Acknowledgement
I would like to express my whole hearted thanks to Almighty Allah by whose grace & blessings we have the knowledge, insight and opportunity to complete this report.
We are grateful to our teacher Mr. Muhammad Iqbal for teaching me the curriculum of entrepreneurship and giving me versatile knowledge in this field and unique teaching style has developed our knowledge and cleared many concepts. I would also like to thank all the people who helped me and provided me with relevant information regarding facts and figures without which we would unable to complete this report. Thank you.
Transmittal
I am writing this report due to the requirement of this course and for learning purposes. There is a lot of learning opportunity in this report. Al lot of hard work was done to make this report, continuous effort and time was taken to formally document the report. Although there is room for improvement. This report entails value added information and can be useful for an entrepreneur.
Executive summary
The club i am opening (fitness 34/7) is for a niche market, there will be 2 gyms in the club each will cater different customers. This club will be opened in near golf club. Innovative marketing strategies will be used and for both gyms. The club will be equipped with features that no other club is offering. Special considerations have been taken to carefully design the club and high premium is being charged from customers. High returns are expected from this project
Fitness 24/7
“We guide, you do the rest”
Vision
“To achieve the highest awareness for our brand in the gym industry and to set a new bench mark in satisfying customers”
Business and Industry profile
Stage of growth is startup..
Industry Analysis Industry background and over view
The gym industry in Pakistan is still in its infant stages although there is potential and the current trends show that there is interest and passion among the Pakistani people for fitness. I am opening a gym in Karachi, so I will discuss the factors/trends and traits in the gym industry for Karachi only. There are only 3 direct competitors:
Life style Shapes Oxygen spa and gym
The gym I’m opening is specifically for a niche market .Currently there is no high price segment, my gym will fall into the high price segment which will develop an overall new level of competition.
There are estimated 10000 customers that can be catered in this industry as a whole.
Figure 1
Growth rate in the high price segment is high; a return of 25%-30% can be expected due to some factors which are illustrated in figure 1.1
Figure 2
There is a high dependency on personal training and customers are result orientated, the more end results we produce (achievement of goals) the customers we get. There are no regulatory authorities who can judge the standards or relevancy of a training or diet program. This goes in favor of the industry as we can create our own standards without any compliance.
The main objective is to make sure that all the measures are to be taken to ensure that the goals of the customers are attained. A system will be implemented to make sure that the goals are observable and individual customer logs will be maintained will be accessible to the customer
Business Strategy
The gym is positioned as a quality service provider which believes in total customer satisfaction through effective attainment of customer goals. The desired image is of “lifestyle and fitness”
S.w.o.t analysis
Competitive Strategy
The competitive strategy is based on focus groups.
Fitness 24/7 offers:
• • • • • • • • • • • • • • • Cardio Equipment Group Exercise Rooms Women's Only Area Pool Tanning Rooms Spa Cardio Cinema Personal Training Group Training Rock Climbing Walls Pressure showers Health food court Cardio Equipment Group Exercise Rooms Video games • • • • •
•
Senior Fitness Classes Strength Training Locker Rooms Juice Bar Yoga Chiropractic, Rehab and Massage Centers Sauna, Steam room
•
Description of equipment required
• Tread mills
• • • • • • • • • • • • • • • • • • • • • • • •
•
• • • • • • • • •
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Rock climbers Rock climbing wall Cycles Moon walkers Dumbells Free weights Hammer strength machines Benches Squat racks Power Racks Bars Peck Deck Cables Chin up bar Preacher bench Curl machines Extension machines Buso balls Medicine balls Jump ropes Fractional plates Chalk Pull down machine Seated row machines Dumbbell rack Hack squats Leg presses Grippers Chains Bands Boards Gloves Belts Punching bags Mats
All equipment will be imported from china and Usa.
There will be two gyms within the facility. 1. Fitness 24/7 2. Fitness 24/7 premium Both gyms target different segments.
Fitness 24/7 features
Cardio Personal training
Strength Training
All other types of training
Juice bar Locker Rooms
Locker rooms
Sauna/ste am
Fitness 24/7 Premium
Cardio
Group exercise rooms
Woman’s only area Pool
Tanning Rooms Spa
Cardio Cinema
Personal training
Group training
Rock Climbing
Pressure showers
Senior Fitness classes
Locker Rooms Juice bar Yoga
Video games for kids
Rehab/ massage Sauna/ steam
Member ship cards
Fitness 24/7 Aziz ur rehman 5424 52541 55254 Fitness 24/7 premium Saad Ahmed 2021 54541 00007
Marketing strategy
Demographics for Fitness 24/7
Customers motivation to buy: To be different, to feel young, to belong to a elite society.
Demographics for 24/7 Premium
Advertising and Promotion
• • • • Brochures Personal selling for B2B, institutions Segments in tv shows News Paper
Pricing Pricing:
structure for Fitness 24/7
Pricing structure for Fitness 24/7 Premium
Location: Near Country Club Layout: Size: 4000 square yards Levels: Ground plus 4
Elevat
Schematic of Ground Floor
Sitting Rea
Sitting area
Reception lif t
First Floor
df
Cardio
Weight Room
Spa
Locker Room and shower
Juice bar
Rock Climbing
Video Games
Second floor
Schematic for 2nd floor premium
TAnnin
Cardio Cinema
Sauna/ Massage
Women’s only
Third Floor Yoga
3rd Floor Pool
Tanning Rooms
Fourth floor
Financial forcasting Premium section holds a combined capacity of500 per day Normal section also holds a capacity of 500 We expect A high return of 25% per year