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HSTM 4470 Operating Budget of the Annual Yoga Fit Challenge Discussion Paper

HSTM 4470 Operating Budget of the Annual Yoga Fit Challenge Discussion Paper

Question Description

You only need to help me to do the Marketing Plan/Operating Budget.

3 pages double spaced

Just Do Fit! The Annual Fit Yoga Challenge is approaching quickly. Yoga and cardio events for all levels of ability will be scored and the winners will get bragging rights for the whole year! This fitness event is hosted by The Get Fit Gym and the local YMCA with all proceeds benefiting the YMCA’s youth fitness camp. The event is the Fit Yoga Challenge and it is a 501c3 event that is held every year to raise money for a locally based charity. This year’s event will send children from 5 to 15 to a 2 week fitness camp in northern Georgia. The goal is to fund the scholarship for at least 100 children.

This event is a fitness challenge. Participants pay a $25 entrance fee for each event they wish to attend. The challenges are made up of 4 cardiovascularly intense challenges. Gym instructors will be on hand to guide and score each competitor. The participant with the best score wins the competition. During the highly exciting cardio competition, there will also be group yoga classes for different ability levels. There will be a small gathering with light refreshments afterward for people to mingle, donate, and possibly join the gym.

This event benefits the participants in a physically active social event, it benefits the sponsor gym with potential new members, and it benefits the community with the donations for local charities. The gym would host as an in-kind sponsorship, and other services would be potential sponsorships or donations.

Patty Shaulis will be making all submissions. The introductory statement is produced by the group, while Taylor completes the Strategic Plan, Patty outlines the Sponsorship Sales & Activation Plan, Stephanie handles the Unique Concepts, and Yiran manages the Marketing Plan/Operating Budget. The mission for this event is to raise money for local charities while participants enjoy physical activities.

please help me with the Marketing Plan/Operating Budget part. Since this is mainly a charity project, please try to keep costs down. st write some publicity on the Internet, such as facebook, instagram. Cooperation with the local area? In terms of cost, venue, food, staff (volunteers?)

HSTM 4470 Revenue Generation


Everyone in this class will most likely have a different area of interest, well maybe not since you are all in the same segment of the industry. I want this project to reflect your Area Of Interest (AOI). You may choose to stay within the sports industry (examples will need to be different than that showcased in our text book), or within the hospitality and/or tourism industries. See the end of the assignment for formatting guidelines. PLAGIARISM NOTE: please be aware you cannot use any work of similar assignments that has been submitted for a grade in ANY other class, college, or school project. This is a very popular assignment that benefits you in preparing for becoming your our business owner. What you choose to create and submit should be designed specifically for this course.

Several of you have created a formal business plan as part of your capstone project, therefore, this assignment will take a different angle. Each of you in the group will be one of the three/four executive committee & this will need to be identified in the opening introductory statement. This is assignment is for your group to develop a business and create a business plan, forecasted budget, and sponsorship promotional plan. To fully develop your business plan you will use the information from TOURISM text Chapter 9; HOSPITALITY text Chapter 10; and Chapters 14 & 15 SELLING/SPORT: Customer retention and sponsorship sales. Please remember that all of these chapters can be applied to and HSTM business, so just because it says “Marketing Restaurants and Lounges” – it can also be applied to any other HSTM business venture.

1) Introductory Statement of your business concept in your Area of Interest (needs to be within the HSTM industry) – give your business a name, mission, and let us know your financial objectives (this should be a for profit company with a 501c3 charity component or partner). Identify the executive members of your group and their title (i.e., CEO, CFO, CTO, etc).

2) Develop a Strategic Plan for your business. This should include your mission statement, vision, marketing tactics, and description of your products and services. Identify the charity (501c3) component and why it links to your business in a positive match. Please think about all aspects of this portion and don’t just copy and paste what the book may list, utilize your skills that you have learned in the readings and research you have done with some of the successful companies we have highlighted in this course. These tactics should include new ideas/trends that are currently taking place in the industry. If you plan on expanding after 3-5 years of successful growth, don’t forget to add that in your future projections. Make sure to include resources from your readings required for this class.

3) Sponsorship Sales and Activation plan…your business will either be pitching to a major company to invest a partnership or sponsorship (i.e., Coca-Cola, Gatorade, a major beer distributor, car dealership, etc.) or considering a sponsorship deal to invest in as a sponsor. This should be according to the Eduselling model in Chapter 8 (SPORT) for your sales pitch or describe your activation expectations, service plan, and evaluation process if you are investing as a sponsor (See Chapter 15 SPORT).

4) UNIQUE CONCEPTS: Make sure that you include sustainable concepts into your business plan and your social media execution plan (that should include the website; differentiate between what is offered to consumers on social media vs. website). This section should also address your corporate social responsibility position.

5) After preparing you Marketing plan & sponsorship sales plan, you should have enough of the basic concepts of the business to prepare an operating budget (example pg. 129 TOURISM Text). List the cost categories (expenses), forecast your financial revenues, and compute the budgeted income for the first year of your business. Please make note of when you plan to open based on the seasonality of your industry. This budget should include an explanation statement of forecasted revenue and expenses. Examples include number/salary of employees, explanation of seasonal employees vs. full-time, these figures should include number of hours worked per week for seasonal employees, uniforms, equipment and supplies, rent and/or loan payment, ect.

Format guidelines:

Minimum 15 pages (2,100 words) ; double – spaced, 12 pt font, 1″ margins all around, title page, pictures/logo as an appendix and will be in addition to the 10 pages. Anyone is welcome to submit this in a power point presentation (25 slide minimum – voice narrated ), prezi (30 slide minimum – voice recorded), or a video tutorial (minimum 14 minutes) along with the supporting documents. For instance, if you have your sponsorship sales presentation prepped for a client in PowerPoint, submit that presentation as your item #3.

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