Venture Concept #2

*If you've read this before, to save you time, I didn't change anything*

1. Opportunity:

The opportunity I’ve chosen to pursue with my business plan is providing the service of fitness coaching.  The need is fitness coaching.  The niche I’m targeting is those who need a coach because they want to compete.  These individuals have an extremely specific goal, with a time-frame, the dedication and financial means to pursue it.  This need can also pertain to individuals who struggle reaching their fitness goals on their own and simply don’t know where to start, or need the motivation and accountability that a coaching service would provide them.  All of these people have a few things in common- they need help achieving their fitness goals, they have a specific goal, they have the determination and financial means required to achieve this goal. 

This market is not defined geographically- as this could pertain to people all over the world.  My market may be defined demographically, in that I presume most of my clients will be female.  Typically in the fitness industry males work with male coaches and females work with female coaches – not always, and I would coach males as well, but for the MOST part, my market will be female.

Since there will be an application process to work with me as a coach, and individuals must fit certain criteria, and I plan to target a specific niche, my opportunity may not be considered “big.” At least in terms of number of clients who will receive this service.  Quality of service provided also matters so I can’t take tons of clients at once.  So because of this selective and limited process, my opportunity is not “big.”

Innovation:

My innovation is the service of fitness coaching.  This service already exists so it is incrementally innovative.  When a client applies and is selected for fitness coaching with me, they will receive specifically tailored nutrition and training regimen from me.  They will receive specific macronutrient targets to hit daily, and prescribed resistance training and cardio workouts to suit their goals.  They will have weekly communication with me via email where they will send me data (weight, macros, training) from the week, along with progress photos and a video clip discussing how they felt during the week.  I will respond to this with any needed adjustments and advice for the following week.  This exchange will continue for the agreed period in which they paid for coaching.

This service will be pretty costly. It will cost $100 per week for the agreed upon duration, so 24 weeks = $2400.

Because this service is so limited, specific, and expensive, I will also sell non-customized workout plans on my website for a one-time purchase of $50-$100.  I also plan to sell Ebooks, such as “Tracking Macros for Beginners” and “How to grow your Glutes: A scientific approach” as educational material.

Venture Concept:

Because of my knowledge, degree, certifications, and experience I will successfully get people to their fitness goals.  When I do that, they will be pleased with their results and write testimonies that I can share on my website and social media accounts to prove my credibility to others.  This will create interest in me as a coach and my fitness coaching service.

I think people will switch to my service over other coaches’ services because well, there are some truly shitty coaches out there.  Lots of competition prep coaches prescribe overly restricted meal plans to competitors and have them doing hours of fasted cardio and other bullshit that isn’t scientifically proven effective.

With my scientific evidence based approach to diet and exercise, clients of mine will receive the best possible service with the least amount of suffering.  They will be educated as to why I implement the strategies I do and how they work.  I won’t blindly prescribe them hours of cardio and a diet of straight tilapia and asparagus.  This service will be innovative due to my scientific approach.

Price is important in my concept, as lots of people can’t afford coaches.  But then again, lots of people can.  And based on what I’ve heard from other coaches, if everyone says ‘yes’ to the price of your service you’re too cheap.  Also, when there is somewhat of a financial investment in one’s fitness goals, it serves as another means of motivation and accountability for the individual.  Sounds weird, but it’s true.  So I plan to have pretty high prices, that not everyone can afford, but is still reasonable and comparable to other coaches’ prices in the industry.

·      Most important resource- My experience, and the result I get my clients.  Competitors can’t copy that without my past experiences and knowledge.  The proof is in the pudding.

·      What’s next- When I build my brand large enough, I plan to sell merchandise.  Maybe some branded apparel, along with gym accessories- resistance bands, shaker cups etc.

·      What’s next for me- I love this question.  In five years I hope to have built my personal brand so large that I’m a well accredited and sought after coach with clients competing at the pro level. I also want to be a pro level competitor at that point in time, and be selling lots of Ebooks, and workout guides on my website educating and helping people reach their fitness goals. Further down the line when I’m ready to have a family and settle down a little, I want to own my own gym.  Building this brand will allow me the financial means to open a gym which is my end goal. 

2. I didn't really receive feedback to change anything in my business plan.  I received comments agreeing that my experience will be my most valuable resource and that my pricing makes sense.  They also agreed that selling other forms of cheaper options and merchandise is a good idea.

3.  I honestly haven't changed anything based on the feedback I've been given.  Im not saying this is a perfect business plan and it doesn't need to be edited... I just haven't found those things yet.  I'm sure along the way I will, and I'm ready and willing to make changes as they come!