The below video will give you a good introduction into starting a fitness company. The video is by Ghost Fitness a UK based gym accessories company. The key to starting a fitness company is to create a popular brand from day 1. Utilise whatever platform you are most comfortable with. If this is social media/online then have super-active social profiles. Or if you’re more of an old school marketer you can utilise targeted direct mail. This is still one of the most popular and EFFECTIVE methods to reach new prospects and customers for start-ups.
The Golden Rules:
- Start Small – Order 1 item in a small amount of stock.
- Quality over Quantity – Always order a small amount to start with but focus on design and customer service. If you can create a positive brand, you will gain loyal followers that you can sell to multiple times and hence increase your effort to ROI number.
- Re-invest Everything – Reinvesting your sales into your business as early as possible will let you grow and take on more and more products whilst keeping stock levels steady. If you take a profit from your business too early you will prevent it from growing rapidly and will slow the growth of the business drastically.
- Online Marketing – Start by marketing correctly to an online market – For example utilising the delivery network of Amazon. Amazon acts as an extremely easy to use marketing platform, utilise this for your business and even consider FBA (Furfilled by Amazon).
- Local Direct Mail – Market to your local gyms and fitness centres. Anyone within 1 hour will prefer to do business with someone local than someone corporate (all other things equal.)
- AIMs / Plan: Have a rock solid marketing plan. Also ensure that you have reachable business goals. You can have these set up as business sales figures, aims on where to be in 3-6-12 months time and also remember your end game. If you want to eventually sell your business remember you need to create processes and assets that are easily understood and transferable.