Business plan of a gym in Saudi Arabia Essay Example | Topics and Well Written Essays - 6000 words

Business plan of a gym in Saudi Arabia - Essay Example Saudi Arabia is a developing nation and provides a huge prospect for new business. Though political unrest and men women segregation is a area of concern but the commitment of the government towards new reforms shows a ray of hope. The country is very eager in welcoming foreign investment, which is good news for the investors. Though the new gym may face competition from the existing businesses but it can overcome that obstacle by providing updated equipments and better customer service. To attract more and more customer it can provide some lucrative introductory offer and some combo offers too. Member should be given higher privileges. Customer’s feedbacks are to be taken regularly and should work on them. In the initial years the company should look more towards attraction and retention of customer and less towards profit. The market of Saudi Arabia was analyzed on the basis of the secondary data. A thorough research was done by consulting various journals, books, newspaper and various governmental and nongovernmental websites to have an in-depth knowledge. These sources have helped to track the possible customer segment and analyze the competitors present in the market. An in-depth study of the political, economical, social, technological, legal and environmental framework of the nation was done to get a clear picture of the nation.... Legal requirement for starting a business: The legal formalities to be done for starting the business 6. General requirement: Overall requirement of the business 7. Operational Plan: the day to day operations are highlighted 8. Financial aspect: The financial projection of the gym 9. Conclusion: Some recommendation for the new business and its future prospects. Introduction Saudi Arabia is a huge country, well known for its arid deserts and various high lands covering of an area of about 2.15 million km. The overall climatic condition is dry and hot with scarce rainfall but some of the south- western and western coastal areas experiences heavy rainfall. Saudi Arabia serves as the world largest reserve for petroleum and exporter as well. Most of its wealth comes from the industrial sector. Oil and petroleum mining contributes about 51% of the GDP whereas service sector contributes about 43% and about 5% is contributed by the agriculture1. Obesity is an area of concern for the whole wo rld. It is affecting all the levels of society and is coined with the name as Global Epidemic. In recent years high rate of child obesity is observed in the developed countries as well as in developing countries2. Obesity among children and adolescents has become a public health problem for the Eastern Mediterranean region. With rapid changes in nutrition and urbanization in the recent times, Saudi Arabia has estimated about â€Å"26.6% and 10.6% of the adolescents aged 13-18 years are overweight or obese† respectively3. Furthermore the serial cross- sectional assessment carried out in Saudi children and adolescents on Body Mass Index (BMI) or percentage of fat in the body has confirmed a rising trend in obesity. Overweight along with obesity among adults especially among 30-60 years is