BRIAN DANLEY. EXECUTIVE SUMMARY BUSINESS CHARACTERISTICS: Target market: age 50+ adults Convenient...
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Transcript of BRIAN DANLEY. EXECUTIVE SUMMARY BUSINESS CHARACTERISTICS: Target market: age 50+ adults Convenient...
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BRIAN DANLEY
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EXECUTIVE SUMMARY
BUSINESS CHARACTERISTICS: Target market: age 50+ adults Convenient in-home fitness training Experienced ISSA-certified trainers Very affordable rates beginning at
$80/session
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INTRODUCTION
20% of older adults have chronic disabilities
38% of older adults are sedentary Many older adults lack knowledge
of how to perform physical activities
(Source: NIA, 2006)
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COMPANY DESCRIPTION
SPECIFIC SERVICES OFFERED: Fitness and wellness Stability ball exercises Managing and preventing back
pain Weight loss Safe strength training
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MISSION STATEMENT
“Our company aims to help older adults to better their health by reducing the onset of chronic illness and enhance general well-being and functional abilities throughout their lives.”
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COMPETITOR ANALYSIS
In-home training is virtually untapped market
Primary competitors: YMCA/YWCA
1. Loyal membership2. Wide variety of programs
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SWOT ANALYSIS
STRENGTHS:1. Experienced personal trainers2. ACSM exercise programs utilized3. Nutritional consultations4. Trainer comes to your fitness
facility5. Affordable session fee rates
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SWOT ANALYSIS (cont)
WEAKNESSES:1. Only five personal trainers on
staff2. Personal transportation costs
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SWOT ANALYSIS (cont)
OPPORTUNITIES:1. Expected large demand for in-
home training2. Lucrative market
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SWOT ANALYSIS (cont)
THREATS:1. Competing with non-profit fitness
franchises (ie. YMCA)2. Lack of variety of fitness
equipment
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TARGET MARKET ANALYSIS
Older adult 50+ years of age
Motivators to exercise:1. High cost of prescription medications2. Obesity epidemic3. Health-care cost savings4. Disposable income5. Increased available time
(Source: Valenzuela, 2002)
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TARGET MARKET ANALYSIS (cont) Motivators to exercise:6. Accessibility of fitness facility7. Desire to maintain functional
abilities8. Desire to maintain independent
lifestyle9. Desire to increase quality of life10. Healthcare insurance
incentives/rewards(Source: Valenzuela, 2002)
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TARGET MARKET ANALYSIS (cont)
Motivators to exercise:13. Desire to reduce onset of
chronic disabilities14. Never too late to begin15. Sedentary behavior
detrimental to health(Source: Valenzuela, 2002)
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TARGET MARKET ANALYSIS (cont)
Expansive and lucrative market share Each day for next 20 years 11,000 baby
boomers will turn 50 years of age (Davis, 2002)
2000: 35 million adults 65+ years of age 2030: 70 million adults 65+ years of age
(NIA: 2006)
About 34% adults 50+ years of age are sedentary (CDC: 2001)
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FINANCING
START-UP COSTS: Licensing/Permits/Legal
Sales permit Business license Legal counsel
Liability insurance Injury lawsuits
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FINANCING (cont)
3-MONTH PROJECTION EXPENDITURES: Legal fees Transportation Communication Advertising
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FINANCING (cont)
Communication Nextel
8 handheld 2-way radios Radios are $99 each Plan is $59.99/mo Activation fee is $12.50 each
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LEGAL
Documents Partnership Filings Employer Identification Number (EIN) Permits/Licensing Tax Information
Income tax Employment tax Forms
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MARKET OBJECTIVES
Target adults 50+ years of age via flyers, business cards and media ads
Provide fitness training services at gyms where older adults reside
Charge non-negotiable per session fee of $80 to be paid in advance
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MARKETING STRATEGIES AND TACTICS Determine older adult
residence locations 1. DMV2. Real estate agencies3. Online census data4. Professional marketing firms5. AARP listings
(Source: Echmann, 1998)
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MARKETING STRATEGIES AND TACTICS (cont) Determine availability of gyms Post company flyers1. Residential offices2. Local grocery stores3. Libraries4. Churches5. Hospitals6. Post offices (Source: Echmann, 1998)
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MARKETING STRATEGIES AND TACTICS (cont)
Provide business cards1. Local restaurants2. Hair/nail salons3. Senior/community centers4. Country clubs5. Diet/nutrition centers
(Source: Echmann, 1998)
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MARKETING STRATEGIES AND TACTICS (cont)
Place ad in Mercury News Create online business profile
webpage Network with AARP, Golden
Kiwanis, and Rotary Clubs
(Source: Echmann, 1998)
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SUMMARY
In-home personal training1. Convenient2. No hassle with traffic3. Increase functional abilities4. Reduce onset of chronic
disabilities