Goodlife Fitness Gym Bussiness Plan Business & Marketing Essay

Goodlife Fitness Gym
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Institution:
Date:
Table of Contents TOC \o "1-3" \h \z \u Table of Contents PAGEREF _Toc30628206 \h iNon-Disclosure and Confidentiality Agreement PAGEREF _Toc30628207 \h iiExecutive summary PAGEREF _Toc30628208 \h 1Vision Statement PAGEREF _Toc30628209 \h 1Business Description PAGEREF _Toc30628210 \h 1Hours of operation PAGEREF _Toc30628211 \h 2Legal forms of ownership PAGEREF _Toc30628212 \h 2Business product and services PAGEREF _Toc30628213 \h 2Business location PAGEREF _Toc30628214 \h 3Personal SWOT Analysis PAGEREF _Toc30628215 \h 3Strength PAGEREF _Toc30628216 \h 3Weakness PAGEREF _Toc30628217 \h 3Opportunities PAGEREF _Toc30628218 \h 4Threats PAGEREF _Toc30628219 \h 4Organization and Management Plan PAGEREF _Toc30628220 \h 5Organization, Structure, and Staffing PAGEREF _Toc30628221 \h 5Marketing Strategy Analysis PAGEREF _Toc30628222 \h 6Industry Analysis PAGEREF _Toc30628223 \h 6Target Market PAGEREF _Toc30628224 \h 6Marketing Mix PAGEREF _Toc30628225 \h 6Product PAGEREF _Toc30628226 \h 7Placement PAGEREF _Toc30628227 \h 7Promotion and Advertising PAGEREF _Toc30628228 \h 8Price PAGEREF _Toc30628229 \h 9Financials PAGEREF _Toc30628230 \h 10Startup Expenses PAGEREF _Toc30628231 \h 103-Years Revenue Forecast: Goodlife Fitness Arena PAGEREF _Toc30628232 \h 10Profit and Loss Projections (3 years) PAGEREF _Toc30628233 \h 11Conclusion PAGEREF _Toc30628234 \h 12APPENDIX PAGEREF _Toc30628235 \h 13Timetable PAGEREF _Toc30628236 \h 13
Non-Disclosure and Confidentiality Agreement
The undersigned (‘Recipient’), hereby agrees that all financial and other information (“Information”) that is has and will receive concerning Goodlife Fitness Gym is confidential and will not be disclosed to any other individual or entity without prior written consent. The Information shall remain the property of Goodlife Enterprises Company Limited and shall be returned to Goodlife Enterprises Company Limited promptly at its request together with all copies made thereof. Recipient acknowledges that no remedy of law may be adequate to compensate Goodlife Enterprises Company Limited for a violation of this Agreement and Recipient hereby agrees that in addition to any other legal or other rights that may be available in the event of a breach hereunder, Goodlife Enterprises Company Limited may seek equitable relief to enforce this agreement in any court of competent jurisdiction.
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Date & Signature of Recipient
Executive summary
This is a business plan for a fitness gym known as Goodlife Gym which is owned and operated by a registered company in the United States. The main reason behind the formation of this company is to become the best gym of choice in Lemont, Illinois. Lemont does not have a fully equipped gym and market research found out that it is direly needed. Goodlife gym will also help members access to professional guidance to exercising as it plans to have professional instructors. This business plan shall outline the organization’s mission, purpose and guidelines that would steer the investment. Additionally, it shall identify the organization’s target consumers as well as the services that it aims to avail in the market. The financial projections are also included showing how the business is expected to perform according to market research.
Mission statement
To be top fitness gym in Illinois that is comfortable, fun, attractive, clean and safe to help all our clients to reach the highest fitness levels possible
Vision Statement
Our vision is to be the premier fitness and wellness facility providing innovative, collaborative well-equipped sports facility in the state. We strive to be known for an exceptional member experience, with the highest quality fitness services.
Business Description
This organization will ensure to exceed its customers’ expectations, and become a premier provider of fitness services equipment by offering products of outstanding quality with premium support. On the other hand, the organization’s main purpose is to help the Lemont community to be healthy by facilitating access to well-equipped fitness facility run and operated by professionals.
Hours of operation
The facility is designed to be operated from 4.00am in the morning to 10.00pm in the evening. This is because it aims to be available to anyone at their preferred time of exercising. For the early risers, it will be opened early in the morning and for those who have evening preferences will be able to access the facility up to 10.00pm in the evening. The fitness center will be opened all days of the week throughout the year.
Legal forms of ownership
Goodlife Fitness Gym is owned by Goodlife enterprises Company Limited. Goodlife Enterprises Limited is owned by Craig Bellamy. Craig Bellamy is a former pro soccer player in Europe and the company is fully owned by him and his family.
Business product and services
Goodlife Fitness Arena seeks to offer fitness services aimed at improving the consumers’ body performance such as such as physical body therapies, body conditioning, weight management, body building, and many more. Contrary to other fitness organizations that specialize in particular fitness fields, this company shall provide a variety of services that would produce are all-rounded and suitable for all people irrespective of their age or body conditions. We plan to include a section specifically for physically disadvantaged people to access gym services just like any other person. Comparatively, this diversity of fitness services is more effective in maximizing the advantage we confer to our customers.
Business location
Goodlife Fitness Arena will be located Lemont, Illinois. Geographically, Lemont borders DuPage, and Cook counties. Cook county is the most populous county in Chicago in Illinois. Thus, most fitness facilities are in cook county and Lemont has few if any making it a prime location for such an investment.
Personal SWOT Analysis
Strength
The major strength of the business is that the location of the gym it will not have close competitors. The market research showed that the people living around where the gym will be located have to travel at least 8 miles to access a gym which is till not very well facilitated. Secondly, the people living around the proposed location of the gym are of middle-income bracket who have surplus resources that can be channeled to improving their lives and develop healthy living. If the marketing is done right, there is potential to hundreds of people to sign up in the first year and more in the subsequent year.
Weakness
The weakness of the business is the inability to cooperate with the broad range of customers. The camp is adequate for normal people in a normal neighborhood. The facility lacks the equipment and professionalism to help pro athletes who may want to use the facility. Thus, the facility is not adapted athletes both in the equipment provided and range of other services offered. This limits the reach the facility could have if it was serving a wider range of customers.
Opportunities
The opportunities for the development of the business are almost limitless since the center is able to develop constantly providing new services, activities, and merchandise to the customers. It is also essential to utilize the appropriate advertisement in order to make the customers aware of the camp and its services.
Expanding the range of the customers is also another great opportunity. Finding ways to facilitate the facility to accommodate pro athletes and or professional sports team. It is a lucrative venture to offer training equipment to pro sportspeople individually and as a team. Having the center include or have a section that targets pro athletes can be a growth opportunity, which if utilized well can help the center attain its financial goals.
Another opportunity lies in opening new branches to help increase the center’s influence and reach in the region and probably in the country. This opportunity, however, is dependent on the success of the first facility. The more the number of customers and returns, the higher the probability that the management will consider expanding the reach of the center. So, it is crucial that the first center works and becomes a success.
Threats
The major threat that might impact the business in a negative way is the fact that the gym is an immovable product hence for people who are further away from the facility may not be able to use it. it is also hard to open more facilities since the area is not densely populated. It is possible the reason which may have made other entrepreneurs to shy away from investing in the region. However, our plan of expansion is to get a van that could be collecting members from their places of residence and bring them just like schools collect students from their homes.
Other centers and recreational facilities can also be developed in the area. The competition for customers these can offer can make it difficult for the center to attain its financial goals. The financial goals indicated in this plan are dependent on the number of customers the center is able to attract. Therefore, an increase in the number of centers around the area could strain the center while also limiting its ability to increase its income.
Organization and Management Plan
Goodlife Fitness Arena will be under the management of Craig Bellamy. Craig Bellamy is a former pro soccer player in Europe and the company is fully owned by him and his family. He will be assisted by Sam Rick who, until recently, was a chief physiotherapist at Advent clinical center located in Chicago. Rick and Bellamy will manage the operations of Goodlife Fitness Gym all through its value chain.
Organization, Structure, and Staffing
Goodlife Fitness Arena plans to employ a divisional structure in managing its affairs. By exploring a divisional structure, Goodlife Fitness Gym stands a better chan...