Business plan for a fitness centre Fitness One Coursework

Business plan for a fitness centre Fitness One - Coursework Example The business will be financed with ? 100,000 by a sole proprietor and ? 200,000 through a business loan from a bank. Sales are estimated to reach about ? 52,000 average for the first and second year. A positive cash flow is projected at the end of the first year. 2. Range Of Products To Be Offered Fitness One shall offer club membership for access to various fitness and health programs, to include: a. Swimming b. Tennis c. Fitness Center with cardio vascular and weight training equipment d. Court Sports e. Massage f. Physical therapy 3. Geographical Location I have chosen the Covent Garden area due to its proximity to my hometown in Canterbury. London would be my home base as this offers better market reach. Covent Garden in London is popular for its shops, street performers, bars, restaurants, theatres and the Royal Opera House. It is an Italian style piazza holding restaurants, bars and fashionable boutiques and is known for being the capital’s premier entertainment and leis ure destination. (Covent Garden Life.Com. 2007). Marlowe Arcade in Canterbury and Westgate Shopping Centre at Oxford are both popular destinations for both local residents and tourists. They are also the best places to put up Fitness One branches as they are situated along busy districts where the hustle and bustle happens. 4. Anticipated Customers, Target Market and their Distribution Fitness One will focus on  the young urban professionals as its primary customer base. The programs will be designed to address the health and fitness needs of this target market. 5. Statement Of Viability/ Keys to Success Fitness One shall rely on the following Internal and External Factors as its Keys to Success: a. Market Knowledge – b. Service Quality - c. Targeted Marketing Campaigns – Fitness One will prepare and implement promotional campaigns that will create noise in the market. It will utilize its Internet Marketing Channel to ensure that it would be positioned in the right m arket. d. Right Marketing Mix – Fitness One’s aims to penetrate the target market via Internet Marketing. Its primary location in London assures the company of a solid footing, as this placed is recognized to be Europe’s Best City for Business by the European Cities Monitor 2004. (Visit London. 2007) e. A systematic cash flow – Membership costs shall be determined basing on the services offered and the target number of members per month. 6. Staff & Skills Requirements In Early Stages (If Needed) The minimum required skills and experience for the start up crew are as follows: Staff Assistant – At least two years experience doing administrative job. Must be skilled in basic accounting and bookkeeping. She is responsible in consolidating information and sales reports from the store and shall provide administrative support as well. Purchasing Staff – At least three years doing purchasing work for a retail company. Must be knowledgably in the pro cesses in purchasing and as experience in supplier handling and relations. Store Supervisor – At least five years experience in store operations, two years as supervisor, with experience in Marketing and a graduate of any Business course Sales Staff – At least six months experience in sales in any kind of store industry Cashier – At least one year experience in store cashiering Inventory Staff – At least one year experience in Inventory Management 7. Explanation Of Basis For Planned