BUSINESS REPORT, SELF-REFLECTION AND EVALUATION, EMAIL COMMUNICATION
Executive Summary
Women of Power is a physical and health fitness club dedicated to creating a personalized environment to enable women realize their health fitness goals. The company’s business model will be based on offering premium fitness and health services to urban professional women, female college students and young mothers. It operates under the sole proprietorship but might change its ownership to partnership. The company will hire certified professional trainers who will be responsible for designing and implementing customized training programs. The company has invested in sophisticated training equipment, and it is committed to tailoring its services to suit the needs of active women. The business location is strategically located in modern shopping malls frequented by business women. Other than physical fitness and health training, the company plans to offer additional services such as health consultancy and beauty therapy services. To minimize on advertising costs, the company intends to use the word of mouth and referrals to promote the business. Referrals will attract discounts on subscriptions to existing members. The business will print brochures to be circulated in beauty salons, fast-food restaurants, and boutiques and other places frequented by women. The company aims to expand to other metropolitan regions within the coming years.
Business Profile
Women of Power is a physical and health fitness club dedicated to creating a personalized environment to enable women realize their health fitness goals. Women of Power has invested in the latest certified training equipment. This investment in equipment is supported by hiring professional trainers with experience in health and physical fitness. Other than the premium equipment and trainers, Women of Power has developed a number of weight management programs tailored to suit the different health needs of our clients. These weight management programs have been tried, tested, and proven to work with different women. We can comfortably and confidently say that our physical and health fitness products will be unbeatable in the market (S, 2009). The high-quality premium services and supportive training staff is sure to attract new customers through referrals.
The Women of Power health and physical fitness club is motivated by the health desires of urban professional women who are deeply engrossed in their professional responsibilities. Most of these women have an active life and find little or no time to dedicate to their fitness (No-frills fitness' 2009). However, most of these women are conscious about their body figures and fitness situation because it is directly related to their health needs. Other than professional career women, Women of Power also targets young mothers and college students who are in need of a physical fitness club that cares for their needs.
The Women of Power aims to open its first branch at upscale shopping malls that are characteristic with high traffic of women. While several health and fitness clubs exist in such locations, none of these health and fitness clubs has dedicated and tailored its services to suit the health and physical needs of the urban woman. Equally, the presence of other businesses that attract women coupled with ample parking amenities will certainly act as an incentive for most women.
Women of Power aims to:
- Develop a training environment that brings out the best out of our clients
- Invest in programs aimed at enabling clients to attain their health and fitness goals through workable standards
- Motivate clients to remain committed to their health and fitness goals
Objectives
Women of Power is committed to realizing the following objectives:
- Attain over 200 members by the end of the first year in operation
- Continuously maintain over 50% capacity in all its training programs
- Increase membership by 25 % every year
- Open at least one new branch every year
Business Structure
Women of Power operates a business model that caters for the health and physical fitness needs of its clients. It offers exercise equipment, fitness classes, weight reduction programs, and healthy eating business model. The business will operate as a sole proprietorship during its first year of operations, but shares can be sold to any willing partner once the business picks up. The company will be located at Prestige Shopping Mall, and it use rent 4 practice rooms at $400 pm each. Once of these rooms will be converted into an office. All training rooms will be fitted with bathroom facilities and relaxation services such as Spa and Beauty.
Startup expenses
Exercise surfaces, rent, and training equipment forms the primary source of costs for the company. These start-up expenses will cost $100,000. I intend to use my savings of $20,000 and apply for a long-term loan of $80,000.
Start-Up Requirements
Products and Services
As earlier mentioned, the company will offer premium membership services tailored to meet the different health needs of its clients;
- Women of Power will offer customized training to our clients. The training will be facilitated by the company’s professional trainers who are equipped with expertise and knowledge in developing and implementing individualized training programs. Only certified trainers with qualifications in CPR and First Aid will be hired. Each client is guaranteed individually designed fitness programs (Haddad, Yi, Steven, Celler, & Hung, 2014.)
- The company will invest in sophisticated training equipment that were specially designed for a woman’s body. These equipment include steppers, treadmills, cross trainers, stair masters, step mills, gravitrons, and elliptical trainers among others (Melville, 2005).
- The fitness club will also be equipped with a health shop and a beauty therapy shop
- Membership will cost $125 per month, and each personal trainer will charge $10 per hour
Marketing Analysis
Target Market
Urban professional women have increased significantly over the last few decades. Increased employment opportunities in the city center has attracted a pool of professional women that are conscious of their body and looks. The desire among many women to have perfect body forms the target market for Women of Power. College students and young mothers also aspire to maintain the perfect body look, and Women of Power aims to help them realize their dreams.
Marketing Strategies
Deliver brochures to beauty salons, fast food restaurants, and women boutiques located across the town. Urban professional women frequent these places and targeting them would be easier. Women of Power also intends to offer free one-month membership as a discount to clients who pay for four month's subscription and two months free subscription for those pay for annual membership.
Marketing Objectives
Women of Power aims to capitalize on the premium quality of services it has to offer to the market while at the same time building an avenue to generate other revenues-both in and out of the physical fitness center. The current market objectives are tied with future expansion plans by the company.
- The company will begin with one branch and hopefully, expand the brand by opening up another branch at popular shopping malls within the city.
- Sales of the start-up store will be expanded by increasing awareness in places frequented by women. 10% discounts on a monthly subscription will also be offered to members who bring in a new member to the fitness center
- Health products and consultation services. Every exercise center will feature and health center where members would be advised on foods to eat and their corresponding dietary compositions. These services will be offered at a small fee.
- Women love beauty and spa treatment. A spa treatment and beauty salon will be opened by the second year, and each subsequent branch will feature a beauty salon and spa treatment center
Competitive Landscape
The competitive edge of Women of Power relies on the operating environment. A personalized, comfortable, and convenient, personalized program tailored for unique health and fitness needs of clients offers a unique selling proposition to the company. A combination of health, beauty, and fitness is inimitable and one of a kind.
Sales Forecast
The company expects slowed sales during the three-months. This can be attributed to low subscription and minimal awareness. However, sales are expected to increase in the coming months as business picks up.
Financial Plan
The following is a brief summary of Women for Power financial plan:
Management Plan
Kay Richards will be in charge of operations in an administrative capacity coupling up to be the lead trainer for Women of Power. Kay has worked in different fitness communities before and has gained tremendous success. For the past 15 years, she has been the lead trainer for the national women’s soccer team. Additionally, she has been involved in various community-based fitness centers in a managerial level as well as actual training for ladies. Being a professional fitness coach, she has gained a lot of experience in running gymnasiums. She has an excellent reputation as an efficient employee supervisor. During her tenure as the national women’s soccer team lead trainer, she attained a 100% gym attendance for the soccer players in a time when attendance was not mandatory. In her various roles in community fitness institutions, Kay Isaacs showed efficiency in leadership and capacity to manage resources especially the human resource.
Jolene Pen is a certified public accountant and will join the management team as the chief finance officer. Currently, she works with Estonia and Jobs consultancy firm that specializes in private firms and in solving daily issues. Her responsibility at Women of Power will be oversight of the operational costs and accounts receivables. Her reputation precedes her in matters relating to financial management.
The following will be the personnel plan for Women of Power:
· Operations manager will also be the lead trainer
· Financial officer
· Ten additional personal trainers
· Two health care specialists
· Clerk/receptionist
After operations for a year, the business will expand to add two more personal trainers to the staff.
Conclusion
Women of Power has a strong business model, and its unique proposition is certain to help the company deliver a substantial competitive advantage. Women of Power is a physical and health fitness club dedicated to creating a personalized environment to enable women realize their health fitness goals. Strategic location, personalized services, premium equipment, and unique selling propositions are certain propel the company to new heights. Other than physical fitness and health training, the company plans to offer additional services such as health consultancy and beauty therapy services. To minimize on advertising costs, the company intends to use the word of mouth and referrals to promote the business. Referrals will attract discounts on subscriptions to existing members.
The management aims to implement all plans described in this business report. While most statistics described in this report are estimates obtained from market research, the management believes that it reflects the actual picture of the market environment. Once the sources of financing the business are confirmed, the company will roll out its operations. Implementation and control of the business will depend on monthly evaluations. Strategies that do not work will be dropped while new strategies will be adopted to enable the business to realize its goals and objectives.
References
Haddad, A, Yi, Z, Steven, S, Celler, B, & Hung, N 2014, 'Modelling and regulating of cardio-respiratory response for the enhancement of interval training', Biomedical Engineering Online, 13, 1, pp. 1-25
Melville, G 2005, 'Gym Dandy', Money, 34, 2, pp. 128-132,
No-frills fitness' 2009, Business Franchise, 184, p. 48, Business Source Premier, EBSCOhost, viewed 7 October 2014.
S., BB 2009, 'Sports Nutrition Often a Missed Revenue Opportunity', Club Industry, 25, 12, p. 10
