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Personal training: business plan, sales and marketing, good practice - Assignment Example

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As discussed in the text, there are six unique aspects to managing a business plan: executive summary, the business, sales and marketing, management/staff development, operations, financial forecasts and cash flow. For purposes of this brief analysis of a new personal trainer…
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Personal training: business plan, sales and marketing, good practice
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Download file to see previous pages Each of these options offers its own strengths and weaknesses. For instance, if a personal trainer decided to open his/her own studio, the benefits of this would be many; however, the drawback is a high entry cost to developing the business. Accordingly, working for a set-rate or an hourly percentage within a gym may also provide the visibility and legitimacy that a new-start up so desperately craves without the high entry costs of opening one’s own studio.
Operating as a mobile personal trainer is likely the cheapest start-up of all. As a mobile personal trainer need not rent space, or pay a percentage of his personal wages to the gym, he/she is free to book clients in different locations in different time slots and maximize profits in this way. Yet, as expected, there are at least two definite draw backs to this business plan. The first is the fact that the personal trainer must consider the amount of money he/she will spend on transportation to and from on-call locations. Secondly, the personal trainer will be responsible for covering his/her own membership fees at the respective work out facilities he/she will be frequenting (Jeffries, 2010). Rather than working in a centralized location and only being responsible for one gym fee/membership, the on-call personal trainer may be responsible for multiple fees and memberships.
For purposes of this analysis, the best option for a startup personal trainer would be to work in a gym as a self employed-hourly percentage. The reason for this type of business startup does not all come down to the bottom line. Although it may be cheaper for a personal trainer to act as a mobile personal trainer in the initial stages, he/she will not be able to build a meaningful and centrally located client list by operating in such a manner. Instead, at such a time as the mobile personal trainer has the ...Download file to see next pagesRead More
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