An evaluation of the feasibility of establishing an affordable gym in Cardiff
University of Wales Institute Cardiff
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The project’s aim was to assess the health and fitness industry and the feasibility of an affordably priced gym. The project centres on whether an affordably priced gym could be set up and maintained through its lifecycle. An evaluation of literature on the industry and academia on business, government incentives evaluates the impact on society’s opinions and habits. Research assessed habits and use of sporting facilities, trends for future use and effects on the industry. Results from 75 questionnaires provided insights into pricing, spending habits and consumer priorities when joining a gym. Competitors in the area were interviewed to assess the market and gain understanding of the industry and costs involved. The executive summary will indicate the potential for success. The summary then discusses viability. The business plan details the product and service offered, market research results, marketing strategies, staffing and financial forecasts. It demonstrates the potential for future growth and how the author proposes to achieve such a goal. Legal aspects researched gave a further understanding of initial and later requirements. SWOT and PESTEL analysed internal and external environments and affects on the business. A discussion and analysis critically evaluates the planning processes, data collection methods and production of the business plan. It will provide recommendations for improvements and finally concludes by demonstrating whether the original aims and objectives have been addressed and met.
BA Enterprise Project