ENTREPRENEURSHIP INNOVATION GROUP ASSIGNMENT BUSINESS PLAN THE ROCK GYM

VIETNAM NATIONAL UNIVERSITY HCMC UNIVERSITY OF TECHNOLOGY MASTER OF BUSINESS ADMINISTRATION ENTREPRENEURSHIP & INNOVATION GROUP ASSIGNMENT BUSINESS PLAN THE ROCK GYM Group members: Truong Bao Thach – 2170312 Pham Thanh Trung – 2170297 Lecturer: Dr Truong Minh Chuong HCM City, 12/2021 TABLE OF CONTENTS Heading I Executive summary II Industry analysis Page III Company description IV Market analysis V The economics of the business VI Marketing plan VII Design and development plan VIII Operations plan IX Management team and company structure X Overall schedule XI Financial projections 10 12 14 15 16 18 19 ENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEUR SHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYM ENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTR EPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYM I Executive summary While observing gyms and fitness centers in Ho Chi Minh City (HCMC), we can see that customers have to wait for the equipment they were about to use for some time In addition, the current fitness centers in HCMC have become saturated Further, with the increasing popularity of powerlifting in Vietnam, powerlifting gyms will be needed Thus, the main purpose of THE ROCK GYM is to meet the needs of the inhabitants for a quality fitness center and a quality powerlifting gym THE ROCK GYM will include a fitness center with all the latest equipment and a powerlifting gym in one building (one in the ground floor and one in the first floor) which will offer specialized powerlifting equipment and powerlifting course What will make this business competitive on the market is the combination of a fitness- and a Powerlifting center which is not available in HCMC, and especially not in the center of HCMC where only fitness centers are available but not powerlifting gyms By running these two centers in a unified way, the purpose is that each center will weigh up for the cons of the other We emphasize on the importance of staff members being highly qualified and fully capable to take care of high demands of the customers In order to run, this project has to gather 500 million VND as initial investment The fitness center requires 200 million VND for equipment and will be able to service around 50 people at a time given that each individual spends no more than 1,5 hours at a time in the fitness center The powerlifting gym is relatively less expensive in cost of equipment because the demand for a powerlifting gym is less than demand for a fitness center, so less equipment will be needed (although price per equipment of a similar kind of powerlifting is higher) The powerlifting gym’s cost of equipment is estimated at about 150 million VND and will be able to service around 30 people at each course The facility needs to be able to meet minimum requirements of a fitness center Startup funding for other facilities such as shower- and locker rooms and staff expenditures accounted for around 150 million VND The funding for rent is not needed since the co-founders of the business already own premises near the center of HCMC (over 150m2 in District 10) The financial funding will be mainly acquired through investment from investors and loans from banks THE ROCK GYM will take a 150 million VND loan from Techcombank for five years with 10% interest rate and 350 million VND will be funded through investors with a required rate of return of 7% a year In that 350 million VND, the co-founders will fund the project with 100 million VND themselves In HCMC, there are a lot of fitness centers, but there is only one powerlifting gym, and there is no business that combines a fitness center and a powerlifting gym as one ENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEUR SHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYM ENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTR EPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYM brand Oldschool Barbell System is the biggest competitor It has been in the business of powerlifting gyms for years and is in direct competition with the powerlifting gym of THE ROCK GYM However, because of the high cost of renting, Oldschool Barbell System had to switch their place from District 10 initially (near center of HCMC) to other further areas from the center (District in 2018, and currently Binh Thanh District) What could give THE ROCK GYM competitive advantage over its competitors is first and foremost because of three aspects of its business which are: - Access both to the fitness and- and powerlifting gym; - Powerlifting instructors at sight for all customers and highly qualified employees - Spacious facilities specialized for fitness and powerlifting This can help social distancing practices be done more easily - No renting costs The demand for a fitness- and powerlifting gym is seasonal and is most intense in February, right after the Tet holidays and around summer The worst sought months are at the end of a year THE ROCK GYM’s target market which is 18 years old to 35 year old male and female living in HCMC ENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEUR SHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYM ENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTR EPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYM II Industry analysis First, we use the industry-related issues in Feasibility test to demonstrate the overall industry and thus the feasibility to conduct the project based on the industry analysis Number of competitors: Few = 0: There is only one competitor that dedicates a powerlifting gym, and no competitor combines a powerlifting gym and a fitness gym as one brand Stage of industry life cycle: Growth phase = 0: While fitness industry as a whole is at maturity phase, the niche market of powerlifting gym in Vietnam is at emergence phase Thus, we determine that the stage of industry life cycle is the growth stage Growth rate of industry: Moderate growth = 0: The industry is growing at a moderate rate with higher demand and increasing number of small-sized sellers Importance of industry’s products and/or services to customers: Must have = 1: The targeted customers (powerlifting amateur and professional athlete) need to use the services of a powerlifting gym that has competitive-standard equipment Industry operating margins: Moderate = 0: With few competitors, price is usually set high and service providers can get high revenue However, with the high cost of initial investment, operating margins can be partially affected With this Industry-related issues analysis, we can see that the potential of successfully conducting this business is relatively high (overall score = 1) Second, we apply Porter’s Five Force Model to analyze the industry First Application of the Five Forces Model Competitive Force Threat to Threat to Industry Threat to Industry Industry Profitability Profitability High Profitability Low Medium ENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEUR SHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYM ENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTR EPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYM Threat substitutes x of x Threat of new entrants Rivalry among x existing firms Bargaining power suppliers x of Bargaining power of buyers x Threat of substitutes: Health services is not just based on fitness centers and powerlifting centers There are many substitutes for what offers - Many substitute activities available in football, basketball etc - Relatively cheap and easy to substitute - If price increases rapidly at THE ROCK GYM it is more likely that the buyers substitute the membership cards for other activities Threat of new entrants: Everyone can follow our idea, however, not everyone can enter the market because we have the competitive advantage of having no renting cost (which is one of the major expenses in fitness industry business) - Economies of Scale: small scale - Service differentiation: moderate to high - Capital requirements: high initial capital required, we can cut cost of renting, while other businesses want to enter will have to have high fund - Cost advantages independent of size: none - Government and legal barriers: little to none - Nontraditional barriers: apart from the first-mover advantage (no one else has combined the fitness and powerlifting gym as one), there aren't any nontraditional barriers to entry ENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTR EPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYM VI Marketing plan Marketing strategy THE ROCK GYM’s marketing strategy will be customer driven; the main focus is to deliver more value to the customer than the competitors are doing THE ROCK GYM will offer their customers a more spacious facility and better-quality equipment, at just slightly higher prices The powerlifting instructors will help all of those that want to get started by building an exercise program for them Main purpose of THE ROCK GYM‘s marketing strategy is to:  Increase sales both at the Fitness- and Powerlifting Gym  Publish and promote the company and its services  Increase demand for the service that THE ROCK GYM provides  Build up and establish THE ROCK GYM as a brand name  Help those that need to get in better physical state This will be implemented:  Through advertisement in the media  B2B marketing  Through public relations by encouraging the employees to be active in writing articles on the internet, build up a good corporate image Advertisement Channels - Advertisement in stores, restaurants and theaters - Brochures and other printed material - Internet o THE ROCK GYM will have its own web page where special offers will advertise o Powerlifting instructors and others will write articles about health and other interesting material on the web Personal Selling: The B2B strategy will be reached through personal selling This strategy will be implemented to reach the powerlifting community in HCMC Public Relations: Public relations can have a strong impact on public awareness at a much lower cost than advertising can THE ROCKGYM will encourage its staff to write articles about exercise and healthy lifestyles on popular websites using the trademark of THE ROCK GYM This will hopefully increase awareness about THE ROCK GYM at a lower cost than traditional advertising 12 ENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEUR SHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYM ENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTR EPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYM Pricing: We will conduct the price-for-value approach However, we not want to set our prices too high at the beginning, in order to gain market share from other competitors THE ROCK GYM prices are positioned a bit higher than Oldschool Barbell’s prices, at million/person/year, compared to 5.5 million/person/year 13 ENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEUR SHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYM ENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTR EPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYM VII Design and development plan THE ROCK GYM will provide clients with a professional and modern training space and offer specially designed programs for variety, enjoyment and outstanding results The fitness programs at THE ROCK GYM aim to motivate every client and achieve the desired results Small group individual training programs (usually fewer than five individuals) are built to appeal to couples, family and friends, as they consider this option as a way to receive thorough instruction techniques and closely supervise individual training in a more economical way In addition, these programs will appeal to corporate clients who understand what it means to be fit, leading to less time off work, high energy levels and the ability to produce better results with a healthy mind Challenges and risks The gym industry in general and THE ROCK GYM in particular all agree that COVID pandemic is the biggest crisis and difficulty of the gym industry However, this is also an opportunity when there are fewer competitors and through the pandemic, customers focus on health more, which is an opportunity for THE ROCK GYM Currently, there is a part of customers who switch to home workouts, but not many because not everyone has a large space and full equipment, so THE ROCK GYM still has the opportunity to develop 14 ENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEUR SHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYM ENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTR EPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYM VIII Operations plan Operation Strategy The day-to-day operations of THE ROCK GYM will be focused on delivering exceptional group training services, within a positive and inviting atmosphere The key to the company’s operations strategy will be customer service, and putting the client's needs first All member's needs will be attended to on an individualized basis, each staff member will be aware of these needs to ensure that the clients have a positive experience during each session Scope of Operations The scope of operations will be focused in three areas:  Hiring qualified staff  Educating staff member on the importance of client relationship management  Delivering quality and personalized training programs that produce results Location THE ROCK GYM currently has a building for a new studio The location will have adequate parking, medium to high traffic, and within close vicinity to the target demographic The new facility will be approximately 150 square meter with floors and divided as follows:  large workout rooms  Office and reception area  Washroom and showers 15 ENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEUR SHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYM ENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTR EPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYM IX Management team and company structure Operation form THE ROCK GYM will be registered as a Ltd (private limited company) to minimize all expenses in founding the company and also to minimize the capital requirement The company will be registered at Ho Chi Minh City Board of Director and Board of Management: we have people, Mr Truong Bao Thach and Mr Pham Thanh Trung, as both co-founders and managers, and we are ready to welcome another third party to invest in THE ROCK GYM to be able to expand the business in the future Mr Trung will be the COO (Chief Operating Officer) and Mr Thach will be the CFO (Chief Financial Officer) Employees Part of THE ROCK GYM’s business is service oriented Its employees, e.g the receptionist and the Powerlifting instructors, are interacting with the customers and creating value In hope of adding as much customer value to the business as possible it is crucial that the employees are highly qualified and get support from the company - Managing supervisor THE ROCK GYM needs to be run by someone that has experience in business, preferably someone with an education in business administration Former experience from running a similar business is required The role of the managing supervisor is to supervise all factors of the business and observe if everything is running according to schedule His role will also be to see that the customer satisfaction is met and goals for market size are sustained - Powerlifting instructors There will be three Power lifting instructors which will divide the workload evenly between each other Prepare for them an exercise program and show those who want around the facility and teach them how to work each equipment This will hopefully help THE ROCK GYM to be compatible on the market and encourage those that have been wondering about getting started to get started in the hands of a professional - Reception / customer service There will be four receptionists / customer service positions all working half a day Or one receptionist with a fulltime job and the other two have a part time job Their main occupation will be to answer the phone and help those that want to business with THE ROCK GYM to sign up Their educational requirements are minimal but they need to have service motivation and be able to take initiative - Maintenance At THE ROCK GYM there is a lot of equipment that needs to be attended to on a regular basis The equipment has many movable parts that need to be lubricated to minimal wear and tear The customers’ demands that the equipment that he is intending to use will be working at its optimal so it is important that there is 16 ENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEUR SHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYM ENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTR EPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYM someone that will be able to fix the equipment right away There is a possibility that there will not be a person in maintenance on payroll but instead hire a contractor whenever something breaks But will be included as a staff member in the income statement Figure THE ROCK GYM’s structure Board of Directors Pham Thanh Trung, Truong Bao Thach, and TBA COO CFO Pham Thanh Trung Truong Bao Thach Managing Supervisor TBA Instructors Receptionists TBA TBA 17 Maintenance team TBA ENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEUR SHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYM ENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTR EPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYM X Overall schedule The success of THE ROCK GYM to achieve the milestones outline within the business plan is based on the following:  Increasing the client base by 100 members, within the first year of operation  Increasing the total membership base by 500 members, within the first five years of operation  Receiving the required financial start-funds from a commercial loan/grant and private investor(s)  Obtaining a suitable location(s) that will provide the necessary square footage and convenient amenities needed to operate the business efficiently and effectively  The Vietnam economy continues to escalate from its financial downturn, experienced in the last two years, and increases in jobless rate, which in-turn impact the disposable income potential for the target market 18 ENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEUR SHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYM ENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTR EPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYMENTREPRENEURSHIP.INNOVATION.GROUP.ASSIGNMENT.BUSINESS.PLAN.THE.ROCK.GYM