Business Expansion
Team C
ENG223
February 22, 2016
Nancy Delain
Table of Contents
List of Illustrations 3
Abstract 4
Introduction 5
Purpose 5
Background 5
Problems 6
Startup Costs 6
New Market 6
Discussion 6
Solution 6
Profit/Loss Potential 7
Loan Terms/Repayment Schedule Monique 7
Volunteers 7
Similar Business in Area 7
Market Analysis 7
History of Current Location 8
Revenues 9
Client Satisfaction 8
Conclusion/Recommendations Monique 10
Glossary All can add to this page with any words they use in their section 11
References Everyone can add and cite their references 12
List of Illustrations
Table 1. Startup costs for Riverside FIT & FUN Gym location
Table 2. Riverside Population Statistics
Table 3. Loan Amortization Schedule Monique?? 7
Abstract
FIT & FUN Gym has been open in Corona, CA for the past seven years. This report will not only justify our actions for wanting to expand our business but also go into detail about what the expansion will cost and how we expect the new location will profit. In this report, we will discuss the following:
A background of our current business model
The startup costs for a second gym expansion
Describe the new market FIT & FUN will be entering
Consider the profit potential
Cost saving measures we plan to take throughout construction
New amenities to be offered at the new location
BUSINESS EXPANSION
Introduction
Purpose
“The need of the organization to grow must be tempered by the need to understand that meaningful, long-term, profitable growth is a by-product of effective management and planning.” (Collier Hillstrom & Hillstrom, 2007, pg 123-124) We, at FIT & FUN Gym, Corona have spent many hours planning and researching if an expansion would be a good fit for our business model. After much deliberation, FIT & FUN Gym is excited to present the...