A PROPOSED

ENTREPRENEURIAL BUSINESS
PLAN FOR A FITNESS CENTER
IN SINGAPORE
PROJECT NAME : FOR A BETTER & HEALTHIER LIFE
COMPANY NAME : SINGAPORE FITNESS CENTER
SUBMITTED BY:
STUDENT NO:
BATCH NUMBER:
LECTURER:

Company Description
Company Name: Singapore Fitness Center (Fitness Center)
Industry Background:
-

Fitness is a growing industry in Singapore

Fitness Center is totally new venture in Singapore

having to cope with a number of challenges

Goals & Potential

-

Reach the leading position in fitness industry in Singapore

Decrease overweight rate while increasing healthy rate

Contribute to build a healthy community

Target market
-

Working people: focuses on working people whose average salary is around 2.000
3.500 SGD or higher income level

People who feel unconfident about their body: people who want to lose their weight
and want to take part in our weight programs

Product/ Service Innovation

Provide effective programs and guides the customer directly by

professional trainer

Help our customers easily achieve their training objectives

Offer our customers with many classes like Modern dancing,

yoga or losing weight class

Having massage sauna room, for serving customer who trained

Locate in Raffles Place

A convenient and accessible place

Serve all days of week, from 6 a.m to 12 p.m

Marketing Plan
Product

Offer a wide range of selection from gym, modern dancing, yoga, losing weight class or
massaging

Provide the services as well as get the feedbacks from customers after training from counter
Advise and suggest customers or make adjustment to get better.

Pricing
The price is based on the income of potential customers

Silver member: 90 SGD

Gold member: 120 SGD

Note:

The cost of Silver and Gold member is slightly different as customers will have more promotion with Gold

member and higher helpful information about their programs of losing weight and body

building.

Promotion and Advertising

Set the counters to introduce and advise people who interested in our programs

Advertise interesting services through mass of media like radio, newspapers, and channels.

Place

Fitness Center will be set on the Raffles Place, 323 Building top-floor, 600 square meters.

Management Team
Management
Team
Top manager
Ms. Huong

Operation Manager
Ms. Huong

Manufacturing
Manager
Ms Monika

Name
Ms.

Marketing Manager
Mr. Kelvin

Graduation

(YOUR Bachelor

of

HR Manager
Mr. Anthony

Experien

ce
Business 5 years

NAME)
Ms. Monika

administration
Expert
of

Mr. Kelvin

Development
Master
of

Mass 4 years

Mr. Anthony

Communication
Bachelor
of

Business 4 years

Development

Business 5 years

Company Structure &

Operation
Company Structure
Full name : Singapore Fitness Central
Headquarters: D01 Cecil, Marina, Raffles Place, Peoples Park
Phone: [Your Phone]
Mobile: [Your phone]
Email: [your mail]
Investor: [your name, your friends name]
Business product: Fitness service
Business markets: Singapore
Type of Business: Partnership Limited Company

Operation
Open: 6am
Close: 12pm
Open all day in week

Service Growth & Development Plan

Market

Penetration

is

the

most suitable:
- Be the least risky method
-

Can take advantage of all

existing resources as well as
capabilities

Source: www.edrawsoft.com/ansoff-matrix.php

Financial Projections
Start-up
Expense
Funding
Investors

SGD

(YOUR NAME)

450,000

Ms. Monika

450,000

Investor 1

150,000

Investor 2

150,000

Startup
Application of funds

Singapore dollars
(SGD)

Salaries (1year)
Advertisement
Total Equipment
Rent (3year)
Insurance
Electric and water
Other cost
Total

210,000
7,000
191,000
720,000
4,000
3,000
5,000
1,140,000

The rent of the land to operate

for 3 years period with 240,000
SGD x 3 years = 720,000

SGD

Financial Projections (cont.)

Balance Sheet

Current Assets
Cash
Account

2015
595,000
121,000
513,000

2016
915,500
172,000
596,500

2017
1,077,000
398,000
707,000

4,800
2.800

7,900
2,800

13,200
2,800

887,000

863,000

799,000

73,500
10,000
63,500
20,000
720,000
1,482,000
200,000

61,500
10,000
51,500
20,000
720,000
1,912,000
200,000

49,500
10,000
39,500
20,000
720,000
1,876,000
200,000

term

&

200,000

1,282,000

200,000

1,712,000

200,000

1,687,000

reserves
Owner capital
Retained

1,000,000
-161,000

1,000,000
-43,000

1,000,000
124,500

earning
Capital stock
Total liabilities &

443,000
1,482,000

755,000
1,912,000

563,000
1,876,000

receivable
Inventory
Other
current
asset

Non-current
asset
Fixed assets
Less
Net fixed asset
Rent deposit
Rent paid
Total asset
Liabilities
Current
liabilities
Long
liabilities
Bank loan

Capital

owner equity

Income
Statement 2015

2016
2017

SGD
SGD
SGD
Sales
300,000
500,000
580,000
Less: Variable Cost

Furniture
and
30,000
10,000
1,000
Fixtures
Body

building

191,000

35,000

39,000

equipment
Office Equipment
Electricity & Water

10,000
1,000

5,000
1,000

3,000
1,000

2,000

1,500

1,500

3,000
10,000

5,000
9,000

5,000
5,000

$4,000
251,000

5,000
71,500

9,000
64,500

210,000
7,000

210,000
3,000

210,000
2,000

240,000
4,000
461,000
-161,000

240,000
4,000
457,000
-43,000

240,000
4,000
456,000
124,500

Supply Cost
Miscellaneous
Expenses
Bonus Paid
Donation of Public
(PR)
Training Courses
Total Variable Cost

Less: fixed cost

Salaries Wages
Adverting
&
Promotion
Rental Paid
Insurance
Total Fixed Costs
Net
Operating
Income

Financial Projections (cont.)

Cash Flow

Operating
activities
Sales
Total sales

Year 0
SGD

2015
SGD

2016
SGD

2017
SGD

300,000
300,000

500,000
800,000

Registration fee
Website cost
Logo
and
design
Insurance
General
expenses
Rental
Salaries
Advertisement
Utilities
Maintenance
Other expenses
Total expenses
Total operating
expenses
Net
cash
providing
by
operation
activities
Investing
activities
Purchased
of
instruments
Investment
fixed assets
Interior costs
Net
cash
provided
by
investing
activities

Financing
activities

1,900
5,000
3,000

580,000
1,380,00
0

4,000
1000

20,000

7,000

41,900

240,000
210,000
7,000
3,000
5,000
1,000
461,000
461,000

240,000
210,000
3,000
5,000
5,000
1,000
403,500
800,000

-161,000 -64,000

240,000
210,000
2,000
4,000
5,000
1,000
394,000
1,260,50
0
124,500

3,000

3,000

3,000

63,500

200,000
263,500

3,000

3,000

3,000

Trading Profit &

2015
2016
Loss

SGD
SGD
Sales
Salaries
Furniture
Workout
equipment
Office
equipment
Promotions
&Advertising
Electricity and
Water
Rental
Insurances
Miscellaneous
Other paid
Public relation
Training
course
Total expenses
Net profits

$300,000
$210,000
$30,000
$151,000

2017
SGD
$500,500
$580,000
$210,000
$210,000
$10,000
$1,000
$35,000

$39,000

$10,000

$5,000

$3,000

$7,000

$3,000

$2,000

$3,000
$240,000
$4,000
$2,000
$3,000
$10,000

$3,000
$240,000
$4,000
$1,500
$5,000
$9,000

$3,000
$240,000
$4,000
$2,000
$5,000
$5,000

$4,000
$674,000
-$161,000

$5,000
$530,500
-43,500

$9,000
$523,000
$124,000

Payback Period

With initial investment is 1,200,000 SGD, the

payback period is 2 year and 8 months