Paper Example on Fitness Business and Issues

Introduction

My interest in fitness and willingness to embrace a fitness lifestyle is a driving motivation for me to start up a fitness business. The fitness industry is broad but my desire is to establish a workout gym. Although am not a fitness expert I believe that my interest in this area is critical in ensuring my success in the industry. Other than generating income a fitness business will help me stay committed to regular physical activities as well as helping others to stay in shape. Nowadays many people embrace a sedentary lifestyle which hinders them from adhering to regular physical exercise routines. To change this emerging trend I seek to establish a weight loss club within my business.

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The Strength of the Business Idea

The business idea has a high potential for solving the problem of irregular routine workout for those seeking to lose weight due to motivation by club members. It moderately addresses the unfilled gap between unity and motivation in the fitness marketplace. My decision to enter the fitness market is moderately timely because some investors are already exploring the option. In terms of value, the idea has a high positive impact on the potential clients. I believe that my clients will be very satisfied with my offers compared to what is already out there in the market. For better results, my customers will have to make substantial changes because weight loss requires a lot of commitment.

Industry Related Issues

There are many competitors in the fitness industry. The industry is at an emerging phase currently with a very strong growth rate. The services offered by the industry is a "must have" for all consumers to ensure healthy living. However, the industry's operating margins are still low.

Target Market and Customer-Related Issues

Identification of the target market for my new venture can be easily identified. Given that it is an open market I may not be able to create barriers to entry by other potential competitors. Depending on the location of my business the purchasing power of customers to my services may be moderate or high. Through technology the ease of making customers aware of my services is high. The growth potential of the target market is also high.

Founder- (or Founders-) Related Issues

As the founder of this new venture, I have moderate experience and skills with regards to my proposed venture. However, I have extensive social networks in the fitness industry. My fitness business idea strongly meets my personal goals and aspirations as a person who seeks to embrace healthy living. Being that it is a new startup it is unlikely that a team will be established to launch and grow the new venture.

Financial Issues

Starting up a workout gym requires high initial investment capital. The business will have more than three revenue drivers. These include personal training, fitness instruction, physical therapy, and diet planning. According to my business plan, the break-even time should be one to two years. This will be achieved through perfect execution of financial projections. Market assessment research shows that financial performance of most fitness businesses is modest. My ability to fund the business is very low due to lack of finances. However, I seek to start the business with the minimal financial resources I have accumulated in my savings together with a few loans from well-wishers.