(PDF) The Psychological and Social Benefits of Sport

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[Author name][Email address]BUSINESSPLANNUTRITIONAPPLICATION FOR HIGH SCHOOLTOURNAMENTS
Table of ContentsEXECUTIVE SUMMARY.........................................................................................................................2MARKETRESEARCH..............................................................................................................................3The Basketball Industry...................................................................................................................................3The Nutrition Market.......................................................................................................................................3The Target Market...........................................................................................................................................3Threat & Opportunity......................................................................................................................................4PROPOSEDMANAGEMENT AND PRODUCTION STRUCTURE SECTION.........................5Management Structure....................................................................................................................................5Nutrition Program Process.............................................................................................................................6BUSINESSMODEL CANVAS................................................................................................................7PROJECTEDINCOME & EXPENDITURE SECTION...................................................................8SALESFORECAST....................................................................................................................................9REFERENCES..........................................................................................................................................10APPENDICES...........................................................................................................................................111Business PlanNutrition Application for High School Basketball Tournaments
EXECUTIVE SUMMARYSport has wideadvantagessuch as boosting individual and community development, reducingthe social crime rate together with the burden of ill health on society. Along with the continuousprogress of the economy and society, the demand for sports activities is increasing. Thus, sportbecomes a promising industry.In the USA, basketball is one of the most favored sports with bringing millions USA in revenuefor businesses. Detroit is the seat of Wayne County, located in the southwestern of Michigan inthe US. Compared to other regions in the US, even though basketball activities are still popular,in Detroit the issue of nutrition for athletes, especially in high schools, is not yet focused on. Thiswill greatly affect the physical foundation as well as the performance of the athletes intournaments. Therefore, the business aims to provide a nutrition application – Cazo that caneasily be installed on phones for basketball tournaments in Detroit.The primary market in the early stage was high school basketball teams, from 14-18 years old.The application will bring a variety of nutrition programs to suit the health condition and budgetof each team/ athlete, along with the delivery service. Furthermore, customers might receiveadvice about their diet, how to improve health status, or fitness improvement tips from thecompany’s nutritionists. The price of services will depend on the meal frequency, the type ofprogram, and other specific requirements of customer. Last but not least, Cazo also offersadvertising packages for basketball sponsors. The business’s mission, besides profit-taking, is tocreate a solid physical foundation that maximizes the athletes' abilities to prepare for regionaltournaments, and in the future, for college tournaments as well as the NBA.The nutrition business is a very competitive market in the US with large companies that havestrong financial resources. Thus, the firm applies a competitive advantages price strategy as themain advantage, focusing on the market gap in Detroit city, which does not have too manycompetitors yet. In terms of marketing and sales strategies, the firm will advertise on socialmedia platforms as well as approach high school/basketball tournaments so that athletes canexperience the menu and feedback so as to improve the business’s strategy. Moreover, thecompany run might many other promotion campaigns such as discounts, coupons to raise brandawareness.Cazo consists of 20 employees in all departments. In addition, based on the size of the targetmarket and defined market area, the sale projections for the first year are $252,890. Cazo hasprojected a growth rate of30% per year for the first three years. However, the sales forecast canbe affected due to the COVID 19 pandemic or another unprecedented situation.2Business PlanNutrition Application for High School Basketball Tournaments
MARKETRESEARCHThe Basketball IndustryIn the past decades, the sports market size is experiencing dramatic growth, become a worldwideindustry with unprecedented levels of revenue. In 2020, the market declined from $ 458.8 billionin 2019 to $ 388.3 billion in 2020 at a rate of - 15.4% (Global Sports Market Opportunities andStrategies, 2020). However, the COVID-19 pandemic leads to the decline of revenue whenlockdown and social distancing happened across countries. However, it still promises to be oneof the most important sectors of the world's economic activity in 2021.Besides, according to research by Statista, North America was the largest region in the globalsports market, accounting for nearly 35% of the total in 2020 (Statista.com) (Appendix 1). Inmost countries, football is extremely popular with the name “King of Sport”. Therefore, manypeople might think there is the same situationin America. However, an interesting fact showsthat basketball is the sport with the largest number of people with nearly 25 million people,approximately double the number of football players. In the media and through sports programson television, the audience has already familiar with one of the oldest basketball tournaments inAmerica - the NBA - the professional basketball tournament with the participation of the world'stop players. Some major basketball teams in the current NBA must include the Miami Heat, SanAntonio Spurs, or the Oklahoma City Thunders ... Today, at major tournaments like theOlympics or the Olympics, American basketball still retains its NO.1 position. Overall,basketball is ranked among the top crucial sectors in the US sports industry.Due to the COVID 19, many basketball tournaments have taken place with no or limitedaudiences. This might affect the revenues of the football teams as well as investors. However,financially, the NBA collected most of its revenue for the 2019-20 season pre-pandemic (Sport2021 outlook, 2020). This revenue usually comes from pre-pandemic matches, sponsors, virtualsignage together with advertising.The Nutrition MarketThe global sports nutrition market size was valued at USD 15.6 billion in 2019 and is expected togrow at8.9% from 2020 to 2027 (Sports Nutrition Market Size, Share & Trends AnalysisReport, 2020) (Appendix 2).A rise in understanding among young athletes of the importance ofnutrition is also driving the growth of this sector. In order to improve fitness, athletes concentrateon satisfying their nutritional needs along with the adequate physical activity. In addition,athletes, coaches, trainers, and fitness enthusiasts typically prioritize meeting nutritional needs,since training and recovery are affected by nutrition.The Target MarketSportsare fundamental student activity and popular activity ineveryhigh schoos. In the UnitedStates, more than 7 million students regularly participate in high school sports, comprisingapproximately 75% of all high school students (Giorgio, P.,2020).Basketball is the most3Business PlanNutrition Application for High School Basketball Tournaments
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