PERSONAL TRAINING BUSINESS PLAN GUIDE
Are you truly ready to start a private training company?
The global economy is not going smoothly in recent times. As such, many entrepreneurs begin to think of starting a training company, where they will train out professionals thereby creating their own business.
Are you among those solution seeking entrepreneurs that want to start a corporate training company of your own?
I wouldn’t let you answer that, because landing on this page shows that you desire to start your own training company.
And you know what? I give you kudos, I love to see where thirsty solution seeking entrepreneurs tries to come out with solutions to the problems faced by the masses with courage and determination. So you’ve done a great job already by thinking of this.
And one good thing about starting a training company business is that you don’t have to pay any fee to conduct your trainings, instead your client pays for all expenses.
But also starting a training company is not a bed of roses, the journey is not always easy. It is challenging and painstaking to start a training company and many who venture to start a training company often ignore the most important aspect of starting a training company and as a result they pay greatly for the omissions.
But good news for you. As long as you have arrived on this article, I assure you that you’ll find tips on how to start your own training company, reduce your risk of failure and ensure your success rate.
Tips for a Successful Training Company
- Get Your Credentials
Before you start a training company, there is one thing you need to prioritize. And that is getting the right credentials
Why is this necessary? When you get credentials, it shows the knowledge or validation that proves you know more about what you are training than others.
- Capitalize Your Training Company
Hey! I hope you didn’t forget the fact that you need capital to start your training company. No business comes up without a capital, because this is like rule number one. Just keep a proper amount of cash to make it through the hurdle of good flow of cash management.
- Reduce Non-Binding Partnerships
An entrepreneur life can sometimes be a lonely existence; this could especially be so if he/she have not attracted any customer or even hire an employee yet. So, it just natural for this ones to seek relationship with others who are also in same field of services, this will help them feel that they are not in the business alone.
But note this, just as this relationship could be great and nice, there can become distraction for you if they are not binding partnership. So when making relationships, it should be based on growing your business.
- Speak Same Language with Your Customers
There is a common trend amongst those who start a training company. Do you know what is that? Alright let me tell you. The trend is that they enter the training business speaking with an industry based language, maybe to impress their customers.
But this is wrong. You should remember that your clients do not fully understand the field well, so if you wish to reach them, you need to speak in the language your customers understand.
- Network with The Right People
You’ll hear people tell or advice that you should market your company to as many people as possible. Well, let me say this, in as much as they are partly right, I don’t fully agree. You need to network with only the RIGHT people who will grow your business.
- Publish More
Now, you need clients for your training company right? Good, you need to have in mind that your potential clients of your training products do make researches using the internet search engines to look for things they need.
Make yourself available and let them know that you’re an expert in the field by publishing articles of anything that document your expertise in the field.
- Express Your Value
When you start creating products, you need to state clearly the value of your product to a client. When this is done, a client will know why you are special and eventually buys from you.
- Specify Your Offerings and Products
This is where most training startups fail before even starting. Since its a new company, they often promise the customers that they can do anything.
This is a “Jack of all trade, master of none” mentality. It’s wrong! Be specific, clients buy specific services. So model your product or service and graphically show it.
- Commitment, Commitment, Commitment
As an aspiring successful training entrepreneur, your success begins with yourself. Why do I say this?
When you are fully committed to your training business, I assure you that you’ll grow your training company into a Successful one in no time. Congrats to you in advance.
Starting a Corporate Training Company Step by Step
Are you thinking of starting a corporate training business? Do you desire to teach people about the skills you know?
Are there individuals whom you think will love to learn the skills? If your answer to those three questions is Yes, then you should consider to a start a corporate training business with the skills you have and see people running to learn from you.
Corporate training is a useful tool for business as most companies need corporate training programs to ensure that their employees are up to date with the latest features and resources to move the companies forward.
You may start thinking how possible it is to start a corporate training business and actually get people running to you to learn from your corporate programs when there are lots and lots of companies that deal on corporate training.
Yes, it is very possible. Why do I say so? This should be noted about corporate training business companies, as a company, they will charge higher in training. This they do to cover their expenses too, expenses like tax payments, utility bills etc. So for this reasons, they charge high, and for that fact that they do charge higher, not all who interested on the skills will finally learn them.
Now, how is this beneficial to you as a prospective corporate business trainer? Do you know You can start your own corporate training business from the comfort of your home? Yes! With just your computer and a smartphone with an internet connection, you can train hundreds, and even thousands of individual.
And since this is done from the comfort of your home, you don’t have much bills to care for. And for this reason, you can capitalize on the high price of those companies for corporate training and charge yours cheaper. By so doing, you stand a chance of getting people come to you to learn from you.
But one thing to note is that before you start your own corporate training business, you must have master yourself with the skill(s) you wish to train people on.
So, after knowing about the above, you may start thinking what and what are needed to run your own corporate training business successfully.
For that reason, I’ll be showing you some steps to take and kick-start your corporate training business.
- Choose an Area of Concentration
This is not the time to start training people on every skill. No! You don’t have to do that. Why? because when you train on every skill, people will not consider your business a serious one.
Remember this popular line, “Jack of all trades, master of none”. I believe you will not want people to view your business that way, so you have to be specific with the type of skill you will be training people on so that people can easily identify your business.
- Experience and Certifications
After you have chosen an area of concentration for your corporate training business, what you should do next is to acquire more experience in the desired skill you wish to train on. Not just experience, but if possible also get a certification that you are a professional on the known skill.
Why is this important? It is important because nobody wants to be taught by someone who does not have a level of professionalism in the skill he wants to teach others. So, by gaining experience and Certifications, you will attract more clients.
- Draft Out a Corporate Training Business Plan
Is there anyone who started something without first planning about it? There is no successful business without a plan, so you should draft out your plan – your corporate training business plan. This plan will help keep track of your business, because it will include: How you will get clients, how are you going to sell your business modules, and also, what you hope for the business.
- Business Registration
This is another area one need to put into consideration. Considering the fact that your business is a corporate training business and at such, you will be dealing with corporate clients, something need to be done. What is that?
Registration of your business is very crucial, and when choosing a business name for registration, the name should depict what the business is all about. When clients see and noticed that the business is a registered one, it boosts their interest to come and learn from you.
Yes, like I said earlier, you can do this type of business from the comfort of your home. So why is it necessary to buy or rent an office space when you can do your business at home. Now let me make this very clear to you. There are some clients who will not like to do business with you, when they know that you work from home.
So, you can reduce or avoid that by getting a space for your business. But what if you don’t have enough cash to buy or rent an office space? You can help yourself and join up and share an office space with someone.
- Marketing and Promoting your Business
After going through all of that, another step is marketing and promoting your corporate training business.
There are many ways to market this business, you will have to know who you will be training, and how you can reach them. You can also create a webpage or a website to sell your training programs.
So with the above, you can now start your own corporate training business with ease, as I have covered it all.
ONLINE PERSONAL TRAINING BUSINESS PLAN EXAMPLE
Here is a sample business plan for starting a training business.
Business Name: Christopher Lawson Personal Training Centre
- Executive Summary
- Business Description
- Our Products and Services
- Vision Statement
- Mission Statement
- Business Structure
- Market Analysis
- Sales and Marketing Strategy
- Financial Plan
- Competitive Advantage
Personal training is a business that has been in existence right from the early days of human civilization. This is a business that thrives really well considering the fact that anybody can afford it and personal training can be done for various aspects of life.
The basic importance of personal training is to help people grow or develop one skill or the other whether technical or soft to increase their productivity. The business is a very broad one because there are so many skills people might be interested in acquiring, some of such skills are: writing skills, financial management skills, business etiquettes, dance steps, public speaking skills, and so on.
Christopher Lawson Personal Training Centre is a registered and licensed business for that is owned Christopher Lawson. The Centre will be located in Los Angeles, California and we are aiming to become the best personal training center in Los Angeles and in achieving this, a facility has been secured at a very good location.
OUR PRODUCTS AND SERVICES
Christopher Lawson Personal Training Centre will operate a well licensed business that is after satisfying its clients by offering varieties of services which are:
- Leadership skills
- Writing skills
- Management skills
- Financial management skills
- Business etiquettes
- Customer service skills
- Public speaking skills
- Interpersonal skills
- Online coaching services
The vision of Christopher Lawson Personal Training Centre is to establish a highly effective and competitive business that will be the number one stop and choice for everyone in Los Angeles and California at large.
Our mission is to provide very effective and highly professional personal training to a wide range of customers. Our main goal is to become the leading personal training business in the industry within the first four years of operation.
In ensuring the success and growth of the business, we have decided to hire competent, honest, and hardworking people to occupy the following positions:
- Chief Executive Officer
- Centre Administrator
- Personal trainers for different skills
- Customer Service Officer
We all know that the personal training industry is not a new industry, it has been in existence for a while now and for us to be successful and be ahead of competitors in the industry, we need to acquire as many certifications as we can and also testimonies from our students who had a very huge experience.
The influence of technology is another major trend in the industry, technology helps generate more income. We can also train students who are kilometers away from us with the help of technology using tools like Skype, Webcast, YouTube and so on.
Our Target Market
Christopher Lawson Personal Training Centre will be situated at Los Angeles, California offering services to the residents and even those who are far away with the help of technology. The business will be focusing on training of soft skills that will help improve capability, productivity, and efficiency. Some of the people that we will be targeting for the personal training are:
- Public figures/celebrities
- Business People
- Corporate Executives
- Government Officials
- College Students
- Sports Men and Women
SALES AND MARKETING STRATEGY
In ensuring that we get to the top of the industry and succeed, we have decided to adopt some techniques which will also help in ensuring profitable sales. These techniques are:
- Giving discounts to our first set of customers and regular customers.
- Having a one on one relationship with our customers with the aid of CRM software.
- Offering quality and reliable services to our customers.
- Sponsoring relevant programs in the immediate community where the business is located.
- Advertising the business on both print, electronic and online media.
- Having an official website where regular advertisement is done.
The business has gotten 65% of the startup capital which is $150,000 and we are looking to get the remaining 35% from personal savings and from banks as loan.
We are well aware of the high level of competition in the industry and we have decided to soar high above the competition by offering constant quality service that brings about remarkable improvement in the customers and also meet all their expectations.
Also, we have decided to hire people who are professionals, experts, and qualified personal trainers who are able to build soft skills within few days. This will also serve as a competitive advantage for us.
This is a personal trainer business plan sample that can help and serve as a guide in writing your own business plan. This is a personal training business owned by Christopher Lawson.