Report: Launching a New Fitness Venture - Muscle Curl in the UK

This report details the launch of "Muscle Curl Fitness Centre" in the UK, presenting a comprehensive business plan. It begins with an introduction to new ventures, emphasizing the importance of market analysis and financial planning. Task 1 focuses on identifying the target market, conducting competitive analysis, and outlining tangible and intangible resources. Task 2 examines the skills and capabilities needed for a successful launch. Task 3 explores promotional activities and the development of a pre-launch plan. Task 4 covers the monthly cash budget and the appropriate legal form for the venture. The report includes market analysis, competitive analysis, resource identification, and a proposed launch strategy. The report also emphasizes the importance of skills like financial planning, marketing, and presentation skills. It concludes by offering a plan for launching and operating the new business, highlighting key considerations for its success.

Launching A New Venture

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Identify specific target market and undertaking competitive analysis..................................1
P2 Specific tangible and intangible resources for new venture..................................................2
P3 Credible proposal to launch a new venture............................................................................3
TASK 2............................................................................................................................................5
P4: Skills and capabilities requires to launch a new venture......................................................5
TASK 3............................................................................................................................................6
P5 Different types of promotional activities and channels for new venture...............................6
P6 Promotional activities plan for launch and pre launch ..........................................................7
TASK 4............................................................................................................................................8
P7: Monthly cash budget for pre launch phase...........................................................................8
P8 Appropriate legal form for venture........................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
A new venture is set up with a business plan or expectation of an investor in which they
must decide a particular country where they want to enhance profit margin. Moreover, it is
outlined as small business which is set up by an entrepreneur with small amount of funds. It is
mainly focus on requirement according to that an investor determine or small business person
with the time and resources to acquire and market the new service as well as product to introduce
a business venture (Albort-Morant and Oghazi, 2016). After overall analysis select a particular
area where entrepreneur wants to open new business venture. Present assignment based on
Muscle Curl Fitness centre which is new venture and set up in UK wit the motive of make strong
financial position. This report will discuss about the a proper business plan where involves
critical analysis, competitive environment and pan to minimising risk. Along with examine
specific target market, competitive analysis, strength & weakness of new venture, identify areas
of risk. In addition, analysis skills & abilities for new venture and justify all the promotional
activities to support to launch.
TASK 1
P1 Identify specific target market and undertaking competitive analysis
To launch new business venture require to conduct research for specific market and apply
different techniques in order to determine the target market and which factor impact on the new
venture. Such as, PESTLE or Porters use for external environment and apply changes for future
activities. Besides this, it is required for business to analysis and observe internal environment
that can help to make business more stronger. Idea about new venture in UK is discussed below:
Venture Idea
In present time most of the people become health conciseness and prefer to go gym for
fitness. The number of fitness facilities increase day by day because people become aware for
health activities. From this inspiration decided to open new venture which is “Muscle Curl
Fitness centre” which is set up in United Kingdom. In this centre provide facilities of advanced
machine and open on roof top where people enjoy nature and proper concentrate on their
gyming. Whole infrastructure would be covered with high CCTV camera so that any happening
would be removed. All the trainers well expert and polite nature that influence people for proper
fitness and help in prepare diet chart (Baucus and Mitteness, 2016).
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Target market
It is defined a group of people whose needs and requirement would be mitigated by the
service of Muscle Curl Fitness centre. In England about 8.9 million people become part of these
fitness activities for at least 150 minute per week, of which women are somewhat more active
than men. There are about 9.7 million people member of fitness centre who wants to proper
fitness and aware for health. The gym centre is favourable for UK market due to high number of
people wants to flexibility in body. Mostly younger people target by the gym centre and also mid
age people for specific services of weightlifting, Chest press, Stepper, dumbbells and many
others.
Competitive Analysis
Manchester is famous city of UK in terms of business and economy. Each organisation
wants to set up their business operation in order to enhance profit margin at particular level.
Muscle Curl Fitness centre have high number of competitors who already conduct their business
activities at large level such as Withington Baths & Leisure centre, The gym Manchester
Portland Street, V1BE fitness dale street, North city family and fitness centre etc. So it is said
that business face many problems due to stiff competitors in the Manchester market (Davis and
Shaver, 2012).
P2 Specific tangible and intangible resources for new venture
Resources are plays important role to get success & growth in business where analysis
them for better performance. For this compare with the competitors and apply all the
modification in new business venture Muscle Curl Fitness centre as per the requirement. As a
result it helps to become market leader in particular market. There is various types of resources
which Muscle Curl Fitness centre require to increase their performance which is discussed
below:
Tangible resources
It is a kind of resources that can be acquired by the business in Physically manner means
touch those sources like machinery, building, equipment, human resource etc. To start any
business require to these types of resources to conduct business activities in new market and
proper execute new business plan. The main aim of these types of sources is to support the
products & services to modify the raw materials into finished goods that will be consumed by
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final customer. There are discussed different types of resources which is important for new
venture such as: Human Resource: To operate business in new industry require to man power who
already work in the fitness centre and have proper knowledge about it. It is beneficial for
Muscle Curl Fitness centre to conduct all the business activities properly. With trainer
business does not able to achieve their set goals and objectives in particular period of
time with the greatest potential so that business perform better in the market. The Centre
hire experienced trainer for training for proper utilisation of all the sources (Dunkelberg
and et.al, 2013). Physical Sources: Infrastructure or place is important for Muscle Curl Fitness centre as
then only they can perform their purpose of existence. For this required to particular
place where open gym centre at the main market where mostly people arrive so it helps to
promote business and increase their brand awareness among the different customers.
 Financial resources: To start any business require to finance resources that work as back
bone for any business. These are helping to perform business activities properly and
conduct market research, marketing and promotional activities. Such as, when Muscle
Curl Fitness centre have not enough amount for marketing activities so they can face
many problems and hampered the awareness of fitness centre. As a result they face the
problem of lower sales & Profitability in business. While, Muscle Curl Fitness centre
have sufficient funds for different marketing techniques like advertising, price skimming,
promotion and many others for future.
Intangible Resources
It defines as assets or resources that can not be touched by people at physical level but
supports business activities for run smoothly. There are consisting of goodwill of brand,
intellectual property, patents, trademark, copyrights etc. With the help of these resources increase
profitability as well as sales of business. Such as, Muscle Curl Fitness centre set up in UK to
become financial strong in particular business (Dutta and Thornhill, 2014).
P3 Credible proposal to launch a new venture
Launching a new venture can be difficult for a business because there is no proper idea of
success chances. An entrepreneur will take advise and suggestion from the different types of
people in regard of business that helps to take feedback and understand the perception customer
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in regard of particular own business. It helps to determine and observing the future and present
state of the product. At the time of launching of Muscle Curl Fitness centre in Manchester, the
fitness centre focus on different aspects like vision, mission, objectives etc. Apart from this, the
research & development department collect all the authentic information for business and
analysis market needs and requirement that how individual will respond for the fitness centre
(Huang and et.al, 2017). It will assist the roles & responsibilities of individual working in
business to achieve all the goals & objectives. There are discussed credible proposal for Muscle
Curl Fitness centre:
Executive Summary: Muscle Curl Fitness centre is newly established by fitness centre
in UK where produce a plan to become financial stronger. For this select the particular business
ideas because in present time people become health conciseness and try to cover large market
area n order to enhance profitability of business. For this take decision of conduct proper market
research and collect information about the business.
Company Description: It is UK based fitness Centre that set up by an entrepreneur at
small level that become famous with the unique idea of roof top gym where people feel nature
and make effort for proper gyming. The business provide different types of equipments that
helps to stay fit and healthy in society. It is mainly target to young people who wants to proper
fitness in present time (Isele and Rogoff, 2014).
Market Analysis: To set up any business require to conduct market research that helps to
analysis the chances of success. Along with analysis that which types of factor impact on the
business performance in direct &indirect manner. To face different issue & challenges apply
Porters five forces model as well as PESTEL model for market analysis. Through these models
effectively determine market condition and effectively measure and solution can be applied.
Financial Projection: An entrepreneur take budget from the investor who wants to
invest their amount in good business. To start any business require to meet with different
expenditure that will apply on operational activities. For this prepare cash flow statements where
present cash inflow and outflow in proper manner in particular financial year. The shortage of
expenditure can be fulfilled by the loans and take from market and profitability can be invested
into business.
Bench marking: It means set a particular criteria that must to achieve by the business in
specific period of time. This helps to all the staff members to achieve set target and set full
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attainment of targets, achieve sustainability and existence in market for longer period of time.
For this require to Muscle Curl Fitness centre discuss about the business plan as per the aims &
objectives.
TASK 2
P4: Skills and capabilities requires to launch a new venture.
To launch new venture into UK market require to employer hire those people who have
already experience of particular sector. Along with analysis of skills and capabilities of people in
regard of particular product in order to launch and implement plan. These skills are helping to
achieve organisational goals and objective in effective manner which are discussed below:
Financial Planning skill: Financial sources are those sources which are scare and require
to effectively plan and more fund invested to set up business at high priority area and less in low
priority. It is effectively used by financial manager who have skills and abilities of estimation
and according to that arrange funds for future necessities. Such as Muscle Curl Fitness centre
have already a budget so according to that develop all the financial planning in proper manner
(Jiang and Tornikoski, 2019).
Marketing Skills: to run a business a business and attracting employees marketing is
important that help to influence towards a new product and services. With the help of marketing
skills sale of organisation has increases that increases profitability and productivity. In context to
Muscle Curl Fitness centre, marketing manager are highly skilled and capable to influence health
consciousness customers and make decision to join this. This skill will help new launch venture
to increase the number of customers with the help of promotional tools such as internet, banners,
you tube, posters etc.
Presentation skills: This is another important skills which is required to launch and
develop a venture effectively. If organisation is able to present effective about its products and
services with benefits then there may be a chances to grow effectively (Kuester, Homburg and
Hess, 2012).
Team building and problem solving skills : It is important skills that helps in
influencing employees and completing task effectively. To build new venture and develop the
products team building is important because it helps to solve the problem and develop the
business effectively. For instance, Muscle Curl is facing problems due to changing culture and
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increasing completion which is reducing profits. Herein, team is playing significant role as it
understand the problem of customers and employees and get them best solutions that helps to
increase the productivity and profitability.
From the above discussion it has analysed people are behaving differently in new venture
where skills are important to develop business and increasing profitability effectively. For
instance, Muscle Curl is require presentation skills, team building and problem solving skills,
financial planning and marketing skills that helps to maintain the operations systematically and
increase productivity by influencing people and convert then in to customers. If organisation is
having skilled and talented employees then only it can perform well that helps to take the
competitive advantages.
TASK 3
P5 Different types of promotional activities and channels for new venture
Promotional activities means actions which are taken by a organisation in order to
develop and increase awareness among people about new venture. If a new organisation and
products has been launched then there is required to conduct promotional activities which helps
to inform people and attracts them towards this. This can be consider as most important activity
used to attain the business goals by completing demands. In context to Muscle Curl promotional
activities are adopted by management in order to increase awareness is defined below:
Print and Graphic art media: This is consider as effective way of promotion which is
used to inform people about new products and services. In this, organisation uses print media and
graphics to aware the people and encourage them to buy them. For instance, Muscle Curl is new
venture that uses print media like brochures, news papers, advertisement and magazines in order
to provide messages about new venture and its services. This method help management to reach
mass population in different countries and create a strong local presence for making profits.
Social media and online promotions: Social media is the other option to inform and
aware people that helps to attain the business goals. This can be consider as crucial method
which can be used by Muscle Curl by advertising on social media such as twitter, Facebook,
Instagram, podcasts etc. can attract customers and increase organisational capabilities
effectively. This organisation create a web page and influence customers who are health
consciousness (Kuratko and Hornsby, 2017).
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In store marketing: This means some organisation are using in store promotional
activities in order to inform people that helps to increase the productivity. Such as Muscle Curl is
giving discounts and other facilities to its customers that helps to create a goodwill and
influences them to buy again effectively (Lee, and Lee, 2015).
Internet marketing: In an era, people are highly depends on internet system which is
used to increase promotional activities and increasing productivity by increasing number of
customers. Muscle Curl is a new gym centre that is require to inform people with the help of
internet market so, it uses blogs, Twitter,, video clips, virtual tours and image captions.
Moreover, management are uses e mail marketing that helps to aware people and increase
number of customers.
P6 Promotional activities plan for launch and pre launch
To develop a successfully plans there is need to have good promotional activities that can
help to increase the productivity and profitability. There are mainly two stages launch and pre
launch used by organisation to develop its business. Muscle Curl is applying launch and pre
launch activity in order to grabbing an attention of maximum number of customers and
increasing profitability. To enter in to new market management of such organisation are focusing
on best amenities and facilities that increases profitability.
Pre launch – It is the first step at which the management of Muscle Curl prepare a plan
and official website with the help of internet in order to inform people about trainers, nutrition
coach and all services that helps to live healthy and fit. All information are displayed along with
location and details are also involved in pre launch activity. This will help to capture number of
customers and provide them opportunity to increase business image by influencing customers
(Lim, Busenitz and Chidambaram, 2013).
Launch – This stage is require to complete the pre launching stage in which organised
has entered in to market with proper resources and capital effectively. In this stage, Muscle Curl
has finally launched by organising parties in which media members and other are invited
respectively helps to complete the goals and attain business profits. Moreover, business owners
answers the question asked by media that influence people and increase productivity (Liu and
Wang, 2018).
Financial consideration to start a new venture
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To starting any new venture and products there is require to face the financial needs that
can impacts on operations negatively. Muscle Curl's management has prepared a financial plan
that is defined below:
Limit overhead - The manager of Muscle Curl is require to attempts the constraints by
involving cost at earlier stage. It is important for organisation to focus on financial constraints
that can help to improve the organisational profitability. For instance, management of selected
organisation has launched new venture by putting resources, capital, decorate offices and
increasing designs that helps to perform well and increase profitability.
Track and screen spending – For any business organisation it is require to track and
screen the spending so productivity can be increased. In context to Muscle Curl, business owners
track and screen the spendings by involving all expenses that helps to gain maximum
profitability (Malach and Malach, 2014).
Invest appropriately – This is other term which is used by organisation through
investing amounts in their business. Investment is the part of business which is required to
increase operations and make profitability. Muscle Curl is investing capital and resources that
helps to maintain the productivity. For instance, to acquire land, machinery, equipments for
gyming and other facilities which customers wants are provided by management by making
appropriate investment decisions.
Tracking and monitoring expenses: While running a business it is important for
organisation to track and monitor its expenses so operation can be performed effectively. The
business owners of Muscle Curl track their all expenses and monitor it in case of excess that
leads to successfully operations. It can be more effective strategy that attracts customers and
increase profitability (Turner and Endres, 2017).
TASK 4
P7: Monthly cash budget for pre launch phase
Budget is the financial plan which is prepared by management in order to know the
income and expenses in relation to business. Cash budget is consider as estimated plan that
covers cash receipts and disbursements in a certain period of time. The business owners of
Muscle Curl that is new business, prepare a pre launch budget by utilising funds and raising
capital. The pre launch budget in context to chosen organisation is designed below:
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Pre launch cash budget
Cash Flow budget
Particulars Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
Cash inflows
Investment 10000
Credit sales 3000 4000 4000 6000 8000 9000 10000 1000 2000 3000 4000 3200
Total inflows 13000 5000 6000 7000 9000 10000 11000 10000 13000 6000 6000 7000
Cash outflows
Fixed : Equipment’s 3000 2000 2200 3000 2500 3000 2200 2330 4500 2100 1200 2300
Variable : Direct material 500 200 500 800 400 700 1500 760 800 1200 1200 300
Total outflows 3500 2200 2700 3800 2900 3700 3700 3090 5300 3300 2400 2600
Net cash flow 9500 2800 3300 3200 6100 6300 7300 6910 7700 2700 3600 4400
Opening balance 0 8000 10000 13300 16500 22600 28900 20000 26910 12000 12000 12000
closing balance 8000 10000 13300 16500 22600 28900 36200 26910 34610 14700 15600 16400
Interpretation – From the above budget it has interpreted that Muscle Curl is required to invest
money in to purchasing equipments, raw material and it receive money by providing facilities
and services.
P8 Appropriate legal form for venture
In business environment there are many organisations who are running their business by
operating activities and functions effectively. All organisations are having different legal
structure that helps to continue the operations in market and run business effectively. The legal
structure of different venture and legal structure are as defined:
Sole trader: This can be consider as simple type of organisation that can be start by
single person by following limited rules and regulations. In this venture, single person is
responsible to make decision and profits. There is no need to require high amount of capital and
resources.
Company: When number of people are collected to start and run a business under
companies act is consider as company. Herein, owner has separate legal entity from organisation
that states owners are liable for paying any debts and liabilities. It consider two types i.e. public
and private. Private company is owned by individual who enter in to market for the purpose of
earning profits. Whereas, public company is owned by government in order to improve the living
standard of people.
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Partnership firms: When two and more than two people are collected to run a business
together for the purpose of making profits is consider as partnership firm. This is based on
agreement which is decided by partners that helps to share profitability and liabilities of their
business (Zheng, 2012).
Legal structure of chosen organisation
From the above it can be consider as Muscle Curl is covered in partnership legal
structure because it is controlled by more than people on the basis of profit sharing ratio. The
reason behind chosen this organisation is now people are more health consciousness who wants
to get fit health. So, this idea has click in mind and a new venture is launched by partners under
partnership act. Various resources and capital used by partners in order to run and develop
business.
CONCLUSION
From the above report it can be concluded that there is require to have effective strategies
and plans to enter in to new market. To launch a new business a person should have resources,
skills, capabilities and budget plan that helps to assists how to launch and when. Intangible and
tangible resources are used to execute business plan in effective ways that helps to increase
productivity and profitability. Moreover, to launch any business owners should prepare a pre
launch budget that provide information regarding income and expenses.
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