ASSESSMENT COVER SHEET I confirm that this is my own work and has not been plagiarised from any sources or completed by any other person than the individual stated below. I understand that there are...

For the Business Plan it has to be a gym


ASSESSMENT COVER SHEET I confirm that this is my own work and has not been plagiarised from any sources or completed by any other person than the individual stated below. I understand that there are penalties if this assessment is submitted after the stated due date, unless I have otherwise received approval for an extension to the due date. I have kept a copy of my work. I understand this assessment will not be returned to me. I accept that if my assessment is kept on campus it will only be kept for 2 weeks and in this time I can request to view my marked assessment. Student Name Student Email Term Assessment Task DIPLOMA OF SPORT AND RECREATION MANAGEMENT ASSESSMENT TASK 1 – ASSIGNMENT 1 BUSINESS PLAN The Business Plan assignment requires students to research, develop and present a business plan for a real or hypothetical sport and recreation business or facility of their choosing. The business plan is due in the week 8 of the term. Business plans are critical tools for business growth and development. They will vary depending on the needs of the organisation. This assessment requires students to document the typical elements of a business plan including performance indicators in key results areas. Students are also required to develop an operational plan to provide efficient and effective workplace practices within the organisation's productivity and profitability plans. The operational plan will ensure that the objectives and strategies outlined in the business plan are met by work teams. This task will assess the student’s competency in elements from the Diploma of Sport and Recreation Management SIS50115. This is a comprehensive assessment task that aims to closely simulate the real world activities of a Facility Manager. SUBMISSION OVERVIEW ❑ Week 1 – Assessment issued in class ❑ Weeks 1 – 7 – comprehensive in class review of individual areas of the plan ❑ Week 7 – due date for submission (2nd scheduled day of class) ❑ Week 10 – results and feedback provided SUBMITTING YOUR COMPLETED BUSINESS PLAN ❑ The Business Plan is an extensive task. Students are required to undertake 65 hours of work to ensure an adequate response. ❑ You may use your course notes and any other resources available to you. Remember, if you do have any questions along the way your trainer is there for you. ❑ Please complete and staple an assessment cover sheet to your assignment. ❑ Ensure that your name appears on each page that you submit. ❑ Assignments must be typed. ❑ Your task should be clearly organised and compiled for submission. If not, you will be asked to resubmit your assessment. ❑ Incomplete assessments will not be marked ❑ Ensure that you read the assessment criteria on the following page. Students are advised to complete the task in consultation with this criteria to ensure a comprehensive response. Competencies being assessed The following Units of Competency are being assessed in this task: BSBMGT517 Manage operational plan AHCBUS516 Develop and review a business plan Assessment Criteria Students are advised to complete the task in consultation with these criteria to ensure a comprehensive response. You will be assessed on your ability to show competency in the following: C NYC BSBMGT517 Research resource requirements Manage Operational Plan Develop consultation processes Identify KPIs Develop contingency plans Obtain approvals Plan and manage physical resource acquisition Montiro and review operationsal performance Develop and implement systems AHCBUS516 Analyse and interpret vision, mission, goals Develop and review a business plan Review market environment Develop performance objectives and measures Identify resource requirements Consider legal obligations, permits, licenses Write business plan Disseminate plan and engage resources Monitor performance Report variances or failures Analyse and respond to performance PLANNING There will be comprehensive discussion about the task during the course. You are required to document a business plan for a real or hypothetical business within the fitness, sport and recreation industry. If you are planning to run your own business, it is a good idea to write the plan for the business you intend to establish. If you prefer, you could create a plan for a business that already exists. The choice is yours. Remember, the more planning you do, the better you will be able to develop the project. The format of the Business Plan is dependent on the size of the business, the type of business and personal (or company) preference. You can choose any format you wish, as long as it addresses the criteria outlined in this assignment. Ensure that you choose a format that is easy to follow and not too detailed. Larger companies will have very detailed business plans. Some of the information they include will not be relevant to a smaller scaled PT business, sporting complex or facility. There are many samples and guidelines available online. We suggest you use the following business plan template available here: https://www.business.gov.au/planning/business-plans/how-to-develop-your-business-plan https://www.business.gov.au/planning/business-plans/how-to-develop-your-business-plan Part A – The Executive Summary The Executive Summary is typically completed last, after you have finalized each element. The purpose of the Executive Summary is to give you a snap shot of the entire business plan. Ensure that your Executive Summary also includes a brief description of the type of the business you have chosen (this could be a real business or a hypothetical one). Your business could be: ❑ An indoor or outdoor facility ❑ A sports complex ❑ A personal training business ❑ A community recreation centre ❑ A fitness centre ❑ A specific sport or recreation service Your Executive Summary should include: • Vision • Legal structure • The products and services you will offer • Your customer (target market) • Your unique selling point and positioning in the market (i.e. what makes you different from your competitors) • Financial projections • Goals and plans for the future Part B – Products and Services In this section, you will provide an outline of the products and services you plan to offer. In your outline you will describe: 1. Features 2. Benefits 3. Cost and sale price 4. Substitutes in the industry Part C – Market Analysis Complete a market analysis that identifies factors impacting on the direction and performance of the business. Ensure that you include the following: 1. Description of the market 2. The key characteristics of the industry you operate in 3. Major trends 4. Competitor analysis 5. SWOT analysis If you are completing a business plan for an existing business, you should also: • Evaluate the effectiveness of previous business planning to identify lessons learned • Analyse current key products or services and major markets for strengths, weaknesses, opportunities and threats • Evaluate performance against previous objectives, targets to identify critical success factors, and areas for improvement Part D – Marketing Plan The marketing plan is an essential component of your business plan. You can use your existing Marketing Plan for this section, however, because it is part of the business plan you will need to summarise key elements rather than submit the full detail. The items you will need to address are: • Target Market • Pricing • Promotional strategies • Distribution methods/location of business • Sales plan including targets and forecast sales (http://www.business.qld.gov.au/business/support-tools- grants/tools/business-planning-kit p13 has a useful tool for this purpose) Part E – Operations Operations plans differ greatly from one business to the next. For the purposes of this plan, your operational plan needs to include the following: • Physical resource requirements and plans for acquisition • Human resource requirements and plans for acquisition • Consultation plans to ensure operational planning is conducted smoothly (i.e. who do you have to share information with) • Production processes (if applicable) • Plant and equipment if necessary • Stock and inventory requirements Part F – Financial Plan Your financial plan explains not only how you will finance your business, but also how you plan to keep it running. You will need to develop a financial plan which includes the following: • Start-up finance • Running costs • Projections including break even and profit expectations. A good tool to help you do this can be found on page 6 of the Business Victoria business plan template at http://www.business.vic.gov.au/operating-a-business/how-to-start/business-planning Part G – Control and Evaluation In this section, you are required to: 1. Explain how you will monitor and control performance Some of the ways you can monitor and control performance are: http://www.business.qld.gov.au/business/support-tools-grants/tools/business-planning-kit%20p13 http://www.business.qld.gov.au/business/support-tools-grants/tools/business-planning-kit%20p13 http://www.business.qld.gov.au/business/support-tools-grants/tools/business-planning-kit%20p13 http://www.business.vic.gov.au/operating-a-business/how-to-start/business-planning • Communicate business plan to all relevant parties and ensure understanding of performance requirements and timeframes • Ensure skilled labour is available to implement plan • Test performance measurement systems and refine, if necessary • Ensure timely reports on all key aspects of the business are available, user-friendly and balanced in terms of financial and non-financial performance • Report system failures, product failures and variances to the business plan as they occur • Analyse performance reports against planned objectives • Identify areas of under performance, recommend solutions, and take prompt action to rectify the situation • Ensure groups and individuals contributing to under-performance are coached, and provide training where appropriate • Review system processes and work methods regularly as part of continuous improvement 2. Outline how you will measure your performance Outline how you plan measure performance and the tools you will use in your evaluation. You will need to incorporate appropriate metrics to review performance against objectives. Develop performance objectives