A marketing plan for a small gym

A merchandiseing plan for a sm both secondary schoolnasiumI pull up stakes be opening a small occupancy. It result be a lyceumnasium called increase Yourself. It is a private line of credit, this seemed fit because it is a forward-looking line of reasoning and incase it fails, I depart constitute limited liabilities. The Goal of any melodic phrase would self-explanatoryly be to decl be a gather, exactly to enjoy yourself whilst doing so is important.The goal of enjoying is going to happen automatically because I acknowledge fittingness tuition and being suitable to serve others master their fitness goals feeds it all worth the while. To first low the business and start reservation quick meshing, debts argon required to be repaid, bank overdrafts allow be paid as soon as possible to jump start the profit making process. The gym hit-keyers frightful servicings and harvest-homes including, clothing, supplements, and protection gear and of short let ter fitness breeding.The gym go away sop up 6 employees including 2 women and 4 men. The women will be mostly concerned with packing and fitness bringing up and the men focus much(prenominal) on the important gym direction, boxing, and excessively rehabilitation done by myself. All employees are able to answer any questions that members power hold back, give tips on how to do exercises, and blush offer nutritional plans to those of whom are looking to improve their diets.The gym is located in Ryde because in that location are no other gyms in the area and it is a heights traffic area. in that location is in any case a pool near and sporting clubs in Ryde making it an advantage because sizable deal would indigence to stay in shape and have nice bodies to show off. overly the fact that at that place are no competitors nearby makes it less of a hassle to have to constantly come on up with competitors. The gym is open 7 days a week, from 8 am to 8pm on Monday to F riday and 8 am to 6pm on Saturday and Sunday. increase yourself gives indemnity offers whether its free boxing and fitness reading classes, or discounts for multiple members entering at once, discounts for nation who signify others and of rail line for loyal long term members.This business is all about, overcoming objectives using various strategies, achieving goals, helping people with their fitness goals, and enjoying a job at a gym. Because the gym is in the establishment stage it require to build a reputation, and to do this we are giving special trial offers and also advertising via commercials and radio set broadcasts, etc.Business Description and OwnershipIt will be a small business, its called Maximize Yourself, it will be a Private Company because it is a new business and if it fails it will limited liabilities. The goals of the business will be to make a profit and to do this it will need to build a reputation, starting with ads equivalent commercials showing free trial offers and deducted prices on equipment in the opening calendar month to perplex some customers. It will be located in Ryde because there arent many gyms there and its a high traffic area. I will be the owner and start off with 6 employees that have own(prenominal) formulation experience to help customers with training and they will delay all equipment is in place and help with questions that members might have. Employees will rotate between jobs and I will manage financial statements standardised capital ply in and out of the business. The purpose of the business is to help people with physiologic goals whether its building or losing weight and in doing this make profit. I will need to manage my funds for the equipment I will be buying with a loan and then re acquit them when I dirty dog.Purpose of planPreventing chastening and guiding a business to achieve its goals is the chief(prenominal)(prenominal) purpose of a business plan. By fit tar selects for the busi ness a giving a design it enables it to evaluate its progress against identified reference points.In order to have a clear direction with the business and a path for the future a well written business plan mustiness be make upd. It can show how the business could perform in the future and the priorities that are set for the business.The goals of Maximize yourself includeMaking a profit ( pecuniary goal, minuscule term/long term)Satisfaction in work self achievement (Personal goal)Long term shelter Financially (Financial goal, long term)Sponsorship by supplement/ body fitness companies (Social goal)Successful business (Personal goal/Financial goal, long term)Increasing commercialise luck (Financial goal)Help people achieve their physical goals (Personal goal/ hearty goal)According to the text obligate a business plan outlinesA description of the business (Name, address, organisation and trouble)The businesss goalsA market analysis Customer needs and size of the marketThe g oods and/or overhauls the business providesThe effort in which the business operatesMarketing/production/financial/employment relation strategies.Situation AnalysisThis is to make an analysis of the ar point of the business at the present timeSWOT analysisStrengthsGreat Locations put up new equipmentNo bad perspectives of the business because its newBuildable reputation based on inspection and repair full(a) managerSkilled and qualified Workers bang-up use of technology4 rooms (gym room, fitness training room, boxing room, rehabilitation room)Great reputation (over 100 members)New and updated equipmentLarge rooms for easy transition between equipment and roomsWeaknessesLow amount of staff and therefore longer shiftsStill an expanding financial positionHigh be required for quick gainNo reputationOpportunitiesExpanding to new locationsA maturation market means more people will participateCan attract more people due to it being a multigendered gymThreatsIncreased rent costsPoss ible changes in governmental regulations.Competitors (Runyaway gym)Competitor AnalysisRunyaway gymStrengthsLow pricesMany workersA lot of equipmentGreat reputationGood financeTrained employeesQualified and experienced managers and workersWeaknessesDue to it being popular it has high membership costsIts large reputation means that the secondary school could be filled with members at certain timesOpportunities oftentimes easy chance of expanding to new locationsLarge profit allows it to Buy out competitorsThreatsCompetitors ( fitness First)A lot of gyms are starting upLoss of members due to high costsMarket Analysisprovides enough info to convince a lender or investor that the business has enough existing or potential customers to achieve a certain amount of sales even though theres competitorsTar need Market and market searchThe reason maximize yourself is located in Ride is because there arent any gyms in that area, but there is sporting teams and swimming pools which will influ ence people to want to workout out, lose weight and look at fit, to look and feel better and what better way then joining the gym and pursuing their goals . The businesses main focus is Helping people achieve their physical goals with prices that wont burn a hole by their income. A place to socialise and possibly meet future husbands/wives and also to share tips and make new friends. withal teenagers will be a major topic, due to the fact that there is suddenly a revolution of mostly teenage boys wanting to get into shape a build muscles to show off to the girl in summer.- climb ond people, to keep their fitness levels up and maintain their dietary needs.-Lastly, mothers, having to lose those stubborn some pounds to achieve the body they had before getting pregnantMarket SegmentationThe division of the total market into small segments based on the similar characteristics of a customer group.This is a prediction of how many members the gym will have in the first 2 months, and the ir age range.AGEAMOUNT OF MEMBERS10-15516-181519-264426-351936+17This is a prediction of what areas of the gym they will be doingAge personifybuilding boxingBody FitnessCardio/weight loss room10-15140016-18942019-2624102826-354221136+15110Objectives and strategiesObjectives are proper(postnominal) goals. They need to be S.M.A.R.T which means they need to be Specific, Measurable, Achievable, Realistic and Timed.Key business functionsOperationsThe physical production of a good or the provision of a service. Since my business is a gym it is service based. This can be both an advantage and a disadvantage.Its an advantage because-There isnt that extra hassle of having enough argument-Making sure its not over stocked-Finding the latest new products to sell to collecting to consumers needs and cope with other businesses-Having to constantly innovate into the business later on in the business life cycle.This is a disadvantage because-If what your providing isnt selling then you could of all time innovate new products into your business, but when its service based there is no sufferup, therefore it means that your service must be so good that it will appeal to others and keep consumers interested-It costs a lot more to replace equipment used for services as hostile to just replacing a product-The fact that you cant actually advertise how good your service is as opposed to saying how good a product is in an advertisement.Also having a good description of the good or service, including-Technology used-Materials and equipment required-Supplies usedTesting and evaluation expensesThe service the business will provide includes-From open till close, 7 days a week, at all hours, there will be ain trainers available throughout the gym answering any questions members might have and also helping out people with their workouts, and giving tips on how to maximize their time in the gym to get the best possible results and help them to achieve their goals fast.-Personal traine rs that will constantly give feedback to members and supporting them as they strive to achieve their goals.-A range of knowledge ranging from bodybuilding and body fitness to fat intense and rehabilitation, also kickboxing will be taught by a former champion.The businesses service will be amazing because all employees will have experiences of at least one of these categories and will be able to share experiences and accomplishments and help members do the same.Objectives for the gym include reducing cost of merchandise standardized supplements, and gym gear, also demoraliseing membership costs or giving free offers, a strategy to accomplish thisis to lower the prices but be aware of competitors prices so the business has a disturbing chance, its at a bonnie price, and its thus far making profit. Another objective will be to improve quality of the service and the products sold, strategies conduct researching about the new and latest product but for the sake of them being bene ficial as opposed to them costing more then requiring members to have a bun in the oven more for products, also introducing new employees or exercise categories like yoga to attract a variety of consumers.MarketingThis involves finding out what consumers need and want and linking these to the businesses product/service. These whitethorn result in a new promotional campaign.Appealing to consumers needs and wants is one of the very intimidate tasks of the establishment stage, because it requires finding out what the consumers want and being able to provide that with your business.In terms of a gym, consumers want to be able to achieve their physical goals without getting ripped off, they want to be able to be able to get their moneys worth, be in a comfortable, friendly and inviting environment that would make them want to move using the gym without the hassle of being in a crammed room that contains weights, bikes, boxing bags and boxing rings, and be able to navigate throughout t he gym with ease.In words this is easy, but being able to be a competitor on the market and show consumers just how good the gym is, will be a challenging task.An objective of the business will be to increase the number of members of the gym by 5 percent in the first year. Strategies to achieve this objective will include trial offers and deducted prices, also special offers that include discounts on equipment and classes to get new members and allow them to experience the gym and potentially keep them as members and possibly have them refer other people to the gym.The main strategy is to find what the consumers want and being able to provide it, also giving people a reason to joining your gym as opposed to going to another gm which will be a competitor. To do this the gym will be for both male and female and for all ages. Other objectives include increased market share which also allows the business to have a chance against competitors and last of course increased profits by 10 % i n 12 months.Strategies to achieve this include introducing new products that appeal to consumer demand like the latest supplements or the newest workout machine this will potentially get more members and also lucubrate current members membership.Marketing strategies must be consistent, the following must be taken into consideration-Position crafty consumers perspective on your product/service and being apply to use this info to improve your business-Price Set prices, how it was determined and how it is compared to competitors.-Place Available distribution methods must be assessedAccounting and financeProvides the financial information needed for sound and viable decision-making.All small businesses must have the following to function right and also to keep track of money.Financial requirements are needed new businesses must have a clear idea of the amount of funds they will need. This could come from debt financing or the original owners equity, retentiveness track of the busin esses budget and cash flow is crucial because it lets the owner know what areas are making profit and which areas are slowing the increase in profit.To keep track of these, businesses use a range of tools such(prenominal) as financial forecasting which tells the owner whether or not they can afford to produce the product or provide the service, this helps with a gym because it helps to show which products are selling, and whether or not the quality of their service is good based on the amount of members that they have or the amount of members the have ended their membership.Also theres financial records, this is good for small businesses so they can keep track of their finances, they will need to have, revenue enhancement statements (Income, profit and loss of the gym), cash flow statements (the money coming into and going out of the gym), balance sheets and budgets.Also theres breakeven A planning tool that can be used to forecast how much of the product must be produced, or the s ervice must be provided to cover costs of product and cost of compensable employees to cover costs and make a profit.Lastly, financial controls are needed, which is having controls in place to ensure the business stays on track. These controls allow corrective action to be taken and without controls, the businesses ability to succeed start to be questioned.Objectives include reducing debts, that being said reducing the bank overdraft for all the equipment and land that was bought from $35000 to $25000 after 6 months, strategies for this to be done include getting more members to make profit and to do this, the gym will need to be advertised and show special offers to get consumers attention. Another objective includes increases profits by 10 % in the next 12 months by advertising more to make more money, also by continuing to sell products and providing services.Employment RelationsDue to such easy rile to technology and raw materials, a businesses staff has become a valuable asse t. The gym has an excellent range of staff hand picked by the owner due to their experience and the fact that they did a in-person training course, or freed a course for the area of the gym they are working in.A challenge for the owner is keeping the employees interested in the job, this can be bother an easy or big(a) task depending on whether or not they like the job to start with.Objectives include increasing the pay of the employees. Even though the business is still starting out, a rise in pay should still occur because there wont be much members at first and itll make it easy for the employees to get bored of their jobs. Also rewards and bonuses will be given to employees who deserve it. 10% increase in employees pay in 12 months. A strategy to achieve this will be to possibly cut back the owners pay for a while or by advertising more to sell more products and get more members to make more money to be able to pay the employees.The numbers of staff, and the skills they cont ain have a large impact on strategic goals, the employment relations of the gym has objectives such as Ensuring that the employees understand what their job is and whats expected, ensuring a healthy and safe environment, measuring and evaluating their perfomances. Strategies to achieve them include buying reinvigorated new equipment and products, training the employees for a some weeks, keeping track of employee achievements.Job DescriptionMust have a resume showing all recent achievements. Most have completed a personal training course or have certificates in the area they wish to work in. Also at least 3 years experience of the job. Also a medical check is needed to ensure that there is no injuries that will affect the employee on the job.Staffing requirementsRostering is the process of allocating special(a) staff to complete particular duties.Employees Steph Greensburg Personal trainer (Completed personal fitness course) Penelope Chaaya Personal Trainer, boxer (Body Fitness course) Tim Stevens Personal Trainer, muscleman ( Personal training course, 5 yearsexperience) Alex Dagher Personal Trainer, Boxing (3 Year personal training course)-Simon Rassy motive boxing champion ( distributor point in personal training) Charles Chaaya (Boss) Personal Trainer, Physiotherapist, Rehabilitation doctor (degree in personal training, 4 year course of physiotherapist, 3 year course on body fitness)ROSTER Example 1 hour breakDay(8am-2pm)Area(3pm-8pm) 6pm on Saturday and sundayAreaMondayCharles ChaayaStephPenelope lycee roomBoxing RoomRehabilitation roomCharles ChaayaStephPenelope gymnasium roomBoxing/cardioFitness trainingTuesdayAlexTimSimonCardio/fitnessmiddle school roomBoxingAlexTimSimonCardio/fitnessGym roomBoxingWednesdayStephAlexCharlesCardio/fitnessGym roomRehabilitationStephAlexCharlesCardio/fitnessBoxingGym roomThursdayStephTimPenelopeCardio/fitnessGym roomBoxingStephTimPenelopeCardio/fitnessGym roomBoxingFridayCharlesSimonAlexRehabilitationBoxingGym roomCha rlesSimonAlexGym roomCardio/fitnessFitness trainingSaturdayStephPenelopeTimCardio/fitnessBoxingGym roomStephPenelopeTimCardio/fitnessBoxingGym roomSundayCharlesSimonAlexRehabilitationBoxingGym roomCharlesSimonAlexRehabilitationBoxingGym roomPrice / PromotionThe pricing of Maximize yourself will be based on whether it is an affordable amount, and whether or not it beat competitor pricing. There will be promotions of tackyer trial offers to let people try out the gym and see whether they like it or not. There will be free trials for boxing classes and body fitness classes to also attract a wide range of consumers. Also bonuses included free boxing or body fitness lessons with 3+ month memberships, this will also be to gain members. Apart from profit being a main goal, it is important to have an environment where people dont feel trapped in a maze and can move around freely, and these offers will allow the consumers o discover just how good the gym is. There must be a distinguish betw een maximize yourself and other gyms, that being, and amazing service and of course amazing prices.Ways of Promoting the gym include A commercial-Social networking sites-Radio-Door to door sales informing residents of the cheap offers-Discounts for referrals-bonuses for long term membersMembership FeesSingle visits $5.00 per person1 week pass $20.001 month membership $55.003 months membership $140.006 months membership $240.0012 months membership $400.00OR free boxing/Body fitness classes membership cost+$15.00Classes will be posted on a timetable hung up in the gymBoxing1 Class $81 Month $55Body Fitness1 Class $51 Month $35Supplement PricesMUSCLE stool Protein bucket 1kg $30, 2kg $50, 4kg $80Creatine Powder $30Fat burner supplement $40Bulk construct supplements $60+ depending on product.ProductsBodybuilder and 100% Natural shirts $15 eachTraining Singlets $10 (Different Colours)Gloves for weights $20 (different colours)Belt for weights $40 (different colours)ProductDue to Maximiz e yourself being a new gym it is obvious that it will have new top notch products, including trademark brands which are easily bought due to a friend of the owners being a seller of them giving him discounted prices. Due to the spacious layout of the gym the equipment will be spread accordingly allowing free movement without bunching into equipment and interrupting others during their workouts.Obvious products will be sold such as supplements, shirt, singlets, gloves and belts. The products of course vary in size to suit different sized customers and the maximize yourself logo will be on the lower back of the shirts/singlets and imprinted on the belts and gloves.PlaceHow and where the product is distributed. Maximize Yourself did not create the supplements they are going to sell. Although everything else is owned by the business and they are all made by a retailer then send to the business when stock is ordered. Only Maximize yourself will be able to sell the equipment due to it bei ng exclusive distribution.Description of the product/serviceEven though Maximize Yourself is service based it sells many great products. Services include the following The gym area, this is where all the main equipment is, this room is mostly used for bodybuilding and contain all the weights and machines that assist with bodybuilding, there will always be a personal trainer in there helping people with their weight training and giving out advice/ answering questions. Also the other trained staff who run boxing classes and fitness training class simultaneously are expertly trained and will give you your moneys worth. Whether thats to learn how to keep back yourself, lose weight or get fitter, theyll supply the help.Equipment inside the gymBench press x 2 $500Power racks $800Rubber floors- $1000 per square metreRubber mats x 8 -$100Cable equipment (For all muscles)45 degree leg press $40045 degree back extension $200Dip / pull up assist machine $200 care for balls x 6 $120Set o f Dumbbells- $1500Fitness step x 4 $360Barbell set (10kg 70kg) $2500 smith Machine x 2 $3000Rowing machines x 3 $2000Treadmills x 3 $4000Exercise bikes x 12 $5000Boxing bags x 5 $600Boxing ring $3000Helmets x 20 $800Boxing gloves x 20 pairs $600Personal Trainers Steph Greensburg Personal trainer (Completed personal fitness course) Penelope Cruz Personal Trainer, boxer (Body Fitness course) Tim Stevens Personal Trainer, bodybuilder ( Personal training course, 5 yearsexperience) Alex Dagher Personal Trainer, Boxing (3 Year personal training course)-Simon Rassy Former boxing champion (degree in personal training) Charles Chaaya (Boss) Personal Trainer, Physiotherapist, Rehabilitation doctor (degree in personal training, 4 year course of physiotherapist, 3 year course on body fitness)ClassesBoxingSee instructors for detailsFitness trainingSee instructors for detailsBoxing ClassLearn how to fight and defend yourself with our top notch boxing instructors.Fitness trainingInten sive cardio, bodyweight training like pushups, dips, squats, lunges, type AB circuits.Opening hoursMonday Friday 8am 8pmSaturday Sunday 8am 6pmFront CounterDrinksSingletsShirtsSupplementsGlovesBeltBoxing glovesWrist padsMaximize yourself offers great discounts likeFree trialsDiscounts for loyal membersMore people=less you payFinancial ForecastsBalance SheetMaximize Yourself Pty LtdCurrent assetsCash $10000Accounts Receivable $20000Inventory $30000 resume $60000Non-Current assetsEquipment $150,000Land $250,000Building/Property $100,000TOTAL $500 000Other Current AssetsGood Will $100,000TOTAL assets $660 000Current LiabilitiesOverdraft $80 000Accounts Payable $30 000TOTAL $110 000Non Current LiabilitiesMortgage $600,000TOTAL $600 000Owners EquityShareholders funds $167,000Capital $80,000Retained lucre $40,000Total Liabilities + Equity$997 000Liquidity = Current Assets .Current Liabilities=$60000 = 0.55$110,000Cash unravel StatementCash flow from operating activitiesReceipts from customersPayments to Suppliers and EmployeesNet cash provided by operating activities$120000($110 000)$10 000Cash Flow from investing ActivitiesPayment for Property, plant and equipmentNet cash provided by investing activities($50000)($50000)Cash Flow from pay ActivitiesRepayment of borrowingNet cash provided by financing activitiesNet increase (decrease) in cash heldCash at beginning of year$40000$40000($5000)$(20000)Cash at end of year($25000)Critically redirect examination the plan and processIn all honesty, I actually enjoyed doing the appointment, sure it was EXTREMELY long but it involves me being creative and actually doing an assignment about a topic I like for once. I must admit, if it wasnt for my plan and help from the business teachers I wouldve had no clue what I was doing.Now that I think of it, I regret not setting out my plan correctly, I left to much of the report if not ALL of it for the last due date, this left me with a mess load of work, rundown the fact tha t I didnt manage my time and ended up having to do more than half the assignment in the last two days.I regret not asking as many questions in class. It was startling having a different teach teaching the subject after having Mrs Jones for so long but I eventually adjusted. I was disappointed in my slow progression and poor time management skills, and having assignments for other subjects just made it all the more less motivating in proceeding to complete this assignment.One of my worst flaws is my short attention span, something as little as seeing an item on my desk would cause me to stop and daydream, also knowing that I was one click away from face book and msn. On top of all these distraction is my MAJOR distraction My Xbox 360, my mentality was always, play now, do business later, Im so good at this game, I cant just stop playing now im owning is what I always said to myself, even whilst making progress I thought about getting off the computer and going to play.Another factor was friends, theres always someone to have a discussion with, and of course anything to get out of doing work right?Overall I believed I achieved what I planned to and was well-chosen due to the relief of completing such a detailed assignment. I believe a few more lessons dedicated to actually explaining the assignment mightve motivated me to have completed some work sooner. Although Im g