Description
1,000-1,500 words
- Conduct preliminary market research for your venture, and write a paper of 1,000-1,500 words that responds to the following questions:
- What is the scale of the industry (in units and dollars)?
- What is the scope (geographical range) of the market? Isit local, regional, national, international, or global?
- Is it a niche industry, or does it reach a mass market?
- How profitable are the players in the industry?
- What trends are occurring in the industry?
- What competition is in the marketplace, and what are they doing?
- Include visual aids where they are appropriate.
-The business venture I have chosen is a fitness facility/strength training program.
Explanation & Answer
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Running head: OUTLINE
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Outline
Name
Tutor
Institution
Course
Date
OUTLINE
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Lit for Fit fitness facility marketing analysis
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Lit for Fit is a business venture that focuses on body fitness and strength training
programs.
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Lit for Fit is focused on meeting the fitness goals for various people that are associated
with exercise.
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In addition to this, the individuals will also boost their confidence by attaining their
desired body shapes.
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A report by International Health, Racquet and Sports club Association (IHRSA),
indicates that the Health and fitness industry in the U.S is currently worth $30 billion.
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The majority of the employers and insurers are opting to spend on health club
memberships or studio training provided the workers can give evidence of utilizing such
facilities.
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The health and fitness industry is an international business because worldwide,
individuals are focusing on ways of attaining general health and prevent the negative
impact of unhealthy lifestyles.
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The focus of the media on the various advantages of fitness and the importance of
reducing obesity is also opening up new approaches for the target market in the industry.
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In the last decade, the health and fitness industry has experienced tremendous growth.
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The majority of the customers in the industry prefer a convenient travel route with little
traffic and the fastest access to the training facility compared to a cost-effective facility.
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Currently, the customers are getting involved with fitness and health companies or
facilities more than any other time in history to improve their healthy lifestyles.
OUTLINE
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Each element of the health and fitness industry is projected to grow in the coming years
continually; therefore, investing in the industry is very rewarding.
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According to the IHRSA, it is the quickest growing enterprise by a whole 121% between
2013 and 2019.
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With the idea of good health and mindfulness becoming more popular for customers,
fitness and health have become a fundamental goal for the majority of people.
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The professionalism associated with the training facilities is the most significant
influence for visiting them.
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The health and fitness industry has tremendously grown in the past, and despite this,
health and fitness facilities are highly recurrent and competitive businesses.
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To deal with the competitive market, the fitness clubs are extending their...
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