Task 2

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Birla Institute of Technology & Science *

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G520

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Management

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Nov 24, 2024

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BOUNC E FITNES S Business Plan

Business Plan

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Board of Directors & CEO C h i e f F i n a n c i a l officer O ffi p e c r e a r t i o n s G e n e r a l M a n a g e r HR Manager Manager Marketing Manager Brisbane Manager Gold Coast Introduction Bounce Fitness is made up of four fitness centers. Head office is currently established in Cairns, Queensland. The other centers are in Brisbane, (Queensland), Sydney, (New South Wales) and Melbourne, (Victoria). It is the intention of the Board of Directors that a new centre will be opened in Perth, (Western Australia).It was established in 2001 by Margaret House as a single aerobic studio. After two years membership increases demanded the small leased centre be expanded and a new facility was built on land purchased by the organization. In 2004 a second centre was established in leased premises in Brisbane and then Sydney and Melbourne in the subsequent two years. The Head Office remains in Cairns and a Board of Directors has been established to oversee the function of the business in all of the centers. Each centre has a Manager, who reports to the CEO in Cairns, and a team of permanently employed fitness instructors and other casual instructors, all of whom report to the Centre Manager. Organization chart Mission Statement The Centres will serve the community with quality, comprehensive, unique, and distinctive health programs and services. The employee team will expand upon the preventive services while improving the quality of life among participants through health and fitness services utilizing state of the art equipment and practices. These programs will reflect members’ needs and be financially viable for all stakeholders.

Vision Statement Bounce Fitness is committed to an expanding role as a premiere provider of wellness integrated services. Through the evolvement of an empowered employee culture and the creative acquisition and use of resources, we will develop and implement comprehensive programs and services appealing to all. Values We hold ourselves and co-workers accountable for building trust with our members and each other by being honest, ethical and consistent in what we say and do. Teamwork We are committed to empowering our internal teams and external members with the appropriate resources to effectively achieve our common vision. Market Summary Bounce Fitness possesses good information about the market and knows a great deal about the common attributes of the prized and loyal customers. This information will be leveraged to better understand who is served, their specific needs, and how Bounce Fitness can better communicate with them. M arket Demographics The profile for Bounce Fitness’s customers consists of the following geographic, demographic, and behavioural factors: Geographic ➢ The immediate geographic targets are the cities of Brisbane, Sydney and Melbourne. ➢ A 35 mile radius is in need of the services. ➢ A total targeted population is 15,800 employees. Demographic ➢ 51%:49% male:female. ➢ The individual income range is $38,000-$75,000. ➢ 67% of the customers are single, 33% are married. ➢ For the manufacturing customers, 43% have some undergraduate course work. ➢ For the corporate customers, 83% have some undergraduate course work, 16% have undertaken graduate course work. Behavioural ➢ Recognise the need to have physical activity in their lives. ➢ Have incorporated some sort of exercise program in their daily/weekly routine for the last several years. ➢ Are willing to utilise fringe benefits that are offered by their employer as part of their compensation package.

Market Needs ➢ Bounce Fitness is providing their customers with a health care cost management program for employees that will increase employee productivity and decrease overall business costs. Bounce Fitness seeks to fulfil the following benefits that are important to their customers: ➢ Customisation: Bounce Fitness will offer a totally customised solution for each company as well as each employee within the company. ➢ Convenience: Client will not use the service if it not convenient. Bounce Fitness recognises this and strives to make their services as convenient as possible for the targeted client groups. ➢ Result-oriented strategy: Bounce Fitness will need to improve a company’s bottom line in order to attract and maintain customers. While Bounce Fitness will strive to address all of their clients’ needs, the reality is that they must indeed provide significant value for the companies themselves in order to grow their market share. Market Trends There are two significant market trends in the last five years. Increased usage of fitness facilities on behalf of individuals. Exercising and ‘working out’ has become a more mainstream activity in Australia’s lives over the last decade. Five to ten years ago there were widespread reports about an impending health crisis-obesity. Australians, relative to their Western counterparts have higher incidents of obesity. To a large degree, this is correlated to Australia’s unhealthy diet of fast food, and generally poor food choices, especially fried foods. The poor diet is not the only factor however. Australians were fairly inactive, with only 19% of people aged 20-40 exercising three times a week. Luckily, that has changed over the last 10 years. The percentage of active people has increased to 43% as of 2002. More and more people are going to the gym after work or are incorporating some sort of outdoor activity into their daily routine. The incorporation of fitness memberships within the ‘basket of benefits,’ are now a part of the total compensation package. As fitness memberships have become a more common element in the working Australia’s lives, companies have come to incorporate membership as part of their benefit package for employees. This has occurred for at least two reasons. One reason is a flexible method to compensate employees. The second reason is that is has a positive effect on a company’s bottom line. Study after study supports the contention that a physically fit employee is happier, healthier, and more productive. For no other reason, offering fitness club memberships to employees is a smart cost-benefit decision. Market Growth

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Important demographic changes are taking place in Australia that point to the importance of worker productivity in coming decades. ➢ 16 million new jobs will be created by the year 200X, but there will only be 14 million workers to fill them. ➢ In 2000, women comprised one-third of the work force, a ratio that increased to one- half by 200X. ➢ An estimated 80 percent of jobs to be filled in the immediate future will require more than a high-school education. Only 74 percent of Australians, however, finish high school, and only 67 percent graduate with adequate skills. ➢ The number of skilled workers available to fill new jobs is decreasing, meaning that employers are facing more severe competition for labour. Thus, the health and productivity of each employee becomes crucial to a company’s success. The following quantitative information has supported explosive growth in the health wellness program industry. The last five years has seen a 9% growth rate and the next five years is expected to achieve a 7% growth rate. Accountability We hold ourselves and our co-workers accountable for our behaviours and responsibilities as they affect us, our members and our culture. Quality We are committed to continually leading the fitness industry by providing the highest standards of quality to our members, through services, programs, and community relations. Environmental Scan SWOT Analysis The following SWOT analysis captures the key strengths and weaknesses within the company, and describes the opportunities and threats facing Bounce Fitness. ➢ Strengths -Results-oriented approach to attracting and maintaining customers A well-researched, detailed health wellness program that is long-term in focus Intensively trained staff. ➢ Weaknesses - High costs associated with customized, personal service The inability to work on a high volume business model The costs of attracting a large corporate client ➢ Opportunities -Participation within a growing market The large increase in clients that follows with the acceptance of Bounce Fitness’ program by a Single company. The ability to leverage future quantitive analysis that supports the contention that long-term

➢ Threats - Lack of immunity to an economic downturn. Potential competition from larger, well established competitors A change in society where the individual begins to take far more responsibility for his/her health maintenance. Cost benefit Analysis C os t Bene fit 1: cost for new staff, brochure, advertisement will $1000 1:company will get goodwill I the market and can raise their income. They can survive in the competitor market. 2: cost for the employee training which is a main requirement for company it will be $3000 2: They could get more experienced and employee to provide better services to the customer. They can attract more customers. Key personnel Key Result Area Objecti ve Leadership Leaders at all levels in the company actively encourage and promote workplace diversity principles. Recruitment, Selection and Retention Employees and those seeking employment with the company are treated fairly and equitably in accessing employment opportunities and in selection and promotion processes. The company increases the representation of Indigenous employees, employees with a disability, and younger workers in its workforce. Working Environment Managers and staff have the skills and knowledge to prevent and deal with any harassment or bullying behaviours. Workplace diversity principles are integrated into the performance management process. Communication and Education The Workplace Diversity Policy is accessible and its principles are understood and supported by managers and staff. Work/Life Balance The company provides a flexible employment framework which enables employees to effectively balance their work, family, caring, other responsibilities and interests. According to the information from above table, each group of employees needs a different style of management and they all need to find ways to work well together.

Managers need to help their diverse workers integrate into their workforce and assimilate into and feel part of their organisation’s culture so that they can contribute fully. Managers also need to help their diverse workers develop the skills, knowledge and attributes organisations need their employees to have. In most work groups today, it can be easily found men and women from four generations, many of whose first language is not English, who have a range of abilities and come from an array of cultural, religious and ethnic backgrounds. It can summarize into attitudes towards work by this following: o Expectations from work o Factors that motivate and engage them o Reasons for working o Reward and feedback expectations o Values and beliefs o Ways of working Therefore, the new diversity policy should be based on the above information which can be described in the following table: The diversity policy for Bounce Fitness - A workplace which is free from discrimination, harassment, bullying, victimisation and vilification - Treating employees fairly and with respect - A workplace culture that is inclusive and embraces individual differences - A supportive workplace culture which allows employees and members to balance their work and personal life. - Equal employment opportunities based on ability, performance and potential - Awareness in all staff of their rights and responsibilities with regards to fairness, equity and respect for all aspects of diversity - Flexible work practices and policies to support employees and their changing needs - Attraction, retention and development of a diverse range of talented people - Equitable frameworks and policies, processes and practices that limit potential unconscious bias

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- Develop and maintain a highly skilled, diverse and effective workforce, where all employees and members are valued, encouraged and provided with opportunities to develop their potential.

Require staffs Key result area Objectives Actio ns Responsibility Timeframe Success measures Recruit me nt, Selectio n and Retentio n Employees and those seeking employment with the company are treated fairly and equitably in accessing employment opportunities and in selection processes. The company increases the representation of Indigenous employees, employees with a disability and younger workers in its workforce. The company improves retention through better identification of members of diversity groups; increased support for them; changing the company culture; and improving opportunities to develop work skills. RECRUITMENT (a) Include use of Indigenous media for advertising. (b) Support / publicise the National Indigenous Cadetship; Graduate Recruitment; and Contract Management Development Programs. (c) Jobs to be advertised are reviewed for their inherent requirements by concentrating on what needs to be achieved rather than how the work should be done. (d) Increase access to jobs for people with disability SELECTION Ensure selection processes that involve Indigenous applicants and members of ethnic or other diversity groups are fair and those involved in interviewing are sensitive to cultural issues. Payroll, Recruitment and Workplace Relations Payroll, Recruitment and Workplace Relations Organisational Development All staffs of the company Report: Annually Action: Ongoing Indigenous staff recruited under the specific programs. Increase in number of Indigenous employees, employees with a disability and younger workers in the company Practical information available for selection advisory committee members. RETENTION (a) Encourage all employees and

particularly members of diversity groups to update their APSED details. (b) Encourage line managers to work closely with new recruits to identify issues early, e.g. ease of access, and implement solutions. (c) Ensure reasonable adjustment policy is promoted and implemented. (d) Wherever possible allow employees some flexibility in tasks and times to accommodate their disability or caring responsibilities, as well as using their other strengths.

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Product and service of Bounce Fitness (Service Offering) Bounce Fitness provides wellness strategies/programs to businesses in the main business centre of the cities. A wellness strategy is a long-term effort, combining both health- promotion and exercise-related activities designed to facilitate positive lifestyle changes in members of a company’s work force. Bounce Fitness will work with a company’s senior management to help it develop a mission statement for its wellness program. The client company’s employees will undergo a health-risk analysis, following which each employee will be given the opportunity to meet with a health professional to design a personalised health program.Finally, Bounce Fitness will furnish employee progress reports to senior management with which to carry out the incentive program and generally monitor changes in the behaviour of its workforce.

Risk management Risk Assess Risk Controls Monitoring Timeline s Responsible Problems generating visibility. low Continuous implementation of marketing strategy. Continuous monitoring of foot traffic/revenue. Continuous monitoring of market/marketing research. Monthly Rufus Belcastran/ Emma Belcastran

Aggressive sales tactics by competitors. high Continuous implementation of marketing strategy to highlight key points of difference between us and competitors. Increased frequency of promotional campaigns. Selective discounting. Continuous monitoring of competitors campaigns. Monthly Rufus Belcastran/ Emma Belcastran Emergence of a competitor within very high Continuous implementation of marketing strategy to highlight key points of difference between us and competitors. Increased frequency of promotional campaigns. Selective discounting. Continuous monitoring of competitors Monthly Rufus Belcastran/ close proximity. Adjustment of marketing strategy to ensure differentiation and appropriate positioning of Bounce Fitness in order to compete effectively. campaigns. Emma Belcastran Difficulty sourcing or training skilled and experienced staff. mediu m Targeted advertising in trade magazines and online. Promotional focus on training and development opportunities. Regular training for existing staff. Investigation of competitor wages and seek to match or better if viable from budgetary perspective. Monthly Rufus Belcastran/ Emma Belcastran Continuous monitoring. Daily monitoring and Daily Rufus Belcastran

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W as ta ge fr o m po or in ve nt or y m ai nt en an ce . D a i l y c o n t a c t w i t h s u p p l i e r s . a n t i c i p a t i o n o f d e m a n d .

Locker for customers 1/7/2019 $10,000 Legal considerations Relevant legislation may include: ➢ Health and safety ➢ WHS ➢ Hanking implications following global financial crisis (GFC) ➢ Industrial relations (IR) laws ➢ Possible packaging and labelling laws inter of vitamin for gain weight ➢ Increasingly stringent environmental laws ➢ Traineeships and funding. Operations Process Bounce Fitness grinds and prepare sport activities and prepares high quality of gym workout on site daily. All equipment are delivered daily from suppliers. Trainers are well trained with certificate prepared in accordance with SOP procedures and Bounce Fitness control and hygiene standards, available to staff in the employment handbook provided to all staff on induction. Suppliers Current Bounce Fitness suppliers are: ➢ General shop Supplies and Maintenance ➢ Plant and equipment ➢ CoffeeVille Business Plan 2011/12 Equipment Purchase date Purchase price Products display cabinet 1/7/2019 $10,000 Tables and chairs 1/7/2019 $10,000 Gym high tech equipment Refrigeration unit for bottled drinks 1/7/2019 1/7/2019 $40,000 $10,000

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Task 2

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