Workshop: Raising Finance for your Fitness Business

raisingfinance

After meeting with 100s of fitness business entrepreneurs over the past few years one of the biggest roadblocks I see business owners meet is raising finance to build their business properly. This normally results in one of the below things:

1) Not getting the venture off the ground at all
2) Building failure into the business by cutting corners (Please note there is nothing wrong with bootstrapping but to command a premium price for your services you need to invest a certain amount of money)
3) Building their business on the wrong structure i.e surrendering too much equity to investors or business partners.
4) Selecting the wrong business model(s)

With these observations, I am proud to announce that I will be putting on a workshop on how to raise finance for your fitness business. You will be taught the skills & equipped with the tools to build an irresistible investor pack for your business.

When: Saturday 3rd September
What time: 9am-5pm
Where: The Mac, Belfast
How many spaces are there? This will be limited to 20 people.

There are two key concepts being presented throughout this workshop

1) Using other people’s money
2) Using other people’s experience

Both of these concepts are extremely powerful individually but when you use them both at same time they becomes a potential lethal combination to help take your business to a new level..

This will not be a workshop where you are told how good your idea is & how you are going to ‘build a 7 figure business’. You will be challenged & questioned on your plans to help you build a defensible & scalable business.

The barrier has never been so low to start a fitness business but don’t let this low barrier trick you into thinking it is going to be easy. The low barrier of entry brings a high cost of learning in an ultra-competitive marketplace.

I have arranged for some of the leading specialists to attend this event including representatives from CrowdCube (The UKs leadingCrowdfunding platform), HSBC Bank, Xero & Accountancy firms to help ensure your business is built on the right structure.

In addition to this Jean-Claude Vacassin from W10 Performance will be giving an insight from someone who has attracted investment into his gyms as well as invested in others.

This workshop is for people who are looking to start a new business or expand their current business & I can 200% guarantee that it will give you the tools to ensure you can build the business of your dreams.

Your business plan should act as a road-map to build your dream business. A good plan should tell a story and be compelling. There is no more important skill in business than the ability to sell (your idea, your business, your product). Great business people do not sell, they educate.

The workshop will have a list of the questions investors will have for you including (but not limited to)

1. Who are you?

Who is your management team? What’s your expertise and track record? Have any of you succeeded in doing this before? Who are your advisors and what are their credentials?

Key point: It’s all about the jockey & not about the horse.Your team is a critical part of the business plan.

2. What is it?

What is your product or service? This explanation must be easily understandable.

3. Where are you currently?

What benchmarks have you already hit?

If you’ve actually launched your business and have some sales and revenue, you’re at a very different point on the investment risk/ reward curve.

4. Where are you going?

What’s your goal? What milestones & trigger points will you hit along the way to achieving that goal?

5. Who wants it?

Who’s your target market? What’s the problem being solved? Where’s the pain? This is the second most important section after your management team

 Key point: Staying close to your customers, continually listening to what they want, and then adapting your fitness business to focus on those needs is the only way you’ll stay in business.

 

6. How many people will want it?

What’s your potential market size? You will be taught how to determine the correct demographics for your area as well as determining the market size and how to do proper forecasts. .

7. How do you know they want it?

What testing have you done that confirm your belief that if you build it, they will come?  How much do they want it? What’s the value proposition of your idea? Can you sell your services at a profit?

8. How will you tell them about it?

What’s your niche? How are you positioning yourself? How are you different? What’s your marketing plan?

Value is an important concept in business. Customers have to perceive value in your product (value-add). Investors have to receive value

Key point: Value-add is what your product or service does for the customer—from the customer’s point of view. This is important. Value-add is a perception, and the perception of value-add is always from the customer’s perspective.

Price is what she pays; value is what she receives. How you define your value-add proposition is of paramount importance because your value-add proposition is what defines your competitive advantage.

 9. How will you deliver it to them?

What is your business model(s)? What makes you different?

10. Who else has it?

Who’s your competition? What’s your competitive advantage?

11. What are the risks?

What are the unknowns? What could go wrong?

 

12. What are the rewards?

What are the projected financial results and the potential returns?

When emotion goes up, intellect goes down – You will be taught how to forecast accurately

 

13. What do you want?

What business deal do you propose between you and the investor(s)? Why is the amount of money you’re asking for sufficient to get you to the next milestone?

 

14. What’s the exit?

How does the investor ultimately cash out of this deal? All sophisticated investors will ask this question, so be prepared to answer it fully and honestly.

We will also cover the 5 key parameters an investor looks for in a business plan as well as finishing with a Q&A to make sure you leave with a road-map to build your dream fitness business.

In addition to this, there will be a number of sponsors available with preferred pricing for attendees.

-Glofox
-Start Up Active
-Xero
-Blu Star Finance
– Crowd Cube (UK’s largest crowdfunding platform)

Frequently asked questions

Who is this workshop for?

It is for anyone who wants to start or grow a fitness business.

Where is it?

It will be held at the Mac in Belfast

Will we be given a business plan? 

Yes, there will be templates there that have raised a lot of money for other fitness businesses.

Will food be served?

Yes, there will be lunch included.

Will there be a social after?

Of course – there will be drinks after the event.
There may be a second day which would involve implementation – basically applying what you learnt. If you are interested in attending send me an email to hello@fitnessbusinessexperience.com

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