Fitness-industry start-up needs a toehold. Where to begin?
Dear Karen: I am researching business start-ups in the fitness industry. Where can I get information on this market niche?
Answer: The “fitness industry” contains many niches; equipment, training, classes and supplements are just a few. First, narrow your focus. Second, broaden it to the larger economy.
Industry trade publications often do surveys, track trends and publish research, said Seena Sharp, author of “Competitive Intelligence Advantage.”
“There are dozens -- if not hundreds -- of publications and newsletters, online and in print, focused on health and fitness,” she said.
A few places to start: ClubIndustry.com and FitnessManagement.com. Associations are also great sources: Try the IDEA Health & Fitness Assn. at www.ideafit.com and the National Independent Health Club Assn. at www.nihca.org.
The general business press covers the fitness industry and can give you a broader perspective, particularly on consumer spending trends.
“Everyone’s cutting back, but people are still spending on things that are important, like health,” Sharp said. “Knowing how they’re spending can help you come up with a start-up model that fits the times.”
With Google ads, use trial and error
Dear Karen: What strategy should I use for advertising on Google?
Answer: The right strategy is the one that works for you, so be prepared to experiment.
Ethan Siegel, president of Orb Audio in Sherman Oaks, started his business spending $20 a day on Google ads, trying various combinations of keywords. “The raw data you get back is astounding. Even in a month, you learn so much about the potential market” for your business, Siegel said.
Test keywords at Google Trends, at www.google.com /trends, and use the most popular for your ads. Make those ads straightforward rather than cute or clever, Siegel said.
And don’t limit your online advertising to Google. “Run your ads on sites that match your users’ demographics and interests,” Siegel said. Again, experiment to find out what works, track results closely and refine your strategy over time.
Phone systems for small offices
Dear Karen: My small company is in need of an updated telephone system. Any advice?
Answer: In the past, business telephone systems were cost-effective only for firms with 20 or more employees. Today, even very small companies can take advantage of “line leverage,” in which one business line supports two or three telephones.
“This cuts the monthly cost of the phone line per person by 50% or 66%,” said Kent Hellebust, chief marketing officer of Telanetix, a digital phone service firm in Bellevue, Wash.
Look for equipment discounts, financing options, risk-free trial periods and unlimited long-distance packages. “Small businesses need to avoid large upfront equipment charges,” Hellebust said. “And paying per-minute charges is not something you should be doing, except for international calls.”
Many retailers no longer charge for installation, he said, so shop around and don’t get stuck paying to have your equipment and wiring put in.
Got a question about running or starting a small enterprise? E-mail it to inbox.business @latimes.com or mail it to In Box, Los Angeles Times, 202 W. 1st St., Los Angeles, CA 90012.
