Industry and market analysis for business plan - Essay Example

Industry and market analysis and SWOT analysis: Table of contents 0Introduction 3 2.0Private gyms versus Commercial gyms 3 2.1Average personal trainer salaries 3 2.2Average clients per trainer 4 2.3Membership 4 2.4Education 5 3.0Swot Analysis for Private, Commercial and sports performance gyms 5 3.1Strengths 5 3.2Weaknesses 5 3.3Opportunities 6 3.4Threats 6 4.0Top fitness apps and the most popular 6 4.1Market Analysis/ Swot Analysis 7 5.0Workout database 8 6.0Swot Analysis 9 1.0 Introduction A business plan ought to consider market analysis alongside industry analysis.

Review of these two elements is the key to any business triumph and should be carried out yearly since the business operates in a dynamic environment. The environment requires scanning to establish new avenues to be embraced so as to maintain relevance in the market as is experiencing changes daily, most of which may be unforeseen1. It’s wise to therefore direct the attention to potential markets rather than the one being serviced currently by the business. 2.0 Private gyms versus Commercial gyms 2.

1 Average personal trainer salaries Arguably, training for one hour in a commercial gym will approximately attract $80 which is not quite different from the charges attracted in private gyms. The reason behind this is that a considerable fraction of the cash is goes to the club as the trainer just receives a smaller fraction. The justification is that the trainers use the facilities of the club to train their clients. However, this contradicts the aspect that the same clients pay for their membership to the club thus the club benefit more from this2.

Nevertheless, the average salary for a personal trainer is higher in private gyms than in commercial gyms and personal trainers do not stay long in the former to acquire more skill to impart to their clients. The average pay per trainer in sport performance gyms may be higher compared to public gyms since they are more skilled thus improving efficiency and effectiveness of the service being offered. 2.2 Average clients per trainer Private gyms are geared towards quality and reputation in order to attain the envisioned client level.

To ensure efficiency and effectiveness in their service delivery to clients, the number of average clients attached to a specific trainer is reduced hence guaranteeing quality skills. On the other hand commercial gyms fail to view personal training as a noble profession. Their main objective is to increase their revenue with little regard to the nature of service offered. They hire part time trainers who are eventually get meager wages thus building on the mentality that the entire exercise is just another part time affair.

To increase education level, efficiency and effectiveness of the service on offer, the average number of clients in a sport performance gym is lower compared to public and private gyms. This offers specialized training to clients who are imparted with knowledge and skills. Few people translate to a better service. 2.3 Membership Commercial gyms have more room and space with more equipment so that they can accommodate more people unlike in private gyms which are squeezed of space with modicum facilities3.

Private gyms invest more in privacy and they don’t allow ordinary memberships. They also allow clients who are accompanied by their personal trainers thus they plan better and allocate slots appropriately thus controlling the number of clients in the gym at any given time. However, commercial gyms can be accessed in the wee hours of the night as they’re not used to controlling the number of people using their facilities at a time. They do not maintain much privacy and are mostly jam-packed with people to a point of queuing to access the service. 2.4 Education The trainers in the entire private, commercial and sports performance gyms require special training.

For instance, in private gyms the trainers ought to have a degree certificate alongside other certifications. Based by the country, the requirements may differ. In commercial gyms the certification may not be strict as they are geared towards profit regardless of the quality of service offered. Trainers in sports performance have more education and practical knowledge compared to others. 3.0 Swot Analysis for Private, Commercial and sports performance gyms 3.1 Strengths The staff that operate in most gyms are friendly and possess adequate know how.

The Trainers have skills as well as passion for their work4. These skills are subsequently imparted on the clients. The equipment available is advanced in order to offer the very best to the clients. Customers always benefit heavily from the quality training offered by using these facilities. 3.2 Weaknesses Customers are sometimes held back by the high fees required for membership thus the charges may not be within the affordability of some clients. This would cause discouragement and loss of motivation to new comers to this industry.

For a new gymnasium to attain brand loyalty entails a lot of investment on its name. The brand has to be established to get to a level of a household brand. 3.3 Opportunities The increasing interest to keep fit for the population is a great chance to be utilized. Many people are attracted to the gyms to gain body fitness alongside other benefits. Offering updated services would build on the name of a gym thus increase in revenues and general reputation that the gymnasium will derive benefits from for a long period of time. 3.4 Threats Gyms both private and commercial are dependent on the situation of the economy.

It’s this economy that depicts the disposable income of the population. In respect to this, a decline in the economy would impact negatively to their well being. There is also the threat of copy cat services that may be offered by independent trainers who would try their best to mimic what the best performing gyms are doing. 4.0 Top fitness apps and the most popular There are a number of fitness apps in the gym industry today. Some of these include the cycle meter, Endomondo Sports Tracker, Fitocracy, RunKeeper, MyFitnesPal and many more.

RunKeeper is the best of the fitness apps and it motivates fantastically. It has a recording for every runs completed and one can compare the pace achieved day after day. These fitness apps are becoming popular and successful because it is easier to manage the gadget to be consistent with one’s gym routine5. Many people would like such since having the appropriate apps can even make the routine better. Their effectiveness enables proper management of a person’s fitness program be it marathon or sticking to certain diet.

Conversely, these apps are machine dependent hence the over reliance to the gadgets dilutes innovation and creativity. 4.1 Market Analysis/ Swot Analysis One of the strengths of the foregoing phenomenon is that there is a result-driven approach that is geared towards the attraction and maintenance of clients. This makes the entire exercise popular. With the help of the apps the training offered to the staff is intensive and relevant. These strengths are weakened by the involvement of high costs occasioned by customization of personal services.

Additionally, to attract corporate clients is a costly undertaking thus a hindrance to the success of this affair6. There also several opportunities regardless of the weaknesses encountered. Some of these include; as the market grows, the need for more specialized and modern was of attaining personal fitness soar. This is an open window of opportunity to exploit towards increasing revenues. Moreover, the number of clients who have embraced corporate fitness is increasing consistently thus offering a chance to be maximized7.

The foregoing is not devoid of threats. Competition is encroaching this space day in day out. The proliferation of technology has led to the improvement of more fitness apps rendering the current ones obsolete. To upkeep to such technological advancements is a challenge. Worth noting also is the economic meltdown for which the industry has no immunity over. 5.0 Workout database Bicep workout This workout includes all the routines from the beginning to advanced levels. There are step by step routines designed to take place with specific times in weeks attached to each routine.

Several workouts are designed to achieve differing objectives at similar times8. For instance, a workout for muscle building can also assist in strengthening the body too. One ought to choose a goal that is of paramount importance and you can choose a workout based on the specific goal that you want to accomplish. The type of work out program is also vital to understand. Working various body parts on different time of the day is called split routine while full routine entails working the entire body9. 6.0 Swot Analysis Strengths The company concerned hires highly qualified staff with adequate skills The experience of the company owners is enormous more so in the fitness industry.

Trainers offer specialized training until all routines are completed successfully Weaknesses inadequate funds may inhibit proper budgeting for the club Few trainers may pose a challenge especially in large groups of people want to get the service. Opportunities The demand for fitness is soaring every day as more people want to keep fit for diverse reasons. Attending gym and health clubs is now becoming familiar even to those who had little regard to the same. There is still a large market that goes untapped.

The club can also target the low income earners as potential entrants to the fitness arena. Most diseases nowadays especially heart-related ailments and obesity are making it a necessity to seek fitness services. This is a great opportunity worth exploitation. Threats The economy is being challenged by recession and downturns every time and again thus retarding the growth of these clubs. The equipment for health care is now affordable and can be used in homes for exercise. Competition from other players in this industry who even charge less are making it difficult for small clubs to thrive.