First of all, it is worth highlighting that ReFyne Fitness has advantages over competitors that allow the organization to take leadership positions. The company has a large number of products suitable for different target audiences. Among them are classic fitness classes, as well as yoga and complete nutrition programs (ReFyne Fitness, 2022). In addition, unique products can be identified, such as work with mental health, which is exclusive in the analyzed niche. Moreover, ReFyne Fitness’s target audience is a wide group of people regardless of age, gender, or health status (ReFyne Fitness, 2022). Despite such a set of strengths, it is worth noting the weaknesses.
Weaknesses and Opportunities of Company
Weaknesses concern pricing, which will lead to high prices for the services provided. This is the reason which provides the lack of regular customers, and creates a serious turnover. According to statistics, the company has 1500 new visitors every month, however, a small number of them remain loyal customers of the organization (ReFyne Fitness, 2022). Another weakness worth highlighting is that the organization cooperates with a small number of states (ReFyne Fitness, 2022). While these disadvantages exist, they can be converted into opportunities. Thus, the company needs to reduce prices, and for this it is worth reviewing the current lease and supply agreements. When finding more favorable conditions for the transportation and purchase of goods, the organization will increase its income. This will allow management to change prices in favor of the client without prejudice to ReFyne Fitness. The firm can transform its strong strengths into great opportunities, especially in mental health. Psychology and help in the fight against complexes and self-doubt is a promising area, since the problem is common among adolescents. At the same time, fitness rooms are most in demand among the young population. Thus, it is possible to combine two goals and gain an advantage over competitors.
Threats and Challenges
At the same time, it is worth characterizing the potential threats and challenges for ReFyne Fitness. The current disadvantages, in particular the high price, are forcing customers to go to companies like Planet Fitness (Planet Fitness, 2022). The lack of high loyalty of people can potentially grow the audience of a competitor in such a way that ReFyne Fitness can go out of the market. Therefore, in order to prevent this, it is necessary to analyze the policy of Planet Fitness and reform ReFyne Fitness.
Works Cited
Planet Fitness. (2022). Join the Judgement Free Zone to Get These Perks!
ReFyne Fitness. (2022). Products.