Market Research For New Gym Location

Objective : Market Research to identify and recommend the best location for a MMA/Cross Fit Gym Service Offering within the Denver, Colorado Metropolitan Area. The methodologies by which the objective would be accomplished are summarized below: Research Methodologies: 1. Market: an investigation of the Denver area MM/Cross Fit Gym Market size , target market demographics and customer profile will be conducted to determine the following: 1.1. Market Size 1.2. Local Market Demographics 1.3. Target Market 1.4. Customer Profile 2. Competition: The largest and potential direct competitors will be studied to identify niche, underserved and unserved sectors, competitive diferentiator and the potential effect on profitability 2.1. Largest Competitors 2.2. Potential Direct Competitors 3. Target Customer Profile: The target demographics would be studied and analyzed to identify and estimate the number of customers that have the need for the service , the means and ability to pay for it. 4. Deliverable: Based on the findings of the research, a report on the market size, target market and its demographics, competition, target customer profile and market survey questionnaire will be prepared. The Report will include Recommendation s about the best place to locate the Gym based on the following factors: 4.1. Target Market Size and estimated Compounded Annual Growth Rate, Population Density , particularly service offering need of the General Fitness Customer base within the cross fit/MMA Training Style Sector. 4.2. The Market Demographics featuring distribution by population, gender, race, household income, marital status, age, education, home ownership, distance from the business location, employment type, new and future growth opportunities and growth areas. 4.3. The unique type of service that will be provided by the Gym that either is not currently being provided or being underserved. 4.4. The Target Customer Profile: need and want for the Gym service and ability to pay for the services; who will buy and how they buy, i.e. method of payment (cash, credit, online, etc…) , why they buy (convenience, price, quality, reputation, quality, location, selection, brands, impulse) and the frequency of their purchases of Gym Services; what complimentary services and/or products they are likely to buy. 4.5. The Competitive Landscape: largest competitors, what the nearest competitors are offering or not offering that will have an impact on profitability and how to emphasize the service offering’s Competitive Strengths, maximize its Opportunities and mitigate its Competitive Weaknesses and Threats.