Similarly, there are competitions that award “best entrepreneur” that usually require a business plan as part of the application process. His journey in fitness started with Taekwondo, a Korean martial art defined by its fast and high kicking style.
During his time as an instructor at a club based out of the University of the West Of England (UWE), he found himself and other combat clubs facing the prospect of having to leave the building they were housed in due to its upcoming demolition.
An interviewer once asked the enigmatic world heavyweight champion, Mike Tyson, about what thought his opponent was planning for an upcoming fight.
His answer was as blunt as the force of one of his famous left hooks: “Everyone has a plan until they get punched in the face.” This attitude towards planning has become popular in the entrepreneur and start-up culture where “learning by doing” is favored to producing a meticulous business plan that may need to be tossed in the bin at the first sign of trouble or change. The trend towards throwing the business plan out the window seems to most popular in the tech world where companies don’t operate in the traditional sense.
Writing a gym business plan can be a useful exercise to help you clarify exactly what your ideas are for the gym.
It can help you understand the scope of the fitness business and figure out the resources(staffing, equipment, facilities) you need to get going.As a first-time fitness entrepreneur you will be full of different ideas for your gym that you will want to implement.By getting them down on paper through various rough drafts of plans, it will help evaluate what has the best chance of success.And this is backed up by research conducted across all industries.One of the most common reasons that any fitness entrepreneur would write a business plan would be to give investors a document that shows and comprehensive overview when asking for investment.These could be things like your ideal customers, your target market, the cost of a facility and equipment, the competitor’s in your area and any other market forces that could affect your business growth.Yo When it comes to the fitness industry, the last thing you should do is go in blind!Ibrahim’s journey to becoming a gym owner may have been slightly unorthodox.However, the foundation of his achievement is something that is replicated across the board by most successful fitness entrepreneurs.“What I believe is that once you write down what you are going to do, you know exactly how to go about it, rather than guessing along the way” explains Ibrahim.“You know how you are getting from A to B and on to C.”As the gym grew over time, Ibrahim found the plan extremely beneficial in bringing MYGYM to the next level.He explains: “One of the big milestones for was to try and own the building.