Good Report About Expanding Business
The Whole Body Fitness Training Centrelocated in Bethesda area has been in operation for several years. However, with time, the center started to experience some challenges that had been brought about by various factors. To start with, the facility lacked the key equipment such as the ones used in massage therapy and also the issue on excess numbers of customers that the gym couldn’t hold. These factors challenged the facility to come up with strategic plans to expand the business and better the services. The business devised new strategies to cope with the changes it was facing. Within a time frame of five years, crucial benefits had been realized in the center and a promising future was illuminating.
After five years of expanding the business to fit the proposed criteria, there was a notable elevation in customer satisfaction. This is due to limiting of the time wasted earlier on when customers spent a lot of time trying to locate the facility. Such achievements have been as a result of introducing more centers that are now widespread and thus access to them by the customers is not a big deal. Moreover, the booming numbers of customers witnessed earlier on the causing introduction of shifts for acquisition of services are now satisfied. Creation of more facilities has been able to cope with customers who were unattended before the expansion of the business (Arthur, & Hemingway, 2009).
The business has now increased the customer numbers since services that were attracting customers greatly are available in more locations due to the expansion. Availability of nutritional experts as well as professional trainers in more locations have led to more customers in the facility since customers are more interested in them than other services rendered (Funabashi et al., 2005). Expanding the business to attract new customers have yielded more populations since the training and fitness center is localized in more areas and yet maintaining the standards that attract a substantial amount of customers. The pie chart below shows the proportion of the population increase with the number of years since the expansion took root.
Revenue margins have started increasing considerably after the facility was more localized in other geographical areas. Business sales have been precipitated by the high population customers due to expansion of the fitness and training center in more locations. Certainly, high sales have effected increase in profit and thus the facility is destined to serge its customer population to greater height in order to raise the percentage profit in equal dimensions. The chart below summarizes the increase in income with regard to the number of years since the onset of the expansion five years ago (Funabashi et al., 2005).
It is worth noting that after the business was expanded in different geographical locations, more employees were needed as staff and the facility provided more opportunities in acquisition of jobs. Most of the individuals recruited into the training and fitness center are the locals in the places the new locations have been created. In so doing, the unemployment cases witnessed in the communities where the new facilities have been built are mitigated to a considerable level. This as a result has elevated the public relations the facility is now enjoying from customers who are attracted by the initiative put by the business (Seteroff et al., 2010).
Networking with various avenues that can result in increased number of customers has been a crucial element achieved by the training and fitness center. Liaising with institutions for instance, hospitals and other health facilities have encouraged them to refer their customers who require fitness attention in our business. Expanding to more areas have ensured covering of more ground where such organizations are found, therefore, enhancing the networking system. The business has successfully stood up as an exceptional training and fitness center and competitively succeeded to outdo competitors who have limited networking system(Funabashi et al., 2005).
More success has been achieved due to the integration of partnership strategies in the advertising sector. The training and fitness center has formed allies with other businesses to co-host events aimed at advertising their services and thus high costs associated with advertisements have been lowered. A small budget is a located in the advertisement sector and the business have further benefited from attracting more potential partners (Seteroff et al., 2010). Therefore, the objective of minimizing expenses and maximizing profits has been achieved leading to success witnessed in the Whole Body Fitness and Training Center.
Expenses have been split significantly and income increased after the business formed partnership with other businesses that deal with fitness issues. As a form of sharing expenses, the liaisons created with health institutions have enabled wooing of more customers who are referred to the center by these partners and in return, the income generated is shared among the partners. This strategic plan has benefited the business with more audience being targeted at different geographic locations resulting in increased income (Arthur, & Hemingway, 2009). However, the business has faced various challenges that are associated with expansion of the business. Identifying and overpowering the usual pitfalls related to progress has been important for the growth and success of the business. Importantly, it has been worth to make sure that the measures taken don't themselves generate extra complications in the future. Strategies have been employed to combat these challenges so as to achieve the objectives set in the expansion process of the training and fitness center.
The market has posed a great challenge to keep up with the center since business conditions have been changing drastically. Garnering information about what the market demands called for market research that was intensive to ensure outdated information was not used as a guide in the strategies set aside for the business expansion. Offering good deals was the only way to understand and woo customers and in turn, the business was able to succeed with vital information having been acquired about the market (Arthur, & Hemingway, 2009).
Implementing a plan that would attract more revenue was also a hard nut to crack. With the changing conditions surrounding the market, coming with a business plan that would suit these ever-changing circumstances have not always been an easy task. Moreover, being alert to the opportunities the business presented required the execution of the plan be a systematic one. Nevertheless, to suit these challenges, the business championed maintaining the already existing relations and customers who would aid in the business gaining more reputation to attract new customers as well as business partners. Diversifying the customers later followed and the business was able to attain more income (Seteroff et al., 2010).
Solving problems that propagated from the expansion which entailed perpetual crisis were plenty. Every day presented new forms of challenges that needed the attention of the business management to solve (Funabashi et al., 2005). Coming up with methods and tactics to overcome challenges for instances irritated customers called for the training and fitness center to embrace the most reputable strategies of dealing with such crisis. Recruiting the right workforce who are customer friendly was the first step to solve issues that pertained customer relations. As a substitute of handling each challenge as a one-off, the business established systems and arrangements that made it more-well off to address the challenges in the future.
In conclusion, the Whole Body Fitness and Training Centre was able to benefit from the plans that were put underway to ensure the business was expanded. The benefits that were realized ranged from an increase in profit to acquiring high customer populations and these aspects enhanced the reputation of the business leading to its success. However, challenges were evident, but with the endorsement of the right management system, it was possible to subjugate them. Operative leadership has helped make the most of the prospects, generating viable development for the future
Funabashi, M., Grzech, A., & IFIP Conference on E-Commerce, E-Business, E-Government, I3E. (2005). Challenges of expanding Internet: E-commerce, e-business, and e government : 5th IFIP Conference on e-Commerce, e-Business, and e-Government (I3E'2005), October 28-30, 2005, Poznan, Poland. New York, N.Y: Springer.
Rubinfeld, Arthur, & Hemingway, Collins. (2009). Built for Growth: Expanding Your Business Around the Corner or Across the Globe. Wharton School Pub
Seteroff, S. S., Campuzano, L. G., & Business Expert Press. (2010). Dynamic strategies for small businesses. New York, N.Y.] (222 East 46th Street, New York, NY 10017: Business Expert Press.
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