I am a fitness enthusiast who derives joy and gratification seeing other people accomplish their body goals. Lifestyle diseases are on the rise because of the type of food products people are consuming today. Besides, low physical activity, poor dietary choices, and limited sleep are some of the factors that promote obesity and other related health conditions in the U.S. and beyond. From this realization, aligning these objectives with a business mindset can easily become a profitable venture because of the increasing desire among individuals to embrace fitness programs. Therefore, this paper will focus on my interests and explore the best approach that can be used to yield favorable outcomes.
What are the approaches a fitness company should use to accomplish its goals and objectives in the business environment?
Reason for my Choice
Apart from the increased market demand for business management graduates, the course exposes individuals to a competitive earning potential that allows them to accomplish their desired milestones. In the same vein, I was intrigued by the flexibility of the course whose principles can be applied in multiple fields ranging from health care and fitness to manufacturing. Every sector requires a business management professional who can predict the future by analyzing ongoing activities in the market and make effective decisions that equip firms with a competitive edge over other industry players.
I am a fitness enthusiast who loves exposing individuals to an environment where they can regain their self-esteem after achieving their desired body goals. I was overweight at some point in my life but I was guided by a fitness professional who enabled me to regain control over my body. Owning a fitness company will not only allow me to follow my dreams but will also introduce me to a business opportunity that will generate revenue.
Since I cannot do all work by myself, I will consult widely to identify partners who can help me accomplish my dream. I will engage interior and structural designers who will enable me put up a facility that appeals to different population groups. Likewise, I will develop a business plan, which will steer my fitness company towards different market opportunities that can be exploited to yield favorable outcomes in the corporate world.
Interview with Major-Students
My interactions with other students pursuing business management as their major exposed me to a wide range of business opportunities that individuals can use to accomplish their desired goals and objectives. In many instances, individuals are motivated to engage in business because of the profit that rewards their efforts. From this observation, I realized the corporate world was considered the most-safest approach because of its ability to guarantee a steady income compared to the entrepreneurship path, which is filled with uncertainty. However, I was intrigued by one student who had opted to pursue photography as a business, complete with a physical studio and editing suite. She had managed to garner traction based on the quality of her work, which caught the attention of the corporate world. While she is the brains behind her photography business, she has engaged several collaborators who handle various sides of her business such as client and investor relations, marketing, and social media management.
It should be noted that I will not be the first person to own a fitness company, as there are many health clubs in the community. However, I intend to incorporate certain cutting-edge features, which will equip my firm with a competitive edge over other industry players. The fitness company will have a stand-by nutritionist, physician, and a medical doctor, who will respond to the various unwanted outcomes that affect the ability of individuals to meet their fitness goals. While the primary focus is exposing individuals to an environment where they can increase their physical activity, the firm will incorporate medical expertise to lower the chances of injury due to wrongful approaches when exercising. I intend to secure a sizeable location where people can engage in different activities such as running, swimming, and boxing among the conventional forms of exercising that can be found in a fitness facility. This way, I will create a loyalty program that enhances the thought process of individuals by exposing them to an environment where they can achieve their desired goals.
Projected Yearly Income
Depending on the initial investment directed towards the fitness company, I will work towards breaking even within three years of operation. The global fitness industry was valued at $96.7 billion in 2020, with more than 180 million individuals enrolled in gym memberships. In this regard, my gym membership will be capped at $1,000 in a year, with an initial target of 100 members. This will loosely translate into $100,000 in annual return. However, I can encourage my marketing team to add two new members every week to generate $152,000 within the first year of operation. Following the expansion of the fitness corporation, the revenue can even be increased through strategic collaborations with community centers and investors.
I watched the steps issued by a YouTube channel called Marketing Fitness 101, which offers a range of insights that businesses can use to expand their revenue streams in the fitness industry. Importantly, the speaker demonstrated how the business model should digress from the conventional money-making tactics and create meaningful relationships with the community to increase the average foot traffic every day.
I reviewed Wynwood Women in her presentation about how fitness companies should embrace more body positivity during their interactions with potential clients. While the business aspect ensures the firm generates more income, embracing Wynwood’s views will equip the facility with a competitive edge that influences the thought process of individuals when exposed to the larger fitness market.
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Professional Trade Associations
The International Health, Racquet, and Sportsclub Association (IHRSA), Club Industry, and the American College of Sports Medicine (ACSM) are some of the professional organizations that regulate operations and outcomes in the sports industry. Hiring ACSM certified gym instructors not only safeguards trainees from incurring injuries while working out but also equips a facility with the much-needed level of professionalism, which influences the outcomes in the contemporary society. From this realization, the fitness business will incorporate the regulations and directives issued by the professional trade associations to remain operational without encountering any regulatory issues.
Trade Association Membership
The student membership at ACSM is $10, making it affordable for everyone interested in pursuing fitness as a career. Besides, one is exposed to additional benefits after the registration, which enable him to accomplish the desired goals and objectives expected in the fitness industry.