The Framework of Starting your Own Business

[Contrarian]

• Will be sharing a detailed analysis of each step involved in starting a business according to researched information and my experiences. I will use the business of a fitness instructor as an example, it's an easy type of business to build a framework for. 
• Additionally, I will provide useful resources such as tech tools and free marketing tools available on various websites, as well as tips on the most effective strategies to use.
• This framework can be applied to any type of business; you will just need to adapt it to your specific needs.

(=)

Basic Framework | Fitness Instructor.  🏋️‍♂️
*This thread will be ongoing for a few weeks, feel free to contribute if you want. 

1. Conduct Market Research

• Identify your target audience
• Conduct a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats)
• Identify your competitors and evaluate their offerings

2. Create a Business Plan

• Determine your business model
• Develop a marketing plan
• Determine your financial projections

3. Establish Your Business

• Choose a business name
• Register your business
• Secure any necessary licenses and permits

4. Build Your Brand

• Create a brand identity (logo, colors, fonts, etc.)
• Develop a brand voice
• Build a website that reflects your brand

5. Develop Your Marketing Strategy

• Choose the best marketing channels to reach your target audience (social media, email marketing, paid advertising, etc.)
• Develop a content strategy to engage your audience
• Build a social media presence and engage with your followers

6. Launch Your Business

• Develop a launch plan
• Host a launch event
• Reach out to local media to gain exposure

7. Monitor Your Progress and Adjust Your Strategy

• Track your metrics (sales, website traffic, social media engagement, etc.)
• Use the data to adjust your marketing strategy
• Continuously improve your offerings to meet the needs of your customers

For the first episode, which will be in a few days, the focus will be on conducting market research as Step 1.

Stay tuned ->

Edited May 15 by Contrarian
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[herbie]

How to fail at business:

See another guy's making money and do the same thing thinking you'll undercut his prices or that customers will "like" you better.
Start a restaurant with "Family Dining" or "Home Style Cooking" in the name.
Or my latest hear on how to go tits up as fast as possible in 2023: open a "Steak House".
Open a Take Out featuring ice cream as far away from a park or beach as possible, and close early and on weekends and holidays.
Assume customers have enough brains not to drive 100 miles to save $5, or the opposite - charge $300 extra thinking they won't drive 100 miles.
Never have stock, but always tell customers you can order it for them. They can too on Amazon, delivered faster and cheaper than you can.
 

[herbie]

Closed my storefront business years ago, stole the choice customers from the buyer and work out of my home with no overhead, no employees, no set hours and keep the tax advantages. Scaling even that back this summer.
Seen far too many people try stuff here with ill thought business plans, and not realize the banks and gov't are quite happy to see you struggle so long as they rake in the dough.
Realize the gov't rakes in 12-15% in sales tax on your gross sales while you do all the work and wish you could earn even close to that.

 

[Contrarian]

First Episode. 

Business of a fitness instructor in Barrie, Ontario

1. Conduct Market Research

a) Identify your target audience

• Determine the demographics and preferences of your ideal clients in Barrie, such as age, fitness goals, and interests.Conduct market research to understand the local fitness trends and demands. Call the fitness centers and have a conversation with their managers. 

b) Conduct a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats)

• Evaluate your strengths as a fitness instructor, address weaknesses, explore opportunities like partnerships with local gyms or wellness centers, and assess potential threats from competitors or market dynamics.

c) Identify your competitors and evaluate their offerings

• Research other fitness instructors and facilities in Barrie. Analyze their strengths, weaknesses, pricing, and customer reviews to differentiate your services and create a unique value proposition.
• Use Google Maps to locate the fitness centers in Barrie, Ontario, and take advantage of their rating system to conduct research and gain insights into the reputation and customer satisfaction of these establishments.

Data for Barrie:

• Barrie has a population of approximately 153,356 people
• The city has a growing fitness culture, with numerous gyms, health clubs, and wellness centers catering to a diverse range of fitness enthusiasts.
• Barrie's active lifestyle community presents opportunities for offering specialized fitness programs, such as group fitness classes, personal training, or niche workouts tailored to specific demographics.
• The city's natural surroundings, including parks, trails, and waterfront areas, provide options for outdoor fitness activities and unique training experiences.

Episode 2 will be in a few days about: 

Creating a Business Plan

• Determining your business model
• Developing a marketing plan
• Determining your financial projections

Edited May 16 by Contrarian
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[Contrarian]

Second Episode.

Business Plan

• You can further develop each section as needed, incorporating more details, financial analysis, and specific strategies tailored to your ideas. I am not going to do the work for you. 😎

Company Overview:

• Briefly introduce your fitness instructor business and its purpose.
• Highlight your qualifications, certifications, and experience.

Target Market:

• Identify your target audiences, such as individuals seeking personal training or group fitness classes.
• Describe their demographics, fitness goals, and preferences.

Services Offered:

• Outline the fitness services you provide, including personal training, group classes, or specialized programs.
• Emphasize the unique benefits and value proposition of your services.

Marketing Strategy:

• Describe your marketing approaches, such as social media promotion, local partnerships, or word-of-mouth referrals.
• Highlight your online presence and engagement with the local fitness community.

Operational Details:

• Specify the location (if applicable) and equipment needed for your fitness sessions or classes.
• Outline the scheduling options, including session durations and availability.

Pricing and Revenue:

• Explain your pricing structure, considering factors like market rates and the value of your services.
• Estimate your revenue based on projected client numbers and pricing.

Competitive Advantage:

• Identify what sets your business apart from competitors.
• Emphasize your unique expertise, personalized approach, or innovative programs.

Growth Opportunities:

• Discuss potential avenues for business growth, such as expanding into new fitness niches or offering additional services.
• Mention the potential for partnerships with local gyms or wellness centers.

Financial Projections:

• Provide a high-level overview of your financial projections, including anticipated expenses and profitability.
• Consider factors such as marketing costs, equipment investments, and operational expenses.

Conclusion:

• Summarize your business plan, highlighting the key points and the potential for success in the Barrie fitness market.
• Express your commitment to delivering exceptional fitness services and helping clients achieve their goals.

Episode 3 will be in a few days about: 

Establish Your Business

• Choose a business name
• Register your business
• Secure any necessary licenses and permits

Edited May 19 by Contrarian
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[Contrarian]

Third Episode.

Establish Your Business

Consider following this framework: 

Choose an attention-grabbing business name:

In a competitive market, it's crucial to select a business name that captures attention and resonates with your target audience. Aim for a name that is concise, memorable, and easy to pronounce. Consider using one or two-word combinations that reflect your fitness philosophy or evoke a sense of energy and motivation. Conduct a thorough search to ensure the name is unique and check for domain name availability to secure your online presence.

Register your business:

Formalize your business by registering it with the appropriate authorities. Research the registration process for your chosen business structure, such as a sole proprietorship, partnership, or incorporation. Registering your business not only lends credibility but also protects your personal assets. Follow the required steps and complete any necessary paperwork to ensure legal compliance.

Secure any necessary licenses and permits:

Before launching your fitness instruction services, ensure you have all the required licenses and permits. This may include fitness instructor certifications, liability insurance, and municipal permits. Check with local regulatory bodies and industry associations to understand the specific requirements in Barrie. Fulfilling these obligations ensures you operate your business legally and professionally.

Episode 4 will be in a few days about: 

Build Your Brand

• Create a brand identity (logo, colors, fonts, etc.)
• Develop a brand voice
• Build a website that reflects your brand

Edited May 22 by Contrarian
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[sharkman]

On 5/15/2023 at 2:14 PM, herbie said:

Closed my storefront business years ago, stole the choice customers from the buyer and work out of my home with no overhead, no employees, no set hours and keep the tax advantages. Scaling even that back this summer.
Seen far too many people try stuff here with ill thought business plans, and not realize the banks and gov't are quite happy to see you struggle so long as they rake in the dough.
Realize the gov't rakes in 12-15% in sales tax on your gross sales while you do all the work and wish you could earn even close to that.

 

That sounds like something you would do.  A swindler.  Hopefully your greed does you in like so many before you.

[sharkman]

21 hours ago, Contrarian said:

Third Episode.

Establish Your Business

Consider following this framework: 

Choose an attention-grabbing business name:

In a competitive market, it's crucial to select a business name that captures attention and resonates with your target audience. Aim for a name that is concise, memorable, and easy to pronounce. Consider using one or two-word combinations that reflect your fitness philosophy or evoke a sense of energy and motivation. Conduct a thorough search to ensure the name is unique and check for domain name availability to secure your online presence.

Register your business:

Formalize your business by registering it with the appropriate authorities. Research the registration process for your chosen business structure, such as a sole proprietorship, partnership, or incorporation. Registering your business not only lends credibility but also protects your personal assets. Follow the required steps and complete any necessary paperwork to ensure legal compliance.

Secure any necessary licenses and permits:

Before launching your fitness instruction services, ensure you have all the required licenses and permits. This may include fitness instructor certifications, liability insurance, and municipal permits. Check with local regulatory bodies and industry associations to understand the specific requirements in Barrie. Fulfilling these obligations ensures you operate your business legally and professionally.

Episode 4 will be in a few days about: 

Build Your Brand

• Create a brand identity (logo, colors, fonts, etc.)
• Develop a brand voice
• Build a website that reflects your brand

Perhaps you could lay out what expertise you have in starting a business in Canada.  Since you’re from some far away country, and didn’t you languish under communism?

[Contrarian]

1 hour ago, sharkman said:

Perhaps you could lay out what expertise you have in starting a business in Canada.  

Maybe look in the mirror, I am moving slowly my information out of here towards my own platform, you are here since 2005 and provided nothing of value to this board or to fellow posters except conspiracy theories and manipulation. 

This information is not for you, with all due respect, you keep doing what you are doing.

Edited Tuesday at 07:50 AM by Contrarian
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[sharkman]

Just now, Contrarian said:

Maybe look in the mirror, I am moving slowly my information out of here towards my own platform, you are here since 2005 and provided nothing of value to this board or to fellow posters except conspiracy theories and manipulation. 

This information is not for you, with all due respect, you keep doing what you are doing. 

The point is, you don’t have the expertise to help anybody start a business in Canada.  What you’ve provided so far looks to be out of first year college text books from 30 years ago. 
 

Stay in your lane, comrade.  

[Contrarian]

1 hour ago, sharkman said:

Stay in your lane

So, do something for this board and contribute here for others, show people what you know, so people can say Sharkman wrote something for them to use. 😄 Do some copy-paste from Michael Burry, one of your idols. I thought capitalism is about finding your own way, not being a follower, however, that is your business, comrade. 

Edited Tuesday at 07:51 AM by Contrarian
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[herbie]

Don't let a total imbecile shit-posting just to be an ass stop you. May not be relative to politics, but WTH

[OftenWrong]

On 5/15/2023 at 5:14 PM, herbie said:

and keep the tax advantages

Here's where you outed yourself as a criminal.

[herbie]

Duh! Another ignoroid speaks up. I suppose to you anyone who can deduct their legit business expenses is a criminal. How about their RRSP contribution, is that criminal too?

[Contrarian]

2 hours ago, herbie said:

stop you. 

Stop me?! Not at all. I'm actually busy with some normality in my day, for once. This thread is crucial for those who want to understand the concept of a framework. This information will be finished, to the very last episode.

While others are welcome to participate and share their views and expertise, it seems easier to simply sit on the sidelines and critique instead of coming here and passing something of value. 

• That's why the Romans invented the Colosseum-a place where people could point fingers without thinking outside the box.

Edited Tuesday at 11:59 PM by Contrarian
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[sharkman]

19 hours ago, OftenWrong said:

Here's where you outed yourself as a criminal.

It’s funny how swindlers and cheaters don’t see anything wrong with their nefarious activities even when it’s  pointed out to them.  They are outraged at the suggestion and wail on with the name calling.

A word to the wise is sufficient. 

[Contrarian]

2 hours ago, sharkman said:

It’s funny how swindlers and cheaters don’t see anything wrong with their nefarious activities even when it’s  pointed out to them.  They are outraged at the suggestion and wail on with the name calling.

A word to the wise is sufficient. 

However, my understanding is that @herbie worked in IT most of his life, and paid his taxes to society.

I thought when I saw a notification from this thread, finally, you are going to bring something aside from the usual, like a tip, you have them but are too good to share them?! The arrogance in some. 

So, when the real elitists mock you and laugh in your face, you act surprised. Don't act surprised, you are just acting as a mob member, that Caesar would take to the Colosseum so you can point the finger instead of doing something for society, like giving some business tips. This thread is anyone's property, if they want to leave something other than the Colosseum behavior. 

Edited Wednesday at 07:26 PM by Contrarian
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[herbie]

As usual, the loudmouths can't point out what they base their claims on. Merely spout them. All the time, without having the slightest clue about the subject they're spewing on about.

TIP: If you do work from home, remember you can claim home office expenses, either by the number of rooms in your house or by the square footage. Figure out which is better for you. You can't claim them to increase a loss, so figure out your other expenses first and if you're already at zero profit, don't waste your time even calculating them.

2 - If you deliver services on a reserve, or deliver goods to a reserve you don't charge the taxes. but you can still claim GST you paid to do so. Makes serving reserves even more profitable.

Edited Wednesday at 07:45 PM by herbie

[OftenWrong]

5 hours ago, Contrarian said:

This thread is anyone's property, if they want to leave something other than the Colosseum behavior. 

Oh it will get pretty quiet around here.  

[OftenWrong]

4 hours ago, herbie said:

As usual, the loudmouths can't point out what they base their claims on. Merely spout them. All the time, without having the slightest clue about the subject they're spewing on about.

TIP: If you do work from home, remember you can claim home office expenses, either by the number of rooms in your house or by the square footage. Figure out which is better for you. You can't claim them to increase a loss, so figure out your other expenses first and if you're already at zero profit, don't waste your time even calculating them.

2 - If you deliver services on a reserve, or deliver goods to a reserve you don't charge the taxes. but you can still claim GST you paid to do so. Makes serving reserves even more profitable.

Righht. I knew you were that wacked-out indian.

[herbie]

And aside from confirming you're a bigot, you're wrong on that one too.

[OftenWrong]

43 minutes ago, herbie said:

And aside from confirming you're a bigot, you're wrong on that one too.

No problem little herbie. You demonstrate you're a useless tit on a rooster every time you show up here.

[herbie]

Do you have anything at all to contribute to starting a business? Then GTF out of this thread.

TIP: Research your market. Then get someone who isn't in that line of business research your research. I've seen 4 people open 'breakfast & bagged lunch only' restaurants and go under. There hasn't been 750 millworkers and 350 trucks a day in this area for years. The banks and development agencies even handed out the loans to start them" they don't care if you fail. They'll loan money to you but not to your company, so you'll still owe them. Avoid personal loans to start a business.

[Contrarian]

4th Episode

Build Your Brand

Create a brand identity (logo, colors, fonts, etc.)
Develop a brand voice
Build a website that reflects your brand

• Establish a compelling and unique brand identity that accurately represents your fitness instructor's business.
• Utilize Canva as a helpful tool for creating logos, selecting colors, and choosing fonts that align with your brand. Like (=). 😎
• Recognize the significance of a logo in a fast-paced world, as it serves as a visual representation and aids in brand recognition.
• Ensure that your logo is simple, memorable, and relevant to your fitness niche.
• Familiarize yourself with the dimensions of social media banners:
  Facebook cover photo: 820px (width) x 312px (height).
  Twitter header photo: 1500px (width) x 500px (height).
  LinkedIn cover photo: 1584px (width) x 396px (height).
  Instagram banner: No specific dimensions, but aim for a square logo with a minimum size of 110px x 110px.
• Craft a consistent and compelling brand voice that resonates with your target audience and reflects your fitness values and personality.
• Develop a professional and user-friendly website that showcases your services, client testimonials, and contact information. If you do not have money for a professional, you can use websites such as Wix, Square Space or if you know more in terms of websites, Digital Ocean with a great price for WordPress.
• Ensure that your website is responsive and optimized for mobile devices to provide a seamless browsing experience.
• Incorporate your branding elements consistently throughout your website, such as your logo, colors, and fonts.
• Leverage the power of social media platforms to expand your brand's reach and engage with your target audience.
• Create a well-defined content strategy for social media, offering valuable fitness tips, motivational content, and updates on your services.
• Actively engage with your social media followers, responding to comments, fostering interaction, and nurturing a sense of community.

Episode 5 will be in a few days about: 

Develop Your Marketing Strategy

• Choose the best marketing channels to reach your target audience (social media, email marketing, paid advertising, etc.)
• Develop a content strategy to engage your audience
• Build a social media presence and engage with your followers

Edited Thursday at 11:02 PM by Contrarian
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[herbie]

Trick I used - needed a new work truck and as we were IT the biggest thing I had to carry was a ladder. Sometimes an antenna.

I bought one of those Kei trucks, painted a candy apple racing stripe and a couple Vistaprint magnetic signs for on the doors. $5000.
Within a couple weeks everyone knew who we were, what we did and got the idea "tiny truck means small prices".
Got more results than $100,000 worth of TV ads.

When I sold the business the new guy didn't want no stoopid little truck - just take it away. Had it 5 more years of offroading then got half my money back when I sold. The kid that bought it added a $1000 used set of Mattrax some wrenching and detailing and sold it to a prospector for $7500...