Introduction Our goal at Lifelong Fitness is to provide an atmosphere for individuals of all ages to succeed at reaching all of their fitness goals. To be the best in the competitive market, we need to supply state-of- the-art equipment to deliver optimum results for all customers with different needs.
History of Precor Established in 1980, Precor set the standard for quality, innovation, and performance in exercise equipment(Precor 2012). Precor has distinguished itself as a worldwide industry leader, providing state- of-the-art fitness equipment to health clubs, hotels, spas, fitness centers, and private homes all around the world (Precor, 2012).
History of Lifelong Fitness The mission of the business was to equip the “hardcore” fitness enthusiasts with the ability to use different types of equipment to increase strength and endurance. Many different people would come into our facility and take a tour, and at the end of the tour we would ask if they would be interested in joining our facility. ”. So the decision was made to renovate and create a more comfortable environment for the consumer; a pleasurable work out experience dedicated to helping everyone from the elite athlete, to an individual who is new to the fitness world and desires to become more fit.
Strengths: New Customers Bringing in new equipment prompted the fitness center staff to offer frequent equipment orientations and other incentives to celebrate, and become more comfortable with, the upgraded fitness center (Club and Resort Business 2011). Our equipment will also enable us to allow more clients to finish their workouts sooner giving them more time to use our other facilities therefore increasing their experience, and getting free advertising through word of mouth.
Weaknesses: Cost of EquipmentInnovation and newtechnology is expensive andadd cost passed on to theconsumer.For example, the Precor S3.15Strength System costs is$1,299.00 (Precor 2012). Wehave planned to add forty tofifty new pieces of equipmentwhich will cost roughly about$60,000.Cash flow would be reduceddue to the purchasing of thePrecor equipment
Opportunity: Open more facilities With an addition of new equipment our business will hold more “open houses” or “free guest day” events. These types of events will allow potential new members to have a complimentary work out and try some of the new equipment.
Opportunity : Expansion The new equipment would be able to help us expand by bringing in more revenue from customers. It will help us expand financially, connect better with customers, and staff satisfaction.
Opportunity: LongevityWith this investment itwill be able to servicea community of allages. As acompany, we believepeople will keepcoming back whichmeans repeatbusiness. This willpromote longevity forour company and itsmembers.
Threats: Competition Competition is fierce. All of the facilities close to us will be doing everything possible to try and attract new members to join, meaning they will be doing renovations and trying to add space to their facility or even just simply buying more up-to-date equipment.
Conclusion In this document I have shown strengths, weaknesses, opportunities and threats as to how Precor would effect our company. However, we believe that investing in Precor equipment will greatly benefit our training facility.