Project report on Gold’s gym

Project report on Gold’s gym Submitted to: Submitted By:

Prof. A.N. Bhattacharya Avinash Shaw

ACKNOWLEDGEMENT “Between the conceptions And the creation, Between the emotion And the response, Between the hard work And the result, Lays our thanks to you......”

We take this opportunity to express our profound sense of gratitude and respect to all those who helped us throughout this Endeavour. We owe our regards to Prof. A.N bhattacharya, for his co-operation and valuable support and for providing us with the opportunity to undertake this project and providing us with his useful guidance. Our heartiest thanks to our batch mats for their co-operation and help wherever it was required. Last but not the least, we owe our overwhelming gratitude to our friends, who gave us constant support and motivation to continue with this project. Avinash Shaw

Table of Contents:Sr. No. 1. 2. 3. 4.

Topics

Story of Gold’s Gym Power of brand Corporate information Major Players  Fitness first  Power Gym  Talwalkers  Celebrity Fitness  The Gym 5. Location 6. Store layout 7. Merchandising 8. Business division 9. Swot Analysis 10. Bibliography

Topic Page No. 3 4 6 8 8 9 10 11 12 13 14 15 16 17 21

The Story of Gold's Gym Gold's Gym has been providing fitness results since our original location opened in 1965 in Venice, California. The premier gym for serious fitness and Southern California's fitness enthusiasts, our Venice gym quickly became known as "The Mecca of Bodybuilding" and received international acclaim in 1977 when it was featured in the movie Pumping Iron.

Since our first franchised gym opened in San Francisco in 1980, Gold's Gym Franchising has been the #1 health club franchise in the world. In 1993 we reached 1 million members and less than a decade later, in 2000, we had reached more than 2 million total members. In just four amazing decades, Gold's Gym has become the largest co-ed gym chain in the world, boasting more than 600 facilities in 40 states and 30 countries. Gold's Gym has evolved from "The Mecca of Bodybuilding" to a full service health club for every group and fitness need. Now with more than 3 million members worldwide, Gold's Gym's unmatched expertise continues to change people's lives by providing the ultimate fitness experience.

The Power of the Brand Gold's Gym has the highest awareness of any brand in the health club industry. Franchisees benefit from over 40 years of Gold's Gym brand recognition as the fitness industry creator and leader - it's an achievement that provides our franchise owners an instant advantage over other fitness clubs.

Gold's Gym has established worldwide recognition through millions of dollars of advertising placement, consistent P.R. exposure and strategic marketing alliances and promotions. Members trust our tradition of excellence. Our brand awareness is constantly reinforced when they see us in magazines, Hollywood films and TV shows like:     

People, Self, and Men's Fitness Magazines The Dr. Phil Show's official gym for the Ultimate Weight Loss Challenge VH1's Celebrity Fit Club Entourage, Wheel of Fortune, Hogan Knows Best and Extreme Home Makeover Blades of Glory, Fantastic 4: Rise of the Silver Surfer

Corporate information Gold's Gym is privately owned. It was acquired from its previous owner, private equity firm Brockway Moran & Partners, by Robert Rowling's TRT Holdings in 2004 for approximately $158 million. Brockway Moran had acquired the company in 1999. The current chief corporate officers include President and CEO James Weaver, David Fowler as senior divisional vice president, and Aaron Watkins as senior vice president of finance and accounting. Corporate headquarters are in Irving, Texas which is in the Dallas metropolitan area. Since Gold's Gym opened its first international location in Canada in 1985, the company has expanded its global franchising program to include nearly 180 international gyms including operations in Russia, Japan, the United Kingdom, Germany, Egypt, Mexico, India and Peru. In 2004, the company introduced the Gold's Gym Fitness Institute to serve as a think tank on critical health and fitness issues. The Gold's Gym Fitness Institute's members include Dr. Belisa Vranich, Robert Rheames, Mike Ryan and Eric Plasker, among others. Gold's Gym operates a national corporate wellness program. Clients include Whole Foods, the U.S. House of Representatives, American Airlines and Exxon Mobil.

In 2004, Gold's Gym became a national fitness sponsor of the American Diabetes Association's Tour de Cure. In 2006 the company became a National Strategic Partner of the American Diabetes, the ADA's highest designation for a corporate partner. Since their relationship began, Gold's Gym has raised more than $2.5 million to benefit diabetes research, education and awareness. Gold’s Gym India has slowly and steadily carved its name in the Indian market and built a reputation to reckon with.

The India chapter of Gold’s Gym started in 2002, when the first Gold’s Gym India branch was set up at Nepean Sea Road, Mumbai. In the next few years this number grew, and today Gold’s Gym has cut out for itself 18 gym facilities in various cities of the country in Mumbai, Chennai, Ahmadabad, Baroda, Surat, Bangalore, Pune, Noida, delhi, Ludhiana, Kolkata, Jaipur, Jalandhar and outside India in Dhaka, Bangladesh.

Gold's Gym Offers             

Pro Shop Cardio Equipment Group Exercise Rooms Child Care Women's Only Area Pool Tanning Rooms Spa Cardio Cinema Personal Training Group Training Spinning Rock Climbing Walls

           

Senior Fitness Classes Strength Training Locker Rooms Classic Gold's Area Juice Bar Yoga Pilates Racquetball Chiropractic, Rehab and Massage Centers Basketball Sauna, Steam room Indoor Surfing

MAJOR PLAYERS IN INDIAN HEALTH CLUB INDUSTRY

Fitness First Gym & Health Club started as a single health and fitness club in Bournemouth, UK in 1992. Since then, it has grown quite a bit - we're now the largest gym, health and fitness club group in the world with more than 1.5 million Fitness First members in over 550 clubs worldwide. In Asia Pacific alone, we have over 140 clubs! But we still keep that Fitness First one-health club mentality - every single Fitness First member counts.

It has a motto at Fitness First that sets us apart – Real People, Real Results. We're proud to say that more people achieve their health and fitness goals with Fitness First than at any other fitness club! As the fastest growing fitness chain club, it will continue to deliver on its promise of guaranteed value and its aim is to help you achieve your fitness goals - a simple formula with a proven track record of success!18 countries, over 500 clubs, 1.4 million members and growing worldwide.

Powerhouse gym India is brought to you by Q’s Fitness Studio. Q’s Fitness Studio was started in the year 1999. It was in the year 2005 when Q’s Fitness Studio brought Powerhouse Gym to India. Powerhouse Gym had a launch of its Indian operation on 26th November 2005 with state of art 6000 sq ft area facility at Concorde Co-op Housing Society, Ns Road No 10, Juhu. Two existing braches running under Q’s Fitness Studio are now called Powerhouse Gym. Powerhouse Gym India is a Ltd Company concern of Powerhouse Fitness Ltd, the chairperson, Ashok Gupta who has a Master Franchisee for SAARC Countries (India, Nepal, Bhutan, Pakistan, Bangladesh, Srilanka and Maldives).Powerhouse Gym India has state of art facilities, be it equipments, technology and fitness programs that are required to get the desired results for the members.

Established in 1932, Talwalkar’s Better Value Pvt Ltd (TBVF), commonly famous as Talwalkar’s, is India's largest chain of health centers. It has 45 ultramodern branches across major cities in the country, with 50,000 members. Talwalkar’s' phenomenal growth can be attributed directly to the trust our customers have in us, and the benefits they derive from our expert advice, personalized supervision, on-going facility upgrades, result-oriented approach, and above all from Talwalkar’s' immense know-how and experience in this field over 75 years of existence. Talwalkar’s was founded by the late V.R.Talwalkar in 1932, as a single one-room facility in City light, Mumbai. Son Madhukar Talwalkar’s gave the business a new direction by imparting a scientific, disciplined and customer-friendly perspective to the fitness and health regimes offered at the gyms. Today, Talwalkar’s gyms are perceived not as a meeting place for boisterous bodybuilders, but as a health centre where customer health priorities are managed with sensitivity and care. The userfriendly environs and world-class facilities make the Talwalkar’s' experience wholesome and encouraging.

Celebrity Fitness was founded by John Franklin in 2003, and commenced operations in February 2004 with the opening of Jakarta's groundbreaking EX club. The Celebrity Fitness name was chosen for a reason: it is meant to convey each member can exercise as if they are a celebrity as the clubs are designed with Hollywood and Beverly Hills' standards in mind, to pamper and give first quality service to our members. Staying true to the entertainment ambiance, Celebrity Fitness' venues are exclusive malls so that members can conveniently shop, dinein and go to the cinema after working out in the gym. Celebrity Fitness pioneered the concept of combining a fitness center and entertainment ambiance in Indonesia. Moreover, Celebrity Fitness contributes tremendously to the increased awareness of health and fitness in its operating markets today. Celebrity's gym experience proved hugely popular, prompting the group to expand its gym network in Jakarta and grow overseas (starting in 2005 with the 1 Utama club in Kuala Lumpur). As the premier regional fitness center, Celebrity Fitness constantly pushes to provide the best service to its members by tailoring programs and offerings for our members' satisfaction. Celebrity Fitness is the fastest growing fitness company in Asia with 41,000 active members just in Jakarta alone. The branches in Surabaya, Kuala Lumpur and Penang have been getting enthusiastic, positive feedback from members. Celebrity Fitness enjoys its image as trendy destinations for the vigorous, urban and cosmopolitan community and will continue to strive to provide the best fitness experience possible. Celebrity Fitness launched India with the club at JMD Mall Gurgaon, and expects to open more clubs in its existing markets in the near future.

THE GYM is the brainchild of our founders G.Khatter who believe that healthy lifestyle lead to better quality of life. The main idea is to have our members enjoy their fitness trainings in classy and private settings. As such, it is not surprising that THE GYM is passionately led by a team of highly qualified and experienced fitness instructors and health professionals. Our team's passion is to serve our members with sheer dedication, warm friendliness and joyful helpfulness. THE GYM is a fitness club brand that specializes on the prestigious market segment of business professionals and the working professionals. With dedication in bringing the latest fitness technologies, THE GYM is equipped with many hitech equipment and state-of-the art fitness gadgets. Professional personal trainers and trained helpers dedication will ensure that you receive the appropriate fitness program, customized to your fitness and health needs. It currently has the highest trainers to member’s ratio in gym industry. At THE GYM, its mission is to provide you with the ultimate fitness experience, one that focuses on specific fitness needs, helps to achieve the results you are after and invigorates your soul. We guarantee the highest quality equipment and training programs available, an expert staff, special amenities that are often not found in other health clubs, attentive service and truly sophisticated surroundings. Our every Fitness training center is committed to being a unique Fitness training center in India.

Location Gold’s Gym has grown to over 600 locations in 43 states and 25 countries. Find the Gold’s Gym locations to meet your Fitness Goals with variety of exercise equipment and services, including group exercise, group cycling, personal training, cardiovascular equipment, yoga and Pilates. The locations of Gold’s gym have been designed to provide the top gym operators and entrepreneurs across the world.

MARKET PRESENCE

 5 CENTERS TODAY  3 CENTERS UNDER DEVELOPMENT  12 ADDITIONAL SITES IDENTIFIED

Store layout  It always smells clean (not sweaty like other gyms)  Its lobby looks more like a hotel lobby than anything else (it's that clean and spacious)  Off to the lobby there's a little "sitting area" with a TV and chairs, etc...where you can relax  From the treadmills or whatever and grab a snack.  It has the basketball rooms he (ROOMS with basketball hoops).  A GREAT weight room  More eco-friendly  More space  Wi-Fi  There is a bar where you can order shakes.  they have tanning beds too  swimming pool  Everyone, as far as trainers, front desk and daycare staff makes you feel like part of a family  More equipment (machines) to choose from.  Upstairs where the bike classes are held.  The locker room is spacious, No frills or hassles  they have a sauna in the locker room as well

Gold’s gym Merchandises Today, Gold's Gym has expanded its product line. Yes, it still offers weight training in addition to all of the latest fitness equipment and services including group exercise, personal training, cardiovascular equipment, spinning and Pilates and yoga. Gold's Gym Equipment also sells books, accessories and apparel for men, women and children of all ages. You can buy these products online at the company's website, but you can also find Gold's Gym products it almost all fitness retail stores.                        

Gold’s gym Home Gyms Gold’s gym Men's Workout Tops Gold’s gym Treadmills Gold’s gym Elliptical & Cross Trainer Machines Gold’s gym Workout Benches Gold’s gym Video Games Gold’s gym Men's Hoodies & Sweatshirts Gold’s gym Home Gym Attachments & Accessories Gold’s gym Exercise Balls Gold’s gym Exercise Mats Gold’s gym Men's Workout Bottoms Gold’s gym Dumbbells Gold’s gym Cardio Equipment Accessories Gold’s gym Weight Lifting Belts Gold’s gym Women's Workout Bottoms Gold’s gym Resistance Bands Gold’s gym Ab & Waist Machines Gold’s gym Dog Supplies Gold’s gym Body Weights Gold’s gym Women's Workout Tops Gold’s gym Arm & Shoulder Machines Gold’s gym Sports & Recreation Books Gold’s gym Posters & Prints Gold’s gym Medicine & Remedies

                     

Gold’s gym Men's Hats Gold’s gym Travel Accessories Gold’s gym Men's Gloves & Mittens Gold’s gym Men's T-Shirts Gold’s gym Weight Lifting Gloves Gold’s gym Paint & Wall Covering Supplies Gold’s gym Hand Tools Gold’s gym Pilates Equipment Gold’s gym Women's Camisoles Gold’s gym Inversion Equipment Gold’s gym Vitamins & Nutrition Gold’s gym Pull-Up Bars Gold’s gym Kids' T-Shirts Gold’s gym Saunas Gold’s gym Jump Ropes Gold’s gym Spinning Bikes Gold’s gym Chest & Back Machines Gold’s gym Sports & Fitness DVDs & Videos Gold’s gym Other Fitness Equipment Gold’s gym Miscellaneous Gold’s gym Miscellaneous Kids' Clothes Gold’s gym Miscellaneous DVDs & Videos

Business divisions of Gold’s Gym  Gymnasium service: Gold’s gym offers health services in all the 5 centers in Delhi and NCR and 8 centers in Mumbai.

 Spa service: The group offers steam, sauna and showers services with the time duration of one hour prior to appointments

 Massage service: It offers service for full body massage for the time span of one hour subject prior to appointments

 Yoga service: gold’s gym also provided the Yoga services for its members.

 Aerobics services: Aerobics is also offers by the Gold’s Gym. It is a form of physical exercise that combines rhythmic aerobic exercise with stretching and strength training routines with the goal of improving all elements of fitness (flexibility, muscular strength, and cardiovascular fitness). It is usually performed to music and may be practiced in a group setting led by an instructor.

Following is the SWOT Analysis for Gold’s Gym

STRENGTH  it’s fast  it has different schemes at best affordable prices  it has special offers for spouse membership  it has national and international certified trainers  its membership schemes varies according to the demography

 Latest technology and low cost advantage.  Huge market.  National and international expansion and Exposure  Richness of facilities for target customers  Usage of best machines and technology of the future.

OPPORTUNITIES

WEAKNESS  Untapped central region of Delhi market  It can be difficult to understand the different market Structure.  High price

 Competition from upcoming health industries.  High customer churn.

THREATS

(This SWOT analysis is made by the help of Mr. BALRAJ SINGH who is former Mr. India and right now working as a senior instructor with Gold’s Gym)

STRENGTH

 VERY FOCUSED ON FITNESS : Gold’s gym is largely focused on the fitness

of the consumers; around 73% of the revenue comes from the gymnasiums

 EXCELLENT SCHEMES IN BEST AFFORDABLE PRICES: It has been found

that majority of the customers look for suitable schemes and this is one of its major strength.

 PRICING ACCORDING TO DEMOGRAPHY: Prices of all the branches varies

according to the locations. It is like a healthy contribution from our side.

 CUSTOMER CARE SERVICES: Customer care services of Gold’s gym have

been found excellent by all its users. 90% of the respondents are satisfied by its customer care services.

WEAKNESS

 PRICE COMPETITION FROM POWERHOUSE AND TALWALKAR’S: Addiction is facing tough competition from the service providers like POWERHOUSE and TALWALKARS as these two are offering services at a low rate.

Although Gold’s gym have strong Presence throughout the Delhi but still they are far away from the central part and generally this part is covered by Fitness First and THE GYM so indirectly Gold’s gym is loosing revenue from the central region.

 UNTAPPED CENTRAL REGION OF DELHI:

OPPORTUNITIES

 LATEST TECHNOLOGY: The Gold’s gym needs only to augment its

equipment capacity and increase the number of base stations. The number of machinery it has covered already works to its advantage as putting more base stations for the full coverage. Besides such cost advantages, it has also other cost advantages for the latest machine technology. As a late entrant into the market, it has dual advantage of latest technology with modern features, unlike other private gym operators who started their service more than 4-5 years back.  HUGE MARKET: The market for health industries is presently expanding at a phenomenal / whopping rate every year and there is still vast scope for Gold’s gym to enter /expand in this market. Many customers are looking towards Gold’s gym for providing the service to them. With its wide and extensive presence in all the areas, Gold’s gym poised to gain a big market share in this segment when it expands its services. THREATS

 COMPETITION FROM OTHER UPCOMING HEALTH INDUSTRIES: It is time for Powerhouse gym to improve/expand its services. Fierce and cutthroat competition is already in place with the markets ever abuzz with several reductions and announcement of attractive packages, trying to grab most of the ‘mind share’ of the ‘king’ - ‘the consumer’, whose benefits are increasing with passing of everyday. If Powerhouse is not innovative and agile, its service will be a flop. It needs to be proactive with attractive packaging, pricing and marketing policies lest its presence in the market be treated with disdain by the private companies.  HIGH CUSTOMER CHURN: There is high customer churn i.e. they can come and go as they please resulting in bad debts.

BIBLIOGRAPHY WEBSITES: www.goldsgym.com www.gymnasium.com www.fitnessworld.com www.healthindia.com www.google.com