Figure 6.2 Buyer Behavior In Prime Adult Fitness Business

Figure 6 2 Buyer Behavior Prime Adult Fitness Business Planthe Follo

Figure 6 2 Buyer Behavior Prime Adult Fitness Business Plan The following are factors that affect the fitness club purchase decision for people in Prime Adult Fitness’s target market: · Motivation- Motivation remains the key to recruiting new members and keeping them engaged. According to a survey commissioned by Mintel, 67 percent of nonfitness club members said they would join a fitness club if they knew the activities would keep them motivated. · Income level. People with incomes of $75,000 or more are most likely to join a fitness center, a statistic that works in favor of Prime Adult Fitness. A total of 44.2 percent of households in Seminole County, Florida, have incomes levels of $75,000 or more, which is well above the national average. · Lifestyle. It is estimated that the more mature market will maintain a more active lifestyle (than mature people in the past) and will continue to focus on physical appearance, maintaining proper weight, and general well-being. These trends suggest strong opportunities for fitness centers that will help mature people meet these objectives. · Environment. Older people prefer to exercise in an environment that is tailored for their specific needs and stage in life, as noted in the target market section. To illustrate how deep these emotions run, the following is a sample of quotations taken from our survey of 196 people in Seminole County, Florida (all 50 years old and older), who were asked to comment on how they feel about fitness centers in general: “I enjoy my fitness center, but it caters primarily to people who are young and thin. To be honest with you, I’ve reached a point in my life where I want to be working out with people my own age.” (Retired Homemaker, age 69) “I’ve tried several aerobics and exercise classes over the years, but the pace was always too quick. I enjoy water aerobics, but the classes don’t meet at a convenient time for me. I think that because the people who run the place (the fitness center) are all in their 20s and 30s, they don’t think too much about us older folks.” (Insurance Agent, age 61) “My husband died when he was only 68. He was overweight and never exercised. That scares me. I’m 71 now, and I want to live long enough to see my grandchildren grow up. I should join a fitness center and start exercising, but the choices confuse me. I wish someone would take me by the hand and show me what to do.” (Retired School Administrator, age 71) · Programs and facilities. Older people prefer a different mixture of programs and different types of fitness machines than the population in general. As a result, older people who belong to all-purpose fitness centers are frustrated with exercise machines and programs that often don’t suit their specific needs. To illustrate this point, the following is a comparison of the 10 most popular program offered by all-purpose fitness centers opposed to the 10 programs preferred by the 196 Seminole County residents 50 years old and older in our survey: The survey illustrates the potential benefit of tailoring a fitness center specifically to 50+ individuals. Top 10 Programs Offered by All-Purpose Fitness Clubs (in order of popularity) Top 10 Programs Preferred by a Sample of 196 People 50 Years Old and Older in Prime Adult Fitness’s Trade Area 1. Free weights 2. Treadmills 3. Resistance machines 4. Elliptical trainers 5. Stretching 6. Abdominal machines 7. Stationary cycling 8. Low-impact aerobics 9. Yoga 10. Stair-climbing machines Not in list of top 10 programs offered by all-purpose fitness centers. Source for Top 10 Programs Offered at Fitness Clubs: International Health, Racquet & Sportsclub Association’s (IHRSA) 2012 Trends Report Top 10 Programs Preferred by a Sample of 196 People 50 Years Old and Older in Prime Adult Fitness’s Trade Area 1. Low-impact aerobics 2. Treadmills 3. Yoga 4. Fitness evaluation 5. Stretching 6. Nutrition and lifestyle classes 7. Indoor walking track 8. Elliptical machines 9. Strength training 10. Water aerobics · Location of exercise. People who are 55 years old and older are more inclined to exercise indoors than any other age group. This statistic is particularly important when considering a Florida audience, which may be more inclined to exercise indoors as a result of the heat and humidity. · Health concerns. According to a 2011 report by the Centers for Disease Control and Prevention, about 80 percent of older adults have one chronic health condition, and 50 percent have at least two. Infectious diseases (such as the flu) and injuries also take a disproportionate toll on older adults. As a result, access to physical therapy and exercise regimes that address these problems is important to this age group. · Social interaction. Older people often crave positive social interaction with their peer group. As a result, fitness centers that provide opportunities for social interaction and provide open spaces with tables and refreshments where people can gather and socialize have an advantage. Sheet1 Template-A (for LASA2) Part 1: Collections and Payments JAN FEB MARCH APRIL MAY JUNE JULY AUG SEPT SALES 162,,,,,,,,,000 Put Your Data Here Part 2: Net Cash Flow for the Month MARCH, APRIL, MAY, JUNE, JULY, AUG, SEPT Total Receipts $185,040, $299,640, $459,480, $563,600, $415,440, $295,600, $158,440 Put Your Data Here Part 3: Surplus or Loan Requirements MARCH, APRIL, MAY, JUNE, JULY, AUG, SEPT Put Your Data Here Sheet2 Sheet3