What Makes For a Good Health Club Business Plan?

What makes for a good health club business plan is the same things that make for any good business plan, which just a few differences. The most important thing to remember in any plan, though, is that having A plan is better than having NO plan at all, even if the plan is a little hazy, to start. This can always be corrected down the road. What’s a fact, though, is that businesses that start out with no written plan often go down to defeat within their first three years.

Business plans are like narrative stories. They’ll have a beginning, then a middle, and then an end which will lead to a new beginning. This goes on in what’s called a continuous planning cycle. And no health club plan succeeds well without having a mission, vision and goals, not only for the business but also for its customers.

Like any good plan, a health club’s will address every traditional business metric or benchmark which helps to gauge success. These can include funding sources and short-to-long term planning horizons. Keep in mind that the farther out a horizon is, the more flexible the intermediate steps need to be in getting to that far off destination.

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Top 8 Reasons You Need A Business Plan

There are, in reality, three primary reasons you need to have a business plan. Publishers, and a certain number of consumers, like to see Top 10 lists, so I arbitrarily chose Top 8 Reasons, just to be different.

Gleaned from years of working with a variety of business in putting market strategies and business plans together, here are three of the main benefits to you, as a business owner, for having a business plan:

1) Risk Prevention. What? If you’ve been in business for any length of time, and paid for advertising to promote your business, can you quantify how much revenue that advertising has generated for your business? Spending ad dollars to reach potential consumers is a risky gamble that can be prevented with a little research, identification of your market, and an effective marketing strategy. These are all elements of your business plan.

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Ten Important Things to Think About When Writing a Business Plan

1. Whether you are raising money, borrowing it, or financing a new business yourself, you should force yourself to put into writing a detailed business plan for what you have in mind. Without one, you most likely will be unsuccessful at obtaining money. With one you can guide yourself and your management team through the entire start-up process in an organized and successful manner. That being said, having a written business plan is a must.

2. If you are raising money for your business, you should first carefully think about who potentially will be providing the funds to start the business. For example, if you are hoping to borrow from a bank, your plan should clearly address the risks involved in the business with emphasis on the new business’s ability to pay back any loans obtained. If you are soliciting funds from investors or venture capitalists, your plan should emphasize the business’s growth potential and it’s subsequent return on invested capital. At every step of the way, you should be conscious of writing FOR and TO the targeted reader of your business plan.

3. Making a detailed outline of what you have in mind is probably the most important thing you can do before you actually start writing your plan. Take your time and give your outline a lot of thought. Organize your thoughts in simple phrases or sentences and number and letter each phrase or sentence. Break down big topics into smaller, detailed lists of specific things that must be researched or said. Composing a detailed outline can be tedious, but don’t slack off on this crucial part of the process. Writing from a carefully written outline will give your business plan a definite beginning, middle, and end.

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