Just Fit is a business idea of introducing a new fitness Gym, which will work towards providing health and fitness advice to the customers. Besides this, it will provide the facility of the gym as well as will work as a consultant to maintain a healthy body.
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Running head: INNOVATION AND ENTERPRISE Innovation and Enterprise 4/20/2019
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INNOVATION AND ENTREPRISE1 Business Canvas Model Business Overview Just Fit is a business idea of introducing a new fitness Gym, which will work towards providing health and fitness advice to the customers. Besides this, it will provide the facility of the gym as well as will work as a consultant to maintain a healthy body. Just Fit will work to offer a healthy and friendly environment to its customers where people can enjoy and maintain their fitness. Key Partners Expert Trainers– The owners of the business will make contacts with expert trainers who can provide advice to the users about how to schedule their daily routine such as what to eat, how to burn calories, what to take in order to have a balanced diet, exercises, etc. The users can take advice from the experts through phone calls by using the phone call numbers from the website of Just Fit or can read the reviews of the experts on the website and at the gym. The trainers will give advice to the customers regarding what type of music to listen while doing a workout, type of shoes to be purchased for a particular type of workout or physical activity (Hodell, 2013). In addition to this, they will guide the members of the studio gym regarding what all nutrition, vitamins, and minerals to be consumed in order to have a healthy and toned body. Customers– The users of the Just Fit are health conscious and weight conscious people, and special diet takers. All these customers are the key partners of the business for whom this business is being introduced in the market to meet their needs and support them in having a healthy and fit life. The customers will be offered with a friendly environment where they can openly interact with the trainers as well as other customers who are visiting the gym studio.
INNOVATION AND ENTREPRISE2 Besides this, Just Fit the studio gym will provide different consultancy services to the customers such as physical as well as mental fitness. In order to maintain a healthy and fit body, people require different types of nutritional products and tools, so business will also involve in selling different products and tools to the customers at reasonable prices. Marketing team– The business is going to contact with a marketing agency who will work towards attracting customers in the market through different promotional activities such as advertisement, campaigns, etc. The marketing agency will be also responsible to promote the business on different offline as well as online platforms such as print media, social media and developing the website of the business (Roetzer, 2011). Suppliers– The business is going to make good relations with the suppliers of different gym tools, equipment, and products like a protein shake, etc. such that they can attain the products at very good prices (Taggart, 2016). The business will try to contact with the best supplier who can deliver quality and best products to the gym. Studio Owner– The owner is the one who is investing a major amount of capital into the development of the business. The owner is responsible for maintaining and contacting with different suppliers and employees of the business in order to have smooth and best operations within the business. Key Activity Promotion of Just Fit among the target market through television advertisement, hoarding, pamphlets, etc. Supporting users in tracking their daily routine activities Advice from expert trainers to have a healthy life (Patricia, 2013) Maintaining good relations with the suppliers Offering a healthy and friendly environment to the customers
INNOVATION AND ENTREPRISE3 Key Resources The trainer is the key resource of the business that will be hired to provide advice and helping customers in performing different physical activities. The manager is another key resource of the business who will be responsible to manage the daily work at the gym studio Website of Just Fit is one of the key resources for business as it will inform the users about the services and products of the business Capital assets like equipment, building, and capital Physical assets like storage warehouse and stock of products Value Proposition Just Fit is for those health conscious people who love to get involved in physical activities and desire for a healthy life at a very reasonable cost. Customers can contact and can take the membership through a phone call, on website. Just Fit is offering you the best environment where to spend maximum time along with quality products and best equipment. Just Fit will work in your life as a lifestyle and diet consultancy The gym studio is offering service for seven days a week and offers convenient hours as per the customers’ needs. Customers Relationship Social media platforms like Facebook and Youtube are used to interact and maintain good relations with customers (In, 2018). Along with this, it is also used for the promotion of the business. Works on maintaining smooth and clear communication between trainer and client Open for customers’ feedback
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INNOVATION AND ENTREPRISE4 In order to retain and maintain customer, Just Fit is offering a discount on yearly subscription with a free diet plan In addition, online coach training is also provided by different experts In order to have good relations with the customers, the business will work towards including different services into the model like consultancy services, selling of tools and products of the gym, etc. Channels Just Fit Mobile application Word of Mouth Social media like Facebook and Youtube (Palmer, 2012) Website www.fitbit.com Customers Segment The customer's segment that will be targeted by the business is male and female from the age group of 10 to 60 years The business will serve customers who want to improve their physical and mental strength through different physical activities and counselling. Just Fit is also for those people who are weight conscious, health conscious, and diet conscious (The GYM, 2019). People who like to be social and making friends are also invited to the studio. Revenue Stream Fees of membership from the customers Salary to a personal trainer Merchandise of different nutritional products and fitness tools Workout programs and supplements
INNOVATION AND ENTREPRISE5 Cost Structure Expenses in the maintenance of the equipment Salaries for trainers and different staff members Payment to the IT Team for the maintenance and updating of the website Expenses of designing t-shirts for the trainers as well as customers Expenses of designing of towels for trainers as well as customers Rent payment Building and Infrastructure Legal Obligations Cost Structure of Just Fit (amount in RM) Equipment maintenance7,000 Salary to Staff Members and trainers25,000 Payment to IT Team15,000 Designing of T-shirt and Towel12,000 Rent10,000 Building15,000 Infrastructure18,000 Legal Requirements5,000 Total1,07,000
INNOVATION AND ENTREPRISE6 References Hodell, C. (2013).SMEs From the Ground Up: A No-Nonsense Approach to Trainer-Expert Collaboration1sted. US: American Society for Training and Development. In, L. (2018).Diverse Methods in Customer Relationship Marketing and Management1sted. U.K: IGI Global. Palmer, A. (2012).Introduction to Marketing: Theory and Practice1sted. U.K: OUP Oxford. Patricia,O.D.P.(2013).StrategicRoleofTertiaryEducationandTechnologiesfor Sustainable Competitive Advantage1sted. U.K: IGI Global. Roetzer, P. (2011).The Marketing Agency Blueprint: The Handbook for Building Hybrid PR, SEO, Content, Advertising, and Web Firms1sted. U.K: John Wiley & Sons. Taggart, A. (2016).Project Management for Supplier Organizations: Harmonising the Project Owner to Supplier Relationship2nded. U.S: Routledge. TheGYM.(2019).CharacteristicsOfOurCustomers.Retrievedfrom https://theecongym.weebly.com/target-market--customer-base.html