The Viability of Online Personal Training : Business Plan
Marshall, James B.
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In 2018, the personal training industry was worth $9 billion dollars having grown 1% between 2014 - 2018. There are roughly 600,000 personal trainers who work at commercial gyms (Industry Market Research, Reports, and Statistics). Recently, gyms and in-person trainers have found it difficult to compete with modern technology, constituting virtual training options. Inflexibility, cost, and inconsistent delivery have made personal trainers a difficult sell to many consumers seeking fitness programs (Rucker). It is my intention to launch an online personal training business to help address the barriers that in-person personal training experiences. In-person personal training is a luxury to most. By creating an online personal training business, we are able to reduce the challenges by offering a more flexible, lower cost product to access the service. Evidence suggests that online training and coaching is an emerging sector and a viable option in the marketplace (Rucker). I have developed a strong marketing plan to support the launch and advancement of this business. My intention is to pursue online personal training and secure 20-30 clients to achieve $10,000 a month in gross sales or $120,000 my first year. The marketing plan is a carefully developed combination of digital tools and tactics that will work in harmony to both promote and drive my services to the right target market. Based on two research studies, qualitative and quantitative conducted to 15 participants and 60 participants, respectively, I have identified my audience as 22-40 year old female and male consumers. My research has demonstrated that active females should be part of the puzzle, even though I want to specialize in male training. I hypothesize that by embracing female consumers, I will attract their partners, including male partners. My research has indicated that females hold 57% of all memberships at fitness facilities and it is anticipated that this statistic will continue to grow exponentially, which is in line with my quantitative analysis results (Mullen & Whaley, 2010). I believe that my drive, skills, and experiences, in collaboration with my passion for strength training, are winning combinations to launch this business model. While I still have some work to do, I plan to launch my online platform by or before January 1, 2020.