Starting a fitness business is a great way to combine your passion for fitness with your entrepreneurial spirit. The fitness industry has seen significant growth in recent years. The health and fitness sector contributes up to $91.22 billion per year to the global gross domestic product. And that’s just gyms and fitness centers. In the United States alone the industry is worth $35 billion.
Becoming a fitness entrepreneur means running any business that revolves around the fitness industry. In this article, we’ll take a look at a few of the best fitness businesses you should consider starting if you want to become a fitness entrepreneur.
Personal Training Business
One of the most popular types of fitness entrepreneurial ventures to start is a personal training business. As a personal trainer, you’ll work with clients one-on-one to create customized workout plans that help them reach their fitness goals. This type of business can be operated out of a gym or fitness center. Some clients may even request in-home training sessions.
Employment of fitness trainers and instructors is projected to grow 19 percent from 2021 to 2031. Becoming a personal trainer has become a popular fitness business to pursue. And no wonder. There are several benefits to doing so.
One of the benefits of starting a personal training business is that it is easy and you can work with clients of all ages and fitness levels. You can also choose the type of clients you want to take on. For example, you can specialize in helping athletes improve performance. Or, you can help those people just looking to lose a little weight and get into shape.
One of the challenges of starting a personal training business is that you’ll need to build a client base. This can take time, especially if you’re just starting out. You’ll need to market your services, network with potential clients, and provide high-quality training sessions to keep your clients coming back.
Since the competition for personal training is fairly high, you must set clear goals for this type of fitness business. Otherwise, you may find yourself struggling to stand out in the industry.
Fitness Brand Apparel Entrepreneur
If passionate about fitness and fashion, then starting your own fitness brand apparel company is something to consider.
When starting this type of fitness business, you’ll need to think like a fashion entrepreneur as well as a fitness entrepreneur. This means understanding what it takes to run a clothing business. Things like developing a brand name, logo, and design aesthetic that aligns with the values and interests of the target audience, just to name a few.
After establishing the brand identity, it is important to develop a product line that meets the needs and preferences of the target audience. You’ll need to choose the fabrics, colors, and styles that appeal to your potential customers. While many clothing lines prioritize looks, you’ll also need to make sure your brand is functional and comfortable enough for physical activity.
Once the business is up and running, it is important to continuously monitor and adjust the product line, marketing strategies, and brand identity based on customer feedback and market trends.
Fitness influencers are everywhere. Platforms like YouTube, Instagram, and TikTok have made it possible for just about anyone to gain fame and notoriety but just staying in shape and being knowledgeable about fitness. Fitness influencing is a large part of the influencer market. Which is a $15 billion industry.
However, becoming a fitness influencer is more than posting work pictures and videos. In this competitive landscape, you’ll need to put extra effort in if you want to stand out. Besides making sure your social media content is visually appealing, you should also create helpful posts to drive your engagement and following.
Collaborate with other fitness influencers to expand your network, gain exposure to new audiences, and create new opportunities for your brand. Running contests and giveaways can also attract new followers. Attend fitness industry events, conferences, and workshops to network with other professionals, learn about the latest trends and research, and build your expertise.
As an influencer, the easiest way to make money is through sponsored posts on platforms like Instagram. But you can also earn money from video views on YouTube and TikTok.
Gym/Fitness Center Owner
If you’re looking for a larger-scale fitness business to start, and have the capital, opening a gym or fitness center might be the right choice. Operating a gym comes with a lot of responsibility. However, running a successful gym can be rewarding for any fitness entrepreneur.
One of the benefits of starting a gym or fitness center is that you can cater to a wide range of interests and fitness levels. You can provide a comprehensive fitness experience for your clients, which can help you build a loyal following.
One of the challenges of starting a gym or fitness center is that it can be expensive. A modest studio gym could cost $65,000, while a mid-size gym could cost $115,000. If you want to take advantage of an already established gym brand you can choose to become a franchisee.
Here are some of the total investment costs for opening a fitness center:
- Jazzercise Inc-$2,405 to $3,200
- Anytime Fitness-$58,870 to $521,437
- Planet Fitness-$1 million to $4.1 million
- Orangetheory Fitness-$563,529 to $999,121
You’ll need to purchase or lease a large space, invest in equipment and staff, and potentially market your services to a wide audience. However, if you’re able to create a successful gym or fitness center, the potential for growth and profitability is high.
Online Fitness Trainer
An online fitness business is a type of business whose popularity skyrocketed during the 2020 pandemic. Many people looking to stay in shape began looking for other options when gyms and fitness centers were temporarily shut down. Many personal trainers and fitness experts took this opportunity to make their services available online.
Now, there is no need for a pandemic as potential fitness entrepreneurs can launch their fitness business 100% online from day 1. As an online fitness entrepreneur, you’ll need to do the same work as if you were starting an offline fitness business. However, you’ll also need to do a little more to win in this arena.
You’ll have to choose whether you want to conduct one-on-one classes, group live sessions, or prerecorded classes. Of course, you have the option to provide all three. You will also need to have a high-quality camera. Since your interactions with clients will be entirely online, you need to make sure your tech makes you look your best.
This also includes having space to perform workouts, great lighting (natural or artificial), and the right equipment. You will also need to utilize data tracking and client relationship management software.
An online fitness business is a fairly easy online business to run. It allows you plenty of freedom and convenience. It also gives your clients the same benefits.
Fitness Equipment Sales
Fitness entrepreneurs who want to remain behind the scenes but understand the importance of having the right equipment to stay in shape may want to start a fitness equipment sales business. This type of business is one where you can sell fitness equipment to individuals or gyms. You’ll need to have knowledge of fitness equipment to run this type of business.
There are several ways to do this. One of the easiest is to buy equipment such as weights, resistance bands, or sports equipment at wholesale prices. Then, start an e-commerce store and place your equipment online. You can also sell those items at retail prices on Amazon.
Group Fitness Leader
A group fitness business is similar to a personal trainer in principle. However, instead of training one individual, you would be leading a group of people in a group workout. Group fitness businesses can include everything from yoga and Pilates classes to high-intensity interval training (HIIT) and dance classes.
A key benefit of starting a group fitness business is that you can reach a large number of clients at once. This can help you build a strong community of like-minded individuals who are all working towards their fitness goals. It will also save you time and possibly free up your schedule.
In order to perform group fitness classes, however, you may need to find a facility to conduct your classes. Many group fitness leaders can hold classes in places like public parks. However, those leaders are at the mercy of the weather conditions. This means that if you live in an area like Seattle where there is constant rain and the winters are harsh, you wouldn’t be able to hold as many classes throughout the year.
Succeeding as a fitness entrepreneur is not easy but it is rewarding. There is something satisfying about having a business you love and helping others succeed with their fitness goals. Take the time to choose which business fitness your skillset and resources. Then, take the steps to make your fitness business dreams a reality.