Market Research 

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Having read through all the factors worth having when setting up a fitness centre, I do believe that it is so important to make the centre available to as much customers as possible. This at the end of the day will make me a healthy profit. I conclude that location is all important when setting up a business. The closer I have my business set up next to My Business Objectives My business objectives can be broken down into long term objectives and short term objectives. General business objectives are what the business wants to achieve. The most important objective is to make a profit, meaning receive more money than you put into the business.

Long Term Objective A long term goal is something that you plan to achieve in the future. For example you as a company set your self a target of becoming one of the market leaders before the year 2012. My long term business on the other hand is to become the most popular fitness centre in my competitive area before the year 2010. This I feel gives me an incentive to strive to get the best out of my business.

Short Term Objective A short objective is a goal you want to achieve in a shorter period of time. For example, I want to shift more than 67,000 CD’s before the end of the fiscal year. My short term objective will most obviously be about settling in to the market. It is to attract the attention of people and make them become aware of my business and I can tell this through the amount of membership cards that are taken. So I would want at least 100 gym members in my fitness centre in the first month.

Market Research  1) Is there a market for my fitness centre? Before I start my business I need to know whether there is a market for my fitness centre. I know that there are a lot of fitness centres just like my potential fitness centre. I already know that there are lot of people who want to exercise due to the growing worry of obesity. (This is information I have enclosed with market research.)

2) What is the competition for my market? The competition in my market lies in various market leaders such as York Gyms and Fitness First. My competition is pretty tough as they have been leaders for a long time and have a national awareness of their gyms.

3) What type of Customers will come to my gym? The type of customers that will come to my gym are people who simply want to lose weight or just to have fun in their recreational time. They are usually people who are in the middle class and above, this shown in my primary and secondary research.

4) What facilities should I provide for my customers? The facilities that I should provide for my customers should be up to date and easy to use, as people generally like that. My facilities should be of high quality and match, if not better those of my competitor.

5) What prices should I charge my customers? I should charge a reasonable price. My price should be in the same price range as my competitors, preferably cheaper than my customers. Interview with business person In order to enhance my knowledge of fitness centres and such I have conducted an interview with a representative for the company L.A gyms. I will questions from this type of person, because his knowledge of fitness centres and how they are run is far greater than mine.

Me: Good Morning, I will begin by asking what factors were in place when setting a fitness centre? Representative: “First and foremost it was whether or not people wanted or needed another fitness centre in their area and whether they would use it or not. Location played a big part in it, being close to a tube station really helped, because people can travel to the centre with a certain degree of ease.”

Me: How many people joined up on the first day? Representative: “To tell the truth, not many people joined up on the first day. As you would expect people were simply curious of what the centre had to offer, they were just assessing the place and asking “is this the right place for me?” It was basically an induction day for all. Me: What age group generally use your gym? Representative: “I would say mostly people in their mid twenties, but as you know this is generalisation, you do get the odd exception, for example we have a 72 year old member of our gym.”

Me: What does your centre offer to consumers? Representative: “Our centre caters a lot for the health and well being of our consumers. We offer swimming pools, all kinds of gym equipment, yoga classes and a safe playhouse for younger children. Also we have one of very few restaurants which boast a “Fat Free” menu.”

Me: How often do you advertise? Representative: “We don’t tend to advertise all too much, however we do appear in health magazines quite regularly, but we feel that we are well known as it is, and notice that a lot of other fitness centre’s don’t advertise too much as well.”

Me: What ways are there to join up? Representative: “There are a lot of ways to join up with L.A gyms, you can on the spot in a centre itself (on account you have identification), you can phone us and join, or join up online, which has proved to be quite successful. We like to keep registration broadly accessible for all.”

Me: Are there people employed to help or give support to consumers at the centre? Representative: “We employ a lot of people to give our consumers the best help and advice as they can get. We hire highly qualified personal trainers. We also have very well trained life guards, whom patrol the swimming pools at all times. We also have people who look after kids whilst parents use our facilities.”

Me: Do you get a lot of “Family Members” joining up? Representative: “We do get quite a lot of family members, the reason for this is that we boast playhouses for children under the age of 9 and multi sports gyms for children aged between 10 and 14. So our centre caters for a broad range of people.”

Me: Thank you very much for answering my questions. From conducting this interview I have learnt that successful centres and gyms a like usually cater for a broad age group. It is better to put extra “playhouses” and mini gyms for kids to play in as their parents use the facilities on offer. I have also learnt that the business starts slowly, like on the first day you are not expected to have a boom in the amount of people who want to sign up with you. You treat it more like a settling down period and a time to show off the various facilities of the centre. Collecting more data – Questionnaire I have decided to make up a questionnaire and make potential consumers and consumers of gyms a like to answer the questions. This way I have data on both sides of the business.

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