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Juicegym, spelt J\_/ICEGYM the "U" is meant to represent a cup, as it is associated with juice, it is a partnership business owned by my partner Tania and I, it will be located at 134 William street Granville, this location was chosen as it is near Granville tafe, allowing students to use our facilities as it is students that are most concerned about body image and loosing weight. Juicegym provides a wide range of services including the regular use of equipment, weightloss programs, Body building exercises, use of personal trainers, zumba classes, yoga, aerobics and swimming lessons. Our main function is to motivate and inspire the community to become fit and loose weight. The main purpose of a business plan is to develop, analyse and refine ideas, if you fail to plan, you plan to fail, this means thinking and planning your business will minimise any business failures or regrets in the future, this allows your business to survive in the long run. A business plan determines how well goals have been met and keeps track on whether a business is going over its original budget, analysing a business' strengths, weaknesses, opportunities and threats leaves you a step ahead, just incase of any mishaps along the way, knowing these four things allow you to attempt to minimise weaknesses and threats , as your business becomes more popular and expands along its long-term survival allows the list of strengths and opportunites to lengthen. Setting goals for a business is important as its allows the business to reach for its prime aim, once social and environmental goals are reached business reputation will improve and clients will be motivated to somehow participate with Juicegym's services.
Business description and ownership.
My partner Tania and I have decided to invest in our own gym, we have named it Juicegym, reason being Juice is dominately a healthy substance, and the gym is where individuals come to tone up, loose weight and become fit. My gym is spelt J\_/ICEGYM the "U" is meant to represent a cup, this is associated with juice.
My business is run by me and my partner Tania as partnership was the chosen legal structure, this is because me and my partner have just finished university and have a insufficient capital to individually start up our own business we also both have a great amount of knowledge and have always had an interest in sport, health and fitness me and my partner have equally agreed on:
- The name of our Business.
- Percentage of business ownership.
- Profits will be distributed equally.
- Conflict resolution procedures.
We have also sat and analysed all the positives and negatives in starting a small parnership business.
- Team work to achieve goals of the business
- Gives me and my partner an opportunity to access the specialist skills.
- Mix of knowledge and skills
- Allows additional funds into the business, which could be used to fund business growth and expansion.
- Unlimited liabilty, meaning if financial obligations are not met, each partner will have to contribute from their own money to pay of business expenses.
- Shared profit.
- More disputes.
Me and my partner have decided to locate our gym at 134 William street Granville, we have chosen this position because it is near Granville tafe, this allows all students on campus studying personal training and all regular students to use our facilities, as it is young people that are most self concious about their wieght. We conducted a survey and asked the students what they thought of the idea and majority were very pleased with the concept.
This is the first time me and my partner have opened up a business and the first time that Juice gym facilities are accessible for the whole population.
Our prime focus is the well-being of others this includes
- Weight loss programs, Assist you to overcome your weightloss struggles.
- Body Building exercises, increasing you strength, and improve bone strength.
- Fitness/endurance improve cardiovascular fitness, lower cholesterol levels and decrease blood pressure.
Our equipment will consist of the latest technologically advanced products, which come with a wider range of exercise techniques, we have researched and found that over the years clients are getting bored of using old regular gym equipment, so we've decided to make a change and add the latest gym equipment which include:
Cardio equipment including:
Personal training and stretching space:
Child minding, our qualified child-carers will do all the hard work by supervising your children, this allows parents to enjoy our facilities.
Objectives and strategies.
Juice gym aims to benefit the community by helping improve fitness, lose weight and relieve stress, this impacts greatly on the lives of the communitys as keeping yourself healthy leads to a strong heart, our main focus to make our clients feel good about themselves, by motivating them to keep exercising and eat healthy.
Financial goals- External and Internal Stake holders impact greatly on our financial goals examples of external stakeholders include: Customers/clients, Government, society, suppliers of stock, competitors and physical environment. Satisfying these external stakeholders by fair membership prices and supportive staff alows more finance to enter the gym which is used to expand and introduce more ideas into the gym also contribute in paying the internal stakeholders such as Employees and managers.
Emplyment relation goals- Juice gym want nothing but the best staff for its facilities employees must put customers first, staff must be friendly and caring towards customers, customers are our gym's prime function without the clients business will not survive, if employees mistreat clients the must change otherwise consequences like leaving the gym will not hesitate to occur. While going through the human resource cycle to find the most suitable employees for juice gym, me and my partner will be looking for employees that are genuinly friendly and attract clients also they must have a degree in physical fitness and know what equipment should be used for the different equipment.
Social goals- Juicegym influences the community with the help of our personal trainers as they motivate and inspire the community to become fit and healthy, they also introduce healthy food options, and this may give members in the community a longer life.
Environmental goals- Juicegym Airconditioning and heaters are run by solarpower, the taps in the toilet have sensors, they only turn on when hands are actually placed underneath them, helping to save water.
PURPOSE OF THE PLAN AND SITUATION ANALYSIS.
A business plan is a necessity for any business. The purpose of a plan is to develop, analyse and refine the ideas of the business, so that if any errors are made they will be on paper rathar than when the actual final business opens and regrets occur, by examining the business from all aspects. A plan also allows owners and investers to manage their time effectively and examine a business' actual performance overtime, this could mean identifying a business' oportunities for future expansion. A business plan determines how well goals have been met and keeps track on whether a business is going over its original budget. Another important purpose for the plan is that investors will not put money into a business without a busines plan, as the plan shows them that you are capable and responsible of owning your own business and are organised along the way.
After a period of time of business ownership a business plan can be a tool that notifys the owner on whether what was stated on the paper is going according to plan, if not the business plan can be refered back to, this can lead the business back on track, and correct any errors made.
Strengths- Good Location, around local shops and area of continuous activity.
- Latest equipment.
- Good name.
- Good start-up capital.
- Good reputation.
- Professional, friendly staff.
Weakness- Not enough skills.
- Inability to keep up with consumer demands.
- unsuccessful retail sales.
- Young staff, not much experience
Opportunites- Sale on membership prices.
- Expansion of business over time
Threats- Increasing membership sales.
Competitor analysis- William street is a area of constant action, there is a gym a few blocks from Juicegym located in Florie street this gym has been accessible for 5 years and is very familiar throughout the area, it is one of our main competitors, however Juicegym has its many advantages that can overrule the competitor such as:
- Advanced Equipment
- Near Tafe
- A street of continuous activity
- Reasonable membership prices
- Good image.
DESCRIPTION OF THE PRODUCT/SERVICE.
Juicegym will provide a wide range of services including, regular use of equipment, personal training, yoga, aerobics, zumba and weight loss classes. Every Tuesdays and Thursdays at 12am a bus will arrive infront of the gym to take those that are interested to homebush pools, to participate in pool exercises such as fitness cardio and weighloss exercises, before swimming lessons and techniques on pool safety, this program is known by clients as "swim2win."
With membership comes specific sales for example, if client chooses the 1 month membership, they recieve one week free, however if 3 month membership is chosen, they are advanteged with 2 weeks free, 6 months means 3 weeks free, and a year membership gives a client 4 weeks for free.
MARKET ANALYSIS AND STRATEGIES.
Product -My partner and I have invested in a rather large gym, its physical qualities include gym quipment of the latest designs, the main feature wall of the gym is Red with an athlete running painted on it, and the rest just plain red it is very attractive as intangible qualitites such as image matter, as it gives the gym a good reputation, and old worn out gym wont get very far, people are looking to get there money's worth that is why image is my partner and I's main focus.
Juicegym supplies protein bars and shakes that cannot be found in your local supermarket and have a reasonably high price, the bars and shakes come in a eyecatching package which attracts clients.
Price - Juicegym really appreciate customers and set reasonable membership prices, along with memberhip prices comes locker rent payment, shakes and bars prices and beverages.
Membership prices vary depending on the time period they go for:
1 Month- $60
3 Month- $130
6 month- $320
1 Year- $550
Bars and shakes- $3
Locker rent- $1
Beverages- From $2.50
Promotion- This is very important as it raises awarness, and influences clients to join the gym. Juicegym will be advertised throughout the media in the newspaper, billboards and radio.
Place- 134 william street granville, near granville tafe.
The target market are potential customers, they are individuals that intend on using our gym facilities, after continuous research me and my partner have found that our gym services are accesible for everyone that has a interest in weight loss, fitness, massage and martial arts, however young people are one of our main focus's as they are at a stage in their life where media is a major influences, young people want to look like the models in magazines or celebreties on t.v, adults are also potential customers as many of them suffer from stress and extreme workload so our proffesional physiotherapists are availabe from 12pm-5pm for massages, however appointment is required. Mothers are also part of our target market as Zumba classes are available from 1pm-1.45pm tuesdays and thursdays, while our trained employees occupy their children with mini games.
Juice gym will have a total of 12 gym qualified employees, including a front desk recepcionist, cleaner, personal trainers that have qualifications for many different exercises and stretches, also for those that are interested in yoga or aerobics, specialized trainers have been hired to lead those classes. Before employees begin they must learn how to use the equipment and must not fiddle with equipment if they are not qualified.
Employees are expected to work together, be friendly and patient so that they are able motivate and inspire clients, these qualifications are looked for throughout the selection process.
Employees must show responsibility to recieve constant credit on how they are performing, the employees that perform well may use the equipment for free after workhours and possible pay bonus.
Along with client safety employment safety is also a must, juicegym makes an agreement with the employees stating that their safety is within the gyms hands, if employees ever injure themselve or risk their safety, all hospital and docter fees will be payed from the gym.
Juicegym will be open everyday from 9am-6.30pm every gym employee will have 4-5 hour shifts depending on wether the gym is busy or not, because shifts are short no breaks will be required.
CRITICALLY REVIEW THE PLAN.
My Business plan talks about my business description and ownership, purpose of the plan and situation analysis, objectives and strategies, description of product and service, staffing requirements, market analysis and strategies and Financial forcasts, these were all mentioned in my timeline to be completed before the final due date, and i have done so, However there have been many things that i like and dislike within the plan, i like where i have chosen my location to be, i also like that i have designed my gym to look modern and have the latest gym equipment, i also like the fact that i put alot of though in choosing my staff as without the good staff, Juicegym will loose clients, On the other hand i dislike that i have a popular gym a few blocks away from juicegym, in which is pretty popular, i also dont like being a partnership because there was alot of arguments and disputes in the process of juicegym.