and mental wellness, in addition to the typical group fitness classes and gym equipment.

Family fitness and wellness center:

  • Family fitness and wellness centers include athletic and country clubs.
  • They often provide a variety of workout options, including group fitness classes, strength and cardio equipment, and personal training.
  • Family fitness and wellness centers include exercise options for adults, seniors, teens and children.
  • These centers often provide classes and programs for youth such as swim lessons, sports clubs, summer camps for kids, and childcare.
  • May offer additional wellness amenities including massage, sauna, tanning, and steam rooms, sometimes for an additional fee.

Should you start a for-profit or nonprofit fitness center?

It’s worth considering whether or not you’d like to start your fitness center as a for-profit business or a nonprofit.

A nonprofit family wellness center, such as the YMCA, will provide services and programs for community members who cannot afford to pay full price. Often this is done on a sliding scale, based on income; students and seniors also typically get a discount at nonprofit family wellness centers. For-profit wellness facilities do not offer these discounts.

  • Step 3: Find the location

Once you determine what kind of gym you want to open, you will have to determine how much space you will need.

First, get clear on how many clients you want to be able to serve in your facility. Knowing how much space you will need will help you find a location that best suits your requirements. Do you need street access? Access to parking? Are you in an area with a lot of foot traffic? Will it be hard for people to find you? Are you on a bus route?

Initially, a good location is key to getting clients to your gym. Many gym owners believe that location is worth paying more money upfront so that your business gets seen.

For Kaylee Cahoon, finding the right location was extremely important. She wanted to be in an area that was still developing and where many things were happening. It was also important for her to be around a more highly-educated population, and to have nearby medical facilities since her fitness niche focuses on “educating” the whole body.

  • Step 4: Figure out what additional staff and equipment you will need

Before hiring fitness instructors and personal trainers, check their training and accreditation carefully. Ask thorough questions during the interview, and consider “auditioning” the person before hiring them. You also may want to consider hiring them temporarily for a few test classes or personal training sessions before committing to keeping them as an employee.

When Bread and Yoga first opened its doors, Marcela Xavier taught about ten yoga classes per week. Eventually, she secured a strong group of teachers so that she could fully focus on the leadership aspects of the business. Finding a strong group of quality yoga teachers was extremely important to her when it came to fulfilling her overall mission and vision, and she did this by holding auditions for yoga teachers to see how they taught, who they were, and what they were all about.

Some questions to ask yourself in terms of hiring staff:

  • Will you be the primary fitness instructor at your gym, or will you need to hire fitness instructors and personal trainers?
  • Will the staff be employees or independent contractors?
  • What are the accreditations and training that potential staff, fitness instructors, and personal trainers must have?

Will you need fitness center equipment?

If you need fitness equipment, you will need to decide whether to buy or lease. Leasing can help you stay current on the latest fitness technology, can give you an opportunity to assess your needs before purchasing, and will often include maintenance of the equipment.

However, if you lease equipment, you give up ownership interest, which might end up costing you more in the long run. Do your research and check with a lawyer before making a decision on whether or not to lease gym equipment.

If you decide to lease equipment, you can check to see if the company is a member of a leasing association such as the National Association of Equipment Leasing Brokers or the National Association of Equipment Finance Professionals.

  • Step 5: Get financed

You will want to make sure your finances are in good shape so that you can get financed. Most financing groups and landlords want to see two previous years of tax returns and financial statements, and before starting your business, you should have enough money saved for personal expenses for at least 12 to 24 months.

Having a strong business plan in place can help solidify funding for your gym or fitness center. Be sure to check out our planning resources, as well as the sample business plans at the end of this guide.

  • Step 6: Market your gym

Once you hone in on your customer base, market and promote your business in places customers spend time. This sounds simple, but it takes consistency and dedication over time to build a solid customer base.

Consider hiring someone to take on a marketing, PR, or social media management role, and if you can’t afford that, do some of it on your own. By coming up with a marketing plan for your gym or fitness center, you’ll be able to focus your efforts and get the word out about your new business.

You may want to offer free guest passes, membership discounts, and other incentives to keep and attract new clients.

  • Sample business plans and further resources:

These sample business plans are an excellent resource in starting your own gym or fitness center.

Having a well-thought-out business plan can help you solidify your financing and give you the clarity of mind you need to achieve your business goals.

Surprisingly, many people do not take the time to write a business plan and are unable to move forward with their business goals—so make sure you don’t make this mistake.

Below are some free sample business plans to help you get started:

  • Yoga Center Business Plan
  • Health Club Business Plan
  • Multi-Sport Complex Business Plan

To find out more about various loan options, contracts, and other forms of assistance for small businesses, check out The U.S. Small Business Administration.

To learn about pertinent tax information for businesses, check out the businesses section on the IRS website. You will need to sign up for an EIN (Employee Identification Number) for federal requirement purposes  as well.

Find out what documents, registrations, and licenses your state requires for opening a gym online via the Small Business Administration’s Licenses and Permits Resource.

Clarify your ideas and understand how to start your business with LivePlan

Content Author: Michele Richardson

Michele Richardson is a writer, actress and entrepreneur living in New York City. Her writing has appeared in a variety of web sites, and as a published playwright.

gym business plan in the philippines

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Gym Business Plan Template

Written by Dave Lavinsky

Gym Business Plan & Example

You’ve come to the right place to create a gym business plan.

We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their gyms.

Gym Business Plan Example

Use the example below as a template to write a gym business plan.

Executive Summary

Business overview.

Steven’s Gym is a startup locally owned gym located in El Paso, Texas. Steven’s Gym will include various exercise equipment, strength training equipment, free weights, aerobic equipment, and plenty of cardio equipment. The gym will also offer HIIT group classes, spin classes, strength training instruction, and personal training.

Located in an up and coming, newly developed, and highly trafficked area of town, Steven’s Gym will attract both men and women ages 16 to 75+. There is something for everyone at Steven’s Gym, whether someone is just beginning their fitness journey or is a seasoned athlete and gymrat. The gym will have a welcoming atmosphere, experienced personal trainers, friendly staff, and frequently cleaned equipment and restrooms.

The membership options are affordable and will be offered on a month-to-month basis, a 6 or 12 month contract, or the ability to pay for an entire year upfront. Discounts will be offered to military, teachers, and healthcare workers.

Service Offering

The following are the services that Steven’s Gym will provide:

  • Strength training equipment
  • Cardio equipment
  • Free weights/dumbbells
  • Aerobic equipment
  • HIIT group classes
  • Strength training instruction

Customer Focus

Steven’s Gym will target all men and women ages 16 – 75+ who are interested in achieving and maintaining a healthy and active lifestyle. El Paso is a very diverse city that includes men and women from all walks of life. There are numerous blue collar individuals, white collar individuals, government employees, and military members as the local Army base is one of the largest in the country. Since Steven’s Gym will be very affordable, it will be able to attract people from all walks of life.

Management Team

Steven will manage the day-to-day tasks of running the gym. Steven will hire a gym manager to manage membership and three trainers. Steven will outsource a local CPA to handle payroll, accounting, and tax payments. He will also outsource a local advertising company to develop the gym’s logo, branding, photography, social media accounts, website, and billboard design.

Success Factors

Steven’s Gym will be able to achieve success by offering the following competitive advantages:

  • Large, clean, and spacious fitness center that has all the necessary equipment for their fitness routine.
  • Knowledgeable and friendly staff of trainers.
  • Best value for membership pricing. The membership pricing options are affordable and offer military, teacher, and healthcare employee discounts.
  • Convenient hours of operation.

Financial Plan Highlights

Steven’s Gym is seeking $300,000 in debt financing to begin operations of the business. The funding will be dedicated towards securing the warehouse space, gym build-out, and purchase of the 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:

  • Securing warehouse space, gym build-out, and design: $25,000 to $125,000
  • Gym equipment purchase: $50,000 to $100,000
  • Three months of overhead expenses (payroll, rent, utilities): $15,000 to $55,000
  • Marketing & advertising: $15,000
  • Working capital: $10,000

gym business plan in the philippines

Company Overview

Who is steven’s gym.

Steven’s Gym is a new, locally owned gym located in El Paso, Texas. Steven’s Gym will include strength training equipment, free weights, aerobic equipment, and plenty of cardio equipment. The gym will also offer fitness classes, strength training instruction, and personal training. Located in an up and coming, and highly trafficked area of town, Steven’s Gym will attract both men and women ages 16 to 75+. There is something for everyone at Steven’s Gym, whether someone is just beginning their fitness journey or is a seasoned athlete and gymrat. The gym will have a welcoming atmosphere, experienced trainers, friendly staff, and frequently cleaned equipment and restrooms. The membership options are affordable and will be offered on a month-to-month basis, a 6 or 12 month contract, or the ability to pay for an entire year upfront. Discounts will be offered to military, teachers, and healthcare workers.

Steven’s Gym History

Steven’s Gym is owned by Steven Malone, a retired Army Master Sergeant who is also a seasoned powerlifter. Steven was stationed at El Paso’s Fort Bliss for many years before eventually retiring and deciding to stay in El Paso and embark on his dream of eventually owning his own gym. As a frequent gym goer, Steven recognized that El Paso lacks high quality independent gyms. The nicest and most equipped gyms in El Paso are large franchises that have too many rules and regulations. Steven envisioned a gym that was welcoming to all types of people that is encouraging, clean, and adequately equipped for those who are focused on sustaining an active, healthy lifestyle.

Since incorporation, Steven’s Gym has achieved the following milestones:

  • Found a 10,000 square foot warehouse space for lease in El Paso, Texas that can easily be converted to a gym.
  • Registered Steven’s Gym, LLC to do business in the State of Texas.
  • Began the branding image, logo, website, and social media accounts for the gym.
  • Began researching and pricing out equipment.

Steven’s Gym Services

The following will be the services Steven’s Gym will provide:

Industry Analysis

The Gym industry is expected to grow to an annual revenue of $38 billion in the next five years. This growth is likely a result of increased per capita disposable income, in addition to growing health-consciousness. As consumers’ disposable income levels rise, individuals are usually more willing to purchase gym memberships. Additionally, time spent on leisure and sports is expected to increase over the next five years, effectively increasing the potential pool of consumers.

During this period, demographic changes are expected to drive revenue growth for operators. In particular, as healthcare costs continue to escalate, health insurance providers may implement incentives to promote preventive health practices, including the use of fitness centers among individuals within their provider network. Additionally, initiatives that promote the health benefits of exercise will likely increase over the next five years, stimulating industry revenue.  

Customer Analysis

Demographic profile of target market.

Steven’s Gym’s target audience will include all men and women ages 16 – 75+ who are interested in achieving and maintaining a healthy and active lifestyle. El Paso is a very diverse city that includes men and women from all walks of life. There are numerous blue collar individuals, white collar individuals, government employees, and military members as the local Army base is one of the largest in the country. Since Steven’s Gym will be very affordable, it will be able to attract people from all walks of life.

Customer Segmentation

Steven’s Gym will primarily target the following customer profiles:

  • High school and college students
  • Locally-based Military
  • Athletes who frequently train for fitness competitions

Competitive Analysis

Direct and indirect competitors.

Steven’s Gym will face competition from other companies with similar business profiles. A description of each competitor company is below. Gold’s Gym Gold’s Gym is a large franchise-owned gym with two locations in El Paso. Gold’s Gym gives access to everything one needs to transform their life: state-of-the-art amenities, a variety of fitness classes tailored towards someone’s fitness needs, and the world’s best trainers. There are weekly fitness classes for group workouts ranging from martial arts-inspired cardio classes to foundational yoga sessions. There are also certified trainers if someone is new to exercise or just looking for more guidance and coaching. Gold’s Gym’s amenities include cardio equipment, group exercise, personal training, a pro shop, sauna/steam rooms, group cycle, free weights, functional training, kids club, locker rooms, and wifi.

Planet Fitness Planet Fitness is for people from all walks of life, whether they’re a first-time gym user or a veteran member, they are there to provide a workout environment in which anyone and everyone can be comfortable. All Planet Fitness members enjoy unlimited access to their home club and the support of their friendly, knowledgeable staff anytime they need it. PF Black Club members receive additional benefits, including the ability to bring a guest for free and access to any of their 2,000+ PF locations. Also, the PF member can take advantage of their free fitness training or find motivation by reading real member experiences on Planet of Triumphs. The goal of Planet Fitness is to provide a clean, safe, welcoming environment for anyone who walks through the door, and all the equipment, amenities, and support they need once they arrive.

Anytime Fitness Anytime Fitness is a welcoming gym that exists to help someone get to a healthier place – by giving the right support at the right times, in the ways the member wants. Every member receives a free, personalized Get Started Plan when they join. Their friendly, professional staff is trained to help someone along their fitness journey, no matter how much support they need. Aside from a large selection of strength and cardio equipment, Anytime Fitness offers the following services – 24-hour access, 24-hour security, convenient parking, anywhere gym access, private restrooms, private showers, health plan discounts, wellness programs, cardio TVs, and HDTVs.

Competitive Advantage

Steven’s Gym will be able to offer the following advantages over their competition:

  • Large, clean, and spacious facility that has all the necessary equipment for their fitness routine.

Marketing Plan

Brand & value proposition.

Steven’s Gym will offer the unique value proposition to its clientele:

  • Large, clean, spacious, and well-equipped facility.
  • Dedicated team of trainers.
  • Affordable membership pricing plans.

Promotions Strategy

The promotions strategy for Steven’s Gym is as follows: Social Media Marketing Strategy Steven’s Gym will invest in advertising the gym on social media platforms Facebook and Instagram. By using targeted social media marketing, Steven’s Gym will be able to reach the appropriate target audience of El Paso. Before opening, Steven will hire an advertising agency to develop the branding and photography needed to create captivating social media posts.

Billboards Steven will invest in two billboards strategically located at busy intersections that receive thousands of traffic daily. The advertising agency will develop the print for the billboard design. Website/SEO Marketing Strategy Steven’s Gym will invest in a strong SEO presence so that when someone enters “El Paso gym” or “local gym near me” in their Google or Bing search bar, Steven’s Gym is at the top of the list. Their website will list all of Steven’s Gym’s services, location, pricing, and contact information. Word of Mouth Word quickly spreads around town and once a few people experience the clean, affordable, and professional staff at Steven’s Gym, more and more people will come in to see for themselves and sign up for a membership plan.

The pricing of Steven’s Gym will be moderate and on par with competitors so customers feel they receive value when purchasing their services.  

Operations Plan

The following will be the operations plan for Steven’s Gym.

Operation Functions:

  • Steven Malone will be the sole gym owner and operator of Steven’s Gym. He will oversee the staff, maintain that the cleaning schedules are being enforced, and ensure that all equipment is working per standard and safely. He will also manage all ordering of new and replacement equipment, schedule the group HIIT classes, and daily management tasks.
  • Steven will hire a gym manager to be in charge of members and member management.
  • A team of three trainers will run all of the fitness classes. As the membership grows and clients require more attention, more trainers and fitness classes will be added.
  • A local CPA will manage all high level accounting functions, such as payroll and tax payments.
  • Steven will also hire an advertising agency to develop the gym’s branding, photography, website, social media accounts, and billboard design.

Milestones:

Steven’s Gym will have the following milestones completed in the next six months. 8/1/202X – Finalize contract to lease warehouse space. 8/15/202X – Begin build-out and design converting warehouse space into a functional gym. 9/1/202X – Hire advertising company to begin developing gym’s branding, logo, social media accounts, website, and billboard design. 9/15/202X – Order all equipment. 10/5/202X – Hire gym manager and team of personal trainers. 10/15/202X – Train staff on proper policies and procedures. 11/1/202X – Grand Opening of Steven’s Gym.  

Steven’s Gym will be solely owned by Steven Malone. Steven is a retired Army Master Sergeant who has been stationed off and on at El Paso’s Fort Bliss for the past twelve years. Upon retirement, Steven decided to make El Paso his permanent home and embark on his dream of owning his own gym. Steven recognizes the lack of quality, independent gyms in El Paso and wants to open a gym that fits his idea of what a high-quality gym should be.

As a former powerlifter and personal trainer while serving in the military, Steven is aware of the proper equipment and facilities a gym should have. Steven envisions his gym to be friendly, clean, well-equipped, and affordable for the average person so that people from all walks of life will feel comfortable going to the gym and achieving their fitness goals. Steven will dedicate his life and focus on ensuring that his gym is always clean, staffed with the best trainers, and members are happy with what the gym has to offer.  

Financial Plan

Key revenue & costs.

The revenue drivers for Steven’s Gym are the membership fees it will charge each person that signs up to become a member. Each member will be placed on a membership plan where they can either pay month to month, enroll in either a 6 or 12 month contract, or pay for the entire year upfront.

The cost drivers will be the payroll for the staff, rent, utilities, cleaning supplies and equipment, and gym equipment purchase and maintenance. Other cost drivers will be the targeted marketing costs on social media and monthly fees for the CPA and advertising company.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

  • Initial Number of New Clients per Month: 60
  • Average Monthly Membership Fee: $150
  • Gym Lease per Year: $100,000

Financial Projections

Income Statement

Balance Sheet

Cash Flow Statement

Gym Business Plan FAQs

What is a gym business plan.

A gym business plan is a plan to start and/or grow your gym. Among other things, it outlines your business concept, identifies your target customers, presents your marketing strategies and details your financial projections.

You can  easily complete your gym business plan using our gym business plan template here .

What Are the Main Types of Gyms?

There are many types of gyms or fitness centers. There are large, franchise gyms that have multiple locations across the country. There are also large single facility gyms. Finally, there are smaller gyms that tend to focus on a particular fitness segment, such as strength training, CrossFit, or group HIIT training.

What Are the Main Sources of Revenue and Expenses for a Gym Business?

The primary source of revenue for a gym or fitness center are membership fees. Typically, members pay month-to-month, or fulfill a year-long contract.

The key expenses for a gym or fitness center are the costs associated with payroll, purchase and maintenance of equipment, cleaning supplies, marketing costs, and working capital. Other expenses will be rent, utilities, taxes, accounts payable, and other licensing fees (if necessary).

How Do You Get Funding for Your Gym?

Gym businesses are most likely to secure funding from banks. Typically you will find a local bank and present your gym business plan to them. Family and/or friends could also be potential investors and other types of capital-raising such as crowdfunding are other common funding sources.

A well-crafted gym business plan, complete with a solid financial plan is essential for attracting any type of potential investor. This is true for a new gym business or established businesses looking to grow.

What are the Steps To Start a Gym Business?

Starting a gym or fitness center 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. Write A Gym Business Plan - The first step in starting a business is to create a solid gym business plan that outlines all aspects of the venture. This should include market research on the fitness industry and potential target market size, information on the services and/or products you will offer, marketing strategy, mission statement, business model and pricing strategy and a detailed financial plan.  Our business plan template is the perfect guide to show you how to start a gym business plan.

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your fitness   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 gym business is in compliance with local laws.

3. Register Your Gym Business - Once you have chosen a legal structure, the next step is to register your gym 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 gym 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 Gym Equipment & Supplies - In order to start your gym 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 gym or fitness   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 to reach your target audience.

Learn more about how to start a successful gym or fitness business:

  • How to Start a Gym Business

Where Can I Get a Gym Business Plan PDF?

You can download our free gym business plan template PDF here. This is a sample gym business plan template you can use in PDF format.

Other Business Plan Templates

Food Truck Business Plan Template Event Venue Business Plan Template

Fitness Business Plan Template (+ Free Examples)

Use this free fitness business plan template to modify and use as you learn how to create a fitness business plan.

Fitness Business Plan Template

Do you dream of starting your own fitness business ? With the increasing demand for health and wellness services, now is the perfect time to turn your passion for fitness into a profitable venture. There are many ways to make money with fitness (you can even start a fitness business from home or start a fitness business with no money ). However, before diving headfirst into the world of entrepreneurship, it is crucial to develop a comprehensive fitness business plan that will serve as your roadmap to success.

Fitness Income Ideas

Looking to start a fitness business? Our comprehensive fitness business plan template will guide you through the process, helping you create a solid foundation for success. Then learn how to create a gym business plan , how to create a gym budget , how to create a gym sales forecast , how to get a gym loan , and more—all part of understanding how much it costs to open a gym , how to start a fitness business , and how to start a gym . Or maybe you want to learn how to become a fitness influencer —we’ve got you covered with the best online fitness coaching software and the best fitness software for fitness influencers who want to start a fitness influencer business online.

And, of course, managing your fitness business online with the best gym management software and the best personal training software means that you can easily create fitness session plans, waivers, forms, fitness assessments, lead forms, registration forms, online booking, workout plans, and much more. Save yourself some time and hassle and get a demo with the best fitness business platform: Exercise.com.

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Get a demo now!

Fitness Business Plan Template

[business/brand name], executive summary.

Business Concept

  • Briefly describe the fitness business idea, its core offerings, and unique value proposition.
  • Outline the short-term and long-term goals of the business.

Mission Statement

  • A clear statement defining the business’s purpose and approach to reaching its goals.

Vision Statement

  • A depiction of what the business aspires to achieve in the future.

Business Description

Nature of the Business

  • Detailed explanation of the type of fitness business (e.g., gym, personal training studio, online coaching service).

Target Market

  • Description of the target demographic and their fitness needs.
  • Details about the business location and why it’s beneficial.

Market Analysis

Industry Overview

  • Overview of the fitness industry, current trends, and future projections.

Target Market Analysis

  • Detailed analysis of the target market, including demographic, psychographic, and behavioral aspects.

Competitive Analysis

  • Analysis of competitors, their strengths and weaknesses, and your business’s competitive edge.

Services and Products

Service/Product Offering

  • Detailed description of services and products offered (e.g., personal training, group classes, wellness programs).

Pricing Strategy

  • Rationale behind pricing models for services and products.

Marketing and Sales Strategy

Marketing Plan

  • Strategies for reaching and attracting the target market.
  • Channels and tactics to be used (e.g., social media marketing, community events, referral programs).

Sales Strategy

  • Approach for converting prospects into customers.
  • Sales funnel and customer journey mapping.

Operational Plan

Daily Operations

  • Description of daily business operations, including opening hours and staffing.

Facilities and Equipment

  • Details about the physical space and equipment required for the business.

Suppliers and Partnerships

  • Information on any third-party suppliers and partnerships.

Management and Organization

Organizational Structure

  • Breakdown of the business’s organizational structure.
  • Roles and responsibilities of key team members.

Management Team

  • Profiles of key management team members.

Financial Plan

Start-Up Costs

  • Detailed list of initial expenses to start the business.

Revenue Projections

  • Forecast of revenue for the first few years.

Profit and Loss Statement

  • Projection of income, expenses, and profitability.

Funding Requirements

  • Total amount of capital needed to start and run the business.
  • Plans for securing funding (e.g., loans, investors).
  • Additional supporting documents like market research data, resumes of key team members, detailed financial forecasts.

Using a platform like Exercise.com can significantly enhance the operation of a fitness business. Its comprehensive tools for client management, workout programming, scheduling, and reporting can streamline business processes and improve client engagement and retention.

This template provides a structured approach for creating a fitness business plan. It can be customized to reflect the specifics of your fitness business idea, market, and operational strategy.

Fitness Business Plan Example 1: Dynamic Pulse Gym

Dynamic pulse gym.

  • Dynamic Pulse Gym, a state-of-the-art fitness center specializing in personalized training programs and high-energy group classes.
  • Short-term: Establish a member base of 500 within the first year.
  • Long-term: Expand to multiple locations and incorporate wellness services.
  • To provide an empowering fitness environment that motivates members to achieve their health goals.
  • To be recognized as the premier fitness destination in [City/Region] that transforms lives through innovative fitness solutions.
  • A full-service gym offering cutting-edge equipment, diverse fitness classes, and personalized training.
  • Health-conscious adults aged 20-50, looking for a motivating and supportive fitness environment.
  • Situated in [City/Region], in a densely populated area with high foot traffic.
  • Growing interest in personal health and fitness, with an increase in demand for versatile workout options.
  • Busy professionals and fitness enthusiasts seeking convenient and varied workout options.
  • Competitors include local gyms and fitness studios. Dynamic Pulse Gym differentiates itself with advanced technology integration and a wide range of services.
  • Personalized fitness assessments, one-on-one personal training, various group classes like yoga, spin, and HIIT.
  • Wellness workshops and nutritional counseling sessions.
  • Competitive membership fees with premium options for additional services.
  • Launch campaign with social media ads, local partnerships, and community events.
  • Ongoing engagement through a referral program, member testimonials, and fitness challenges.
  • Focus on building relationships through free trial sessions and personalized gym tours.
  • Implement a tiered membership system to cater to different customer needs.
  • Operation hours from 5 AM to 11 PM, with a staff of trained fitness professionals.
  • 10,000 square feet facility equipped with cardio machines, weightlifting areas, a yoga studio, and a spin room.
  • Equipment sourced from leading manufacturers; partnerships with local wellness brands.
  • Led by a CEO, with departments for operations, marketing, and training.
  • CEO with extensive experience in the fitness industry.
  • Operations Manager with a background in gym management.
  • Marketing Manager skilled in digital marketing.
  • Estimated $250,000 for facility lease, equipment purchase, and initial marketing.
  • Projected $500,000 revenue in the first year based on membership and service sales.
  • Expected profitability within the first two years with controlled operating expenses.
  • Seeking $300,000 in funding for initial start-up and operational costs.
  • Market research data, equipment lists, detailed biographies of management team members.

Exercise.com’s comprehensive platform enhances Dynamic Pulse Gym’s operational efficiency, offering seamless scheduling, client management, workout creation, and progress tracking. This robust system ensures that Dynamic Pulse Gym operates at the forefront of the fitness industry with superior client engagement and retention.

Fitness Business Plan Example 2: Holistic Harmony Online Coaching

Holistic harmony online coaching.

  • Holistic Harmony, an online coaching service focusing on holistic health, combining fitness, nutrition, and mental wellness.
  • Short-term: Build a client base of 100 active clients in six months.
  • Long-term: Develop a holistic wellness app and expand service offerings.
  • To guide clients towards a balanced lifestyle through tailored online coaching.
  • To become a leading online platform for holistic health and wellness coaching.
  • Online personal coaching with a holistic approach, offering custom workout plans, nutrition advice, and mindfulness coaching.
  • Individuals seeking a balanced approach to health, particularly remote workers and those with busy lifestyles.
  • Fully online operation with the potential for global reach.
  • Increasing demand for online health services and a shift towards holistic health approaches.
  • Individuals aged 25-45, primarily working professionals who prefer the flexibility of online coaching.
  • Other online fitness and wellness platforms. Holistic Harmony’s comprehensive approach and personalized services provide a competitive edge.
  • Custom online fitness programs, nutritional planning, and virtual mindfulness sessions.
  • Subscription-based pricing with different tiers based on service levels.
  • Digital marketing strategy focusing on content marketing, influencer collaborations, and targeted social media campaigns.
  • Offering free initial consultations and introductory discounts to new clients.
  • Leveraging testimonials and success stories for client acquisition.
  • Regular client check-ins, content creation for the platform, and ongoing program adjustments.
  • No physical facility required. Investment in a high-quality website and coaching software.
  • Collaboration with freelance nutritionists and mental health experts.
  • Founder-led with a small team of certified coaches and administrative support.
  • Founder with expertise in fitness training and holistic health.
  • Team of freelance professionals for specialized coaching needs.
  • Approximately $50,000 for website development, marketing, and initial software setup.
  • Anticipated $150,000 in the first year, based on subscription model and consulting services.
  • Profitability projected within the first year with minimal operating expenses.
  • Seeking $75,000 in seed funding for initial setup and marketing.
  • Detailed website plan, service descriptions, and credentials of coaching team.

Utilizing Exercise.com’s versatile platform, Holistic Harmony can streamline client management, workout and nutrition plan creation, and progress monitoring. This platform facilitates efficient operations and high client engagement, positioning Holistic Harmony as an innovative leader in online holistic coaching.

These examples demonstrate how a fitness business plan can be structured for different types of fitness ventures, emphasizing the integration of Exercise.com as a key tool for operational efficiency and enhanced client service.

AMPD Golf Performance

Why You Need a Fitness Business Plan

A fitness business plan is more than just a document. It is your blueprint for building a thriving fitness empire. Whether you are seeking investors or planning to self-finance your venture, a well-crafted business plan will demonstrate your understanding of the industry, your target market, and your sustainable competitive advantage. Moreover, it will provide you with a clear roadmap and actionable strategies to navigate through the challenges and uncertainties that come with starting and running a fitness business.

Additionally, a fitness business plan can help you secure funding from banks or other financial institutions. Lenders often require a detailed business plan to assess the viability and potential profitability of your fitness business. By including financial projections, market analysis, and a comprehensive marketing strategy in your plan, you can increase your chances of obtaining the necessary funding to launch or expand your fitness venture.

Key Components of a Fitness Business Plan

When creating a fitness business plan, there are several key components that you need to include. These components will ensure that your plan covers all essential aspects of your fitness business, allowing you to make informed decisions and allocate resources effectively.

The first component is setting clear goals and objectives for your fitness business. This includes defining what you want to achieve and outlining specific milestones that will measure your progress. By setting clear goals, you can stay focused and motivated throughout your journey.

The second component is defining your target market. Understanding your ideal customers is crucial for tailoring your products and services to their needs and preferences. By conducting thorough market research, you can identify your target market’s demographics, interests, and pain points, enabling you to position your fitness business as the ultimate solution.

Next, you need to develop a unique selling proposition (USP) for your fitness business. Your USP is what sets you apart from your competitors and gives your target market a compelling reason to choose your fitness services over others. By identifying your unique value proposition, you can communicate your brand’s distinctiveness effectively.

Another essential component is analyzing the competition in the fitness industry. By assessing your competitors, their strengths, weaknesses, and market positioning, you can gain valuable insights to refine your business strategies and maximize your competitive advantage.

Creating a comprehensive marketing strategy is also crucial for attracting and retaining customers. Your marketing strategy should outline the channels and tactics you will use to reach your target market effectively. This includes online and offline marketing, social media, content creation, and building strategic partnerships.

Designing your products and services is another vital component of your fitness business plan. You need to clearly outline the range of services you will offer, including personal training, group classes, or specialized programs. Additionally, you should consider the equipment, facilities, and technology required to deliver exceptional experiences to your clients.

Outlining financial projections is essential for creating a sustainable business. This includes estimating your revenue, expenses, and profit margins. By projecting your financials, you can determine pricing strategies that balance profitability and competitiveness.

Estimating startup costs and funding sources is another critical component of your fitness business plan. This involves identifying the capital required to launch and operate your business and exploring financing options, such as loans, investors, or personal savings.

Formulating a management and organizational structure is crucial for streamlining your operations and ensuring smooth business processes. This includes defining roles and responsibilities, creating a hierarchy, and establishing efficient communication channels.

An effective sales and customer service strategy is essential for driving revenue and creating customer loyalty. You need to define how you will generate sales, whether through memberships, packages, or partnerships. Additionally, you should outline your approach to customer service, including feedback collection, complaint handling, and staff training.

Developing a strong brand identity is crucial for standing out in the crowded fitness market. Your brand identity should encompass your mission, values, visual elements, and tone of voice. By aligning your brand with your target market’s aspirations, you can create a powerful connection that inspires loyalty and drives referrals.

Implementing technology solutions is vital for enhancing your fitness business’s operations. This includes utilizing management software, scheduling systems, and online booking platforms to streamline administrative tasks and improve customer engagement.

Creating an actionable timeline and milestones will ensure that you stay on track and achieve your business goals within a specific timeframe. This involves breaking down your business plan into smaller, manageable tasks and setting deadlines to complete them.

Evaluating risk factors and formulating contingency plans is necessary for protecting your fitness business from potential threats and uncertainties. By identifying risks and establishing protocols to mitigate their impact, you can ensure business continuity and resilience.

Finally, monitoring and reviewing the performance of your fitness business based on the plan is essential for making data-driven decisions and adapting to market changes. By regularly analyzing key performance indicators (KPIs), such as revenue, customer satisfaction, and employee productivity, you can identify areas of improvement and make necessary adjustments to drive growth.

In conclusion, creating a comprehensive fitness business plan is the first step towards turning your fitness passion into a successful business venture. By addressing all key components, you can ensure that your plan covers every critical aspect of your fitness business, allowing you to make informed decisions and navigate challenges with confidence. Remember, a well-crafted business plan is not only a roadmap; it is your recipe for success in the ever-evolving fitness industry.

Jimmy Myers Relentless Sports Performance

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gym business plan in the philippines

How To Start a Gym Business In 7 Steps (+ Start-up Templates)

Published by caroline @ wellness creative co on 11 october 2023 11 october 2023.

Want to know how to start a gym business? Perhaps you’ve always loved fitness and want to start your own studio, or worked in the industry for years and it’s time to become your own boss. Whatever your reason for starting a gym, we’ve got you covered.

In this article – learn how to start a successful gym in 7 steps, including business planning, securing funding, and pre-launch marketing.

We’ve helped several new gyms and fitness studios to launch their businesses, so we know exactly what’s involved. Having worked in the fitness industry for 15+ years, we understand the operational, marketing, and financial aspects to setting up a successful business. So, you can shortcut the learning curve and benefit from our expertise in this guide…

How To Start a Gym or Fitness Studio – Overview

Here’s an overview of the seven steps towards opening a gym or fitness studio…

  • Define your idea
  • Create a plan
  • Secure funding
  • Find a location
  • Set up your gym
  • Grow your business

Let’s dive into each of these start-up steps in more detail…

#1 – Define Your Gym Business Idea

The very first step is to define the business idea for your gym, fitness studio, or health club. What’s the concept? Who is it aimed at?

For some people, this will come easily. They may have had a great fitness-themed business idea for a long time but only just decided to give it a go. But for others, this initial part can be tough. 

Perhaps you’re keen to start a fitness business but aren’t sure what kind of venture to go for. Or you want to look at all the options before making a decision. If so, then here is a list of gym business ideas that you can consider…

  • Classic gym or fitness centre
  • Boutique fitness studio
  • Gym franchise (Anytime Fitness, Snap, Orange Theory, etc.) 
  • Yoga or Pilates studio
  • Personal training studio
  • CrossFit box
  • Health club
  • Online fitness training business
  • Or you can start a business related to gyms, like a fitness equipment or accessories distributor, workout clothing brand, mobile personal training business, or fitness supplement manufacturer .

At this stage, it’s also important to think about what will make your fitness club different from others in the local area. Will you be aiming for a specific target market or type of exerciser? Will your gym be a high-end premium concept, a boutique studio that specialises in doing one thing well, or high-volume low-cost model?

The fitness industry is competitive, so for your gym to be successful, it’s vital to think about what’ll give you a competitive edge. Doing this from the start means you can mainstream it into your business plan, make your funding bids more appealing, and choose a location that supports your concept. Defining your unique selling point (USP) will set your business up for success long-term, so it’s crucial to do this from the get-go.

Fitness Business Ideas List Pinterest

#2 – Create a Gym Business Plan

Once you’ve defined your idea, you need to create a business plan for it. This will help you assess the viability of your concept and consider all of the little details. It’s also required for things like loan applications and renting commercial space.

Creating a business plan for your gym is vital if you want it to be a success. In fact, research shows that people who complete business plans are nearly twice as likely to successfully grow their businesses, or obtain capital. 

“Business plans double the chance of success”.

A solid gym business plan should include the following…

  • Executive summary
  • Industry and local market analysis
  • Company overview
  • Products and services
  • Sales and marketing strategy
  • Financial information
  • Implementation plan

Fitness Business Plan PDF Template

By covering these points, you’ll ensure that there’s adequate demand for your offering and you have a well-defined gym target market . It’ll also help you to understand the exact costs involved and whether you can afford to do it alone or need outside funding.

For a more detailed explanation of what each of these areas should cover, check out our article on writing a fitness business plan (with samples). Or get the start-up planning cheat sheet as part of our Fitness Business Templates bundle…

#3 – Secure Funding For Your Fitness Business

Once you’ve developed a sound business plan, you’ll be armed with the right info to seek funding for your gym. For some gym start-ups, this might involve securing several hundred thousand dollars to cover initial business costs. For leaner fitness businesses, you can do it on a smaller budget without the huge overheads.

Your business plan will help you estimate how much money is needed to start your fitness venture. It costs between $2000 and $4m to start a gym business, depending on the location and model you choose. Based on stats from Entrepreneur, here are approximate costs of starting different types of fitness business…

  • Big-box gym start-up costs (e.g. Planet Fitness) – $1.1-$4.2m 
  • Cost to start a small-medium sized gym (e.g. Anytime Fitness) – $77,000-$520,000
  • Boutique gym start-up costs (e.g. Orange Theory) – $575,000-$1.5m
  • Cost to start a fitness studio (e.g. Pure Barre) – $198,000-$446,000
  • Pilates studio start-up costs (e.g. Club Pilates) – $168,000-$280,000
  • Cost to start a group exercise class business (e.g. Jazzercise) – $2000-$7000
  • Bootcamp business (e.g. Fit Body Boot Camp) – $136,000-$198,000

As you can see, the money required to start a gym varies from a couple of thousand to several million dollars. Factors like the venue type, location, and equipment required will all influence the overall cost.

So, how do you secure funding for your gym or fitness studio? The most common sources of finance are…

  • Business loans from traditional banks
  • Business loans from online lenders
  • Loans from gym franchise preferred suppliers
  • Personal savings

Choosing the right funding option for your business will depend on a huge number of factors. It’s best to do your own research, speak to financial experts, and read the small print thoroughly so you know all of the implications involved in any borrowing.

If you want to open a gym with no money, then the key is to start small . Running a personal training business or selling online fitness programs are both good options. Neither requires investments in rent, equipment, or staff salaries, so you can save money towards a gym studio while running them.

You can also look for creative ways to cut your costs and open your gym on a tiny budget…

  • Find empty commercial spaces or shops and negotiate with the landlord. They might agree to let you run a short-term fitness pop-up for free rather than let it stand empty or be open to a revenue-share agreement where they receive a percentage of your profits instead of rent.
  • Ask gym equipment manufacturers if they’ll lend you some kit for free , in return for being a case study or showcase site. Equipment companies are always looking for impressive locations where they can show off new products, stage photo shoots, and customers who’ll give testimonials to other gyms.
  • Call in favours from your network to reduce costs wherever you can. You’re bound to have friends or family who can help with painting, carpentry, plumbing, graphic design, and numerous other jobs that’ll save money when opening your gym.

Opening your own gym or fitness studio can be expensive, but it doesn’t have to be. The key is to find creative ways of cutting the big costs, like rent and equipment. Don’t be afraid to ask – you might get a few ‘nos’ but when you finally get a ‘yes’ it’ll be worth it!

#4 – Find a Good Location for your Gym

The next step is to find the perfect location for your fitness business. There are lots of things that go into a good venue but the key is to find a place where your target customers are and rent is affordable.

Central gym locations will be more expensive. It’s great if there’s plenty of passing traffic but ask yourself if they’re your ideal demographic. Being close to your target market’s places of work, favourite hangouts, or residential areas are all good bets.

But it’s not just customers and cost that define a good gym location. In fact, Virgin highlight six different factors to consider when choosing the perfect business location . These are…

  • Accessibility
  • Competition
  • Business rates
  • Skills base in the area
  • Potential for growth

How easily customers and staff can access your location, security and crime rates, and proximity to competitors can all affect whether a location is suitable. It’s also important to consider local business rates (for utility bills), whether staff in the area will have the right gym skills, and if the location can accommodate growth. Doing your research, knowing what you want, and being patient until the right gym location becomes available will all stand you in good stead.

#5 – Set Up Your Gym

Once you’ve got a location sorted you can begin to actually set up your gym business. This means getting everything ready, from business licences and staff, to interior decor and equipment. 

You should aim to do this as quickly as possible without undermining quality. Once you’ve started paying rent on your location, your bank balance will start decreasing quickly. So, it’s vital to open and get your members in the door as soon as possible. 

To start a gym you will need…

  • Business license
  • Electrics and plumbing
  • Changing areas, toilets, and shower facilities
  • Interior fit-out, design, and decoration
  • Gym equipment and accessories
  • Trained staff
  • Operational processes
  • Membership models and pricing

Let’s look at each of these areas…

Business License

Obtaining a business license is a crucial first step. Research your local regulations, complete the necessary paperwork, and pay the required fees. Compliance with local laws ensures your gym operates legally and avoids potential legal complications in the future.

Acquire comprehensive insurance policies tailored for gyms. This includes liability insurance to safeguard against accidents, property insurance to cover equipment and facilities, and potentially business interruption insurance to protect against unforeseen events that could disrupt your operations.

Electrics and Plumbing

Ensure your gym has a safe and efficient electrical and plumbing setup. Hire licensed professionals to assess, repair, or install wiring, lighting, and plumbing fixtures. Safety and functionality are paramount to providing a secure environment for your clients.

Changing Areas, Toilets & Shower Facilities

Design comfortable and hygienic changing rooms, equipped with lockers, benches, and adequate lighting. Install clean and accessible toilet and shower facilities. Think about ease of cleaning and privacy when designing these areas to enhance the gym experience for your clients.

Interior Fit-Out, Design & Decoration

Create an inviting gym atmosphere by incorporating the right lighting, colour schemes, and branding elements. A well-designed interior can boost motivation and create a positive gym environment, which both have a positive impact on member retention and cash flow.

Gym Equipment & Accessories

Invest in quality gym equipment that’s tailored to your target audience’s needs. Depending on the type of gym you’re opening, this might include cardio machines, free weights, resistance training equipment, and accessories like mats and water stations. Balance functionality, durability, and cost-effectiveness when selecting equipment.

Trained Staff

Recruit certified trainers , experienced instructors, friendly front-desk staff, and meticulous cleaners. Ensure they are well-versed in customer service, first aid, and emergency protocols. Regular training sessions keep staff updated with fitness trends and ensure a professional and knowledgeable team.

Operational Processes

Establish efficient operational processes, including membership management, class scheduling, payment systems, and cleaning routines. Use gym management software to streamline administrative tasks, track memberships, and communicate effectively with members. Clearly defined processes ensure smooth day-to-day operations.

Membership Models and Pricing

You will have already developed pricing models in the business plan stage, but now is the time to refine and establish them. Determine your pricing structures, payment methods, and cancellation policies. Transparent and flexible membership options enhance customer satisfaction.

By addressing these areas during the setup phase, you’ll establish a safe, appealing, and well-equipped space for your members. It’ll build a strong foundation for success and allow you to press ahead with promoting your new fitness facility…

#6 – Launch Sales & Marketing

When opening a new gym or fitness studio, your launch efforts are vital to its success. It’s essential to sell as many memberships as possible in advance to maximise cash flow from the start. This means going all out on your sales and marketing efforts asap.

Some of the most effective ways to market a gym and generate pre-sales include…

  • Early-bird offer – offer a big discount to members who sign up two months before opening, and decrease the discount as the deadline gets closer (so customers are incentivised to act immediately or risk missing out).
  • Use 3D layouts and fly-through videos – to help potential members visualise the gym space. It’s natural for people to want to wait and see what the gym’s like before committing. But visuals help overcome this objection.
  • Elevator pitch – You’ll need a one sentence elevator pitch to use when talking to potential new members. It should summarise exactly who you help, what you do, and how long it takes e.g. “ We help [insert ideal client] to [overcome common problem] in [time frame]”.
  • Sales pitch – You’ll also need longer sales points to use with potential clients and answers to common objections. Explain the concept, what you’re trying to achieve, and the story behind why you’re doing it. Then talk about all of the start-of-the-art equipment, brand new training techniques, or anything else that sets your club apart from the competition. 
  • Website & Social Media – Create a website for your gym and social media profiles . Your website should contain all the info about your facility that a prospect or existing member might have, and both should act as a sales funnel for generating new membership leads .
  • Google My Business Listing – Set up your a free ‘ Google My Business ‘ listing so that anyone who searches for your gym online will see its location and contact details.
  • Organise a big launch event – to celebrate the gym’s opening and invite local media to attend. Promote the event on social media and give people a good reason to attend. They may not care about an opening but they will care about free fitness workshops, nutritional counselling, or tasty treats.
You might also like… 10 Effective Ways To Market Your Gym Or Fitness Centre .

It can be helpful to have a ‘soft-launch’ prior to the main event. This enables you to test out all of your processes and equipment before the hoards arrive. It also allows new staff to put their training into practice so that everything operates super-smoothly when you do open properly.

#7 – Grow Your Gym Business

Congratulations – at this point your brand new gym will be open! Of course, some would say that this is when the hard work really starts. But it’s a fantastic feeling to have opened the doors after all the effort getting your gym started.

Now it’s all about running your gym successfully and growing your business. We’ve seen gym owners do this in endlessly creative ways, but a few of the most effective include…

  • Marketing & Promotion – Continue your marketing efforts post-launch to drive a continual stream of leads and customers. Combine social media, digital and local advertising , and community events to promote your gym. Consider offering promotions or referral incentives to attract new members.
  • Community Engagement – Foster a sense of community within your gym. Organise fitness challenges , workshops, and member-exclusive events. Encourage trainers and staff to engage with members, creating a friendly and supportive atmosphere.
  • Maintain Your Equipment – Establish a regular maintenance schedule for gym equipment. Prompt repairs and replacements ensure that all machines are safe, functional, and in good condition. Regular maintenance also prolongs the lifespan of your equipment, saving costs in the long run.
  • Member Feedback & Satisfaction – Implement systems for collecting feedback from members. Regular surveys or suggestion boxes can provide valuable insights into member satisfaction. Address concerns promptly and use positive feedback for testimonials and marketing materials.
  • Continually Improve & Innovate – Strive to enhance the experience for members, to keep them coming back and telling all their friends too! Along with acting on feedback, use tech to improve your operations. Consider implementing apps or software for class bookings, personalised workout plans and progress tracking, or to aid administrative tasks, making operations more efficient.

Starting a Successful Gym Business

So, now you know exactly how to start a gym business and set it up for success. By following these steps, you’ll maximise your cash flow and profitability early on. This is the key to ensuring that your business lasts over the long-term and becomes a well-established brand in your community. 

If you’d like a little help along the way, then check out our Fitness Business Templates . They include a business planning cheat sheet, 50+ creative brand name ideas, and loads of sales and marketing resources too. 

Start a Successful Fitness Studio Gym Pinterest

Caroline @ Wellness Creative Co

Qualified personal trainer (BSc Sports Science) & nutritionist (MSc Human Nutrition) with 15+ years of fitness & wellness marketing experience working with global brands.

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  1. Business Plan For A Gym Templates: How To Write & Examples

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  1. Gym business tip para sa mga magupisa ng gym / Salamat sa tiwala Sir Jordan ng Solano, Nueva Viscaya

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COMMENTS

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  2. How to Start a Gym: Your Complete Guide to Success

    Step 1: Define Your Gym's Vision and Mission Clearly define the purpose and values of your gym. This will help you create a unique brand identity and attract like-minded individuals who resonate with your vision. Step 2: Conduct a Feasibility Study Perform a thorough feasibility study to assess the viability of your gym business.

  3. Most Popular 8 Gym Franchises in The Philippines for 2023

    360 Fitness Club Founded in: 2010 Franchise units: 5 Initial Investment: from ₱4,850,000 Franchise fee: from ₱485,000 The 360 Fitness Club is one of the new gym franchise business opportunities in the country, to cater the needs of people passionate about their fitness. 360 Fitness Club business plan includes the brand's signature fitness programs.

  4. 6 Quick Tips on Starting a Gym or Fitness Center Business

    1. Estimated Starting Capital 2. Fitness Equipment 3. Gym Staff 4. Business Location 5. Beyond Body Building 6. Membership Rates Final Thoughts 1. Estimated Starting Capital A regular-sized weight training gym costs around P3 million to P5 million today. If you want a warehouse-sized operation, it can cost more.

  5. What are the things needed to consider when starting a Gym business

    What are the things needed to consider when starting a Gym business? Business So I saved up at least 350k for a capital to put up a gym. Anu mga kailangan ko malaman bago sumabak sa negosyong to? How much potential profit will be earned? thank you sa mga sasagot.

  6. The Best Gym Franchises in the Philippines ~ iFranchise.ph

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  8. Gym Business Plan: A Checklist With Templates & Examples

    December 2, 2022 16 min read In this article, you'll find a checklist of everything you need to know to create a business plan for your gym or fitness business. If you've recently discovered an ambition to start a gym, or this has been your dream for years, we've got you covered! The first step in your journey is to create a gym business plan.

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  11. 7 Philippines Fitness Service Industry Statistics [Analysis]

    Philippines' Fitness Industry Continues to Grow. The Philippines added fitness centers at a CAGR of 7% between 2013 and 2018. Experts predict the fitness market revenue in the Philippines will soar at an 8% CAGR between 2018 and 2023. From 2018 to 2023, the number of gym memberships in the Philippines is expected to grow at a CAGR of 11% or ...

  12. Creating a Gym Business Plan

    A gym business plan will clearly define the structure of your business, give you a comprehensive insight into your target market and help you lay out your management structure, marketing strategy and financial strategy.

  13. How to create a gym business plan

    Operations plan. Marketing and advertising. Financial plan. 01. Executive summary. The executive summary is a concise overview of your gym business plan. It provides an introduction to your gym, highlighting its unique selling points and summarizing the key elements of your plan. The executive summary should include a brief description of your ...

  14. The Best Gym Franchises in the Philippines

    If you're interested to become a gym business owner, then check out these four (4) gym franchises in the Philippines, and get to know what gym suits best to your target market. ... Interested franchisees are assured that they can receive assistance from a well-established global business. Estimated Cost of Investment: $25,000 - $40,000;

  15. 8-Step Easy Guide To Building A Lucrative Gym Business Plan

    01. Produce a concise executive summary. This component of the business plan is essentially a summary or overview. Give a brief explanation of your gym, as well as a synopsis of the market research you've completed. Then there must be a description of how your gym is particularly equipped to compete in this market.

  16. How to Start a Gym or Fitness Center

    Get clear on why you want to start a gym or fitness center. Your reason behind opening a gym will help you maintain the focus, clarity, and drive it takes to become a successful enterprise. Be honest with yourself. You may find that instead of starting a gym, you want to become a personal trainer or fitness instructor.

  17. Anyone running a Gym business here in PH? : r/Philippines

    Modern technology brings all types of businesses many benefits. Gyms and fitness businesses can specifically take advantage of online class scheduling software, interactive workout equipment, and membership access cards. Many experienced business owners compare their budget to a roadmap. They use this analogy because a detailed budget will help ...

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  21. Gym Business Plan Template + Example

    Written by Dave Lavinsky Gym Business Plan & Example You've come to the right place to create a gym business plan. We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their gyms. You can easily download the gym business plan (including a full, customizable financial model)

  22. Fitness Business Plan Template (+ Free Examples)

    Fitness Business Plan Template (+ Free Examples) Posted by Tyler Spraul, Certified Strength and Conditioning Specialist® (CSCS®) on July 14, 2023 — Updated on November 26, 2023 Use this free fitness business plan template to modify and use as you learn how to create a fitness business plan. Do you dream of starting your own fitness business?

  23. How To Start a Gym Business In 7 Steps (+ Start-up Templates)

    Here's an overview of the seven steps towards opening a gym or fitness studio…. Define your idea. Create a plan. Secure funding. Find a location. Set up your gym. Launch. Grow your business. Let's dive into each of these start-up steps in more detail….