Do you need help starting a boxing gym? If YES, here is a sample boxing gym club business plan template.
As an international sport, boxing is very popular across the world. A lot of businesses have sprung up thanks to boxing.
If you are interested in establishing a boxing gym, you may find this article useful. We provide you with a boxing gym business plan sample to help you get your business on the right footing.
Although profitable, boxing club’s business comes with a price, which is in the form of high cost required for
take-off. This is a capital intensive business but as long as you have the proper guidance and consult the right places, you are sure to be successful in your bid to opening a thriving boxing club business.
Being an age-long sport, it has metamorphosed into a highly prized and thriving sport, with representations in the Olympics and Commonwealth Sports, and has its several events and title fights where big prizes are won worldwide.
Here is a sample business plan for starting a boxing gym business.
There are crucial questions to be asked by any investor before setting up any boxing club business. These questions have to be satisfactorily answered before such a business venture is entered into.
Some of the questions that need to be asked include the following; are there enough potential boxers to join your club? How much does it cost to set up a boxing club business? Does your area have available clubs where you can seek knowledge and advice from? How do you get the capable hands knowledgeable enough to run this business? etc.
BOXING GYM BUSINESS PLAN SAMPLE TEMPLATE
A plan is the life-line of any business venture. For a boxing club business which is capital intensive, a business plan has to be in place. This boxing gym business plan should contain realizable projections of the business, the targets or goals set for the business and also include the payroll and expected profitability.
Also, the equipment needed and the cost of business setup should all be factored into this document.
- Club Affiliation
Affiliation is critical to boxing club business. To achieve any meaningful growth, this relationship must be in place.
This is what adds more credibility to boxing clubs. This affiliation is solely that which consists only of National Governing Bodies and boxing clubs.
- Why are National Boxing Governing Bodies so critical to the success of Boxing Club Businesses?
Simple! It’s because they take responsibilities for running and managing, and also the development of services for this sport.
National Boxing Governing bodies also organise national competitions and also choose teams for international boxing tournaments. Their influence also covers guidance and support for local clubs.
With these functions of National Governing Bodies, it clearly shows why boxing club businesses need this alliance to move forward, as these boxing clubs will be able to enter competitions, coaches will get training and qualifications and also, they will be in the bigger picture of boxing affairs.
In order for boxing club businesses to qualify for affiliations, they are charged a fee. This benefit qualifies the clubs for support towards development and for funding applications especially if the club and members are serious.
- Boxing Club Constitution
Boxing club businesses require a constitution which governs the activities of boxing clubs such as spelling out clearly the functions of the club and also, the guidelines for membership, meetings and committees. The constitution is also a criterion to qualify for several aids and grants. This constitution should not exclude certain people based on discriminatory grounds.
Promotions and Public Relations
In order to grow its number of members, new boxing club businesses and even the old ones can follow the simple processes below;
1. Raising Awareness
This is so important to the growth of new members for boxing club businesses. Quite of large number of people with interests in this sport may not know about the availability of a boxing club within their neighborhood.
The creation of awareness can bridge this gap. And this can be carried out through the use of social media such as creation Facebook pages, advert in coffee shops and commuter train stations among several options.
2. The Use of Current Members
A club’s current members can be a critical tool in spreading the word. They can be used in spreading the word to their associates, family members, and friends through word of mouth. An incentive can be given to them for this.
3. Spend Money to Advertise
The importance of advertisement to boxing club business cannot be over-emphasized. Money should be spent to advertise in local newspapers, at railway stations and at local radio stations. This always has a positive effect on business as it will most likely affect the club’s member’s base positively.
To open a functional boxing club business, equipment need to be purchased. You should make adequate inquiries about funding for the purchase of equipment needed for the boxing club. It will do well to have planned for this, especially in making sure you have the required net-worth to qualify.
This is because most funding sources would only provide financing when you have the ability to pay up.
Management and Administration
The proper management and administration of any boxing club business is vital to the survival of such a business. The day to day running of the club is efficiently carried out and strong ties are formed with local authorities. For a boxing club business to run smoothly, it needs the following;
The Club Committee
This committee is elected to run the affairs of the club, with individuals taking on different roles. The committee’s main roles are usually the provision of excellent services to members, and as the club grows, there might be sub committees charged with taking responsibilities for the efficient running of other aspects of the club.
Usually, the club committee is made of three elected officials who include the chairperson, the secretary and the treasurer. Other positions may arise based on need.
Volunteers are indispensable to boxing club business success as they form the life-line the club relies on. Although difficult to train, but once trained they form the bedrock on which boxing clubs rest.
Their real worth is most evident especially when people’s time becomes more valuable to them. They step in to help whenever there is shortage in manpower. Most of the work carried out at the background is done by them.
In order to get this critical help, you first of all need to identify why you need volunteers, when you need them and where you need them. Once these conditions are met, you are most likely to find people offering their services. It will do well to put in place a reward system to reward them for services offered.
Boxing club business as can be evident requires several criteria for its smooth take off and eventual growth. To achieve profitability, discipline and hard work is essential to its realization and eventual success. It is a business that has the potential to reward you if you are willing to put in the work required for sustained profitability and growth.
BOXING GYM BUSINESS PLAN EXAMPLE
This will include some of the most important parts any good business plan should have. Let’s jump into the details;
Gary Bolton Gyms Inc. is a boxing gym to be located in downtown Manhattan, New York. It is a world class facility that will contribute to the development of boxing talents across the United State. Our sights are set on grooming talents that will compete at major global sporting events. These ambassadors will help project the name of our business in positive light in years to come.
Services and Products
At Gary Bolton Gyms Inc, we seek to provide a standard facility for experienced boxers to train in as well as well as provide training to amateur boxers. Our gym will serve as a melting pot for boxers at different levels of experience as well as from diverse backgrounds. These services will include personalized boxing classes, group boxing classes, sale of boxing accessories and general gym facilities.
At Gary Bolton Gyms Inc. we seek to serve our immediate community. This is through positive engagement of youths to create a passion for the sport. While raising skilled boxers for the state and country, we will succeed in our overall mission of reducing gang violence through positive engagement.
We have a vision of building a world class gym facility that will impact the community and state through the promotion of the sport. To achieve this, we will occasionally invite boxing veterans to lead training sessions and to provide inspirational talks for free to members of the community.
As a business, we are partaking in this industry to not only make a profit but to change lives. In order to know if we are on track, we have conducted a SWOT analysis as a way of testing the waters. Certified professionals with years of experience in the boxing industry were contacted to conduct this test. Their findings reveal the following;
We have taken great care in selecting qualified hands with tremendous experience in the industry. These give us an edge as clients are provided the best training that can be found anywhere. Our central location is an asset to us. Downtown Manhattan is known to be densely populated. This increases our potential for growth substantially.
As a new entrant into this area of business, we do not match the more established boxing gyms in financing as well as client base. Also, these boxing gym businesses have established contacts and networks. This is an obvious weakness we have.
One of the most important assets we have is our location. The young population is energetic and willing to try out new stuff. This presents us with a great opportunity to gradually build a thriving boxing gym that will eventually become a major player.
Some of the threats we face is a gradual or sudden decline in disposable income. This will adversely affect our business. This adverse condition and more may stem from the unfavorable policies. An economic recession is yet another threat we face.
In recent years, there has been a increase in the number of people signing up for membership of boxing gyms. These set of clients are either interested in keeping fit or learning the sport. A greater number of signees constitute the young. There is also a preference for boxing gyms within the neighborhood. This is in addition to those which offer cheaper membership fees.
Boxing gym owners have gone ahead to enter into partnerships with schools and boxing clubs to make use of their facilities for a fee. This is a way of creating more income streams for their businesses.
Having a competitive advantage is very important in the boxing gym business. At Gary Bolton Gyms Inc. our location is our immediate selling point. This allows us to reach more people as the area is densely populated. Also, our workforce is highly skilled. These are people with years of experience in the boxing industry. They bring their expertise into the business, thereby helping clients to attain mastery within reasonable time.
Sources of Revenue
We plan on providing a variety of boxing and boxing related services as well as gym for clients who only want to keep fit. These services will include personalized boxing training specially designed for clients who want private lessons.
There are also sales of boxing accessories and paraphernalia, group boxing classes as well as martial arts training.
Within two years of commencing business, we will seek for partnership with schools and boxing clubs. This agreement will allow them to use our facilities for fee.
We have conducted a feasibility study of the market and come up with a forecast of sales within a 3 year period. This has revealed tremendous growth in revenue. A summary of this finding is shown below;
- First Financial Year $210,000.00
- Second Financial Year $380,000.00
- Third Financial Year $550,500.00
We seek to adopt a competitive pricing model for our business. This is in a bid to compete favorably with other boxing gyms. We will do this in a way that will do not sell our business short as this has its consequences. Instead, we will attach incentives to our every of our services. This is a measure that will attract more clients as such services are not common.
This boxing gym business plan sample has provided an insight into some of the most essential contents all such business plans should contain. It is only a sample and should be used as such. It is important to never rush your plan. It should be given all the diligence it deserves as it can either lead to the growth of your business or to its decline.