I am creating a Managed Growth venture. Rapid growth brings instant size and a need for additional support with coaching 12 Week and Monthly clients. We have considered creating a certification and licensing program to accompany the SKF programs. Quality control and managed expectations is an issue when bringing on additional service providers.
The desired timeframe for the eventual sale of SKFitLife is 5 years from 2016. Aggressive growth and the expansion of product offerings would require additional investment dollars, but due to the amount of control SKFitLife would like to maintain, if anything, we will be seeking loans from established financial institutions.
The product
offering has vast geographic appeal because the products are delivered through an
online and application platform. This allows for customers and clients across the United
States and globally to purchase the products. Technology allows the products to be
accessed anywhere in the world where there is an internet connection and access to a
laptop or smartphone. Languages could be expanded in the future to include Spanish,
Italian, German, Portuguese and Mandarin allowing for expansion into globally diverse
markets.
Annual growth rate 10-15%
Time horizon 1-2 years
Management focus incremental and strategic for growth and scalability
Management style strategic
Entrepreneurial orientation moderate
Technology investment moderate
Liability of smallness less significant
Source of finance self, family and friends, bank, private investors
Exit strategy sell, merge
Management skills planning, strategizing, delegating, leveraging
Structure functional, centralized functional
Economic motives wealth creation
Reward emphasis salary, performance incentives, equity
I agree that quality control would be a major issue for your company when considering expansion. My daughter has a day job as a family doctor, but her second love is physical fitness. She is participating as a Beachbody coach. Because she signed up, she persuaded me to sign up under her. My heart was not in it. May wallet was not in it. I may have lasted three months before I canceled. I had to send a written letter, by mail, to cancel. They did not make it easy.
ReplyDeleteSo long was you take on truly committed coaches - this is a great expansion opportunity for you. My daughter still participates with Beachbody and loves it.