...STRATEGIC PLAN PART 2: SWOT Analysis Paper Latrice V. Smith BUS/475 University of Phoenix May 26, 2016 Thomas Lalka STRATEGIC PLAN PART 2: SWOT Analysis Paper Strategic Plan Part II: SWOT SWOT analysis is a vital system or tool utilized for anyone either before starting a company or even through the life of the company. SWOT analysis allows a company to determine where they currently stand in the market they are in and where they can take their company in the future. Knowing the strength, weakness, opportunities, threats, and trends could be the difference whether the company or organization will succeed or be outdone by its competitors. On this paper a SWOT analysis has been conducted to show the strength, weaknesses, threats, and trends that could impact the future of Power House Gym. Environmental Analysis There are various outside elements that could influence Power House Gym’s ability to reach it goals and accomplish the mission. In order to succeed Power House Gym will have to determine the proper strategy that could maintain the business. Studying the external environment about the business industry, competition, economic elements, technological elements, demographics, and so on could give Power House Gym an edge to continue succeeding move forward towards its goals. On the other hand internal environment is equally important since it analysis the inside aspects company’s operation, internal guidance and mission (Wise geek, 2003-2014). Performing an internal...
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...Assignment: Individual SWOT Analysis BUS/210 April 29, 2012 John Pollard Jr. Assignment: Individual SWOT Analysis Out of the seven business plan topics I have chosen to create a SWOT analysis for a fitness and sports business. All over the United States there are many fitness and sports centers that many people attend on a daily basis. Such as gyms like Curves, Planet Fitness, Gould’s Gym and many more. However all of these gyms have something in common and that is to promote healthier lifestyles for individuals. Strengths: * Team players who are there to help the member strive in their goal for a healthier lifestyle. * Has a well developed plan of action on how we intend to assist the community in a more beneficial way. * Well known fitness clubs allows for brand recognition. * Low affordable costs for yearly contracts or even just a month to month no contract memberships. This can attract more consumers (customers) who may not be looking for a pesky contract or those who do not want to feel tied down , to a long term commitment. * Sports amenities such as personal training. * Group classes such as Zumba, Yoga, Polities, food nutrition, and many other classes and groups. Weaknesses: * Lack of desire for member retention, only focusing on new member acquisition. * Lack of or poor customer service. * Lack of or poor cleanliness such as clubs are poorly maintained or taken care of. * Lack of thought and time management...
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...SWOT Analysis: Fitness Centers Industry Courtney Albertson PHL/320 30 March 2015 Matthew Hazlett SWOT Analysis: Fitness Center Industry It today’s society, “going to the gym” has become a normal phrase heard around the world; however, the fitness center industry is not exactly in the spot light of today’s media and headline news. So, that sparks the interest of what makes the fitness center industry succeed, what are their strengths. What about the fitness center industry in the future; are there weaknesses that could ultimately cause them to fail as a whole? What about opportunities that could add to their success? Are there threats that lean on the shoulders of those managing such an industry? With all this curiosity, a SWOT analysis needed to be done. Are you curious about those results? Are you curious about the future of your gym? Industry Background The fitness center industry only came to light in the 1970s and 1980s with simple cardio (running), and aerobics. Though, in the early 2000s an enormous growth occurred in the industry; in the beginning of the decade there were 16,938 combined gyms and clubs, and by January 2008, there were 29,636 combined gyms and clubs (Franchise Help, 2015). This industry comes in many shapes and colors, so to speak; there are large name-brand franchises such as LA Fitness, 24 Hr. Fitness, and the YMCA, there are small local gyms that are ran by neighbors and friends of a small town, and of course the private, elite country clubs...
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...Section I PURPOSE The purpose of this report is to outline and analyze current marketing strategies. This report will include a SWOT analysis, a market analysis, a company analysis, customer analysis and competitor analysis. The analyses will result in recommendations for a marketing plan to expand the company by increasing location size and customer base. FINDINGS Yelm Bootcamp and Personal Training has been in business since June 2011. The company was started by husband and wife team, Amy and Jamie Honey. Their current marketing plan includes a company webpage, various social media sites and the use of a referral platform. The owners currently do all marketing and advertising on their own and also maintain their company website. The company is very active on Facebook, Instagram and YouTube. These are the primary ways that they communicate with current clients and try to bring in new clients. Yelm Bootcamp is also active in the local community. They donate 30 day memberships to silent auctions throughout the year. The existing marketing budget is about $500 per month. Monthly memberships are $80-$110 a month, depending on discounts customers qualify for. Section II MARKET ANALYSIS Over 72 million Americans, or one third of the population of the United States, are considered clinically obese. This is why consumers continue to be interested in exercise to boost their fitness and health. Currently 41 million Americans are members of a health club. During the...
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...SWOT and Strategy Evaluation: Fitness Centers Industry Amberly Locke PHL/320 September 14, 2015 Carolyn Harrison It today’s society, “going to the gym” has become a normal phrase heard around the world; however, the fitness center industry is not exactly in the spot light of today’s media and headline news. So, that sparks the interest of what makes the fitness center industry succeed, what are their strengths. What about the fitness center industry in the future; are there weaknesses that could ultimately cause them to fail as a whole? What about opportunities that could add to their success? Are there threats that lean on the shoulders of those managing such an industry? With all this curiosity, a SWOT analysis needed to be done. Are you curious about those results? Are you curious about the future of your gym? Industry Background The fitness center industry only came to light in the 1970s and 1980s with simple cardio (running), and aerobics. Though, in the early 2000s an enormous growth occurred in the industry; in the beginning of the decade there were 16,938 combined gyms and clubs, and by January 2008, there were 29,636 combined gyms and clubs (Franchise Help, 2015). This industry comes in many shapes and colors, so to speak; there are large name-brand franchises such as LA Fitness, 24 Hr. Fitness, and the YMCA, there are small local gyms that are ran by neighbors and friends of a small town, and of course the private, elite country clubs and spas (First Research:...
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...September 8th, 2014 Judgment Free Zone As the Chief Financial Officer of Planet Fitness, I have assembled a team of experts from within the organization who will brainstorm to formalize a strategic plan to grow the business in the next several years. As part of this strategic analysis we will conduct a SWOT analysis to determine different opportunities for change. At the same time we will come up with a plan that will be extremely critical to measuring our success. The “judgment free zone” mission and vision of Planet Fitness is where we begin in our endeavor to become the most successful fitness club ever. The Plan An industry analysis studies an organizations reasons for change and its strength (Abraham, 2012). It is a vital step forward in the way an organization or company analyzes its strategic planning. Our team knows very well what value an industry analysis brings to the table. They are experts in their fields. It will prepare us for what lies ahead in terms of its success. Also, it opens avenues for the company to grow in its industry and be able compete with its competitors. It fortifies an organization and fills it with powerful information to move forward. Our top analysis team will include top-management personnel. This approach is more efficient because it will allow us to relay what has been decided to the lower management levels and employees (Abraham, 2012). This qualified team will assist in implementing the strategic plan. It is vital to...
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...business environment market research (Assignment 1) decide on a strategy for the segmentation of your selected target market/s as well as a positioning of the business in respect to previously identified SWOT analysis elements and competitors strengths and weaknesses. Following that, you will decide on a number of marketing activities (describe in details what these are) designed to launch (remember that this is a new business) and further promote your business. The budget available to you, for the chosen activities, is $60,000 and you will present these in a table format with clear indication of type, starting date, duration and cost for each of these (pricing of activities should be researched with real figures inserted in your table).The following sections are expected: Title page Executive summary Table of contents 1.Introduction 2.Description and location of the business (from Assignment 1) 3.Environmental analysis (micro and macro) 4.SWOT table followed by a SWOT analysis with key elements listed and explained 5.Market segmentation strategy 6.Target market selection (with rationale of the decision explained) 7.Business positioning in respect to competitors analysis (from Assignment 1) 8.Description of marketing activities (these should be based on your SWOT and target market/s analysis) 9.Budget presented as a table of chosen marketing activities 10.Conclusion Reference listYour report should be written in Arial font size...
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...2.0 SITUATION ANALYSIS Fitness on the Go, a newly formed company is entering the personal training world on wheels. This will be a mobile gym which caters to middle and upper-class professionals. This mobile facility will have state of the art equipment and have all of the amenities of a stand-alone gym. 2.1 MARKET SUMMARY The market includes consumers and business owners who have time constraints that limit them from working out and attending the gym on a regular basis. Within the next three years the market could expand to include various medical facilities and even stay at home moms. 2.2 SWOT ANALYSIS A. STRENGTHS 1. Experienced, professional personal trainers 2. The use of state of the art equipment 3. Only mobile work-out facility B. WEAKNESSES 1. Parking in the downtown & Midtown areas 2. Reliance of outside capital necessary to grow the business 3. Difficulty of developing name recognition as a start-up business C. OPPORTUNITIES 1. Increasing demand for more mobile facilities 2. Growing industry, growing capital D. THREATS 1. Competition 2. Economy 2.3 COMPETITION A. Gyms offering personal training services B. Personal trainers (self-employed) 2.4 PRODUCT (SERVICE) OFFERING Mobile exercise facility that will be in various locations in the downtown & Midtown areas of Memphis, TN. This...
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...Due to over 18% of people in Australia participated in fitness activities in 2010 (Fitness Australia 2012), this report focuses on finding a better gym model. Firstly, it provides an overview of two 24/7 gyms called Anytime Fitness (A) and Jetts (J). Secondly, it uses one critical thinking tool and two business concepts to analyse the internal and external factors. Finally, it draws a conclusion about which gym may have a better future. Case Study Overview This part summaries the background information and differences in terms of scale, geographical distribution, operation mode, revenue, satisfaction between two gyms. According to Anytime Fitness and Jetts official website (2014), the number of A’s members is 10 times larger than J’s all over the world. In addition, Anytime Fitness covers 16 countries and it has clubs in the North Territory. However, statistics from Entrepreneur (2014) show an unbalanced distribution of A, with the number of nearly 75% (1839/2459) franchise clubs located in USA. In contrast, J focuses more on domestic market, especially in Queensland. According to GymsGuide (2014), J has over 70 outlets in Queensland out of 191 outlets in Australia. Moving to operation mode, both of them are franchise. The franchise growth of A and J are 219% and 166% respectively (Business Review Weekly 2013). Furthermore, although J’s fixed fee of joining and access is approximately $39 higher than A’s, the monthly fee is lower and there is no lock-in contracts. Heathcote...
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...“True enjoyment comes from activity of the mind and exercise of the body; the two are ever united.” (von Humboldt, n.d.). As the public becomes more health-conscious and the aging population places greater emphasis on remaining healthy and fit, the fitness industry is maintaining steady growth because of better dietary practices and a resurgence to play and become more active. It is no surprise the demand for gyms and health and fitness clubs will continue to rise. Therefore, my paper will cover the critical concepts as it relates to Bally Total Fitness Case Study. I will highlight Bally’s history, macro environment, SWOT analysis, corporate-level strategy, business-level strategy, and my recommendation for Bally Total Fitness. History, Development, and Growth Dave “Wild man” Wildman is said to be the founder of Bally Fitness, but it was Raymond T. (Ray) Moloney back in the early 1930’s who decided to create an affordable past time of pinball. Anyone could play pinball at the price of seven balls for one cent or 10 balls for a nickel. In January of 1932, Ray founded the popular past time while working under Lion Manufacturing in Chicago. The Ballyhoo pinball game was easy to make and very profitable. With the creation of the “Goofy,” the “Airway,” the “Rocket,” and the “Bumper” pinball machines, Bally Manufacturing, under Moloney’s leadership, took off. Bally Manufacturing headquarters remained in Chicago at the same address for almost 50 years. In 1936, Bally Manufacturing...
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...Competitive Analysis The health club industry has continued to see an increase in the amount of health clubs/fitness centers. Since 1992, the United States has seen the number of health clubs increased by almost 40 percent, from 12,635 to 17,531 facilities. It has also seen an increase in membership by almost 60 percent, from 20.8 million to 32.8 million. What this all means for Fun 4 Life Fitness Center, LLC is that the market is ever growing which translates to more competition. Most fitness centers offer a variety of services to address the needs and convenience of the customers. Some of these services includes personal trainers, facilities with state-of-the-art equipment, and programs that cater to mostly every demographic. Fun 4 Life Fitness will seek to have a competitive edge by providing customers with stellar customer service along with offering a variety of programs and equipment that is sure to develop a following for Fun 4 Life Fitness Center, LLC. Key Competitors The key competitors that have fitness centers in the Corpus Christi area are Gold’s Gym, Freedom Fitness of Corpus Christi, Corpus Christi Snap Fitness Center, and Corpus Christi Athletic Club. Gold’s Gym specializes in providing some of the best cardio and strength equipment to help people realize their goals. Some of their strengths include the programs they offer, their personal trainer staff, and most importantly, the Gold’s Gym brand name. They have built up a reputation for being...
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...Situation Analysis Company (Product/Service) Description …Page 4 Situation Analysis SWOT Analysis……Page 5 Situation Analysis SWOT Analysis…Page 6 Situation Analysis Industry Analysis ….Page 7 Situation Analysis Industry Analysis …Page 8 Situation Analysis Target Market Description (Market Segments/Characteristics) …Page 9 Situation Analysis Marketing Mix/ Competitive Analysis……Page 10 Situation Analysis Marketing Mix Marketing Mix/ Competitive Analysis (Advertising strategies of Competition….Page 11 Advertising Objectives : Communication goal…Page 12 Advertising Objectives Communication goals….Page 13 Advertising Objectives Purchasing Behavior/Positioning …Page 14 Advertising Objectives: Purchasing Behavior/Positioning Page 15 Advertising (Creative) Strategy: Product concept…….. Page 16 Advertising (Creative) Target Audience (Who the advertising will address) …Page 17 Advertising (Creative) Strategy Media Objectives/Media Plan…Page 18 Advertising (Creative) Strategy Communication Effectiveness/Advertising Message (Art elements, Production elements) …Page 19 Advertising (Creative) Strategy Testing & Evaluation Advertising Research …Page 20 Works Cited Testing & Evaluation Advertising Research ….Page 21 Reference…. Page 22 Executive Summary Nike has been one of the most successful retailers of their time; therefore we would like to capitalize on their success for a new concept about a product launch. The overall concept is to launch a revamped Nike Shox gym shoe...
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...Unit 36 M1 Explain methods used to identify the target market for the proposed business Market research Market research can enable you to identify your target consumer, find out what they think about your ideas, products or brand and gather insights to help you target the right market. Market research is part of our business strategy. As a business we need to bear in mind that consumer’s motivation and behaviour change over time so we consider reviewing our research on a regular basis. Market research is finding out information about what potential customers want and also to meet their needs in the beauty industry. We have used 2 methods of primary research and another 2 methods of secondary research. These include: questionnaires, Visits to similar businesses, Internet and Publishes text books. This provides a wide range of information which helped us decide what we should do with our business. Collecting questionaires was one of our primary methods. The advantages about collecting primary research are that it is up to date because we have just collected it. It has met our specific needs as we asked the questions and those questions were based on what we wanted to know about our business. Collecting this type of information is relatively cheap, as it is just a visit and we have record the information. But normally collecting primary research is very expensive as I am starting from scratch. Collecting information of the internet is one of our secondary researches....
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...average multi- purpose workout sneaker. Launching a new sneaker will make it convenient for consumers to derive the benefits of ergonomically supportive workouts that allow a more comfortable fit and lead to superior body support. Careful consideration of demographic factors reveals that young people will be the highest level of consumers of the new product. The rising level of health consciousness is forcing many manufacturers, including the standard sneaker manufacturers to offer more enhanced and functional products to consumers. Purchasing sneakers for use in gyms is increasing in India and China because of consumer awareness relating to the benefits of working out. Additionally, the product choices that consumers make in the United States are highly influenced by weight management programs and gym workouts. In the United States, the new sneaker subsector in select city environments would outperform the standard gym sneaker. Many consumers are seeking better value and a more ergonomic product because of the redesign of the standard sneaker (Jean-Francois, 2010). Market Growth The potential growth for a new ergonomically designed sneaker, targeting the workout market in India and China has a large potential growth of upper income consumers who need support for increased healthy workouts and body toning. The United States market is somewhat saturated...
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...Principles of Marketing Final Report Prepared by: Theresa Togia, Miranda Galo & Ella Misa Prepared for: Professor Lam Yuen 29 November 2013 Table of Contents Page Executive Summary………………………………………………………………………….. 3 Situational Analysis………………………………………………………………………….. 4-5 I. SWOT Analysis II. Target Market III. Costs IV. Expenses Strategy…………………………………………………………………………………………... 6 I. Product II. Price III. Place IV. Promotion Summary & Conclusion………………………………………………………………………….. 7 Executive Summary The purpose of this paper is to deeply explain the new product called, ‘Island Fruity’. According to the news, the little island of American Samoa is one of the top countries facing obesity. Recently this year on CBS News accorking to Ben Tracy (2013), the obesity rate I American Samoa is 75%. This is a big issue whereby our people’s lives are at risk and it is the reason as to why we chose to create a new product to help beat obesity. Like a smoothie or slushy, we have decided to create a new type of smoothie called ‘Island Fruity.’ By hearing these two words ‘island’ and ‘fruity’, it simply tells what the ingredients used for production are local grown fruits. Instead of buying groceries or add other imports, we chose to make use of all the available local fruits we have on island like the pawpaw, bananas, and pineapples to come up with a new product. this way, there will be an increase in savings, less in spending and able to achieve our goals. ‘Island...
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