Feasibility Study
Stage One: Site Analysis
Imagine Spa Management will meet with the client and, where appropriate, visit the site to discuss the health club or spa development with particular reference to the vision, budgets and the expectations of the client for the wider business benefits the provision of the spa or health club development. At this stage the existing data capture form will be completed and reviewed.
Stage Two: Market Investigation
Imagine Spa Management will provide a thorough survey of the locality based on 15 minute drive-times for health clubs and 60 minute drivetimes for spas. The information will be based on the latest census statistics and will provide a comprehensive analysis of population profile including age, house/car ownership, leisure spend, household income and occupation. The population demographic within the catchment area for the Client Facility can be compared with the typical profile of existing “Imagine” operated spas and clubs. The market investigation is a valuable tool in assessing the level of demand for membership and day guests at the club, the required penetration of the market and the likely level of tariff that the club could command.
Stage Three: Competitor Analysis
A thorough analysis would be undertaken of all facilities that would intersect with the catchment area for the Client Facility. The analysis would include price comparison, service standards offered, facility standards, membership demand and quality of staffing. The analysis is undertaken by both mystery customer and announced visits to competitors. This analysis will be essential in constructing pricing and assessing the demand for a new facility.
Stage Four: Concept Plan
Based on the outcome of stages 1 – 3, Fitness Express will provide a detailed concept plan for the proposed facility. An operational concept would be formulated together with a staffing needs analysis and personnel specification. A membership structure and sample treatment menu would be proposed together with a tariff that would be appropriate for the client profile and the facilities proposed. This concept plan will outline the development programme for the project.
Stage Five: Proforma Financial Projections
A P&L forecast would be provided based on the research conducted within Stages 1 – 4 and on our experience of developing over thirty sites. The P&L would be fully detailed based on the first three years of operation starting from initial launch.
