“If your actions inspire others to dream more, learn more, do more and become more, you are a leader.”— John Quincy Adams, 6th President of the United States
Fitness industry is something that never gets older and after the pandemic, fitness has become the first priority for everyone. So it is the best time to start a fitness startup. By starting a fitness startup, you can build a big business out of it. So here I am going to share everything that you need to know before starting a fitness business.
Step-1 What to choose?
Now the fitness industry is not just limited to the gym and Yoga only. So before you start your fitness startup, you have to decide in which sector you want to enter?
There are various types of fitness startups such as Personal Training, Zumba, Aerobics, gyms, Boxing and Martial Arts, Health and Fitness Clubs, Fitness Influencers, and many more. Choose wisely, Which one do you want to start as a fitness startup?
Step-2 Expenses and break-even point
Whenever you are going to start any type of startup, one of the first things that come to our mind is that how much money you should put into your new business?
After completing step-1, calculate all of your expenses like Salaries of employees, Equipment expenses, Infrastructure expenses. How much time you will take to make your startup profitable also known as the break-even point.
This step is very important, we have to analyze things deeply so that we don’t face any financial problems in the future. Now after completing step-2, let’s move to the next step.
Not just fitness startup but any of the startups you are starting out need to be registered. You may have a question in your mind that Why registration of a startup is important?
It is very important because if you register your business you will get many benefits such as legal support, You can avail government schemes, You can easily get a business loan, and many more.
What is registration?
How do you want to register your fitness startup such as a Sole proprietor, Company, or partnership? GST number, Name of your business, and all the necessary important licenses which depend on the industry to industry.
This whole process is known as the registration process.
Step-4 Location of your business
Another thing that is very important is the location of your business. Before you start your business, you must choose where you want to open your fitness startup because in the fitness industry location matters a lot. A premium location provides premium customers.
If you’re opening it up in a market where a lot of businesses related to your industry are already stable, it can be difficult to grow your startup.
In fitness startups, infrastructure matters a lot. You have to create a positive environment so that the consumers feel motivated and positive while doing exercise. It is very important for your fitness startup to give the right kind of infrastructure to the people.
Step-6 Target Market and Equipment
What kind of fitness equipment do you use in your business to attract a consumer. For example- Whether you want to target a market that pays well or you want to keep the price low so that you can attract more and more people.
Price per customer 18,000 per anum 1500 per month
Price per customer 36,000 per anum 3,000 per month
What kind of employees you want to hire depends on your startup model and the budget of your fitness startup those who are highly trained or who are new to the field. Because staff or employees are the backbones of any business, without them you cannot run your fitness business.
Step-8.Marketing and Brand endorsement
Without marketing, it is hard for you to grow your business. There are various sources to market your new startup such as digital marketing, newspaper, TV Ads, mouth publicity holding and influencer marketing, etc.
You can also do brand endorsements with celebrities from various fields like cricket, Bollywood, and youth icon. Many fitness startups and businesses do brand endorsements for example Virat Kohli did brand endorsement with Boost Energy, Sahil khan with body power, Malaika Arora, and Jennifer Lopez with Sarva.
What different you will offer to consumers? There are many fitness startups and businesses you can see near you, but what will you do to make your startup more popular. You can provide free diet plans and give some valuable advice to the customer.
Step-10 Tie-up with different business
You can do a tie-up with other fitness businesses for example- you can do a tie-up with nutrition, fitness shops near you, and health experts near you.
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Getting funding is not easy these days. You need to do a lot of hard work to get funding from an investor or other companies. It will take some time before you get funding for your business but it is best if you bootstrap your business if you will take funding you will lose control over your business.
Starting a Fitness startup is not easy it will take a lot of hard work but if you are able to do that then you will become one of the best market players in the world because there are a lot of chances to grow in the fitness industry.
FACT– Revenue in the Fitness segment is projected to reach US$2,152m in 2021.
1. How to start a fitness business with no money?
You can start at a small level by providing personal training door to door.
2. How to start a fitness business online?
You can easily do this by starting a youtube channel.
3. Best fitness business experts?
Sahil Khan and Luke Coutinho
4. Fitness equipment business expense?
Depends on you which kind of equipment you want to install
5. How to market the fitness startup?
With the help of Digital Marketing.