-12704163695-1270635
Assignment instructions:
-12704163695-1270635
Breane Hague
Hague Health & Fitness
xxxxxxxxABN: xxxxxACN: xxxxx
Hague Health & Fitness
Business Plan
Prepared: 8/11/2022
Business Plan Executive Summary
[Please complete this page last]
[Your business summary should be no longer than a page and should focus on why your business is going to be successful. Your answers below should briefly summarise your more detailed answers provided throughout the body of this plan.]
The BusinessBusiness name: [Enter your business name as registered in your state/territory. If you have not registered your business name, add your proposed business name.]
Business structure: [Sole trader, partnership, trust, company.]
ABN: [Registered Australian business number.]
ACN: [Registered Australian company number, if applicable.]
Business location: [Main business location]
Date established: [The date you started trading.]
Business owner(s): [List all of the business owners.]
Relevant owner experience: [Briefly outline your experience and/or years in the industry and any major achievements/awards.]
Products/services: [What products/services are you selling? What is the anticipated demand for your products/services?]
The MarketTarget market:
[Who are you selling to? Why would they buy your products/services over others?]
Marketing strategy:
[How do you plan to enter the market? How do you intend to attract customers? How and why will this work?]
The FutureVision statement:
[The vision statement briefly outlines your future plan for the business. It should state clearly what your overall goals for the business are.]
Goals/objectives:
[What are your short & long term goals? What activities will you undertake to meet them?]
The Finances[Briefly outline how much profit you intend on making in a particular timeframe. How much money will you need up-front? Where will you obtain these funds? What portion will you be seeking from other sources? How much of your own money are you contributing towards the business?]
The BusinessRegistration detailsBusiness name: Hague Health and Fitness
Location(s) registered: Australian Capital Territory
Business structure: Sole trader
Licences & permits:
ACT public land use permit
Management & ownershipNames of owners: Breane Hague
Details of management & ownership: [As the owner(s), will you be running the business or will a Chief Executive Officer (CEO) be running the business on your behalf? What will be your involvement? If it is a partnership briefly outline % share, role in the business, the strengths of each partner and whether you have a partnership agreement/contract in place?]
Experience: [What experience do the business owner(s) have? How many years have you owned or run a business? List any previous businesses owned/managed. List any major achievements/awards. What other relevant experience do you have? Dont forget to attach your resume(s) to the back of your plan.]
InsuranceWorkers compensation: xxxxxxxxPublic liability insurance: xxxxxxxxxxxProfessional indemnity: xxxxxxxxxxProduct liability: xxxxxxxxBusiness assets: xxxxxxxxxxxBusiness revenue: xxxxxxxxxxx
Legal considerations
Breane Hague is a qualified personal trainer, holding a Certificate III in Fitness (SIS30315) and Certificate IV in Fitness (SIS40215). Breane Hague is also registered with the Fitness Australia association and follows industry best practice, protocols and guidelines.
Hague Health & Fitness will have the following agreements/disclaimers in place:
Client services agreement
Liability for injury
Limitations and guarantees
Cancellation and refund policy
Website terms of use
Privacy policy
Hague Health & Fitness will comply with the code of practice set out in the Fair Trading (Fitness Industry) Code of Practice 2009 Australian Capital Territory act.
The MarketMarket Trends
-1155701109980Personal Trainers in Australia - Market Size 20082022 (https://www.ibisworld.com/au/market-size/personal-trainers/)
Personal Trainers in Australia - Market Size 20082022 (https://www.ibisworld.com/au/market-size/personal-trainers/)
The fitness training industry in Australia has experienced consistent growth over the last decade, due to rising health awareness and growing health issues due to aging populations and increasing sedentary lifestyles. Obesity and other heath issues are expected to continue to increase over the next few years, providing an opportunity for fitness industry businesses to be in demand. Recent global events saw online fitness training rise in popularity and it is now an established option for consumers to access health education and coaching around the world (Ibisworld.com, upmetrics.co)
Target Market
The business target market encompasses all individuals looking for professional online or in person fitness training to help achieve their health and fitness goals. The distribution includes:
Working professionals
Home makers
Elderly
Students
Sports professionals/althetes
S.W.O.T. analysisStrengths Weaknesses
Experienced personal trainer with 2 years experience working face to face with clients.
The business will offer flexible training programs and flexible options to suit client availability and schedules.
Offers evidence-based, quality coaching services backed by continual research and learning.
High costs and limited availability of private gym facilities.
Lack of market visibility.
Online fitness coaching is still relatively a new market and relies on social media trends.
Opportunities Threats
Increasing interest and awareness in improving fitness and health.
Increasing number of individuals wanting specialised health and fitness coaching programs.
Online market offers expanding global reach.
High market competition and increasing fitness businesses exploring online market.
Future economical and epidemic health concerns leading to closure of fitness establishments, difficulty entering the market and less consumers able to access services.
Increasing online health and fitness content available for free may erode market share
Your competitorsHague Health and Fitness is expected to have the following competitive advantages over the competition:
There is not good quality personal trainer services provider in the area and there is a very good opportunity on that front.
Businuesses currently providing these services in the area are expensive and are charging way more than what their services are worth.
Hague Health and Fitness will provide experienced and skilled personal training layered with human centred design services and a background in psychology.
Competitor details
Competitor Established date Size Value to customers Strengths Weaknesses
Ahern Fitness Not provided Multiple personal trainers - number not provided Small/private boutique studio for no more than 10 people to be working out at one time. Owner is a triple Olympic champion
Multiple levels of service packages offered depending on client needs
Connected with trusted physiotherapists
Flexible online exercise programs/coaching offered.
Weak social media presence
No education or advice offered on their website
Only 1 service level offered that includes consultation/check ins and its expensive
Dont appear to provide nutrition guidance.
No information provided on who the personal trainers are.
Alex Thornton 2020 1 Offers military based practices and works as a researcher in health & nutrition on the side. Nutrition specialist
Military background/experience
Offers group training
Offers online training
Offers free initial session
Weak social media presence
Website slow and clunky, hard to navigate
Last educational post on website was 2020
Only 2 testimonials on website
Products and Services
Hague Health and Fitness provides personalised individual and group fitness and health coaching at affordable prices. Services will vary on scope and length, including consultations, group and one-on-one instruction, exercise programs and nutrition guidance. Here are the main services Hague Health and Fitness will be providing:
Exercise instruction and demonstration: Group or one-on-one training sessions with the personal trainer providing instruction and demonstration throughout the training sessions.
Fitness and health consultation: Individual consultation with the personal trainer to provide education, guidance and motivation and accountability on the clients health goals.
Personalised exercise programs: customised exercise programs developed by the personal trainer for clients goals, including ongoing consultation and check-ins with the personal trainer.
Nutrition guidance: the personal trainer will help individuals plan and monitor daily nutrition and food intake to suit their goals and preferences. Meal guidance and ongoing monitoring and consultation will be provided.
Marketing Plan
Marketing goals and objectives
The business will implement a two phased marketing plan in order to reach its target market and encourage potential clients to begin their health and fitness transformation.
The goal is to attract an initial target of 5 new clients per month with an 80% retention goal. The business will first offer discounts and free trials of coaching and training services, and then utilise social media and other digital marketing platforms to attract clients and promote services.
SWOT analysis of the product/s and/or service/s
Strengths Weaknesses
Services are provided by experienced personal trainer with 2 years experience working face to face with clients.
The services include flexible training programs and flexible options to suit client availability and schedules, with a range of communication options.
Coaching and advice is evidence-based, and backed by continual research and learning.
Currently no private gym facility available outdoor, clients home or gym membership required for face-to-face coaching services.
Online fitness coaching is still relatively a new market and clients may be reluctant to sign up for that service.
Currently weak online and social media presence to leverage digital marketing strategies.
Opportunities Threats
Increasing interest and awareness in improving fitness and health.
Increasing number of individuals wanting specialised health and fitness coaching programs.
Online market offers expanding global reach.
High market competition and increasing fitness businesses exploring online market with similar services.
Future economical and epidemic health concerns leading to closure of fitness establishments, difficulty entering the market and less consumers able to access services.
Increasing online health and fitness content available for free may erode market share.
Pricing structure identified
Exercise instruction and group fitness training $50 per hour face to face (individuals)
$20 per hour face to face (groups above 3)
$40 per hour online (individual only)
Fitness and health consultations $45 per hour online or face to face (individuals only)
Personalised exercise programs $65 per week face to face (individuals only)
$55 per week online (individuals only)
Nutrition guidance $20 nutrition guide
$30 per week nutrition check ins and ongoing advice
Promotional activities
Website launch website to provide information about products and service and be a source of promotional materials
Email compiling attractive market materials, featuring Hague Health and Fitness services to be sent as promotional emails to prospects
Feedback - create feedback loop with clients to gauge progress and trends and meet demands
Social media presence create social media platforms to provide education and promote the business activities and services.
Digital marketing
The business will reach customers through digital channels as well as offline channels. The business will leverage social media advertising campaigns, email marketing strategies, networking in community, and creating awareness through articles and publications in popular industry media.
Hague Health and Fitness will email professionally designed materials with business values and promote services and prices.
As the general population spend a considerable amount of time on social media platforms, reaching consumers via these channels will be an effective way to draw attention and potential clients. Hague Health and Fitness will create social media accounts to share information about health and fitness and the businesss services.
Hague Health and Fitness may benefit from utilising Google ad campaigns by targeting specific keywords relevant to the business service offer.
Marketing mix determined according to market and business needs.
Marketing Mix
Product
Exercise and nutrition coaching
Individual or group
Face to face or online
Home or gym-based programs
Personalised to individual needs and preferences
Suitable for all demographics, experience levels and goals
Flexible options for clients schedule and communication preferences. Price
Free trials available
Pay as you go or monthly
Flexible cancellation policy
Discounts offered for larger groups and referrals
Exercise class $50/$20 (pp/ groups>3) or $40/$10 online
Consultations $45 p/h
Personal training $65 p/w face to face or $55 p/w online
$20 nutrition guide, or $30 p/w nutrition program
Place
Services and products sold via the Hague Health and Fitness website direct to the customer
Links to the website hosted on social media accounts and email blasts. Promotion
Dedicated website landing page
Email blasts to mailing list
Social media advertising (Facebook, Instagram)
Referrals
Evaluation and performance monitoring
Increasing percentage of returning consumers
Increasing percentage of referrals
Website traffic increases
Ask website visitors where they heard about the business
Ask clients signing up where they heard about the business
Sum of total clients over time
Analysing time of client sign-ups against discount offers and email promotions
Analysing email marketing metrics open rate, click-through rate, conversion rate.
Budget
Marketing Budget
Promotion strategy Estimated costs per month
Website set up (one time cost) $3000 (one off cost)
Website ongoing maintenance $55
Basic website analytics No cost
Email marketing software $100
Email list $200
Email marketing platform $10
Newsletter design $500 (one off)
Social media content No cost
Social media advertising TBD from leftover funds
Total first month: $3865
Total subsequent months: $365
Operations Plan
Production process
[What is the process involved in producing your products or services. This process will vary depending on your product or service. Here are some examples of questions you may consider. Is there a manufacturing process? Who is involved in the process? Are there any third parties involved? What is involved in delivering the service to your customers?]
Plant & equipment
[List your current plant and equipment purchases. These can include vehicles, computer equipment, phones and fax machines.]
Equipment Purchase date Purchase price Running cost
Personal Computer [eg. 20/03/2010] [e.g $2100] [e.g $100 a month]
Webcam [eg. 20/03/2010] [e.g $2100] [e.g $100 a month]
Video Camera [eg. 20/03/2010] [e.g $2100] [e.g $100 a month]
Misc recording equipment (for content creation) [eg. 20/03/2010] [e.g $2100] [e.g $100 a month]
Basic exercise equipment for group classes (kettbells, sandbags, medicine balls, yoga mats, resistance bands) Technology (Software): [What technology do you require? For example: website, point of sale software or accounting package? What will be the main purpose for each? Will they be off-the-shelf or purpose built? What is the estimated cost of each technology solution?]
Trading hours: [What are your trading hours? What are your expected peak trading times? Which times do you expect to be more profitable? How will this change over different seasons? How do your trading hours accommodate these changes?]
8-8pm
Communication channels: [How can your customers get in contact with you? These channels can include: telephone (landline/mobile), post box, shopfront, email, fax, internet blog or social media channel.]
Email, mobile, social media channels
Payment types accepted: [What payment types will you accept. cash, credit, cheque, gift cards, Paypal etc]
Credit policy: [What is your credit policy for customers/suppliers? How long is the credit period? What are your collection strategies/procedures? What credit does your business receive? What are the terms?]
Warranties & refunds: [If you manufacture certain goods, what are the warranty terms? What is your business refund/exchange policy?]
Quality control: [Describe your quality control process. What checks or balances do you have in place to ensure the product or service you offer is produced to the same standard of quality? What steps do you take to meet product safety standards?]
Memberships & affiliations: [Is your business a member of any particular industry association or club? Do you have any affiliations with any other organisation?]
Management Team
Sole trader Breane Hague
Action plan
Milestone Date of expected completion Person responsible
[What are the business milestones that you need to complete starting from today?] [When do you expect to complete them?] [Who is responsible for delivering this milestone?]
[What are the business milestones that you need to complete starting from today?] [When do you expect to complete them?] [Who is responsible for delivering this milestone?]
[What are the business milestones that you need to complete starting from today?] [When do you expect to complete them?] [Who is responsible for delivering this milestone?]
[What are the business milestones that you need to complete starting from today?] [When do you expect to complete them?] [Who is responsible for delivering this milestone?]
The Finances
Key objectives & financial reviewFinancial objectives
[List your key financial objectives. These can be in the form of sales or profit targets. You could also list your main financial management goals such as cost reduction targets.]
Finance required
[How much money up-front do you need? Where will you obtain the funds? What portion will you be seeking from loans, investors, business partners, friends or relatives, venture capital or government funding? How much of your own money are you contributing towards the business?]
AssumptionsThe financial tables on the subsequent pages are based on theassumptions listed below:
[List your financial assumptions. These can include seasonal adjustments, drought or interest rates etc.]
Start-up costs for [YEAR][Double-click the table below to enter your details or attach your own start up costing sheet at the back of this business plan.]
Balance sheet forecast[Double-click the table below to enter your details or attach your own profit & loss sheet at the back of this business plan]
Profit and loss forecast[Double-click the table below to enter your details or attach your own profit & loss sheet at the back of this business plan]
Expected cash flow[Double-click the table below to enter your details or attach your own profit & loss sheet at the back of this business plan]
Break-even analysis[Double-click the table below to enter your details or attach your own table. Refer to the Business Plan guide from www.business.gov.au/businessplan for the calculations.]
