Starting a Business and Fundamentals of Marketing

Starting a Business and
Fundamentals of
Marketing

Table of Contents
INTRODUCTION...........................................................................................................................1
BUSINESS PLAN...........................................................................................................................1
1) Overview about the business idea...........................................................................................1
2) Evaluation of external environment........................................................................................2
3) Discussion of competition and what is the competitive advantage........................................4
4) Suggestions for the proposed target market............................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
An entrepreneur is a person who have an innovative ideas and concepts which will be
introduced in order to fulfil the needs and wants of customers or market requirements. For
launching a new business enterprise a person requires to do a market research in order to identify
the dynamic requirements and preferences of society (Hopp, 2018). This will assist to
entrepreneur and motivates them towards the development of their skills and capabilities in order
to start a new entity and successfully sustain in the competitive market for a long period of time.
The present business plan is based on the Gymnasium that will be launched “DIY workout Gym”
in UK. This will provide huge range of activities related to the exercise such as yoga, muscle
strengthening and aerobics. Under this report discuss in detail about the whole business plan that
considers business description, evaluate external business environment, discuss about
competition, competitive advantage as well as target market.
BUSINESS PLAN
1) Overview about the business idea.
The business idea of launching “DIY workout Gym” in London, United Kingdom which
is an organisation that provides wide range of workout and fitness exercise and activities that
includes aerobics, flexibility as well as muscle strengthening exercises that will be required for
the population of UK in order to remain fit. A person who research towards the market and
identified the needs of people of London regarding the requirement of join Gym for maintaining
their healthy lifestyles. The main reason behind the feasibility of “DIY workout Gym” is the
segment of population of UK especially London as they are highly affected through diseases like
obese as well as diabetes so that the demand of healthy lifestyle is increased and people moves
towards the daily routine exercises and workouts (Kochkina, 2019).
In order to analyse all conditions the owner of “DIY workout Gym” decided to introduce
new Gym business venture in London city of UK where several people are willing to acquire
Gym membership. In United Kingdom, London becomes the largest populated city due to that an
entrepreneur pre determined to attain high growth, success as well as sustainability in that kind
of marketplace. Introducing a new business venture is a complex tasks as it needs many
resources and more support from several members in order to get sufficient resources. For this,
the entrepreneur decided to establish a new business of Gym in the form of partnership by
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