Starting a Fitness Business

Business Planning

Statement of Purpose and Business Structure

Bobby

Remember, your statement of purpose might be something that investors or advisors would read. It is not likely that potential members or clients would read it. As you create your mission statement and your statement of purpose, you might find it helpful to keep in mind that potential members would read one (the mission statement) and potential investors would read the other (the statement of purpose).

Give some thought to what you would like the purpose of your company to be. For now, it does not have to be very specific. Here’s a chart to help the ideas start to flow.

Once you have given thought to your statement of purpose, you’re then ready to consider the structure of your business. We reviewed several types of business structures in your text (pages 26 to 30). Now it is time for you to once again help our entrepreneurs. With our entrepreneurs’ statements of purpose, mission statements, and personal visions in mind, try to select the most appropriate business structure for Mary, Ron, and Monica.