Development of Business - Beach Bum Gym - Thesis Example

The major strategy for Beach Bum Gym will be to provide customers with the unique experience of a workout as it will offer both outdoor and indoor gym facilities. It will provide exclusive services to the customers by expert trainers. Furthermore, the cost of the services will also be attractive to customers. Beach Bum Gym will simply target the young and adult customer segment within the age group between 16 to 34 years. It is expected that the gym will gain significant profit and sales in due course of its operations. The management team of the business will consist of managers, instructors, security personnel, and receptionists who will help to run and to manage the club operations effectively. It is expected that to business almost US$ 635,00 will be required as start-up a fund. The major competitive advantages of the gym will be its locational advantages, inexpensive membership fees, and attractive workout atmosphere.      

Gym i.e. fitness and health industry is one of the fastest fastest-growliness in the United States. In recent years, this industry has displayed considerable progress in terms of revenue and memberships. According to the data of ‘The International Health, Racquet & Sports club Association’ the revenue of gym clubs in the US had increased by 5% to US$ 21.4 billion in the year 2011 than the previous year. The number of memberships has also augmented by 2.4% to 51.4 million in 2010 (South University, 2011). As stated by IBIS World, the demand for gyms, fitness, and health clubs will increase in the upcoming days and people are becoming more conscious about maintaining a healthy lifestyle and focusing more on staying fit (IBISWorld, 2012). Due to the obesity-related influences in the US, fitness and weight loss have gained increased popularity. In the year 2009, the number of gym clubs was 26830 which had increased to 29960 in 2011 (South University, 2011).

Considering the industry attractiveness, the business plan is proposed for developing a gym club named ‘Beach Bum Gym’. The club will be located in the beach area of Hampton, US, and will provide workout and gym facilities to the people. Although the industry is lucrative, it is a highly cyclical and competitive business and thus, Beach Bum Gym has to compete with other health and fitness clubs in the Hampton area.                  

Beach Bum Gym will have different products and services for people. The products of the gym would be divided into three categories i.e. nutrition products, fitness products, and gym accessories.