Market Analysis

Module 1 of Business Plan: Needs Assessment/Market Analysis

You are beginning your process of writing a business plan, a proposal usually geared toward potential investors, who will help finance your start-up for a health/fitness management venture. You will need to identify your target market’s geographic location (it has to be a real place). After identifying the location of your club or fitness center you will supply a market analysis that includes the following items:

I. Identification of key demographics for the area:

A. Average ages and age population splits in terms of percentages.

B. Average family incomes

C. Household demographics (% married, single, with kids, etc.

D. Average education levels

E. Gender splits (percentages)

II. Identification of key health issues for that population that you will need to focus on in your programming efforts.

Examples: 57% of population has high blood pressure

37% of population are young expectant mothers

40% of population are smokers

45% are young career people who are very sports oriented and active

III. Estimated number of members you will have, and the size of your facility that will accommodate that number.

IV. Establish Membership Fees and Special Packages (Family, etc.)

Since you will be relying heavily on secondary resources, make sure you document them accurately and in APA format.

 

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