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Market Analysis

In: Business and Management

Submitted By JADEK92
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Executive Summary
This marketing plan is a means for Elite Fitness to refocus its identity as differentiated from competitors in its local market. The primary goal for Elite Fitness is help achieve a healthy community by focusing on lifestyle fitness. This will involve rebranding, refocusing activities, and redeveloping many marketing materials in the coming 12 months. Follow up and careful examination of results over the next three years will determine whether this marketing direction is having the desired effect.

Company Overview
Elite Fitness strives to be a one-stop shop for all of your health and fitness goals located in the growing city of Grain Valley, Missouri. Here we don’t just believe that health and fitness is about “losing weight” or eating well. Being fit and healthy means that your body and mind are working together to become the best “you.” And that’s what we specialize in at Elite Fitness.
All of the services we offer provide the opportunity to improve any individual’s level of fitness, feel better and ultimately, be healthy. At Elite, our customers are not just a number, they’re family. * Inspire the community to take a step in a healthier direction by hosting monthly themed “fun runs” with an extra prize if a participant completes all 12 races. Each fun run will include educational resources for things such as training, stretching, and nutrition. * Hire an on-staff chiropractor. In order achieve our dream of becoming a “one-stop-shop” for all health and fitness needs, it is important to add this field to our services. Recovery and injury prevention is a major part of maintain a healthy lifestyle, and will set us apart from our competitors. * Host three, one-week long summer health camps for elementary to high-school aged children. These camps will seek to educate kids on how a healthy life style can be attained and the importance of taking care of your mind and body. * Create and implement a Corporate Wellness package which will be tailored to each specific company. Services will include: Personal Training, Nutrition, Chiropractic, Massage, Wellness Coaching, and a 5K/10K run series
Elite Advantages
With our current services of personal training, nutrition, and wellness coaching, by adding Chiropractic services, corporate wellness packages, and summer health camps, we will be able to stand apart from every other competitor in our local market and achieve our dream of becoming a one-stop-shop for all health and fitness needs within the community.

Missouri has one of the highest obesity rates at 30.3%, and the highest state being Mississippi at 34.9%. In the Kansas City Metro area alone, the percentage of people overweight escalates to 36.0% (Governing Data, 2015). In a study conducted by the Huffington Post, Kansas City made the top 10 list for “Cities with the Most Gyms”. With 31.4 gyms and fitness center per million people, it’s surprising this city does not reflect this accomplishment in its obesity ratings. (Klein, Sarah. Huffington Post, 2015)
The fitness centers the primarily make-up the Kansas City market are 24 Hour Fitness, Planet Fitness, Gold’s Gym, and Lifetime Fitness. Each of these franchises offer the same, basic, cookie carter menu that most gyms do. A facility that is equipped for the DIY fitness enthusiast but will also offer the occasional Zumba or Yoga class. This cookie cutter, DIY approach is the reason that the Kansas City obesity rate does not reflect the amount of gyms in the area. There is more that needs to be done in this city that these large franchises are not offering. The community does not need a set of weights and a treadmill to generate a healthy lifestyle. The need a team of support to walk with them each step of the way. That is why the design of Elite Fitness focuses on the support, accountability, and direction needed for each individuals success.

SWOT: Internal * Strengths:
-Our passion is to help our clients learn how to live a healthy lifestyle no matter their schedule. We provide the tools needed to help them succeed and add in the extra convenience by being their one-stop-shop for all of their fitness needs and residents within the community will see the value of our approach. * Weaknesses:
-Staffing. In order to give the needed attention and support to our clients we will need more hands-on staff that are qualified to coach and educate our clients.

-Marketing. Because the design of Elite Fitness is not the same as the traditional fitness center, it will take specific advertising to educate the community on who we are, what we offer, and what makes us different. * Opportunities:
-Advertising. Getting our message out to the community will generate exposure and also interest in what we are doing.
-Community involvement. Becoming even more involved in activities within the community. Along with our monthly themed races we will also be looking into organizing adult sports such as basketball, volleyball, and softball.

SWOT: External * Strengths
-Our unique design is unlike any other in the local market. This leaves an untapped market within Kansas City and the surrounding areas, including Grain Valley.
-We already have a strong client base in Grain Valley which will help us easily transition into the nearby communities within the Kansas City area. * Weaknesses:
-Kansas City is one of the largest gym markets with 31.4 gyms per million people. A lot of big name competition.
-Price of membership. Though Elite does offer more premium services, our memberships start at $40 a month where the average cost is $20-$30 a month at a major franchise. * Opportunities:
-No fitness facility offers the full service that Elite Fitness guarantees. As a one stop shop we combine healthy lifestyle coaches, fitness classes, and chiropractic services all in one location. * Threats:
-Lack of exposure outside of Grain Valley.
-Larger franchises offer multiple locations for their members to visit.

Competition

Elite Fitness is actively aware of the competition within the current market. The 2 major competitors in the area are 24 Hour Fitness and Planet Fitness. The major strengths that 24 Hour has in the market is their size. There are multiple locations within each nearby city so their customers have the convenience of being able to visit any of their facilities. Planet Fitness has a strong following due their low membership rates starting at $10 a month. What these two major organizations lack is personal touch and community involvement. Elite Fitness offers the same standard gym equipment and access, however we also take it a step further by meeting all our client’s fitness needs. We are a local business that cares about the community and our Elite family members.

Service Offering
Elite Fitness provides wellness strategies/programs to individuals or groups throughout the Kansas City area. Our wellness strategies for each client will structure and support a long-term effort, combining both health-promotion and fitness training designed to facilitate positive lifestyle changes for our members. Our services include: Personal Training/Group Training, Individual Program Design, Nutrition Coaching, Chiropractic, and recovery Massage.
New to Elite’s repertoire is Corporate Wellness. This program is designed to work with a company's senior management to help it develop a mission statement for its wellness program. The client company's employees will undergo a health-risk analysis, following which each employee will be given the opportunity to meet with one of our fitness and nutrition professionals to design a personalized health program. Finally, Elite will furnish employee progress reports to senior management with which to carry out the incentive program and generally monitor changes in the behavior of its work force.

Customers Analysis
The ideal client at Elite is not constricted to a specific model, and that was our very intention as we were designing our organization. With the services and support offered at Elite Fitness we are equipped to train anyone from any background. Our unique approach to fitness has attracted many in the local market. Clients love our one-stop-shop facility and the knowledgeability of our team. The majority of our clientele is made up of former members of average gyms such as 24 hour fitness and Gold’s Gym, these clients tell us that they appreciate how they feel like family and the support given by Elite has helped them reach and even exceed their goals.

Ideal Individual Customer
Elite Fitness is dedicated to helping anyone of any age, size, or ability reach their health and fitness goals. Our multi-service facility is designed to fit the needs of everyone, however, the typical Elite member will likely meet one or more of the following: * Lives or works within the Kansas City/Grain Valley area * Finds it difficult to motivate self to exercise alone or simply prefer exercise with others * Buy individual that values the maximization of time * Believes that fitness is important to health
Ideal Business Customer
The ideal business customer that would benefit from Elite’s Corporate Wellness package would be medium to large companies with 30+ employees willing to participate in the program. The company would likely have a large office setting and have a strong focus on employee satisfaction, team-building and productivity.

Outreach Plan
Ideal Individual:
Elite Fitness will reach our “Ideal Individual” within the community by: * Mailing out 14-day free trial offers to 500 non-members within the KC area every quarter. * Have a presence at local health and fitness events such as 5k’s, half and full marathons, fitness competitions, health exhibits and events. * Continue to host Elite’s monthly “Fun Runs” to generate more exposure within the community. * Host three, one-week long summer health camps for elementary to high-school aged children. These camps will also attempt to reach the parents and friends of the children that attend.
Ideal Business:
Elite Fitness will reach our “Ideal Business” within the KC area by: * Scheduling meeting with prospective businesses that would be a good fit and inform them on what Elite Fitness has to offer their employees. * Become involved with the local Business Chamber in order to develop relationships with business leaders and owners within the community.
Membership and Service Information
Elite Fitness offers the following memberships: * Standard membership - Monthly membership of $45 per month, registration fee of $40, which includes:
-Unlimited Access to group training classes
-Personalized nutrition plan and coaching to help keep you on track
-Eight Free Chiropractic Sessions per month
-Eight Free Massage Sessions per month
-Unlimited access to training and nutrition plans through our mobile app and website
- $10 off registration fees on Elite Fitness “Fun Runs” * Premium Membership - $75 per month, registration fee of $40, which includes:
-Unlimited Access to group training classes
-Personalized training plan designed to meet your individual goals
-Personalized nutrition plan and coaching to help keep you on track
-Twelve Free Chiropractic Sessions per month
-Twelve Massage Sessions per month
-Unlimited access to training and nutrition plans through our mobile app and website
- 50% off registration fees on Elite Fitness “Fun Runs” * Elite Membership - $125 per month, registration fee of $40, which includes:
-Unlimited Access to group training classes
-Personalized training plan designed to meet your individual goals
-Two free personal training sessions per month
-Personalized nutrition plan and coaching to help keep you on track
-Unlimited Free Chiropractic Sessions per month
-Unlimited Massage Sessions per month
-Unlimited access to training and nutrition plans through our mobile app and website
- Free registration for Elite Fitness “Fun Runs”
Elite Fitness also offers additional “add-on” services: * Personal training: $30 per session * Fun Run package – includes 12 fun themed 5k runs. * Chiropractic/Massage Package - $35 per session * Made-to-order gourmet protein shakes - $3 for members
Price Rationale:
The prices for Elite Fitness are set 20-30% higher than standard franchise gyms as the range of activities offered through Elite are much more substantial. The price is in line with full-service fitness centers in other cities, so individuals moving to the Kansas City area from elsewhere will not find the prices exorbitant, and will find the prices lower than some cities. Pricing is set with a monthly membership fee as well as a one-time registration fee. This additional fee gives room for Elite to offer promotions of one month free or a lower registration fee from time to time to encourage new customers or referred customers

Advertisement
The strategy to gain exposure for Elite Fitness reflects simplicity. We plan to implement a direct-mail campaign in the first quarter of next year that will target 1,000 men, women, and/or families who live within a 10-15 vicinity of our fitness center. We will also use a similar approach to reach business customers within the area by sending direct-mail brochures to 75 local offices and businesses per quarter. In another effort, we have budgeted $2,000 for a search engine advertising campaign that we will be implementing at the start of the second quarter. Our hope is that we will help accomplish our goal of increasing the number of unique visitors to our website by 40 percent next year.

Financials:

Sales Forecast | | 2012 | 2013 | 2014 | Sales | | | | Memberships | $149,391 | $194,888 | $227,839 | Corporate Events/Races | 60,519 | $93,791 | $166,945 | Total Additional Services | $40,955 | $52,679 | $59,568 | Total Sales | $250,865 | $341,358 | $454,352 | Direct Cost of Sales | 2012 | 2013 | 2014 | Employees / Trainers | $39,878 | $48,978 | $72,568 | Chiropractic/Massage Employees | ---------- | $45,874 | $62,389 | Subtotal Direct Cost of Sales | $39,878 | $94,852 | $134,957 |

Sales Forecast for 2015 | 2015 | | Sales | | | Memberships | $389,776 | | Corporate Events/Races | $188,739 | | Total Additional Services | $78,515 | | | | | Direct Cost of Sales | 2015 | | Employees/Trainers | $75,978 | | Chiropractic/Massage Employees | $68,874 | | Subtotal Direct Cost of Sales | $144,852 | |

Implementation Plan Elite Fitness as clearly defined he target market and has differentiated itself by offering a solution to fulfilling its customer’s health and fitness needs. Reasonable sales targets have been established with an implementation plan designed to ensure that goals set for the upcoming year are achieved. Elite Fitness will leverage its moderate foundation within the community to expand within the entire Kansas City area. To help gain new customer traction, Elite will capitalize on social media marketing including Elite’s own Gym App (To be released as a free download for members in 6/2015), Facebook, Instagram, and Twitter. The company will have a heavy web presence, led by an online blog that will form a community among the members of the club, as well as attract new members. Elite’s consumer direct-mail campaign will be sent out on 3/15/15 to 1,000 men, women, and/or families who live within a 10-15 miles within the vicinity of our fitness center. We will also use a similar approach to reach business customers within the area by sending direct-mail brochures to 75 local offices and businesses per quarter. The $2,000 we have budgeted for a search engine advertisement will be activated in May, 2015.

Customer Satisfaction
In order to maintain customer satisfaction, Elite will be conducting quarterly surveys to gauge how customers are feeling about our services. Clients surveys will remain anonymous and Elite will regularly monitor survey scores in order to better serve our customers. Suggestions and comments regarding our products will always be available via our website and facebook page.

"Obesity Rates for States, Metro Areas." Obesity Rates for States, Metro Areas. N.p., n.d. Web. 20 Mar. 2015.

Klein, Sarah. "The Cities With The Most Gyms And Fitness Centers." The Huffington Post. TheHuffingtonPost.com, n.d. Web. 21 Mar. 2015.

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