GORGEOUSGYM

"I
fyousti
l
llookcut
eaf
tergy
m,y
oudi
dn'
twor
kouthar
d
enough

INTRODUCTI ON:
Thel ocationofthegy m wil
lbeonamai nroadwit
hgood
parkingf aci
li
ti
es.Thiswill
helpthegym gr
owwi t
hmember s
asitat tr
actspeoplebecauseoft hel
ocati
onandgivepeopl
e
advant agestojointhegym wi t
hampleparki
ng.Ther
eisn’
t
muchhi stor
yaboutt hegym becausei
tisabandnew
businessbutt heideacamet omeabout5mont hsagowhen
iwasn’ tsati
sfi
edwi thwhatothergymsof f
eredtocustomer s.
Thebusi nessissituatedintheretai
lsectorbecauseit
providesgy m equipmenttopeoplewhodon’ thaveroom at
thei
rhousesort heycannotaffordallt
heequi pment
themsel ves.ThePr i
mef uncti
onofthebusi nessistoprovide
gym equi pmenttopeopl easwel l
ashelpt hem achievetheir
fi
tnessgoal s.Thegy m off
ersawi derangeofpr oductsand
equipmentst arti
ngf r
om bags,dri
nksandcl othi
ngt o
dumbel ls,tr
eadmillsandbenches.

GOALOFTHEGYM:

Therecanbemanypur posesf orabusinesspl an.Thepl an

shouldprovideaf i
rm withacleardirecti
onf orthefutureand
i
dentif
iesthemai ngoal softhebusiness.Thegoal soft he
gym wouldbesoci al
,fi
nancialandenv i
ronment algoals.The
soci
al goal
st hatthegym woul dli
ket oachievewoul dbe
goodser vi
cet opatronsthatuset hefacil
i
ties,helpi
ngt he
communi tythroughsponsor shipsoflocalspor t
ingclubsand
hel
pingoutschool st hr
oughconduct ingspor tl
essonsi nthe
gy
m.

Fi
nancial goalsthatthegym wouldli
keachi ev
ewouldbet o
i
ncreaset heowner ’swealt
hthroughincreasedmarketshare,
i
ncreasedl evelofcashflowandi ncr
easedl evel
ofl
iquidi
ty.
Butincreasingweal t
hisoneoft heobjecti
ves.Theother
fi
nancialobjecti
vewoul d

betomi ni
misethewast
ageofmoneyonit
emsorproduct
s
thatwil
lnothel
pthegym gr
owandnotf
all
ingi
ntoheav
y
debt.

Envi
ronmentalgoalsthatthegym wouldliketoachieve
wouldbet ouseelect
rici
tyeff
ici
ent
ly,i
nstallenergyef
fici
ent
appl
iances,mini
misewast eanddisposingoft hewaste.

COMPETI
TOR:
Compet i
torsareav eryinfluentialf
actorony ourbusiness.
Theyar einfluenti
albecauset heydeterminewhaty ouchar ge
foryourmember shipfees,visit
orfeesandf orsuppliesli
ke
shir
tsandsuppl ement s.Thismeansnotonl ydoy ourpr i
ces
havetobecompet i
ti
ve,buty ourproductsandser vi
cest hat
youareof f
eringhav etobeofhi ghqualit
y.Thisisbecause
peoplear ewi l
li
ngt opayal i
tt
leextraforthei
rgoodorser vi
ce
butknowt hattheyar espendi ngthatli
ttl
eext r
afortop
quali
ty.Ifyourpr i
cesandqual ityofgoodsandser vicesare
bett
ert hatyourcompet it
ors,itult
imatelygiv
esy out he
compet it
iveadv antageov erthem.
MARKETSHARE

TARGETMARKET:
Thet argetmar kett hegym woul dai m atwoul dbeav ar
ious
numberofgr oupsofpeopl e.Oneoft hesegr oupsofpeopl e
wouldbepeopl el ookingtol osewei ghtthroughpr oper
exercisesandhav ingexcellentt ogui dethem t hr
ought heir
weightl ossjour ney .Theothert ar getmar ketwouldbe
peoplel ookingt ot rai
nandgai nmuscl esizeaswel las
muscul arst r
engt h.Theot hergr oupofpeopl ewoul dbe
woman, menandt eensthatar el ookingforgoodcar dio
sessionswi t
haqual i
fi
edt r
ainer .Thesesessi onswi llbea
combi nat i
onofl ightwei ghts,treadmi ll
sandbi kes.Thegy m
wil
laimt opr ovidet hesegroupsofpeopl ewi ththef aci
li
ti
es
andgoodenv i
ronmentt oexer cisein.

Ast hegy m grows, i

tneedst odev elopnewt hingstoatt
ract
peopl e.Somet hi
ngt hatshouldbedonei stoinvit
elocal
school sfortheirsportti
meandt aket hem thr
oughacar dio
sessi onorawei ghtssessiondependi ngonwhatt he
maj oritywantt odo.Theseact i
vi
tiesshoul dbef r
eeof
char gef orthef i
rstterm,andasmal lchargeforthesessions
aftert hefir
stt erm.Thisattr
actst eenst obecomeamember
andi nt urn,theywi l
ltel
lthei
rmat est obecomeamember .
Thisl eadst oaqui ckergrowthandaposi t
iveoutcomeon
fi
rstt i
mer s.

STRENGTH:
Goodassi
stancepr
ovi
dedbyempl
oyees
Gr
eatmember
shi
pdeal
sCheappr
ices

Goodl
ocat
ion

WEAKNESS:
Notenoughempl
oyeeswhenbusi
nessi
sbusy

Toi
l
etf
aci
l
iti
est
oosmal
l

Secur
it
y

PoorRecept
ioni
st

BUSI
NESSOBJECTIVEANDSTRATEGI
ES:
Busi
nessObj
ect
ivesandSt
rat
egi
es

Thebusinessobjecti
vesandst r
ategi
essecti
onofthe
businesspl
anout l
i
neswhatt hebusinessaimst
oachieve,
i
ncludingover
all
strategi
cgoals.Thesegoalswi
llbebased
onresearchfr
om thesituat
ionalanal
ysis.

TheObjecti
vesoftheGym aretotr
yandeli
mi natethe
weaknessesinthebusi
nessandmaket hem oneoft he
st
rengthsbywor ki
ngonthem wit
honeanotherandal sot
o
i
mpr ov
eonst rengt
hsandtrytomakethem stronger.

AnotherObj
ect
ivewoul
dbetotakeev
eryoppor
tuni
ty
possibl
etohel
pthebusi
nessgr
owandtrytoworkaround
keepi
ngt
hreat
sawayf
rom t
hebusi
ness.

Thefinal Objectiv
ewoul dbetoi mprov efinancialweal
thfor
theownerandt obuil
dagoodr eputationwi t
hinthe
communi tysopeopl efeeTheseobject iv
escanbe
accompl ishedthroughempl oyeesandownerwor ki
ng
toget
her .Thismeanst hatemployeescanhel poneanot her
withweaknessesandi mproveonst rengthseachper sonhas
tooffer.Also,theownermustbewi l
lingtospendmoneyf or
theimpr ovementoft hebusiness.Thesei mprov ement
swi ll
i
ncludet hingslikerenovati
onslinvi
tedandwel comedwhen
theyvisitthegy m.

DESCRI PTI ONOFTHESERVI CES:

Thet echnol ogyusedwi l
lbemoder n.Theuseofbi g
tel
ev i
sionsneart r
eadmi ll
sandcar diovascularequipmentwi l
l
helppeopl eenjoyt hemsel veswhileexer ci
sing.
Member ships,casht ransacti
ons,andgener albusinesswill
bedoneoncomput erssetupont hef r
ontcount erandinthe
mainof f i
ce.Thi swi lli
ncludeeft
posf acil
it
ies,pri
nter
s,cash
regist
erconnect edt ocomput er
.Ifpossi bl
et hatall3
comput ersbel inkedsomember shipscanbedoneonal l 3
comput ersandmaker enewals,
showcur r
entmember s,on
thesecomput ers.Thi swillmakewor kmor econv eni
ent.

Equipmentandmat
eri
alsr
equir
edwil
lbebasedonhowbig
thegymisandhowquickl
ythebusi
nessgr
ows.Equi
pment
requir
edwil
lbe:

Medi
cinebal
l
s•Accessor
ies•Boxi
ngGear

Gy
mfl
oor
ing•Bar
bel
l
s•Cabl
eAt
tachment
s
Wei
ghtplates•Benches•Dumbel l
s
Mat
eri
alsthatwil
lber equi
redwil
lbethi
ngsthatar
eneeded
f
orday-
to-dayoperat
ions.Thesemateri
alsar
e:

Fi
l
ingCabi
net
s.Not
iceboar
d•Paper

Locker
s•ShopFi
tt
ings.Pens

Fr
idges.Of
fi
ceFur
nit
ure•Chai
rs

Suppl
i
est
hatwi
l
lbeusedwi
l
lincl
ude:

Suppl
ement
s•Gy
m Si
ngl
ets.Member
shi
pPackages

Gy
m Equi
pment•Spor
tsDr
inks(
Bag,
Towel
,Bot
tl
e)

STAFFUNI
FORM:
Staffwi l
lneedt ohaveaTimetable/Rostertoi nf
ormt hem
whent heyarewor ki
ng.Thi
srosterwillbecompl et
edev er
y
Saturday .FortheStafft
hatdonotwor kont heweekendsor
donthav eachancet oseetheroster,
ther osterwill
be
emai ledtoallstaf
fmember sont heSat ur
day .Thiswill
el
imi natetheexcuseofnotknowi ngwhenandwhatt i
me
staffarewor ki
ng.

Thetest i
ngandev al
uat
ingexpenseswoul
dbehi ghbecause
ofthel ar
geamountofequipmentneededt ost
artupand
al
sot hesophist
icati
onofthetechnol
ogyusedinthegym.
Thesuppl i
eswouldcostabitbecauseoftheneverendi
ng
needf orit
.

PERSONALREQUI
RMENTANDSKI
LLS:

Thegym shouldrecrui
tstaf
faccordi
ngtot hei
rqual i
fi
cati
ons
andexperi
ence.Stafft
hatarerecrui
tedshouldallspecial
ise
i
nat ar
getareawhi cht
heyoccupydur i
ngtheirwor kti
mesat
thegym.Examplesoft hi
swouldbesomewor ker
smayonl y
beonthefrontcounter,wor
kingonthecomput er
s.Ot her
s
maybewor kingoncardioandstrengthexerci
ses.Thiswi l
l
keepthi
ngsrunni
ngsmoothl
yandbemor
econv
eni
entf
or
patr
onstobenefi
tfr
om t
hesepeopl
e.

Thestaffwouldbequali
fi
edpersonaltr
ainerswit
ha
cert
ifi
cateI
IIandcer
ti
fi
cateIVinpersonaltr
aini
ng.ersonal
tr
ainershav
eaddedqualifi
cat
ionsinweightloss,st
rength

trai
ningandfi
tnesswhi chareanaddedbonus.Theempl oyer
shouldchecktoseei ft
hepossi bl
eempl oyeei
squal
ifi
ed
becauseinthatindustr
y ,
thereareunquali
fi
edpeopl
ecall
ing
themselvespersonaltr
ainers.

Trai
ningnewandpr esentworkersonnewtechnol
ogyt hat
getsinstal
ledi
ntot
hegy m.Thingssuchasnewexer ci
se
machi nesandequi
pmentneedt obeusedintherightwayto
ensuret hi
ngsar
esafeandthatequipmenti
sstoredcor r
ect
ly
forsafety.

Employeesneedt oknowwhatt heexpect

ationsar
ewheni t
comest ohelpi
ngpatronsandbecomi ngaleaderf
or
new/youngeremployees.Alsounder
standi
ngwhatwor king
atagymi nvolv
esinregardstohowy ouconductyour
selfin
fr
ontofothers,comingtowor konti
me.

Empl oy eesshouldbeabletostaymot i
vatedandmai ntai
na
goodst andardofwork.Thiswil
lhappeni ft
hereisareward
system puti nplacewhereworkerswouldgetr ewardedfor
doingsomet hingext
raorworkinglonger.Thiswil
lbecome
aninitiati
v et
okeepwor ker
swor ki
ngatahi ghstandard,
keeppat ronshappyandensuri
ngt heycomebackt ot hegym
knowi ngt heyaregoi
ngt ogetgoodservice.
Asaf eandheal thyworkenvir
onmenti sessentialf
orwor ker
s
tobeabl etowor kinacomf ort
ableenv i
ronmentwheret hey
canf eel
relaxedandwor ktotheirfull
potenti
al.Thi
sshoul d
i
ncludeawor kersoff
icewheretheycansi tandr el
axduring
l
unchbr eaks,freshenup;keepallthei
rbelongi
ngsi nalocker.
Thisalsoshowst hem t
hatyouar ethi
nkingabouthowt hey
feelandtrytomaket hi
ngsthebestaspossi bl
e.

Measur i
ngempl oy eeperf
ormancewoul dcomef rom 3mai n
pl
aces.Oneoft heireval
uations,Wil
lcomef r
om t heirwork
mat es.Otherevaluati
onswoul dcomef r
om patronst hrough
ashor teval
uati
onsheetwhi chi sopti
onalt
of i
lloutaf t
era
workerhascompl etedatrainingsessionwiththem.Thel ast
evaluati
onwi l
lcomef r
om themanager /
bosstalkingt othe
workert hemselves.Thisshowshowt hewor kersf eel
sand
gettheirhonestopi ni
ononhowt hi
ngscouldbei mpr oved
aroundt hegym.

Challengesthatwoul dbeexper i
encesthroughoutt he
operationselementwoul dbet hehighcost sinsettingupt he
businessandt hef i
rstfewper iodswher ebusinessi ssl ow
andnotsobusy .Theequi pmentshouldbesetoutpr operl
y
andt hiswouldbehar dwi thasmal lar
eat owor kwi th.The
quali
f i
edempl oy eeswi l
lbeachal l
enget ofindbecauset hey
arealreadywor ki
ngort heyar ealmostf i
nishedst udy ingto
becomeaper sonal tr
ainer.Thisbecomescost lybecause
youhav et
oof ferthepeopl ethatarealr
eadywor kingabet ter
payperhourorbet tersalary.Trai
ningthem t owor kinagy m
wouldbet imeconsumi ngbecausei ti
sbasedonbei nggood
aroundpeopl eandhav i
ngconf idencetot al
kt otherm.

SALESFORCASTI
NG:
Salesfor
ecast i
ngisananal ysi
sofaf i
rmssal esfigur
es
basedoni ndivi
dualproducts,salesrepresentat
ives,
geographiclocati
ons,seasonal orannual t
rendsinsales,
cashsalesorcr edi
tcardsales.Thesest atist
icsareusedto
predi
cthowmuchpr ofi
tisgoingt obemadebyt hef i
rmin
thefutur
e.

I
twoul dbehardtocreat
easal esforecastwithanewly
openedbusiness.Thi
sisbecausethest ati
sti
csthatar
e
provi
dedareshortter
m.Stati
sticsshouldbeatleastone
yearol
dt oshowt r
endsinconsumerspendi ng.

Onestati
sti
cthatcanshowaf ut
ureboom i
nthegy m
busi
nessisthewinterseason.Peoplet
endtojoingy ms
duri
ngthewinter,
workoutsot hei
rbodylooksgoodf orthe
summerseasons.Anot herfi
gurethati
sconstantisthesal e
ofsuppl
ements.Thesesuppl ementsarei
nconst antdemand
andthi
siswhyt hesalesarealwaysup.Oneot herstati
stic
wouldbet
hesal
eofsuppl
iesi
ncl
udi
ngt
owel
s,bot
tl
es,
dr
inks,
shi
rt
sandsi
ngl
ets.

Withthesestat
isti
csandov erallpl
an,busi
nessowner swill
beabletopredictwhent heyneedt ogetmor esuppli
es,hi
re
orcal
l i
nmor estaff,andprepar ethemselvesfortheti
mes
wherebusinessisn’tverybusy .Thiswouldgivebusiness
ownersanadv antagebecausei tcanhelpthem indecidi
ng
howmuchsuppl ytheyneed, andav oidover-
hir
ing.

FINANCI ALREQUI RMENTS:

Newbusi nessesneedhav eaclearideaoftheamountof
fundst heywillneed.Thi
scouldcomef r
om debtfi
nancing,
theoriginalowners’equi
tyoraf ut
urepartner
’sequi
ty.The
businesspl anshouldprovi
deabr eakdownofhowt hese
i
niti
aloraddi ti
onal f
undswil
lbeused.

Thef inanci alrequi

rementsneededt osuppor tthegy m woul d
bev eryhi gh.Ther easonsf ort hiswoul dbet hest art
-up
costsoft hebusi nesswhichi ncl udest hingsli
kebuy ingt he
space, r
enov atinganddesi gningi nteri
orandext eri
or,
purchasesofnewgy m equi pmentandt heempl oymentof
staff.Thiswoul dbechal l
engi ngf orasol et r
ader ,
butwi th
careful fi
nanci almanagementt hebusi nesscanr un
smoot hly,beginitsestabl
ishmentphaseandnotf al
lintotoo
muchdebtt ooquickl
y.
Oncet hebusi nesshasest abl i
shedi t
selfandi soni tsjourney
throught hegr owt hstage,itmustbeabl etosuppor tit
selfor
elseliquiditypr obl
emswi lldev elop.Itisi mportantthatthe
gy m ownermanagest heincomewi sely.Thismeansnot
spendi ngmoneyont hingst hatwoul dn’tbeusef ulornot
sav i
ngupf ort hetimeswher ebusi nessmi ghtnotbeasbusy
ashe/ shewoul dli
ke.Thei ncomemadeshoul dbespenton
thebusi
nesswit
hthi
ngssuchasmai nt
enanceoft
he
equi
pment,buy
ingmoreproductsfornewmember s.Thi
s
wouldal
lowthegymtogrowst eadi
ly.

Fi
nanci
alRecor
ds

Smallbusi
nessesneedtokeepaccurat
efinanci
alr
ecor
ds
foral
ltr
ansact
ions.Theywi
llneedt
ohav eoneofthe
fol
lowi
ng:

Rev
enuest
atement
s

Cashf
lowst
atement
s

Bal
ancesheet
s

Fundsst
atement
s

Budgets–marketi
ng,oper
ati
ons,
empl
oymentr
elat
ionsand
accounti
ngandfi
nance.

Fort
hegym, Ihav
edecidedtouseabalancesheetbecause
i
tiseasi
erandmor econveni
entduet
obeinganewbusi ness.

Bal
anceSheet
.
RECOMMENDATI
ON:

1)Installagym managementsy stem:

Softwaref orgy m managementsy stem i
sessent
ialf
ory ourgym business.Li
keothercli
ent-
centeredser v
ices,youneedt obuildadatabasef
oryourmember swi theachcheck-i
nabili
ty.
What ’s more,a memberaccountmanagementsof twarethatmoni t
orsy ourmember s,
empl oyees,traini
ngsessions,bil
l
ing,andotherf
eaturescankeepy ourbusinessorgani
zed
andaheadoft hegame.

2)Improvecust omerservi
ce:
Itcan be di f
fi
cultt o mai
ntai
n good cust omerser vi
ce when y
ou’
re busycoordi
nating
appointments,signingupnew member s,andcleaningt hegy
m.Howev er,wit
houtgood
customerser v
ice,yourbusi
nesswillsuffer
.Wheneachmembercomesi n,gr
eetthem wit
ha
smile and t
ryt o memoriz
et hei
rnames.Thi st el
l
sy ourmembersthaty ou’
refr
iendly
,
welcoming,andt hatyouval
uethei
rpr esence.

3)Takealookatwhatyouar eofferi
ng:
Yourgymisabusiness,whichmeansy ouneedt oevaluat
ey ourser
viceslikeabusiness.If
yourmembershiprat
eishigh,buty ouonlyof f
ersomanycl assesandpr omoti
ons,youmay
begintoseeadr opi nmember ship.Consi derincorpor
ati
ngpr omotionsorof fer
sdur i
ng
speci
fi
choli
daysorincludi
ngmor eclasses.Additi
onalret
ailoff
erssuchappar elorhealt
hy
snacksi
sanotherwaytoimpr ov
ecust omersat i
sfacti
on.

4)Improveyourmarket
ingtact
ics:
Toimpr ovet
henumberofpeopl evi
sit
ingyourgym,considery
ourmar keti
ngtacti
cs.I
fyou
don’thaveaFacebookpageorTwitteraccount
,makeone.Communi catewit
hy ourmembers
onsocialmediawit
hhigh-
quali
tycontentandanswerfrequent
lyasked.