Business Management and Entrepreneurship (BUSI118)
Summary
Summary 2:1 Business Plan
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Course
Business Management and Entrepreneurship (BUSI118)
Institution
Nottingham Trent University (NTU)
An exemplar of a Business Plan that scored 2:1 in assessment.
This is a perfect example of how to effectively structure a business plan, and what to include in this type of assessment.
Business Management and Entrepreneurship (BUSI118)
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Improve LTD Business Plan
157 Kedleston Road, Derby. DE22 1FT.
Khias Webb
08/05/22
1
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Name(s) and Student Khias Webb N0948278
Number(s):
Module Title: BUSI22510 – HY2 Enterprise Project
Title of Coursework: Business Plan Assessment – Written Plan
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2
, Executive Summary
Improve LTD is a business proposal that aims to create an educational online platform,
selling exercise and nutrition plans. The aim of this business is to teach instead of to tell,
and give the average person the confidence and knowledge to create long-lasting
attributes. This will allow users to reach any goal they may have regarding fitness and
health.
Improve LTD will operate as a limited entity and will initially exist as a website that users
can visit, with the potential to develop a mobile app in the future, when enough capital
has been generated. Being an online business, start-up costs will be low. The business is
estimated to cost £9000 to set up, which will be a combination of website development
and filming costs of visual demonstrations shown on the website. This will be funded by
the director’s personal savings and a Start-up loan from NatWest. The business is
projected to turn over £158,225 net of VAT in year 3.
To start, the business will offer two main services: Exercise plans (£10.99/month) and
Nutrition Plans (£10.99/month), with the option to subscribe to a full package plan
including both exercise and nutrition plans (£19.99/month). The business model will
operate as a subscription model, with customers paying a subscription fee every month.
A ‘freemium’ promotional offer will be available, with customers having the opportunity
to try the service for one week, free of charge. Improve LTD will operate completely
digitally, with all transactions occurring online. This is to increase ease for the customer
as the business will always be available, at any place.
Market research shows that the global fitness industry is an extremely lucrative market
with sales revenue of over $94 Billion in 2019, and 5.3 billion Euros in the UK (2018).
This shows that even a small market share in this industry would prove to be very
profitable. It is true that the COVID-19 Pandemic has harmed this industry, with
lockdowns and government restrictions. However, the fitness industry has been affected
uniquely by the pandemic, in the way that consumers attitudes have become more
inclined towards fitness and exercise. This is because being locked down has caused
most adults to gain weight, making them more enthusiastic to get outside and become
active to become healthier. In addition to this, the pandemic has caused the public to
become more health conscious. As a result, the health and fitness industry is receiving
an increase in demand as we come out of the pandemic.
In addition to this, online businesses have witnessed a surge in demand since the
pandemic, due to people spending more time at home. The trend shows that more sales
are being done online, making e-commerce more and more profitable and attractive to
the consumer in the future. Therefore, the online business model increases Improve’s
opportunity to sell to the consumer, hence the business’ chance of success.
The plans will be made by the director, along with qualified personal trainers that will be
brought in to help, to ensure the highest quality and accuracy. Initially, services will be
targeted towards men and women aged 18-34 due to this being the main age range that
most identifies with the product. Being gender neutral is a very important part of the
branding. The female customer is a huge segment of the market that is often neglected
by fitness brands. Plans will be personalised to suit the user’s preferences, such as foods
or exercises that they prefer/don’t enjoy. The plans will also be tailored to suit the user’s
physical attributes, such as weight, height, and will work towards a range of goals that
they may wish to reach. The unique selling point of this platform is the education. There
are currently brands on the market that sell workout and diet plans, however they don’t
3
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