Masters of Information Technology (MIT)
March Intake 2023
First Semester
Assignment: Final Assignment
Entrepreneurship in IT (ISYS 5001)
Submitted By: Submitted To:
Mr. Santosh Sharma Dr. Pradip Poudel
Submitted for the partial fulfillment of the assignment of
Entrepreneurship in IT (MIT)
Submission Date: 14 Jan, 2024
Question: Prepare a Business Plan as per instruction provided during class.
Answer:
Title: Kool Fitness Hub: Bhaktpur's Gateway to Wellbeing
Executive Summary:
Kool Fitness Hub strives to be Bhaktpur's premier fitness destination, encouraging
people of all ages to attain overall wellness via engaging, technology-infused, and
community-oriented activities. We cater to young individuals, families, and active
elderly by providing a variety of workout programs, tailored instruction, and
technology-driven activities, as well as supporting social initiatives. With an
anticipated profit of four crores in five years, Kool Fitness Hub will change people's
lives by bridging the gap between physical exercise and mental well-being.
1. Company Description:
1.1 Mission: To inspire a love of holistic fitness in Bhaktapur by creating a friendly
community where individuals of all ages and backgrounds may meet, exercise, and
flourish.
1.2 Vision: To be the lively heartbeat of Bhaktpur's wellness sector, known for its
unique approach to exercise, intergenerational connections, and long-term influence
on the local community.
1.3 Products and Services:
● Intergenerational exercise courses (e.g., Zumba for kids and yoga for elders).
● Gamified exercises and virtual reality fitness excursions.
● Personalized exercise tracking and instruction via a user-friendly app.
● Mindfulness classes, stress management courses, and community gatherings.
● Retail collaborations with local healthy living businesses.
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● Opportunity to showcase talent in fitness domain (e.g., local, national,
international events).
● Personalized dietary guidance and counseling tailored to individual needs.
1.4 Competitive Advantage:
● Concentrate on intergenerational fitness and technological integration.
● Family-friendly environment with exclusive discounts and programs.
● A culturally appropriate strategy with strong local ties.
● Experienced and devoted staff committed to Bhaktpur's well-being.
2. Market Analysis:
2.1 Target Market: Young adults (18-35), families with children, and active seniors
(55+) in Bhaktapur, seeking accessible, engaging, and technology-driven fitness
experiences.
2.2 Market Trends: Rising demand for personalized fitness, intergenerational
activities, and technology-infused experiences.
2.3 Competition: Traditional gyms, yoga studios, and fitness classes, lacking diverse
offerings and intergenerational focus.
3. Marketing Plan:
3.1 Strategy: Utilize social media marketing with Nepali language and Bhaktapur
visuals, partner with local influencers and businesses, develop user-friendly apps for
community engagement.
3.2 Tactics: Organize family-friendly events, offer special discounts for families and
seniors, create targeted online ads, and leverage local partnerships for reach.
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3.3 Budget: Allocate 20% of marketing budget to local channels, 30% to online
promotions, and 50% to community events and partnerships.
4. Design and Development Plan:
4.1 Technology Platform: Develop user-friendly app for class bookings, fitness
tracking, and community engagement. Implement VR equipment for fitness
adventures.
4.2 Development Timeline: Secure technology vendors within 6 months, launch
apps and integrate VR within 1 year.
4.3 Development Costs: Estimated Cost 15 thousand for app development,
equipment purchase, and ongoing maintenance per year.
5. Operations Plan:
5.1 Location: Secure well-equipped facility in central Bhaktapur with dedicated areas
for diverse activities.
5.2 Staffing: Recruit passionate fitness professionals, technology experts, and
community engagement specialists.
5.3 Operations Timeline: Secure and renovate facility within 3 months, recruit and
train staff within 6 months.
6. Management Team:
6.1 Team Introduction: Briefly introduce important team members and their relevant
experience in fitness, technology, community participation, and Bhaktpur culture.
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6.2 Board of Advisors: Consider establishing an advisory board with local and
industry experts to offer guidance and expertise.
7. Overall Schedule:
Develop a clear timeline with milestones for each section of the plan, including
facility acquisition, staff hiring, technology implementation, and marketing launch.
8. Financial Projections:
8.1 Revenue Sources: Membership fees, class fees, personal training, retail
partnerships, and community events.
8.2 Projected Financials: Provide realistic projections for income, expenses, profits,
and break-even point within three years.
8.3 Funding Request: Specify amount of funding required, intended use of funds,
and potential return on investment for investors.
9. Exit Strategy:
Outline potential future options for the business, such as franchising, expansion in
different localities, or strategic partnerships, maximizing investor value.
10. Conclusion:
Kool Fitness Hub is more than just a gym; it represents a dedication to dynamic
energy and intergenerational relationships in Bhaktapur. Joining us means creating a
healthy community, breaking down generational boundaries, and embracing
technology's endless potential. It's more than simply a company; it's a movement
dedicated to well-being and the dynamic spirit of Bhaktapur.
