Assignment # 0183LA3
Ftness Management- Business Ideas
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Fitness Management – Business IdeasRobert Brown fiu Administration Of Fitness Operations
Creating a budget for the proposed fitness management business |
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PROPOSED BUDGET |
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STARTUP EXPENSES |
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ITEM |
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AMOUNT |
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Physical Location |
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$500,000.00 |
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Gym Equipment |
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$1,568,564.69 |
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Certifications |
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$800.00 |
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Mortgage |
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$67,567.95 |
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Legal & Processing Fees |
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$15,000.00 |
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Insurance |
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$315,500.00 |
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Building Improvements & Remodeling |
$100,000.00 |
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Computer Network & POS System |
$2,300.00 |
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Employee Uniforms |
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$1,000.00 |
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Miscellaneous Gym Supplies |
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$3,000.00 |
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Advertising |
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$5,000.00 |
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Responsive Website |
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$5,000.00 |
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Utilities |
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$800,000.00 |
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Operating Cash |
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$1,000.00 |
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Water |
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$6,873.65 |
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Electricity |
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$67,954.00 |
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TOTAL STARTUP EXPENSES |
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$3,459,560.29 |
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RECURRING COSTS (MONTHLY) |
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ITEM |
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AMOUNT |
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Mortgage or Lease Payments |
$67,567.95 |
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Insurance |
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$315,500.00 |
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Permits |
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$10,000.00 |
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Equipment Lease Payments |
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$8,000.00 |
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Utilities |
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$800,000.00 |
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Equipment Repairs and Maintenance |
$250,000.00 |
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Cleaning Supplies |
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$10,000.00 |
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Phone and Internet Service |
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$250.00 |
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Employee Wages |
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$10,000.00 |
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Payroll Taxes or Self-Employment Taxes |
$250,000.00 |
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Credit Card Processing Fees |
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$300.00 |
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Marketing |
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$1,000.00 |
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Legal and Professional Fees |
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$3,000.00 |
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Miscellaneous Expenses |
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$3,000.00 |
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Total Amount |
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$1,728,617.95 |
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Explain how you will create a safe Working environment in the fitness management business
There are several ways to create a safe working environment for the fitness management business. Keep the fitness facility spacious; fall vulnerabilities and hazards always result in clients' liability claims from the company. The only way to avoid this is when the is enough space left for the workouts and a good environment. All the essential areas accessed by the clients should be uncluttered to prevent unnecessary loss for the business.
Choice and maintenance of suitable flooring; ensuring appropriate flooring can reduce the risks and increase the client safety, fitness facility requires complex that cannot cause a tripping hazard. The fitness management should replace the worn-out carpet, and the floor should be kept generally tidy.
Practicing appropriate equipment use; most fitness facilities have very complex machines that, when handled inappropriately, can cause injuries and hazardous effects. Training clients on the proper use of fitness equipment is essential in ensuring their safety and helping clients to know the importance of involving a trainer when handling a kit for the first time. All equipment and tools within the facility should have instructions and guidelines that state their proper use.
Organizing smaller gear; most fitness facilities have different specialties; whatever the case, the gym should be kept tidy since the small equipment can be overlooked and just left on the ground ending up causing significant injuries to the clients. Shelves should help store such equipment to avoid unnecessary damages to clients and make it a lot easier for the client to access whatever they want.
The fitness facility should be Kept clean; fitness management should disinfect equipment regularly after use. And for the equipment such as jump ropes, mats and weights can be brought by the clients, especially in the case of yoga mats (Law K, et al. 2015). Equipment that gets heavy use should be adequately washed with clean water and soap. The provision of disinfectant wipes is also essential for clients to clean the equipment after use making it more hygienic for the following person.
Creating visual examples, the instructor can tune in to show the customers how the exercise is done by the different kinds of people, for instance, the amateurs, and the professionals.
Motivating the sales team: The fitness company primarily earns revenue through the trainers and the instructors' exceptional services. The team of trainers, therefore, plays an integral role in the prosperity of the fitness company. Given this relationship, the trainers' team's motivation plays an essential role in the company's growth. If the group is unmotivated, it will fail to meet its goals and perform dismally. The cause is done by providing them with the necessary resources, providing the team with feedback on their strengths and weaknesses, and offering them good pay.
Managing Emergencies
Fitness facilities are an essential builder of the economies through anticipatory governments’ health and safety. Thus, they must guarantee the health and safety of their clients and customers during emergencies. (Sekendiz, Betul & Norton, Kevin & Keyzer, Patrick & Dietrich, Joachim & Coyle, Ian & Gray, Shannon & Finch, Caroline, et al. 2018).
Every gym has an Emergency Plan in case of an emergency. There are basic emergency plans that state;
The emergency procedure would be documented on paper placed in a central place for all employees and the customers to memorize and adhere to emergencies. CPR/AED certification should be a mandatory requirement for all front desk staff.
There should be a word alert connected to the public address of the fitness facility. This should enable the employees to attend to the place where there is an emergency. Every employee and the first person should understand the coded information to reach CRP until the physicians arrive. At this point, the client's health history is vital, and the form is issued to the paramedics.
After completing the aid, the incident report is filled and given to the manager for record purposes.
Documentations needed in managing risk for business
The fitness industry is essential, especially in promoting health policies against health risk diseases such as obesity. It is inappropriate to design programs that, in turn, will cause more risks to the clients and the operators. Therefore, the business's benefit should have proper and comprehensive risk management in fitness is noticeable. In this concern, the risk of emergency circumstances at a fitness facility can be best accomplished by having suitable emergency plans and measures as part of the facility's general risk management program (Sekendiz et al., 2014).
In any fitness facility, there should be an assessment checklist of the fitness equipment.
The incident report should have particulars of the client, i.e., the person's name, address, and telephone number. Within the incident report, there should be time and the location of the incident, a complete description of the adventure, and the action taken.
The fitness facility should have a well-documented management framework consisting of the risk management policy that reduces the cost related to the risks of loss, and each fitness facility should have a structure with adequate resources to address the risk exposer of the fitness facility with the support of the management.
The fitness facility should also have a well-documented Training Programs manual with comprehensive lists of all significant measures and practices, which should be in place to help ensure a well-managed and harmless operation. These measures and approaches will help provide a Gym-managed process that includes the most highly recommended management controls.
References
Sekendiz, Betul. (2014). Implementation and perception of risk management practices in
health/fitness facilities. International Journal of Business Continuity and Risk Management. 5. 165-183. 10.1504/IJBCRM.2014.066148.
Sekendiz, Betul & Norton, Kevin & Keyzer, Patrick & Dietrich, Joachim & Coyle, Ian & Gray,
Shannon & Finch, Caroline. (2018). Emergency preparedness in fitness facilities: bridging the gap between policy and practice. International Journal of Business
Law, K. (2015). What Drive the Consumers to Buy Yoga Studio Services? Evidence from Hong
Kong. Journal Of Yoga & Physical Therapy, 05(03), 1-5. https://doi.org/10.4172/2157-7595.1000199Continuity and Risk Management. 8. 71-85. 10.1504/IJBCRM.2018.10011673.