Business Plan And Executive Summary For A Gym Business Essay

Business Plan And Executive Summary For A Gym Business Essay Executive Summary The location of the gym will be on a main road with good parking facilities. This will help the gym grow with members as it attracts people because of the location and give people advantages to join the gym with ample parking. There isn’t much history about the gym because it is a band new business but the idea came to me about 5 months ago when i wasn’t satisfied with what other gyms offered to customers. The business is situated in the retail sector because it provides gym equipment to people who don’t have room at their houses or they cannot afford all the equipment themselves. The Prime function of the business is to provide gym equipment to people as well as help them achieve their fitness goals. The gym offers a wide range of products and equipment starting from bags, drinks and clothing to dumbells, treadmills and benches. (Cambridge Preliminary Business Studies – page 269) Purpose of the Plan There can be many purposes for a busi ness plan. The plan should provide a firm with a clear direction for the future and identifies the main goals of the business. / The goals of the gym would be social, financial and environmental goals. The social goals that the gym would like to achieve would be good service to patrons that use the facilities, helping the community through sponsorships of local sporting clubs and helping out schools through conducting sport lessons in the gym. Financial goals that the gym would like achieve would be to increase the owner’s wealth through increased market share, increased level of cash flow and increased level of liquidity. But increasing wealth is one of the objectives. The other financial objective would be to minimise the wastage of money on items or products that will not help the gym grow and not falling into heavy debt. Environmental goals that the gym would like to achieve would be to use electricity efficiently, install energy efficient appliances, minimise waste and d isposing of the waste properly. (Cambridge Preliminary Business Studies – page 269) v Situational Analysis Internal External ac4 Strengths (lob ortunities †¢ †¢ †¢ †¢ Good assistance provided by employees Great membership deals Cheap prices Good location r †¢ †¢ †¢ †¢ Weaknesses Threats †¢ †¢ †¢ †¢ Not enough employees when business is busy Toilet facilities too small Security Poor Receptionist †¢ †¢ †¢ †¢ †¢ (Cambridge Preliminary Business Studies – page 248) Business Objectives and Strategies The business objectives and strategies section of the business plan outlines what the business aims to achieve, including overall strategic goals. These goals will be based on research from the situational analysis. The Objectives of the Gym are to try and eliminate the weaknesses in the business and make them one of the strengths by working on them with one another and also to improve on streng ths and try to make them stronger. Another Objective would be to take every opportunity possible to help the business grow and try to work around keeping threats away from the business. The final Objective would be to improve financial wealth for the owner and to build a good reputation within the community so people feel invited and welcomed when they visit the gym.