MANAGING FINANCIAL

Managing Financial

Managing Financial

Part A

Business Concept

ABC Fitness Club and Child Care is in the fitness or gym industry, which is an industry that fluctuates year-to-year. And we know that some believe that the money spent on the service is “disposable income,” but the philosophy is that fitness should be important to everyone. ABC Fitness Club and Child Care intend to heavily market this attitude and also the care of the children for the people who do not want to leave their children at home while they are at work or they are in the gym. In addition to this, the company knows that the company honors its philosophy by offering fitness services in gym while the differentiating factor that is child care facility.

ABC Fitness Club and Child Care have shifted from mere efficiency to innovation and from scale magnification to creation of value; hence, ABC Fitness Club and Child Care intends to be oriented towards the strategic employment of human resources. As it is, strategic human resources management practices improve and develop worker productivity and the capacity of business firms to achieve their objectives by integrating these personnel practices into the strategic planning process. Combining effective HR practices all centered on the attainment of organizational goals and objectives have a substantial affect on the eventual success of the business enterprise. ABC Fitness Club and Child Care should believe that its employees need to be highly motivated. ABC Fitness Club and Child Care will be located in the downtown and can be accessible by all routes. It will be in the heart of the city which makes its accessibility, an ideal factor (Bates, 2008, pp. 26-49). In addition to this, the equipment will be procured from Germany and consists of high end machinery including sauna set ups and elliptical machines etc. which are some of the rarest of the kind.

Analysis of the Opportunity and Environment

Before mounting a gym and child care, it is essential to know where to find the nearest gym facility, as well as their pricing and services. It is also more convenient to approach local councils and consultation in the urban plans if they are to build more public facilities in the area over the next five years. It is also recommended around the neighborhood to detect existing private facilities and meet your offer, the target market and trade policy, in order to differentiate them with greater assurance.

It is recommended to observe the reaction of the market and be willing to change if necessary, but calmly, and insisting on the competitive advantages. In a free market, competition among firms is constant, but while it remains within an open framework, which takes more skill, capital or skills to succeed (McDaniel, 2008, pp. 28-34).

Business Model

There are definite steps to take in account when opening the health club. The first thing to take in account is considering the start-up costs. Opening the fitness club implicates lots of costs, like the acquiring of health club outfit, a building ...