And when he discovered that other clubs from UWE were “I decided to approach the other clubs and see if they would be up for supporting a venue that would be there to cater to their hiring needs,” says Ibrahim.
They jumped on board with the idea and, alongside his business partner Luke Boulton-Major, they approached UWE with their concept.
At a fundamental level, it is a document that shows how exactly your business works, how it’s going to succeed and the steps you need to take to get there Think of the business plan as a roadmap that will guide you along the often bumpy road to fitness business success.
For gym owners entering the fitness industry for the first time, a well-researched business plan is the best way to keep your business on track, especially in the first year.
The business plan is one of the foundational documents of any business.
In this article, we want to give you an overview of the essential areas of creating a business plan that you need to know.
It put him and his Taekwondo club into a tailspin for which they were unprepared.
He decided to take it upon himself to find a new space in Bristol for the club but soon ran into difficulties, with the majority of leisure centers and gyms in the city unable to accommodate them.
To achieve this, we approached the Regional Growth Fund which had funding from the EU for any emerging start-up that had real plans.”Using the gym business plan they had created as part of their application process led them to receive the funding they needed to finally own their building, which Ibrahim says has had an extremely positive knock-on effect for the rest of the business.“We received £80,000 in funding, and we were able to use that to secure our property which we now own,” he says.
“And this has led to a reduction in the overall costs of running the business and has enormously increased our asset value.”An important point to note is the plan itself is an evolving document that grows with your business. From a strictly martial arts venue for hire, they have evolved into a fully-functioning gym that now has the addition of Olympic weightlifting and power-lifting facilities.