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management and financing activities 5.Lack of parking spaces in complex for a substantially large number of clients to train at the same time e.g. 25 clients at any time is maximum capacity Opportunities Threats 1. Social media and online advertising through a more friendly, client driven approach 2. Operates in an affluent suburb where many people can potentially afford the gym membership 1.Noise complaints from local businesses 2.Development of complex, forced to relocate 3.Reputable fitness employees leaving, leaving very basic employees in their place
BUS12 BusinessAssignment v2.2 (2019/03/18) 25 3. Merge with a reputable fitness business to rapidly expand clientele and reputation 4.Engage and seek for fitness industry sponsors to subsidize and sponsor gym 5.Market the business through ‘open days’ or ‘bring a friend’ day and organize public such as in-house weightlifting competitions to engage in the community and raise awareness of the gym 4.Lack of clientele to generate the revenue and to operate the business . 5.Failure of business due to unforeseen circumstances, 33% of all businesses fail within the first year Your competitors We as a gym recognize our competitors as a necessary means to improve our customer service, for our value of money & location, we are not as strong as our competitors however we aim to better them in the areas of customer service and quality. Through comparing our customer service & quality with other local competitors, we can improve through the implementation of benchmarking our services & see what we can improve on. In our area, there are several nearby but not particularly close CrossFit gyms that are like us, however they lack do not have a centralized location in an industrial area like we do. Although we lack industry experience in comparison to some of our competitors, we seek to adopt the CrossFit affiliated franchise to guarantee the flow of clients in and out of our gym, also aiming to seek particularly serious and motivated clients who are already experienced in fitness rather than newcomers with limited fitness experience. We also seek to identify many weaknesses of local gyms and exploit those with our gyms without the need to increase too much costs e.g. no lock-in contracts, no sign up or cancellation fee, 24/7 access, better customer service etc
BUS12 BusinessAssignment v2.2 (2019/03/18) 26 Competitor details [List at least 2 competitors in the table below. Complete the table in its entirety] Competitor Est. date Size Value to customers Strengths Weaknesses [fitness club [2012 [4 staff very cheap service, $14/week Very flexible service, no lock- in contracts, no start-up fee, franchise based means one membership can access any Plus-Fitness gym Personal trainers generally lack experience in industry, hence give out poor programs, dietary advice and exercise techniques Fitty one 2015 3 staff cheap service $25/week, average quality, high level programming and coaching Offers similar services (besides pool) at a substantially lower cost, 24/7 access to gym, APF & IPF sanctioned and