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Editorial by Juan Carlos Lopez Olympia Time We should have out booth again this year, hope to see all the fans at the show. We should have the new 2011 HardFitness Calendars and the women shirts. We will be posting on the main page the athletes that will be at the booth. Starting your own business? The fitness industry seems to be the industry that has many big failures when it comes to business. The reason is that its market is limited. There is a very small portion in the world that are hardcore about their diets and training. So that will alienate whatever product you make even more. Everyone needs toilet paper, dishwasher, soap and other similar items. If you go to the store there aren't that many manufacturers. Now if you go to a supplement store and look for protein bars there are hundreds of bars from different companies. Trying to make a product in a market that is already saturated and is a niche market is suicide but people still try to do it. The other problem is the cost, a protein bar and selling it is a very costly adventure. The advertising is expensive, the product making is too and distribution is cumbersome. So starting small is really the best thing to do, but now protein bars and powders are pricey, pills will be the best bet if you ask me. But most companies think pills won't sell and that might be true. Humans want flavor and something more than just popping a pill before a workout. Now the other end to a business in any industry is to plan accordingly. A good business plan no only has the market value well studied but also the budget well planned. The trick in any business is to spend less money not to sell more. Every company should reduce their spending budget every year and be smarter about how they spend. Look at the Olympia floor plan, whomever is at it every year is a stable company if you are marketing towards the fitness industry. Those that are not consistent means their business is not doing good. I can see already on the floor plan a few companies that are not coming to a rather large show because they would be spending a lot of money on booth and they are not doing good financially. So plan smart... JC |
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