Executive Summary
Introduction
There is a resurgence of the mid-market fitness club and gym market segment. This is the opportunity that Olympus SP seeks to capitalize on by providing an ample 19,000 square training facility, complete with a parking lot and 40 yards of outdoor within the metropolitan Aston, Birmingham region.
Mission
The gymnasium’s primary mission will be to simply a tailored, scalable fitness experience for every individual who walks through its doors. This will consider every individual’s fitness experience, goals, gender, age, and any medical or pre-existing conditions to ensure safe, efficient training.
Value Proposition
Olympus SP will be a price leader in the mid-market health and fitness clubs segment. Further, the gymnasium will offer highly specialized and state-of-the-art equipment, free weights, and cardiovascular machines within a handicap-friendly and inclusive environment. In-house personal trainers will also ensure the development of customized fitness plans that address each client’s fitness needs comprehensively.
Ownership and Management
Olympus SP is a sole proprietorship business with an extensive managerial support structure comprising a gym manager, an accountant, head trainer, assistant trainers, team leaders, and team captains. This hierarchical structure allows relative autonomy while ensuring that decisions can be quickly made to mitigate threats and capitalize on opportunities.
Target Market
Olympus SP’s target market is essentially the working population of Birmingham, UK. This comprises individuals ages 16 to 64 of either gender who are in need of a relatively affordable yet robust and scalable fitness regimen. Customized fitness plans would essentially fit with any work schedules and related obligations, along with other personal responsibilities.
Competitive Advantage
An innovative, specialized, and first-to-market gymnasium that provides a highly inclusive environment and proficient trainers to ensure that each patron’s fitness needs are acutely addressed, with a customized plan that is relevant for them and scalable to capitalize on improvements on their fitness journeys.
Introduction
Description of the Company
Olympus Strength and Power, stylized as Olympus SP, is to be a gymnasium specializing in strength and resistance training for individuals and athletes and Olympic lifting regiments for competitive lifters. It is to be solely owned and managed by Company Owner with assistance from Nicholas Cheadle and Rebecca Chambers from Paragon Strength and Fitness. The business will be run from a heavily remodelled, refurbished and outfitted warehouse facility within Aston, Birmingham.
Olympus SP is dedicated to providing a viable, commercial alternative to regular gym-goers, athletes, powerlifters, bodybuilders, and Olympic lifters looking for a professional, well-equipped and specialized gymnasium within the Aston and greater Birmingham region. The ample variety of equipment and free weights, as well as physical trainers, will ensure that each individual has a tailored and scalable experience within Olympus SP that takes into consideration their gender, age, fitness experience, fitness goals, activity levels, and workout preference.
The space within which Olympus SP will be developed is currently an almost-derelict warehouse spanning over 19,000 square feet. The warehouse is adjacent to an undeveloped swathe of land, which will be repurposed into ample parking space and provide over 40 yards of outdoor turf. The renovations necessary for the refurbishment of the warehouse would include the implementation of an air conditioning system and structural integrity reinforcement. This is a prime location within the outskirts of the Aston metropolitan area and provides a serene, spacious environment for would-be patrons of the gym. The proprietor is also fairly well-known within the local community and online on social media networks as a reputable fitness personality.
Company Mission
The mission of the new gymnasium will be to provide a tailored, scalable fitness experience for every individual who walks through its doors. It is fully expected that Olympus SP will benefit from the current health and fitness renaissance that has been happening globally. More people are becoming increasingly aware of the resultant health problems of a mainly sedentary lifestyle owing to extensive public health and non-governmental sensitization drives. Furthermore, the professional weight-lifting, bodybuilding, and powerlifting scene has grown tremendously due to the development of highly competitive platforms such as the Arnold Classics and the Mr Olympia competitions. As a result, more individuals are interested in albeit adopting a consistent gym routine, which is an aspect that Olympus SP is looking to capitalize on.
To achieve its primary mission, Olympus SP will provide 19000 square feet of gym space, including changing rooms and showers, the office, and the actual gym floor. There will be a wide variety of exercise machines, free weights, and cardiovascular machines such as treadmills, Stairmasters, and exercise bikes for a holistic fitness experience. Furthermore, there will be approximately 40 yards of outdoor turf for field exercises. This infrastructure, coupled with in-house personal trainers, will ensure that every individual can train safely and effectively. Furthermore, there will be the option of discerning clients bringing in their personal trainers for that additional level of customizability.
Value Proposition
Due to the experience of its proprietor, and the support of the reputable Paragon Strength and Fitness brand, Olympus SP is the capacity to satisfy a specific sector of the fitness and wellness market by providing fairly priced, scalable, and scaffolded fitness and strength training services. The scalable and scaffolded aspects will be availed through the implementation of highly-qualified trainers who can customize workout programs based specifically on the client’s requirements.
The success of the business is highly dependent on the local population, as well as visitors who may be aware of the facilities through the proprietor’s social media accounts. Owing to this demographic, there is expected to be a high quantity of day passes sold, in addition to monthly, quarterly, or annual membership packages to the gym. Furthermore, there will be an expected increase of patrons during the earlier months of the year due to resolutions made during the New Year period and a waning attendance during the rest of the year.
The value proposition for Olympus SP is quite straightforward. The business seeks to deliver value to its clientele in a variety of ways. The first approach is availing all the services of the gymnasium at a relatively low price point. This will ensure that the business operates within the mid-market health club categorization, ideally as a price leader in this segment within the region. This ensures that the financial burden of a day pass, monthly, quarterly, or annual memberships on patrons is significantly alleviated. Further, gym-branded merchandise and that from affiliated partners will be regularly availed, with purchases going either directly into discounts or redeemable points for patrons or community and not-for-profit work within the region. Finally, Olympus SP will provide an exclusive corporate package that allows companies and organizations to partner with the gymnasium and include memberships in their employees’ health packages.
The considerable finances required to ensure the success of Olympus SP will be sourced from a private source, which is the proprietor’s own funds primarily and supplemented by the public sector through grants. This investment will ascertain the creation of 7 full-time jobs, along with possibly further employment within the business and overall support to the community at large. The corporate social responsibility (CSR) of Olympus SP will be to ensure long-term sustainability and overall environmental responsibility. This can be achieved with the realization of the core purpose of the business, being the enrichment of health and well-being for members and clients. The shower areas will include water-saving showers to reduce water utilization and wastage levels, and some of the cardiovascular equipment, such as cross-trainers, would be self-powered, as energy conservation is a significant consideration. Finally, Olympus SP is committed to the gradual reduction of paper used throughout the length of its operations.
The Locality and its Attractions
Aston and the greater Birmingham area offer a rich metropolitan experience for both locals and visitors alike. There are notable medieval structures and architecture, including the ancient Church of Saints Peter and Paul, which is believed to be an 11th Century building, along with the Aston Hippodrome, the Barton Arms Public House, and Aston Hall. The town is a significant sports and culture hub, lending its name to Aston Villa Football Club, which is one of the world’s biggest football teams. The team has played primarily at Villa Park Stadium since the late 19th Century and is one of the largest football grounds in England. Locals and visitors alike can therefore travel to matches and other events hosted on the grounds.
Olympus SP is located approximately 10 minutes off the A38 motorway, which gives convenient, and unrestricted access to more of Aston’s attractions, including the aforementioned Church of Saints Peter and Paul and other essential spots such as metropolitan office blocks, Aston University and Aston Hall. As a metropolitan suburb, Aston also ensures a unique blend of proximity to office and commercial spaces with residential areas, ensuring that the location of Olympus SP is ideally situated near locals’ residential neighbourhoods.
The Industry
Historical Background
Olympus SP will provide resistance-style training, which encompasses many disciplines, including strength training, bodybuilding, CrossFit, weightlifting, powerlifting, functional fitness, and so forth. While Olympus SP can conceivably accommodate a majority of these disciplines, specific focus will be made on bodybuilding and strength training approaches. This is believed to be essential for the core mission and vision of the business.
Bodybuilding and strength training have, as an activity, been conducted for a relatively long time. The former can be described as the implementation of progressive resistance exercises and movements to help develop an individual’s muscular structure primarily for aesthetic purposes. Strength training, on the other hand, uses comparable progressive resistance movements to develop musculature for strength purposes (Stricker, Faigenbaum and McCambridge, 2020; Schoenfeld et al., 2019). Given the similarities between the two disciplines, they are often complementary, and an individual may inadvertently achieve ideal results in one while training in the other.
Based on historical evidence, bodybuilding and strength training are not modern inventions. In fact, Egyptian tombs have depictions of individuals lifting sandbags and other exercises. Furthermore, significant competitive platforms such as the Olympics have had events showcasing feats of strength for many decades. Bodybuilding, on the other hand, can be traced back to 19th-century pioneers such as Eugene Sandow, considered the father of modern bodybuilding. Such individuals introduced the idea of physiques resembling Gracilian imagery, which depicted the standard of perfect body proportions nearing those of ancient Roman and Greek statues. In competitive bodybuilding, individuals are judged primarily by how closely they abide by these proportions.
Resistance training has, however, evolved significantly with the continuous invention of weight machines, the plate-loaded barbell and dumbbells, as well as improving human understanding of the principles of biomechanics, nutrition and supplementation. Bodybuilding and strength training in the past was very novel and limited, as very little could be done to change how the exercises were done, and people generally did not know better. However, with the increased awareness of the dangers of sedentary living and the wealth of information available today, resistance training is making a significant resurgence.
Current State of the Industry
The health, fitness and wellness renaissance has translated into a highly abundant period for gymnasiums and fitness centres worldwide. The current health club market is globally highly lucrative, with an estimated market worth, as of the end of 2019, of USD 96.7 billion (Rodriguez, 2020). Furthermore, there is expected growth in this industry, as it has shown consistent, uninterrupted growth since 2008 (Guadreau, Wylie and Flory, 2020). In the United Kingdom solely, it is estimated that there are over 7200 gyms currently in operation, serving approximately 4.5 million adults, or equivalent to 7 per cent of the entire UK population. This equates to a market value of just under £5 Billion (Rodriguez, 2020). This precedence outlines a highly favourable future and operating conditions for the initialization of Olympus SP.
The development of the fitness industry directly correlates with that of fitness centres and gyms globally. High-end boutique studios, as well as budget health clubs which are marketed directly on a platform of high-volume offsetting low costs, are gradually improving year after the next (Rodriguez, 2020). On the other hand, there is immense potential and growth capacity within the increasing resurgence of the mid-market gymnasiums and health clubs, which is the particular market niche that Olympus SP seeks to utilize and exploit. There has been a 15-20 per cent increase in gym attendance within the UK in 2019, which effectively translates to 3.3 million more people training in commercial gyms and undertaking regular physical exercise (Rodriguez, 2020). Olympus SP can launch within this market, offering highly versatile yet specialized fitness and health services to capitalize on these trends.
Target Demographic
The age in which resistance and strength training can be safely commenced has seen significant research discourse in recent years. However, studies such as Malina (2006), Myers, Beam and Fakhoury (2017), Guadreau, Wylie and Flory (2020), and Stricker, Faigenbaum and McCambridge (2020) have asserted that it is safe to commence this style of training as early as 6 to 8 years of age. In fact, most of the concerns regarding weight-training and other forms of resistance-based training in children and younger adults, such as stunted growth, were debunked as fallacies. This is the approximate age whereby individuals start exhibiting a concerted interest in sports and games. Resistance training is beneficial and a prerequisite to many sports, as moving with proper form requires adequate strength of strength and resilience. On the other hand, there is no age ceiling to which an individual should safely participate in resistance and weight training. This is heavily contextual and reliant on an individual (Myers, Beam and Fakhoury, 2017, Fragala et al., 2019; Lopez et al., 2018). Therefore, it follows that the viable demographic for Olympus SP could be viably any individual older than eight years of age within the Aston, Birmingham area.
Given the current market trends in the health and fitness industry, it would, however, be more conducive for the growth of Olympus SP if there was a high demographic of a young working population. Based on the 2019 mid-year population estimate of Birmingham, the resident population was approximately 1,141,800 individuals. This was a 0.04 per cent increase in population since the year prior (Birmingham City Council, 2020). However, this is the slowest year on year growth rate since 2001, which has been attributed to contributory factors such as increased emigration from the county, as well as decreasing fertility rates (Birmingham City Council, 2020). However, the population exhibits a highly youthful age structure, with more people in the younger age brackets and fewer in the old (Birmingham City Council, 2020). This is ideally a target demographic for Olympus SP, as the market segment that is reasonably bound to avail itself of the services offered would be the 16-64 years age bracket, which comprises approximately 64 per cent of the entire Birmingham population. The broad age structure as per this particular mid-year population estimate is outlined in Table 1 below.
Table 1: Birmingham Broad Age Structure Summary
Unfortunately, Aston is a widely economically deprived region in comparison with the rest of the United Kingdom. This assertion is based on several socioeconomic metrics, including employment deprivation, crime, environment deprivation, income deprivation, health and disability deprivation, barriers to housing to services, and so forth. The rates of unemployment are higher in the region than the national average, as are the levels of rental accommodation in comparison to homeownership in Aston, which are both indicators of economic deprivation (Birmingham City Council, 2020). The proposal for Olympus SP will be, therefore, to provide a value-for-money business approach in which maximum utility is availed for a relatively low cost. Furthermore, health and fitness are being increasingly prioritized within the United Kingdom, thanks in part to concerted efforts by public health bodies and non-governmental entities to sensitize the public on the health repercussions of a sedentary lifestyle, overweight, and obesity (Tiryaki-Sonmez et al., 2015; Storer et al., 2018; Jia et al., 2018; Upadhyay et al., 2018). With the development of social media, people are also increasingly developing an appreciation for looking good and feeling good.
Sales and Marketing
A sales and marketing analysis allows the business’ managerial team to ascertain that Olympus SP is incubated in consideration of the needs of its target demographic, as well as assessment of its accessibility to its ideal target market. Furthermore, the facilitators that drive the target demographic to incur a fair cost for the value provided by the gymnasium are assessed in direct comparison with market and industry conditions. For the purpose of this particular analysis, a SWOT analysis, along with the 4Ps Marketing Mix approaches, will be used. Furthermore, competitiveness and profitability will be assessed using Porter’s Five Forces Model.
SWOT Analysis
The SWOT analysis framework allows an assessment using a validated research and examination tool to assess the strengths and weaknesses within a business’ internal environment and the opportunities and drawbacks within its external environment. This would, ideally, provide a critical analysis of which business aspects can be leveraged to favour the overall business activities and which elements pose a potentially negative effect on the business practice (Gürel and Tat, 2017). Such an analysis of Olympus SP will give a more precise roadmap of the business aspects working for and against the company in the specific market (Phadermrod, Crowder and Wills, 2019; Gürel and Tat, 2017). It would provide a clearer picture of how the business idea ought to be executed and the possible ramifications of operating within the specified market.
Strengths
These are the essential success factors working for Olympus SP. They comprise elements that would reasonably do well in the market and should be implemented and capitalized within the business. It is critical to leverage identified strengths as they would bear the most significant growth potential for the business. Therefore, Olympus SP should be launched with succinct consideration of these elements being best presented to the end-user of the company’s services.
The primary strength of Olympus SP is the elements outlined in the value proposition. This includes the severely subsidized membership costs, making the gymnasium a price leader in that particular market segment of the mid-market fitness centres and health clubs. There will be an extensive, well-structured, and tiered price catalogue to accommodate patrons wishing to purchase day passes, as well as monthly, quarterly, and annual memberships. These memberships will be effected without any unfairly binding commitment contracts, allowing clients the autonomy to independently initialize or terminate their membership contracts. Regardless of the subscription package, each patron will be reasonably allocated a personal trainer to ensure safe, scalable, and effective exercise.
Furthermore, Olympus SP will seek to be a highly inclusive gymnasium. To this end, all of the facilities and amenities within the gymnasium will be handicap friendly. This is especially essential as resistance training is recommended within specific injury recuperation therapies, as well as allowing individuals with varied physical disabilities access to affordable fitness programs. The corporate program also allows business entities and companies seeking to improve employee benefits to integrate Olympus SP memberships with their employee health packages.
Weaknesses
Identification of Olympus SP’s weaknesses is essential in allowing the proprietor and the entire managerial team to identify, highlight, and mitigate manageable failures with the launch and management of the gymnasium. These weaknesses can be identified through a critical assessment of Olympus SP with other comparable fitness studios, health clubs, and gymnasiums within the market. This review also allows the managerial team to devise strategies on how to address any resultant adverse effects arising from the execution of the business idea.
The main weakness of Olympus SP is that it serves a limited geographical coverage as it will be a single gymnasium operating based in Aston, Birmingham. Resultantly, only clients who can geographically commute to Aston will have the opportunity to enjoy the fitness experience provided by Olympus SP. To mitigate this weakness, there will be online classes held by in-house trainers with remote clients, but the lack of physical access would be a significant hindrance. Furthermore, while Olympus SP offers exceptional functionality in its service delivery, in some instances pioneering those packages in health and fitness within the United Kingdom, none of the services can be patented. As a result, Olympus SP will operate on a highly imitable business design.
Opportunities
The weaknesses and strengths identified within the internal operating environment of Olympus SP can be translated and leveraged into viable opportunities with tremendous business growth potential. These opportunities may be availed due to ongoing industry and market trends or otherwise be unique to the context of Olympus SP. However, if exploited, they can translate into benefits for the business venture. The foremost opportunity within the external environment of Olympus SP would be the consistently positive growth of the entire fitness industry. Along with this growth are the increasing popularity of mid-market gymnasiums, fitness centres and health studios. Olympus SP can capitalize on this growth to expand its reach, both digitally and geographically, by opening further branches and franchises in locations within Birmingham and the United Kingdom.
Threats
The primary threat to the business venture that is Olympus SP is that it operates on a highly imitable business design. This is despite providing highly innovative and functional services. As a result, any competitors, including already established fitness centres, can replicate the packages and services provided to the detriment of Olympus SP. As a result, the main leverage that Olympus SP seeks to apply is to be first-to-market with these services before they are widely adopted within the UK fitness and health industry. This threat, therefore, can be sufficiently mitigated if Olympus SP secures sufficient goodwill with clients and patrons before competitors’ adoption of the same services. Finally, the novel coronavirus (COVID-19) pandemic has proven that natural disasters and adverse occurrences are an ever-relevant and present threat to businesses. Table 2 below outlines a succinct summary of the SWOT analysis conducted on Olympus SP.
Table 2: SWOT Analysis of Olympus SP
The 4Ps of Marketing
A marketing mix represents the collection of choices and marketing decisions that a business employs, or seeks to employ, in the attempt to bring a commodity into the market. The 4Ps of the marketing approach is a basic yet robust framework to address the primary concerns that ought to be tabled and addressed during the initial marketing procedure (Išoraitė, 2016). In the case of Olympus SP, the 4Ps of Marketing Mix include:
Product
Under this domain, Olympus SP ought to identify what their patrons need from their products and services and ensure that these needs are met. In this case, the target demographic for the gymnasium has been identified as 16 to 64-year olds of either gender, which comprise the working population of Aston, Birmingham. This market segment would have a sufficient understanding of the need for physical activity, perhaps owing to public health concerns, professional requirements, or simply as a hobby. They also do have adequate resources, as the working population, to initialize and commit to a gym membership and outlined fitness plan.
To meet the needs of this market demographic, Olympus SP will provide a comprehensive, affordable, yet scalable array of health and fitness options. There is the inherent consideration that, for sustainability, these services need to be integrated into the patron’s life, rather than attempting to design their life around fitness. For easier customizability, the client base will be divided into consumer segments based on their age, gender, level of fitness skill, preferred training methods, any medical and pre-existing conditions, overall fitness goals, and budget. This ultimately ensures that every client’s needs are well understood and considered and their experience custom-tailored for them.
Place
The flagship Olympus SP gym will be opened in Aston, Birmingham, on a renovated, refurbished, and repurposed warehouse spanning 19,000 square feet, with an additional parking lot and 40 yards of outdoor turf. Opening a gymnasium within this metropolitan region is quite straightforward, provided that the proper regulations, inspections, and policies are adhered to strictly. The gymnasium’s trainers will also hold online classes for remote clients and maybe lend out on mobile capacities to discerning clients after sufficient background information is conducted on the individual.
Price
Olympus SP will feature a tiered price structure depending on the type of membership in question. There will be day passes available at £5, or in the event of merchandizing discounts, the purchase of an Olympus SP-branded t-shirt or stringer vest. On the other hand, the monthly memberships will range from £16 a month, with an initial one-time fee of £5 for registration and joining. This monthly fee reduces to £14 for the quarterly membership option and £12 for the annual gym membership. All these prices are inclusive of a trainer and training class services.
Promotion
The primary medium used to promote Olympus SP will be social media, along with client and trainer referrals. There is also expected to be significant traffic arising from the affiliation of the gymnasium with Australian-based Paragon Strength and Fitness and its proprietors. The proprietor of Olympus SP also has a significant social media following, which will be instrumental in the branding and marketing of the gymnasium. This primarily digital approach would significantly help the trainers, proprietors, affiliated personalities, and managerial team reach a wider variety of people and push the brand of the gymnasium.
Porter’s Five Forces Framework for Competitive Analysis and Profitability
Michael Porter’s Five Forces Framework is a tool developed for the industry-wide assessment of competitive capacity and, ultimately, profitability. This approach is, however, best suited for industries comprising more than three comparable firms and may be limited in the event of smaller industries (Khurram, Hassan and Khurram, 2020). This stipulation is adequate for the market within which Olympus SP would be launched as there are numerous gymnasiums, fitness centres and health studios in the Birmingham region. As a result, this framework is appropriate for the competitive market analysis in this case. The five primary forces comprising the framework include supplier power, buyer power, competitive rivalry, the threat of substitution, and the threat of a new entry (Isabelle, D. et al., 2020). Government regulation is also widely regarded as a significant influence in many industries and may be included as the sixth force in many analyses. The infographic in figure 1 below outlines the Porter’s Five Forces Analysis of the fitness market in Birmingham, in which Olympus SP will be operating.
The People
Ownership
The gymnasium will be solely owned and operated by Company Owner on a sole proprietorship basis. This ownership approach means that the proprietor will have exclusive ownership of the business and all its affiliated assets, complete autonomy, and also only reception of the business profits, losses, and liabilities. However, this approach may be essential given the small amount of bureaucracy involved, allowing Olympus SP as a business entity to be versatile and capitalize on opportunities as they avail themselves.
Management Attributes
The proprietor will have complete and autonomous control of Olympus SP. Having acquired a bachelor’s program, the business owner is a competent professional with additional proficiency from self-taught business practices and an intimate understanding of business policies, compliance requirements, and regulations within the United Kingdom. However, a managerial team will be created to assist the proprietor in the daily operations of Olympus SP. This team will include a gym manager, an accountant, a head trainer, team captains, and leaders. This team, with their corresponding competencies, will promote the efficient division and delegation of duties and separation of roles to further encourage autonomy business within the entity.
Training and Development
While the employees of Olympus SP will be leading professionals in their respective fields, there will be extensive opportunities for professional development availed. This will ensure the consistent improvement of business personnel and, resultantly, the gymnasium’s operational efficiency. Further, professional development fosters a better sense of responsibility and job appreciation among staff. There is a formalized gym staff training plan that is initialized for each employee by providing an employee handbook detailing procedural instructions, policies, and developmental goals. Additional training and competencies can be gained by staff members in tandem with employment, increasing their overall efficiency and, eventually, more satisfied clients.
Organizational Structure
Figure 2 below shows the organizational structure at Olympus SP, which follows a hierarchical structure.
External Help
The majority of Olympus SP’s services and product development will be done in-house, with the staff on-hand. However, there is a need to collaborate with other business entities on a transactional or contractual basis. This may be done through merchandise manufacture and branding, business collaborations, and deals with supplement and energy drink companies to provide displays and dispensers within the premises. Olympus SP also has transactional cooperation with a wide array of dieticians, medical personnel, chiropractors, massage parlours, and spas to provide patrons with a holistic wellness and fitness experience.
Future Development
Based on the market trends within the fitness and wellness industry in the year 2019, there is a projected increased adoption of mobile technologies. Resultantly, there has been an increase in smart offerings, including wearable trackers, smartwatches, fitness bracelets, rings, and so forth, along with an array of mobile applications (Rodriguez, 2020). As a result, future development for Olympus SP would be the development of a mobile app for a robust online remote class feature, along with functionality, including booking classes and memberships.
Financial Data and Action Plan
Several assumptions were essential in the development of the financial projections for Olympus SP. These include the following critical assumptions:
- There is a consistently growing economy and industry, with no significant recessions or booms.
- There are no unprecedented changes in the fitness, medicine and health, or commercial domains.
- There are no major national or international events that significantly threaten the stability of the UK and its citizens.
Appendix 1 features the break-even analysis, cost table, quarterly income statements and statements of financial position, and the business’ cash flow forecasts as well. In appendix 2, an action plan is outlined, featuring the overall implementation goals for Olympus SP over the first year of operation within the Birmingham fitness and health industry. It provides the initial template for marketing and retention steps undertaken by the business entity to acquire and retain market goodwill and competitiveness.
References
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Guadreau, Z., Wylie, R.C. and Flory, S.B. (2020) ‘Teaching resistance training principles to children using an implement: the deadlift’, Strategies, 33(3), pp.31-36. Web.
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Appendices
Appendix 1
Break-even Analysis
For Olympus SP, the break-even point (N) is the value of sales (memberships and merchandise sales) which result in zero profit.
Therefore,
Start-up Costs Table
Financial Data
Quarterly Budgeted Profit and Loss Accounts
Cashflow Forecasts
Statement of Financial Position