Introduction
Starting entrepreneurship is always exciting yet also a challenging experience that requires an extensive amount of resources and impressive leadership skills (Weske 4). The project under analysis concerns the design and the further launch of a sports center and is expected to become a successful enterprise. Although the challenges relate to the financial and legal issues may hinder the process of setting a sports center in the environment of the target market, a detailed analysis of the key factors may avoid typical issues and create premises for a successful establishment of the company.
Budget
The budget of the company will make approximately $500,000. It is expected that the annual income will reach approximately $700,000; therefore, the expenditures taken currently are bound to be covered successfully. It is expected, though, that extensive costs will be taken to rent the premises, acquire the necessary equipment, hire competent staff, and purchase the materials necessary for creating the corresponding interior (Bates 48).
Permits/Approvals
As soon as the key expenses are identified, the registration of the company and the acquisition of permits for opening the facility, operating the corresponding sports and leisure services, providing the above services in the designated premises, and carrying out the construction work will have to be obtained.
Marketing
Extensive market research is imperative to facilitate successful integration into the target environment and attracting the attention of the audience. It should be borne in mind that the marketing process is going to be twofold. First, a detailed analysis of the current demand and the identification of opportunities for brand product development needs to be carried out (Rossolatos 17). Afterward, the financial issues (i.e., the costs to be taken in the process) have to be identified and resolved.
It is expected that the principle of sustainability should be adopted so that the financial resources should be distributed based on the significance of a particular area for the current progress of the organization. Therefore, marketing is going to get an impressive amount of resources to be sustained (Kavaratzis 119).
Design and Development
The process of setting the office, the site of the company, and the transportation of the materials and equipment should be viewed as the next essential step to take. Once the resources are gathered, the external and internal works will have to be carried out (Pilot 36). The rearrangement of the essential information and the process of document archiving should be viewed as the final steps to be taken before opening the facility.
Recruitment
The stage involving hiring the personnel and helping them acquire the necessary skills and competencies (Lavigna 8) needs to be brought up as well. It is assumed that the specified process will occur for a month (30 days).
Conclusion
Although the problems related to the financial, economic, and legal processes required to be completed before opening the organization are large, the incorporation of an efficient time management strategy, a detailed plan, and a strong leadership strategy allowing for the staff motivation will permit setting the company in the environment of the target market successfully. As long as the company adopts a sustainable strategy for allocating the available resources sensibly and responsibly, the premises for successful integration into the target market can be expected. As long as the company creates a platform for further communication with the key stakeholders (i.e., customers, staff, and shareholders), it will be able to attain success in the environment of the global economy.
Works Cited
Bates, John L. Creation and Control of a Small Business: A step-by-step simple guide for first-time entry to the business sphere. New York, NY: Xlibris Corporation, 2014. Print.
Kavaratzis, Mihalis. Rethinking Place Branding: Comprehensive Brand Development for Cities and Regions. New York, NY: Springer Science & Business, 2014. Print.
Lavigna, Robert L. Engaging Government Employees: Motivate and Inspire Your People to Achieve Superior Performance. New York, NY: AMACOM Div American Mgmt Assn, 2013. Print.
Pilot, Janet. Driving Sustainability to Business Success: The DS FactorManagement System Integration and Automation. New York, NY: John Wiley & Sons, 2014. Print.
Rossolatos, George. Brand Equity Planning with Structuralist Rhetorical Semiotics. Berlin: Kassel University Press GmbH, 2014. Print.
Weske, Mathias. Business Process Management: Concepts, Languages, Architectures. New York, NY: Springer Science & Business, 2012. Print.