What is a key metric a fitness professional should include in their business plan?

Including expected client lifetime value in a fitness professional's business plan is crucial because it provides a comprehensive understanding of the long-term revenue potential generated by each client over their relationship with the business. This metric helps to inform various aspects of the business strategy, such as pricing, marketing investment, and retention efforts.

By understanding the expected lifetime value, fitness professionals can make more informed decisions about how much they can spend on customer acquisition, which marketing channels to prioritize, and how to develop programs that encourage long-term engagement. It also allows professionals to assess the effectiveness of their services and identify opportunities for upselling or cross-selling additional services, thereby enhancing overall profitability.

Incorporating this metric ensures that the business plan is not just focused on short-term gains but is also aligned with sustaining growth and fostering ongoing client relationships, which are essential for success in the fitness industry.