Market study: Fitness, Health and Wellness
Please see attached proposed membership/program operating pro-forma for a clear representation of the Market Potential and Opportunity
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- 9. COMPETITIVE COMPANIES IN THE MARKETPLACE
Please see attached proposed membership/program operating pro-forma for a clear representation of the Market Potential and Opportunity8. Risks and ChallengesNumerous risks and challenges exist for any entity entering the Fitness, Health and Wellness market or any new or expanded business venture for that matter…some of these include the following, most of which are intuitively obvious:
9. COMPETITIVE COMPANIES IN THE MARKETPLACEThe major commercial "players" in the market are identified in “Attachment B”. It was found by CMC that the competitive market, as defined by a 5 mile radius around the CSM campus, was fairly strong with several quality competitors there is still very good market opportunity for the type of facility and programs being recommended. Competitive Sites and Rate Analysis
While there are several facilities and programs that are very competitive with our concepts they primarily exist in the outer half of our competitive demographic area thus lessening there impact as direct competition. 10. Conclusion and Recommendation There exists a significant opportunity for CSM to develop a facility and attendant programs and services that will sufficiently meet the needs of the students, faculty and surrounding community. If designed properly this facility can provide for the curriculum driven and program driven needs of CSM while still providing the opportunity to generate additional program and membership revenue as indicated by the included pro-forma. Program and service offering should follow the example of the majority of benchmarking that has been provided and key on Lifestyle and Health management issues. Special attention should be paid to special interests and special interest groups and programs such as:
The facility design is extremely important and should provide, first and foremost, for flexible and multi-use space that can accommodate a wide variety of programs and service offered to the widest range of individuals with a focus on the Baby Boomer Generation. There should be ample space provided for one-on-one as well as small group meeting and consultation Attention should be paid to providing good control of access and egress as membership will require this….this implies a single point of entry and exit where possible. This not only creates control for purposes of safety and management but also allows us to staff the facility efficiently As described in section 7 “risks and concerns”, execution of any operating plan is paramount to the overall projects success. This is true of the design, development and equipment procurement pieces as well as the facility, program and service management. It is always sound advice to seek the assistance and support of professionals. As CSM has shown an awareness of this I will not dwell on the subject but will advise that generally it is never too soon to engage these groups in your planning and development process. In particular your decision to potentially outsource the management of key elements of your facility and/or programs should be made as soon as feasible as this operator will benefit greatly from having input into the facility and/or programs they will be retained to operate. Parking has been highlighted as a concern or “risk to success” for both SCC and CSM and it is recommended that an independent parking study be conducted for each site. Based on the membership and program levels contained in the attached pro-forma the increase in potential parking demand is estimated at 40-60 additional cars during peak usage times “Attachment A” Demographic Data Please see separate attachment entitled “Demographic Data” “Attachment B” Competitive Analysis Skyline CC – Competitive Analysis Rate Analysis
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