NEW BUSINESS PLAN

New Business Plan

[Instructor's Name]New Business Plan

Business Overview

Our business Get Smart is a fitness club that will provide complete assistance and guidance to its members. We will start the business in partnership. A fitness club is a facility that provides physical health care assistance to its members by using specialized equipment. It usually facilitates both female and male clients, but some health clubs provide special attention to females by providing clubs that are only for females. In these in fitness clubs, all staff including therapists and trainers is also females. Our fitness club Get Smart, will accommodate both male and female customers. The environment of our health club will be very pleasant and casual so that, members will feel comfort while doing bodybuilding and exercise.

Strengths and Core Competencies

Our major strength will be our low cost high quality service; we will charge a very nominal amount to our customers. Another competitive advantage of getting Smart fitness club will be its certified trainers and owner's dedication and commitment towards health and fitness services, due to which we will provide quality services.

Legal Structure of the Business

Our fitness club, Get Smart will start with a general partnership between two members; the biggest advantage of this partnership will be that we can concentrate even on the smaller aspect of the business. Another major advantage of this partnership will be easy availability of funds, because we two can jointly tackle all the formalities and requirements of obtaining a loan from the bank.

Marketing Plan

Target Market

Since health and fitness is essential for every one, our targeted market will consist of people from all age groups and gender. Our main fous will be over the individuals suffering from over weight, obesity, heart diseases, diabetes, etc.

Seasonal trends in Industry

The fitness and health clubs run smoothly throughout the year as they are not affected by the season.

Value Proposition

State of the art facility with the newest equipment from superiority manufacturers inexpensive with monthly, quarterly, and annual subscription plans. Initial our charges would be as low as $200 for basic health and fitness training. Individual certified trainers to help the members in achieving desired results without killing much time.

Branding

Get Smart will produce their official website for creating a brand and company representation in the market, as well as given that subscription online.

Financial Plan

Projected Financial Plan

Financial requirements for starting Get Smart are summarized below;

Sources of Capital

We will finance our business through bank loans.

Initial Investment Requirement

$900,000.00

Total investment

$900,000.00

Startup Expenditure

Development of Get Smart

$350,000.00

Staff

$300,000.00

Capital Expenditure

$140,000.00

Consulting Service

$80,000.00

Advertisement and Promotion

$4,000.00

Total Startup Expenditure

$874,000.00

Financial Budget Projections for One Year

Revenue Forecast

Through effective advertisement and promotion, it is expected that during one year Get smart will gain 25,000 customers and its revenues will be $ 1,225,000.

Profit and Loss Projections

Sales (Revenue)

$ 1,225,000.00

Operating Expenses

Development of Get Smart

$ 350,000.00

Staff

$ 300,000.00

Capital Expenditure

$ 140,000.00

Consulting Service

$ 80,000.00

Advertisement and Promotion

$ 4,000.00

Total Operating Expenses

$ 874,000.00

Interest Expense (7%)

$ 63,000.00

Profit Before Taxes

$ 288,000.00

Taxes (10%)

$ ...