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ENTERPRISE AND
ENTREPRENEURSHIP

TABLE OF CONTENTS
MAIN BODY...................................................................................................................................3
Proposed future business.............................................................................................................3
Customers....................................................................................................................................3
Competitors ................................................................................................................................3
Skill analysis...............................................................................................................................4
Profit and loss account................................................................................................................4
Sources of funding......................................................................................................................4
Plans for acquiring resources......................................................................................................5
Management information system................................................................................................5
Vision..........................................................................................................................................5
REFERENCES................................................................................................................................7

MAIN BODY
Proposed future business
The main service which the company is gong to launch is gym for the people. This gym
will be mainly opened in the residential complex of London and thus will encompass the
different equipment along with world-class services. This gym will offer the friendly
environment and thus will consist of all kinds of equipment. This gym is not only about the
regular fitness class built is beyond that. Here the gym has bought a highly innovative concept
for the people which is group dynamic (Chambers and Humble, 2017). This group dynamic will
be highly beneficial for the people where the main idea is that the group mainly energizes their
members and thus pushes them. The main IP which will be used for protecting the business idea
is patent. Company will protect its business idea of gym by acquiring the patent over it. This will
provide the legal rights to gym to sue other competitor who will use this idea.
Customers
This gym service will mainly target the B2C customers that is business to customers.
Here the main ed users will be youth between the age group of 18 to 30 as well as adults between
the age group of 31 to 40. Majorly the gym service will be targets to both males and females
belonging to this age group & will mainly target the upper class individuals along with people
living in residential complex (McKeever, 2016). The major USP of this service is to provide the
expert advice from the major experts on transforming the body shape as well as changing the
health behavior of large number of people to lead a healthy life. The major customer needs
which this gym will focus is providing the healthy life to people. Nowadays, health has become
one of the major concern thus in this modern era, this innovative gym will prove to be an
effective way and it will provide all the mixture of facilities in a single gym.
Competitors
The major competitors of this gym are the big gyms providing variety of services like
basketball courts, polls etc. Besides this, other competitors of the gym are the large dance classes
as well as yoga centers which are highly dedicated towards the providing a healthier life to the
people through numerous means like Zumba, aerobics, dance etc. These all competitors mainly
provides the similar services which are directed towards changing the health behaviour of
people. These competitors due to their high brand name and brand awareness captures a great
market share (Burns and Dewhurst, 2016). The large gym having various services and products

mainly acquires around 30% of the market share while the big yoga centers have a market grasp
of nearly 21.4%. On the other hand, the local dance classes does not have much share in the
market as these are not promoted on the wide platform. Although these competitors have large
market share and great brand in the market, but the main rationale which makes this gym
different from the other ones is the blend of all services in a single room. Most of the well-
known gyms and yoga centers focuses on the single service like either they provide
cardiovascular activities or they address exercises for mental health. This gym is a single room of
variety of activities where customers will get all the services ranging from Zumba to cardio
training. Not only this, gym will have a series of expert which will guide on various dietary
requirements according to their health, age,etc. Customers will encounter free dietary charts and
can have free checkups. The mixture of all the services at single place makes this gym different
from others.
Skill analysis
The major skills which the organization have in order to take this business idea of gym to
another reveal is communication skills. This is one of the most important skill which is required
which is required for engaging the customers as well as attracting them. This effective
communication skill will help to interact with people and entice them. The major skills which are
not well-developed and needs to be developed are time management as well as problem solving
skills. Due to the lack of time management skills, there remains the lack of proper management
of the activities as well as tasks (Ekanem, 2017). Due to lack of problem solving skill, it will
become difficult to analyze the issues which this business idea might face from various
perspectives. In order to address this skill gap, the most effective way is to attain the various
training programs and seek the help of technology. Where on one hand, the training sessions will
help to know that how to manage time and prioritize the work on the other hand, use of online
resources like problem solving quiz etc will help to evaluate issues from different ways and
generate feasible solution.