This is Business Plan on Fitness Gym Get there is a start-up plan; the business is located in Dubai sports city.
It has been determined that the trend of using fitness is increasing due to increased health awareness. Dubai fitness market is on therise, the UAE government also supports the fitness environment. Analysis revealed the increase of 25% in breast cancer and 21% in colon cancer. Approximately 30% people are subject to heart diseases and 27% facing diabetes, all these issues define the necessity of fitness activities (D’Souza, 2013). Improvement in infrastructure and increasing awareness of fitness activities are the factors encouraging growth of gym services
Get There is an idea that is designed to satisfy customers’ rising fitness needs with special services such as childcare services, 50% discount on smoothies, and Muay Thai. The gym will be continuouslyinvolved in research and development to identify the market gap and will build its services on that gap to satisfy customers.
Products and services that will create unique selling proposition will include quality fitness services and lower price as compared to thecompetition. Muay Thai will include children from the age of 4 to womenfrom35 and above. The unique combination of services at lower prices will differentiate the business from its rivals. These services include personal training programs, personal trainer services to customers, and Muay Thai (self-defence) classes, childcare services to mothers. The gym will include 3 shifts such as morning, afternoon, and evening. Afternoon shift will entertain women only. Further, the gym will provide internet facility. The gym will embracemodern machinery that will help in keeping arecord of customers’ health and fitness progress. The gym will give 50% discount vouchers for smoothies and proper guidance for food plan.
- The objective is to make Get There a well-recognised fitness centre.
- To improve the net profit ratio of a gym up to 44.62% in 15 months.
- To enhance the awareness of a gym up to 95% in a year.
- In order to reach a success, Get There will have to make analliance with its strong service and product suppliers.
- It is essential for a business that it keeps eye on its competition.
- It is essential for the business to be involved in market analysis to extract opportunities.
- It is essential that people have easy access to gym services; hence, it is pivotal that distribution channels are strong.
“Get There” is a new fitness gym that will provide fitness services to its customers and will provide personal training to customers at theaffordable price. The fitness gym is focused on providing fitness services to men and women both and enthusiastic to offer Muay Thai (self-defence classes) for children and women as well.The fitness gym will provide personal training services to its customers and will offer different fitness programs as well.
The priority of the gym is to involve the Dubai population in fitness activities by exposing the population to numerous activities and services offered by the fitness gym. The major focus of the fitness gym will be amale population of all ages, as it represents approximately 75% of the Dubai’s overall population (World Population Review, 2018). Further, the fitness gym will offer its customers a service of childcare so housewives can also take part in fitness activities without worrying about their children. Childcare service will help the business attracting more customers (women) that means improved customers base and therefore profitability. The business will offer a product range to its customers that will include boxing gloves, hand graft, shin guard, body armour, and apparel like shorts.
The mission of the fitness centre is “to involve people in fitness and wellbeing activities.”The goal of the fitness gym is to offer an environment to non-athlete people that they feel comfortable.
Company ownership refers to the control that an individual or individuals have over business enterprise. Business ownership can be divided into three broader categories that include sole proprietorship, partnership, and corporation. In a sole proprietorship, an individual owns a business. She/he is liable to pay all debts and bear the responsibility of losses if occur. In case of profits, she/he is the only person who takes advantage. In partnership, two or more than two individuals are involved in business activities. However, corporate is a form of legal entity that state creates; and theowner is separate from business’s liabilities and assets (Birt et al., 2012).
For “Get There” fitness gym, the selected ownership structure is apartnership. The advantages of thepartnership will be sharing of responsibilities, expertise, and losses. Partners involved in the business will not have to bear losses solely. This sort of ownership will offer the opportunity to start the business easily. Start-up cost will be low and increased capital will be available to run abusiness (Birt et al., 2012).
The start-up cost for the “Get There” gym is mentioned as below:
|Licensing Fee/Legal Fees||AED 50,000.00|
|Other material||AED 100,000.00|
|Computers & Networking||AED 20,000.00|
|LCD TVs||AED 5,000.00|
|Furniture & Fixtures||AED 15,000.00|
Majority of the total cost will be spent on the purchasing of fitness machines. The cost of fitness machines is high, as the new machines that are not hazardous for health and do not contain therisk of injury will be purchased. The licence cost of starting agym in Dubai is AED 50,000. Another material refers to Boxing Gloves, Hand Graft, Shin Guard, Body Armor, Apparel like Shorts, and costumers towels, etc. Purchasing of such assets will require at least AED100, 000. The gym must have CCTV cameras so the activities of customers can be monitored, plus it will also help in maintaining security. These assets will be for thelong-term basis for the business. Some expenses that will occur during the first month and will keep going on have been mentioned separately. However, categories such as club inner activities expanse and other expenses show potential expenses that can occur such as maintenance, ambience, etc.
Get There is a gym that will be located in Dubai sports city, situated at Mohammad Bin Zayed Road. It is a multisport complex in Dubai; there are numbers of sports venues and sports academies. The advantage of the place is that it will give easy access to the location and will be affordable. People will be attracted to the gym because of the place popularity for having quality sports centres.
The location consists of multiple attractions such as it is close to shopping hubs, theme parks, nightlife, hotels, tourism spa, and much more. People come to visit Dubai and take gym facilities as well; the location will also help the fitness gym to attract travellers. Opening a fitness gym will help in attracting several potential customers to the locality. The increasing popularity of a place will support the improvement of thecustomer base that will ultimately lead to higher sales and profitability. Numerous new facilities are opening in the city that will increase visits to the city and location as well. Hence, it is expected that opening fitness gym at this particular location will serve with spectacular advantages.