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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 Loyal membership Wide variety of programs
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SWOT ANALYSIS STRENGTHS: Experienced personal trainers
ACSM exercise programs utilized Nutritional consultations Trainer comes to your fitness facility Affordable session fee rates
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SWOT ANALYSIS (cont) WEAKNESSES: Only five personal trainers on staff
Personal transportation costs
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SWOT ANALYSIS (cont) OPPORTUNITIES:
Expected large demand for in-home training Lucrative market
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SWOT ANALYSIS (cont) THREATS:
Competing with non-profit fitness franchises (ie. YMCA) Lack of variety of fitness equipment
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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)
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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)
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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)
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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 DMV Real estate agencies Online census data Professional marketing firms AARP listings (Source: Echmann, 1998)
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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)
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MARKETING STRATEGIES AND TACTICS (cont)
Provide business cards Local restaurants Hair/nail salons Senior/community centers Country clubs 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 training Convenient No hassle with traffic
Increase functional abilities Reduce onset of chronic disabilities
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