Reply To: 2014 FMI Gary Warren

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#5366
Kate Stewart
Member

Kate Stewart Fitness

The part of the business plan I struggle with the most is the target market. Initially, I wanted to help everyone, but after attending FMI I realized the importance of finding your target market. So far this is what I have:
Helping women aged 25-40. Those who want to feel comfortable in a bikini on the beach, or in shorts in the summer. Those who want to lose weight but don’t know where to start. They probably have poor nutrition habits and they aren’t sure what to do at the gym. I will offer strength based fitness programs as well as nutritional coaching to help people reach their goals.
Strengths:
•    I have a background in Graphic Design, so I can design my own logo, e-book, graphics, etc. This will save money.
•    I have a large local network (military members and spouses, connections through my parents, etc.)
•    I enjoy public speaking so I would like to arrange to maybe do some talks or seminars to local companies who want to promote health and wellness within the workplace.
•    I have done bikini competitions, so I know/understand the unhealthy thoughts and relationships with food that can come from those, as well as the distorted body image some people can have when they get used to seeing themselves so lean

Weaknesses:
•    I don’t actually have my business set up yet. I need to register a domain name and make a “coming soon” page while I work on a website.
•    I need to have everything in place to start taking clients by the time my military contract ends in July, and ideally even before that
•    I don’t have a “transformation story”. Even at what I would consider my heaviest, I was probably smaller than average. I want to help people who are overweight, so I need to ensure that they will trust me and although I have never been in their shoes, I will show understanding and compassion

Opportunities:
•    I want to set up a page with affiliate links with my favorite products (Ascenta Health, etc)
•    Plans can include Isagenix products and fitness/nutritional coaching.
•    Halifax is fairly small and I plan to contact local newspapers/magazines to see if I could write fitness articles. Publicity = “As seen in…”

Threats:
•    Most of the trainers in Halifax are focused on “contest prep”, this is NOT my market, so hopefully I will have a bit of an advantage
•    I do not currently have any clients. I need to figure out prices, what kind of plans I will be offering (how many weeks/months, etc.)
•    People in Halifax can be very cheap.  I need to work on expanding my online presence to other cities/countries so I can reach more potential clients
•    Although I can speak in front of a huge audience no problem, sometimes I have trouble connecting one-on-one. I need to work on those skills so I can communicate effectively with my clients.