Assignment – Developing a new personal training business (Page 32-36)
There are three sections to this assignment:
Initial business evaluation – 14 marks available. You must score a minimum of 12 marks in total to achieve a pass.
Market research – 16 marks available. You must score a minimum of 13 marks in total to achieve a pass.
Business planning – 56 marks available. You must score a minimum of 45 marks in total to achieve a pass.
Below I have laid out how the assessment will be marked and I have included resources helping you to compile your business plan.
Example business plan
Below I have attached an example of a near-perfect business plan. This was done by a former learner.
Don’t copy the example, as that will give you 0 marks, but use it to give yourself a template on which you can build yours upon.
This seems like a lot of work, but please don’t panic. I have laid out plenty of resoruces below to support you through each section.
If this is not enough please email or call and we will be happy to assist you and add more to the classroom if needs be.
Initial business evaluation
The initial business evaluation will be split into 3 parts:
1ׄ. Carry out a SWOT analysis identifying your strengths, weaknesses, opportunities and threats. This will be in relation to:
- Your current scope of practice
- Personal characteristics, skills and preferences
- Managing your business
- Local facilities, resource availability and competition
- Gaining commitment and closing sales
- Core and additional products and services
2. Develop a personal development plan to address what you have written in your SWAT development plan.
3. You will need to develop a plan to show how you will continue your professional development (CPD) once the business is launched. This plan must include:
- How you will incorporate CPD into your normal business practice
- Methods of CPD used
- Additional support you could seek from others to assist with your ongoing CPD
- How your CPD plans will benefit your business
The initial market research section is also split into 3 parts:
2. Evaluate the advantages/disadvantages and constraints of the common marketing techniques. These can include:
- Cold calling
- Press releases
- Digital marketing
3. Use the information gathered during the evaluation of the market research methods to:
- Select the most appropriate method(s) of marketing your business
- Explain how you will conduct the market research for your business and what info you need to gather
- Describe how you will analyse the results/data from your market research activities
Finally, you need to create a business plan for your personal training business.
Make sure it inlcudes:
Aims and objectives including key performance indicators (KPIs).
Stages/milestones of the business.
Unique selling points (USPs) of the business.
A marketing strategy, including: An overview of the key objectives and targets for a marketing campaign. A description of the target audience of the selected marketing campaign. • Ways to gain and retain clients in your business.
A list of resources required to plan, prepare and launch the business.
Areas of risk and difficulty (where things might go wrong during the planning, preparation or launch stage of the business).
Health, safety, legal and insurance requirements for your business.
The standards you will implement to ensure all business practice is professional and an outline of why each standard is important.
- A projected quarterly profit and loss report for the first year of the business, including: An overview of the budget required to take the business through planning and preparation to the launch. Quarterly cost, income and cash flow forecasts for the first year of trading. Projected gross and net profit figures.
How you will use your digital profile to positively promote the business.
The IT applications going to be used to support business planning and delivery, their risks and benefits.
How the IT applications are to be used to monitor, interpret and manage business data.