Starting a youth training business - some starting advice would be nice - Accountability thread

[Ducklife88]

Target demographic:
10-~17 year olds, mostly male

What kind of value am I providing:
small group fitness courses focusing on bodyweight and athleticism, a better alternative to a gym especially for teenagers, coupled with teambuilding, healthy competetiveness and with a certified trainer to make sure the training stays healthy, and is not self destructive to a growing body as most gyms are, with a focus on semi individual service

How do I start/what do I need:
A hall with around 40-60 m2 in which I am going to build pullup bars, ninja warrior equipment etc. out of wood. monthly cost of that would be 400-600€
One time cost in terms of equipment(200€-5k, can vary a lot)

How do I get money in:
monthly memberships, 30€ a month for coming once a week, 50 if they want to come twice, max. of 12 kids a group, 10-12,13-15,15-17 age groups.
renting the place out to personal trainers when there are no courses.
Thats just the starter plan, I have many plans to scale the whole thing up, and it is very comparable with personal goals of mine#


Problems:
I'm broke. I recently moved to a bigger city as there are more people(and the real estate prices are cheaper in this part of the country despite it being a city, lol). Moving, appartment deposit, staying in a hotel a bit, have left me broke, meaning the earliest I can start is 4-5 months if I save a lot(welcome to the rat race)

The thing is, I want to take action NOW. I'm young, ambitous and have freetime.

So the current plan is: Do the exact thing, but in a public park where there are pullup bars for much cheaper(20 a month), get some equipment, get a group, cashflow together. If I KNOW I have already existing customers I can take a bigger risk and rent earlier, as I am going to have guaranteed cashflow and an already existing customer base.

The only doubt is that a park is not that "prestigous"/normal. Altough I don't really care about such things, parents do. It is normal to drop off your kids at a training center, at a park, eh not so likely.
So I would love some feedback on that part, maybe other things I could do different to have more "social proof"

Currently writing the copy/designing the webiste and opening up a facebook account to do targeted ads.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[WJK]

Target demographic:
10-~17 year olds, mostly male

What kind of value am I providing:
small group fitness courses focusing on bodyweight and athleticism, a better alternative to a gym especially for teenagers, coupled with teambuilding, healthy competetiveness and with a certified trainer to make sure the training stays healthy, and is not self destructive to a growing body as most gyms are, with a focus on semi individual service

How do I start/what do I need:
A hall with around 40-60 m2 in which I am going to build pullup bars, ninja warrior equipment etc. out of wood. monthly cost of that would be 400-600€
One time cost in terms of equipment(200€-5k, can vary a lot)

How do I get money in:
monthly memberships, 30€ a month for coming once a week, 50 if they want to come twice, max. of 12 kids a group, 10-12,13-15,15-17 age groups.
renting the place out to personal trainers when there are no courses.
Thats just the starter plan, I have many plans to scale the whole thing up, and it is very comparable with personal goals of mine#


Problems:
I'm broke. I recently moved to a bigger city as there are more people(and the real estate prices are cheaper in this part of the country despite it being a city, lol). Moving, appartment deposit, staying in a hotel a bit, have left me broke, meaning the earliest I can start is 4-5 months if I save a lot(welcome to the rat race)

The thing is, I want to take action NOW. I'm young, ambitous and have freetime.

So the current plan is: Do the exact thing, but in a public park where there are pullup bars for much cheaper(20 a month), get some equipment, get a group, cashflow together. If I KNOW I have already existing customers I can take a bigger risk and rent earlier, as I am going to have guaranteed cashflow and an already existing customer base.

The only doubt is that a park is not that "prestigous"/normal. Altough I don't really care about such things, parents do. It is normal to drop off your kids at a training center, at a park, eh not so likely.
So I would love some feedback on that part, maybe other things I could do different to have more "social proof"

Currently writing the copy/designing the webiste and opening up a facebook account to do targeted ads.

In our town, one of the church's youth pastors has an espresso shop set up for young people. It's working out pretty well. It's the hang-out spot.

 

[Ducklife88]

Well friends, after a depressing 5 months of just sucking it up and wage slaving I have the capital(around 3k) to start it.
Also have a place I signed a contract to. Took way to long but I dont really have someone to back me up and have to stem it alone.

Starting time is going to be the 15th of January.
Did some minor adjustments in terms of pricing and equipment.
Advertising is going to be word of mouth, flyers in schools, tik tok & facebook ads.
And of course keeping my fulltime job so I can pay for all of it.

Yeah thats basically it, not much else to say. This waiting game is really killing me lol

 

[Lex DeVille]

Well friends, after a depressing 5 months of just sucking it up and wage slaving I have the capital(around 3k) to start it.
Also have a place I signed a contract to. Took way to long but I dont really have someone to back me up and have to stem it alone.

Starting time is going to be the 15th of January.
Did some minor adjustments in terms of pricing and equipment.
Advertising is going to be word of mouth, flyers in schools, tik tok & facebook ads.
And of course keeping my fulltime job so I can pay for all of it.

Yeah thats basically it, not much else to say. This waiting game is really killing me lol

So stop waiting. Follow @Kak

You aren't going to build this business by yourself. It's not a one-person kind of business (especially to make it fastlane). Might as well get the help you need.

Get proof of concept. Build it on someone else's dime.

GOLD! - Think Big, and Then Think Bigger Than That.

About Texas Central This got me going today (my poor wife ;)) I think it’s interesting. The facts are... -The project will cost upwards of $15 billion. -It is a private Texas based company and it has never built a high speed railroad before. -They have the finances to complete the project...

www.thefastlaneforum.com

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[MJ DeMarco]

Please analyze my idea for providing small group fitness courses for teenagers and prepubescent children, focusing on bodyweight and athleticism, a better alternative to a standard gym especially for teenagers, coupled with teambuilding, healthy competitiveness, including a certified trainer to make sure the training stays healthy, and is not self destructive to a growing body as most gyms are, with a focus on semi individual service. This would be a physical building and be offered at subscription, say $30/month.

Evaluating your idea for small group fitness courses for teenagers and prepubescent children using MJ DeMarco's CENTS Framework and considering its 'Fastlane' potential:

1. Control: Operating a physical fitness facility gives you significant control over the business model, training programs, and customer experience. However, external factors like local competition, real estate costs, and regulatory compliance will impact your level of control.
2. Entry: The barrier to entry is moderate. It requires initial capital for space, equipment, and hiring certified trainers. Also, building a brand in the fitness industry can be challenging given the competition.
3. Need: There's a growing awareness of the importance of physical fitness for children and teenagers. Your focus on bodyweight and athleticism, coupled with team building and healthy competitiveness, addresses a specific need not typically met by traditional gyms.
4. Time: Initially, this business will require a significant time investment for setting up the facility, hiring staff, and developing programs. Over time, with reliable staff and systems in place, it could require less day-to-day involvement.
5. Scale: Scaling might be challenging as it is a location-based service. Expansion would likely require opening additional locations, which involves significant capital and operational challenges.

Revenue Calculations:

• $5,000 per month: You would need about 167 subscribers ($5,000 / $30 = 166.67).
• $100,000 per year: This equates to needing around 278 subscribers annually ($100,000 / ($30 * 12) = 277.78).
• $100,000 per month: A challenging target, requiring approximately 3,333 subscribers per month ($100,000 / $30 = 3,333.33).

Major Obstacles:

• Location Dependency: Success heavily depends on the location and its accessibility.
• Market Penetration: Building a customer base in the competitive fitness industry.
• Retention: Keeping the programs engaging and retaining members.
• Operational Challenges: Managing a physical facility and staff effectively.

Profit Margins:

• Likely moderate, considering the costs of maintaining a physical space, staff salaries, equipment, and marketing. The subscription model provides steady income but needs a consistent member base.

Marketing Strategies:

1. Partner with local schools and community centers for referrals and promotions.
2. Use social media and content marketing focusing on the benefits of fitness for young people.
3. Offer a free trial class or family discounts to attract new members.
4. Host open house events and fitness challenges.
5. Engage in local community events to increase visibility.

Actionable Steps:

1. Conduct market research to understand local demand and competition.
2. Secure a suitable location that is accessible and safe for your target demographic.
3. Develop a diverse range of courses that cater to different skill levels and interests.
4. Hire qualified and engaging trainers who are experienced in working with young people.
5. Create a robust marketing and customer engagement strategy to build and maintain membership.

Ethical and Legal Considerations:

• Ensure all trainers are certified and follow safety guidelines.
• Comply with regulations related to working with minors.
• Implement rigorous safety and hygiene standards in the facility.

Grade:

• Numerical: 70/100
• Letter: C-

This grade reflects the strong need and societal value of your service, balanced against the operational complexities and scaling challenges of a physical location-based business. Success in this venture will heavily depend on your ability to create a unique, engaging, and safe fitness environment that resonates with young people and their parents.

 

[Ducklife88]

Please analyze my idea for providing small group fitness courses for teenagers and prepubescent children, focusing on bodyweight and athleticism, a better alternative to a standard gym especially for teenagers, coupled with teambuilding, healthy competitiveness, including a certified trainer to make sure the training stays healthy, and is not self destructive to a growing body as most gyms are, with a focus on semi individual service. This would be a physical building and be offered at subscription, say $30/month.

Evaluating your idea for small group fitness courses for teenagers and prepubescent children using MJ DeMarco's CENTS Framework and considering its 'Fastlane' potential:

1. Control: Operating a physical fitness facility gives you significant control over the business model, training programs, and customer experience. However, external factors like local competition, real estate costs, and regulatory compliance will impact your level of control.
2. Entry: The barrier to entry is moderate. It requires initial capital for space, equipment, and hiring certified trainers. Also, building a brand in the fitness industry can be challenging given the competition.
3. Need: There's a growing awareness of the importance of physical fitness for children and teenagers. Your focus on bodyweight and athleticism, coupled with team building and healthy competitiveness, addresses a specific need not typically met by traditional gyms.
4. Time: Initially, this business will require a significant time investment for setting up the facility, hiring staff, and developing programs. Over time, with reliable staff and systems in place, it could require less day-to-day involvement.
5. Scale: Scaling might be challenging as it is a location-based service. Expansion would likely require opening additional locations, which involves significant capital and operational challenges.

Revenue Calculations:

• $5,000 per month: You would need about 167 subscribers ($5,000 / $30 = 166.67).
• $100,000 per year: This equates to needing around 278 subscribers annually ($100,000 / ($30 * 12) = 277.78).
• $100,000 per month: A challenging target, requiring approximately 3,333 subscribers per month ($100,000 / $30 = 3,333.33).

Major Obstacles:

• Location Dependency: Success heavily depends on the location and its accessibility.
• Market Penetration: Building a customer base in the competitive fitness industry.
• Retention: Keeping the programs engaging and retaining members.
• Operational Challenges: Managing a physical facility and staff effectively.

Profit Margins:

• Likely moderate, considering the costs of maintaining a physical space, staff salaries, equipment, and marketing. The subscription model provides steady income but needs a consistent member base.

Marketing Strategies:

1. Partner with local schools and community centers for referrals and promotions.
2. Use social media and content marketing focusing on the benefits of fitness for young people.
3. Offer a free trial class or family discounts to attract new members.
4. Host open house events and fitness challenges.
5. Engage in local community events to increase visibility.

Actionable Steps:

1. Conduct market research to understand local demand and competition.
2. Secure a suitable location that is accessible and safe for your target demographic.
3. Develop a diverse range of courses that cater to different skill levels and interests.
4. Hire qualified and engaging trainers who are experienced in working with young people.
5. Create a robust marketing and customer engagement strategy to build and maintain membership.

Ethical and Legal Considerations:

• Ensure all trainers are certified and follow safety guidelines.
• Comply with regulations related to working with minors.
• Implement rigorous safety and hygiene standards in the facility.

Grade:

• Numerical: 70/100
• Letter: C-

This grade reflects the strong need and societal value of your service, balanced against the operational complexities and scaling challenges of a physical location-based business. Success in this venture will heavily depend on your ability to create a unique, engaging, and safe fitness environment that resonates with young people and their parents.

Thanks for the lengthy post, its an honour. I remember reading your books when I was 13 during class and the english teacher thought I joined a cult because I was talking about fast- and sidelaners and that stuff lol

The main goal with that is to use my already available skills(all kinds of Fitness certifications, good with kids and used to teach semi pro gymnastics) to build a business thats bringing me money and lets me be more flexible.

Ive got other plans that are definitly more fastlane, scaleable and dont violate CENTS, but those have a higher entry barrier in regards to money and time management and are currently not feasible for my wage slave income. Except if I would work for another year, saving every penny and get a loan. Altough I can increase the chance of winning at the roulette with skills, mindset and accountability there is still too much of a chance for failure should I set it all on one horse, as we say in Germany.

The good thing is compared to the general Fitness industry, activities for kids is not saturated at all. Lots of parents are actively seeking a sports club or are already set on a waiting list. And while my 39€ pricetag is premium compared to other clubs(non profit), its still a good 10-20€ lower than for example a good boxing/parkour club, and offers a much better community and professionalism(certified trainer, most non profits are not qualified and will take anyone willing to teach once a week).

Those are alteast my selling points.

Will keep this thread updated through the highs and lows, already signed the lease thats going to start in 2 months, so no turning back or action faking

 

[Ducklife88]

Update:
Starting time is delayed by 1.5 months, new one is the 1st of March since:
-Credit Card stolen/lost
-Sub renting to personal trainers did not work out

The feedback Ive been getting is good, many potential leads. However, my facebook account was banned. Twice. No reason really, I even uploaded a picture for verification but they said "Yeah sorry dude it stays banned, theres nothing you can do, not my problem, community guidelines and stuff".
Did anyone else have a similar experience?

This has been the second time already, and even in the past Ive had bad experiences with facebook randomly disabling my ad account. Thinking of just not using facebook but idk if the spite in me thats speaking or if its a rational descicion.
Will still use Instagram and TikTok, but the primary demographic(Parents) will be on facebook. So the money Im investing in (facebook) ads I could use for old school methods like 20k flyers for 100 bucks and do it the old school way.

Going to post some pictures of the finished studio within the next days for those interested

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Ducklife88]

Been some time but Im still going. Couldnt make progress for around a month due to unforseen circumstance/irl stuff etc. but Im back on the grind.
Didnt update the thread since I thought im not getting value out of posting every minor pullupbar angle like a blog, nor am I providing that much except to a few interested fitness parties.

Things done:
Took high quality pictures
Made the website
Made fliers
dropped around 1-1.5k flyers off already
optimized the site for SEO(both in terms of keywords and loading speed, however since Im using squarespace the loading speed is not that satisfactory)
Running google ads at 0,4€ per click(too much/little ? its local and gymnastics/ninja warrior is not a hugely serarched topic according to analytics)
Made a twitter ads account, which got suspended after an indian support idiot thought it would be a cool idea after I made a general ticket)
Made a new twitter account, starting a campaign tomorrow since I want to age the account a few more days to not get automatically flagged
Got 3 form submissions of kids/parents that are going to join a training session on thursday, 2 others are interested but the day doesnt fit
I get an average of 10-15 consistent views a day on my site according to analytics with exceptions if I was dropping off lots of flyers

Things I can do better/are not going the way I want them to do:
I cant actively create instagram reels and advertise them since Im keeping the biz hidden from my boss for now(will tell him I want to reduce hours/quit/ say I am "going to be emploayed at another sports club" when I have around 200 bucks monthly income. Dont want to be honest currently because on the offchance that I get fired Im again in a very very not happy position financially
Ive gived up creating a facebook account since Ive had 3 of them deleted by the algo even when using my real name, face and uploading a verification picture. Which is unlucky since most parents are on that god forsaken site

TLDR;
Did the site, advertising through various sources and got 3 exicted customers for a tryout training, 2 when I offer other days.
cant create reels/tik toks actively the way I want them to because of reasons mentioned above, but its going slowly. Not the speed I want to but I (think I) cant increase that due to working a binding full time job that pays the bills and time constraints because of that and a side job


If anyone wants to drop their 2 cents feel free to do so. Keep in mind this isnt my final business due to scaleability issues, but will allow me to "buy" a job with higher income than the current one with much less time spent wageslaving