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How to Write a Martial Arts Business Plan With Examples

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Youth Mentoring Program Business Plan

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business plan for online training company

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business plan for online training company

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Preschool Business Plan

business plan for online training company

Dance Studio Business Plan

Did you find what you are looking for.

Thinking of starting a school or a coaching business? Or is it about vocational school?

Well, no matter what’s your business segment in the education and training sector—you need a solid business plan to turn it into a long-term success.

This library of education and training business plan samples here can inspire and guide you as you begin to plan your business. So, don’t worry; we got you covered on that part.

Let’s learn more about these sample training and education plans, starting with their benefits.

Benefits of using an industry-specific business plan example

Believe it or not, using an industry-specific business plan example is the best and probably the quickest way of writing a business plan.

Doubt it? Hold, this may change your perception; an extended list of the benefits of using an industry-specific business plan template.

  • Inspiration : Reading a business-specific template can be incredibly helpful in getting content inspiration. Furthermore, it helps you gain insights into how to present your business idea, products, vision, and mission.
  • Risk-free method : You are taking a reference from a real-life, let’s say, After-school program business plan—so you know this plan has worked in the past or uses a method subscribed by experts.
  • Deep market understanding : Analyzing and reading such examples can provide clarity and develop a deeper market understanding of complex industry trends and issues you may not know but relate directly to the realities of your business landscape.
  • Increased credibility : A business plan developed using an example follows a standard business plan format, wisely presents your business, and provides invaluable insights into your business. There’s no question it establishes you as a credible business owner, demonstrating your deep business and market understanding.
  • Realistic financial projections : Financial forecasting being a critical aspect of your plan, this real-life example can help you better understand how they project their financials—ultimately helping you set realistic projections for your business.

These were the benefits; let’s briefly discuss choosing an education or training business plan template that best suits your business niche.

Choosing an Education or Training Business Plan

This category has business plan templates for various education or tutoring businesses. With many similar business types and templates, you may not find the most suitable one through manual scrolling.

Here are the steps to consider while choosing the most suitable business plan template.

Identify your business type

Are you going to be an online coaching platform? Or a traditional school? Or a general daycare center?

Asking yourself these questions will help you identify your business type, which will help in choosing a niche-specific business plan template.

Once you identify your business type, you can choose between templates for different business segments.

Search for the template

We have an in-built search feature, so you can easily search for a business-specific template using your business name as a key term(e.g., summer camp business plan). Once you have the search results, choose the most suitable one. Simple as that.

Review the example

Look closely at the content of the sample business plan you are considering. Analyze its sections and components to identify relevant as well as unnecessary areas.

Since all the Upmetrics templates are tailored to specific business needs, there won’t be many fundamental customizations. However, a hybrid business model targeting multiple customer segments may require adjustments.

No big deal—you can view and copy sections from other business plan examples or write using AI while customizing a template.

That’s how you find and select the most suitable business plan for educational services. Still haven’t found the perfect business plan example? Here’s the next step for you.

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How To Start Your First eLearning Video Business – Full Guide

Learn More about Video Monetization

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  • What Is An eLearning Business

Why You Should Start An eLearning Business

  • eLearning Business Example
  • eLearning Business Plans (3 types)
  • How To Start An eLearning Business (6 steps)

Starting an eLearning business can be confusing.

You know you have the skill to teach, and some people want to learn it, but connecting the two and building a business around it? Man, where do you even start?

Well, it turns out, right here. 

At Uscreen we have lots of experience helping budding business owners, like you, start and grow their eLearning business. (Even if they have no entrepreneurial experience!)

And I’d like to share some of the major insights we’ve picked up along the way. Meaning you can get to work, safe in the knowledge you’re following the right steps.

So, if you want to start an eLearning business that is both profitable and enjoyable read on to find out more. We’re going to cover:

  • What is an eLearning business?
  • Why there’s never been a better time to start yours
  • A case study of a 5-figure eLearning business
  • 3 types of successful eLearning business models
  • How to start an eLearning business in 6 steps

Let’s go…

What Is An eLearning Business?

An eLearning business is an online platform that educates people, either by imparting niche-specific knowledge or teaching new skills. 

eLearning businesses generate income in a number of ways, but the most common are:

  • One-off sales of products like eBooks and courses
  • Subscription access to independent online schools

Self-paced online learning has become popular over the last few years – it’s worth around $103.8 billion – and the COVID-19 pandemic has accelerated the industry’s growth. (More on that next!)

So, what makes eLearning businesses so popular? Well, for students, it’s because they offer a lot of flexibility . They can choose their own…

  • instructors 
  • learning schedules
  • payment options

…to create a customized experience that fits their needs. These are all important elements that aren’t typically offered by traditional offline learning environments.

Instructors can also take advantage of higher levels of flexibility and creative freedom. You’re not bound by traditional syllabuses or teaching structures.

Instead, you can cover the topics that interest you, in the niche you care about, to provide the most value to your audience. Better still, you can work on your own schedule.

At Uscreen, we’ve seen people build profitable eLearning businesses around:

  • Arts & Crafts .
  • Basketball.
  • Self-Help .
  • Musical instruments.
  • Language learning.
  • Many, many more.

And, thanks to the COVID-19 pandemic, there has never been a better time to start an eLearning business. Here’s why…

COVID-19 has shaken up how we approach work, learning, and recreation. And, people from all over the world are turning to eLearning platforms in the “new normal”.

Specifically, we’ve seen a rise in 3 types of learners:

  • Those looking to grow and adapt to different ways of working.
  • Those looking to escape the pandemic through learning new skills and knowledge.
  • Those looking to learn in COVID-19 safe environments .

In fact, Google’s data shows a clear rise in people looking for terms like “online course” since the first lockdown measures were introduced:

business plan for online training company

There’s now a clear opportunity for anyone who wants to start an eLearning business. The supply of online learning resources is nowhere near the current demand for it!

The Associated Press reports that demand will grow 10% each year until 2024 when it will reach a worth of $21.64 billion . (Tapping into just 1% of that industry would be $216.4 million!)

Better still, when you build your eLearning business using online video , it can be affordable to start and manage, with potentially high returns. Let’s look at an example to show you what I mean!

How Frances Long Built A 5-Figure eLearning Business

Frances Long runs Your Book Of Memories , where she teaches people how to make their own mini albums.

business plan for online training company

Frances began by creating videos for her YouTube channel using a simple, inexpensive setup. Though the content of each video is complex, the creation of it is not.

Here’s one of her early videos so you can see what I mean:

Click here to watch the video -> youtube.com/watch?v=8idTnr4wdSk

Once she built a community on her channel, she pivoted to running her own eLearning business using Uscreen . 

Students can access her content in 2 ways:

  • They can pay a monthly fee for access to her school, and access all of the tutorials in her library
  • They can pay a one-off fee to access an individual tutorial

This gives Frances’s audience flexible access to her premium educational content. And, it gives Frances multiple income streams for her eLearning business.

business plan for online training company

The combination of these simple elements helped Frances bootstrap her way to $13,000 in her first 4 months after launching, and her income continues to grow.

In the next section, we’re going to look at how you can start your own eLearning business, starting with choosing the right business plan.

The 3 Types Of eLearning Business Plan s

There are 3 different types of eLearning business plan you can use:

  • The “night school” model
  • The “academy” model 
  • The “combined” model

Let’s take a look at them and see which one is right for you…

Option 1: The “Night School” Business Model

The “night school” model is a classic if you just want to sell one-off access to a course. It’ll be familiar to you if you’ve ever taken an adult learning course.

Students…

  • pay an up-front fee for the course
  • follow a set structure from start to finish (with little deviation from the main topic)
  • finish the course with a test or quiz to show proficiency

…making them best suited for students who are focused on learning one topic or skill. 

InkWorkshops use this eLearning business model well. They sell individual access to laser-focused tattoo workshops:

business plan for online training company

The benefit of this business model is that you receive a lot of up-front money. You can generate hype and sell access for a short time, which can translate into high earnings.

The downside is you only earn once from each customer. Once they have access, there’s no need for them to reinvest in this course.

You’re also limited to one topic per course, so you’ll need to create multiple standalone courses if you want to cover a variety of topics, which can be pretty time-consuming.

Option 2: The “Academy” Business Model

The “academy” model is a much longer-term option.  It’s where you create an online school that allows…

  • your students receive recurring value
  • you receive a recurring income

…in exchange for a recurring monthly subscription fee.

The academy style model allows you to focus on a breadth of skills your students will need. You can build an extensive library of tutorials to cover multiple necessary skills.

Let’s say you want to start an eLearning platform for guitarists. Instead of teaching one skill – like how to play a specific song – you could open it up to teach:

  • How to practice chord progressions.
  • How to restring your guitar.
  • The basics of finger-picking.
  • How to read sheet music.

These topics are far too complex and important to make part of one single course, so they all need to be taught as skills in their own right. 

Magic Stream does this extremely well. They’ve built an extensive catalog of videos that budding magicians can access for a minimal monthly fee:

business plan for online training company

From the business side of this, there are lots of benefits.

You can earn a recurring income every month from both past and new students. And, you can continue to earn from content you uploaded months or even years before!

Option 3: The “Combined” Model

Okay, this is my favorite eLearning business model…

The “combined” model is where you take the night school and academy models and put them together to create a supercharged income opportunity.

Here you use:

  • the academy model as your core offering.
  • the night school model to provide flexible options or add-ons.

It could be that your customers want access to just one tutorial from your database, or you’re offering a special live stream session that’s worth paying a few extra dollars for.

Students are ready and willing to pay for these if they feel it will help them improve at what it is they’ve come to learn from you.

This is the same model that Your Book Of Memories used earlier in the post, so you know it’s tried and tested!

How To Start An eLearning Business In 6 Steps

In this section, we’re going to explore how to start an eLearning business and share the specific steps you need to take.  You’re going to:

  • Define your audience
  • Identify your core content
  • Pick and create 1-3 actionable lessons
  • Select your eLearning platform
  • Set your prices
  • Market your new eLearning business

Before we start, it’s going to be useful if you already have authority within an online community, or audience you’ve created, before you begin to build an eLearning business. 

This will give you better access to content ideas, potential customers, and initial feedback. While not essential, I do recommend you have this before you follow any of the steps below!

Let’s get into it…

1. Define Your Audience

The first step is to define your target audience. 

It’s useful to think of this as a subsection of your current audience. The 20% of people who will be interested in signing up for your premium service.

Ideally, you’ll build an “avatar” that is an amalgamation of the 6-8 key characteristics, wants, and needs that your customers share.

You should ask questions like:

  • How old are they?
  • What gender (if relevant) are they?
  • Where are they located?
  • What are they struggling with?
  • What do they want to achieve with the skills you’ll teach them?

The answers to these questions will differ depending on your niche and what you teach. The best way to answer them is to reach out to members of your current audience and ask them!

Here is a great video from entrepreneur, Eben Pagan , on how to create a customer avatar, with specific examples from an eLearning business:

Click here to watch the video -> youtube.com/watch?v=08-_QTkcJx4

2. Identify Your Core Content

The next step is to identify the specific lessons your audience needs the most.

These are the core skills that will have the biggest impact on your audience’s success. If they come away armed with these 1-3 things, they’ll have got their money’s worth.

This will help you ensure your existing customers are satisfied and help you to attract new customers with your core materials.

Let’s say you’re building an eLearning business for creative freelancers. You might create your core lessons around:

  • Acquisition: how to find and pitch to new clients
  • Productivity: how to manage your time and workload
  • Negotiation: how to effectively raise your rates

This is something we do in our own eLearning products. For example, in Fitness Accelerator , we focus on 3 core categories for our video tutorials:

  • Setting up: how to set up your online fitness platform
  • Pro tips: how to create engaging, professional content
  • Marketing: how to grow your online fitness business

Here’s how that looks on the website:

business plan for online training company

These core elements should hit the key needs and take your customers towards their desired end result.

3. Pick & Create 1-3 Actionable Lessons

In this step, you’re going to drill down and create some actionable lessons.

I recommend you create a completable “module” for each of your core content categories before you launch your eLearning business.

Sticking with the creative freelancer example from above, this might look like:

  • Acquisition: how to write a high-converting outreach email
  • Productivity: how to structure your working day
  • Negotiation: 10 key things your proposal needs to have

The point here is to choose high-value lessons that set the tone for your future content, and can generate early results or progress for your customers!

If you’re starting off on a low budget, here is a great video from Think Media on how to create your first videos using only your smartphone:

Click here to watch the video -> youtube.com/watch?v=ek53TQ9U35o

4. Pick Your eLearning Platform

It’s time to look at where you’re going to build your eLearning business.

You may already have considered some “education” platforms that allow you to host single courses, but I’m going to recommend you consider a more comprehensive solution. 

Specifically, I’m going to recommend you use a video monetization platform. Here’s why…

Video is the most effective way of teaching people remotely. It allows you to convey complex information easily. Just ask the 86% of people who use YouTube videos to learn new skills !

You also need a platform that allows you to:

  • Create your own controlled learning environment
  • Connect directly with your audience within a standalone platform
  • Offer a wide range of payment options
  • Create combinations of monetization options
  • Use analytics for both your videos and marketing
  • Take control of your income

You can do all of this – and much, much more – by using Uscreen . You can find out more about us, and what we offer, by clicking here or watching the video below:

Click here to watch the video -> youtube.com/watch?v=fxAZYn6gj74

5. Set Your Prices

Next up, let’s look at how to set prices for your eLearning business.

In the video below one of our resident video experts, Nick Nimmon, will talk you through a tried and tested strategy for setting prices for online courses and eLearning businesses.

Check it out:

Click here to watch the video -> youtube.com/watch?v=0YkQySdR9VU

6. Market Your eLearning Business

The final step is to begin marketing your eLearning business. This is where having an existing audience really helps!

I recommend you start by identifying your existing marketing channels, like…

  • your newsletter
  • social media feeds
  • YouTube channel audiences
  • community forums 

…and promote your new platform there. 

business plan for online training company

You should also consider using YouTube to create a marketing “funnel”. This is where you share:

  • Top-level videos to engage potential and new audience members
  • Middle-level videos to begin educating them
  • Bottom-level videos, like trailers, to point them towards your platform

You can learn more about how to create a YouTube marketing funnel here .

Better still….

You can use Uscreen’s marketing tools to build more comprehensive and effective marketing campaigns. With them, you can:

  • send abandoned cart emails
  • create “reduce churn” sequences
  • offer high-converting free trials
  • share promotional coupons
  • connect with 1000+ tools via Zapier

…so you can build tailored campaigns to market your eLearning business, your way.

Bonus: Join Uscreen’s Instructional Video Business Accelerator

We created the Instructional Video Business Accelerator for those of you who are serious about starting an eLearning business.

Uscreen's elearning video business accelerator landing page

The Instructional Video Business Accelerator is a self-paced program that helps you learn the core skills you need to build a long-term eLearning business. It’s made up of hours of video tutorials that will help you:

  • Create your eLearning business.
  • Record impactful video lessons.
  • Build a community of excited students.
  • Effectively market your platform.

The Instructional Video Business Accelerator is automatically accessible to all eLearning Uscreen clients. Start your free trial to get access today ! Be sure to check eLearning as your industry while signing up.

Wrapping This Up…

There has never been a better time to start an eLearning business. COVID-19 has changed the way people want and need to learn, and the demand is higher than ever.

If you want to learn more about the key skills you need to launch and grow your own eLearning platform, be sure to check out Uscreen’s Instructional Video Business Accelerator!

Care for an on-demand demo?

Uscreen on demand demo

James Johnson

James is the Content Marketing Manager at Uscreen. He's a guitar-playing, book-reading, film-watching, language-learning, lo-fi-hip-hop-listening kind of guy who loves being creative.

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E-learning Business Plan Sample

SEPT.30, 2013

E-learning Business Plan Sample

E-learning Business Plan for starting your own business

If there’s one thing we’ve learned from the COVID-19 pandemic, that is, we can do a lot more from home than we previously thought. We are presenting this business plan for educational services from home. This is the right time to get started with an e-learning business as people are still reluctant to go out.

If you want to know how to set up and elearning course, you are in the right place. Just like a business plan for a driving school or a business plan for language school , this one is based on an actual start up. Let’s see the components of strategy that will help Smart E-learning School succeed.

Executive Summary

2.1 the business.

Smart E-learning School will be owned and headed by Hazel White. The school will be focused on providing technical education via the internet and distant learning. The courses offered by the school will be about computer, languages, and programming. starting a e learning business is easier than you think. It is just like a preschool business plan but everything is online.

2.2 Management of E-Learning Business

If you are looking for an answer to how to start e learning business, here it is. The online school business plan will be headed by White and she will hire specialists of each field to help her plan how to set up online training courses in such a way as to make the maximum profit. A mobile application business plan will also be needed to make the business available for all.

2.3 Customers of E-Learning Business

The customers of Smart E-learning School will be from all geometrographic geographic subdivisions from all over the US. The main customers of the business will be:

  • People looking to acquire new skills.
  • People wanting to learn new languages.
  • People interested in learning photography and videography.
  • College graduates wanting to get safety and other certifications.

2.4 Business Target

The subjective target of this online school business plan is to create a reputable name in the elearning industry. However, we’ve set the following objective targets:

  • Enroll 5,000 students within the first 6 months.
  • Generate a revenue of $0.3 million per annum by the end of year 3.
  • Expand to the global market by the end of year 2.

E-Learning Business Plan - 3 Years Profit Forecast

Company Summary

3.1 company owner.

Hazel White will be the owner and CEO of Smart E-learning School. White has worked as an educationist for 30 years. She previously implemented a tutoring business plan with success. That makes her the perfect person to implement this e learning business plan sample.

3.2 Why the E-learning business is being started

After the coronavirus pandemic, people have realized that it is cost and time effective to learn from home than going to a school. The greatest evidence of this is the increase in the use of services like Google Classroom and Zoom. This is be best time to start e learning business.

3.3 How the E-learning business will be started

Step1: Planning

The first step towards successfully launching this online school business plan is business model for e learning is planning. The managemental hierarchy of the business will be developed and online education e learning sample business plan implementation strategy will be finalized. This is not as simple as a martial arts business .

Step2: Developing a Brand

The next step towards starting the business will be establishing a brand. Top-ranking educationists will be hired to create an impression of the brand. Just like a martial arts business plan it is important to have a brand.

Step3: Establish a Web and Physical Presence

Once the brand has been established, the next step will be to hire office space to start the work. An extensive website will be launched to make the business accessible for customers.

Step4: Promote and Market

The next step will be to create a strong marketing strategy to help the business get noticed by the customers.

E-Learning Business Plan - Startup Cost

The next thing that needs to be addressed in this e learning business plan template are the services. If you want to start your own e learning business, you need to determine the services.

Smart E-learning School will be focusing on 20 services divided into 4 categories:

1. Basic Freelance Skills Training

This category will teach people the basic level and easy freelancing skills that they can use to make money. This will include:

  • Freelance writing.
  • Content creation.
  • Data entry.
  • Use of popular word processors

2. Advanced Freelancing Skills Training

This head will cover specialized skills that can be used for freelancing as well as office jobs. These will include:

  • Video editing.
  • Basic programming.
  • Photo editing.
  • Virtual assistant training.
  • Business plan writing .

3. Languages

We will also be teaching people languages that can increase the chances of them getting better employment opportunities. Smart E-learning School will teach:

  • Entry level Chinese.
  • Intermediate Spanish.
  • Advanced English.
  • Intermediate French.
  • Advanced Spanish.

4. Advanced Skills

These will include:

  • Photography.
  • Videography.
  • Automotive repair.

Marketing Analysis of E-learning Business

If you want to know how to start e learning business online, you need to conduct marketing analysis. This is the part where we determine the economic viability of the project.

UK Start-Up Visa Business Plan

As of 2019, there are more than 31,000 elearning companies in the US. The market capitalization of the elearning industry was 144 billion USD in 2019. It has been growing ever since at a rate of 14.4% annually and is expected to be worth more than 370 billion USD by 2025.

If you want to start your own e-learning business pdf, you’ll need to come up with an innovative approach. However, the COVID situation has made things easier. People now prefer to learn via elearning rather than attending an actual school.

Great service

Great service. Good turnaround time and quality work. Thanks!

One of the most profitable customer bases for any e learning business model are small to medium enterprises. These companies want to get their employees trained at the lowest possible cost. That is only possible through elearning. This enables the employees to receive training while they are in the office and they do not have to take a leave for it.

Another thing that you need to take care of while planning to start an online school business plan is the availability of teachers. If you want to succeed as a new entrant in the industry, you’ll need to hire the best teachers. The best teachers and trainers in the territory are the people who can make the business a success for you.

You also need to look into the way others in the same industry are operating. The way they teach, examine, and certify their students are some of the very important things to get inspiration from.

5.1 Market Trends

As stated earlier there are more than 31,000 e-learning businesses in the US. The market, however, has not always been like this. There were only a handful of distant learning companies operating in the US before the widespread use of the internet. These companies taught through distant lectures on dedicated TV channels and conducted examinations in large cities.

Since the 2000s, the industry started to bloom. It had a growth rate of 7% in 2002. The number and magnitude of e-learning businesses kept going up and the growth rate accelerated over the years. The industry still has a 14.4% growth rate meaning that new entrants still have a chance.

5.2 Marketing Segmentation

In this business writing e learning we’re listing the expected customers of Smart E-learning School:

E-Learning Business Plan - Marketing Segmentationt

5.2.1 People Looking for Skills to Earn

One of the main customers/students of any elearning setup are the people who are looking for a cost-effective way to acquire skills. This segment will makeup the bulk of independent customers at Smart E-learning School.

5.2.2 People Looking to Learn Languages

A substantial portion of the students at Smart E-learning School will be the ones looking to learn new languages. These people will be the high paying ones as language education is expensive.

5.2.3 People Learning Skills as Passion

People also go to elearning schools to learn things they are passionate about. We’ll teach photography and videography to such people. However, people can also learn the same for earning money. We don’t judge anyone at Smart E-learning School.

5.2.4 Small to Medium Enterprises

We will also be providing online training solutions for the companies that cannot have their own training wings. This will make up the largest single market segment by revenue as such clients often need training for a lot of people.

5.3 Business Target

  • To establish Smart E-learning School as a leading distant learning services provider.
  • To make some permanent corporate clients and sign long-term training contracts with them.
  • To start making $26,000 a month by the end of year 3.
  • To maintain a CSAT score of more than 90%

5.4 Product Pricing

All courses and training programs will be priced as per the competitors. The prices will be kept a little bit lower than competing businesses to earn clients at the start.

Marketing Strategy of E-learning Business

In order to start a successful business any business e learning marketing plan sample must contain a solid marketing strategy. As the elearning market is a saturated one, a lot depends on how well we present the online school business plan.

If you have come this far looking for how to start a e-learning business proposal, you need to know the importance of an effective marketing strategy. We need to highlight the areas where we are stronger than our competitors. Only then we can succeed.

6.1 Competitive Analysis

  • We will implement modern learning techniques to make our trainings better than what the competition has to offer.
  • We will be hiring the top-notch professionals of every field to make sure we deliver the best.
  • We will design innovative training solutions for small to medium enterprises to get permanent clients.

6.2 Sales Strategy

  • We will use TV commercials, Google Ads, and banners to promote our nascent brand.
  • We’ll offer discounts in the first 6 months to attract people and advertise the business in turn.
  • We’ll make specialized plans for corporate clients

6.3 Sales Monthly

E-Learning Business Plan - Sales Monthly

6.4 Sales Yearly

E-Learning Business Plan - Sales Yearly

6.5 Sales Forecast

E-Learning Business Plan - Unit Sales

Personnel plan

The next step for this business plan for e learning company is making a list of people needed to effectively run the company. One thing that must be noted here is that this online school business plan is unique. It will be needing both administrators and teachers to run.

7.1 Company Staff

  • Hazel White will be the owner of the company.
  • 1 Manager Liaison will be needed to connect with the outside world.
  • 4 Language Teachers will be needed, one for each language being offered.
  • 7 Skills Teachers will be needed for all the subjects being offered.
  • 1 IT Expert will be hired to make sure the website runs smooth.
  • 1 Social Media Manager to manage the much-needed social presence of the school.
  • 1 Accountant
  • 1 Technician to upkeep technical equipment.
  • 1 Receptionist

Financial Plan

The final part of this e learning business case will tell how much capital will be needed to start the business. This will cover the amount of money that is needed from the way the execution of the business is started to the day it starts breaking even. Here are some of the costs that must be taken into consideration:

  • The rent of the place to set up the business in.
  • The amount needed to purchase office equipment.
  • The money needed to set up and online portal for the school
  • Marketing and publicity expenses.
  • Money required to pay the employees before the company starts generating revenue.

8.1 Important Assumptions

8.2 break-even analysis.

E-Learning Business Plan - Break-even Analysis

8.3 Projected Profit and Loss

E-Learning Business Plan - Profit Monthly

8.3.2 Profit Yearly

E-Learning Business Plan - Profit Yearly

8.3.3 Gross Margin Monthly

E-Learning Business Plan - Gross Margin Monthly

8.3.4 Gross Margin Yearly

E-Learning Business Plan - Profit Yearly

8.4 Projected Cash Flow

E-Learning Business Plan - Projected Cash Flow

Download e learning business plan sample in pdf

OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.

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How to start a training business: 6 steps to success

How to start a training business: 6 steps to success

Updated on: 10 Dec 2020 by Nikos Andriotis , 8 mins to read

The eLearning market is growing — fast. So fast, that from the $200 billion in 2019, it’s now expected to grow over $375 billion by 2026. And as people are warming up to the idea that eLearning is just as effective as traditional training, there’s never been a better time to think about how to start a training business.

Before you jump headfirst into starting a training business of your own, you’ll want to slow down and make sure you have everything in place. Do you know what will make your business successful?

Here’s our six-step plan on how to start a training company .

How to start a training business in 6 steps (and make it a success)

Starting a training company isn’t much different from setting up any other company. You’ll still need to think about all the essential aspects of business 101: Who’s your client base ? How will you persuade them to choose you? How will you beat the competition ?

Let’s look at how you can set your eLearning business up for success.

  • Know your audience
  • Use the right technology and tools
  • Think about the content
  • Partner with the right people
  • Run it like a business

Curious to learn more? Let’s dive in!

1. Know your audience

Before starting your own training business, you need to decide who you’ll target with your business.

Enter market research.  The best way is to hire a market research company that can assess the viability of the training business you’re considering. A more affordable option is to talk to people, run an informal survey, or put up a simple “sign up for updates” form on your Facebook or landing page to gauge people’s interest.

Ultimately, the goal is to land on a specific target audience for your services before you start a training business. Who are they? What do they need to learn? What do they want to learn? The next step is to determine how large this audience is . This way you’ll be able to estimate your company’s profitability.

Sustainability and profitability are two elements you should look at before you commit your time and money to start an online training business. Of course, you’ll only be able to tell with real certainty after your business opens doors, but this will definitely help you rule out some impossible markets.

Another factor you need to consider regarding your audience is whether  you’re targeting your local market (which, in countries like the US or China can be more than big enough) or an international one. This will affect a great many things, such as your content (depending on who you want to reach you might need to offer localized courses), the way of delivery (to easily target an international audience you’ll need a full-featured eLearning platform), even your payment methods.

Another consideration is whether you are targeting the general market (that is, J. Random User on the web) or businesses.

Don’t rule out enterprise training. Offering enterprise training as an outside contractor is a wholly viable business option. Not all enterprises have internal enterprise training programs, and even those that do, don’t cover all their training needs with them. That’s where you, as an independent training contractor could come in and offer a complete training program saving them from the hassle of deploying and maintaining it.

2. Use the right technology and tools

To run a successful eLearning business, it’s important to pick the right technology. After all, eLearning is 50% content and 50% delivery. Delivery refers to speed, UI, ease of use, intuitiveness, features ,  and more. And that is all technology.

Modern technology, high-speed internet, and the emergence of turn-key, full-featured LMS platforms like TalentLMS , have leveled the playing field. With the right tools in place, even a small, two-person company can compete with a big, established training provider — if not in breadth of content, then surely in quality and presentation.

Besides, don’t forget that the technology you choose will affect your scalability options further down the road — i.e. how big your business can eventually get.

You probably want your eLearning business to be infinitely scalable from day one, but that’s not easy (or affordable) to achieve, especially if you’re considering building the learning platform yourself. It’s also something that’s not necessary to address when you first start a training business.

In this case, cloud-based LMS is the best solution , as essentially you offload the scalability problem to your cloud provider, and you’re free to increase your plan (and reach) whenever the need arises.

This flexibility will usually come at a small per-user fee, paid to your Cloud vendor. But, unless you’re at Google scale, it’s still better than paying a huge amount upfront for building your own server farm, plus the salaries to maintain your own IT team.

Build your online training courses in minutes with TalentLMS. The learning management system that’s easy to set up, easy to use, and easy to customize.

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3. Think about the content

When we’re thinking about how to start a training business, one of the first things that comes up is content. Because content is indeed the core of your business.

Whether you’re offering Arabian flute lessons to all consumers or Economics 101 to enterprise audiences, your content needs to be top-notch, because this is what will make your eLearning business stand out.

Think polished, professional-looking content , with a high enough production value. No sloppy writing, no boring PowerPoints, no boring videos of talking heads.

Take the time to do it right yourself. Or hire a talented writer, and learn about all the trade tricks that can increase the perceived — and actual — quality of your content (e.g., consistent typography).

The most important decision, though, is the kind of content you’ll invest in. While you might be passionate about Latin, it doesn’t mean others are too — especially not a large enough audience to help you sustain an online training business.

You should also be cautious of uber-trendy subjects, as they may be unsustainable for any significant period of time. Cryptocurrency might be trendy now, but not in the next two years, and the last thing you’d want is to have invested loads of money on content that won’t pay off.

4. Partner with the right people

You might be tempted to wear every single hat in your new business. That’s fair. When you’re starting a training business, chances are you can’t afford to hire a dedicated department for marketing or sales. But, doing it all yourself is not a viable option, either.

Instead, find the right freelancers and partner with them. For example, you can outsource plenty of business administration tasks to a virtual assistant. You can hire freelancers to cover your marketing tasks, and even get instructional designers and subject matter experts to design your courses.

Be honest about your weaknesses and your strengths. And then hire the right people who complement those.

How to Start a Training Business | TalentLMS

5. Market it

If you have your business license at hand, your content polished and loaded, and your LMS ready to welcome your learners, you might think you’re all set.

But that’s just the first part of starting a training business. The really hard part will be to market your training offering so that enough people sign up.

This all depends on your marketing budget and your ingenuity. At the very least, you should give your website and service a professional and memorable look based on your corporate branding .

Your target audience will also determine how you will market your eLearning offerings. For example, if you target a niche industry (e.g., music production courses), then it would be a good idea to advertise in trade magazines and websites. If you’re competing for enterprise training contracts, you should target websites like LinkedIn, talk to enterprise executives directly, etc.

Of course, if your eLearning business idea is unique and your content well thought out, it might market itself through word of mouth and favorable online reviews. But don’t depend on that  — to paraphrase Glengarry Glen Ross, you should “always be marketing”.

6. Run it like a business

This goes without saying, but if you want to start your own online training business, you would need to treat it like a business, too.

First, you’ll need a quick starter course in economics to learn about revenue, taxes, and  pricing . Don’t assume that you know these things and that running a business is intuitive. Some economic concepts are common knowledge. But most will come as a surprise, or maybe a revelation. A lack of understanding of notions like sunk cost, opportunity cost, and price curves has hurt far too many businesses to mention.

You’ll also need to keep up with the bureaucracy (the IRS doesn’t joke around), keep an eye on your competitors, and be on the lookout for new business opportunities and partnerships.

If what you have in mind is the cliche image of a boss who doesn’t do anything but collect profits each month, you better forget it. Running a business is a 24/7 job.

How to start a training company 101: From theory to practice

Now you know how to start a training business. And even though it’s hard work, there’s never been a better time to dive in. The online training industry is booming and will continue to grow.

Are you considering starting your own training and development company? What’s stopping you? Already a proud eLearning business owner? What lessons did you learn when you started your training business?

Let us know in the comments!

Save time, frustration and money with TalentLMS, the most-affordable and user-friendly learning management system on the market. Try it for free for as long as you want and discover why our customers consistently give us 4.5 stars (out of 5!)

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Originally published on: 13 Jul 2018

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Personal Training Business Plan Template

  • Written by Dave Lavinsky

personal training and crossfit business plan

Table of Contents

Personal training business plan.

Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their personal training companies. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a personal training business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What Is a Personal Training Business Plan?

A business plan provides a snapshot of your personal training business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.

Why You Need a Personal Training Business Plan

If you’re looking to start a personal training business or grow your existing personal training company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your personal training business to improve your chances of success. Your personal trainer business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Personal Training Businesses

With regards to funding, the main sources of funding for a personal training business are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for personal training companies.

Finish Your Business Plan Today!

How to write a business plan for a personal training business.

If you want to start a personal training business or expand your current one, you need a business plan. The business plan outline below details the necessary information for how to write each essential component of your personal training business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of personal training business you are running and the status. For example, are you a startup, do you have a personal training business that you would like to grow, or are you operating a chain of personal training businesses?

Next, provide an overview of each of the subsequent sections of your plan.

  • Give a brief overview of the personal training industry.
  • Discuss the type of personal training business you are operating.
  • Detail your direct competitors. Give an overview of your target customers.
  • Provide a snapshot of your marketing strategy. Identify the key members of your team.
  • Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of personal training business you are operating.

For example, you might specialize in one of the following types of personal training businesses:

  • Mobile personal trainer: This type of business involves traveling to the client’s home, a park, or another location that is convenient for the client to provide personal training sessions.
  • In-home personal trainer: This type of business is operated out of the trainer’s own home. This type of business may be great for trainers that have their own equipment.
  • Online personal trainer: This type of business involves providing training one-on-one or group sessions online live or via pre-recorded webinars.
  • Gym trainer: This type of personal training business operates out of a gym that allows the trainer to work with their own clients at the gym.

In addition to explaining the type of personal training business you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

  • When and why did you start the business?
  • What milestones have you achieved to date? Milestones could include the number of clients served, the number of sessions provided with positive outcomes, reaching $X amount in revenue, etc.
  • Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the personal training industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the personal training industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.

The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your personal trainer business plan:

  • How big is the personal training industry (in dollars)?
  • Is the market declining or increasing?
  • Who are the key competitors in the market?
  • Who are the key suppliers in the market?
  • What trends are affecting the industry?
  • What is the industry’s growth forecast over the next 5 – 10 years?
  • What is the relevant market size? That is, how big is the potential target market for your personal training business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your personal trainer business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, schools, families, and corporations.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of personal training business you operate. Clearly, individuals would respond to different marketing promotions than corporations, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.

With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other personal training businesses.

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes other types of trainers, coaches, gyms, and fitness programs. You need to mention such competition as well.

For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

  • What types of customers do they serve?
  • What type of personal training business are they?
  • What is their pricing (premium, low, etc.)?
  • What are they good at?
  • What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

  • Will you make it easier for clients to acquire your services?
  • Will you offer products or services that your competition doesn’t?
  • Will you provide better customer service?
  • Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a personal training business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type of personal training company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide lifestyle training, boot camps, or performance training services?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the products and/or services you offer and their prices.

Place : Place refers to the site of your personal training company. Document where your company is situated and mention how the site will impact your success. For example, is your personal training business located in a busy retail district, a business district, a standalone gym, or purely online? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your personal training marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

  • Advertise in local papers, radio stations and/or magazines
  • Reach out to websites
  • Distribute flyers
  • Engage in email marketing
  • Advertise on social media platforms
  • Improve the SEO (search engine optimization) on your website for targeted keywords

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your personal training business, including answering calls, planning and providing training sessions, billing customers and collecting payments, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to book your Xth session, or when you hope to reach $X in revenue. It could also be when you expect to expand your personal training business to a new city.

Management Team

To demonstrate your personal training business’ potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing personal training businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a personal training business or successfully running a small fitness class.

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you see 5 clients per day, and/or offer group training sessions? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your personal training business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a personal training business:

  • Cost of equipment and supplies
  • Payroll or salaries paid to staff
  • Business insurance
  • Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your gym location lease or testimonials from happy customers.

  Summary Writing a business plan for your personal training business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will understand the personal training industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful personal training business.  

Personal Training Business Plan FAQs

What is the easiest way to complete my personal training business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your personal training business plan.

Where Can I Download a Personal Trainer Business Plan PDF?

You can download our Personal Trainer business plan PDF  here. This is a business plan template you can use in PDF format.

How Do You Start a Personal Training Business?

Starting a personal training business is easy with these 14 steps:

  • Choose the Name for Your Personal Training Business
  • Create Your Personal Training Business Plan
  • Choose the Legal Structure for Your Personal Training Business
  • Secure Startup Funding for Your Personal Training Business (If Needed)
  • Secure a Location for Your Business
  • Register Your Personal Training Business with the IRS
  • Open a Business Bank Account
  • Get a Business Credit Card
  • Get the Required Business Licenses and Permits
  • Get Business Insurance for Your Personal Training Business
  • Buy or Lease the Right Personal Training Business Equipment
  • Develop Your Personal Training Business Marketing Materials
  • Purchase and Setup the Software Needed to Run Your Personal Training Business
  • Open for Business

  OR, Let Us Develop Your Plan For You Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to see how a Growthink business planning advisor can create your business plan for you.   Other Helpful Business Plan Articles & Templates

Business Plan Template For Small Businesses & Entrepreneurs

How to Start a Training Business in 2024 (& Succeed at It)

id you know that the global corporate training market is expected to reach $370.3 billion by 2027? It's expected to reach $370.3 billion by 2027 and will even exceed $493.32 billion by 2028! Small businesses are investing big bucks in employee training too, with an average spend of almost $1,400 per learner in 2022. With remote work becoming more prevalent and the need for continuous professional development on the rise, the demand for training services is at an all-time high. 

Spending in U.S dollars on training business

The United States dominates the corporate training market, accounting for over 30% of the global share in 2020. This presents a fantastic opportunity for anyone considering starting their own training business. For example, a tutor experienced in working with students who have learning disabilities could create a business to meet their specific needs.

You can positively impact people's lives while also making money by starting a training business. A tutor with experience working with students who have learning disabilities, for instance, could start their own training business to meet the specific needs of these students and their families.

But let's be real, starting an online training business can be daunting if you're not an entrepreneur at heart. To do it successfully, you need to take an organized approach, develop an effective marketing strategy, and intimately understand your target audience. This article is for anyone interested in starting their own training company, providing a step-by-step guide on how to start a training company. So keep reading if you want to turn your passion for teaching into a profitable career.

What is a Training Company?

A training company is a company that offers courses and programs for personal and professional growth. Education can range from purely technical to managerial. Organizations providing instruction can be for-profit or non-profit enterprises and need not be exclusively virtual to exist.Businesses in the training industry come in many forms. Still, they all commit to empowering their clients with the knowledge and experience to achieve personal growth and professional success. 

The purpose of any instructor is to positively affect their students, whether they are learning how to use a new piece of software or become better leaders.Training business is a great way to make a difference and a good living at the same time. A training business could be perfect if you enjoy seeing others develop and grow.

Why Start A Training Company?

Successful professionals and businesses rely heavily on training companies to help them develop the necessary expertise. 

Thus, training firms are well-known for tailoring courses to meet the specific needs of their clients to boost employee and business productivity.

Training firms have been shown to boost productivity, efficiency, and morale, all while keeping businesses competitive.

How Much Does it Cost to Launch a Business Program?

It is important to know the cost of starting a business training program and how to start a training business, as this will determine the scope and type of program you can offer. You can get the training in various formats, from virtual classes to in-person seminars. Private coaching services come with an associated time and material cost. Launching a more extensive program with in-person and virtual components will require more funding. The following factors can help you estimate the price of launching your business training program:

  • If you have a client or student base, how much time do you anticipate spending with them?
  • What kind of materials do you need, and how much of it?
  • Does your company already have any necessary infrastructure (like an office, necessary tools, or an online learning management system)?
  • Is a minimum amount of advertising and promotion required to bring in customers or enrollees?
  • Do you have other operating expenses (such as insurance or permits)? 

You can better understand the initial investment required for your business training program if you answer these questions. If you want your online training business to succeed, you need to put in the necessary resources, but you must also be careful to spend your resources wisely. An effective business training program does not have to break the bank with careful preparation and execution.

Benefits Of Starting An Online Training Business

As reported by the Census Bureau's Business Formation Statistics, the number of businesses formed increased by 55% from January to November of 2021. Launching a training company can bring about a wide variety of positive outcomes. Five of the most notable are listed below.

  • You can set your hours and be your boss by starting a training company. You'll have complete control over your work schedule, who you serve, and your company's direction.
  • Second, you have the power to make a difference; clients of training companies can benefit from your services in meaningful ways. You can make a difference in people's lives by assisting them in developing their abilities and knowledge.
  • The potential for financial success; if your training business is profitable, you can make a comfortable living. The business world can provide a comfortable living for those who are dedicated to their work and skilled at it.
  • You get to set your hours if you own a training company. Your working hours can be arranged as needed to accommodate personal or professional obligations.
  •  You'll have plenty of business: Training companies are in high demand, particularly in fields that place a premium on lifelong learning. That's great news for anyone hoping to launch a thriving business and find a steady stream of customers. 

Businesses' training needs will increase as the economy transitions to a knowledge-based model.

How to Create Your Own Training Company: 10 Steps to Success

Starting your own training business can be a lucrative and fulfilling profession if you have a knack for teaching and a motivation to see others succeed. Below, we take a look at how to start a training business. You need to take several important steps to ensure your business is successful.

1) Identify your niche

One must first determine their target market to launch a successful training company. Can you name some concrete abilities or areas of expertise you can impart to others? This could refer to any skill set, from writing code to promoting an event to giving speeches. Pick a market segment that interests you and has a lot of potential customers.

Think about your passion and how you like to spend your free time. In what ways can your professional and personal experiences serve as a source of insight for others? There is a high demand for training in some areas, so it's a good idea to look into market trends and employer demands to find those niches.

2) Conduct market research

The success of your training business will depend on your ability to conduct market research after you have settled on a specific niche. It is essential to know your market, your audience, and their wants, needs, and problems. Google Trends, market research, and social media are just some online resources you can use to learn more about your target audience and the market.

To get accurate results from market research, one must be thorough and impartial. Assess the areas where your rivals excel and where you can set yourself apart. Find out what drives your intended trainees and how your training can help them succeed.

3) Develop a business plan

Business plans are like road maps for your training company; they detail the company's intended direction, purpose, and objectives. A market analysis, financial forecasts, and promotional plans should also be incorporated. When starting and expanding your business, having a well-thought-out business plan will help you maintain focus and make educated choices.

There are a few things to keep in mind when writing a business plan:

  • A synopsis of your company and its aims, or executive summary.
  • Market analysis, which is an examination of your target market and its other players.
  • Your products and services should include an explanation of the training programs you offer and how they cater to the specific needs of your customer base.
  • Strategy for promoting and selling your training to a specific demographic
  • Cost and revenue forecasts for a given time frame are what we call "financial projections."

4) Decide on your pricing model

Determine who you're trying to reach and what kind of training you provide, as these factors will inform your pricing strategy. You can set your hourly rates per session or unit of study. Providing bundles or discounts for multiple purchases or referrals is another option. Establishing reasonable rates that compensate for your education and experience is crucial.

When settling on a pricing strategy, it's important to think about the following:

  • How much are they willing to spend for those who will benefit most from your training?
  • Where can I find pricing information for similar classes offered by your competitors?
  • How much are you investing in the development and presentation of your training?
  • What sets you apart as a trainer, and why should someone invest in your course?

5) Create your training materials

The training materials you create should be adapted to the specific demographic and needs of the people using them. This could be in the form of video lectures, readings, assignments, and tests. Tools and platforms like Udemy and Teachable for online courses and video conferencing programs like Zoom are just a few examples of what you can use to design and deliver your training.

Keep these guidelines in mind as you develop your training materials:

  • Maintain a minimum level of complexity: Pay attention to the most important ideas and techniques your target audience must grasp.
  • Include visuals, audio, and user interaction to pique interest in your content.
  • Offer evaluations and suggestions for improvement to aid your audience in learning.
  • Keep abreast of the latest developments: Incorporate student feedback and adapt to industry shifts by updating your materials frequently.

6) Build your online presence

In today's digital age, it is essential for any business, including training businesses, to have a robust online presence. Get the word out about your training through various online channels such as social media, your website, and others.

Here are a few suggestions for enhancing your web profile:

  • Build a website to advertise your training services and inform potential clients. Sites like Wix and Squarespace make it possible to build a functional website with a polished design and no knowledge of HTML or CSS.
  • Use social media to spread the word about your training and connect with potential clients. Sites like LinkedIn, Twitter, and Facebook are perfect for this. 
  • Using these channels, you can distribute training materials, engage with your target audience, and gain followers.
  • Use email marketing because it's cheap and easy to promote your training and stay in touch with your audience. 
  • Mailchimp and Constant Contact are two examples of email marketing platforms that can be used to create and send emails to your subscribers, including newsletters, promotions, and more.

7) Utilize technology

The use of technology in education can improve the quality of training and save time. The following are examples of useful resources:

  • Using a learning management system (LMS) such as Moodle or Canvas, you can easily organize and distribute your training materials to your students, monitor their development over time, and offer them constructive criticism.
  • Technology like Zoom or Skype video conferencing features make it easy to hold real-time training sessions and engage with students.
  • Course, authoring tools like Articulate Storyline and Adobe Captivate allow instructors to make lessons beyond simple text to engage students in a more active learning experience.
  • Tools for evaluating students' knowledge can be found online, and sites like Kahoot and Quizlet are examples of such platforms.

8) Launch your training

You can now begin offering training after creating your training materials, establishing your pricing structure, and establishing your online presence. You can provide initial sessions at no or low cost to get the ball rolling and get people talking. Additionally, you can inquire within your social circle for recommendations and feedback.

As you roll out your training, be flexible and open to change in response to student feedback. This will aid you in maintaining your dedication to offering first-rate instruction tailored to your specific audience's needs.

9) Provide ongoing support and resources

Giving students access to resources and support after they've completed their training is essential. This can keep them interested and enthusiastic about the training and reinforce its value.

Some examples of ongoing assistance and material support are:

  • Social media groups, forums, and chat rooms can foster a sense of community among your students, allowing them to connect and share their experiences and knowledge.
  • If you want your students to continue learning after your training ends, you can provide additional training materials, reading lists, and other resources.
  • To ensure that your students can apply the skills and knowledge they acquire in your training to their unique situations, consider offering coaching or mentoring services on an ongoing basis.

10) Measure and improve your training

Last but not least, ensuring your training is constantly evaluated and enhanced is crucial to the success of your training business. Tools like surveys, feedback forms, and analytics can help you measure the success of your training and make adjustments based on student feedback.

For better training results, you can track and enhance the following areas:

  • Happy students: How happy are your trainees with their training? Do you know what you could do to make them happier?
  • Is there evidence that your trainees have retained and can use the information and skills you've taught them? What can you do to improve their educational outcomes?
  • Are you getting a good return on investment (ROI) from your training for your company and your employees? Is there a way to maximize the return on investment for your training?

4 Core Tools to Help You Start a Training Business

#1 educateme.

EducateMe - Core Tools to Help You Start a Training Business

EducateMe's straightforward interface is a great resource for anyone considering launching an online training enterprise. 

Whether it's live video instruction, boot camps, or full-fledged courses, this platform has you covered with fully automated features that maximize student potential. 

Educators have simple access to real-time lesson monitoring and rich analytic data in every training session. 

EducateME's email and automated feedback features make exchanging information easy for students and teachers. Users of this platform can also customize and access it on any device, made possible by EducateMe's flexible design.

Axonify - Core Tools to Help You Start a Training Business

This platform creates a unique approach to learning called “brain science-backed gamification”.. Axionify is a cloud-based microlearning platform with gamification features. 

This system caters instruction to learners' preferences and strengths through bite-sized learning modules. 

The Axionify platform has many features to increase employee participation, such as leaderboards, badges, and other gamified elements that promote healthy competition and socialization among workers. Companies can monitor employee development and pinpoint areas where they may need additional training, thanks to the analytics features of the platform.

With its innovative approach to education, intuitive interface, and cutting-edge analytics features, Axionify is an invaluable tool for any business that wants to foster a culture of lifelong learning and development.

#3 Path LMS

Path LMS - Core Tools to Help You Start a Training Business

Path LMS is a product of Blue Sky eLearn, and serves as an online learning management system. Organizations can use it to facilitate online educational content development, distribution, and administration. The Path LMS is an all-encompassing platform for designing and delivering interactive online courses, tracking the development of individual students, and analyzing the results of training initiatives.

The Path Learning Management System's features and capabilities include the following:

  • Course creation using multiple media types like video, audio, text, and images.
  • Content management.
  • Learner management.
  • Reporting and analytics.
  • Integrations with a wide range of third-party applications like Zoom.

Docebo - Core Tools to Help You Start a Training Business

Docebo is a cloud-based LMS that facilitates the development and distribution of educational content for online users. In addition to tools for making courses, the platform includes a catalog of available courses, a way to enroll students, monitor their progress, generate reports, and connect with third-party programs.

Because of its flexible design and extensive customization options, Docebo can be easily adapted to meet the needs of any business and reflect its brand image. In addition, it supports mobile use so that it can be accessed from anywhere and used for learning..

In conclusion, it can take time to grasp the essentials on how to start a training business. You can start a profitable and satisfying training business if you dedicate time and energy to defining your target audience, researching the market, writing a business plan, settling on a pricing structure, developing training materials, establishing your online presence, and releasing your training.

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></center></p><h2>How to Start an Online Education and Training Business?</h2><p>eLearning is the first foray into online education. Invented in 1998, eLearning is 22 years old! Online learning has increased in popularity in recent years to become one of the biggest trends in education.</p><p>Through its innovative technologies and flexible delivery, online learning (also referred to as remote learning) has provided an effective alternative learning option that eliminates the need to be physically in a classroom.  </p><p>With the drastic changes in the concept of traditional education in the last few years, many people are now seizing the   opportunity to start an online education and training business .</p><p>Thanks to advancements in technology and the availability of great learning platforms like Instancy.com, anyone can grab a piece of this lucrative pie.  </p><h2>Benefits of Starting an Online Training and Education Business</h2><p>If you are wondering why an online training business is a great idea and why you should start yours, here are five benefits you should consider.  </p><h2>1. Demand is high  </h2><p>There’s a spike in demand. The online training sector’s projected growth in the US alone is $15.86 billion for 2021. It is no longer considered a fad – it is mainstream across all educational institutions and corporations. Learners are seeking access to quality knowledge content outside of work and school.  </p><h2>2. Minimal setup costs  </h2><p>Unlike setting up a brick-and-mortar school, you don’t need to spend a fortune to start your online education business. The business model doesn’t require expensive equipment, a fleet of vehicles, rent for premises, utility bills, insurance, and other expenses. Setting up and operating your online training business is super-easy and cost-friendly. There are useful cloud-based apps like Instancy that allow you to set up your business in minutes within your desired budget so you can break even and start turning a profit in no time.  </p><h2>3. Convenience  </h2><p>One of the alluring attractions to starting an online training and education business is that it allows you to work from home. There is no need to go in to work daily. You can design and develop courses from anywhere, anytime, and on your schedule.</p><p>The convenience drills down to your students as well. Flexibility is key to maintaining a work-life balance during 2020, and this business model is ripe with opportunities.  Research shows a 25-60% retention rate for online learning.  </p><h2>4. Flexible work hours  </h2><p>Starting an online education and training business makes it possible for you to earn while working around your schedule. Whether running an online training business full-time or part-time, you can adjust your work-life balance accordingly. Very few businesses give you control of the hours you work like this one.  </p><h2>5. Technology  </h2><p>The recent advancements in technology have made it possible for online instructors to achieve the same results traditional instructors do. We have plenty of online educational tools and apps, such as Instancy, to make the process easier and hassle-free. </p><p>Technology enhances learning since you can easily send educational materials to students in various formats such as videos, pictures, audio podcasts, etc., allowing for higher engagement levels.  </p><h2>How to Start an Online Training Business? </h2><p>The first step in the process is to make up your mind to start an online training and education business. Once you decide to move forward, you can begin the setup process.  </p><h2>1. Choose your niche: </h2><p>The first thing to do is to consider your expertise. Because of the interest and demand in online education and training, many topic areas have brisk sales. Some topics are academic, some are corporate, and some are for the general population. Do you want to cater to a specific demographic, such as children? Take ample time to research your niche; otherwise, you may offer a course with no takers! </p><h2>2. Check out the competition  </h2><p>When considering an online learning business, competition is good. Rarely do you want to be the first to market. It is a good idea to perform a comprehensive study of the marketplace. Research to learn about the services competitors offer and their rates. Look for any gaps in products or services as those gaps may be an area where you will stand out.  </p><h2>3. Decide how you are going to provide your services  </h2><p>Do you plan to offer your education products nationally or globally? Some businesses also decide to target the local market only. The choice is yours!</p><p>Do you want to provide a blended learning experience where students access different learning modalities, such as self-paced eLearning?  Is instruction completely remote, or should students expect to spend some time in a physical classroom? Because of the pandemic, most online education businesses now prefer blended learning; i.e., you need to deliver virtual classrooms for one or more users/learners. You need to provide digital content in various formats, including video, online quizzes, audio podcasts, discussion forums, chat, and more.  </p><h2>4. Decide a consistent fee scale  </h2><p>Deciding how much to charge is probably the most challenging part of the planning process. Be objective and try to determine competitive price points. Also, consider the actual value of your course. What are students paying for similar classes? Charge too much, and you will get fewer sales. Charge too little, and you are leaving money on the table. Let’s look at one example.  </p><p>At the moment, you have two types of pricing. You sell your courses, quantity one, or ala carte. The alternative is to sell a recurring membership subscription to a course or content library.  </p><p>The membership subscription will be more profitable long term because this is a recurring fee!  </p><h2>5. Choose a name  </h2><p>Next, pick a name for your business. Your choice of a name matters as it is part of your brand, so consider choosing a name that sets your services apart and Google it to ensure that it’s available. It might also help to ask other people’s opinions on a name.  </p><h2>6. Deal with the financial and legal issues  </h2><p>Remember that starting an online education business is more than just a way to earn an income. It is a business, and you will have to file for the appropriate small business license in your state. Consider speaking to a small business lawyer to find out about the best way for you to file.  </p><h2>7. Gather the tools you need for business  </h2><p>If you’re starting an online business, you need to ensure that you are well-equipped to provide your students’ quality services. It’s also essential to choose a suitable online learning platform. Instancy is an excellent platform to consider.  </p><h2>Why choose Instancy as your training and education business learning platform?</h2><p>Instancy Learning Platform and Learning Experience Platform is a powerful yet simple-to-use framework that includes five integrated products you may also deploy in a modular way as required: </p><p>1.  Instancy Learning Management System (iLMS)</p><p>2.  Instancy Learning Content Management System (iLCMS) and Authoring Tools</p><p>3.  Instancy Mobile Learning Apps Platform for iPhone, iPod Touch, iPad, Android Phones and Tablets</p><p>4.  Instancy Learning Record Store (iLRS)</p><p>5.  eCommerce and Catalog Management</p><p>The Instancy software-as-a-service platform may be deployed as a branded online learning portal.</p><p>Instancy’s multi-tenant architecture enables learning organizations to create multiple sites for = training business clients and reseller partners.  </p><h2>Instancy Learning Management System (iLMS)</h2><p>Instancy’s iLMS  lets you plan, manage, deliver, and evaluate personalized and blended learning programs. Whether you’re working with eLearning, classroom training, webinars, video tutorials, or informal learning, Instancy’s system gives you the ease, flexibility, automation, and capabilities you need.  </p><p>Key Features:  </p><p>1.  Design your learning portal and sub-portals the way you want</p><p>2.  Deliver eLearning, blended learning, assessments, and performance support</p><p>3.  Manage the calendar of events and classroom training</p><p>4.  Deliver and manage virtual classroom training</p><p>5.  Engage your learners with social learning and provide the ability for knowledge collaboration</p><p>6.  Manage skill-competency based learning</p><p>7.  Manage learning assignments, reports, and analytics</p><p>8.  Deliver and track Experience API (xAPI), SCORM, and AICC (eLearning standards) course packages</p><p>9.  Leverage Instancy’s Application Programming Interface (API) to create a seamless workflow between iLMS and other applications. Related Read:  11 REASONS WHY OPTING FOR AN LMS IS A SMART DECISION FOR YOUR ORGANIZATION</p><h2>Instancy Learning Content Management System (iLCMS) and Authoring Tools</h2><p>Speed up content production for eLearning and instructor-led courseware with reusable learning objects to enhance learning effectiveness and reduce training project costs with our robust framework.</p><p>Instancy Learning Content Management System  (iLCMS) offers collaborative content publishing workflows that allow you to coordinate the tasks of multiple contributors and reviewers across the content supply chain.</p><p>Manage content submissions from numerous sources, expedite updates, and ensure the right individuals’ published content routes in the proper format. </p><p>1.  Manage your source content in a single repository and update as needed in Instancy’s Learning Object Repository (iLOR).</p><p>2.  Create powerful eLearning content rapidly and cost-effectively with Instancy’s web-based eLearning Authoring Suite.</p><p>3.  Multiuser and collaborative author and reviewer workflows Effortlessly convert your MS-Word documents into engaging eLearning content using Instancy MS-Word storyboard to the eLearning conversion tool</p><p>4.  Convert your existing MS-PowerPoint presentations into engaging eLearning content using Instancy MS-PowerPoint to the eLearning conversion tool</p><p>5.  Create online assessments and surveys</p><p>6.  Sequencing rules to personalize content delivery</p><p>7.  Automate the complete workflow for creating, delivering, and managing test preparations</p><p>8.  Training event management and blended learning</p><p>9.  eLearning standards (SCORM, AICC, xAPI) support</p><p>10 . Media resource management</p><p>11.  Multi-language support to localize learning content</p><h2>Instancy Mobile Learning Apps for Your Training & Education Business</h2><p>Empower your customers. Deliver learning and on mobile platforms.  </p><p>Instancy Mobile Learning App Platform™  enables you to create, manage, and deliver mobile learning to multiple mobile devices from within one integrated Learning Management System (LMS). </p><p>Key Features:</p><p>1.  Mobile learning management system</p><p>2.  Distribute learning content on native apps (iOS and Android)</p><p>3.  Design wizard to configure the native apps</p><p>4.  Create and deliver mobile learning content</p><p>5.  Event management and registration workflows</p><p>6.  Quizzes & assessments</p><p>7.  Online surveys</p><p>8.  Document sharing</p><p>9.  Create audio and video content library</p><p>10.  Enable your learners to purchase from their mobile device</p><p>11.  User management</p><p>12.  Reports & analytics on learning progress</p><p>13.  Access content and assignments offline</p><p>14. Track offline and synch learner experience and progress using experience API (xAPI) within Instancy native learning apps</p><h2>eCommerce and Catalog Management</h2><p>Merchandize your training and educational offerings and digital content through various eCommerce and payment options.  Instancy eCommerce management system  integrates with multiple payment gateways, including PayPal, Stripe, and Authorize.Net, and comes with an integrated shopping cart interface. </p><p>1.  Create a catalog of training and education resources</p><p>2.  Manage eCommerce transactions for eLearning courses, virtual classrooms, video, online assessments, exam preparation packages, learning tracks/packages, shippable products, and more</p><p>3.  Enable classroom and training event registration and payments</p><p>4.  Enable eCommerce based recurring payments or membership subscriptions</p><p>5.  Enable multiple offline payments and approval workflows Support discounts and coupons</p><p>6.  Email notifications to end-users and administrators Monthly sales reports</p><p>7.  Integrate your catalog listing with your web site, including single single-on</p><h2>Instancy Learning Record Store (iLRS) and Experience API Integration</h2><p>The  Instancy Learning Record Store  (iLRS) is a cloud-based web application that receives and stores real-time learning activity statements generated by the Experience API, whether that content or applications are inside or outside the Instancy Platform. </p><p>The Experience API and Instancy LRS allow you to track learning activities anywhere and everywhere – web browsers, mobile apps, simulations, performance support, social learning, business applications, and more. You can follow any action, store the information into Instancy LRS, and generate meaningful reports. </p><p>1.  Repository of learning activities ranging from formal eLearning courses, performance support, training simulations, and games to informal learning activities such as learner-generated content, learning sharing, and online discussions</p><p>2.  Learning analytics, dashboards, and reports across all learning activities, including assignments, course progress, completion, assessment, surveys, and certifications</p><p>3.  Out-of-box integration with Instancy Learning Management System (iLMS) and Instancy Learning Content Management System (iLCMS)</p><p>4.  Receive xAPI data from external sources and OAuth integration</p><p>Find out more about the Instancy Learning Platform with a demo and free trial by clicking  https://www.instancy.com/schedule-meeting.html.   You’ll be amazed at the ease with which you get up and running. The Instancy Support Team is here for you – we want you to succeed.  </p><h2>Your learning business is unique. We configure the right learning platform solution that fits you like a glove.</h2><p>About the author, harvey singh, instancy social learning network:, start learning.</p><p>Learning Provider Solutions </p><p>Trainers & Coaches</p><p>Training Business</p><p>Trade Association</p><p>Higher Education Institution</p><p>K-12 Education Institution</p><p>Customer Education</p><p>Channel Partner Training</p><p>Sales Training and Enablement</p><p>Customer Service Training</p><p>Employee Training and Development</p><p>Employee Onboarding</p><p>Compliance Training</p><h2>Sign Up for Newsletter</h2><p>To Get The Latest Updates Directly To Your Mailbox!</p><p>Invalid value</p><p>Chart Learning Learn on Demand Talent Quest eLearning Health & Wellness</p><p>Reseller Contact Us Terms of Use Privacy Policy</p><p>  Toll Free: +1-877-548-3360</p><p>info@instancy.com</p><p>© 2023 Instancy Inc. All Rights Reserved.</p><p>An official website of the United States government</p><p>Here’s how you know</p><p>Official websites use .gov A .gov website belongs to an official government organization in the United States.</p><p>Secure .gov websites use HTTPS A lock ( Lock A locked padlock ) or https:// means you’ve safely connected to the .gov website. Share sensitive information only on official, secure websites.</p><h2>Write your business plan</h2><p>Business plans help you run your business.</p><p>A good business plan guides you through each stage of starting and managing your business. You’ll use your business plan as a roadmap for how to structure, run, and grow your new business. It’s a way to think through the key elements of your business.</p><p>Business plans can help you get funding or bring on new business partners. Investors want to feel confident they’ll see a return on their investment. Your business plan is the tool you’ll use to convince people that working with you — or investing in your company — is a smart choice.</p><h2>Pick a business plan format that works for you</h2><p>There’s no right or wrong way to write a business plan. What’s important is that your plan meets your needs.</p><p>Most business plans fall into one of two common categories: traditional or lean startup.</p><p>Traditional business plans are more common, use a standard structure, and encourage you to go into detail in each section. They tend to require more work upfront and can be dozens of pages long.</p><p>Lean startup business plans are less common but still use a standard structure. They focus on summarizing only the most important points of the key elements of your plan. They can take as little as one hour to make and are typically only one page.</p><h2>Traditional business plan</h2><p><center><img style=

Lean startup plan

A lean business plan is quicker but high-level

Traditional business plan format

You might prefer a traditional business plan format if you’re very detail-oriented, want a comprehensive plan, or plan to request financing from traditional sources.

When you write your business plan, you don’t have to stick to the exact business plan outline. Instead, use the sections that make the most sense for your business and your needs. Traditional business plans use some combination of these nine sections.

Executive summary

Briefly tell your reader what your company is and why it will be successful. Include your mission statement, your product or service, and basic information about your company’s leadership team, employees, and location. You should also include financial information and high-level growth plans if you plan to ask for financing.

Company description

Use your company description to provide detailed information about your company. Go into detail about the problems your business solves. Be specific, and list out the consumers, organization, or businesses your company plans to serve.

Explain the competitive advantages that will make your business a success. Are there experts on your team? Have you found the perfect location for your store? Your company description is the place to boast about your strengths.

Market analysis

You'll need a good understanding of your industry outlook and target market. Competitive research will show you what other businesses are doing and what their strengths are. In your market research, look for trends and themes. What do successful competitors do? Why does it work? Can you do it better? Now's the time to answer these questions.

Organization and management

Tell your reader how your company will be structured and who will run it.

Describe the  legal structure  of your business. State whether you have or intend to incorporate your business as a C or an S corporation, form a general or limited partnership, or if you're a sole proprietor or limited liability company (LLC).

Use an organizational chart to lay out who's in charge of what in your company. Show how each person's unique experience will contribute to the success of your venture. Consider including resumes and CVs of key members of your team.

Service or product line

Describe what you sell or what service you offer. Explain how it benefits your customers and what the product lifecycle looks like. Share your plans for intellectual property, like copyright or patent filings. If you're doing  research and development  for your service or product, explain it in detail.

Marketing and sales

There's no single way to approach a marketing strategy. Your strategy should evolve and change to fit your unique needs.

Your goal in this section is to describe how you'll attract and retain customers. You'll also describe how a sale will actually happen. You'll refer to this section later when you make financial projections, so make sure to thoroughly describe your complete marketing and sales strategies.

Funding request

If you're asking for funding, this is where you'll outline your funding requirements. Your goal is to clearly explain how much funding you’ll need over the next five years and what you'll use it for.

Specify whether you want debt or equity, the terms you'd like applied, and the length of time your request will cover. Give a detailed description of how you'll use your funds. Specify if you need funds to buy equipment or materials, pay salaries, or cover specific bills until revenue increases. Always include a description of your future strategic financial plans, like paying off debt or selling your business.

Financial projections

Supplement your funding request with financial projections. Your goal is to convince the reader that your business is stable and will be a financial success.

If your business is already established, include income statements, balance sheets, and cash flow statements for the last three to five years. If you have other collateral you could put against a loan, make sure to list it now.

Provide a prospective financial outlook for the next five years. Include forecasted income statements, balance sheets, cash flow statements, and capital expenditure budgets. For the first year, be even more specific and use quarterly — or even monthly — projections. Make sure to clearly explain your projections, and match them to your funding requests.

This is a great place to use graphs and charts to tell the financial story of your business.  

Use your appendix to provide supporting documents or other materials were specially requested. Common items to include are credit histories, resumes, product pictures, letters of reference, licenses, permits, patents, legal documents, and other contracts.

Example traditional business plans

Before you write your business plan, read the following example business plans written by fictional business owners. Rebecca owns a consulting firm, and Andrew owns a toy company.

Lean startup format

You might prefer a lean startup format if you want to explain or start your business quickly, your business is relatively simple, or you plan to regularly change and refine your business plan.

Lean startup formats are charts that use only a handful of elements to describe your company’s value proposition, infrastructure, customers, and finances. They’re useful for visualizing tradeoffs and fundamental facts about your company.

There are different ways to develop a lean startup template. You can search the web to find free templates to build your business plan. We discuss nine components of a model business plan here:

Key partnerships

Note the other businesses or services you’ll work with to run your business. Think about suppliers, manufacturers, subcontractors, and similar strategic partners.

Key activities

List the ways your business will gain a competitive advantage. Highlight things like selling direct to consumers, or using technology to tap into the sharing economy.

Key resources

List any resource you’ll leverage to create value for your customer. Your most important assets could include staff, capital, or intellectual property. Don’t forget to leverage business resources that might be available to  women ,  veterans ,  Native Americans , and  HUBZone businesses .

Value proposition

Make a clear and compelling statement about the unique value your company brings to the market.

Customer relationships

Describe how customers will interact with your business. Is it automated or personal? In person or online? Think through the customer experience from start to finish.

Customer segments

Be specific when you name your target market. Your business won’t be for everybody, so it’s important to have a clear sense of whom your business will serve.

List the most important ways you’ll talk to your customers. Most businesses use a mix of channels and optimize them over time.

Cost structure

Will your company focus on reducing cost or maximizing value? Define your strategy, then list the most significant costs you’ll face pursuing it.

Revenue streams

Explain how your company will actually make money. Some examples are direct sales, memberships fees, and selling advertising space. If your company has multiple revenue streams, list them all.

Example lean business plan

Before you write your business plan, read this example business plan written by a fictional business owner, Andrew, who owns a toy company.

Need help? Get free business counseling

Sample Personal & Corporate Training Center Business Plan

Personal training business plan pdf sample.

Are you truly ready to start a private training company?

The global economy is not going smoothly in recent times. As such, many entrepreneurs begin to think of starting a training company, where they will train out professionals thereby creating their own business.

Are you among those solution seeking entrepreneurs that want to start a corporate training company of your own? I wouldn’t let you answer that, because landing on this page shows that you desire to start your own training company.

And you know what? I give you kudos, I love to see where thirsty solution seeking entrepreneurs tries to come out with solutions to the problems faced by the masses with courage and determination. So you’ve done a great job already by thinking of this.

And one good thing about starting a training company business is that you don’t have to pay any fee to conduct your trainings, instead your client pays for all expenses.

But also starting a training company is not a bed of roses, the journey is not always easy. It is challenging and painstaking to start a training company and many who venture to start a training company often ignore the most important aspect of starting a training company and as a result they pay greatly for the omissions.

But good news for you. As long as you have arrived on this article, I assure you that you’ll find tips on how to start your own training company, reduce your risk of failure and ensure your success rate.

Tips for a Successful Training Company

  • Get Your Credentials

Before you start a training company, there is one thing you need to prioritize. And that is getting the right credentials

Why is this necessary? When you get credentials, it shows the knowledge or validation that proves you know more about what you are training than others.

  • Capitalize Your Training Company

Hey! I hope you didn’t forget the fact that you need capital to start your training company. No business comes up without a capital, because this is like rule number one. Just keep a proper amount of cash to make it through the hurdle of good flow of cash management.

  • Reduce Non-Binding Partnerships

An entrepreneur life can sometimes be a lonely existence; this could especially be so if he/she have not attracted any customer or even hire an employee yet. So, it just natural for this ones to seek relationship with others who are also in same field of services, this will help them feel that they are not in the business alone.

But note this, just as this relationship could be great and nice, there can become distraction for you if they are not binding partnership. So when making relationships, it should be based on growing your business.

  • Speak Same Language with Your Customers

There is a common trend amongst those who start a training company. Do you know what is that? Alright let me tell you. The trend is that they enter the training business speaking with an industry based language, maybe to impress their customers.

But this is wrong. You should remember that your clients do not fully understand the field well, so if you wish to reach them, you need to speak in the language your customers understand.

  • Network with The Right People

You’ll hear people tell or advice that you should market your company to as many people as possible. Well, let me say this, in as much as they are partly right, I don’t fully agree. You need to network with only the RIGHT people who will grow your business.

  • Publish More

Now, you need clients for your training company right? Good, you need to have in mind that your potential clients of your training products do make researches using the internet search engines to look for things they need.

Make yourself available and let them know that you’re an expert in the field by publishing articles of anything that document your expertise in the field.

  • Express Your Value

When you start creating products, you need to state clearly the value of your product to a client. When this is done, a client will know why you are special and eventually buys from you.

  • Specify Your Offerings and Products

This is where most training startups fail before even starting. Since its a new company, they often promise the customers that they can do anything.

This is a “Jack of all trade, master of none” mentality. It’s wrong! Be specific, clients buy specific services. So model your product or service and graphically show it.

  • Commitment, Commitment, Commitment

As an aspiring successful training entrepreneur, your success begins with yourself. Why do I say this?

When you are fully committed to your training business, I assure you that you’ll grow your training company into a Successful one in no time. Congrats to you in advance.

Starting a Corporate Training Company Step by Step

Are you thinking of starting a corporate training business? Do you desire to teach people about the skills you know?

Are there individuals whom you think will love to learn the skills? If your answer to those three questions is Yes, then you should consider to a start a corporate training business with the skills you have and see people running to learn from you.

Corporate training is a useful tool for business as most companies need corporate training programs to ensure that their employees are up to date with the latest features and resources to move the companies forward.

You may start thinking how possible it is to start a corporate training business and actually get people running to you to learn from your corporate programs when there are lots and lots of companies that deal on corporate training.

Yes, it is very possible. Why do I say so? This should be noted about corporate training business companies, as a company, they will charge higher in training. This they do to cover their expenses too, expenses like tax payments, utility bills etc. So for this reasons, they charge high, and for that fact that they do charge higher, not all who interested on the skills will finally learn them.

Now, how is this beneficial to you as a prospective corporate business trainer? Do you know You can start your own corporate training business from the comfort of your home? Yes! With just your computer and a smartphone with an internet connection, you can train hundreds, and even thousands of individual.

And since this is done from the comfort of your home, you don’t have much bills to care for. And for this reason, you can capitalize on the high price of those companies for corporate training and charge yours cheaper. By so doing, you stand a chance of getting people come to you to learn from you.

But one thing to note is that before you start your own corporate training business, you must have master yourself with the skill(s) you wish to train people on.

So, after knowing about the above, you may start thinking what and what are needed to run your own corporate training business successfully.

For that reason, I’ll be showing you some steps to take and kick-start your corporate training business.

  • Choose an Area of Concentration

This is not the time to start training people on every skill. No! You don’t have to do that. Why? because when you train on every skill, people will not consider your business a serious one.

Remember this popular line, “Jack of all trades, master of none”. I believe you will not want people to view your business that way, so you have to be specific with the type of skill you will be training people on so that people can easily identify your business.

  • Experience and Certifications

After you have chosen an area of concentration for your corporate training business, what you should do next is to acquire more experience in the desired skill you wish to train on. Not just experience, but if possible also get a certification that you are a professional on the known skill.

Why is this important? It is important because nobody wants to be taught by someone who does not have a level of professionalism in the skill he wants to teach others. So, by gaining experience and Certifications, you will attract more clients.

  • Draft Out a Corporate Training Business Plan

Is there anyone who started something without first planning about it? There is no successful business without a plan, so you should draft out your plan – your corporate training business plan. This plan will help keep track of your business, because it will include: How you will get clients, how are you going to sell your business modules, and also, what you hope for the business.

  • Business Registration

This is another area one need to put into consideration. Considering the fact that your business is a corporate training business and at such, you will be dealing with corporate clients, something need to be done. What is that?

Registration of your business is very crucial, and when choosing a business name for registration, the name should depict what the business is all about. When clients see and noticed that the business is a registered one, it boosts their interest to come and learn from you.

  • Buy or Rent an Office Space

Yes, like I said earlier, you can do this type of business from the comfort of your home. So why is it necessary to buy or rent an office space when you can do your business at home. Now let me make this very clear to you. There are some clients who will not like to do business with you, when they know that you work from home.

So, you can reduce or avoid that by getting a space for your business. But what if you don’t have enough cash to buy or rent an office space? You can help yourself and join up and share an office space with someone.

  • Marketing and Promoting your Business

After going through all of that, another step is marketing and promoting your corporate training business.

There are many ways to market this business, you will have to know who you will be training, and how you can reach them. You can also create a webpage or a website to sell your training programs. So with the above, you can now start your own corporate training business with ease, as I have covered it all.

ONLINE PERSONAL TRAINING BUSINESS PLAN EXAMPLE

Here is a sample business plan for starting a training business.

Business Name:  Christopher Lawson Personal Training Centre

  • Executive Summary
  • Business Description
  • Our Products and Services
  • Vision Statement
  • Mission Statement
  • Business Structure
  • Market Analysis
  • Sales and Marketing Strategy
  • Financial Plan
  • Competitive Advantage

EXECUTIVE SUMMARY

Personal training is a business that has been in existence right from the early days of human civilization. This is a business that thrives really well considering the fact that anybody can afford it and personal training can be done for various aspects of life.

The basic importance of personal training is to help people grow or develop one skill or the other whether technical or soft to increase their productivity. The business is a very broad one because there are so many skills people might be interested in acquiring, some of such skills are: writing skills, financial management skills, business etiquettes, dance steps, public speaking skills, and so on.

BUSINESS DESCRIPTION

Christopher Lawson Personal Training Centre is a registered and licensed business for that is owned Christopher Lawson. The Centre will be located in Los Angeles, California and we are aiming to become the best personal training center in Los Angeles and in achieving this, a facility has been secured at a very good location.

OUR PRODUCTS AND SERVICES

Christopher Lawson Personal Training Centre will operate a well licensed business that is after satisfying its clients by offering varieties of services which are:

  • Leadership skills
  • Writing skills
  • Management skills
  • Financial management skills
  • Business etiquettes
  • Customer service skills
  • Public speaking skills
  • Interpersonal skills
  • Online coaching services

VISION STATEMENT

The vision of Christopher Lawson Personal Training Centre is to establish a highly effective and competitive business that will be the number one stop and choice for everyone in Los Angeles and California at large.

MISSION STATEMENT

Our mission is to provide very effective and highly professional personal training to a wide range of customers. Our main goal is to become the leading personal training business in the industry within the first four years of operation.

BUSINESS STRUCTURE

In ensuring the success and growth of the business, we have decided to hire competent, honest, and hardworking people to occupy the following positions:

  • Chief Executive Officer
  • Centre Administrator
  • Personal trainers for different skills
  • Customer Service Officer

MARKET ANALYSIS Market Trend

We all know that the personal training industry is not a new industry, it has been in existence for a while now and for us to be successful and be ahead of competitors in the industry, we need to acquire as many certifications as we can and also testimonies from our students who had a very huge experience.

The influence of technology is another major trend in the industry, technology helps generate more income. We can also train students who are kilometers away from us with the help of technology using tools like Skype, Webcast, YouTube and so on.

Our Target Market

Christopher Lawson Personal Training Centre will be situated at Los Angeles, California offering services to the residents and even those who are far away with the help of technology. The business will be focusing on training of soft skills that will help improve capability, productivity, and efficiency. Some of the people that we will be targeting for the personal training are:

  • Public figures/celebrities
  • Business People
  • Corporate Executives
  • Government Officials
  • College Students
  • Sports Men and Women

SALES AND MARKETING STRATEGY

In ensuring that we get to the top of the industry and succeed, we have decided to adopt some techniques which will also help in ensuring profitable sales. These techniques are:

  • Giving discounts to our first set of customers and regular customers.
  • Having a one on one relationship with our customers with the aid of CRM software.
  • Offering quality and reliable services to our customers.
  • Sponsoring relevant programs in the immediate community where the business is located.
  • Advertising the business on both print, electronic and online media.
  • Having an official website where regular advertisement is done.

FINANCIAL PLAN

The business has gotten 65% of the startup capital which is $150,000 and we are looking to get the remaining 35% from personal savings and from banks as loan.

COMPETITIVE ADVANTAGE

We are well aware of the high level of competition in the industry and we have decided to soar high above the competition by offering constant quality service that brings about remarkable improvement in the customers and also meet all their expectations.

Also, we have decided to hire people who are professionals, experts, and qualified personal trainers who are able to build soft skills within few days. This will also serve as a competitive advantage for us.

This is  a personal trainer business plan sample that can help and serve as a guide in writing your own business plan. This is a personal training business owned by Christopher Lawson.

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How to write a business plan for a training center?

training center business plan

Writing a business plan for a training center can be an intimidating task, especially for those just starting.

This in-depth guide is designed to help entrepreneurs like you understand how to create a comprehensive business plan so that you can approach the exercise with method and confidence.

We'll cover: why writing a training center business plan is so important - both when starting up, and when running and growing the business - what information you need to include in your plan, how it should be structured, and what tools you can use to get the job done efficiently.

Let's get started!

In this guide:

Why write a business plan for a training center?

What information is needed to create a business plan for a training center.

  • What goes in the financial forecast for a training center?
  • What goes in the written part of a training center business plan?
  • What tool can I use to write my training center business plan?

Being clear on the scope and goals of the document will make it easier to understand its structure and content. So before diving into the actual content of the plan, let's have a quick look at the main reasons why you would want to write a training center business plan in the first place.

To have a clear roadmap to grow the business

It's rarely business as usual for small businesses. The economy follows cycles where years of growth are followed by recessions, and the business environment is always changing with new technologies, new regulations, new competitors, and new consumer behaviours appearing all the time...

In this context, running a business without a clear roadmap is like driving blindfolded: it's dangerous at best. That's why writing a business plan for a training center is essential to create successful and sustainable businesses.

To write an effective business plan, you will need to take stock of where you are (if you are already in business) and where you want the business to go in the next three to five years.

Once you know where you want your training center to be, you'll have to identify:

  • what resources (human, equipment, and capital) are needed to get there,
  • at what pace the business needs to progress to get there in time,
  • and what risks you'll face along the way.

Going through this process regularly is beneficial, both for startups and existing companies, as it helps make informed decisions about how best to allocate resources to ensure the long-term success of the business.

To anticipate future cash flows

Regularly comparing your actual financial performance to the projections in the financial forecast of your training center's business plan gives you the ability to monitor your business's financial health and make necessary adjustments as needed.

This practice allows you to detect potential financial issues, such as unexpected cash shortfalls before they escalate into major problems. Giving you time to find additional financing or put in place corrective measures.

Additionally, it helps you identify growth opportunities, like excess cash flow that could be allocated to launch new products and services or expand into new markets.

Staying on track with these regular comparisons enables you to make well-informed decisions about the amount of financing your business might require, or the excess cash flow you can expect to generate from your main business activities.

To secure financing

Crafting a comprehensive business plan for your training center, whether you're starting up or already established, is paramount when you're seeking financing from banks or investors.

Given how fragile small businesses are, financiers will want to ensure that you have a clear roadmap in place as well as command and control of your future cash flows before entertaining the idea of funding you.

For banks, the information in your business plan will be used to assess your borrowing capacity - which is defined as the maximum amount of debt your business can afford alongside your ability to repay the loan. This evaluation helps them decide whether to extend credit to your business and under what terms (interest rate, duration, repayment options, collateral, etc.).

Similarly, investors will thoroughly review your plan to determine if their investment can yield an attractive return. They'll be looking for evidence that your training center has the potential for healthy growth, profitability, and consistent cash flow generation over time.

Now that you understand the importance of creating a business plan for your training center, let's delve into the necessary information needed to craft an effective plan.

Writing a training center business plan requires research so that you can project sales, investments and cost accurately in your financial forecast.

In this section, we cover three key pieces of information you should gather before drafting your business plan!

Carrying out market research for a training center

Carrying out market research before writing a business plan for a training center is essential to ensure that the financial projections are accurate and realistic.

Market research helps you gain insight into your target customer base, competitors, pricing strategies and other key factors which can have an impact on the commercial success of your business.

In particular, it is useful in forecasting revenue as it provides valuable data regarding potential customers’ spending habits and preferences.

You may discover that your training center could benefit from offering more remote courses, as people may be more likely to take classes from the comfort of their own homes. Additionally, market research might indicate that people might be more likely to take classes that are shorter in duration, as they may prefer a quick and effective way of learning.

This information can then be used to create more accurate financial projections which will help investors make informed decisions about investing in your training center.

Developing the sales and marketing plan for a training center

As you embark on creating your training center business plan, it is crucial to budget sales and marketing expenses beforehand.

A well-defined sales and marketing plan should include precise projections of the actions required to acquire and retain customers. It will also outline the necessary workforce to execute these initiatives and the budget required for promotions, advertising, and other marketing efforts.

This approach ensures that the appropriate amount of resources is allocated to these activities, aligning with the sales and growth objectives outlined in your business plan.

The staffing and equipment needs of a training center

As you embark on starting or expanding your training center, having a clear plan for recruitment and capital expenditures (investment in equipment and real estate) is essential for ensuring your business's success.

Both the recruitment and investment plans must align with the timing and level of growth projected in your forecast, and they require appropriate funding.

The staffing costs for a training center might include wages for instructors, administrative staff, and support personnel such as janitors and IT staff. The equipment costs might include computers, projectors, and other audiovisual equipment, as well as furniture, office supplies, and other items needed to run the training center.

To create a realistic financial forecast, you also need to consider other operating expenses associated with the day-to-day running of your business, such as insurance and bookkeeping.

With all the necessary information at hand, you are ready to begin crafting your business plan and developing your financial forecast.

What goes into your training center's financial forecast?

The objective of the financial forecast of your training center's business plan is to show the growth, profitability, funding requirements, and cash generation potential of your business over the next 3 to 5 years.

The four key outputs of a financial forecast for a training center are:

  • The profit and loss (P&L) statement ,
  • The projected balance sheet ,
  • The cash flow forecast ,
  • And the sources and uses table .

Let's look at each of these in a bit more detail.

The projected P&L statement

The projected P&L statement for a training center shows how much revenue and profits your business is expected to generate in the future.

projected profit and loss statement example in a training center business plan

Ideally, your training center's P&L statement should show:

  • Healthy growth - above inflation level
  • Improving or stable profit margins
  • Positive net profit

Expectations will vary based on the stage of your business. A startup will be expected to grow faster than an established training center. And similarly, an established company should showcase a higher level of profitability than a new venture.

The projected balance sheet of your training center

The balance sheet for a training center is a financial document that provides a snapshot of your business’s financial health at a given point in time.

It shows three main components: assets, liabilities and equity:

  • Assets: are resources owned by the business, such as cash, equipment, and accounts receivable (money owed by clients).
  • Liabilities: are debts owed to creditors and other entities, such as accounts payable (money owed to suppliers) and loans.
  • Equity: includes the sums invested by the shareholders or business owners and the cumulative profits and losses of the business to date (called retained earnings). It is a proxy for the value of the owner's stake in the business.

example of projected balance sheet in a training center business plan

Examining the balance sheet is important for lenders, investors, or other stakeholders who are interested in assessing your training center's liquidity and solvency:

  • Liquidity: assesses whether or not your business has sufficient cash and short-term assets to honour its liabilities due over the next 12 months. It is a short-term focus.
  • Solvency: assesses whether or not your business has the capacity to repay its debt over the medium-term.

Looking at the balance sheet can also provide insights into your training center's investment and financing policies.

In particular, stakeholders can compare the value of equity to the value of the outstanding financial debt to assess how the business is funded and what level of financial risk has been taken by the owners (financial debt is riskier because it has to be repaid, while equity doesn't need to be repaid).

The projected cash flow statement

A cash flow forecast for a training center shows how much cash the business is projected to generate or consume.

example of cash flow forecast in a training center business plan

The cash flow statement is divided into 3 main areas:

  • The operating cash flow shows how much cash is generated or consumed by the operations (running the business)
  • The investing cash flow shows how much cash is being invested in capital expenditure (equipment, real estate, etc.)
  • The financing cash flow shows how much cash is raised or distributed to investors and lenders

Looking at the cash flow forecast helps you to ensure that your business has enough cash to keep running, and can help you anticipate potential cash shortfalls.

It is also a best practice to include a monthly cash flow statement in the appendices of your training center business plan so that the readers can view the impact of seasonality on your business cash position and generation.

The initial financing plan

The initial financing plan - also called a sources and uses table - is an important tool when starting a training center.

It shows where the money needed to set up the business will come from (sources) and how it will be allocated (uses).

initial financing plan in a training center business plan

Having this table helps understand what costs are involved in setting up the training center, how the risks are distributed between the shareholders and the lenders, and what will be the starting cash position (which needs to be sufficient to sustain operations until the business breaks even).

Now that the financial forecast of a training center business plan is understood, let's focus on what goes into the written part of the plan.

The written part of a training center business plan

The written part of the business plan is where you will explain what your business does and how it operates, what your target market is, whom you compete against, and what strategy you will put in place to seize the commercial opportunity you've identified.

Having this context is key for the reader to form a view on whether or not they believe that your plan is achievable and the numbers in your forecast realistic.

The written part of a training center business plan is composed of 7 main sections:

  • The executive summary
  • The presentation of the company
  • The products and services
  • The market analysis
  • The strategy
  • The operations
  • The financial plan

Let's go through the content of each section in more detail!

1. The executive summary

In your training center's business plan, the first section is the executive summary — a captivating overview of your plan that aims to pique the reader's interest and leave them eager to learn more about your business.

When crafting the executive summary, start with an introduction to your business, including its name, concept, location, how long it has been running, and what sets it apart. Briefly mention the products and services you plan to offer and your target customer profile.

Following that, provide an overview of the addressable market for your training center, current trends, and potential growth opportunities.

Next, include a summary of key financial figures like projected revenues, profits, and cash flows.

Finally, in the "ask" section, detail any funding requirements you may have.

2. The presentation of the company

The second section in your training center's business plan should focus on the structure and ownership, location, and management team of the company.

The structure and ownership part provides an overview of the legal structure of the business, who the owners are and how much each has invested and owns. If you are seeking financing it is important that the reader gets a clear picture of which legal entity is receiving the funds, and who controls the business.

The location part should give an overview of the premises from which the company is operating, and why that location is of particular interest (catchment area, accessibility, amenities nearby, etc.).

When describing the location of your training center, you could emphasize the potential for growth. It may be situated in a region with access to a large pool of potential customers, as well as resources that could support the expansion of your business. You could also emphasize the diversity of the local economy, which could indicate a stable market for your services. Additionally, you could point out the potential for strategic partnerships with other businesses in the area, which could help to increase your reach and build a network of customers.

Finally, you should introduce the management team. Explain each member's role, background, and experience.

It is also important to emphasize any past successes that the members of the management team have achieved, and how long they've been working together, as this will help potential lenders or investors understand why they should trust in their leadership.

3. The products and services section

The products and services section of your business plan should include a detailed description of what your company offers, who are the target customers, and what distribution channels are part of your go-to-market. 

For example, your training center could offer one-on-one tutoring, small group courses and online classes. The one-on-one tutoring would provide customized instruction tailored to a student's specific needs and goals. The small group courses would allow for students to work together to understand concepts more quickly, as well as build relationships with one another. Finally, the online classes would give students the chance to receive instruction from anywhere in the world, making it more convenient for those who cannot attend a physical location.

4. The market analysis

When you present your market analysis in your training center business plan, it's crucial to include detailed information about customers' demographics and segmentation, target market, competition, barriers to entry, and any relevant regulations.

The main objective of this section is to help the reader understand the size and attractiveness of the market while demonstrating your solid understanding of the industry.

Begin with the demographics and segmentation subsection, providing an overview of the addressable market for your training center, the key trends in the marketplace, and introducing different customer segments along with their preferences in terms of purchasing habits and budgets.

Next, focus on your target market, zooming in on the specific customer segments your training center aims to serve and explaining how your products and services fulfil their distinct needs.

For example, your target market might include adult professionals who are looking to gain new skills or certifications to advance their career. They may be looking to transition into a new field, or gain an edge in their current one. They are likely to be willing to invest in their education and may be looking for an intensive program that can provide quick results.

Then proceed to the competition subsection, where you introduce your main competitors and highlight what sets you apart from them.

Finally, conclude your market analysis with an overview of the key regulations applicable to your training center.

5. The strategy section

When you write the strategy section of your training center business plan, remember to cover key elements such as your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.

In the competitive edge subsection, elaborate on what makes your company stand out from competitors. This becomes especially important if you're a startup, aiming to carve a place for yourself amidst established players in the marketplace.

The pricing strategy subsection should demonstrate how you plan to maintain profitability while offering competitive prices to attract customers.

Outline your sales & marketing plan, detailing how you'll reach out to new customers and retain existing ones through loyalty programs or special offers.

For the milestones subsection, outline your company's achievements to date and your main objectives for the future, complete with specific dates to set clear expectations for progress.

Lastly, the risks and mitigants subsection should address the main risks that could affect your plan's execution. Explain the measures you've put in place to minimize these risks, assuring potential investors or lenders.

Your training center may face a variety of risks. For example, your center could face a financial risk if there is a decrease in enrollment or if the cost of materials and supplies increases. Additionally, your center might face a risk of litigation if an instructor or student is injured or if a student is unsatisfied with the quality of training.

6. The operations section

In your business plan, it's also essential to provide a detailed overview of the operations of your training center.

Start by covering your team, highlighting key roles and your recruitment plan to support the expected growth. Outline the qualifications and experience required for each role and your intended recruitment methods, whether through job boards, referrals, or headhunters.

Next, clearly state your training center's operating hours, allowing the reader to assess staffing levels adequately. Additionally, mention any plans for varying opening times during peak seasons and how you'll handle customer queries outside normal operating hours.

Then, shift your focus to the key assets and intellectual property (IP) necessary for your business. If you rely on licenses, trademarks, physical structures like equipment or property, or lease agreements, make sure to include them in this section.

You may have a variety of key assets and IP at your training center, such as proprietary learning materials and teaching methods. These could include professionally developed course materials, e-learning modules, multimedia content, and textbooks that are all unique to your center. Additionally, you might have specialized equipment such as computers, projectors, and audio visual gear that allow you to conduct training sessions in an effective and efficient manner.

Lastly, include a list of suppliers you plan to work with, detailing their services and main commercial terms, such as price, payment terms, and contract duration. Investors are interested in understanding why you've chosen specific suppliers, which may be due to higher-quality products or established relationships from previous ventures.

7. The presentation of the financial plan

The financial plan section is where we will include the financial forecast we talked about earlier in this guide.

Now that you have a clear idea of the content of a training center business plan, let's look at some of the tools you can use to create yours.

What tool should I use to write my training center's business plan?

In this section, we will be reviewing the two main options for writing a training center business plan efficiently:

  • Using specialized software,
  • Outsourcing the drafting to the business plan writer.

Using an online business plan software for your training center's business plan

Using online business planning software is the most efficient and modern way to create a training center business plan.

There are several advantages to using specialized software:

  • You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
  • You are guided through the writing process by detailed instructions and examples for each part of the plan
  • You can access a library of dozens of complete business plan samples and templates for inspiration
  • You get a professional business plan, formatted and ready to be sent to your bank or investors
  • You can easily track your actual financial performance against your financial forecast
  • You can create scenarios to stress test your forecast's main assumptions
  • You can easily update your forecast as time goes by to maintain visibility on future cash flows
  • You have a friendly support team on standby to assist you when you are stuck

If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .

Hiring a business plan writer to write your training center's business plan

Outsourcing your training center business plan to a business plan writer can also be a viable option.

Business plan writers are experienced in writing business plans and adept at creating financial forecasts without errors. Furthermore, hiring a consultant can save you time and allow you to focus on the day-to-day operations of your business.

However, hiring business plan writers is expensive as you are paying for the software used by the consultant, plus their time, and their profit margin of course.

From experience, you need to budget at least £1.5k ($2.0k) excluding tax for a complete business plan, more if you need to make changes after the initial version (which happens frequently after the initial meetings with lenders or investors).

You also need to be careful when seeking investment. Investors want their money to be used to grow the business, not spent on consulting fees. Therefore, the amount you spend on business plan writing services (and other consulting services such as legal services) needs to be negligible relative to the amount raised.

The other drawback is that you usually don't own the business plan itself: you just get the output, while the actual document is saved in the consultant's business plan software - which makes it difficult to maintain the document up to date without hiring the consultant on a retainer.

For these reasons, outsourcing the training center business plan to a business plan writer should be considered carefully, weighing both the advantages and disadvantages of hiring outside help.

Ultimately, it may be the right decision for some businesses, while others may find it beneficial to write their business plan using online software.

Why not create your training center's business plan using Word or Excel?

I must advise against using Microsoft Excel and Word (or their Google, Apple, or open-source equivalents) to write your training center business plan. Let me explain why.

Firstly, creating an accurate and error-free financial forecast on Excel (or any spreadsheet) is highly technical and requires a strong grasp of accounting principles and financial modelling skills. It is, therefore, unlikely that anyone will fully trust your numbers unless you have both a degree in finance and accounting and significant financial modelling experience, like us at The Business Plan Shop.

Secondly, relying on spreadsheets is inefficient. While it may have been the only option in the past, technology has advanced significantly, and software can now perform these tasks much faster and with greater accuracy. With the rise of AI, software can even help us detect mistakes in forecasts and analyze the numbers for better decision-making.

And with the rise of AI, software is also becoming smarter at helping us detect mistakes in our forecasts and helping us analyse the numbers to make better decisions.

Moreover, software makes it easier to compare actuals versus forecasts and maintain up-to-date forecasts to keep visibility on future cash flows, as we discussed earlier in this guide. This task is cumbersome when using spreadsheets.

Now, let's talk about the written part of your training center business plan. While it may be less error-prone, using software can bring tremendous gains in productivity. Word processors, for example, lack instructions and examples for each part of your business plan. They also won't automatically update your numbers when changes occur in your forecast, and they don't handle formatting for you.

Overall, while Word or Excel may seem viable for some entrepreneurs to create a business plan, it's by far becoming an antiquated way of doing things.

  • Having an up-to-date business plan is key to maintaining visibility on your future cash flows.
  • A business plan has 2 parts: a financial forecast highlighting the expected growth, profitability and cash generation of the business; and a written part which provides the context needed to interpret and assess the quality of the forecast.
  • Using business plan software is the modern way of writing and maintaining business plans.

We hope that this guide helped you to better understand how to write the business plan for a training center. If you still have questions, do not hesitate to contact us.

Also on The Business Plan Shop

  • How to write a 5 years business plan
  • Business plan myths

Know someone who owns or wants to start a training center? Share this article with them!

Guillaume Le Brouster

Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

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Corporate Training Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business Plans » B2B Sector

Do you want to start a corporate training business? If YES, here is a sample corporate training business plan template & FREE feasibility report. 

If you are a business coach or someone who has background in training, and you want to start a business, then you should consider starting your own corporate training firm. There are many corporate organizations, executives, entrepreneurs and even startups that will be more than willing to patronize your services.

Being a corporate trainer means that you will help your clients handle everything that has to do with training of their employees. That is, your goal as corporate trainer is to improve overall productivity. Starting a corporate training firm is not too expensive except for the money required to rent and furnish an office space.

Running this type of business requires that you should be trained as a brand business coach and a peak performance specialist, and it is indeed a very lucrative business in the United states because every company wants to establish themselves as a world leader in their industry.

If you are truly convinced that starting a corporate training firm is the right business for you to do, then you need to write your own business plan. Below is a sample corporate training firm business plan template that will help you successfully write yours with little or no stress.

A Sample Corporate Training Business Plan Template

1. industry overview.

This industry includes companies that offer short duration courses and seminars for management and professional development.

Training is provided through public courses or through employers’ training programs, and the courses can be customized or modified. Instruction may be provided at the company’s training facilities or educational institutions, the workplace or the home and via television or the internet.

A close study of the Business Coaching industry shows that the industry is heavily reliant on demand from its largest market, the middle and senior management of US corporations. After rebounding from a period where businesses cut back on non-essential expenses, including employee business coaching programs, the industry is expected to flourish over the five years to 2017.

Although some companies will use internal resources for training, industry revenue is forecast to increase albeit at a slightly slower rate over the five years to 2022. In the future, the adoption of online training is expected to bolster the industry.

This alternative is a more affordable and flexible option for customers and offers lower operating costs for training providers.

The business coaching industry is in the mature phase of its life cycle and luckily for the industry, the advent of digital media has provided an opportunity for the industry to explore and experience vibrant growth. Of course, the industry is becoming more concentrated, as seen by a few large global firms dominating the market and gaining huge market share.

The Business Coaching industry is indeed a very large industry that is pretty much thriving in all parts of the world especially in developed countries such as United States of America, Canada, united kingdom, Germany, Australia, France and Italy et al.

Statistics have it that in the United States of America alone, there are about 51,532 licensed and registered business coaching cum corporate training firms responsible for employing about 88,222 employees and the industry rakes in a whooping sum of $11 billion annually with an annual growth rate projected at 3.5 percent.

It is important to state that no establishment has a lion share of the available market in this industry. A recent report published by IBISWorld shows that the rapid pace of technological change and overall shorter product life cycles have altered the skills required to be an effective manager.

To keep up with these changes and develop the skills of senior employees, many companies use business coaching seminars, such as the ones offered by the Business Coaching industry.

Large corporations have placed a greater value on seminars and workshops, resulting in higher industry demand. Courses related to new skills such as information technology and change management, have been growing areas for the industry.

As acceptance of the value of professional development and continuing education classes, the industry has benefited immensely because companies looking to host these courses often seek out industry operators.

As a corporate trainer, the key attributes needed to be able to make good success from the trade is patience, enthusiasm, passion about the specific subjects / skills to be tutored, and constant positivity. You are also expected to be highly proactive, be good at planning, preparation, and certain other organizational skills.

It is one thing to have a skill and it is another thing to know how to teach people the skills which is why you must constantly get feedback from your clients to be able to measure their progress and your performance.

2. Executive Summary

Jules Atkinson & Co® Corporate Training Firm, Inc. is a U.S based corporate training firm that will be located in Lake Street, Petoskey – Michigan. We have been able to secure a standard office facility in a central business district in Lake Street.

We are a corporate training firm that is set to compete in the highly competitive business coaching cum corporate training industry not only in the United States market, but also in the global market because our clientele base will not be restricted to just businesses and organizations in the United States but in the international market.

Jules Atkinson & Co® Corporate Training Firm, Inc. will offer robust corporate training to both corporate organization and individuals. Our core training areas will revolve around management development training, professional development training, quality assurance training and business coaching.

Our business goal is to become one of the leading corporate training firms in the United States of America with high profile corporate clients scattered all around the globe. Our workers are going to be selected from a pool of talented business coaches and corporate training experts in and around Petoskey – Michigan and also from any part of the world as the business grows.

We will make sure that we take all the members of our workforce through the required training that will position them to meet the expectation of the company and to compete with leading corporate training firms in the United States and of course throughout the globe.

At Jules Atkinson & Co® Corporate Training Firm, Inc. our client’s best interest will always come first, and everything we do will be guided by our values and professional ethics. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s business needs precisely and completely.

Jules Atkinson & Co® Corporate Training Firm, Inc. is founded by Jules Atkinson and she will run the business with other partners.

Jules Atkinson is a renowned business coach and corporate trainer. She has over 10 years of experience as a business coach and corporate trainer both in the United States of America and Canada. She has several business coaching and corporate training certifications and is a certified NPL practitioner.

3. Our Products and Services

Jules Atkinson & Co® Corporate Training Firm, Inc. is going to offer varieties of corporate training services within the scope of the corporate training and business coaching industry in the United States of America.

Our intention of starting our corporate training business is to help in developing our clients in any skills and knowledge of their choice as it relates to specific useful competencies; we want to help our clients develop their capability, capacity, productivity and performance and of course to also make profits from the corporate training industry and we will do all that is permitted by the law in the US to achieve our aim and business goal.

We will work hard to ensure that Jules Atkinson & Co® Corporate Training Firm, Inc. do not just work for clients in the United States of America, but also for clients in other parts of the world. Our service offerings are listed below;

  • Providing management development training
  • Providing professional development training
  • Providing quality assurance training
  • Providing business coaching
  • Leadership skills
  • customer services skills
  • Financial management skills
  • Management skills
  • Interpersonal and Relationship management skills
  • Online business Coaching Services

4. Our Mission and Vision Statement

  • Our vision is to build a highly competitive and effective corporate training business that will become the number one choice for both individuals and corporate organizations in and around Petoskey – Michigan and the whole of the United States of America
  • Our mission is to provide affordable and highly effective corporate training services to a wide range of clients that cuts across different divides. Our overall business goal is to position Jules Atkinson & Co® Corporate Training Firm, Inc. to become one of the leading corporate training brands in the industry in the whole of Petoskey – Michigan within the first 5 years of operation.

Our Business Structure

Jules Atkinson & Co® Corporate Training Firm, Inc. is a world class corporate training firm that intends starting small in Lake Street, Petoskey – Michigan, but hopes to grow big in order to compete favorably with leading corporate training firms in the United States and of course throughout the globe.

We are aware of the importance of building a solid business structure that can support the kind of world class business we want to own. This is why we are committed to only hiring the best hands within our area of operation.

At Jules Atkinson & Co® Corporate Training Firm, Inc. we will ensure that we hire people that are qualified, hardworking, and creative, result driven, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders.

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company. In view of the above, Jules Atkinson & Co® Corporate Training Firm, Inc. have decided to hire qualified and competent hands to occupy the following positions;

  • Chief Executive Officer
  • Corporate Trainer cum Business Coaching Specialist

Human Resources and Admin Manager

  • Sales and Marketing Executive

Client Service Executive

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

  • Upsurges management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
  • Responsible for fixing prices and signing business deals
  • Responsible for providing direction for the business
  • Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization

Corporate Trainer/Business Coaching Specialist

  • Responsible for providing management development training
  • Delivers professional development training
  • Provides quality assurance training
  • Affords business coaching
  • Provides leadership skills training
  • Provides customer services skills training
  • Provides financial management skills training
  • Provides interpersonal and relationship management skills training
  • Provides Online business Coaching Services
  • Handles other related corporate training, advisory and consulting services
  • Responsible for overseeing the smooth running of HR and administrative tasks for the organization
  • Defines job positions for recruitment and managing interviewing process
  • Carries out induction for new team members
  • Responsible for training, evaluation and assessment of employees
  • Oversees the smooth running of the daily office

Sales and Marketing Manager

  • Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
  • Models demographic information and analyze the volumes of transactional data generated by customer
  • Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
  • Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
  • Responsible for handling business research, market surveys and feasibility studies for clients
  • Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
  • Develops, executes and evaluates new plans for expanding sales
  • Creates new markets cum businesses for the organization
  • Empowers and motivates the sales team to meet and surpass agreed targets

Accountant/Cashier:

  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
  • Responsible for financial forecasting and risks analysis.
  • Performs cash management, general ledger accounting, and financial reporting for one or more properties.
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensures compliance with taxation legislation
  • Handles all financial transactions for the organization
  • Serves as internal auditor for the organization.
  • Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
  • Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
  • Manages administrative duties assigned by the manager in an effective and timely manner
  • Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
  • Receives Visitors / clients on behalf of the organization
  • Receives parcels / documents for the company
  • Handles enquiries via e-mail and phone calls for the organization
  • Distributes mails in the organization

6. SWOT Analysis

Jules Atkinson & Co® Corporate Training Firm, Inc. engaged the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured corporate training and coaching business that can favorably compete in the highly competitive corporate training industry in the United States and the world at large.

Part of what the consultant did was to work with the management of our organization in conducting a SWOT analysis for Jules Atkinson & Co® Corporate Training Firm, Inc.. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Jules Atkinson & Co® Corporate Training Firm, Inc.;

Our core strength lies in the power of our workforce. We have a team of experts in the industry, a team with excellent qualifications and experience in corporate training and business coaching.

Aside from the synergy that exists in our carefully selected faculty members and our strong online presence, Jules Atkinson & Co® Corporate Training Firm, Inc. is well positioned in a community with the right demography and we know we will attract loads of clients from the first day we open our doors for business.

As a new corporate training and business coaching school in Petoskey – Michigan, it might take some time for our organization to break into the market and gain acceptance especially from top profile clients in the already saturated corporate training and business coaching industry; that is perhaps our major weakness.

  • Opportunities:

The opportunities in the corporate training industry is massive considering the number of individuals and corporate organizations who would want to acquire business skills and new soft skill sets in order to perform excellently in their jobs and personal life. As a standard corporate training firm, we are ready to take advantage of any opportunity that comes our way.

Every business faces a threat or challenge at some part of its cycle. These threats can be external or internal. This shows the importance of a business plan, because most threats or challenges are to be anticipated and plans put in place to cushion what effect they might bring to the business.

Some of the threats that we are likely going to face as a corporate training firm operating in the United States of America are unfavorable government policies that might affect business such as ours, the arrival of a competitor within our location of operation and global economic downturn which usually affects spending / purchasing power.

There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.

7. MARKET ANALYSIS

  • Market Trends

One thing is certain, the trend in the corporate training industry is such that if you want to be ahead of your competitors, you should be able to acquire as much certifications as possible and you should be able to have loads of testimonies from your clients.

The truth is that, if your clients experienced huge difference in their business as a result of contracting their corporate training and business coaching needs, then they will be compelled to help promote your organization.

Another notable trend in this industry is the influence of technology; the advent of technology is responsible for the increase in income generated by corporate trainers all over the world.

With technology, it is now easier for corporate trainers to train students that are thousands of kilometers away from them. Tools like video calling / Skype, YouTube, DVDs and Webcast et al are being used by corporate trainers to train students in different parts of the world.

8. Our Target Market

Jules Atkinson & Co® Corporate Training Firm, Inc. is specialized in empowering corporate executives with robust business skills that will help them improve their capacity, capability, efficiency and productivity at work and in their private life.

As a standard corporate training firm, Jules Atkinson & Co® Corporate Training Firm, Inc. offers a wide range of corporate trainings hence we are well trained and equipped to service a wide range of corporate clients. Our target market as a corporate training firm cuts across people of different classes and people from all walks of life.

We are coming into the corporate training industry with a business concept and company’s profile that will enable us work with clients at different learning stages and different status. Below is a list of the clients that we have specifically design our services for;

  • Banks, Insurance Companies and other related Financial Institutions
  • Blue Chips Companies
  • Corporate Organizations
  • Manufacturers and Distributors
  • Real Estate Owners, Developers, and Contractors
  • The Government (Public Sector)
  • Celebrities, Politicians, Public Figures and Public Speakers
  • Sport Organizations
  • Religious Organizations
  • Political Parties and Politicians
  • Television Stations
  • Printing Press (Publishing Houses) and Authors
  • Aspiring celebrities
  • Entrepreneurs and Startups

Our Competitive Advantage

The corporate training industry is indeed a very prolific and highly competitive industry. Clients will only hire your services if they know that you can successfully help them acquire a new skill set that will help them to be effective at work and in their organization.

It is the practice for corporate trainers and business coaches to acquire as much certifications as it relates to their area of specialization; it is part of what will make them stay competitive in the industry

We are quite aware that to be highly competitive in the corporate training and business coaching industry means that you should be able to deliver consistent quality service, your clients should be able to experience remarkable difference and improvement and you should be able to meet the expectations of your clients at all times.

Jules Atkinson & Co® Corporate Training Firm, Inc. might be new in Petoskey – Michigan, but our management team and the owner of the business are considered gurus in the industry.

They are licensed and highly qualified corporate trainers that can successfully build corporate skills in people with zero proficiency to an 8 or 10 on a scale of 10 within a short period of time. These are part of what will count as a competitive advantage for us.

Aside from our robust experience as corporate trainers, we have a very strong online presence that will enable us train clients in different parts of the world from our online portals.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

  • Sources of Income

Jules Atkinson & Co® Corporate Training Firm, Inc. is established with the aim of maximizing profits in the corporate training industry and we are going to go all the way to ensure that we do all it takes to attract clients on a regular basis. Jules Atkinson & Co® Corporate Training Firm, Inc. will generate income by offering the following corporate training services;

  • Online Business Coaching Services

10. Sales Forecast

One thing is certain, there would always be corporate organizations, government agencies, non – profits and individuals who would need the services of corporate training firms to help train their staff.

Jules Atkinson & Co® Corporate Training Firm, Inc. is well positioned to take on the available market in the corporate training and business coaching industry and we are quite optimistic that we will meet our set target of generating enough income from our first six months of operation and grow our firm to enviable heights.

We have been able to critically examine the corporate training marketing space, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast.

Below are the sales projections for Jules Atkinson & Co® Corporate Training Firm, Inc., it is based on the location of our business and of course the wide range of our corporate trainings and business coaching we offer and our target market;

  • First Fiscal Year: $200,000
  • Second Fiscal Year: $500,000
  • Third Fiscal Year: $750,000

N.B : This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same corporate training as we do within the same location. Please note that the above projection might be lower and at the same time it might be higher.

  • Marketing Strategy and Sales Strategy

We are mindful of the fact that there are stiff competitions amongst corporate training firms in the United States of America; hence we have been able to hire some of the best marketing experts to handle our sales and marketing.

Our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of Jules Atkinson & Co® Corporate Training Firm, Inc.

We will also ensure that our clients’ becomes experts with the skills they acquire; we want to build a first – class corporate training firm that will leverage on word of mouth advertisement from our satisfied clients.

Our goal is to grow Jules Atkinson & Co® Corporate Training Firm, Inc. to become one of the top 10 corporate training firms in the United States of America which is why we have mapped out strategies that will help us take advantage of the available market and grow to become a major force to reckon with not only in Petoskey – Michigan but also in other cities in the United States of America.

Jules Atkinson & Co® Corporate Training Firm, Inc. is set to make use of the following marketing and sales strategies to attract clients;

  • Introduce our corporate training and business coaching firm by sending introductory letters alongside our brochure to corporate organizations, government agencies, NGOs and key stake holders in and around Petoskey – Michigan.
  • Print out fliers and business cards and strategically drop them in offices, libraries, public facilities and train stations et al.
  • Use friends and family to spread word about our corporate training and business coaching firm
  • Post information about our corporate training and business coaching firm on bulletin boards in places like schools, libraries, and local coffee shops.
  • Place a small classified advertisement in the newspaper, or local publication about our firm
  • Use referral networks such as agencies that will help match clients with our corporate training firm
  • Advertise our firm in relevant educational magazines, newspapers, TV and radio station.
  • Attend relevant educational expos, seminars, and business fairs et al
  • Engage direct marketing approach
  • Encourage word of mouth marketing from loyal and satisfied clients

11. Publicity and Advertising Strategy

We have been able to work with our in – house brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market.

We are set to become the number one choice for both corporate clients and individual clients in the whole of the United States and beyond which is why we have made provisions for effective publicity and advertisement of our corporate training firm.

Below are the platforms we intend to leverage on to promote and advertise Jules Atkinson & Co® Corporate Training Firm, Inc.;

  • Place adverts on both print (newspapers and magazines) and electronic media platforms
  • Sponsor relevant community based events / programs
  • Leverage on the internet and social media platforms like Instagram, Facebook, twitter, YouTube, Google + et al to promote our services
  • Install our billboards in strategic locations all around Lake City Petoskey – Michigan
  • Engage in roadshows from time to time in targeted neighborhoods
  • Distribute our fliers and handbills in target areas
  • Contact corporate organizations, non – profits and government agencies by calling them up and informing them of Jules Atkinson & Co® Corporate Training Firm, Inc. and the services we offer
  • List Jules Atkinson & Co® Corporate Training Firm, Inc. in local directories / yellow pages
  • Advertise Jules Atkinson & Co® Corporate Training Firm, Inc. in our official website and employ strategies that will help us pull traffic to the site.
  • Ensure that all our staff members wear our branded shirts and all our vehicles are well branded with our company logo.

12.  Our Pricing Strategy

At Jules Atkinson & Co® Corporate Training Firm, Inc. we will keep the prices of our services below the average market rate for all of our customers by keeping our overhead low and by collecting payment in advance from corporate organizations who would hire our services. In addition, we will also offer special discounted rates to all our customers at regular intervals.

We are aware that there are some one – off jobs or government contracts which are always lucrative, we will ensure that we abide by the pricing model that is expected from contractors or organizations that bid for such contracts.

So also, there are some clients that would need regular access to corporate training and business coaching consultancy and advisory services, we will offer flat rate for such services that will be tailored to take care of such clients’ needs.

  • Payment Options

The payment policy adopted by Jules Atkinson & Co® Corporate Training Firm, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Jules Atkinson & Co® Corporate Training Firm, Inc. will make available to her clients;

  • Payment via bank transfer
  • Payment with cash
  • Payment via credit cards
  • Payment via online bank transfer
  • Payment via check
  • Payment via mobile money transfer
  • Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for our services without any stress on their part. Our bank account numbers will be made available on our website and promotional materials.

13. Startup Expenditure (Budget)

It is a known fact that in setting up any business, the amount or cost will depend on the approach and scale you want to undertake.

If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.

The materials and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. As for the detailed cost analysis for starting a standard corporate training and business coaching; it might differ in other countries due to the value of their money.

However, this is what it would cost us to setup Jules Atkinson & Co® Corporate Training Firm, Inc. in the United of America;

  • Business incorporating fees in the United States of America will cost – $750.
  • The budget for Liability insurance, permits and license will cost – $3,500
  • Leasing / renting an office space in a good location in Lake Street Petoskey – Michigan that will accommodate the number of employees for at least 6 months (Re – Construction of the facility inclusive) will cost – $150,000.
  • The cost for furnishing and equipping the office (computers, printers, projectors, markers, servers / internet facility, furniture, telephones, filing cabinets, and electronics) will cost – $30,000
  • The amount required to purchase the needed software applications – $3,500
  • Launching an official website will cost – $500
  • The amount need to pay bills and staff members for at least 2 to 3 months – $70,000
  • Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $5,000
  • Miscellaneous – $5000

Going by the report from the market research and feasibility studies conducted, we will need about two hundred and fifty thousand ( 250,000 ) U.S. dollars to successfully set up a medium scale but standard corporate training and business coaching firm in the United States of America.

Generating Funding/Startup Capital for Shae’s Touch Studios Business

Jules Atkinson & Co® Corporate Training Firm, Inc. is a private registered business that will be owned, financed and managed by Jules Atkinson and other partners. They are the financiers of the business which is why they decided to restrict the sourcing of the startup capital for the business to just three major sources.

These are the areas we intend generating our startup capital;

  • Generate part of the startup capital from personal savings and sale of his stocks
  • Generate part of the startup capital from friends and other extended family members
  • Generate a larger chunk of the startup capital from the bank

N.B: We have been able to generate about $100,000 ( Personal savings $85,000 and soft loan from family members $15,000 ) and we are at the final stages of obtaining a loan facility of $150,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

It is an established fact that, the future of a business lies in the number of loyal customers they have, the capacity and competence of their employees, their investment strategy and the business structure. If all of these factors are missing from a business, then it won’t be too long before the business close shop.

One of our major goals of starting Jules Atkinson & Co® Corporate Training Firm, Inc. is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to offer our services a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Jules Atkinson & Co® Corporate Training Firm, Inc. will make sure that the right foundation, structures and standard operating processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner of our business strategy.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of five years or more as determined by the board of the organization. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

  • Business Name Availability Check: Completed
  • Business Incorporation: Completed
  • Opening of Corporate Bank Accounts various banks in the United States: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Securing a standard office facility in a good location in Lake Street, Petoskey – Michigan: Completed
  • Application for business license and permit: Completed
  • Purchase of Insurance for the Business: Completed
  • Conducting Feasibility Studies: Completed
  • Generating part of the startup capital from the founders: Completed
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents: In Progress
  • Design of Logo for the business: Completed
  • Secure trademark for our products: In Progress
  • Printing of Promotional Materials: Completed
  • Recruitment of employees: In Progress
  • Purchase of the needed furniture, office equipment, software applications, electronic appliances and facility facelift: In progress
  • Creating Official Website for the business: In Progress
  • Creating Awareness for the business: In Progress
  • Health and Safety and Fire Safety Arrangement: In Progress
  • Establishing business relationship with vendors and key players in various industries: In Progress

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How To Start an Online Fitness Business: The Complete Guide for Beginners

Are you a fitness coach, physician, yoga trainer, fitness blogger, or gym owner? Do you prioritize fitness as the most crucial element of being healthy? Are you thinking of starting your own online fitness business?

If so, you’re in the right place!

Welcome to the ultimate guide on how to start an online fitness business.

This article will walk you through setting up your own online fitness business, selecting a niche, and growing your audience.

This beginner’s guide is designed to walk you through the entire process.

Here, we will cover the why, the how, the what, and the where of starting an online fitness business.

We will also cover the naming of your enterprise, setting up web hosting, selecting a WordPress platform, and everything you will need to create a successful online fitness business.

By the end of the article, you will have the information you need to plan, launch and run your business!

Why should you start an online fitness business?

If you’re into fitness, have trained people before and want to turn your passion into a business, why wouldn’t you?

An online fitness business can include exercise videos, fitness routines, healthy diet, and information around the niche. All the things you may already know well, just in an online form.

Here are a few underlying reasons to start an online fitness business:

Convert your passion for fitness into a business

As an expert in fitness, you can turn your ideas, techniques, thoughts, and passion into a great business. And what better way to present it than online?

You can educate millions and motivate them to adopt a healthier lifestyle from the comfort of your home.

Grow your fitness brand

Building an online form can help you grow your brand if you already own a physical fitness business.

Internet marketing can benefit your business. Most customers search online before most purchases, so an online presence will surely help.

Having an online presence helps with every aspect of your business. From building trust and authority to showing customers where to go if they want to attend a class.

Increase audience outreach

The global online fitness market is valued at $6 million and is projected to reach $59 million by 2027. That’s a huge target market!

With an online presence, you can reach out to a wide range of audiences across the globe and grow your business. And the best part is, that it equally benefits you as well as your audience!

Offer a flexible schedule for customers

Many people would love to get into a healthy routine but do not have a fixed time to go to the gym. Some people just have no idea about how to begin!

An online fitness business offers a solution. Not only does it offer a flexible schedule, but you can do it in the comfort of your own home.

Convert your audience into paying clients

Businesses, either online or physical, are all about making money! In exchange for products or services you offer, you get to make a profit.

You can sell products like gym equipment and supplements by integrating eCommerce into your website .

You can add a membership portal that allows access to your content to subscribed members.

How to start an online fitness business

If you’re looking to start an online fitness business, we have five detailed steps. We will also be discussing marketing and monetizing your venture.

Let’s start:

Step 1: Select a niche

The fitness industry is huge. It includes eating healthy to self-control, weight loss to motivation and meditation, diet plans, exercise, workouts, pilates, zumba, yoga, and so much more.

Looking at all the aspects of fitness expertise can be a smart move but we suggest working within a particular niche.

What do you mainly specialize in? Is it providing workout videos and routines, or is it offering and suggesting a healthy diet plan?

Do you plan on posting a whole routine of workout videos, or is it going to be a blog website with recipes and healthy eating ideas?

Here are some popular ideas with an existing audience to give you inspiration:

  • Weight loss
  • Bodybuilding
  • Healthy eating
  • Functional movement training
  • Nutrition plans for better health
  • A diet regime for all age groups
  • At home workout plans

Selecting a niche helps you in many ways, from choosing a target audience to keeping your focus.

A niche-based business website enables you to gain authority in your place and stand out from the rest.

Before choosing a niche, be sure to consider your passion.

Are you passionate about your subject? Are you sure you’ll enjoy working in it? Do you have enough experience for a fitness business?

You don’t have to come up with your niche in a day. We suggest ensuring you understand your wants and needs along with the market demands and business potential before selecting your niche.

Step 2: Come up with a suitable name for your business

The name of your business can have a significant impact on its identity and how others view it.

Naming your business is an incredibly important step. It comes with great responsibility because it frames your business and frames audience perception.

Before generating name ideas for your online fitness business, we recommend putting the following question into perspective:

  • What is your business going to be about?
  • Who is the target audience?
  • What content do you plan to offer?
  • Is the name just for your website or for a business too?
  • Is the name too challenging to spell or pronounce?

We suggest considering these questions before coming up with your business name.

We also suggest using the same name in the online form if you already own a physical business.

Moreover, you can look at your competition or view expired domain s for inspiration.

Once you come up with a name, one step remains – the domain test. Other businesses might have already used the word you’ve come up with.

We suggest coming up with two to three alternatives if your chosen domain name is unavailable. You can also be creative with domain naming, such as adding a region, niche or location to the name.

Think www.popularfitnessnameincity.com instead of www.popularfitnessname.com.

Step 3: Know your target audience

A niche helps you identify your target audience, but there’s more to it than that.

Your business is not only about you. Everything you do creates an impact on your audience.

That’s why we think audience analysis is essential.

Who is your audience? Who are your services developed for?

You need to go beyond and think about everything from your audience’s perspective: why they’re on your website, how can you benefit them, and what should you be offering?

With this in mind, you can find your target audience and focus on converting them into customers.

Step 4: Decide your business model

Remember when we said earlier that business is about making money? It is, and there are ways to do it. Deciding on a business model helps.

A business model helps define how your business will generate revenue. Therefore, when you start, it is necessary to determine the type of model to support your goals and incorporate it into your business plan and market search.

It simply outlines how your fitness business plans to make money.

The model comprises factors like:

  • What products will you be selling or what service are you going to offer
  • How to market the service you offer
  • What sort of expenses the company will face
  • How the fitness business expects to make a profit

An online; fitness business innovates the structures based on these models:

Fee-for-service model

This is what it exactly sounds like, changing the fee for a specific service offered. A business set on this model can increase its earnings by working for additional clients or increasing its rate.

Subscription model

Essentially, the customers are required to make a recurring payment for ongoing access to the service.

Bundling model

This model involves businesses selling two or more two products together in a single unit for a lower price than they would charge selling the products separately. An online fitness business can implement this model, offering various training packages in a single unit that benefits the clients.

Step 5: Select a suitable platform for your website

Once you have finalized your niche and name and a business model, it’s time to select a platform to build on.

There are free as well as paid platforms. If you’re serious about starting your business, we recommend using a content management system as your platform as they offer enriched features and flexible customization.

WordPress.org is the most popular Content Management System (CMS) for hosting websites. It powers over 40% of the web.

It is a self-hosted platform where you buy your own domain name and web hosting.

We think self-hosted works best. There is a little more work involved, but you get complete control of your website, the design, feature, niche, customization, and every aspect of your online business.

To explore more options, you can check out our article on content management systems .

Step 5.1: Selecting reliable domain and hosting

Once you select a domain name for your business, it’s time to purchase and use it for your website.

A domain name is the address of your website, where your visitors type the www. name into the web browser to land on your website.

Our domain name is ‘ wpastra.com ‘ .

When selecting a domain name, we suggest going with a name that is memorable and easy to spell. The shorter the domain name, the easier it is to remember.

Also, we recommend adding popular extensions like .com or .net or .io.

Finding the best WordPress hosting service for your fitness business can be difficult. With so many hosting providers, which do you choose?

We have an article on the fastest managed WordPress hosting that might help.

Step 5.2: Setting up a business website in WordPress

To use WordPress, you need to set it up. Many hosting providers offer automatic WordPress installation, others let you install it in just a few clicks.

We have a detailed tutorial on how to install a WordPress website if you need it.

Setup takes just a few minutes and most of the work is done for you. Simply answer a few basic questions and WordPress will take care of the rest.

Step 5.3: Selecting a theme

Another great advantage of using WordPress is the availability of responsive themes !

So, what is a theme?

WordPress theme is a group of files built to change the appearance of your website. It includes style sheets, graphics, CSS, animation, and other files.

There are various types of themes, such as multipurpose, full-site editing, and niche-specific.

Themes control many things on your website ranging from layouts, fonts, and color schemes,

While there are hundreds of online fitness WordPress themes , we recommend choosing Astra .

Astra is built to deliver high performance and functionality. It operates efficiently and offers hundreds of professionally designed templates.

It can be a perfect fit for your online sports business because the theme is lightweight, speed-optimized, responsive, retina-ready, and most of all – free!

Step 5.4: Selecting plugins

Before setting up your website, we recommend installing and activating a few necessary plugins on your website.

A plugin is an addon that adds features or enhances existing ones.

You can use them to customize your website and add the features you need.

Check out our list of must-have plugins to get started.

Step 4.4: Setting up your fitness website

Now that you’ve every element to get your online fitness business up and running, it’s time to set up.

You’ll need to install a theme, design the homepage and necessary pages and publish it for the world to see.

If you choose Astra, all you’ll need to do is install the theme, install the Starter Templates plugin, select a gym or fitness website template and Astra does the rest.

To beautifully design and set up your website from scratch, follow our tutorial guide: How to make a WordPress website .

Step 5: Creating content and publishing it

The success of your online fitness business depends on the type of content you publish. Online businesses are defined by the quality and quantity of that content and it will make or break your venture.

Your niche selection gives you an idea of what kind of content to post on your website.

For an online fitness business, it can be workout videos, diet plans, video tutorials on how to get started and similar content.

Or it can be a blog, tips, videos, audio, or images explaining your fitness business.

To bring more visibility to your website, you should create content and publish it, keeping Search Engine Optimization (SEO) in mind.

Here’s our tutorial guide on how you can create content and publish it on your website .

To get started with creating content, you’ll need to add a page or post to your website.

Here’s how to add a new post. Adding a new page is exactly the same, just select Pages instead of Posts .

  • Head to Posts > Add New from your WordPress dashboard

You can enter the title and use multiple blocks to embed audio, image, paragraph, and videos on the page and design your content accordingly.

  • Publish the post

Similarly, following the same steps, you can create as many pages or posts as you like.

Marketing your business

Building a website and publishing content is only half the battle. It would help if you marketed it too.

The need for marketing has always been there. With an estimated 1.86 billion websites , it would help if you had some tactics to get yours noticed.

Tactics can range from sharing content on social media to email marketing . Marketing is a time consuming, but essential part of running a business.

Here are a few proven marketing strategies you can use for your online fitness business:

Use search engines

Some of the most popular search engines, like Google and Bing, have a huge audience. It is the primary way that users on the web can discover your website.

This is where SEO, Search Engine Optimization, comes in.

SEO is a very complex topic but can have a massive impact on the number of traffic you drive to your website.

To mark your online business friendly with SEO, there are a couple of things to keep in mind.

The first is keyword research . You need to find the correct keywords to use on your content to rank them well on the search engine pages.

The other way is by building links to your website. You can suggest your visitors share your content on social media and go guest post – getting backlinks to your site.

Overall, SEO is a gradual marketing strategy but can do much for you in the long run!

Share your content on social media

If you are talking about marketing strategy, social media is a must-have. With vast numbers of engaged users, you need to be able to share your business on at least two to three platforms.

Some of the most popular platforms for business are Twitter, Facebook, TikTok, YouTube and LinkedIn.

Consider where your target market is likely to hang out and concentrate your efforts there.

You can add a social share button on your website to help with this. You could also expand the audience on social media by forming channels or groups and engaging them with your content.

There are also options for social media marketing where you post your content in exchange for a few dollars.

We suggest creating content on the website that is shareable with your audience.

Email marketing

Email marketing is a crucial method of marketing after SEO and social media.

It is simple and easy to set up compared to other marketing methods.

The first step toward email marketing is building an email list. These details help you directly connect with potential customers.

You can send emails when you publish new content or if you have some exciting news.

To do so, many email subscribers and newsletters plugins are available to use on your website.

But, you must keep an eye on the open rates for the performance as not everyone is a fan of marketing emails!

Create partnerships with businesses

So you’ve created worthy content and published it on your website, kept SEO in mind, promoted it on social media, and created emails.

It’s now time to step outside of your website and do more by collaborating or partnering with other businesses.

You can reach out to other businesses with a similar target market and ask them to contribute to your blog.

Or work out an arrangement , where you exchange content providing backlinks to each other’s websites.

You could also collaborate with social media influencers. You can search for influencers in your niche and offer them merchandise or a subscription in return for publicity.

Guest posts

A guest post is where you write a post for another site, providing a backlink to your website as a reward. Backlinks are the primary payment for guest posts. The visitors on a site can be redirected to yours following the link to your online fitness website.

You prepare content on an agreed topic and post it on their website.

The initial starting guest post begins by reaching out to websites that can be suitable for your business.

Start earning from your online fitness business

While the intention of starting an online fitness business ultimately can be to earn money, it takes time, consistency, and patience to get you through the early steps.

A few other ways to start earning from your online fitness business are:

eCommerce integration

It is 100% possible to sell supplements and goods from your website by integrating them into a fully responsive eCommerce website.

Membership website

The membership portal is another form of earning from an online fitness business. You can create courses and content on your website that requires a subscription for your audience to access.

You can do this by using any of the membership plugins and prioritizing the membership function of the website.

Affiliate marketing

Affiliation can be a great source of income for websites doing well in SEO.

Wrapping up

Whether you’re a fitness enthusiast, a professional trainer, or knowledgeable in the fitness field, starting your own online fitness business could be a great move.

This post taught us what an online fitness business is and why we should start this business.

Further, we learned how you could get started.

We mentioned detailed steps to build your online fitness business, from selecting a platform to web hosting, the domain to the theme, and designing and customizing it.

Finally, we talked a little about marketing your business and earning from it.

Have you ever thought of creating your own online fitness business? Which platform, according to you, might be the best? What are your thoughts on this article?

Get exclusive access to new tips, articles, guides, updates, and more.

Disclosure: This blog may contain affiliate links. If you make a purchase through one of these links, we may receive a small commission. Read disclosure . Rest assured that we only recommend products that we have personally used and believe will add value to our readers. Thanks for your support!

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How to start a small business at home in 2024

Blair Travers

Sierra Campbell

Sierra Campbell

“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.

Published 8:07 a.m. UTC Feb. 16, 2024

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Featured Image

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Starting a small business at home can help you turn your passions, skills or ideas into financial prosperity. There are some unique perks and challenges to consider when deciding to start a home-based business. 

You’ll also want to have a solid plan and follow some key steps to get your business off on the right foot. It’s helpful to know where you can find ideas, answers to your questions and other resources you need to run an at-home business successfully.

Should you start a business at home?

There are many factors to consider when deciding to start a small business at home. On the one hand, it’s important to make sure there is demand for your business. On the other hand, you want to be able to handle the amount of business you receive. Gauging things like demand, profit margins and the ability to scale your business early on can help you avoid trouble down the road.

Across the country, at-home businesses make up a large portion of small businesses. C.E. “Tee” Rowe is the president and CEO of America’s Small Business Development Centers (SBDC), which provides free or low-cost support for small businesses in partnership with the U.S. Small Business Administration. “Here at America’s SBDC, we have seen an uptick in home-based businesses that started during the pandemic but continues to date,” said Rowe. 

Pros of a home business

Here are some key benefits to starting a business at home:

  • Increased flexibility: Set your own hours, freeing you up for other commitments as needed.
  • Less commuting: Save time and money by skipping the drive to work.
  • Comfortable work environment: Design your workspace how you want it. After all, it is your home.
  • Money-saving perks: Pay lower startup costs compared to larger businesses by avoiding costs like renting retail or office space. Take advantage of tax breaks for at-home businesses.
  • Reduce risk: Protect yourself by limiting your liability and avoiding the cost and risk of maintaining commercial space.
  • Rewards for your hard work: Work hard for your business, and your business reaps the benefits instead of some other employer.

Cons of a home business

These are some of the disadvantages of starting a business at home:

  • Limited space: You give up part of your home, and even then, you may still need more space for your business.
  • Distracting work environment: Crying babies, barking dogs and loud neighbors can all be distracting when running a business at home.
  • Professional boundaries: Some people may feel awkward about meeting to discuss business at your home or a public location.
  • Increased mental health risks: Running a home business can feel isolating for some. A lack of social interaction, time outside, work-life balance or effective time management can also threaten mental health.
  • Growth restrictive: If your home-based business scales too rapidly, you may outgrow your workspace quickly. In this situation, success creates a problem for home businesses to solve.
  • Increased costs: Whether you’re paying new employee salaries or wages or forking over more money for higher utility bills, you may feel the financial squeeze.

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7 steps to start a home business

After considering the pros and cons, does the idea of taking the reins and starting a home business appeal to you? You’re not alone. 

“When we work with individuals seeking to start a home-based business, it is frequently based on a desire to control their own circumstance and success, which are great reasons, but it always needs to be thought out carefully,” Rowe explained.

Planning is key. From creating a business plan and determining your business structure to securing funding and setting your marketing strategy, there’s a lot to think through. Follow the steps below to get on the right track to starting a small business at home.

1. Find your niche

Plenty of successful at-home businesses arise from emotion: a passion to do what you love, a frustration with the status quo or excitement to seize on a timely opportunity.

If you’re struggling to find your niche, ask yourself:

  • What do you love to do that others may find challenging?
  • What is a need that no business currently has the right solution for?
  • What are you good at? What do people ask for your help with?
  • What high-demand skills or services do you have to offer?

2. Draft a business plan

Having a business plan is essential for running your business effectively. As Rowe pointed out, “Every business needs a solid, comprehensive plan to guide them to success. That plan needs to focus on skills, finance, revenue and marketing.”

A business plan outlines the direction of the business — its goals, strategies, structure, ways of measuring success and plans for dealing with things like change and risk. Simply put, it’s the roadmap to success for your business.

When creating your business plan, include key sections such as an executive summary, a business description, market analysis and financial projections. For more on what to cover, check out this step-by-step guide to drafting a business plan .

3. Select a business structure

According to the IRS, the most common business structures are sole proprietorships, partnerships , corporations and limited liability companies (LLC) . Each business structure comes with its own set of operational, legal, financial and tax considerations. 

A sole proprietorship is a business owned and operated by a single individual, while a partnership is jointly owned by two or more individuals who share responsibilities. 

In contrast, corporations — like C corporations and S corporations — are independent legal entities. C corporations limit shareholder liability but are highly complex. S corporations feature pass-through taxation, distributing income (and losses) to shareholders.

While sole proprietorship is a common structure for just starting out, LLC is another popular option for at-home businesses. It combines elements of a corporation and a partnership, offering limited liability to its members and the flexibility of pass-through taxation. Members of an LLC can choose to be taxed as a sole proprietorship, partnership, C corporation or S corporation.

4. Register your business and get an EIN

After you choose a business structure, you’ll need to register your business with state and federal governments. Select a business name , pay fees and provide required documents, which vary by state.

After getting registered with your state, you can then apply for an Employer Identification Number (EIN) from the IRS. Once you’re approved, you’ll receive this unique nine-digit number that is essential for all sorts of business purposes, from filing your taxes to hiring employees. 

Not all businesses need an EIN, such as sole proprietors and single-member LLCs with no employees.

5. Get any required licenses and permits

Depending on your industry and federal, state and local requirements, you may also need to obtain licenses and permits for your business. 

Here are some examples of licenses and permits you may need, depending on your business:

  • Occupational, professional or trade licenses.
  • Online business permits.
  • Sales tax permits.
  • Health department permits.
  • Safety permits.
  • Home-based child care licenses.
  • Zoning, signage, environmental and other permits to operate an at-home business, as required by local government, HOA or deed restrictions.

6. Obtain funding for your business

Many owners fund their businesses using their own savings. Self-funding is a viable choice if you can get up and running without much money, can come up with the needed funding from your own accounts or can ask for help from family or friends. 

You can also apply for a business loan . Banks will likely want to see a rock-solid business plan, strong financial projections, good personal and/or business credit history and any collateral you’ll use for your loan. If you are a good candidate for lending, make sure that shows in your application so that you can get the best funding and terms for your business.

If you don’t have much personal or business credit history, it may be easier to get a business credit card . This gives you benefits like payment flexibility, credit card rewards and essential early or emergency spending power. It will also help your business establish or strengthen its credit so you can get favorable terms on future loans and other credit.

7. Launch and market your business

You’ve planned out your business, defined its structure and gotten your business registered, licensed, permitted and even paid for. Now it’s showtime. For many who seek to start a small business at home, the launch is the most exciting part of the journey. You are now ready to conduct business.

It’s also important to get others excited about your small business — and keep them engaged. Here are some of the most common marketing strategies for small home-based businesses:

  • Social media marketing: Reach potential customers on platforms like Facebook, Instagram, TikTok and X (formerly Twitter) by sharing engaging content and updates.
  • Business website: More than just a place to sell your products or services online, your business website should help users find what they want to meet their needs. It should also help achieve business objectives by offering features like payment services or e-commerce functionality .
  • Advertising: Platforms such as search engines and social media can help you reach your target audience.
  • Content marketing: Write blog posts, produce videos or create helpful graphics to explain what your business offers and to establish trust and authority.
  • Email marketing: To keep business coming back, build an email list to communicate using promotions, newsletters and updates.
  • Word of mouth: In the early stages, many small home-based businesses rely on word of mouth. You can also ask for customer reviews on platforms like Google and Yelp.

Weigh the costs and benefits when deciding on your marketing plan, so you choose what’s best for your business.

Top home business ideas

Check out these home business ideas to find the right fit for you:

  • Retail: Sell products you make — including crafts and customized gifts — or resell products you get for less than what you pay for them.
  • Case-based services: Open up an in-home daycare, provide home-based care for adults or even take care of pets by offering pet sitting and mobile grooming.
  • Events: Plan weddings and events. Create the perfect look as a makeup artist or stylist. Play music in a band or take your place on the 1s and 2s as a DJ.
  • Art and creative services: Capture the moment as a photographer, or maybe you’d rather bring your vision to life as an artist. More of a words person? Write, edit or translate content. 
  • Education: Teach the next generation how to do math, play an instrument or learn a new language. Provide adults with specialized training in arts and crafts, life coaching or test preparation.
  • Health and wellness: Become a personal trainer to get people in the best shape of their lives or a mental health counselor to help them find their inner peace.
  • Home and real estate: Transform homes by organizing, decorating or even staging. Produce virtual home tours for real estate agents, or become a realtor yourself.

Resources to start a business

For more resources and guidance on how to start a small business at home, check out these guides and articles:

  • Follow our step-by-step guide on how to start a business from the ground up.
  • Learn how to start an LLC if that’s your chosen business structure.
  • Discover how to start a business with no money so funding doesn’t hold you back.
  • Skip the overhead that comes with brick-and-mortar stores and find out how to start an online business .
  • Explore options to accept payments online and start making money in your sleep.
  • Find the cheapest payroll services to pay your employees and contractors.
  • Build a successful business by attracting loyal, repeat customers. 

Frequently asked questions (FAQs)

The cost of starting a business at home varies widely and depends on several factors. Some businesses, including sole proprietorships, can get away with paying little to no money to start their business. Other home-based businesses, including those with manufacturing or inventory expenses, could have considerably higher startup costs.

Yes, you can use your home address to register a business. However, you’ll want to make sure that usage does not go against local laws, HOA bylaws or property covenants. It’s also a good idea to check with your mortgage and homeowners insurance companies to make sure that running a business out of your home does not introduce unforeseen headaches.

Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.

Blueprint has an advertiser disclosure policy . The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.

Blair Travers

Blair Travers is a business writer and content strategist with over a decade of experience breaking down complex problems to help businesses move forward with confidence. He brings a wide range of technology, banking and retail expertise. Blair enjoys helping businesses figure out complex processes and make choices that are right for them. His work has been published in U.S. News & World Report and Carfax.

Sierra Campbell is a small business editor for USA Today Blueprint. She specializes in writing, editing and fact-checking content centered around helping businesses. She has worked as a digital content and show producer for several local TV stations, an editor for U.S. News & World Report and a freelance writer and editor for many companies. Sierra prides herself in delivering accurate and up-to-date information to readers. Her expertise includes credit card processing companies, e-commerce platforms, payroll software, accounting software and virtual private networks (VPNs). She also owns Editing by Sierra, where she offers editing services to writers of all backgrounds, including self-published and traditionally published authors.

How to start a small business: A step-by-step guide

How to start a small business: A step-by-step guide

Business Eric Rosenberg

Employee Training: What It Is and Why It's Important

Employee training benefits employees and the organizations that hire them. Learn why you need it and how you can implement it into your business.

[Featured Image] A woman leads an employee training session around a table in an office.

Over the last couple of decades, technology has dramatically changed how people work. Positive company culture and work-life balance have become a top priority. Rather than sitting in offices and cubicles, people collaborate in the office or work remotely. Thanks to globalization, business is now wider than your geographical region. With so many rapid changes, employee training has become more critical than ever. 

Employee training is beneficial to both organizations and employees. Approximately 94 percent of employees say they would stay with an organization if it invested more in learning [ 1 ]. Employee training can help improve company culture, increase productivity, and support workplace safety. But that's just the beginning. Take a deeper dive into why employee training is essential and how to make it a part of your organization. 

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What is employee training? 

Employee training is any instruction or activity that teaches employees new skills or improves their current skills and performance. The term may describe anything from safety training for an entire staff to introducing a new hire to the ins and outs of a particular job to training an existing employee how to use new technology. 

Some use 'employee training' interchangeably with ' employee development .' While they go hand-in-hand, you’ll usually find slight differences. Training teaches something new or builds upon something that already exists, and it is usually a shorter process. Development is more of a long-term, multi-layered approach. For example, getting a new tablet in the office and teaching your employees the basics of how to use it is employee training. Sending an employee to take an online course or earn a certification to enhance their current skills is more along the lines of employee development. 

What are the benefits of employee training? 

Employee training empowers employees and organizations simultaneously by improving company culture, increasing productivity, and offering numerous other benefits. This can be mutually beneficial as it can lead to low turnover rates, increased sales for the organization, and more contentment and work-life balance for employees. Take a look at some of the more specific benefits you may see as an employee, leader, or manager of an organization that implements employee training. 

Benefits for the employees

Employees who receive high-quality employee training tend to be more satisfied overall, but the benefits continue. Other reasons employees appreciate good training include: 

Increasing autonomy in the workplace

Maintaining a safer work environment

Feeling more significant support from their employers 

Increasing confidence in the ability to do a job correctly

Acquiring skills and knowledge they can use to advance their careers

Learning skills and information that may lead to a leadership role in the future 

Developing a greater understanding of their roles and the tasks they need to complete 

Benefits for the organization  

It's no secret that satisfied and well-trained employees benefit the organization where they work. They're less likely to leave for another job when they feel content where they are, which means you have a lower turnover rate. Other ways that employee training might benefit your organization include:  

Safer workplace (fewer accidents, fines, lawsuits, etc.) 

Increased profits due to better performance and higher productivity 

Improved company reputation as employees spread the word about how much they enjoy working for your organization

Increased engagement and enthusiasm among your staff 

Better pipeline of potential future leaders within your organization 

Improved company culture 

Increased collaboration and better workplace relationships

Morale boost for both employees and leaders

Ability to implement new technology and strategies with greater ease 

What are some types of employee training? 

Employee training can be divided into many categories, depending on the goal and subject matter. Some common types of training include:

Workplace skills training:  This type of training involves enhancing or teaching workplace skills or human skills, like communication, problem-solving, and critical thinking, which can be just as important as technical skills or experience and education. 

Technical training: Technical training is precisely what it says it is: training employees on how to use new technology . 

Safety training: Safety training teaches employees health and safety habits that can prevent workplace accidents and reduce illnesses and injuries.  

Compliance training: Compliance training typically involves instruction that involves law or policy that may impact your organization and employees. For example, if a new diversity law passes, you may use compliance training to show it can affect your workplace. Safety training can sometimes fall into this category.  

Pre-onboarding/onboarding training: This type of training is for new employees. It can range from an orientation that teaches an employee about the company's values and culture to instructing the new employee on how to start doing various tasks related to their job. 

General workplace training: General workplace training is a broader category that can include just about anything, but it usually focuses on reskilling or upskilling technical and human skills . It can apply to new and veteran workers, an entire staff, or just one employee. 

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Common ways to implement employee training 

When you think about the phrase 'employee training,' you may imagine a group of workers sitting around a conference or classroom listening to an instructor. That's certainly one way to implement employee training, but dozens of others exist. 

In some cases, you won't have a choice. If you receive a video from your corporate office on sexual harassment, showing the video to your employees is your only option. However, if you're a human resources leader or another type of workplace leader assigned a topic, you can get creative with how you present it to the workers. Some ideas include these:

Virtual training by an instructor, either live or asynchronous

Virtual courses and lessons

On-the-job training

Simulation or role-play 

Peer training

Microlearning

In-person instruction

Blended learning 

Video training

Hands-on training 

One-on-one meetings

Employee training best practices

Now that you know what employee training is, it's time to implement a program in your organization. Here are some best practices when planning and implementing an employee training program: 

Set concrete goals . Ensure there's a purpose behind all of your employee training. Develop a metric to help you determine if your training is successful. 

Encourage your employees to continue their learning beyond your training program. Set them up for success by explaining how it can benefit their careers, and provide them with tools like access to reading materials, videos, and courses. 

Personalize training methods to suit each group or individual as much as possible. Consider different learning styles, employee feedback, and past reception and engagement. Offer various opportunities so everyone can find something that makes them comfortable.

Consider an incentive. Employees may welcome certain training types but may be hesitant to attend compliance training meetings. Give everyone who does a gift card or hold a raffle for a day off. 

Pay attention to employee feedback. Ask your employees what is and isn't working for them, and make the appropriate changes.

Leave time for learning . Quality should always come before quantity. Employees will learn at different rates, so you may need to give some more time for concepts to sink in.  

Leverage peer learning. Many employees feel more comfortable around their colleagues than a manager or supervisor. Some simply learn best by watching someone do the job. Create a mentorship program or allow new employees to shadow more experienced ones. 

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Article sources

Talent Lyft. " 5 Examples of Employee Training and Development Programs " Accessed October 19, 2023. 

This content has been made available for informational purposes only. Learners are advised to conduct additional research to ensure that courses and other credentials pursued meet their personal, professional, and financial goals.

business plan for online training company

Create a form in Word that users can complete or print

In Word, you can create a form that others can fill out and save or print.  To do this, you will start with baseline content in a document, potentially via a form template.  Then you can add content controls for elements such as check boxes, text boxes, date pickers, and drop-down lists. Optionally, these content controls can be linked to database information.  Following are the recommended action steps in sequence.  

Show the Developer tab

In Word, be sure you have the Developer tab displayed in the ribbon.  (See how here:  Show the developer tab .)

Open a template or a blank document on which to base the form

You can start with a template or just start from scratch with a blank document.

Start with a form template

Go to File > New .

In the  Search for online templates  field, type  Forms or the kind of form you want. Then press Enter .

In the displayed results, right-click any item, then select  Create. 

Start with a blank document 

Select Blank document .

Add content to the form

Go to the  Developer  tab Controls section where you can choose controls to add to your document or form. Hover over any icon therein to see what control type it represents. The various control types are described below. You can set properties on a control once it has been inserted.

To delete a content control, right-click it, then select Remove content control  in the pop-up menu. 

Note:  You can print a form that was created via content controls. However, the boxes around the content controls will not print.

Insert a text control

The rich text content control enables users to format text (e.g., bold, italic) and type multiple paragraphs. To limit these capabilities, use the plain text content control . 

Click or tap where you want to insert the control.

Rich text control button

To learn about setting specific properties on these controls, see Set or change properties for content controls .

Insert a picture control

A picture control is most often used for templates, but you can also add a picture control to a form.

Picture control button

Insert a building block control

Use a building block control  when you want users to choose a specific block of text. These are helpful when you need to add different boilerplate text depending on the document's specific purpose. You can create rich text content controls for each version of the boilerplate text, and then use a building block control as the container for the rich text content controls.

building block gallery control

Select Developer and content controls for the building block.

Developer tab showing content controls

Insert a combo box or a drop-down list

In a combo box, users can select from a list of choices that you provide or they can type in their own information. In a drop-down list, users can only select from the list of choices.

combo box button

Select the content control, and then select Properties .

To create a list of choices, select Add under Drop-Down List Properties .

Type a choice in Display Name , such as Yes , No , or Maybe .

Repeat this step until all of the choices are in the drop-down list.

Fill in any other properties that you want.

Note:  If you select the Contents cannot be edited check box, users won’t be able to click a choice.

Insert a date picker

Click or tap where you want to insert the date picker control.

Date picker button

Insert a check box

Click or tap where you want to insert the check box control.

Check box button

Use the legacy form controls

Legacy form controls are for compatibility with older versions of Word and consist of legacy form and Active X controls.

Click or tap where you want to insert a legacy control.

Legacy control button

Select the Legacy Form control or Active X Control that you want to include.

Set or change properties for content controls

Each content control has properties that you can set or change. For example, the Date Picker control offers options for the format you want to use to display the date.

Select the content control that you want to change.

Go to Developer > Properties .

Controls Properties  button

Change the properties that you want.

Add protection to a form

If you want to limit how much others can edit or format a form, use the Restrict Editing command:

Open the form that you want to lock or protect.

Select Developer > Restrict Editing .

Restrict editing button

After selecting restrictions, select Yes, Start Enforcing Protection .

Restrict editing panel

Advanced Tip:

If you want to protect only parts of the document, separate the document into sections and only protect the sections you want.

To do this, choose Select Sections in the Restrict Editing panel. For more info on sections, see Insert a section break .

Sections selector on Resrict sections panel

If the developer tab isn't displayed in the ribbon, see Show the Developer tab .

Open a template or use a blank document

To create a form in Word that others can fill out, start with a template or document and add content controls. Content controls include things like check boxes, text boxes, and drop-down lists. If you’re familiar with databases, these content controls can even be linked to data.

Go to File > New from Template .

New from template option

In Search, type form .

Double-click the template you want to use.

Select File > Save As , and pick a location to save the form.

In Save As , type a file name and then select Save .

Start with a blank document

Go to File > New Document .

New document option

Go to File > Save As .

Go to Developer , and then choose the controls that you want to add to the document or form. To remove a content control, select the control and press Delete. You can set Options on controls once inserted. From Options, you can add entry and exit macros to run when users interact with the controls, as well as list items for combo boxes, .

Adding content controls to your form

In the document, click or tap where you want to add a content control.

On Developer , select Text Box , Check Box , or Combo Box .

Developer tab with content controls

To set specific properties for the control, select Options , and set .

Repeat steps 1 through 3 for each control that you want to add.

Set options

Options let you set common settings, as well as control specific settings. Select a control and then select Options to set up or make changes.

Set common properties.

Select Macro to Run on lets you choose a recorded or custom macro to run on Entry or Exit from the field.

Bookmark Set a unique name or bookmark for each control.

Calculate on exit This forces Word to run or refresh any calculations, such as total price when the user exits the field.

Add Help Text Give hints or instructions for each field.

OK Saves settings and exits the panel.

Cancel Forgets changes and exits the panel.

Set specific properties for a Text box

Type Select form Regular text, Number, Date, Current Date, Current Time, or Calculation.

Default text sets optional instructional text that's displayed in the text box before the user types in the field. Set Text box enabled to allow the user to enter text into the field.

Maximum length sets the length of text that a user can enter. The default is Unlimited .

Text format can set whether text automatically formats to Uppercase , Lowercase , First capital, or Title case .

Text box enabled Lets the user enter text into a field. If there is default text, user text replaces it.

Set specific properties for a Check box .

Default Value Choose between Not checked or checked as default.

Checkbox size Set a size Exactly or Auto to change size as needed.

Check box enabled Lets the user check or clear the text box.

Set specific properties for a Combo box

Drop-down item Type in strings for the list box items. Press + or Enter to add an item to the list.

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Microsoft’s update on the state of the Xbox business — whether Xbox exclusive games are going multiplatform and what the Xbox console business will look like — will be revealed on Thursday, Feb. 15. Microsoft Gaming CEO Phil Spencer, Xbox president Sarah Bond, and head of Xbox Game Studios Matt Booty promise to share updates on the Xbox business in the Official Xbox Podcast, according to a post on X from the official Xbox account .

Thursday’s special edition of the Official Xbox Podcast will available to watch on YouTube “or wherever you listen to your podcasts,” Microsoft said, including Spotify and Apple Podcasts . The business update episode of the Official Xbox Podcast will go live on Thursday at 3 p.m. EST/12 p.m. PST.

The discussion between Spencer, Bond, and Booty will hopefully address roiling rumors and reports that various Xbox-exclusive games, including titles like Sea of Thieves , Hi-Fi Rush , Indiana Jones and the Great Circle , and Starfield , might be making their way to PlayStation and Nintendo consoles. In early February, Spencer addressed the flurry of rumors in a roundabout way, promising concrete details about what’s next for the Xbox brand and platform.

“We’re listening and we hear you,” Spencer said on X . “We’ve been planning a business update event for next week, where we look forward to sharing more details with you about our vision for the future of Xbox. Stay tuned.”

The future of Xbox will reportedly still have a hardware component. According to a report from the Updater newsletter, Spencer recently told Microsoft employees at a town hall meeting that there are no plans to stop making Xbox consoles, part of a strategy that involves “multiple kinds of devices.”

Microsoft is already in the multiplatform game business, thanks to acquired properties like Minecraft, Call of Duty, Diablo, and Overwatch. But if franchises typically associated as Xbox-only, like Halo, Gears of War, Forza, and Fable, are going to PlayStation and Nintendo consoles, it would signal a radical departure from Xbox’s past. We’ll know more on Thursday.

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In tense proceedings in Georgia, a judge will decide whether Fani T. Willis, the Fulton County district attorney, and her office should be disqualified from their prosecution of former President Donald J. Trump.

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A company lost $25 million after an employee was tricked by deepfakes of his coworkers on a video call: police

  • A company lost $25 million after an employee was tricked by deepfake versions of his colleagues, Hong Kong police say.
  • The person had attended a video call with deepfakes of the firm's UK-based CFO and other colleagues. 
  • Hong Kong police said scammers created the deepfakes based on publicly available video.

Insider Today

Scammers made off with about $25 million after they used deepfake technology to trick an employee at the Hong Kong branch of a multinational company, local media reported on Sunday, citing the city's police.

In January, an employee in the company's finance department received a message from someone who said they were the company's UK-based chief financial officer, South China Morning Post reported, citing police. The employee then had a video call with the company's CFO and other company employees — all of which turned out to be deepfakes.

Based on instructions they got during that call, the employee transferred HK$200 million, or $25.6 million, to various Hong Kong bank accounts across 15 transfers, according to the SCMP.

It was a week into the scam, when the employee contacted the company's headquarters, that they realized something was wrong.

The Hong Kong police did not name the company or employees involved. They said scammers created deepfakes of meeting participants based on publicly available video and audio footage, per SCMP.

The employee who was scammed did not interact with the deepfakes during the video conference, according to the media outlet.

Investigations are ongoing, although no arrests have been made, according to the media outlet.

Deepfake videos are causing global concerns. Superstar Taylor Swift is one of the latest to be caught up in a wave of sexually explicit deepfake videos that went viral on X and Telegram last month.

Many politicians are calling for a federal law to combat deepfakes.

In May 2023, Democratic Rep. Joseph Morelle introduced the Preventing Deepfakes of Intimate Images Act that would make it illegal to share non-consensual deepfake pornography. The bill has been referred to the House Judiciary Committee.

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  29. Company Lost $25 Million After Employee Tricked by Deepfakes on Call

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