Fitness AK: Applying the project management tools and principles to a business plan

Abstract

Fitness Alaska is a business opportunity centering on creating a fitness center near Palmer, AK in order to capitalize on growing demand for health and wellness. This project will focus on the creation of a business plan and document the research necessary to plan and predict the costs associated with opening a fitness center. The business will be concentrated on a medium space concept (7000-10000 sq/ft) based around cardiovascular and resistance circuit training, personal training, and a shake bar for members. The purpose of this project was to apply project management principles to create a business plan and assess the feasibility for a fitness center near Palmer, AK. Project Management lent a vital amount of structure to a process that was unfamiliar to the researcher, allowing work to be broken into logical portions and completed within a constrained time period. The Palmer surrounding area population grew by 14.3% between 2010 and 2015 and projects to continue. The market favorability and the gap in services for a medium sized fitness center in the Palmer area have created an opportunity to be filled. This project details the business case analysis of the Palmer area to make recommendations for such a business.