ENT300

FUNDAMENTALS OF ENTREPRENEURSHIP

BUSINESS PLAN

Muscleverse FitFactory

PREPARED BY
NO. NAME UITM ID NO GROUP CODE
1. MUHAMMAD AKMAL HAFIZ BIN 2020843623 ENT 300
ZAINUDDIN
2. SHAH ISKANDAR BIN AZMAN 2020839972 ENT 300
3. MUHAMMAD ALIEF BIN MOHD ARIF 2020852416 ENT 300
4. MOHD FARHAN AQMA BIN SHAMRE 2020854752 ENT 300
5. MOHAMAD SYAMIL BIN ABDULLAH 2020836164 ENT 300
IBRAHIM
6.

PREPARED FOR
LECTURE : PUAN NORYANNE AMER
R’S NAME
SEMESTER : MAC-OGOS 2022
SUBMISSI :
ON DATE
 TABLE OF CONTENTS

EXECUTIVE SUMMARY

1.0 INTRODUCTION:
1.1 Business Description 1-4
1.2 Owner Description 5-9

2.0 ADMINISTRATION PLAN 10-18

2.1 INTRODUCTION TO THE ORGANIZATION
2.2 ORGANIZATION CHART
2.3 ADMINISTRATION PERSONNEL
2.4 OFFICE EQUIPMENT & SUPPLIES
2.5 OFFICE FURNITURE AND FITTINGS
2.6 ADMINISTRATIVE BUDGET

3.0 MARKETING PLAN 19-27

3.1 MARKETING OBJECTIVES
3.2 SERVICE DESCRIPTION
3.3 TARGET MARKET
3.4 MARKET TREND & MARKET SIZE
3.5 COMPETITION
3.6 MARKET SHARE
3.7 SALES FORECAST
3.8 MARKETING STRATEGY
3.9 MARKETING BUDGET

4.0 OPERATION PLAN 28-42

4.1 Operations Objectives
4.2 Process Planning
4.3 Operations Layout
4.4 Capacity Planning
4.5 Material Planning
4.6 Machines and Equipment Planning
4.7 MANPOWER PLANNING
4.8 OVERHEAD REQUIREMENT
4.9 LOCATION

5.0 FINANCIAL PLAN 43-55

5.1 FINANCIAL OBJECTIVES
5.2 PROJECT IMPLEMENTATION COST
 5.3 SOURCES OF FINANCE
5.4 LOAN AMORTIZATION REPAYMENT SCHEDULE
5.5 HIRE PURCHASE REPAYMENT SCHEDULE
5.6 PRO FORMA INCOME STATEMENT
5.7 PRO FORMA BALANCE SHEET
5.8 FINANCIAL ANALYSIS

6.0 BUSINESS MODEL CANVAS (BMC) 56-57

7.0 CONCLUSION 58-59

APPENDICES 60- 73
EXECUTIVE SUMMARY

Muscleverse FitFactory Fitness offers F i t n e s s , l i f t i n g a n d physical treatment for

customers, gives high satisfaction of services and positive outcome results for the body.
Our primary strategy and aim is to provide service and teach about fitness and healthy life
to people in all age range begin with teenagers, adult and also for both gender. We always
looking forward to our customer satisfaction towards our services. Since our company is
listed as a new company in the market, so there will be many aspects that we need to
consider in order to make sure that our company can compete with other Gym centre and
fulfill the customer need as there are many people involved in business industry including
health services. In addition, nowadays there are many cases which involve with obesity
problem what become more surprising is it not only coming from adult but it also got case that
involved children. We see this as an opportunity to grab chances in order to gain customers
besides help others who are in need especially people with chronic problem like obesity to
have better quality of life. Our business is run by six main workers which are general
manager, administration manager, marketing manager, operation manager and financial
manager. All of us play a vital role in this business and we will make sure that this business
will be successful. From our observation, we are targeting a big scope of customers as our
gym is located at the city and nearby with many studies institute which there will be higher
chances to gain customers and can attract them to get services from our Gym Fitness.
Furthermore, our business location is very strategic as our clinic is near to shop lots and
residential areas. We believe that we will be able to achieve our business goal with our
business financial position statement. With the quality services and well education
background of Fitness and healty, we are pretty sure that good words about our services will
be spread among customers. Our services will provide and apply the most efficient
treatment based on customer’s assessment outcome result such as stretching exercises,
strengthening exercises, lifting, yoga and make sure the customer who comes to our gym will
successfully achieve their target. We will also provide a trainer especially for c u s t o m e r
who want to learn about lifting and got target but did not know how
t o s t a r t e d i t . So our trainer will be responsibility to guide them and make sure they will
achieve their target. We hope that Muscleverse FitFactory Fitness can be a well-known
Gym Centre in this area and other area as well and able to provide greater services from
time to time. Last but not least, it is our pleasure to be the benchmark of other people who
are interested to start business in health services especially in Healthy and Fitness to born
community who love healthy life.
1.1 BUSINESS DESCRIPTION

Name of Business  Muscleverse FitFactory

Business address  Bussines Centre 32,Persiaran SIBC

2,Bandar Seri Iskandar,32610 Seri
Iskandar,Perak

Business legal entity  Partnership

Nature of Business  Service Business

Social media  Muscleverse FitFactory

(Instagram / Facebook)
Email address  Muscleverse FitFactory@gmail.com

Telephone number  03-5685123

Factors in selecting the  The Area been choosen was near with many
proposed business (the studies institute so there are many students that
opportunity) need a gym & fitness service
 After do some research and survey, there was
no any GYM centre that been opened at here
and can be join regardless of gender
 Higher chances to gain customers from varies
age range.
 Has potential for growth
 The place is strategic

Future prospects the  Our GYM will be the most visited fitness centre
of business in Seri Iskandar after 1 year of opening
eventhough then will have another gym been
open
 Muscleverse FitFactory will open another
branch of Fitness centre in another area also in
Perak such as Ipoh as we target that our
financial status will be enough and very
stable during that year.

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Purpose of Preparing Business Plan

1) Opportunity for entrepreneur to assess the business venture objectively, practically and
critically.
2) To study and evaluate the feasibility of business.
3) To convince venture capitalists, investors and bankers in order to raise capital and
obtain support for the venture.
4) Business plan is also for guideline for day to day management of business.
5) To be able to distribute business resources more effectively.

Business Background

Business Main Activity

Core activity : We provide Fitness and healthy services which is specifically

for children, adult, women and elderly.
We also make a add on service which is serving service part
time trainer where our part time trainer will guide the
customer how to have a muscle and become a healthy and
fit person

The service that been provide will help customer

successfully becoming what they want for their body.

These are the lists of what our part time trainer will given to
them :

1) Evaluate your current program

2) Examine your goals
3) Hold your accountable
4) Teach you and guide about lifting
5) Watch and take care your nutrition
6) Give a moral support
7) Being a workout partner
8) Give more information about fitness and healthy life

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Our gym also provides some nutrition and supplement for
our customer to make sure their progress become fluently
and successfully.

These are the list of what supplements that we provide and

sell for them:

1)Creatine powder
2)Glutamine powder
3)Whey Protein Powder
4)Carbohydrates powder
5)Vitamin

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Other activities : There are 4 main business activities which are very vital in
order to make sure that the core activity will proceed and go
smoothly.
 Administration The administration manager is responsible in this activity
and will arrange the entire personnel administration plan. In
addition, administration manager also has to make sure that
all equipment are adequate and effective for the treatment.
 Marketing Marketing manager is responsible to plan on marketing
strategies in order to gain profit as much as possible. Such
as promoting through media social, using banners and
sharing session about health care at Live Instagram to
attract more customers.
 Operational Operational manager will make sure that Muscleverse
FitFactory can achieve the set standard and also analyze
customer’s need and feedback after the treatment.

 Financial Generally, financial manager will in charge of the cash flow

and also planning of business budget.

Business 11th January 2022

Commencement
Registration Details 13th December 2021

Banking Details Muscleverse FitFactory

MAYBANK :164953283046

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1.2 OWNER DESCRIPTION
BUSINESS PARTNER BACKGROUND

Name MUHAMMAD AKMAL HAFIZ BIN

ZAINUDDIN
Identity Card Number 021012-01-0285
Date of Birth 12 OCTOBER 2002
Marital Status Single
Permanent Address No 22,lorong nilam 2,perumahan
bandar mas,81900,kota tinggi,johor
Correspondence Address No 22,lorong nilam 2,perumahan
bandar mas,81900,kota tinggi,johor
Email Address apiskaafpl@gmail.com
Telephone Number +6011-2771 5325
Academic Qualification Diploma in sport science management
Course Attended  International Webinar Series Best
Practice in sport fitness
Management
 Fitness Webinar Series 1 (2020)
Skills  Great in leadership
 Excellent in team working
 Problem solving
Experience  Attend International Webinar Series
Best Practice in Sport Fitness
Management
 Fitness Trainer Practice for 6 month
in:
-Celebrity fitness
-Anytime fitness
 Part time at anytime
fitness,Johor xBahru
X RM 10 653.25

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Name MOHD FARHAN AQMA BIN SHAMRE
Identity Card Number 020311-13-0725
Date of Birth 11 MARCH 2002
Marital Status Single
Permanent Address No 1706,aras5,perumahan polis
daerah pekan 26600 pekan pahang
Correspondence Address No 1706,aras5,perumahan polis daerah
pekan 26600 pekan pahang
Email Address Faanke2@gmail.com
Telephone Number +6011-3681 0217
Academic Qualification Diploma in Sport Science
Course Attended  International Webinar Best Practice
in Fitness Management
 Fitness Webinar Series 1 (2020)

Skills  Good time management

 Excellent in team working
 Creative and innovative
Experience Part time at GYM Fitness Centre
for 6 month in:
-Fitness culture
-Sped Gym
Capital Contribution RM 10 653.25

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Name MUHAMMAD ALIEF BIN MOHD ARIF
Identity Card Number 020617-10-1361
Date of Birth 17 JUNE 2002
Marital Status Single
Permanent Address B-2-10 PPR SERI MALAYSIA DESA
PETALING,57100 KUALA LUMPUR
Correspondence Address B-2-10 PPR SERI MALAYSIA DESA
PETALING,57100 KUALA LUMPUR
Email Address aliefarif12@gmail.com
Telephone Number +6017-672 7836
Academic Qualification Diploma in Sport Science
Course Attended  International Webinar Seriesl Best
Practice in Fitness Management
 Fitness Webinar Series 1 (2020)

Skills  Great in communication skills

 Ability to be encouraging,
empathetic and firm
 Excellent in team working
Experience  Part time at Famous fitness
centre - Celebrity Fitness,the
mines
 Fitness and healthy Practice for 6
month in:
-
-Fire station Fitness,bukit damansa
Capital Contribution RM 10 653.25

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Name SHAH ISKANDAR BIN AZMAN
Identity Card Number 020930050193
Date of Birth 30 SEPTEMBER 2002
Marital Status Single
Permanent Address No 143,blok 3,Felda Serting
Hilir ,5,72120 Bandar Seri
Jempol,Negeri Sembilan
Correspondence Address No 143,blok 3,Felda Serting
Hilir ,5,72120 Bandar Seri
Jempol,Negeri Sembilan
Email Address Shahiskandar9494@gmail.com
Telephone Number +6010-430 5232
Academic Qualification Diploma in Sport Science
Course Attended  International Webinar Series Best
Practice in Fitness Management
 Fitness Webinar Series 1 (2020)

Skills  Great in comunication skills

 Excellent in team working
 Patience in handling Person
Experience  Part time in RJLN9 Fitness
 Fitness and healthy conductor in
RJLN9 fitness

Capital Contribution RM 10 653.25

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Name MOHAMMAD SYAMIL BIN ABDULLAH
IBRAHIM
Identity Card Number 021028-13-1217
Date of Birth 28 OCTOBER 2002
Marital Status Single
Permanent Address Lot 8073,Jalan Suria Lorong
5,Taman Jelita,98000 Miri,Sarawak
Correspondence Address Lot 8073,Jalan Suria Lorong
5,Taman Jelita,98000 Miri,Sarawak
Email Address syamilsyaim@gmail.com
Telephone Number +60 12-858 4394
Academic Qualification Diploma in Sport Science
Course Attended  International Webinar Series Best
Practice in Fitness Management
 Fitness Webinar Series 1 (2020)

Skills  Great in Finding suppliers

 Excellent in team working
 Great in marketing bussines
Experience  Part time in Sarawak Medical and
Fitness& Physio Center for 6 month

Capital Contribution RM 10 653.25

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Name AHMAD NAUFAL BIN MOHD RIZLAN
Identity Card Number 011125110013
Date of Birth 11 Novermber 2001
Marital Status Single
Permanent Address Lot34776 Kampung Banggol Pauh,
Jalan Tengku Ampuan Bariah, 21300
Kuala Nerus, Terengganu
Correspondence Address Lot34776 Kampung Banggol Pauh,
Jalan Tengku Ampuan Bariah, 21300
Kuala Nerus, Terengganu
Email Address naufalmad2511@gmail.com
Telephone Number +60 11-6218 9063
Academic Qualification Diploma in Sport Science
Course Attended  International Webinar Series Best
Practice in Fitness Management
 Fitness Webinar Series 1 (2020)

Skills  Great in Comunication skills

 Excellent in team working
 Patience in handling client
Experience  Part time in Gym Fitness Xpress
KT
 Personal trainer practice for 3 months
in:
- Fitness Mega centre
- Active Fitness studio
Capital Contribution RM 10 653.25

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BUSINESS LOCATION
Having a good location is one of the advantages in business world. It can obtain us to align
with our organization’s objectives and needs which then also will allow us to maximize a firm
opportunity with a low costs and risk. Strategic location also gives us adequate access to
customers, transportation, workers and so on.

Muscleverse FitFactory is planned to be located at Bandar Universiti in Seri Iskandar,Perak.

Bandar University is the main town that gather all student from the various university
nearby.It also been called Bandar University because there have lot of institute nearby by
that town.We are planning to rent a shop lot building in Bandar Universiti,Seri iskandar. It will
be on the first floor and will located below of Baker’S Cottage Shop. We decided to open a
GYM&Fitness Centre there because the location is very strategic.The most important reason
we choose this location is because it is near to residential area and also a student area. Also,
there are restaurants around the corner. Plus, it was the first gym building that been
build at there.

The building we choose was an a shop lot and it very strategic place because of that we are
deciding to choose the lot to be rent. We chose to rent a ground floor because the area size
was more wide than from first floor. The Lot that been choosen was already has good tile
flooring and plaster ceiling. Hence,we do not need to spend more money on renovation.
While, basic amenities are available in our area because it is a developing city, a lot of
facilities and amenities have been provided such as, road, water, electricity, telephone, and
internet.

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2.1 INTRODUCTION TO THE ORGANIZATION
VISION
Muscleverse FItFactory strives to be number 1 service provider to improve quality of life for
our patients and bridging the healthcare and fitness barrier for population with minimal health
and fitness facilities in Malaysia.

MISSION

Muscleverse FItFactory aims to enhance the mobility, fitness, and quality of life
especially in Improve cardiorespiratory and muscular fitness. Decrease levels of body fat.
Reduce symptoms of depression. Improve cognitive skills..

MOTTO

‘The pain you suffer today is the sign of tomorrow’s victory’

Our motto shows how passionate we are in treating our patients in improving their quality of
life. It is to help them live their lives the best. We are providing the best treatment and
service that our customers deserve. Other than that, our guidance help enhancing
Customer’s activity daily living.

OBJECTIVE

 To offer excellent and best s e r v i c e especially to b o d y , f i t n e s s a n d

mental health.

 To close the 90 percent fitness disparity in the world in Perak.

 To give complete accessibility to therapy and stress relief, especially for all the
student in this remote Seri Iskandar, Perak area who are busy with their coursework
and school..
 To improve 80% customer’ functional activity or activity daily life (ADL)

SHORT TERM GOALS

 M u s c l e v e r s e F i t F a c t o r y F i t n e s s get to known and acceptance by

nearby community in 2 months.
 Getting first customer in first day of opening Muscleverse FitFactory Fitness.
 Money in or income for at least RM10 000 for the first month of opening .
 Customer satiesfied with our service and all facilities that been avaible for them
 Can bringing on add on item such as protein and other supplement for customer who
need it
 Giving service to student who did not get time to use their gym centre in
the college because need to share with others student.
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LONG TERM GOALS

 Always give best service to avoid other complications of our Customer with certain impairments
 During the first year of operation, we target to receive 40% of our customer’s is from
nearby institute which is UITM AND UTP. This will help our Gym Centre maintain a
consistent Customer population.
 This Fitness centre will be well known in Malaysia in upcoming 5 years.
 To increase community involvement over the next five years in order to become more engaged
and productive in our neighbourhood.
BUSINESS LOGO AND DESCRIPTION

Our gym and fitness centre is being called Muscleverse FitFactory. The meaning of each
word in the name is distinct. The Muscleverse symbolises for creating a cosmos with only
healthy and fit people so that there won't be any sick people who will shatter our ambitions.
While "FitFactory" is a fantastic word, we decided to utilise it. In order to avoid being a part of
an unhealthy community, we want to create a community that is always active and healthy.

Our logo has its own deep meaning for every element that appears on that logo. in our
names.
 “Muscleverse FitFactory” represents our business name. It is in pink color to show
that the co-founder are all ambitious ladies.
 “The pain you suffer today is the sign of tomorrow’s victory” specifies our motto.
It expresses our passion to provide our service so that people with conditions can
live better and improve quality of life. .
 Raise hand with showing muscles indicate we are always will give a big support to all
our customer achieve their target.
 FitFactory means we will produce a person who stronger and fit everydays so they will live with
normally and happily.

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LOCATION
Muscleverse FitFactory location is very strategic as our Gym is near to shop lots and
residential areas also institute of study. It also located facing the main road so our gym will
easy to find and see. It is an office building.
Location :Business Centre, 32, Persiaran SIBC 2, Bandar Seri Iskandar, 32610
Seri Iskandar, Perak

Property Details
Property Type : Shop / Office for Rent
Property title Type : Individual
Built-up Size : 4880 sq.ft (Ground floor)

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 2.2 ORGANIZATION CHART

GENERAL MANAGER
(MUHAMMAD AKMAL
HAFIZ BIN ZAINUDDIN)

ADMINISTRATION MARKETING
OPERATION FINANCIAL
MANAGER MANAGER
MANAGER MANAGER
(MOHD FARHAN (SHAH ISKANDAR
(AHMAD NAUFAL (MOHAMAD
AQMA BIN SHAMRE) BIN AZMAN)
BIN MOHD RIZLAN) SYAMIL BIN
ABDULLAH
IBRAHIM)

MARKETING
MANAGER
(MUHAMMAD
ALIEF BIN MOHD
ARIF)

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2.3 ADMINISTRATION PERSONNEL
Table 1: List of Administration Personnel
POSITION NO. OF
PERSONNELS
General Manager 1
Administration Manager 1
Marketing Manager 2
Operation Manager 1
Financial Manager 1

Table 2: Schedule of Tasks and Responsibilities

POSITION TASKS AND RESPONSIBILITIES

General Manager  Responsible in managing the company towards
the vision, mission, and the objectives of the
company.
 To plan, organize, lead and, control the daily
operations of a business, region, operating unit
or division.
 Acts as a decision marker and cooperate gaining
ideas to improve the business.
 Monitor activities to ensure that all are being
accomplished as planned.
Administration Manager  Responsible to arrange the entire personnel
administration plan.
 To make sure that all equipment’s are adequate
and effective for the treatment.
 To make sure the systematically of the
management system.
 Controlling and handling the staff salary.
 To deliberate the tasks and job description of the
stall.
 Provide service and treatment to patients.
Marketing Manager  Responsible to plan on marketing strategies to
gain profit as much as possible.
 Analyzing the shares, targets, and size of the

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 marketing.
 Analyzing about product and service from other
competitors.
 Provide service and treatment to patients.
Operation Manager  Responsible to make sure that Muscleverse
FitFactory Fitness can achieve the set standard.
 Control all the technical side of the business
operation.
 Analyze customer’s need and feedback after the
treatment.
 Provide service and treatment to patients.
Financial Manager  Responsible in charge of the cash flow.
 Planning of business budget.
 Supervising and handling financial report,
investments portfolios, accounting, and all kinds
of financial analysis for an organization.
 To control the financial statement and profit or
loss of business
 Provide service and treatment to patients.

Table 3: Schedule of Remuneration

POSITION NO. MONTHLY EPF SOCSO TOTAL

SALARY (RM) (RM) AMOUNT (RM)
(RM) (B) (C) (A+B+C)
(A)
General 1 4000.00 520.00 69.05 4589.05
manager
Administration 1 3500.00 455.00 62.15 4017.15
Manager
Marketing 1 3500.00 455.00 62.15 4017.15
manager
Operational 1 3500.00 455.00 62.15 4017.15
Manager
Financial 1 3500.00 455.00 62.15 4017.15
Manager
TOTAL 5 16 640.50

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2.4 OFFICE EQUIPMENT & SUPPLIES
Table 4: List of Office Equipment & Supplies

TYPE PRICE/UNIT QUANTITY TOTAL AMOUNT

(RM) (RM)
EQUIPMENT
Computer 3500.00 2 7000.00
Telephone 2000.00 1 2000.00
Printer 700.00 1 700.00
Wireless router (Wi-Fi) 1300.00 1 1300.00
Ceiling Fans 180.00 2 360.00
1 door chiller 1700 1 1700.00
Photocopy Machine 800 1 800
TOTAL 13860.00
SUPPLIES
A4 Paper 20.00 2 40.00
Pen/box 20.00 1 20.00
Printer Ink 40.00 10 400.00
Calculator 30.00 2 60.00
Notepads 2.00 10 20.00
Others Expenditure 100.00

TOTAL 640.00

2.5 OFFICE FURNITURE AND FITTINGS

Table 5: List of Office Furniture and Fittings

TYPE PRICE/UNIT (RM) QUANTITY TOTAL AMOUNT

(RM)
Table & Chair Office 2000.00 1 2000.00
Front Desk 990.00 1 990.00
Cabinet 500.00 4 2000.00
Cupboard 160.00 4 640.00
Training Bench 400.00 3 1200.00

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 Dumbell set 4500.00 1 4500.00
Chest press machine 1400.00 2 2800.00
set
Leg extension 2500.00 2 5000.00
machine set
Barbell set 6500.00 1 6500.00
Kettle bell set 250.00 1 250.00
Pull up Frame and 2000.00 1 2000.00
bar
Machine squat rack 2200.00 1 2200.00
frame weight bench
press
Treadmill 1880.00 3 5400.00
Stationery bicycle 350.00 2 700.00
Rowing machine 1200.00 2 2400.00
Fitness ball set 280.00 1 280.00
Roll out whell 10.00 3 30.00
Word parralets set 150.00 1 150.00
Band and tubes for 450.00 1 450.00
rehabilitation set
Compartment steel 850.00 1 850.00
locker set
TOTAL 40 340.00

2.6 ADMINISTRATIVE BUDGET

Table 6: Administration Budget

ITEMS FIXED ASSETS MONTHLY EXPENSES OTHER EXPENSES

(RM) (RM) (RM)
Fixed Assets
Office Equipment 13 860
Furniture & Fittings 40 340
Renovation 18 00
Working Capital
Rent 1500
Utilities 2000
Salaries, EPF & SOCSO 16,641
Pre-Operations
Deposit (rent, utilities, etc) 1800
Business Registration & 2000
Licence 16,641
Other Expenditure 1000

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TOTAL 56 301

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3.1 MARKETING OBJECTIVES

Muscleverse FitFactory objectives are as follows :

 To ensure that Muscleverse FitFactory is well-known among 30% of Seri

Iskandar community in the first 3 months.
 To be the most visited gym in Seri Iskandar after 1 year of opening.
 To increase profits by RM1 million for the next 3 years of operation.
 To increase sales by 25% by 2024.
 To increase market share by 20% by 2024.
 To penetrate the market by 70% and be the first choice of customers.
 To provide feedback from 50% of our customers.
 To enter the global market and become one of the strongest competitors by the next
7 years of operating.

3.2 SERVICE DESCRIPTION

Muscleverse FitFactory is a facility for health, recreation, and social interaction

that promotes physical activity. It could be a for-profit business establishment or a facility
backed by the local government or an institution. Both serious athletes and casual leisure
users can use a successful facility.

Activities include planned, group fitness possibilities like swimming,

weightlifting, and spinning classes as well as structured and impromptu team sports.
Other activities include organised, group educational programmes like yoga, martial arts,
and organised spinning classes. Individual exercises can either be self-directed or
supervised by a trainer. A running track, a swimming pool, and sports fields are examples
of elements that can be found in a fitness centre that can accommodate outside activities.

Muscleverse FitFactory's social component, which supports physical goals while

also promoting social contact, serves as an important secondary role. A juice or snack bar,
sports spectator seating, saunas, and hot tubs are a few of these.

3.3 TARGET MARKET

Segmenting Market

The activity of grouping or segmenting a market of potential customers based on different criteria is
known as market segmentation. Consumers that respond similarly to marketing strategies and who
have traits in common, such as shared hobbies, requirements, or locations, make up the segments. Its
goal is to ensure that companies may segment their clientele to more effectively promote their goods
and services.
  Geographic segmentation
 Demographic segmentation
 Psychographic segmentation

Geographic Segmentation

The division of a company's market depending on geography is known as geographic segmentation.

Cities, counties, regions, countries, and foreign territories are all possible geographic segments for a
market. The three types of markets are urban, suburban, and rural. We can identify the product that the
customer needs in a specific location using this segmentation.

For Muscleverse FitFactory, Business Centre 32,Persiaran SIBC 2,Bandar Seri

Iskandar,32610 Seri Iskandar, Perak had been selected as our company location. It can be
assumed as a developing rural area. Our business location is very strategic as our gym is
near to shop lots and residential areas which will make it easier for them to come . Our gym
is very suitable to open there because there is just a two gym or fitness center nearby at our
location that we select. This will be our big opportunity to set up the fitness center.

Demographic Segmentation

Demographic segmentation is known as market segmentation based on age, race, religion,

gender, family size, ethnicity, income, and education. To assist a business target its
customers more precisely, demographics can be split into a number of markets. We provide
our service to people of all ages and genders. We also provide trainers for customers who
lack knowledge about the fitness and gym and for those who need it.

Psychographic Segmentations

Based on the customer's lifestyle, psychographic segmentation divides the market into
different divisions. AIO surveys, which measure activities, interests, and opinions, are one
kind of lifestyle measurement technique. It examines a few things that could have an effect
on consumer attitudes, expectations, and behaviour. It was created in the 1970s and
employs behavioural and social sciences to look at the attitudes, values, personalities, and
communication preferences of customers as well as their decision-making processes.

According to our research, the majority of people in Seri Iskandar lead sedentary lifestyles. A
lifestyle type known as the sedentary lifestyle is characterised by a lot of sedentary
behaviour. A person who has a sedentary lifestyle spends the majority of their time sitting or
lying down while doing things like socialising, watching TV, playing video games, reading,
using a mobile phone, or using a computer. Poor health, diseases, and other preventable
causes of mortality are all impacted by a sedentary lifestyle. With this, we can take this
opportunity by creating a campaign to attract people's attention to start taking care of health
by doing exercise and some other activities in our fitness center.
3.4 MARKET TREND & MARKET SIZE

Market Trend

Aging population and increased life expectancy are expected to increase the demand for
fitness care facilities. As a result of the rapid increase in the number of people who do not
have a good level of fitness, trainers, equipment for exercise and suitable places to
exercise should all be more widely available. Additionally, the growing concern for health
and fitness is expected to lead to an increase in the number of sports injuries. Therefore,
it causes a higher demand for fitness center services

Market Size:

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 Population of targeted customers in Seri Iskandar, Perak
:100, 900 people

Males=51.1%

Female=48.9%

GENDER PERSONS
Males 51,60
0
Females 49,30
0

Population x Average Price = Market Size

100,900 x 300 = 30,270,000 (Market Size)

Our sales forecast is 3% from market size

30,270,000 x 3% = 908,100 (per year)

From sales forecasting we would be able to generate how many patients per year.

Our fee price is RM300 per month.

908,100/100 = 3027 customer per year

3,027/12 = 253 customer per month (RM75,900 per month).

253/26 = 10 customer per day (RM3,000 per day).

No. Treatment Estimates Sales Total Estimated Total Estimated

Per Treatment Sales/Monthly (RM) Sales/Yearly
(Rm)

1 Fitness RM300 x 253 75,900 910,800

3.5 Competition – Strength & Weakness Of Competitors

Competitors Strength Weakness

TRex Gym Established business because it is Did not have any specialization on
already operated for a long time fitness and outdated equipment

Badang Fitness Gym It has more machines and still new New market and still and does not
have existing customers

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3.6 MARKET SHARE
Market share defines as the division of market or sales between companies that are running
the same type of business activities. It will consider the number of competitors, experience,
strength, and weaknesses. The table below will show the market share division before and
after our company has penetrated the market.

Market share before the entrance of Muscleverse FitFactory:

Competitors Market Share Total Market Share
(%) (RM)

TRex Gym 52 9,449,550

Badang Fitness Gym 48 7,445,100

Total 100 16,894,650

Market share after the entrance of Muscleverse FitFactory:

Total Market
Market Share
Share
After
Market Share Market
Entrance (RM)
Before Entrance Loss
Competitors (%) (%) (%)

TRex Gym 52 1 51 9,163,200

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 Badang Fitness
Gym 48 1 47 7,158,750

Muscleverse
FitFactory - - 3 910,800

Total 100 5 100 17,232,750

3.7 SALES FORECAST

Sales Forecast for Year:

Month Sales Forecast (RM)

January 68,500
February 68,500
March 68,500
April 75,900
May 75,900
June 75,900
July 75,900
August 75,900
September 75,900
October 83,300
November 83,300
December 83,300
Total 910,800

Sales Forecast by Year:

Year Percentage Increase (%) Sales Forecast (RM)

1 - 910,800
2 6 965,448
3 12 1,081,301.76

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3.8 MARKETING STRATEGY
Service Strategy
Name Muscleverse FitFactory
Service Quality All the instructors are qualified for be coach and had
experience on gym fitness. Plus, all of us had
attended a few courses during and after graduating.
Service Package Gym Member + Coaching = 300

Service differentiation Customer safety will be our priority. All the training
that we apply is based on the best current evidence.
Plus, we will do a thorough assessment before
applying any training

After sales service (if Follow-ups.

appropriate)
We will ask feedback from our patients about the
quality of the service to make improvements.

Pricing Strategy
For pricing strategy will be used based on competitions strategy. We will offer the best price
which is not too low or too high from our competitors.

Table below showed comparison prices between Muscleverse FitFactory and other
competitors.

Competitors Price (RM)

TRex Gym 350

Badang Fitness Gym 300

Muscleverse FitFactory 300

Place/Distribution Strategy
We provide direct service to our customers. This is due to our desire to maintain the
excellent quality of our services. Our business location is very strategic as our gym is near
to shop lots and residential areas which will make it easier for them to come seek for out
equipment and environment. Plus, we will make sure that our gym use a quality equipment
so the safety for our customer will be secure.

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Promotion Strategy

Advertising

Advertising is one of our advertising strategies, and we bought a signboard, distributed flyers,
and hung a banner. This approach is used to attract more customers from various cities and
ensure that our company is well-known. Apart from that, we use social media as part of our
promotion plan. This is one of the simplest ways to contact the client. We can successfully
extend our business by utilizing cutting-edge technologies. We will promote our gym fitness
through Facebook and Instagram(Muscleverse_FitFactory)

Table below showed budget for promotions.

ITEMS PRICE
Signboard 2000
Flyers 150
Banner & Bunting 350

3.9 MARKETING BUDGET

Items Fixed Asset Working Capital Other Expenses

(RM) (RM) (RM)

Fixed Assets
Van 40 000
Furniture & Fitting 4,000
Working Capital 2000
Promotion 1000
Petrol and Vehicle Maintenance
Other Expenditure
Other expenditure
500

Total (RM) 44,000 3,500 500

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33 | P a g e
4.1 OPERATION OBJECTIVE
The operation of a business organisation is one of the functions that is considered to be of
the utmost importance. The management of operations is absolutely necessary if a business
is going to be able to produce goods or provide services that are in accordance with the
requirements, standards, and expectations of the customer. In addition, operations
management can be defined as the process of coordinating the inputs that a business
receives in order to transform those inputs into outputs in the form of a product or service.
Therefore, in order to provide clear direction for the day-to-day operations of our company,
the operational objective should be attainable and detailed. It can be challenging to establish
operational objectives that are understood and accepted by all personnel due to the fact that
different personnel may have different priorities and values. Therefore, it is extremely
important to involve workers in the process of goal-setting and to explain the goals in as
much detail as is humanly possible. After agreeable operational goals have been established
for each division, business plans can be developed to figure out how to meet those goals.
The objectives include:
 To ascertain that all activities are carried out in a timely and cost-effective manner by
70% in 2024.
 To provide 100% of the best systems and methods for operation management on
daily basis.
 To increase 50% of efficiency level by purchasing good materials, inventory planning
and management of warehouse.
 To ensure the organization's processes is in according to high legal standard.
 To formulate the best of strategic and operational goals to remain competitive in the
market for 10 years.
 To produce financial data efficiently in order to maximize the profits.
 To manage business budgets and forecasts effectively by maximizing the sales and
minimizing the cost.
 To recruit, train and supervise staff efficiently for the highest level of performance
standard.
 To provide excellent quality of services to customers.

If an organisation is unable to achieve its goals and does not adequately prepare for
fundamental shifts, it runs the risk of losing valuable lead time and momentum in the fight
against those shifts when they do occur. A lack of direction in a company leads to problems
with morale among its employees because, from their point of view, the future is
unknowable, unpredictable, and beyond their ability to control. These disheartening findings
can only be interpreted as a threat to employment, which has a negative impact on
productivity as a direct result. Because of this, the importance of strategic planning in
business cannot be overstated.

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4.2 PROCESS PLANNING

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4.3 OPERATION LAYOUT

Registration at the
reception

Provide a package of Provide a

gym time membership with
trainer

receive consultation
from trainer

Patient will then

receive treatment in
the treatment room

If necessary,
customers must
schedule their next
appointment at the
front desk.

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4.4 CAPACITY PLANNING
Information Calculation

Total work days 26 days

Number of customers in a month 253 customer/month

Daily patient 253= 9 customer/day

26

No. of population in location selected 100, 900

(Seri Iskandar, Johor)

Sales forecast monthly RM 300 × 253 units = RM 75,900

Sales forecast yearly RM 75,900× 12months = RM 910,800

Market size (100, 900 × RM 300) × 3%

=RM 10,090,000 per year

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4.5 MACHINES AND EQUIPMENT PLANNING
Table below show list of machines and equipment

ITEMS QUANTITY PRICE PER UNIT TOTAL COST (RM)

(RM)

Training Bench 3 400 1200

Dumbbell set 1 4500 4500

Chest press machine 2 1400 2800

set

Leg extension 2 2500 5000

machine set

Barbell set 1 6500 6500

Kettle bell set 1 250 250

Pull up Frame and bar 1 2000 2000

Machine squat rack 1 2200 2200

frame weight bench
press

Treadmill 3 1880 5400

Stationary bicycle 2 350 700

Rowing machine 2 1200 2400

Fitness ball set 1 280 280

Roll out whell 3 10 30

Word parralets set 1 150 150

Band and tubes for 1 450 450

rehabilitation set

Compartment steel 1 850 850

locker set

TOTAL RM 34,710

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NO ITEMS SUPPLIERS

1 Training Bench Fitness League Sdn. Bhd.

2 Dumbbell set Fitness League Sdn. Bhd.

3 Chest press machine set Fitness League Sdn. Bhd.

4 Leg extension machine set Fitness League Sdn. Bhd.

5 Barbell set Fitness League Sdn. Bhd.

6 Kettle bell set Fitness League Sdn. Bhd.

7 Pull up Frame and bar Fitness League Sdn. Bhd.

8 Machine squat rack frame weight bench Fitness League Sdn. Bhd.
press

9 Treadmill Fitness League Sdn. Bhd.

10 Stationary bicycle Fitness League Sdn. Bhd.

11 Rowing machine Fitness League Sdn. Bhd.

12 Fitness ball set Fitness League Sdn. Bhd.

13 Roll out whell Fitness League Sdn. Bhd.

14 Word parralets set Fitness League Sdn. Bhd.

15 Band and tubes for rehabilitation set Fitness League Sdn. Bhd.

16 Compartment steel locker set Fitness League Sdn. Bhd.

Supplier of Machines and Equipment

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4.6 MANPOWER PLANNING
No. of Worker Required = Planned Rate of Production per day x Worker Standard Production Time / Unit
Worker Productive Time per day
= 28 x 1
7 1

= 4 ≈ 4 Worker

4.7 OVERHEAD REQUIREMENT

Table below shows the total of overhead requirement cost.

Fixed Overhead Cost (RM)

Office Equipment 13 860
Business Registration & Licenses 5 000
Insurance & Road Tax 1 800
Variable Overhead Cost (Rm)
Rent 1 500
Utilities 2 000
Salaries, EPF and SOCSO 16 641
Promotions 2 000
Petrol and Vehicle Maintenance 1 000
TOTAL 43 801

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4.8 LOCATION
Muscleverse FitFactory location is very strategic as our Gym is near to shop lots and
residential areas also institute of study. It also located facing the main road so our gym will
easy to find and see. It is an office building.

Location : Business Centre, 32, Persiaran SIBC 2, Bandar Seri Iskandar,

32610 Seri Iskandar, Perak
Property Details
Property Type : Shop / Office for Rent
Property title : Individual
Built-up Size : 4880 sq.ft (Ground floor)

Source: Google Map

Based on the google map, it shows that this place is close to the residential area and has
homestay nearby. The area here is also good because the traffic is under control and not so
much busy compared to other city due to the brilliant and systematic lanes, roads and traffic
lights.

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4.8.1 BUSINESS AND OPERATION HOURS

Monday CLOSED

9am– 11pm
Tuesday

Wednesday

Thursday

Friday

Saturday
Sunday

Operation Rest Hour

Tuesday to Sunday (except Monday) 1 pm – 2 pm

Friday 12 am- 3 pm

4.8.2 LICENSE, PERMITS AND REGULATIONS REQUIRED

Importance of licenses
In order to start a business in Malaysia, we must first obtain a valid business licence.
Licenses, registrations, permit, and approvals are all importants. The Pihak Berkuasa
Melesen (PBM) can issue a business licence based on the location and type of business.
Our Muscleverse Fitfactory must comply with some form of licencing before it can lawfully
begin functioning, which could be a general licence, an industry/sector specific licence, or an
activity specific licence.

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 List of General licences required:

 Company Registration.
 Company and Employees Income Tax Registration.
 Employees Provident Fund.
 Social Security Organisation.
 Human Resources Development Fund.
 Business Premise Licenses and Signboard Licenses.

For Company

(i) Certificate of Incorporation (Form 9/ Notice Section 17) – 1 copy;

(ii) Return of Particulars of Directors, Managers and Secretaries (Form 49 / Notice

Section 58)– 1 copy;

(iii) Photos of our business premise (front and interior of premise);

(iv) Any one Director’s NRIC / Passport as stated in Form 49 / Notice Section 58 – 1 copy;

(v) Sample of signboard indicating design and color (if applicable);

(vi) Photos showing location of signboard (if applicable).

For Enterprise (Sole-proprietor / Partnership)

(i) Certificate of Registration of Business (Form D) – 1 copy;

(ii) e-SSM Business Profile – 1 copy;

(iii) Photos of business premise (front and interior of premise);

(iv) Copy of any Business owner/Partner’s NRIC as stated in Form 49 – 1 copy;

(v) Sample of signboard indicating design and color (if applicable);

(vi) Photos showing location of signboard (if applicable).

Activity Specific licenses

 Certificate of Fitness for Certified Machinery

 Building Plan Approval
 Sales Tax Licence

4.8.3 OPERATION BUDGET

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Table below show the operation budget

Item Fixed Asset Monthly Other

(RM) Expenses Expenses
(RM) (RM)

Fixed Assets
Machine 13 200
Equipment 13 860
Furniture and fitting 27 140
Working capital
Raw Materials
7600
Carriage inward and duty
300
Other expenditures
Deposit for rent Deposit for utilities 200

Total 54 200 7900 200

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45 | P a g e
5.1 FINANCIAL OBJECTIVES

Another main activity for business which is very vital to consider and have a better planning
is financial plan. Financial can be define as something which is relatable to finance, money,
economic, accounting and budgeting. In another words, it is a management of money which
also include activities such as investing, borrowing, lending, saving, budgeting and
forecasting.
A financial plan must include all financial data derived from the administration budgets,
marketing budgets and also operation budgets. All the information then will be translated and
transformed into financial budget. The financial plan include in determining the total project
cost, choice of sources of financing such as loan, grants, equity financing, venture capital,
guarantee scheme, tax incentives and many more, and also preparation on financial
projection in terms of pro forma statements that include cash flow, income statement, and
balance sheet. In addition, financial plan should be supported by depreciation schedules for
every fixed cost owned as well as amortization schedules for loan and hire purchase
repayments.

The objectives of financial plan are :

 To ensure the maximum capacity of internal source is generated
 To capitalize the maximum availability of internal sources
 To make sure that initial capital is adequate and sufficient
 To analyze 70% viability of business project before the actual investment is committed
 To ensure the project implementation is 100% success
 To ensure that the debt is restructured at least at minimal level

Without financial plan, cash flow for business might be unclear and also can cause problem
in the future as there is no trace of where the money is coming from and going to. In short,
financial plan and report is very important and act as a backbone of a business as it will keep
tracks of incoming and also outgoing money. In short, the four main financial objectives are
profitability, liquidity, efficiency and stability.

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5.2 PROJECT IMPLEMENTATION COST

 Administrative Budget

Administrative Budget

Fixed Assets RM

Office Equipment 14,500

Furniture & Fittings 40,340

Renovation 1000

Working Capital

Rent 1500

Utilities 2000

Salary, EPF & SOCSO 16,641

Pre-Operations

Deposit (rent, utilities, etc) 1800

Business Registration & License 5000

Other Expenditure 1000

TOTAL 83,781
00

Total administrative budget : RM 83, 781

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  Marketing Budget

Marketing Budget

Fixed Assets RM

Van 40,000

Furniture & Fittings 4000

Working Capital

Promotions 2000

Petrol and vehicle maintenance 1000

Other Expenditure

Other Expenditure 500

Pre-Operations

Insurance & Road Tax for Motor Vehicle 1800

TOTAL 49,300

Total marketing budget : RM 49,300

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  Operation Budget

Operation Budget

Fixed Assets RM

Machine 13200

Operation Equipment 13860

Furniture & Fittings 27140

Working Capital

Raw Materials & Packaging 7600

Carriage Inward & Duty 300

Other Expenditure

Other Expenditure 200

TOTAL 62,300

Total operations budget : RM 62,300

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5.3 SOURCES OF FINANCE

 Overview

Source of finance can be define as where a business gets money from in order to fund the
business activity such as in administration, marketing and also operation. It is very crucial
and vital for all entrepreneurs especially for beginners to have source of finance as a support
system towards their business. Choosing the right source and the right mix of finance is a
key challenge for every finance manager.

Source of finance can be divided based on time the source of generation, ownership and
control and based on time period.

On the basis of a time period, it can be classified into three, which are ;
 Long term (More than 5 years to 10, 15, 20 years)
 Medium term (3-5 years)
 Short term (less than 1 year)

While ownership and control can be divide into ;

 Owned (equity, preference, retained earnings, convertible debentures, venture fund)
 Borrowed ( financial institutions, commercial banks)

Generation of capital can be classified into ;

 Internal sources (retained profit, reduction or controlling of working capital, sale of
assets)
 External sources (equity, debt from banks)

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 Muscleverse FitFactory sources of finance

Project Implementation Cost Sources of Finance

Requirements Cost Loan Hire Own contributions

Purchase (Cash)
Fixed Assets

Office Equipment 14,500 9610 3250

Furniture & Fittings 40,340 25000 5000

Renovation 1000 1000

Van 40,000 35,000 5000

Furniture & Fittings 4000 3000

Machines 13200 3188 2000

Operation 13860 9017 2000

equipment
Furniture & Fittings 27140 4000

Working Capital

Administrative 20,141 14566 5875

Marketing 3000 500 2500

Operations 7900 5600 2300

Pre-operations 12,500 4000 8500

& Other
expenditure
Contingencies 13,391 7203 6188
(10%)
TOTAL 210,972 86,684 35,000 42,613

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5.4 LOAN AMORTIZATION REPAYMENT SCHEDULE

LOAN REPAYMENT SCHEDULE

Amount : 86,684
Interest Rate : 5%
Duration (years) : 5
Method : Annual Rest
Year Beginning Interest Principal Ending Balance
Balance
1 86,684 3978.76 15651.20 71032.75

2 71032.75 3178.00 16451.96 54580.75

3 54580.75 2336.29 17293.67 37287.03

4 37287.03 1451.51 18178.45 19108.54

5 19108.54 521.48 1918.48 0.00

6 0 0 - -

7 0 0 - -

8 0 0 - -

9 0 0 - -

10 0 0 - -

0 0 - -

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5.5 HIRE-PURCHASE REPAYMENT SCHEDULE

HIRE - PURCHASE REPAYMENT SCHEDULE

Amount : 35,000
Interest Rate : 5%
Duration (years) : 5

Year Principal Interest Total Payment Principle Balance

- - 35,000

1 7000 1750 8750 28,000

2 7000 1750 8750 21,000

3 7000 1750 8750 14,000

4 7000 1750 8750 7000

5 7000 1750 8750 -

6 0 0 - -

7 0 0 - -

8 0 0 - -

9 0 0 - -

10 0 0 - -

53 | P a g e
5.6 PRO FORMA INCOME STATEMENT

Year 1 Year 2 Year 3

Sales 859,200 988,080 1,074,000

Less : Cost of Sales
Opening stock
Purchase 91,200 104,880 114,000
Less : Ending Stock
Carriage Inward & Duty 3,600 4,140 5,175

Gross Profit
Less : Expenditure
Administrative Expenditure 245,286 282,079 352,599
Marketing Expenditure 36,000 41,400 51,750
Other Expenditure 700 805 1,006
Business Registration & License 5,000
Insurance & Road Tax Motor Vehicle 1,800 1,800 1,800
Other Pre-Operations Expenditure 1,000
Interest on Hire Purchase 1,750 1,750 1,750
Interest on Loan 3,484 2,787 2,090
Depreciation of Fixed Assets 18,013 18,013 18,013
Operations Expenditure
Total Expenditure 407,833 457,654 548,183

Net Profit Before Tax 451,367 530,426 525,817

Tax 0 0 0

Net Profit After Tax 451,367 530,426 525,817

Accumulated Net Profit 451,367 981,793 1,507,609

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5.7 PRO FORMA BALANCE SHEET

Year 1 Year 2 Year 3

Assets

Fixed Assets (Book Value)

Land & building
Office Equipment 12500 10,916 9,944
Furniture & Fittings 38340 36,000 32,000
Renovation 800 600 400

Van 32,000 24,000 16,000

Furniture & Fitting 3,200 2,400 1,600

Machines 12630 10256 8051

Operation Equipment 11250 9000 7562
Furniture & Fitting 26015 25001 23051
136,735 118,173 98,608
Current Assets
Stock of Raw Materials 0 0 0
Stock of Finished Goods 0 0 0
Accounts Receivable
Cash Balance 505,474 1,039,816 1,567,269

505,474 1,039,816 1,567,269

Other Assets
Deposit
4000 4000 4000

TOTAL ASSETS 581,526 1,097,855 1,607,295

Owner’s Equity
Capital 42,613 42,613 42,613
Accumulated Profit 451,367 981,793 1,507,609

493,980 1,024,406 1,550,222

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Long Term Liabilities
Loan Balance 55,746 41,810 27,873
Hire-Purchase Balance 28,000 21,000 14,000

83,746 62,810 41,873

Current Liabilities
Accounts Payable 3,800 10,640 15,200

TOTAL EQUITY & LIABILITIES 581,526 1,097,855 1,607,295

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5.8 FINANCIAL ANALYSIS

Year 1 Year 2 Year 3

PROFITABILITY

Sales 859,200 988,080 1,074,000

Gross Profit
Profit Before Tax 451,367 530,426 525,817
Profit After Tax 451,367 530,426 525,817
Accumulated Profit 451,367 981,793 1,507,609

LIQUIDITY

Total Cash Inflow 971,496 988,080 1,074,000

Total Cash Outflow 466,022 453,738 546,547
Surplus (Deficit) 505,474 534,342 527,453
Accumulated Cash 505,474 1,039,816 1,567,269

SAFETY

Owner’s Equity 493,980 1,024,406 1,550,222

Fixed Assets 72,052 54,039 36,026
Current Assets 505,474 1,039,816 1,567,269
Long Term Liabilities 83,746 62,810 41,873
Current Liabilities 3,800 10,640 15,200

FINANCIAL RATIOS

Profitability
Return on Sales 53% 54% 49%
Return on Equity 91% 52% 34%
Return on Investment 78% 48% 33%
Liquidity
Current Ratio 133.0 97.7 103.1
Quick Ratio (Acid Test) 133.0 97.7 103.1
Safety
Debt to Equity Ratio 0.2 0.1 0.0

BREAK-EVEN ANALYSIS

Break-Even Point (Sales) 353,450 393,766 484,617

Break Even Point (%) 41% 40% 45%

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 CHAPTER 6.0 :

BUSINESS MODEL CANVAS

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57 | P a g e
CHAPTER 7.0 : CONCLUSION

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Inconlusion, with a start up that has seen growth over the past years and our company’s
management team with 2 years and above of experience in the fitness industry. Contribution
to Malaysia healthcare and its citizens to be someone who is skilled in maintaining one's
physical well-being. In Muscleverse Fitfactory, If we cooperate and strive to become better,
we will be able to create more employment opportunities and jobs in specialised fields, as
well as change the direction of innovation and change the sector in which the fitness industry
operates.

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Appendices

a) Partnership Agreement

Mucleverse Fitfactory
FSPU Diploma in
Building Surveying
Universiti Teknologi MARA
(UiTM) Kampus Seri Iskandar,
Perak

12th. July 2022

Madam Noryanne Amer

Lecturer of Fundamental of Entrepreneurship
(ENT300) Faculty of Business and Management
UiTM Tapah, Perak

Dear Madam,
SUBMISSION OF THE BUSINESS PLAN

With reference to the matter above, our group would like to submit our business plan for your
kind evaluation and further action. With regard to the business that we wish to venture is
opening a fitness centre in Seri Iskandar, Perak. Our company’s name is Muscleverse
Fitfactory. Our business is a partnership set up with the following business partners and
address:

Partners:

1. MUHAMMAD AKMAL HAFIZ BIN ZAINUDDIN (2020843626)

2. AQMA ()
3. SHAH ()
4. ALIEF ()
5. SYAMIL ()
6. NAUFAL ().

Business address:
32, Persiaran SIBC 2, Bandar Seri Iskandar, 32610 Seri Iskandar, Perak.

We have tried our very best to prepare this business plan in according to the subject
requirements. This working paper is our group efforts and all experience gained are
valuable lessons for the entire group members.

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We hope that our business plan will satisfy your requirement for this subject (ENT 300). We
also hope that our business plan can provide some benefits to the other people as a
reference material for the future.

Sincerely,

NAME: MUHAMMAD NAME: MOHD

AKMAL HAFIZ BIN FARHAN AQMA BIN
ZAINUDDIN SHAMRE

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 PARTNERSHIP AGREEMENT

1. MUSCLEVERSE FITFACTORY
The parties hereby form a partnership under the name of “MUSCLEVERSE
FITFACTORY” to open a fitness centre. The location of the business shall
be at “32, Persiaran SIBC 2, Bandar Seri Iskandar, 32610 Seri Iskandar,
Perak.”.

2. Term
The partnership shall begin on “1 November 2021”, and shall continue
until every partners agreed to terminate this partnership agreement

3. Capital
The capital of the partnership shall be contributed in cash by the partners
as follows:

o A separate capital account shall be maintained for each partner.

o Neither partner shall withdraw any part of their capital account.
o Upon the demand of either partner, the capital accounts of the partners shall
be maintained at all times in the proportions in which the partners share in
the profits and losses of the partnership.The capital contribution to the
partnership is stated as follows:

Name Position Capital Percentage

Contribution Contributio n
(RM) (%)

BATRISYA FARIZAH Administration RM 10 653.25 25%

BINTI Manager

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MOHAMED ZALAMI
BATRISYA FARISAH Marketing RM 10 653.25 25%
BINTI Manager
MOHAMED ZALAMI
ALIAA BINTI ABDUL Operation RM 10 653.25 25%
MANAN Manager
FARAH ASHIQIN BINTI Financial Manager RM 10 653.25 25%
ZULFAKER
TOTAL RM 42,613 .00 100%

4. Profit and Loss

The net profit of the partnership shall be divided equally between the partners
and the net losses shall be borne equally by them. A separate income account
shall be maintained for each partner. Partnership profits and losses shall be
charged or credited to the separate income account of each partner. If a
partner has no credit balance in their income account, losses shall be charged
to their capital account.

5. Salaries and Withdrawals

Partners shall receive any salary for services rendered to the partnership. Each
partner may, from time to time, withdraw the credit balance in their income
account.

6. Interest

No interest shall be paid on the initial contributions to the capital of the

partnership or on any subsequent contributions of capital.

7. Management Duties and Restrictions

The partners shall have equal rights in the management of the partnership
business, and each partner shall devote their entire time to the conduct of the
business. Without the consent of the other partner neither partner shall on

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behalf of the partnership borrow or lend money, or make, deliver, or accept
any commercial paper, or execute any

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 mortgage, security agreement, bond, or lease, or purchase or contract to
purchase, or sell or contract to sell any property for or of the partnership other
than the type of property bought and sold in the regular course of its business.

8. Banking

All funds of the partnership shall be deposited in its name in such checking
account or accounts as shall be designated by the partners. All withdrawals
therefrom are to be made upon checks signed by either partner.

9. Books

The partnership books shall be maintained at the principal office of the

partnership, and each partner shall at all times have access to the books. The
books shall be kept on a fiscal year basis, and shall be closed and balanced at
the end of each fiscal year. An audit shall be made as of the closing date.

10. Voluntary Termination

The partnership may be dissolved at any time by agreement of the partners, in
which event the partners shall proceed with reasonable promptness to liquidate
the business of the partnership.

11. Death

Upon the death of either partner, the surviving partner shall have the right either
to purchase the interest of the decedent in the partnership or to terminate and
liquidate the partnership business.

12. Arbitration
Any controversy or claim arising out of or relating to this Agreement, or the
breach hereof, shall be settled by arbitration in accordance with the rules. In
witness whereof the parties have signed this Agreement.
Executed this on 1 October of 2021 in Kota Bharu, Kelantan, each partner
agreed and signed this agreement to show their commitment to this

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partnership.

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 (MARKETING MANAGER)
NAME: BATRISYA FARISAH BINTI MOHAMED ZALAMI
IC NO: 010612-03-1238

(OPERATIONS MANAGER)
NAME: ALIAA BINTI ABDUL MANAN
IC NO: 001217-03-0820

(ADMINISTRATION MANAGER)
NAME:BATRISYA FARIZAH BINTI MOHAMED ZALAMI
IC NO: 010612-03-1190

___________
(FINANCIAL MANAGER)
NAME: FARAH ASHIQIN BINTI ZULFAKER
IC NO: 010116-14-0072

Witnessed by:

NAME : PUAN SHAIRA BINTI ISMAIL

IC NO : -

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COMPENSATION AND BENEFITS
 Employment Act 1955
Employment law in Malaysia is generally governed by the
Employment Act 1955 (“Employment Act”). The Employment
Act sets out certain minimum benefits that are afforded to
applicable employees. For applicable employees – any clause
in an employment contract that purports to offer less
favourable benefits than those set out in the Employment Act,
shall be void and replaced with the minimum benefits in the
Employment Act.
The protection under the Employment Act only applies to these
categories of employees:
Employees whose monthly salary does not
exceed RM2,000 Employees who are
engaged in manual labour, regardless of
salary
Employees engaged in the operation or maintenance of
mechanically propelled vehicle
Employees who supervise or oversees other employees
engaged in manual labour Employees engaged in any
capacity on a vessel (subject to certain other conditions)

1). Rest day

Every employee shall be allowed in each week a rest

day of one whole day as may. be determined from time
to time by the employer.

2). Holidays

Every employee shall be entitled to a paid holiday at

his ordinary rate of pay on ten gazetted public holidays
in any one calendar year, four of which shall be--

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(a) the National Day;
(b) the Birthday of the Yang di-Pertuan Agong;
(c) the Birthday of the Ruler or the Yang di-Pertua
Negeri, as the case may be, of the State in which the
employee wholly or mainly works under his contract

69 | P a g e
 of service, or the Federal Territory Day, if the
employee wholly or mainly works in the Federal
Territory; and
(d) the Workers' Day:
Provided that if any of the said ten gazetted public
holidays falls on a rest day the working day following
immediately thereafter shall be a paid holiday in
substitution therefor

3). Annual leave

An employee shall be entitled to paid annual leave of--

(a) eight days for every twelve months of continuous
service with the same employer if he has been employed
by that employer for a period of less than two years;
(b) twelve days for every twelve months of continuous
service with the same employer if he has been
employed by that employer for a period of two years or
more but less than five years; and
(c) sixteen days for every twelve months of continuous
service with the same employer if he has been employed
by that employer for a period of five years or more, and if
he has not completed twelve months of continuous
service with the same employer during the year in which
his contract of service terminates, his entitlement to paid
annual leave shall be in direct proportion to the number
of completed months of service:

4). Sick leave

An employee shall, after examination at the expense of the

employer --
(a) by a registered medical practitioner duly appointed by the
employer; or
(b) if no such medical practitioner is appointed or, if

70 | P a g e
having regard to the nature or circumstances of the
illness, the services of the medical practitioner so
appointed are not obtainable within a reasonable time or
distance, by any other registered medical practitioner or
by a medical officer,
be entitled to paid sick leave, --
(aa) where no hospitalisation is necessary, --
(i) of fourteen days in the aggregate in each calendar
year if the employee has been employed for less than
two years;

71 | P a g e
 (ii) of eighteen days in the aggregate in each calendar
year if the employee has been employed for two years or
more but less than five years;
(iii) of twenty-two days in the aggregate in each calendar
year if the employee has been employed for five years or
more; or
(bb) of sixty days in the aggregate in each calendar year
if hospitalisation is necessary, as may be certified by
such registered medical practitioner or medical officer:
Provided that the total number of days of paid sick leave
in a calendar year which an employee is entitled to under
this section shall be sixty days in the aggregate;
An employee shall also be entitled to paid sick leave
under paragraphs (aa) and (bb) of subsection (1) after
examination by a dental surgeon as defined in the Dental
Act 1971:

5). Maternity leave

Every female employee shall be entitled to maternity

leave for a period of not less than sixty consecutive
days.

A female employee shall not be entitled to any

maternity allowance if at the time of her confinement
she has five or more surviving children.

6). Overtime

For any overtime work carried out in excess of the

normal hours of work, the employee shall be paid at a
rate not less than one and half times his hourly rate of
pay irrespective of the basis on which his rate of pay is
fixed. In this section "overtime" means the number of
hours of work carried out in excess of the normal hours
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of work per day. Provided that if any work is carried out
after the spread over period of ten hours, the whole
period beginning from the time that the said spread over
period ends up to the time that the employee ceases
work for the day shall be deemed to be overtime.

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 Any other terms and conditions are:-

1). Paternity Leave

Male employees are eligible to 2 working days leave for

the birth of their own child up to 5 surviving child.

2). Marriage Leave

Employees are entitled for 5 days leave for first

legal marriage per employment.

3). Compassionate Leave

Every employee is entitled for 3 consecutive working

days on the death of their immediate family member.

4). Bonus

The bonus will be granted to employees at a rate of 30 %

of the monthly salaries depends on the company’s
performance.

5). The Annual Increment

Employees will be paid with an annual increment based

on the individual performance at a rate of 5% to 30% per
annum. Those who fail to achieve the performance
standard will not be granted with an annual increment.

 Social Security Organization (SOCSO)

The main function of SOCSO is to provide social security
protection to employees and their dependants through the
Employment Injury Scheme and the Invalidity Scheme. The
Employment Injury Scheme provides protection to employees
against occupational injuries including occupational diseases

74 | P a g e
and commuting accidents. The Invalidity Scheme provides 24-
hour protection to employees against invalidity or death due to
any cause outside working hours and not related to
employment. Both schemes provide cash benefits to employees
and their dependants in the event of unforeseen incidents, in
addition to providing medical treatment, physical

75 | P a g e
 rehabilitation or vocational training. SOCSO also conducts
implements accident prevention activities through occupational
safety and health awareness programmes among employees
and employers. The rate of contribution is 1.25% per month
from the insured salary option. Monthly contribution is subject to
the ceiling of the insured wage of RM4,000.00 per month.

 Employer Provident Fund (EPF)

As an employer, the responsibilities include paying EPF
contributions in respect of any person engaged to work under a
Contract of Service or Apprenticeship. Subject to the provisions
of section 52, every employee and every employer of a person
who is an employee within the meaning of this Act shall be
liable to pay monthly contributions on the amount of wages at
the rate respectively set out in the Third Schedule (Section
43(1), EPF Act 1991).

76 | P a g e
b) Market Analysis/Statistical Data

Source :
Jabatan Perangkaan Malaysia (2020). Poket Stats Negeri Kelantan ST1 2020. file:///C:/Users/L
%20E%20N%20O%20V%20O/Downloads/Poket_Stats_Kelantan_ST1_ 2020.pdf

77 | P a g e
 c) Newspaper Cuttings

Physical care is important and It shown that nowadays, physical

people start to acknowledge it. care is well-known in Malaysia.

Physiotherapy is one of
profession that is vital and act as
front liners.

78 | P a g e
 d) Financial Report (Graph)

e) Excel link
https://drive.google.com/file/d/1pyXB4IsKhcCZ6lmhXrAwv5rgRiQdYzB8/view?usp=dri
vesdk

f) BMC Pitching Link

https://drive.google.com/file/d/12Gy0XSEnkBSKioh6VPwlf4WFpfHjN4yw/view?usp=dri
vesdk

79 | P a g e
References

 Larry J. Nosse & Deborah G. Friberg (2021). Management and Supervisory

Principles for Physical Therapists Third Edition. Wolters Kluwer. London. 226-311pp.
 Academia (2014).ENT300 - Business Plan Report : Platanos Enterprise. Retrieved
July 2, 2021 from
https://www.academia.edu/11314839/ENT300_Business_Plan_Report_Platanos_Ent
erprise_2014_
 Azcentral (n.d.).Operational objectives for a business. Retrieved July 3, 2021 from
 https://yourbusiness.azcentral.com/operational-objectives-business-11658.html
 BBC. (2021). Business Aims and Objectives. Retrieved July 2, 2021 from
https://www.bbc.co.uk/bitesize/guides/zkhby9q/revision/2
 David Ingram. (2019). Financial Business Objectives. Retrieved July 2, 2021 from
https://smallbusiness.chron.com/financial-business-objectives-4072.html
 Socso (2021). Rate of Contribution. Retrieved June 30, 2021 from
https://www.perkeso.gov.my/en/rate-of-contribution.html
 Tutor2U. (n.d.) Financial Objectives. Retrieved July 2, 2021 from
https://www.tutor2u.net/business/reference/financial-objectives

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