Value to customerI will like clients to perceive my services provided by my business as the most comfortable, understanding, trustworthy and reliable source of personal training. I want to be friendly and make it like we are family and helping change their life is #1 to myself. Value for money and very competitive prices. Personal training is a luxury, but I’ll make it seem it’s a necessity and leave the clients wanting more.Growth potentialThe anticipated growth of business in the next 12 months and into the future is approximately 25% more clients per annum. I want clients to stay and keep needing my professional input. My exemplary customer service skills will ensure clientele increases constantly.11BUS12 BusinessAssignment v2.2 (2019/03/18)
12BUS12 BusinessAssignment v2.2 (2019/03/18)
Innovation Research & development (R&D)/innovation activitiesThe R&D activities improves to encourage innovation in business includes; •Surveys (open-ended and close-ended questions)•Interviews•Existing data•Council websites•Industry consultations•Google•Mystery calls to competitors Intellectual property strategy (optional) I plan to protect any innovations under the provisions of the Privacy Act, Competition and Consumer Act 2010 and the Copyright Act 1968. I will trademark my business name.InsuranceWorker’s compensation I won’t need workers compensation as I am a sole trader.Public liability insurance I’ll have public liability insurance which covers third party injury or death. It was sourced through registration with Fitness Australia.Professional indemnity I’ll have professional indemnity which covers any legal action occurring as a result of my professional advice or services. It is sourced through registration with Fitness Australia. Business assetsI’ll have my business assets insured by Fitness Australia under their business losses cover in the event of a fire, theft or general damage. This includes gym equipment, company cars, technology equipment etc. Business revenue Business revenue will also be insured under Fitness Australia though their Business Continuity Cover which covers for loss of income and/or rent if your business is interrupted or interfered with as a result of damage, interruption of utilities and access prevention13BUS12 BusinessAssignment v2.2 (2019/03/18)
Risk management [List the potential risks (in order of likelihood) that could impact your business.]Describe the RiskRate theLikelihoodImpactStrategyClients being absent from sessions with no noticeLikelyMediumMessage them before the session to double check they are still available and know what time andlocation etc.Faulty/old electrical cable. Death due to electrocutionHighly UnlikelyHighEnsure equipment is electrically safety tested, and cords are checked in weekly equipment checks.