Question
The following Goals and Objectives have been set for Bounce Fitness for the coming year 2023. Return on Investment of at least 15% by end
The following Goals and Objectives have been set for Bounce Fitness for the coming year 2023.
Return on Investment of at least 15% by end of 2023
Increase net earnings by at least 10% by end of 2023
Achieve market share of 15% in each area by end of 2023
To increase the sales of annual memberships by 20% within 12 months
Increase brand credibility and trust by 20% by end of 2023
Financial Capability Setting all other expected expenses aside, Bounce Fitness Brisbane currently has a budget of $105,000 for the present financial year. This money can be spent to make any necessary changes or improvements to the centre current business operations Marketing Capability As one of the four main branches of Bounce Fitness, the marketing operations of Bounce Fitness Brisbane is handled by the Bounce Fitness Marketing department which is stationed at the Cairns Head Office. Led by Kath Jones, the General Manager of Marketing, the Marketing Department is composed of a seven-person team that handles all of the marketing operations for the four different fitness centres across Cairns, Brisbane, Melbourne and Sydney. Operational Capability Bounce Fitness Brisbane sells gym memberships to up to 120% of its maximum customer capacity. This means that at peak times, it could be quite crowded in the Centre, but experience demonstrates that there is usually only a maximum of 80% in its regular usage Bounce Fitness Brisbane has internet access Bounce Fitness Brisbane has a zoom account Personnel Capability In addition to Ellie Tolley, the Centre Manager for Bounce Fitness Brisbane, the Brisbane Centre currently has five full-time staff members that could be expected to train 30 new clients every month. The present staff of Bounce Fitness Brisbane has the capacity to develop and offer one (1) new specialised fitness class apart from the existing training programs and classes it now currently provides to its regular clients None of the present staff at Bounce Fitness Brisbane have received training in delivering classes to older people.
Four (4) marketing opportunities for Bounce Fitness Brisbane.
Virtual Fitness Platform Integration: Entrepreneurial and Innovative Virtual Fitness Platform Integration: Bounce Fitness Brisbane may benefit from the growing trend of virtual fitness by creating an innovative platform that goes beyond regular virtual sessions. The gym might invest in developing a whole virtual fitness environment that includes personalised workout regimens, virtual personal training sessions, and interactive group classes. This entrepreneurial initiative would not only respond to the demands of members who are limited by time and traffic but would also tap into a larger market of those who enjoy working out from home. Real-time performance tracking, virtual social networks, and gamification aspects would set Bounce Fitness different in the market, encouraging creativity and innovation.
Nutrition and Wellness App: Recognising the substantial amount of members and non-members who lack nutrition knowledge, Bounce Fitness Brisbane can design a nutrition and wellness app. This software can provide personalised meal plans, nutritional advice, and tracking of progress. The entrepreneurial side comes from forming alliances with nutritionists, dieticians, and wellness influencers to give exclusive material and recommendations. Integrating creative elements such as interactive cooking classes, recipe-sharing communities, and gamified challenges related to healthy eating can make the app not only informative but also engaging. This advancement will position Bounce Fitness as a provider of holistic wellness solutions, attracting health-conscious customers looking for a comprehensive approach to fitness.
Flexible Fitness Memberships for Remote Workers: As more individuals choose remote work, Bounce Fitness can tap into this market by providing novel membership packages geared to remote workers. The fitness centre might offer flexible scheduling, unique virtual fitness courses during working hours, and wellness packages tailored to folks who work from home. This entrepreneurial move corresponds with the shifting work landscape, providing unique solutions to people seeking a work-life balance. Bounce Fitness can explore collaborations with remote work-focused organisations, developing customised membership packages for their employees and fostering creativity in addressing the workforce's changing demands.
Community Engagement Initiatives: By organising fitness events that go beyond standard gym activities, Bounce Fitness can take a creative approach to community engagement. Outdoor fitness challenges, charity runs, and wellness festivals are examples of this. Collaboration with local businesses, influencers, and community organisations can boost the entrepreneurial side, resulting in a one-of-a-kind blend of fitness, entertainment, and community involvement. These events could be marketed through creative marketing efforts that use social media, influencer collaborations, and gamified challenges to generate interest and participation. Bounce Fitness can differentiate itself and attract those searching for more than simply a gym membership by developing a feeling of community and making fitness a social and pleasurable experience.
Briefly evaluate their suitability for organisation by analysing them through each of the following criteria: i. Likely fit with organisational goals ii. Likely fit with organisational capabilities
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