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In this section, you will present the costs associated with the initial investment and the spending plan for the first year of operation.
List the costs, dividing them into two groups:
After opening a gym, verify the costs regularly, preferably once a month.
Investment costs include, among others:
Regarding point 5 and 6, take into account a very important monthly purchase, which will however save your time and money finally. It’s a gym management software. You can compare some of the software providers on the market to meet the best gym management software . Yet, what we recommend is WodGuru . With its reasonable price, many useful features, amazingly helpful support and nice cartoon visual identity.
Create your own gym website in minutes.
Use WodGuru website creator to craft a site that turns visitors into customers. Don’t hesitate to contact WodGuru now.
How to finance the opening of a gym?
The biggest problem for a novice gym owner is finding financing for the first business. Various options are worth considering.
Considering bank loans or a subsidy, you must first think about the black scenario. What will happen if your business fails and you have to return the borrowed money? But also what to do to prevent this from happening? How much does it cost to open a gym and which costs are inevitable? How high the margin you have to impose on the training performance? This is the key to assessing the chance of return on investment in the gym.
The financial forecast consists of 3 elements:
Profit and Loss Account You will need to estimate the value of the sale considering the size of your gym, target market, sales volume, and revenue cost. You will get a profit and loss forecast, comparing this with the costs. The easiest way to prepare a profit and loss account is in the form of a table:
Months of running a business | Month 1 | Month 2 | Month 3 | e.t.c. |
---|---|---|---|---|
Number of fitness classes per month | ||||
Average class value | ||||
Monthly income (turnover) | ||||
Variable costs per month | ||||
Fixed costs per month | ||||
Profit per month | ||||
Profit margin (in percentages) |
Investors will want to know how much revenue you will need to generate each month to break even after all fixed and operating costs are considered. In the analysis, you should show how you intend to generate the necessary revenue, even in difficult months with lower sales.
It is worth doing it to assess the negative scenarios.
This will allow us to be prepared better for different financial crises and reduce stress when such a situation arises.
Make a sensitivity analysis in the form of a table
– – – | – – – | – – – | – – – |
Business is people. Describe what your team will look like, dividing it into two groups:
If you are looking for investors, this area can be critical for them.
Describe the founders:
Which positions are necessary for the daily functioning of the premises? Is it the receptionist, a permanent personal trainer, an outsourcing trainer, social media platforms specialist, etc.? Who will suffice as emergency help?
Think about which people you already know with the necessary competencies. Which ones will you have to look for or train as your employees from the beginning? The cost of necessary training should also be included in the gym business plan.
Describe the team you need to build:
Ideally, your marketing strategy should include the items we listed. Below we describe how to do effective marketing in your branch.
Create image of your gym with ease.
Increase your customers’ satisfaction by using the WodGuru gym CRM system, no expertise required. Sign up for free!
Determining the direction of development is very important at the beginning of your business. When setting gym goals you want to achieve in a certain time, you should start with the wider ones, reaching those at the everyday level. It is also worth considering how you want to achieve these goals.
During project execution you need to observe and adapt initial goals. It enables effective management and reduces losses in marketing, service, and other areas. Your gym’s written plan should clearly outline the vision and strategies to achieve desired objectives.
We created a sample gym business plan to help you write your plan. Click below to download an example of a business plan for a gym.
Download: Free gym Business Plan Template
Let the customers book classes and trainings online
Set up a gym booking software for your website in minutes. Boost revenue while saving time.
Key Takeaways
How to write small gym business plans.
Regardless of the size of the gym or business, the steps of gym business planning remain the same. Writing this document for a small gym consists of creating:
In our opinion, yes. If you are serious about putting your place in the whole fitness industry, you must implement a repetitive method of working “on the company”. A BP that is updated regularly every month and year is a way to run a business.
Opening a gym with no money can be challenging, but it’s not impossible. Here are some ways to open a gym without enough funds:
Discover more ideas on how to open a gym with no money.
Promoting a gym is key to attracting new guests, increasing sales and retaining regular customers. A few steps to help you promote your gym:
Check these gym promotion ideas for inspiration.
A gym’s profit depends on many factors, such as location, offer, prices, service quality, and business size. The average gym profit margin is between 10 and 15% per year, but it can vary significantly depending on the factors mentioned above.
Franchise gym profits on the lower end of 10%, boutique fitness studios averaging 20% to even 40% profit margins, and CrossFit gym profit margins in the 25-30% range.
A gym business plan is crucial for several reasons:
How to Write a Pilates Studio Business Plan (Step-by-Step Guide + Free Template)
How to Write a Martial Arts Business Plan (Step-by-Step Guide + Free Template)
How to Write a Dance Studio Business Plan (Step-by-Step Guide + Free Template)
How to Write a Yoga Studio Business Plan (Step-by-Step Guide + Free Template)
Opening a gym, 20+ types of gyms (guide for gym owner with examples), gym revenue, how much do gym owners make in 2024, how much does it cost to open a gym in 2024, we will send the materials to your email.
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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 ? 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.
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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[business/brand name], executive summary.
Business Concept
Mission Statement
Vision Statement
Nature of the Business
Target Market
Industry Overview
Target Market Analysis
Competitive Analysis
Service/Product Offering
Pricing Strategy
Marketing Plan
Sales Strategy
Daily Operations
Facilities and Equipment
Suppliers and Partnerships
Organizational Structure
Management Team
Start-Up Costs
Revenue Projections
Profit and Loss Statement
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.
Dynamic pulse gym.
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.
Holistic harmony online coaching.
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.
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.
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.
Gym business plan.
If you want to start a new gym business or expand your existing business, you need a detailed gym business plan.
Since 1999, we have helped over 10,000 fitness business owners create business plans to start and grow their gyms, health clubs, martial arts studios, fitness studios, and other athletics businesses.
A good business plan includes financial projections, detailed strategies and action plans. We recommend that you start with a simple gym business plan template.
Below are links to each section of a winning gym business plan:
Start Your Gym Business Plan Here
Next Section: Executive Summary >
What is the easiest way to complete my gym business plan.
What is a gym business plan.
A gym business plan provides a snapshot of your gym business or fitness center as it stands today, and lays out your growth plan for the next five years. It explains your long-term goals and your strategy for reaching them. It also includes solid market research for your local target market to support your plans.
Once you have a handle on your market and the basics of running a small business, include more detailed information in your formal gym business plan. This better prepares you for financial negotiations with banks and other business opportunities to help your fitness business grow.
To secure funding for a gym, the main sources of funding are small business loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a solid gym business plan will give them the confidence that you can successfully and professionally operate a business.
The second best way to secure funding for a gym is through angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding or, like a bank, they will give you a loan. Venture capitalists will not fund a gym. They might consider funding a chain of gyms, but never an individual location. This is because most venture capitalists are looking for millions of dollars in return when they make an investment, and an individual gym or fitness center could never achieve such results.
A business plan for a new gym will include your purpose for entering the fitness industry, key market data, direct and indirect competitors, and a more detailed description of your marketing plan, management team, target customers , and more. Outside of the 10 key elements noted in the gym business plan outlined above, you may also include the following information:
As you can see, a business plan for a gym is comprehensive and detailed. It should be updated regularly to reflect your changing business goals and strategies. Having a well-written business plan is essential to any successful gym or fitness center.
There is no one-size-fits-all answer to this question, as the marketing strategies that are effective for a gym will vary depending on the type of gym you own. However, some general marketing tips include:
As you can see, many marketing strategies can be effective for your gym. Your marketing strategy should support your overall business strategy, which is defined by your vision and mission statements and unique selling proposition.
We have several articles to help you start a new gym or grow your existing business:
GYM BUSINESS PLAN OUTLINE
BUSINESS STRATEGIES
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.
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, gym 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 . Today, 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. Be inspired by these fitness website examples .
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
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.”
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.
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.
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.
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.
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. In addition to the cost of opening a gym , you'll need to consider 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
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.
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
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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February 8, 2023
Whether you are starting a studio, or already run one, a well-crafted fitness studio business plan is essential for building a profitable fitness business. A solid gym business plan helps you stay on track by identifying key market dynamics, illuminating opportunities for competitive advantage, and giving you key performance metrics to focus on.
Your fitness studio business plan may drive such critical decisions as where to locate your gym, how large a space to buy or lease, how many staff members you hire, what their pay rates should be, how many fitness classes and what type of classes and training programs you’ll offer, and the most effective ways to promote your fitness business.
If you own and operate an already established fitness business, revising your business plan – or creating one if you never have – can make a huge difference in boosting your bottom line and helping you to grow, especially if your gym’s growth has plateaued. A business plan is a constantly evolving blueprint that should reflect where your fitness business is in the moment, and let stakeholders know where you’re going and how you plan to get there.
In this post, we’ll review the elements of a solid small gym fitness plan, give you some gym business plan examples and links to gym business plan templates.
Executive summary.
In this section of your gym’s business plan get down on paper your “why.” What is the purpose of your fitness business plan? What elements will you include in your gym’s business plan and why? How will this business plan demonstrate the viability of your fitness studio over time? What are your long term goals and how will you define success? Consider this section your “elevator pitch.”
Starting a fitness business is no small feat. Doing your homework up front will not only give you confidence to weather the ups and downs of running your own business, but show potential investors that you’re prepared. Imagine being an investor who is reading your business plan, and whom you want to assure that you’ve got a solid vision backed up by well researched facts and figures. Add a few lines about your fitness business’s “why” that inspire and demonstrate your passion and commitment as a small gym or fitness business entrepreneur.
This is the place to give all the details about who, what, where, when and why your fitness business exists. Include your mission and vision plus a detailed description of the type of services your fitness business offers and to whom. How is your gym or fitness studio structured? Is it independently owned by one or more people? Is it a franchise? Is there more than one location? What is the ownership structure? Are there shares? How are important business decisions made and by whom?
This is the place to give clear, concise information about the products and services you offer, why you started your fitness business and what differentiates you in your local market.
Taking time to research your market, understand trends and map the competitive landscape can make or break a fitness business, whether you’re in start-up mode, or an established player.
What is your population size? How far are the people living in your area willing to travel to work out? What is your target demographic in terms of age, gender, income and other lifestyle factors? Pinpoint your major competitors. Get to know their pricing and promotions. Is there an unmet need in your area that your fitness business can tap into? You may want to consider using a SWOT format, outlining the strengths, weaknesses, opportunities and threats for competing gyms and your fitness studio.
Also, make sure you’re on top of the latest national and global fitness industry trends like online workouts and gym-goers’ preference for small boutique fitness experiences versus big box gyms. What innovative programs and services are top companies offering? Why?
Many small fitness business plans rely solely on word of mouth to promote their gym. While getting great recommendations through your community is an essential step in building a thriving fitness community, long-term, your fitness studio needs to have a solid, multi-channel marketing strategy to maximize your brand’s exposure to potential new customers.
In today’s competitive fitness industry landscape, it’s essential to understand how to efficiently use digital marketing platforms like social media, local search and email. To effectively run promotional programs, having a fitness business software platform that tracks your customer’s engagement and includes email, web and social media integrations is essential.
List all the key members of your fitness studio’s leadership team and include professional, biographical information that highlights their skills and experience. Your gym’s leadership team could include owners, board members, investors, lead instructors, sales and customer service representative and any business advisors you may have brought on board.
Describe how each person on the team will guide your fitness business to success. Consider including compensation structures and information about performance bonuses. Plan ahead for an eventual sale of your fitness business and formalize how owners and/or investors will be paid.
This is the section where many new business owners are overly optimistic. Base your financial projections on fact and always over-estimate expenses and under-estimate revenues. This includes being realistic about membership sales, seasonal fluctuations, attendance and staff turn-over. Calculate your gym’s monthly expenses and then figure out what your revenue per class or training session needs to be to cover your expenses plus owners’ compensation. From here you can determine how many class passes and/or monthly membership’s your fitness business will need to be profitable.
There can be a high turn-over rate in the gym business, so you’ll need a steady stream of potential new students coming through your doors each month, and know at what rate they will convert into long-term customers. Know your fitness niche’s average new student conversion rate.
Build out at least five years of financial profit and loss estimates. Be sure to take into account any rent increases in your lease, taxes, increases in instructor pay and get granular with your expenses, from phone and internet to Facebook ads to the toilet paper in the bathroom, and don’t forget all those new cleaning products you’ll need to operate safely and courteously in a post-pandemic world.
BusinessPlanTemplate.com This site offers a free outline of all the core content you’ll need to include in a fitness studio business plan. You can purchase a step-by-step business plan builder, including access to customer service and expert advise for $97. Business Plan Template.com is rated A+ by the Better Business Bureau and has strong, positive ratings from satisfied customers.
Bplans If you need a bit of inspiration check out or Bplans DIY gym sample plans for fitness centers, corporate fitness, gyms, health clubs, as well as martial arts studios, gymnastics schools, and a number of other athletics businesses.
For those who want a higher level of support in creating a full fleged, modern business plan, Bplans offers a paid option called LivePlan . It contains the same templates and information you can access for free on the company’s website, plus additional guidance to help you develop a complete plan. Pricing starts at $12/mo. for a year subscription or $18/mo for a 6 mo. plan.
Institute of Personal Trainers This well-respected trade organization offers personal trainers a free business plan that includes step-by-step instructions. You can download the guide using the link on the association’s website. The institute understand that during the process of writing a business plan you will be presented with questions, ideas or challenges that you might not have thought of before. According to the organization, this alone makes it worth doing.
Remember, it’s better to start the process of creating a gym business plan, even if you feel intimidated, than to procrastinate until you feel you’ll get it perfectly right. There is a wealth of knowledge to be gained simply by going through the process. Writing out your fitness studio business plan may open your eyes to blind spots in your business strategy or long-term performance goals and shift your business into a whole new realm of growth opportunity in the coming year.
Our top 7 business tips for opening a yoga studio, new customer workflow – combining automations to enhance customer onboarding.
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Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">, opportunity.
There should be a place where women can work out without worrying about behavior of men. Women know why.
Ladies Only Fitness’ focus is the urban professional woman who has a very active life and very little time to spend on fitness. We also focus on young mothers who are looking for a fitness environment that is focused on their unique needs.
Mapleton is a city on the move. The population has grown by 10% each year for the past three years. The current population of Mapleton is 600,000.
Most importantly, the growth has been fueled by the increased employment in the city’s high-tech companies. This has attracted a type of professional that is the target customer for the Ladies Only Fitness. The women we are targeting are looking for a different type of fitness club experience. At Ladies Only Fitness, they will be the total focus of our staff.
Another target group is young mothers who are looking for a club that will fit their needs and keep their children close. Ladies Only Fitness has designed the facility so that the child care center can be seen by anyone working in the main exercise room. We believe that changes like that will be seen as welcome extras that will bring new members.
The key differentiator for us is the women-only plus childcare facilities on site. We compete against several gyms in the area, including franchises of 24-hour-fitness and the local downtown gym.
The competitive advantage of Ladies Only Fitness is the environment that is created in the facility. Women feel more relaxed and comfortable in a program that is focused solely on them. In addition, we have designed the childcare center to be visible from the main workout floor. A young mother can watch her child play in the center while working out.
As the highlights chart below shows, we believe we can launch successfully and pass the $1 million annual sales milestone by our third year.
Financing needed.
Estimated Startup Expenses: $95,000
Assets: $65,000 in startup cash
Total financing: $160,000.
Funding plan: $100,000 in owner funding and a $60,000 business loan.
Problem worth solving.
Many women want a gym for women only. And young mothers need that plus childcare.
Ladies Only Fitness is a women-only health club that creates a personalized environment for women to pursue their fitness goals. We have the best equipment and the best training program in this arena. We prepare our clients for success! We have the best weight-management program. Positive Lifestyle Systems is a truly responsible, effective, weight-management program. We offer this program with confidence. It is unbeatable.
Market size & segments.
Ladies Only Fitness will focus on two customer groups:
We have our gym offerings around town: Snap Fitness, 24-hour-Fitness, Crossfit, and so on. Memberships and features run in standard ranges.
Marketing & sales, marketing plan.
Market Segmentation
Ladies Only Fitness anticipates that sales will be slow for the first and second month of operation, due to our "first month free" promotion. After that point, sales will increase as new members pay for their membership fees.
Ladies Only Fitness is located in the Southtowne Center in southwest Mapleton. The club occupies a 5,500 square foot storefront. The facility has one primary equipment room adjacent to the child care center. The club also has three exercise rooms. The facility can accommodate 110 people.
Milestones table.
Milestone | Due Date | |
---|---|---|
Jan 04, 2020 | ||
Mar 06, 2020 | ||
Apr 19, 2020 | ||
June 05, 2020 |
Ladies Only Fitness is co-owned by Joan Sullivan and Marge Williamson.
The start-up expenses for the Ladies Only Fitness is focused primarily on equipment and exercise surfaces for the classes. Joan Sullivan will invest $30,000. Marge Williamson will invest $70,000. In addition, club will secure a $60,000 long-term loan.
Joan Sullivan will be the operations manager and lead trainer for Ladies Only Fitness. Joan has been a fixture in the Mapleton fitness community for the past fifteen years. She has been the manager of both the Mapleton Athletic Club (three years) and the Maximum Fitness Club (four years).
Her reputation as an effective staff supervisor is excellent. At both the Athletic Club and Maximum, membership increased by 15% each year under Joan’s supervision.
Marge Williamson is a CPA with the firm of Smith, Jones, and Lawrence. Her primary responsibility will be to oversee accounts receivable and operational costs.
2020 | 2021 | 2022 | |
---|---|---|---|
Lead Trainer | $48,000 | $48,960 | $49,939 |
Childcare Staff (2.67) | $72,000 | $110,160 | $112,362 |
Personal Trainers (3) | $76,800 | $117,504 | $159,804 |
Receptionist | $33,600 | $34,272 | $34,957 |
Totals | $230,400 | $310,896 | $357,062 |
Key assumptions.
Expenses by month, net profit (or loss) by year, use of funds, sources of funds, projected profit & loss.
2020 | 2021 | 2022 | |
---|---|---|---|
Revenue | $468,600 | $616,000 | $761,000 |
Direct Costs | $37,488 | $49,280 | $60,880 |
Gross Margin | $431,112 | $566,720 | $700,120 |
Gross Margin % | 92% | 92% | 92% |
Operating Expenses | |||
Salaries & Wages | $230,400 | $310,896 | $357,062 |
Employee Related Expenses | $46,080 | $62,179 | $71,413 |
Marketing | $6,000 | $6,000 | $6,000 |
Insurance | $2,760 | $2,760 | $2,760 |
Utilities | $4,800 | $4,800 | $4,800 |
Rent | $31,200 | $31,200 | $31,200 |
Leased equipment | $18,000 | $18,000 | $18,000 |
Total Operating Expenses | $339,240 | $435,835 | $491,235 |
Operating Income | $91,872 | $130,885 | $208,885 |
Interest Incurred | $2,754 | $2,200 | $1,618 |
Depreciation and Amortization | |||
Gain or Loss from Sale of Assets | |||
Income Taxes | $0 | $0 | $0 |
Total Expenses | $379,482 | $487,315 | $553,732 |
Net Profit | $89,118 | $128,685 | $207,268 |
Net Profit/Sales | 19% | 21% | 27% |
Starting Balances | 2020 | 2021 | 2022 | |
---|---|---|---|---|
Cash | $65,000 | $143,288 | $260,589 | $455,890 |
Accounts Receivable | $0 | $0 | $0 | |
Inventory | ||||
Other Current Assets | ||||
Total Current Assets | $65,000 | $143,288 | $260,589 | $455,890 |
Long-Term Assets | ||||
Accumulated Depreciation | ||||
Total Long-Term Assets | ||||
Total Assets | $65,000 | $143,288 | $260,589 | $455,890 |
Accounts Payable | $0 | $0 | $0 | |
Income Taxes Payable | $0 | $0 | $0 | |
Sales Taxes Payable | $0 | $0 | $0 | |
Short-Term Debt | $10,830 | $11,384 | $11,966 | $12,579 |
Prepaid Revenue | ||||
Total Current Liabilities | $10,830 | $11,384 | $11,966 | $12,579 |
Long-Term Debt | $49,170 | $37,786 | $25,820 | $13,241 |
Long-Term Liabilities | $49,170 | $37,786 | $25,820 | $13,241 |
Total Liabilities | $60,000 | $49,170 | $37,786 | $25,820 |
Paid-In Capital | $100,000 | $100,000 | $100,000 | $100,000 |
Retained Earnings | ($95,000) | ($95,000) | ($5,882) | $122,803 |
Earnings | $89,118 | $128,685 | $207,268 | |
Total Owner’s Equity | $5,000 | $94,118 | $222,803 | $430,071 |
Total Liabilities & Equity | $65,000 | $143,288 | $260,589 | $455,890 |
2020 | 2021 | 2022 | |
---|---|---|---|
Net Cash Flow from Operations | |||
Net Profit | $89,118 | $128,685 | $207,268 |
Depreciation & Amortization | |||
Change in Accounts Receivable | $0 | $0 | $0 |
Change in Inventory | |||
Change in Accounts Payable | $0 | $0 | $0 |
Change in Income Tax Payable | $0 | $0 | $0 |
Change in Sales Tax Payable | $0 | $0 | $0 |
Change in Prepaid Revenue | |||
Net Cash Flow from Operations | $89,118 | $128,685 | $207,268 |
Investing & Financing | |||
Assets Purchased or Sold | |||
Net Cash from Investing | |||
Investments Received | |||
Dividends & Distributions | |||
Change in Short-Term Debt | $554 | $582 | $612 |
Change in Long-Term Debt | ($11,384) | ($11,966) | ($12,579) |
Net Cash from Financing | ($10,830) | ($11,384) | ($11,966) |
Cash at Beginning of Period | $65,000 | $143,288 | $260,589 |
Net Change in Cash | $78,288 | $117,301 | $195,302 |
Cash at End of Period | $143,288 | $260,589 | $455,890 |
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According to Statista , the health and fitness industry generates over $80 billion of revenue every year. With annual revenue that big, it shows that many people are mindful of their physical health. And that they’re willing to make room in their budget to keep themselves in excellent shape. So if you ask us about opening a gym or physical fitness center, we’d say that it’s a profitable business. That said, if you’re planning on launching such a business, we’ll help you get started by offering our business plan examples for a gym!
1. gym business plan template.
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A gym start-up business plan is what you’ll need to formulate strategies and actions to open your gym facility. Its basic elements and functions are the same as those of other business plans . With the countless things that a gym business needs, such as equipment, licenses , permits, and start-up budget , it’ll be hard to prepare them without using a new gym business plan example. It serves as your guide to keep track of your gym business’s progress and status. Other than that, entities who might be interested in supporting your gym will want to see a business plan. They will want to know how feasible it is before they form a partnership with you.
There are several preparations you must do to plan for the gym you want to open. But what we’ll show you here are its four crucial foundations. They’re pretty basic, but they hold tremendous importance for your gym to be successful.
Every business needs a budget; that’s the golden rule. Without a budget, a business can’t start operations. But if it does, its owner is in danger of suffering substantial financial losses. So make sure to establish enough budget to purchase your gym’s necessities. When you make your budget, try to limit the cost of opening a gym as much as you can. As a business owner, it’s essential to have a cost-effective mindset.
Gyms have to be accessible. Otherwise, not many people will be able to visit them. With that in mind, make sure to find a good location for your gym. Aside from being accessible, the location must have plenty of people around it. You can choose areas with other businesses surrounding it, such as malls and business parks.
Of course, you can’t call your business a gym without the proper equipment. So make sure to purchase ones with high quality. See to it that all of them are made of quality materials and are safe for the users. Your gym won’t be able to attract people if it has substandard equipment.
It’s hard to manage a gym all by yourself. Plus, you can’t act as a personal trainer to all of your clients. That’s a lot of responsibility to carry. For that reason, you should hire personal trainers. They can help you plan fitness regimes , plot workout schedules , and entertain clients. Hire those that have a rich fitness background and have experience in managing gym facilities. Offer them an employment contract to be with you for the long term.
Earlier, we’ve talked about a gym business plan and how important it is. Not just important, but also necessary. So here, we’ll show you the four steps in writing a gym business plan.
Talk about what makes your gym unique from other ones. And explain how its training programs will help clients achieve their fitness goals . You can also provide previews and descriptions about how the facility will look and what equipment it’ll have.
A marketing plan plays a big part in putting your gym business on the map. So make sure to explain it thoroughly in your business plan. Talk about how you’ll promote your gym and what platforms you’ll use to make it popular.
The business model is a system of how your gym will get clients, generate revenue, cover expenses, and grow. It showcases your entire gym’s operations. It would help if you had a well-structured business model so that you’ll have a clear direction on how to run your gym. And for sure, potential investors of your gym will want to know its business model.
Most gym and fitness center business plan examples online have an executive summary . It’s the first section of a business plan, and it’s an overview of the business. So, make sure to write one for your gym business plan. It may be the first section, but it’s best to write it last. Please take note that it’s a summary. So it’s like a bird’s eye view of your business plan. If you write it last, it’ll be like writing a short recap, which is more manageable.
These are the types of gyms that you can do business out of:
Here are excellent approaches to bring more people into your gym:
If you’re looking for some gym names ideas, we have some for you:
Those are names that we made up ourselves. You can get inspiration from them.
You might not know it, but your gym will be a place that can change lives for the better. Fitness is key to a better and healthier life, and your gym can bring that to many people. So start moving! Make preparations for your gym business as soon as you can. And let our gym business plan templates help you.
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Text description provided by the architects. Smena fitness center in the za bor architects portfolio is the third sports-related project and the first realize object of this type. A private client who turned to the bureau with this project, wanted to create a large stylish club with high quality equipment and original design. Reasonable prices, due to refusing from many side services offered by network clubs, were to become the main competitive advantage. Thus, an expressional dynamic design created by za bor architects, was meant to become one of the client-attracting factors, a kind of competitive edge of this club.
The client started to look for premises for the future club after the meeting and the project discussion. It took nearly half a year, since a large premises with high ceilings and good insulation was needed. As a result the choice was made in favor of the fourth floor of the Streletskaya Sloboda business center located in the reconstructed building of the former plant.
Time spent on search wasn't spent in vain – during this period the client managed to get a brand book which was developed by a well-known Russian design studio. Its recommendations preconditioned the color choice as well as the format of information and navigation signs in the club.
When designing the premises, the project architects Peter Zaytsev and Arseniy Borisenko, proceeded first of all from functional zoning. In general the fitness center is designed as a laconic space which is the background for dynamic broken volumes that symbolize in this project «dynamics» and «movement» as the quintessence of all sports and healthy lifestyle.
The functionality of various red volumes presupposes placing of locker rooms, coach rooms and other isolated spaces inside, as well as the division of zones according to noise level: in the two largest volumes located are a «silent» office block and a «noisy» hall with fitness cycles with a powerful audio system and constantly played rhythmic music.
One more feature of the club is cardiovascular machines zone. It is lifted 60 cm up in relation to the floor, so that the visitors, while working out, could see the street through the panoramic windows. Passers-by, in their turn, can see silhouettes in the fourth floor windows – thus the issue of the club promotion among the citizens is solved in a peculiar way.
Address: moscow, russia.
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Snap Fitness Moscow, located in Moscow (83843), is the area's 24/7 gym. Our facility is equipped with cardio and strength machines, as well as functional training equipment.
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Fantastic experience: The equipment is all well maintained and the staff is always helpful and friendly. There is plenty of space for everyone. I have had nothing but good experiences while attending this gym!
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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 ...
Gym Business Plan Template & PDF Example. Remi. July 22, 2024. Business Plan. Creating a comprehensive business plan is crucial for launching and running a successful gym. This plan serves as your roadmap, detailing your vision, operational strategies, and financial forecasts. It helps establish your gym's identity, navigate the competitive ...
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. Open Comment Form. In this article, you'll find a checklist of everything you need to create a business plan for your gym or fitness business.
Fitness Industry Outlook. The growing enthusiasm for fitness and the desire for a healthy lifestyle has led to the demand for gyms. As of now, 39% of Americans have gym memberships. The fitness industry has been booming in recent years, and it is expected to have 230 million members by 2030.; The Health and fitness market revenue is estimated to grow at a rate of 11.52% annually, reaching a ...
Step 3: Create a gym business plan using the ready-made template (pattern) described below. Step 4: Review the business plan regularly, every month in the first months of running the gym, and at least once a year in subsequent years. A business plan is a living document that will help your fitness place grow.
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 ...
Download this free physical fitness gym business plan template, with pre-filled examples, to create your own plan. Download Now Or plan with professional support in LivePlan. Save 50% today . Available formats: ... We have over 550 sample business plan templates. So, make sure the plan is a close match, but don't get hung up on the details. ...
Gym Business Plan: A 10-Step Guide. May 29, 2024 Team ABC Trainerize. Starting a gym is an exciting process. But, to ensure your success, it's crucial to create a detailed and well thought-out business plan. A well-crafted gym business plan acts like a roadmap, guiding you through the setup and growth phases of your business.
A business plan for a new gym will include your purpose for entering the fitness industry, key market data, direct and indirect competitors, and a more detailed description of your marketing plan, management team, target customers, and more.Outside of the 10 key elements noted in the gym business plan outlined above, you may also include the following information:
A business plan is a crucial starting point for any business and your fitness business is no exception. You'll want to know what your studio or gym's strengths and weaknesses are and have a path planned for growth. For many just getting started on their journey as an entrepreneur, it can be hard to know what you should include in such a ...
1. Executive summary for your gym or fitness center. Think of the executive summary as the company overview of your gym business plan - it's the first thing people see, and it sets the tone for what's inside. In these few paragraphs, you can grab your reader's attention and give them a sneak peek into your gym's exciting future.
Download the template to create your own gym business plan, including: Executive Summary, outlining your gym's target market, service offering, and competition (i.e., other fitness facilities in your surrounding area) Organization and Management, including the management software (like Mindbody) you want to use at your facility, your business ...
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 ...
How you structure compensation and benefits will impact your ability to attract and retain a strong team and can make the difference on whether or not your business is profitable in the short and long term. So give these points and good thought before cementing anything in your plan. 8. Financial Projections.
Gym Business Plan Templates. BusinessPlanTemplate.com This site offers a free outline of all the core content you'll need to include in a fitness studio business plan. You can purchase a step-by-step business plan builder, including access to customer service and expert advise for $97.
The Mountain Brook Fitness Center is a thriving business-person's club but is also one of the only family-focused clubs in the Monroe area. Fifty percent of our members are under the age of 45 and have young children. Currently, the center has 900 members. A center membership is $800 a year. The Mountain Brook Fitness Center wants to add an ...
Cash at End of Period. $143,288. $260,589. $455,890. Download This Plan. Explore a real-world physical fitness gym business plan example and download a free template with this information to start writing your own business plan.
Develop a financial plan, incorporating current & future projections, supported by research and detailed breakdowns of monthly and annual earnings over a five-year period. There's no need to start with a blank page; download a ready-to-go Microsoft Word Fitness Business Plan Template and get started! Writing a business plan for your fitness ...
4. Write Your Executive Summary. Most gym and fitness center business plan examples online have an executive summary. It's the first section of a business plan, and it's an overview of the business. So, make sure to write one for your gym business plan. It may be the first section, but it's best to write it last.
These local independent businesses offer special discounts to NIAC members. Use them! PERSONAL TRAINING…. is one of the things we do best. Each of our trainers will be able to help you identify your individual goals. Our trainers come with vast experience in weight-loss, athletic development, strength development, body building and physique ...
Smena fitness center in the za bor architects portfolio is the third sports-related project and the first realize object of this type. A private client who turned to the bureau with this project ...
Snap Fitness Moscow, located in Moscow (83843), is the area's 24/7 gym. Our facility is equipped with cardio and strength machines, as well as functional training equipment. ... Snap Fitness Moscow, located in Moscow (83843), is the area's 24/7 gym. ... Rate from 1 to 5 the business. 1 = Poor 5 = Excellent. Security question: What is the sum of ...
Fitness-club: one-on-one training,aerobics, sports store and so on. Address: Chistoprudny blvd. 12, bld. 1 | Phone: +7 (495) 924-4315. Gold's Gym invites you to join Russia's finest health and fitness club. Offering over 5,000 square meters of the world's best fitness equipment, staff, services, and programs, Gold's Gym is great for everybody.