Business Management for the Personal Fitness Trainer

BUSINESS MANAGEMENT FOR THE PERSONAL FITNESS TRAINER

PART 1: LAYING THE GROUNDWORK FOR SMALL BUSINESS

Chapter One: Introduction

Why Start a Business?

A Brief History of Small Business in the United States

What Is a Small Business?

The History of Personal Training

Chapter Two: Individuals and Small Business Start-Ups

Evaluating Your Entrepreneurial Orientation

Triggers for Starting a Business

Supports

Specialization

Personal Training as a Business

Chapter Three: Business Idea Generation and Initial Evaluation

Generating Business Ideas

Opportunity Identification

Choosing a Business

PART 2: DUE DILIGENCE ON THE BUSINESS IDEA

Chapter Four: Thinking Competitively

Redefining Your Industry

Defining Your Customers

Developing the Information for the External Analysis of Competitors

Developing a Competitive Map

Additional Issues for External Analysis

Competitive Advantage

Chapter Five: Business Mission and Strategy

Mission Statements

Sustainable Competitive Advantage

Step 1: Develop a List of Your Business’s Assets and Capabilities

Step 2: Split the List into Standard and Extraordinary

Assets

Step 3: Evaluate Competitiveness of Extraordinary Resources/Capabilities

Strategy

Chapter Six: Your Financial Fitness

Understanding Cash Flow

Developing Cash Flow Statements

Other Financial Tools

PART 3: ESTABLISHING THE BUSINESS

Chapter Seven: The Legalities of Your Personal Training Business

Forms of Business

Independent Contractor Status

Contracts

Leases

Regulations

The Standard of Care and Scope of Practice

Insurance

The Legal System and Fitness Facility and Personal Training Businesses

Chapter Eight: Establishing Operations

Location

Financing Considerations

Legitimacy

Quality

Technology

Equipment

Facility and Equipment Layout

User Space and Safety

Timing

Time Management

Chapter Nine: Financing and Accounting

Financial Foundation

Identification of Key Issues

Funding

Accounting

Taxes

PART 4: BUILDING THE BUSINESS

Chapter Ten: Human Resource Management

What Is Human Resources?

Hiring Employees

Retaining Employees

Probation and Firing

Family Business

Chapter Eleven: Marketing

Marketing Plan

Pricing

Promotion

Communication in Marketing

Retaining Clients

Sales Management

PART 5: OTHER ISSUES

Chapter Twelve: The Future of Your Fitness Business

Exit/Harvest

Steps in Selling a Business

Turnaround

Closing the Business

Chapter Thirteen: Franchising and Purchasing an Existing Business

Basics of Franchising

Buying a Franchise

Buying an Existing Business

Business Management for the Personal Fitness Trainer is a handbook for fitness professionals who have entertained the idea of going out on their own and starting their own business. It serves as an entrepreneurial tool to help fitness professionals expand their knowledge and to develop an understanding of the necessary elements in designing, starting, and managing a small business in the fitness industry. It walks through the fundamentals of small business and notes how these apply to the fitness industry. From choosing an idea for a business and developing a business plan to the legal, financial, and operational considerations of opening and running a business, this book is your guide to building a fitness business.