Do you want to start a Zumba studio and need to write a plan? If YES, here is a sample Zumba studio business plan template & FREE feasibility report.
One of the dance and fitness related businesses that is gaining more grounds in recent times as it was in the 20th century is Zumba fitness studio. People are now more aware of the benefits they stand to gain when they enroll in a Zumba fitness studio. It is now obvious to the general public that they can stay healthy, improve their lifestyle and live longer if they exercise regularly and Zumba dance comes to the rescue.
Loads of people enroll in Zumba studios to lose weight, keep fit and catch fun, hence there are always people in your community that will patronize your Zumba studio if it has the type of facility and equipment that will help them out. Starting a Zumba studio business can be capital intensive, but you can be rest assured that you will breakeven within 2 or 3 years of starting it if you are in a location where people fancy fitness and dance.
A Sample Zumba Studio Business Plan Template
Table of Content
- 1. Industry Overview
- 2. Executive Summary
- 3. Our Products and Services
- 4. Our Mission and Vision Statement
- 5. Job Roles and Responsibilities
- 6. SWOT Analysis
- 7. MARKET ANALYSIS
- 8. Our Target Market
- 9. SALES AND MARKETING STRATEGY
- 10. Sales Forecast
- 11. Publicity and Advertising Strategy
- 12. Our Pricing Strategy
- 13. Startup Expenditure (Budget)
- 14. Sustainability and Expansion Strategy
1. Industry Overview
Zumba is an exercise fitness program created by Colombian dancer and choreographer Alberto “Beto” Pérez during the 1990s. Zumba is a trademark owned by Zumba Fitness, LLC. The Brazilian pop singer Claudia Leitte has become the international ambassador to Zumba Fitness.
Zumba instructors have the option to become ZIN™ Members (Zumba Instructor Network members) to receive monthly music and bimonthly training DVDs to assist with the creation of music and choreography for their personal Zumba classes. By 2019, there were more than 100,000 Zumba instructors around the world.
Zumba studio fall under the Gym, Health & Fitness Clubs industry and this industry operates fitness and recreational facilities that feature exercise and other active physical fitness conditioning or recreational activities, such as swimming, skating or racquet sports. Operators are also involved in facilities management and fitness instruction.
Zumba classes are typically about an hour long and are taught by instructors licensed by Zumba Fitness, LLC. In one Zumba class, a person can burn up to 600 kcal, depending on the energy put forth. The music comes from the following dance styles: cumbia, salsa, merengue, mambo, flamenco, chachacha, reggaeton, soca, samba, hip hop music, axé music and tango. Zumba is one of the most versatile fitness workouts, as classes can be geared for any fitness level.
The Gym, Health & Fitness Clubs industry of which Zumba studio business is subset of is indeed a very large industry and pretty much thriving in all parts of the world especially in developed countries such as united states of America, Canada, United Kingdom, Germany, Australia, South Africa, Czech Republic and Italy et al.
Statistics has it that in the United States of America alone, there are about 111,055 licensed and registered gym, health & fitness facilities including those who are into franchising responsible for employing about 808,932 employees and the industry rakes in a whooping sum of $36 billion annually with an annual growth rate projected at 3.5 percent between 2014 and 2019. It is only Fitness International LLC that can boast of having a giant market share in this industry.
Recent research published by IBISWorld shows that the Gym, Health and Fitness Clubs industry has benefited over the five years to 2019 as a result of broad economic improvements and increased health-consciousness. Some gym, health and fitness clubs have appealed to consumers on the basis of convenience by offering low-cost memberships with full operational hours.
Comparatively, niche studios have appealed to consumers by offering classes with specific workouts or environments. According to International Health, Racquet and Sportsclub Association data, the number of health club memberships in the United States increased to 60.9 million.
2. Executive Summary
Romeo Sánchez® Zumba Studio, LLC is a standard Zumba studio that practices all forms of Zumba fitness and choreography. We run one of the most versatile fitness workouts session; a Zumba studio where kids, teens, and adults engage in fitness activities via unique dance steps in a fun-fulfilled and relaxing atmosphere.
Our Zumba studio will be located in-between a well-populated residential estate and a business district in in Las Vegas – Nevada, United States of America. We hope to open branches in other key cities in the United States and Canada and also to sell franchise in the nearest future.
Romeo Sánchez® Zumba Studio, LLC is a client-focused and result driven Zumba fitness business that provides one of the most versatile fitness workouts with all our classes geared towards achieving any fitness level at an affordable fee.
Our classes are typically about an hour long and are taught by instructors licensed by Zumba Fitness, LLC in a highly secured and conducive learning environment. We will ensure that we work hard to meet and surpass all our students’ expectations as it relates to their goals of enrolling in our Zumba studio.
Our Zumba studio is well – equipped with wood-sprung floors, rocking stereo systems, a comfortable lobby with flat screen TVs, and different locker room for change over equipped with showers for both kids and adults alike. We will also run a one-stop Zumba store in same facility where our customers can purchase authentic fitness and dancing kits and accessories.
At Romeo Sánchez® Zumba Studio, LLC, our students’ overall best interest would always come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire professional Zumba dance coaches, instructors and choreographers who are specialized in various types of Zumba to work with our students.
Romeo Sánchez® Zumba Studio, LLC School will at all times demonstrate her commitment to sustainability, both individually and as a dance related training organization, by actively participating in our communities and integrating sustainable business practices wherever possible. We will ensure that we hold ourselves accountable to the highest standards by meeting our students’ needs precisely and completely.
Romeo Sánchez® Zumba Studio, LLC is founded by Dr. Romeo Sánchez and she will run the business with her business partner, Ms. Sharon Bally. Dr. Romeo Sánchez is licensed by Zumba Fitness, LLC and he is also a renowned dancer and choreographer.
He is a ZIN™ Member (Zumba Instructor Network member) and he is qualified to receive monthly music and bimonthly training DVDs to assist with the creation of music and choreography for his Zumba classes.
3. Our Products and Services
Romeo Sánchez® Zumba Studio, LLC is going to offer varieties of Zumba fitness related services within the scope of the Gym, Health & Fitness Clubs industry in the United States of America. We are also in the Zumba studio business to make profits and we will do all that is permitted by the law in the US to achieve our aim and business goal. We will be offering these ten types of classes, for different levels of exertion;
- Zumba Gold is a program designed for beginners and older people.
- Zumba Step is a lower-body workout that incorporates Zumba routines and step aerobics with Latin dance rhythms.
- Zumba Toning is for people who do their workouts with toning sticks. It targets the abs, thighs, arms, and other muscles throughout the body. This type of Zumba class provides participants with a cardio workout and strength training.
- Aqua Zumba classes are held in a swimming pool. The instructor leads the class in the poolside while participants follow in shallow water. Moves have been specially adapted to combine the same dance movements used in a Zumba Fitness class with those used in aqua fitness classes.
- Zumba in the Circuit combines dance with circuit training. These classes usually last 30 minutes and feature strength exercises on various stations in timed intervals.
- Zumbatomic, Zumba Kids and Zumba Kids Jr. classes are designed for children between the ages of 7 and 11.
- Zumba Gold-Toning is a toning class for older participants with goals of improving muscle strength, posture, mobility, and coordination.
- Zumba Sentao is a chair workout that focuses on using body weight to strengthen and tone the body.
- Strong by Zumba This specialty combines high intensity interval training with Synced Music Motivation.
- Zumbini is a class for babies and children at the ages of 0–3 years old and their caregivers. Their live classes stream on BabyFirstTV.
- A Plate by Zumba is an e-learning program to learn about healthy eating habits.
4. Our Mission and Vision Statement
- Our vision is to build a highly competitive and effective Zumba studio business that will promotes fitness, poise, harnesses passion and encourage performance and healthy lifestyle.
- Our mission is to provide affordable, professional and highly effective Zumba fitness services to a wide range of clients.
- We are on a mission to help our patrons with a total-body cardio and aerobic workout, which provides a large calorie consumption; to help them burn high calorie, help lower the risk of heart disease, reduce the blood pressure and bad cholesterol, and increase good cholesterol.
Our Business Structure
Romeo Sánchez® Zumba Studio, LLC is in business to become the leading Zumba studio facility in the whole of Las Vegas – Nevada and we will ensure that we put the right structures in place that will support the kind of growth that we have in mind while setting up the business.
We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders. As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more.
Our business will not be built only for the purpose of giving our members/customers value for their money and time, but also we will ensure that we make our work environment highly conducive for all our employees. We will provide them with employee packages that will help them stay motivated.
In view of that, we have made provisions for the following positions to be occupied by highly qualified and experienced staff;
- Principal Partner/Chief Executive Officer
- School Administrator
- Licensed Zumba Fitness Instructor
- Marketing and Sales Executive
- Client Service Executive
- Front Desk Officer
5. Job Roles and Responsibilities
Principal Partner/Chief Executive Officer:
- Responsible for providing direction for Romeo Sánchez® Zumba Studio, LLC
- Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for handling high profile clients and deals (clients such as Top Government Officials, Sports Clubs, Superstars, and Celebrities et al)
- Responsible for fixing fees and signing business deals (partnership)
- Responsible for signing checks and documents on behalf of Romeo Sánchez® Zumba Studio, LLC
- Coordinate all arms of the business and develop curriculum for Romeo Sánchez® Zumba Studio, LLC
- Evaluates the success of the business
- Reports to the board of Romeo Sánchez® Zumba Studio, LLC
- Responsible for overseeing the smooth running of HR and administrative tasks for Romeo Sánchez® Zumba Studio, LLC
- Design job descriptions with KPI to drive performance management for dance instructors (coaches) and choreographers
- Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Carrying out induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
- Oversee the smooth running of the daily activities of Romeo Sánchez® Zumba Studio, LLC.
Licensed Zumba Fitness Instructor
- Lead aerobics classes using the Zumba style. They take basic moves and formulas of the Zumba style and apply them to music to choreograph dance and workout routines that help students lose weight, build muscles, tone bodies, and improve or maintain cardiovascular health
- Teach Zumba classes to individuals in different age groups and at different skill levels
- Choreograph routines using Zumba steps and formulas
- Perform routines so that students can follow the instructor’s lead during classes
- Observe students during routines to offer advice or guidance on improvement
- Market classes to attract new students and increase enrollments.
Marketing and Sales Executive
- Identify, prioritize, and reach out to new students, and business opportunities et al
- Writing winning proposal documents, negotiate fees and rates in line with organizations’ policy
- Responsible for handling business research, market surveys and feasibility studies for clients
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Document all customer contact and information
- Represent Romeo Sánchez® Zumba Studio, LLC in strategic meetings
- Help increase growth for Romeo Sánchez® Zumba Studio, LLC.
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting for one or more properties.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensuring compliance with taxation legislation
- Handles all financial transactions for Romeo Sánchez® Zumba Studio, LLC
- Serves as internal auditor for Romeo Sánchez® Zumba Studio, LLC.
Client Service Executive
- Welcomes students and visitors by greeting them in person or on the telephone; answering or directing inquiries.
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized – customer service experience of the highest level
- Through interaction with students on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the studio coordinator in an effective and timely manner
- Consistently stays abreast of any new information on the schools’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to students when they make enquiries
6. SWOT Analysis
Romeo Sánchez® Zumba Studio, LLC engaged the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured Zumba studio business that can favorably compete in the highly competitive Gym, Health & Fitness Clubs industry in the United States and the world at large.
Part of what the team of business consultant did was to work with the management of our organization in conducting a SWOT analysis for Romeo Sánchez® Zumba Studio, LLC. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Romeo Sánchez® Zumba Studio, LLC;
Our core strength lies in the power of our team; our workforce. We have a team that are considered experts in Zumba fitness business, a team with excellent qualifications and experience in professional Zumba dance and choreography.
Aside from the synergy that exists in our carefully selected faculty members and our strong online presence, Romeo Sánchez® Zumba Studio, LLC is well positioned in a community with the right demography and we know we will attract loads of clients from the first day we open our doors for business.
As a new Zumba studio in Las Vegas – Nevada, it might take some time for our organization to break into the market and gain acceptance especially from top profile clients in the already saturated Zumba fitness business; that is perhaps our major weakness.
The opportunities available to us are massive and this due to the fact that;
- Zumba is a total-body cardio and aerobic workout, which provides a large calorie consumption. A study shows that a person burns 300 to 900kcal with an hour-long Zumba exercise.
- Because Zumba offers different options, proponents of the Zumba program claim that it is safe for all ages, meaning that anyone from age 0 to 100 can participate in this form of aerobic exercise. Some of the classes are specifically aimed at elderly people, to help them build strength, improve motion and posture, and socialize.
- Besides its high calorie burning benefit, Zumba can help lower the risk of heart disease, reduce the blood pressure and bad cholesterol, and increase your good cholesterol.
Besides, the industry will likely benefit from rising per capita disposable income as the economy continues to gain strength, boosting spending on discretionary activities such as Zumba dance cum fitness classes
When individuals have more leisure time, they can allocate more time towards their fitness regimen, which spurs consumer demand for gym, health and fitness club memberships. In 2019, IBISWorld estimates that time spent on leisure and sports will stagnate, representing a potential threat to the industry and lastly, the emergence of new competitors within the same location where our Zumba studio facility is located will also pose a threat to us.
7. MARKET ANALYSIS
- Market Trends
One thing is certain, the trend in the Gym, Health & Fitness Clubs industry is such that if you want to be ahead of your competitors, you should be able to make your Zumba classes easy for students to adapt to and you should be able to have loads of testimonies from your students.
The truth is that if your student experienced huge difference in their life as a result of enrolling in your Zumba studio, then they will be compelled to help promote your organization.
Another notable trend in the multibillion – dollar Gym, Health & Fitness Clubs industry in the United States of America is that, they have benefited greatly from the promotion and the rising interest in health and fitness. As a matter of fact, in one Zumba class, a person can burn up to 600 kcal, depending on the energy put forth.
Just like in other business ventures, the owners of Zumba studio facilities are always looking for ways to increase their market share; they go as far as signing deals with high schools and also religious organizations et al to make use of their facilities.
It is a common trend that as Zumba studio facilities grow, it becomes necessary for them to develop new service offerings or install new facilities that will help them attract more people.
Little wonder some Zumba studio facilities now have other facilities targeted towards attracting everyone who intend to stay healthy and fit. In order words, it is very important for Zumba studio facilities to continue to improvise if they want to grow their business and generate their target revenue.
8. Our Target Market
The target market for a Zumba studio is broad and of course all encompassing. Romeo Sánchez® Zumba Studio, LLC is a Zumba studio business that is positioned to offer a wide range of Zumba dance and choreography related health and fitness services to a wide range of clients ranging from kids to adults and to people with health challenges.
We are coming into the Gym, Health & Fitness Clubs industry with a business concept and company’s profile that will enable us work with the students at different learning stages and different status. Below is a list of the clients that we have specifically design our services for;
- Working Class Adults/Corporate Executives
- Sport Clubs (Cheerleaders and choreographers et al)
- Obese people
- Government Officials
- Sports Men and Women
- College Students
The Gym, Health & Fitness Clubs industry is indeed a very prolific and highly competitive industry. Clients will only enroll in your Zumba studio or hire your services if they know that you can successfully help them burn high calorie, lower the risk of heart disease, reduce the blood pressure and bad cholesterol, and increase good cholesterol.
We are quite aware that to be highly competitive in the Gym, Health & Fitness Clubs industry means that you should be able to deliver consistent quality service, your students should be able to experience remarkable improvement and you should be able to meet the expectations of your clients at all times.
Romeo Sánchez® Zumba Studio, LLC might be new Las Vegas – Nevada, but we have a team of experts in the Gym, Health & Fitness Clubs industry, a team with excellent qualifications and experience in professional Zumba dance and choreography.
Aside from the synergy that exists in our carefully selected faculty members and our strong online presence, Romeo Sánchez® Zumba Studio, LLC is well positioned in a community with the right demography and we know we will attract loads of clients from the first day we open our doors for business.
Lastly, our employees (Zumba dance and choreography instructors and coaches) will be well taken care of, and their welfare package will be among the best within our category in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and objectives.
9. SALES AND MARKETING STRATEGY
We are mindful of the fact that there are stiff competitions amongst Zumba studio businesses in the United States of America, hence we have been able to hire some of the best marketing experts to handle our sales and marketing.
Our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of Romeo Sánchez® Zumba Studio, LLC.
We want to build a standard and Zumba studio brand that will leverage on word of mouth advertisement from satisfied clients. Romeo Sánchez® Zumba Studio, LLC is set to make use of the following marketing and sales strategies to attract clients;
- Introduce our Zumba studio by sending introductory letters alongside our brochure to corporate organizations, households and key stake holders in Las Vegas – Nevada.
- Print out fliers and business cards and strategically drop them in offices, libraries, public facilities and train stations et al.
- Use friends and family to spread word about our Zumba studio
- Post information about our Zumba studio and the services we offer on bulletin boards in places like schools, libraries, and local coffee shops et al
- Place a small or classified advertisement in the newspaper, or local publication about our Zumba studio and the services we offer
- Using referral networks such as agencies that will help match students and corporate clients with our Zumba studio.
- Advertise our Zumba studio in relevant entertainment magazines, newspapers, TV and radio stations
- Attend relevant entertainment expos, seminars, and business fairs et al
- Engage direct marketing approach
- Encourage word of mouth marketing from loyal and satisfied students
Sources of Income
Romeo Sánchez® Zumba Studio, LLC is established with the aim of maximizing profits in the Gym, Health & Fitness Clubs industry and we are going to ensure that we do all it takes to attract clients on a regular basis. Romeo Sánchez® Zumba Studio, LLC will generate income by offering all Zumba dance and choreography fitness services.
10. Sales Forecast
One thing is certain, there would always be clients who would need that extra fitness class in other to burn high calorie, help lower the risk of heart disease, reduce the blood pressure and bad cholesterol, and increase good cholesterol so as to live their life the way they want to live it. This is the major reason why the services of Zumba studios will always be needed.
We are well positioned to take on the available market in Las Vegas – Nevada and we are quite optimistic that we will meet our set target of generating enough income/profits from the first six months of operation and grow our Zumba studio business and our clientele base.
We have been able to examine the Gym, Health & Fitness Clubs industry – market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast.
Below are the sales projection for Romeo Sánchez® Zumba Studio, LLC, it is based on the location of our Zumba studio business and of course the wide range of Zumba dance and choreography classes and related services that we will be offering;
- First Fiscal Year (FY1): $120,000
- Second Fiscal Year (FY2): $350,000
- Third Fiscal Year (FY3): $450,000
N.B: This projection is done based on what is obtainable in the Gym, Health & Fitness Clubs industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
11. Publicity and Advertising Strategy
We have been able to work with our branding and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to become the number one choice for both corporate and private students in the whole of Las Vegas – Nevada which is why we have made provisions for effective publicity and advertisement of our Zumba business.
Below are the platforms we intend to leverage on to promote and advertise Romeo Sánchez® Zumba Studio, LLC;
- Place adverts on both print (community – based newspapers and fitness and health related magazines) and electronic media platforms
- Sponsor relevant community based events/programs
- Leverage on the internet and social media platforms like; Instagram, Facebook, Twitter, YouTube, Google + et al to promote our brand
- Install our Bill Boards on strategic locations all around Las Vegas – Nevada.
- Distribute our fliers and handbills in target areas
- List Romeo Sánchez® Zumba Studio, LLC on local directories / yellow pages
- Advertise our Zumba studio business in our official website and employ strategies that will help us pull traffic to the site.
- Ensure that all our Zumba fitness instructors and coaches, choreographers and staff wear our branded shirts and all our vehicles are well branded with our corporate logo et al.
12. Our Pricing Strategy
Generally, for Zumba studio business both per hour billing and flat fees on a weekly, monthly basis and contract applies. As a result of this, Romeo Sánchez® Zumba Studio, LLC will charge our clients flat fees except for few occasions where there will be need for us to charge special clients on hourly basis mostly during consultancy and advisory services.
At Romeo Sánchez® Zumba Studio, LLC we will keep our fees below the average market rate for all of our students by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to all our clients at regular intervals.
We are aware that there are some clients that would need special assistance, we will offer flat rate for such services that will be tailored to take care of such clients’ needs.
- Payment Options
The payment policy adopted by Romeo Sánchez® Zumba Studio, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulations of the United States of America.
Here are the payment options that Romeo Sánchez® Zumba Studio, LLC, will make available to her clients;
- Payment by via bank transfer
- Payment via online bank transfer
- Payment via check
- Payment via bank draft
- Payment via mobile money
- Payment with cash
In view of the above, we have chosen banking platforms that will enable our clients pay us without any difficulty. Our bank account numbers will be made available on our website and promotional materials.
13. Startup Expenditure (Budget)
The items listed below are the basics that we would need when starting our Zumba studio business in the United States, although costs might vary slightly;
- The total fee for registering the business in the United States of America – $750.
- Legal expenses for obtaining licenses and permits – $1,500.
- Marketing promotion expenses (8,000 flyers at $0.04 per copy) for the total amount of $3,580.
- The cost for hiring business consultant (business plan inclusive) – $2,5000.
- Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $3,800.
- The cost of accounting software, CRM software and Payroll Software – $3,000
- The cost for leasing a studio facility – $80,000.
- The cost for facility remodeling and equipping the Zumba studio facility – $50,000.
- Other start-up expenses including stationery – $1000
- Phone and utility deposits – $3,500
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
- The cost for start-up inventory – $15,000
- Equipping the Zumba studio (studio floor, sound system, DVD players, Pianos, Flat Screen TVs, computers, printers, projectors, markers, pens and pencils, furniture, telephones, filing cabinets, and electronics) will cost – $100,000
- The cost of launching a Website – $600
- The cost for our grand opening party – $15,000
- Miscellaneous – $15,000
We would need an estimate of three hundred and fifty thousand dollars ($350,000) to successfully launch a standard and well – equipped Zumba studio facility in Las Vegas – Nevada.
Generating Funding/Startup Capital for Romeo Sánchez® Zumba Studio, LLC
Romeo Sánchez® Zumba Studio, LLC is owned by Dr. Romeo Sánchez and he will run the business with his business partner, Ms. Sharon Bally. They decided to restrict the sourcing of the startup capital for the business to just three major sources.
These are the areas we intend generating our start-up capital;
- Generate part of the startup capital from personal savings and sale of stocks
- Generate part of the startup capital from friends and other extended family members
- Generate a larger chunk of the startup capital from the bank (loan facility).
N.B: We have been able to generate about $100,000 (Personal savings $75,000 and soft loan from family members $25,000) and we are at the final stages of obtaining a loan facility of $250,000 from our bank. All the papers and document have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
14. Sustainability and Expansion Strategy
It is easier for businesses to survive when they have steady flow of business deals / customers patronizing their products and services. We are aware of this which is why we have decided to offer a wide range of Zumba fitness classes and other related services to corporate clients and individual clients
We know that if we continue to deliver excellent and effective Zumba studio services, there will be steady flow of income for the organization.
Our key sustainability and expansion strategy is to ensure that we only hire competent and selfless Zumba dance instructors, coaches and choreographers, create a conducive working environment and employee benefits for our staff members. In the nearest future, we will explore the option of either selling our franchise or expanding our scope beyond Las Vegas – Nevada to other major cities in the United States of America and Canada.
We know that if we implement these business strategies, we will achieve our business goals and objectives in record time.
- Business Name Availability Check: Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Conducting Feasibility Studies: Completed
- Generating part of the start – up capital from the founders: Completed
- Writing of Business Plan: Completed
- Leasing a studio facility (renovating the facility inclusive): Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents: In Progress
- Design of Logo for the Zumba studio: Completed
- Printing of Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of the needed furniture, office equipment, electronic appliances and facility facelift: In progress
- Creating Official Website for the business: In Progress
- Creating Awareness for the Zumba studio in Las Vegas – Nevada: In Progress
- Health and Safety and Fire Safety Arrangement: In Progress
- Establishing business relationship with key players in various industries: In Progress
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