Running head: Business Model and Strategic Plan Part II Business Model and Strategic Plan Part II: SWOTT Analysis Paper Jeannie Gilmore BUS/475 June 29, 2015 Maria Rutledge 1 Business Model and Strategic Plan Part II 2 Anytime Fitness SWOTT for Online Virtual Personal Training Strengths Anytime Fitness have many resources to build on and ensure that implementation of the new division goes smoothly. Anytime has Locations in North America, South America, and Canada, and with the new division they have a convenient service that will be attractive in many more countries, which will help them globalize the company. Consumers has less time to exercise or eat healthy because the state of the economy, but This is why the online personal trainer program can be a life changer for those who desire a healthy lifestyle because customers can conveniently participate world class top quality workouts in the comfort of their home. Anytime Fitness strategy focuses on marketing the division service on websites that are heavily populated with consumers such as Google and Yahoo, and also targeting popular social media sites like Facebook and Twitter. Weakness With the program being able to operate at a consumer house, it takes away the social aspect that many gym members do enjoy such as meeting new people and receiving hands on training. Other companies have some of the same capabilities that Anytime possess and have been utilizing the internet for personal training already Opportunity This new division gives Anytime Fitness a chance to expand globally. The technology of the program makes the company a leader in innovation in its industry. The new division allows the business to achieve its goals of providing consumers with convenient, affordable, and fun products and services. Threat Trend There are companies that will possibly claim that the new division is their intellectual property, however although there are many similarities in the programs, the main difference is that Anytime Fitness Online Virtual Personal Training provides customers with state of the art smart technology that determine exercises base on a person body type and health conditions, and the program do not use live instructors. The program is also a pricey project, which will make funding difficult. For years, Health and wellness companies have been developing new trends to provide consumers with health products in a more convenient way from d workout videos and selling products online to the latest development web streaming training sessions. The problem with that is if an instructor's call-in on a workout and if there is no replacement the customer miss out on a day to continue their progress. Anytime Fitness will develop a new trend of putting control Business Model and Strategic Plan Part II 3 in the consumer's hands by providing them with smart technology that will base workouts on body type and health status, and the instructor will be virtual control by smart technology so no more cancellations. Business Model and Strategic Plan Part II: SWOTT Analysis Paper For a company to successfully introduce a new division, it must first have a quality business model, but to ensure that the model is what a company an internal and external environmental analysis, and a supply chain analysis must be conducted for the business model. The analysis that was performed for the new division has established an excellent display of the company main strengths, weaknesses, opportunities, threats, and trends. The synopsis of this paper will identify the forces and trends that are relevant to Anytime Fitness new division. Synopsis Anytime Fitness do not have to encounter too many legal or regulatory forces except for registering the division name, which is standard for any business. It is also possible that Anytime Fitness could experience a trend of competitors accusing of violating the intellectual property law and attempt to prove that Anytime Fitness copied their division from them. In today's society and economy, it is abnormal to not have more than one job. People have less time to do things that will help them live a healthy life like exercise, which is proven to be the best way to stay healthy however; many consumers cannot fit their schedule around workout activities if they want to provide for their families. That's why the virtual online personal trainer program can be a life changer by affording individuals to work out as if they were in a gym. This benefit consumers that work multiple low paying job because the economy, however the current trend of Business Model and Strategic Plan Part II 4 new divisions has been unfortunate because of the state of the economy, causing companies to prematurely give up on the new division. The organization of Anytime Fitness has done an adequate job of constantly keeping up to date on changes and implementing it into their business operations. Anytime fitness has responded to the trend of increase quality by offering many services that accommodate customers such as offering classes for all of the latest dance exercises (P90x, Hip Hop Abs, Cross Fit, Yoga, and Zumba, accommodate consumers ever growing workloads by being open 24/7, and now they are taking online exercising to another level with the virtual online personal training program. The supply chain for Anytime Fitness consists of the suppliers, the company, franchise owners, and consumers. The suppliers provide the main body the company supplies for the organization to function, but the supplier is an interchangeable part of the chain that can be replaced by the lowest bidder. The main body of the company serves as a distributor, which new policies, equipment, directives, and promotions are distributed from the main body to the franchisees. The Franchisees conduct daily business at their respective locations and report back to the main body. The consumers demand services and goods and set the level of quality. Issues and Opportunities Some of the issues are that other companies have some of the same capabilities that Anytime Fitness possess and have been utilizing the internet for personal training already and the program is also a pricey project, which will make funding difficult. Anytime Fitness opportunities are to expand globally, be a leader in innovation in its industry and achieve its goals of providing consumers with convenient, affordable, and fun products and services. Hypothesis Business Model and Strategic Plan Part II 5 Many of Anytime Fitness competitors that are already promoting online training programs can attempt to accuse the organization of violating the intellectual property law once the program is functioning and generating profits. The artificial intelligence and smart technology it will take to construct the program will cost a large amount of money, and likely more money than Anytime Fitness will not be able to pay outright, nor would it be a wise decision to do so. Circumstances, Classification, Importance, and Accuracy The circumstance of the first issue is competitors filing lawsuits against Anytime Fitness claiming it's their intellectual property, which is a threat but the importance is minimal because there many differences between the Anytime Fitness virtual online personal training program that their competitors do not possess. The other circumstance is the funding of the technology for the program, which is a weakness in the strategy, and is of the utmost importance because the technology is what makes this program more unique than any other program online. Conclusion Anytime Fitness new division has more upside than the issues that it face, and when the issues are resolved they will boast the most innovative resource available this day and age. The fact that the organization has an already stable foundation in place and their success in expanding into other countries will surely help them find funding needed for the technology and the present business model and SWOTT will be a guide for making this new division a new trend. References Business Model and Strategic Plan Part II 6 ANYTIME FITNESS. (2015). Retrieved from http://anytimefitness.com/ MissionStatements.com. (2015). Retrieved from http://www.missionstatements.com/ Optimum Body, LLC. (2015). Retrieved from http://www.optimumbody.com/virtual-on-linepersonal-training-programs/ Long, N. (n.d.). Requirements to Start a Gym, (2015). Retrieved from http://smallbusiness.chron.com/requirements-start-gym-11455.html Business Model and Strategic Plan Part III 1 Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan Jeannie Gilmore BUS/475 July 6, 2015 Maria Rutledge Business Model and Strategic Plan Part III 2 Shareholder Value or Financial Perspective Balanced Scorecard Market share Anytime Fitness can increase their market share for the new division by focusing on gaining new customers through advertising online, email, physical promotions (billboards or commercials). Revenues and costs The spending on for the new division can be considerably low by shopping for reasonably priced equipment and Profitability manufacturing. Anytime fitness can boost the profitability of the division by convincing current members of purchasing the program by adding it at a lower price because their member status or offer promotions like test trials to gain Competitive position interest in the service. Anytime will gain a competitive position by focusing on the unique and rare features that the program has over the competition. Customer Value Perspective Balanced Scorecard Customer retention or turnover One of the main reason Gyms lose members is because the inability to create time to exercise, so Anytime Fitness Customer satisfaction can use the new program as a retention tool for customers. Anytime Fitness goal is to make exercising convenient, fun, and affordable for customer. And the new division is Business Model and Strategic Plan Part III 3 convenient, fun, and it will be available at an affordable price based on market value of the service. By implementing this new service for customers, Anytime Customer value Fitness display their value for their customer goals to stay fit in convenient affordable manner. Process or Internal Operations Perspective Balanced Scorecard Measure of process performance The division will be measured by the mistakes or an error that is in the system. I customers are able to work out in their home, without technical difficulty with the software Productivity or productivity improvement or equipment. This new division will build on the productivity that Impact of change on the organization Anytime Fitness has been conducting. The change should give the organization a profitable and popularity boost because of the convenience. Learning and Growth (Employee) Perspective Balanced Scorecard Employee satisfaction The new division will provide opportunities for employees to earn incentives for promoting the new Nature of organizational culture or climate service while carrying out their workday. The nature of the organization is to provide customer with Technological innovation convenient, fun, and affordable service. The new division is based on artificial intelligence with a virtual character for instructor, with equipment that monitors a person body during workouts. Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan Business Model and Strategic Plan Part III 4 The method of balanced scorecard is a method that is used by all companies. The balanced scorecard help to develop the organizations' important objectives, identify key trends, make rational assumptions, and determine the risk associate with the new division. This paper is based on Anytime Fitness new division balanced scorecard and communication plan, which directly aligns with the vision, mission, and values of Anytime Fitness and their SWOTT analysis and supply chain analysis. Strategic Objectives Financial Perspective Anytime Fitness can increase their market share for the new division by focusing on gaining new customers through advertising online, email, physical promotions. Anytime Fitness will also market the program on websites that are heavily populated with consumers looking to discover new information such as Google and Yahoo, and also targeting popular social media sites like Facebook and Twitter. With equipment needed such as smart wristband, digital scale, and the artificial intelligent software; the estimated investment of these products and services can be in a range from $10 million or more. The high cost for the new division can be considerably low by shopping for reasonably priced equipment and manufacturing. Anytime Fitness will mostly likely look to reduce cost by finding a company in another country with good quality but a lower cost. Anytime Fitness will gain a competitive position by focusing on the unique and rare features that the program has over the competition. There is no program like the online virtual personal trainer, and the main competitive advantage Anytime Fitness gain is its convenience that it provides members. Members can choose to work out from their home, and members that work out at the gym can obtain this program just in case something comes up and causes them to miss their session. The convenience Business Model and Strategic Plan Part III 5 of this service tying in with the fact the gym locations staying open 24/7 creates a significant competitive advantage. Customer Value Perspective The new division will improve customer satisfaction by providing convenient fun, and it will be available at an affordable price based on market value of the service. The online virtual personal trainer program allows members to pursue a healthy lifestyle, even though they do not have the time to actively do so. Anytime Fitness Mission is to help members achieve their wellness goals and open affordable, welcoming, and convenient locations in new neighborhoods. By implementing this new service for customers, Anytime Fitness display their value for their customer goals to stay fit in convenient affordable manner. One of the main reason Gyms lose members is because the inability to create time to exercise, so Anytime Fitness can use the new program as a retention tool for customers. Members can benefit from this program as well because if they no longer have the time to travel to the gym, and they want to drop their membership the online virtual training program can be an alternate option. Process or Internal Operations Perspective If customers are able to work out in their home, without technical difficulty with the software or equipment there will not be many calls to technical support for the service. Monitoring complaints about the service can be a good measure of the new division performance. This new division will build on Anytime Fitness ability to help members meet their goal of wellness in a convenient and exciting manner, and the online virtual training is yet another method members can use to achieve their objectives. Business Model and Strategic Plan Part III 6 The convenience that this division offer customers should give the organization a profitable and popularity boost, allow them to expand globally, and make the company a leader in innovation in its industry. Learning and Growth (Employee) Perspective The new division will provide opportunities for employees to earn incentives for promoting the new service while carrying out their workday. The new division will draw more customers to the business, whether it is to utilize the online virtual program or become a member of the gym, because Anytime Fitness commitment to provide consumers with schedule flexibility, at an affordable cost, and be an exciting new experience. The new division will start a trend because smart wristband, digital scale, and the artificial intelligent software. Companies will attempt to copy Anytime Fitness model for providing customers with convenient options to stay competitive. Communication Plan Purpose: The purpose for the new division is offer virtual online personal training services for members who are not afforded the time to participate in training or the other various groups at physical locations. Audience: This program will appeal to businessmen and women in the corporate sector, middle class working families, and members that would like the service just in case personal situations affect their training sessions. Channels of Communication: Every avenue of communication will be utilize however, the market analysis revealed that marketing this service on websites that are heavily populated with consumers such as Google and Yahoo, and also targeting popular social media sites like Facebook and Twitter will generate new customers. The communication will be conducted through advertisements and promotions such as free trials, video examples of how the service work, and more. Business Model and Strategic Plan Part III 7 Conclusion Anytime Fitness is in prime position to start up their new division, and the balanced scorecard provides the company with the objectives that are pivotal in making the idea a reality. From a financial perspective Revenue and cost is a concern because of the high cost it required to fund the program, but if a reasonably priced manufacturer is contracted the company will benefit from their competitive position. The new division is convenient for consumers so customer satisfaction can be considered strength for the company, and the new service will aid customer retention. Measuring the performance of the program is not simple, but by monitoring the number of complaints. The fact that the service is innovative and convenient should boost sale and membership applicants for Anytime Fitness. Employees will meet the challenge of promoting the new division because of the incentives they will receive, and company will fulfill its mission statement. References ANYTIME FITNESS. (2015). Retrieved from http://anytimefitness.com/ MissionStatements.com. (2015). Retrieved from http://www.missionstatements.com/ Business Model and Strategic Plan Part III 8 Optimum Body, LLC. (2015). Retrieved from http://www.optimumbody.com/virtual-on-linepersonal-training-programs/ Running head: BUSINESS MODEL AND STRATEGIC PLAN PART I: 1 Business Model and Strategic Plan Part I: Conceptualizing a New Product or Service Division of an Existing Business Thomas Belton BUS/475 July 06, 2015 Susan Horvat Running head: BUSINESS MODEL AND STRATEGIC PLAN PART I: 2 The creation of new business methods are very important for any business that expects to keep their business and products popular must have a clear mission, unique creativity and values will be very successful. Anytime Fitness is a company that works solely around the their clients personal needs which is setting a unique business model that is fitting to their goals of being able to reach out to those expecting to better themselves at an affordable rate. This paper will present and explain the new changes to the current business model and the new field of personalized on-line training at Anytime Fitness. New Product or Service The newest service that the Anytime Fitness brand will be offering to their clients is the ability to conduct training online on their own time. This is very useful for those that cannot make it to a gym or location other than work or home. This allows new methods of change for those who are suffering from obesity, medical issues or are just interested in getting healthier. This program will outline a regimented online training program that includes a virtual train, measurements of vitals and daily log book entries to assist the clients to meet the needs of their clients. Additionally, this will lead to a new forum where all online trainees can express their goals and accomplishments with others that encourage others to continue to reach their goals. Mission Statement At Anytime Fitness, the main objective is to give people the opportunity in the most affordable way to reach their personal fitness goals. Our mission is to motivate those who are driven to change and provide different avenues that one may take during their time in the program and to have the ability to exercise anywhere with the assistance of the internet. Product or Service Differential Anytime Fitness utilizes numerous tools like a weekly training matrix, weekly dieting tips, blogs and other logs to help those in the program. This is very important to the world based off the changes in technology that are taking place every single day. This program will offer services unlike a Running head: BUSINESS MODEL AND STRATEGIC PLAN PART I: 3 gym or other trainers because they have the set regiment and do not put the client in control of their own training plan. This tool can help decide exactly which exercises the client wants to complete set on their individual goals and that the programs artificial intelligence assists in the motivation and daily reminders to utilize all the tools that were previously mentioned inside the new product description. Another added benefit is that each person can adjust the intensity and levels of the training programs with tips from the virtual trainers input. The safety features that are associated with this training program are proven to keep the levels and intensity levels moderate to prevent a medical emergency. Customer Needs and Competitive Advantages In the world we live in today, everyone is constantly on the go but we all find time to get onto the internet or social media at some point during the day. Years ago it was not uncommon for people to have only one job, but today you will see people that are work numerous jobs to make it in the world we live in today. People have less time to get the extra things that are wanted or needed to get done in their lives that help them maintain a healthy lifestyle which the world today is also to blame with all the fast food and unhealthy food choices that are easily made. Science has proven that someone who wants to stay healthy should exercise, however people are still having a hard time fitting their workouts into their busy lives. This is where the online training program and trainers can be life changing for those who are trying to make the changes to live a healthy life. It is well known that most people that have never worked out in a gym can find it intimidating and get the feel of being out of place. Having the benefit of working out in your own home where the client is comfortable makes it easier to concentrate on their specific goals. The program that is unlike anything else in the fitness market is truly hard to duplicate. The ability to have an open field advantage on the competition makes this program a potential for higher profit gains for the company and gives those new methods to reaching their goals. The competitive edge that Anytime Fitness has on this market, gives everyone involved the ability to workout at home, which helps lower the costs to the client not having to get \"dressed up\" for the gym and seeing a virtual trainer Running head: BUSINESS MODEL AND STRATEGIC PLAN PART I: 4 via their smart device or computer. The clients that continue to do their workouts at the gym can use this program to help them maintain their fitness in the event that they cannot make it to the gym that day. This would coincide with the 24/7 gyms that are opening but would give Anytime Fitness the advantage. Vision The outlook or vision for this online training tool is to motivate people to pursue a healthy lifestyle by giving the public alternative ways to accomplish their goals without interfering with their daily lives. The virtual trainer's main objective is to give the client the tools to be successful at their regimented program and to provide this service in their own home where most people feel comfortable. It was shown in studies among those who travel to a gym, uses energy just sitting in traffic or waiting for public transportation to get to and from the gym. Parents can now enjoy a family workout at home and not worry about finding babysitters or exercising separately from their significant others. Business Model Business Anytime Fitness' gyms are open 24 hours a day and give clients access to products and services that is friendly, affordable and mostly fun. New Division Idea The newest product will be an interactive personal training online program that allows clients get their workouts done at home that are given the chance to get to the gym during regular hours or just out of convenience. Customers The target audiences are both men and women of all ages that have busy lifestyles that are able to complete workouts in the comfort of their own home. This would be a fine tool for parents and those who cannot afford the costs of personal training at a gym. Running head: BUSINESS MODEL AND STRATEGIC PLAN PART I: 5 Market There are many programs on the internet that provide a similar service but do not reach the levels of this program. These older programs are not setup for each individual but for a group of people that the producers think their goals \"should\" be. This takes away from personalization which gives our program the competitive edge. Product/Service Other companies like Optimum Body, but they do not have the new features that the virtual training service provides (don't have to clean the room or get dressed up). The clients exercise program is designed by your own individual health and goals, which is monitored by the provided heart monitor and other safety features. Valuation Optimum Body programs range from $70 to $129 depending on duration of the program, but Optimum is an online-based company, which limits them in innovating prices ("Optimum Body, Llc", 2015). Anytime Fitness currently has established locations in North and South America and Canada that gives the company the ability to curve its prices and provide client more flexibility and options. It is expected that Anytime Fitness will charge anywhere from $35-$40 for the program and will include a discount for those that choose to add on a membership at the gym as well rather than just at home. This is giving our client numerous options to stay on top of their goals. The expected clientele is the businessmen and women, middle class workers and those who are unable to get to outside locations for training. Financial Analysis There is required equipment that is required for this program; the smart watch/wristband, software and digital scale; leaves the estimated needed investment of 10 million. Marketing Plan The analysis of this market was conducted, about the new information that is associated with the new division, the methods of completion and expectations of the customers were properly analyzed and Running head: BUSINESS MODEL AND STRATEGIC PLAN PART I: 6 researched. The information that was discovered during the research showed that services on websites are full of consumers that are looking to find new information and are targeted from social media sites. Competition The main competition for Anytime Fitness is Optimum Body, which is not a company or organization that has a lot in common with the programs that Anytime Fitness is producing for their clients with exceptions to some of the programs that show very small similarities to the exercising programs. Unlike Anytime Fitness, Optimum use real life trainers and does not offer the virtual characters or artificial intelligence. The artificial intelligence works with the client and guides them through the program rather than force the regiment on them like the Optimum Body program. The technology is much different because of the fact that our product is gaining real time data that helps the program evolve around the individual. Risk Anytime Fitness will face both reward and risks with this situation due to the fact that there is a high level of money that is required to bring this program to life and there is no set guarantee that we can give the consumers because results will vary from person to person. In the event that the program is successful and members stop utilizing the in person facilities that will be a loss in profits and costs for these locations would go up to maintain and advertise. Mission and Vision Alignment Anytime Fitness Mission is to help members achieve their wellness goals, open affordable, welcoming, and conveniently-locations in new neighborhoods, and help franchise owners achieve a balanced lifestyle while still owning a thriving business (Anytime Fitness, 2015). The company wants to keep with traditional values that bring in the new online training if it is closely aligned with the company's mission statement staying accessible to everyone. Running head: BUSINESS MODEL AND STRATEGIC PLAN PART I: 7 Summary of Vision, Mission, and Values The mission, vision and values have been thoroughly thought out and strategically integrated with the development of the virtual online personal training programs. The success and the overall satisfaction of the consumers is the main focus of the vision to help them complete their goals. Guiding Principles and Values The divisions' principles have been referred to more than one in this paper due to the fact the principles and the values are taken from the company's mission statement and have the same ideology. These principles are affordable, fun and convenient. The consumers will receive a schedule and training matrix that will both be affordable and exciting to new clients. Conclusion It is very important that every business have a mission statement that it sticks to and outlines the vision, mission and values to help make a viable model to follow to make this business successful. Running head: BUSINESS MODEL AND STRATEGIC PLAN PART I: 8 References Anytime Fitness. (2015). Retrieved from http://anytimefitness.com/ Optimum Body, LLC. (2015). Retrieved from http://www.optimumbody.com/virtual-on-line-personaltraining-programs/