Market analysis and business plan for a gym

Market analytic thinking and c each(prenominal)ing plan for a guerillaary schoolStayfit gym is a privately owned strain which is positioned at 15 Menai Road, Menai. The estimated theory date is noble-minded 2010. The establishing business, Stayfit gym is dedicated to leave the best personal fittingness expediency. The burster is to send offer the general humanity with the allowpower to set finish offable finishs and to reach ultimate wellness and fittingness level. The business entrust take a holistic approach to lifestyle, wellness and fitness management and performance well-nigh the clock to provide the public with practical and innovative fitness programs that flexibly put together into busy lifestyles.Stayfit gym go out include of 1-20 employees making it to be a small business. Stayfit gym will be registered as a sole principal ownership (Mar unwrapcha Hadwan) meaning it is an incorporated business with one owner. The owner is liable for all decisions ma de within the business and is able to retain all profits. Funding for the business is finished the owners legality and bills and money borrowed from financial institutions. An advantage of a sole trader is that all profits go to the one person unlike a dissociatenership the profits made ar split evenly betwixt all partners in the business. The risks in opening this business as a sole trader be that the owner of the business is personally responsible for the debt incurred by the business (unlimited liability). In the event that the business is unable to welcome its financial obligations, the owner mustiness take responsibility for finding bills to conciliate off all debts, the owners personal assets be all at risk of the business does non succeed.Purpose of objectPlanning is chief(prenominal) to guide the business, the purpose of this business plan of that it gives clear direction for the emerging of Stayfit gym, it overly increases awareness of opportunities arising in gain ground coming(prenominal) growth. It admirers the business encumber failure and to achieve goals. Stayfit gym holds many different goals much(prenominal) as personal, social, and financial which consist of the following goalsPersonal GoalsUpholding a good designBeing a sole trader ( macrocosm their own boss)Satisfaction from your workSocial GoalsHelping the general public improve their fitnessTo overhaul children over come obesityFinancial GoalsGaining maximum wealth reservation a great profitSituation psychoanalysisSWOT abbreviationThe SWOT analysis provides the business with an opportunity to examine the susceptibilitys and weaknesses Stayfit lycee must address. It also allows the business to examine the opportunities presented to Stayfit gym as well as possible threats.StrengthsWeaknessKnowledgeable and friendly staffTop of the spot equipmentFlexible operating hoursComplementary serviceWomens roomFree pose for all gym membersChildmindingNewnessViable worker s may leave the gym social status feesHigh health care costsPoor brand delineationHigh staff turnoverOpportunitiesThreatsOpening more gyms in the futureGrowing population interested in fitnessBuy by a competitorGrowing economyIncreasing high health conscious populationNew use of goods and services trendsNew government health care regulationsDecease in the number of competitorsDeclining economyLocal competitors transmit in government regulationsEquipment shortageDecreasing local populationCompetitors outlineThe three main competitors for Stayfit gymnasium areFitness firstly MirandaGoodlife Gym MenaiContours IlawongFitness freshmanAs fitness first creation a well known Gym nationwide, it then has the major solve on Stayfit Gym. As Fitness First being the main competitor because they provide offer better prices and more services, product and ease up more peachy behind them and are able to take more risks than a impertinently established Gym like Stayfit. An advantage f or Stayfit Gym is that Fitness First doesnt not offer flexible contracts, like Stayfit Gym, as for example at Syatfit Gym we do not charge marrowing fees, as for fitness first do.Goodlife GymGoodlife Gym is an other competitor which also has an influence on Stayfit Gym for it being set nearby. It also influences Stayfit Gym as it is well known in the area, and has been open for a long purpose of time. This gives a reason why Stayfit Gym offers better and suitable determine which will benefit those who are willing to lose weight for an low-priced price.ContoursLike any other competitor, Contours is also well known end-to-end Australia, as well as the local community. Unlike Fitness First, and Goodlife Gym, Contours is a circuit gym as well as an all ladies gym, this being one their weaknesses which benefits Stayfit Gym. Although, Contours offers those women who are not confident and comfortable working start in front of men the luxury and comfort to work out, this forte is a major disadvantage towards Stayfit Gym as the majority of women may prefer this environment.Market depth psychologyStayfit offers everyone, no matter your age, anyone looking to unbend weight anyone looking to get fit, and anyone looking to stay fit With Australia being the fattest nation on earth there is an ever more increase need for easily accessible gyms with these facilities like Stayfit Gym who target and encourages wad to exercise and get fit, as well as the opportunity to be in possession of fun.As the main aim of this business is to overcome obesity, Stayfit Gym in the first place targets those who are overweight, obese, and morbidly obese. Statistics show that the main reason why Australias unconquerable to join a gym and take over a legal life style is to loose weight and this is shown in the table below.For further information visit the following websitehttp//www.executiveresults.com.au/health-and-fitness-statistics.cfmThe Marketing Mix ware priceStayfit Gym aims to provide top eccentric and safe equipment, which benefit members in weight loss.Stayfit Gym offers penetration and a discount set, as it is competing with other gyms who offer the same facilities and services as Stayfit Gym precisely for a better price.Discount pricing is offered for those who are students, and off-peak gym use, the prices reflect the quality of the equipment and service.PlacePromotionThe upcoming Gym will be located on 15 Menai Road, Menai. The population of this community has grown by 5% each year for the past three geezerhood, giving Stayfit Gym a better opportunity to gain more members of the public and customers to join and blend in apart of the Stayfit family.Stayfit Gym works to promote there services throughout advertising ads on local billboards, handing out flyers also by position up stands in local centres. Stayfit also wishes to promote their gym through T.V commercials as well as radio broadcasting.Market SegmentationThe trade segmentations for Stayfit Gym customer consists of the following geographic, demographic and behavioural factorsGeographicalThe present(prenominal) target region of Stayfit Gym is Menai, Illawong, and Alfords Point.As the population of these areas continue to increase, this will have a positive impact towards Stayfit.DemographicStayfit Gym targets 2 males and females from 15 geezerhood and over.Income range of $35,000 $75,000.BehaviouralRecognises that they need to improve their fitnessThose who have recognize that they need to lose weightThose who are willing to enjoy primitive sportMarketing Strategies and ObjectivesMarketing ObjectiveMarketing Strategy turn over competitorsKeep an update competitor profile exsert better pricing to the public (6months)Price levelMaintain a price level lower than competitors as then it will be harder for the competitor (4months)DiscountsOffer a range of discounts (9months)Online access to the gymTo build up an online website of the gym which will be easy for the members to access and also helps promote the business. (2months)EquipmentTo provide the gym with more equipment, and to improve facilities(12months)Sales ForceEmploy telemarketing staff (13months)Product AnalysisStayfit Gym provides individuals with the opportunity to exceed their fitness expectations, which are delivered through expert coaching, high-quality equipment, convenient scheduling and great exercise programs. The equipment division of Stayfit Gym offer the largest range of quality fitness equipment from the worlds conduct brands, includingTechnogymCybexPrecorZestLife FitnessEquipmentPositivesNegativesCardioTreadmillsElliptical cross-trainersExercise bikesStair climbers baksheesh trainersHaving a different range and variety of cardio equipment benefits Stayfit Gym, as having more facilities acquirable for the public will then attract more citizenry to join Stayfit.A negative of cardio equipment is that when equipment brakes or is miss used, also sentry duty issues , for example falling off equipment, this can give a hazardous reputation for Stayfit.StrengthChest pressBiceps pressTriceps press shoulder pressBench press asquint chest press rowlock pressDumbbellsTorso rotationChin dipIso gluteLateral chess pressVertical Ab trainerRowerHaving a wide range of strengthening facilities will also have a great benefit on Stayfit as other Gyms may not have the same equipment functional.A negative of strengthening facilities is that when one equipment brakes or is miss used, also safety issues, for example falling off equipment, this can give a bad reputation for Stayfit.Objectives and strategiesStayfits primary goal is to create a community committed to best functional fitness.ObjectivesStrategiesOur terminusic objective is to generate at least(prenominal) 20 sunrise(prenominal) members.This will be done through advertising Stayfit, also set down periodical trials of the gym andStayfit aims to open and run a mental quickness at sufficient cap acity within the first year with 150-200 members.This will be carried out by providing new members better opportunities and pricing.Better membership deals by the second year of operationsOffering on-peak and off-peak membership, this will be better for people who want to use the gym during hours when not busy. For example, during the day when school kids are at school.To franchise Stayfit in other areas towards the further futureThis will be done by upholding the right image and keep a good reputation for Stayfit.To make people fit and healthyThis will be done through providing the right exercises, staff and classes that will help the general public stay fit and healthy.To make profit and pay off all debts within 1st two years of openingThis will be done by having more members entering the Gym, and with that money Stayfit will then be able to payoff debtMore classes available by 6 months of operations (zumba, urban dance, and etc)By hiring staff that are able to carry out these cla sses.Provide the only fitness facility truly dedicated to solving the fitness needs of our customersThis will be done through providing the highest quality equipment available, constantly keeping our staff up to date on certifications, providing a clean and crowd-free gym.Description of product/serviceAt Stayfit Gym we provide you with comfortable surroundings, with the latest facilities and equipment to facilitate your cookery and exercise needs. Stayfit also aim ensure that the members receive a godforsaken exercise insure. Stayfit aims to provide the following classes/sessions free weights, kick packing material, personal training, cardiovascular, and group cycle we also offer professional instruction, well-balanced and enjoyable workouts which focus upon strength gain, aerobic conditioning, weight loss and increasing fitness levels. Stayfit Gym also provides a womens only room, including both cardio and strengthening equipment. Stayfit Gym also provides childminding, for thos e who have young children and want to achieve the ideal fitness levels.Our services are directed at maximizing your health and fitness levels in a safe, productive and exciting environment to give you a fantastic health and fitness experience.We also offer a range of drinks to freshen in between workouts, towels also a wide range of protein shakes and supplements, Stayfit also offers free and convenient private parking for all members of the gym.PricingNO association fees or administration feesFree weekly trial pass for new members $59012 Months up front $59012 Months off peak $5406 months $3503mothns $2201month $7510 day gym pass $60 mundane Visit $1010% Discount for students Under 18 years oldTrading HoursMonday to Friday 5am 10pmSaturday 7am 7pm sunlight Public Holidays 8am 5pmWorkout TimetableMondayTuesdayWednesdayThursdayFridaySaturdaySunday6.00am automobile trunk handle tree trunk BalanceBody Pump complete Burner7.00amBody AttackBody CombatBody Balance swag9.00amSpin1.00 pmSpinBody Combat modify BurnerBody PumpBody Attack3.00pm shiver BoxingKick Boxing5.00pmFat BurnerBody BalanceBody Attack7.00pmKick BoxingBody PumpSpinSession/ trend timetable available for members and general publicClass DescriptionBody Pump Non-impact class created to shape and lumber the entire body, using weights and barbells.Body Attack High intensity strength, aerobic exercise and stabilization exercises.Fat Burner Standard high energy aerobic exercise.Body Combat aerobics based on a variety of exercises, such as Tai Chi, Karate, Boxing and Taekwondo.Spin Calorie and fat burner cycle exercise.Body Balance A class combining Yoga, Pilates and Tai Chi.Kick Boxing Circuit kick fistfight, using high energy boxing techniques and stations.For those who are members of Stayfit Gym all classes are free, and for those who wish to take part of these classes pay $5 per class.Staffing RequirementsThe manager, who will also be the owner of Stayfit Gym (Maroutcha Hadwan), will be qualified to hold the following certificates credential in Fitness certificate in Personal TrainingFirst promote CertificateDiploma in FitnessIt is preferred that the manager has front experience in field, as Stayfit Gym is dedicated to provide a diverse range of programs suitable for all people.Job Title criterionSkills, Qualifications and ExperiencesReceptionist1Computer skillsCommunication skillsSocial skillsFirst support CertificateChild minding2At least 2 years experience prior tooCertificate in child careCertificate in First promotePersonal trainers7First Aid CertificateCommunication skillsCertificate in fitnessCertificate in Personal Training specialized in karateSpecialized in boxingSpecialized in aerobicsSpecialized in cyclingSpecialized in body buildingMust have at least a year experience prior to working at Stayfit Gym, as we are dedicated to provide the public with the best of our ability.Dieticians2First Aid CertificateMust have at least 1-2 years experienceCertificate in die ticianSpotters9First Aid CertificateSpecialized in YogaSpecialized in PilatesSpecialized in Tai ChiSpecialized in cyclingCertificate in fitnessSocial skillsMust have at least a year experienceFinancial ForecastsRevenue logical argument for Stayfit Gym Pty LtdFor the period ending 01/08/2011Cash Flow StatementsCash Flow Statement for Stayfit Gym Pty LtdFrom period ended 01/08/2012Opening Cash Balance $415,000.00This projected coin flow statement shows that this upcoming business will be Surplus, as of the period ended 2012 whereas the closing chase balance was a greater amount of money than the opening cash in balance.Critically round off of the Plan and ProcessThroughout this business task I managed to meet all deadlines and make sure everything was up to date. My weaknesses throughout this assignment was the Market Analysis and Financial Forecast, where as I was unsure how to complete both sections. In relation to Market Analysis, I feel that I havent covered all sections in th is heading. For financial forecast I first started of with balance tacking, but i was unable to complete this section as my balance sheet was not balanced so I then chose to complete the cash flow statement and revenue statement, I also struggled to completed these two finical records.Overall my progress within this assignment was satisfactory, and I am happy with my overall work, as I never knew I was suitable to completing this task meeting the criteria.IndexDescription of Business self-command2Purpose of Plan3Situation Analysis4-9 cram Analysis4Competitor Analysis5Market Analysis6 -8Product Analysis9Objectives and Strategies10Description of Product/Service10 -11Pricing11Trading Hours11Class Timetable12Staffing Requirements13Financial Forecasts14 15Revenue Statement14Cash Flow Statement15Critically Review of Plan and Process 16