Planning and Start Up of a New Business Term Paper

Pages: 12 (3480 words)  ·  Style: MLA  ·  Bibliography Sources: 4  ·  Level: College Sophomore  ·  Topic: Sports  ·  Buy This Paper

Planning and Start-Up of a New Business

Business PLAN for a STARTUP COMPANY

The present plan has been developed to offer the company an overview of the industry in which it would operate and the strategies it would have to implement in order to ensure a successful outcome.

General Company Description

Products and Services

Marketing Plan

Operational Plan

Management and Organization

The first part of the business plan will offer a general overview of the organization and the industry in which it will activate. This part will also describe the types of products and services offered by the startup company.

During the past recent decades, humanity has been increasingly focused on developing a professional career in order to improve the quality of their lives. However, this brought about increased levels of stress and reduced time for leisure activities. As a consequence, sports activities were rather neglected by the general population. But the increasing rates of obesity and heart diseases have opened the eyes of the individual and have once again revealed the necessity for physical workout. The new indoor baseball and softball training company comes to the aid of this purpose and will help all age groups preserve their health through exercise, while in the same time offering them a chance at performance.

Founded by three former national athletes, the new facility will offer training to all those interested in learning how to play the two traditional sports, regardless of age or previous expertise. The members will be organized into groups and the organization will also offer the possibility for private training. The three founders base the success of the indoor baseball and softball facility on the high commitment to satisfying the customers and the full dedication of their skilled coaches.

2. General Company Description

The company will be based in the Suffolk County, New York State and will operate in the category of Fitness and Recreational Sports Centers, under the code 713940. It will be established as a partnership company mostly because there are three friends and former national athletes who want to set the basis of the sports center.

The softball and baseball facility will encourage all group categories to sing in and will teach them how to play baseball as well as softball. The members will be organized into groups based on age and sports skills. The age groups will be formed in: 8 to 14, 15 to 18, 20 to 35, 36 to 45 and seniors, and the skills categories will be beginners, intermediary and advanced, the latter encompassing those that practice for performance. The center will also form teams to participate to local, national and even international competitions in baseball and softball.

The company's primary aim will be to create a sports facility that welcomes all individuals, regardless of age or previous experience with sports practicing. Its mission statement could be formulated as follows:

We are committed to creating a pleasant environment that will help members develop their baseball and softball skills.

Other major issues on which the organization will base their activity include a great dedication to satisfying the customers' needs, the hiring a team of specialized coaches, treating all members and staff with the respect they deserve and also sustaining the development of the community in which they activate. While doing all this, the ultimate purpose is to create a reputable name in the industry and community and also to register profits.

The industry in which the sports center will activate is a highly competitive and dynamic one, where survival is ensured by the core competencies and sustainable advantages of each participant. "This industry comprises establishments primarily engaged in operating fitness and recreational sports facilities featuring exercise and other active physical fitness conditioning or recreational sports activities, such as swimming, skating, or racquet sports."

The industry of fitness and recreational sports centers is currently defined by the next features:

total number of 25,036 facilities registering annual revenues of $11,61.6 million and employing 326,739 individuals

Health and Fitness is a $14.1 billion industry, serving nearly 40 million members in the U.S.A.

According to IHRSA (the premier health club industry association) health club memberships are projected to reach 50 million by 2010, representing a 25% growth rate from current levels

Nutrition and Weight Loss is a $44 billion industry

National trends toward obesity and heart disease point to demand for healthy living and exercise

Nationally, there is an increased awareness of exercise as an integral component to health and fitness"

The main features that will aid the new indoor baseball and softball company to succeed in such a competitive industry include its high commitment to entirely satisfying the needs of its customers, the highly skilled coaches and staff members as well as the usage of technological appliance which make the process more efficient and effective.

3. Products and Services

The indoor baseball and softball center will offer their members a wide variety of products and services described below:

Training services in baseball and softball for those interested, who will be organized into teams based on age and previous experience

Personalized training during private hours with a sole individual and a specialized coach

Members will be given the chance to sign up for the club's professional team, which will participate to regional, national and even international baseball and softball competitions

Parents and attendants will be able to remain within the facility while their children or partners practice sports; they will be able to wait in the club's coffee shop, which, aside from a wide variety of coffee-based beverages, soft drinks and snacks, will also offer 24/7 free wireless internet access, allowing as such attendants to surf the world web while waiting

The sports club will also have a personal shop which will sell high quality equipments, including sports ware, bats and balls, gloves or helmets

Upon request, for the future it could also be possible to open an outdoors stadium, for the practicing of baseball and softball

Also for the future and if demand exists, the sports center could delegate coaches to local schools and train teams of students within the comfort of their schools

The prices and fees for the products and service offered will be extremely competitive and in the beginning lower than those implemented by the competition. This strategy will help the organization form its own customer base. Once this desiderate is achieved, the sports club will implement a variable pricing strategy, meaning that promotional sales are no longer a core, but that the retail price is given by the forces that influence its formation, such as personnel or facility operational costs.

The indoor location will offer the benefit of training activities regardless of the natural conditions. In order words, whereas some sports centers cannot operate their outside courts during winter or when other meteorological conditions prevent them from it, the facility in Suffolk will not have this problem. The success of the organization will also be based on its main intents to promote a healthy life through exercise, its acceptance of all skilled and unskilled individuals, coming from all age groups, and also its promotion of American national sports and traditions.

References

2002 NAICS Definitions, U.S. Census Bureau, 2003, http://www.census.gov/epcd/naics02/def/ND713940.HTMl. Ast accessed on March 21, 2008

Business Plan for a Start-up Business, SCORE, Counsellors to America's Small Business, 2008, Retrieved at http://www.score.org/template_gallery.html. On March 21, 2008

Official Website of Extra Innings Indoor Baseball and Softball Training Center, http://www.extrainnings-margate.com/last accessed on March 21, 2008

Why the Fitness Industry, Bally Total Fitness, 2008, http://west.ballyfitness.com/franchising/whyFitness.asplast accessed on March 21, 2008

PART TWO

The second part of the business plan will be centered on revealing the market characteristics, including the competition in the baseball and softball industry in the Suffolk County. Then, it will present a potential marketing plan for the organization to implement, alongside with the management and the operational plan.

4. Marketing Plan

The aim of the market research is to help the three founders identify the characteristics of the market onto which their organization will activate. The primary data to be retrieved refers to the existence of competing sports club within the Suffolk County and the need and demand for a new baseball and softball center. In this sense, after conducting both primary and secondary researches, it has been concluded that:

There is a total of 45 sports facilities both indoors as well as outdoors within the Suffolk County, out of which 4 specialized for baseball only and 1 specialized for softball only

None of the five facilities which offer either baseball, softball, or even both, present the customers with such as extensive palette of products and services as the new club has prepared

Most adult clubs are interested in attracting skilled players to help them win competitions

Educational and youth centers do not differentiate the children based on skills and they seldom encourage performance

The new softball and baseball facility could easily penetrate the market by offering more comprehensive products and services, alleviating as such the shortages of the already existent sport… [END OF PREVIEW]

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