BRIAN DANLEY
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
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)
COMPANY DESCRIPTION SPECIFIC SERVICES OFFERED: Fitness and wellness Stability ball exercises Managing and preventing back pain Weight loss Safe strength training
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.”
COMPETITOR ANALYSIS In-home training is virtually untapped market Primary competitors: YMCA/YWCA Loyal membership Wide variety of programs
SWOT ANALYSIS STRENGTHS: Experienced personal trainers ACSM exercise programs utilized Nutritional consultations Trainer comes to your fitness facility Affordable session fee rates
SWOT ANALYSIS (cont) WEAKNESSES: Only five personal trainers on staff Personal transportation costs
SWOT ANALYSIS (cont) OPPORTUNITIES: Expected large demand for in-home training Lucrative market
SWOT ANALYSIS (cont) THREATS: Competing with non-profit fitness franchises (ie. YMCA) Lack of variety of fitness equipment
TARGET MARKET ANALYSIS Older adult 50+ years of age Motivators to exercise: High cost of prescription medications Obesity epidemic Health-care cost savings Disposable income Increased available time (Source: Valenzuela, 2002)
TARGET MARKET ANALYSIS (cont) Motivators to exercise: Accessibility of fitness facility Desire to maintain functional abilities Desire to maintain independent lifestyle Desire to increase quality of life Healthcare insurance incentives/rewards (Source: Valenzuela, 2002)
TARGET MARKET ANALYSIS (cont) Motivators to exercise: Desire to reduce onset of chronic disabilities Never too late to begin Sedentary behavior detrimental to health (Source: Valenzuela, 2002)
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)
FINANCING START-UP COSTS: Licensing/Permits/Legal Sales permit Business license Legal counsel Liability insurance Injury lawsuits
FINANCING (cont) 3-MONTH PROJECTION EXPENDITURES: Legal fees Transportation Communication Advertising
FINANCING (cont) Communication Nextel 8 handheld 2-way radios Radios are $99 each Plan is $59.99/mo Activation fee is $12.50 each
LEGAL Documents Partnership Filings Employer Identification Number (EIN) Permits/Licensing Tax Information Income tax Employment tax Forms
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
MARKETING STRATEGIES AND TACTICS Determine older adult residence locations DMV Real estate agencies Online census data Professional marketing firms AARP listings (Source: Echmann, 1998)
MARKETING STRATEGIES AND TACTICS (cont) Determine availability of gyms Post company flyers Residential offices Local grocery stores Libraries Churches Hospitals Post offices (Source: Echmann, 1998)
MARKETING STRATEGIES AND TACTICS (cont) Provide business cards Local restaurants Hair/nail salons Senior/community centers Country clubs Diet/nutrition centers (Source: Echmann, 1998)
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)
SUMMARY In-home personal training Convenient No hassle with traffic Increase functional abilities Reduce onset of chronic disabilities