The setting up of any company is quite difficult. While setting up a corporation, an entrepreneur plans to face both the personal and financial uncertainties. Thus, this shows that one’s money is at risk when setting up a company. Therefore, an entrepreneur should have both personal and business motivations before setting up a company. Hence, this paper focuses on the various motivations, both personal and business motivations, required to set up a gym in Barcelona. In addition to that, it will concentrate on the different costs of investments, as well as, the expected expenditures and revenues.
The first motivation for the creation of a gym in Barcelona is passion. Passion is always a startup factor before setting up any business. Most importantly, passion fuels the success of a corporation since a person is devoted entirely to ensure that a business runs in the correct way. Another reason behind the setting up of a gym in Barcelona is to create value. Most business people are builders. For a person to be successful, they require to set up offices and corporations that bring in the desired change (Schwieger, & Ricks, 2015). In Barcelona, most high-quality gyms are quite expensive hence excluding a particular group of people. On the contrary, gyms that are not well equipped are quite cheap, but the services offered are not desirable. Therefore, this shows that Barcelona requires a highly and well-equipped gym that is accommodative for every class of people to attend. Thus, this indicates that the gym will offer low and affordable prices, as well as, high-quality services that will result in customer satisfaction.
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Contrary to that, the gym is set up in Barcelona to change the world in that it would act as a source of motivation for a majority of the entrepreneurs in the state. For instance, the fact that the gym will offer high-quality services and low prices at the same time would help in encouraging business people always to be concerned about the people with whom the services are provided to. For any business to be successful, it has to provide high-quality services at an affordable price. Further, another motivation for the creation of gym in Barcelona would be to be in control in that it aims at outdoing other competitors by offering better commodities and services. The gym would do better than any other gymnasium located in the area. The last motivation for the setting up of the corporation would be for money. The strategies that will be implemented in the company would help in raising the profits primarily.
In this section of the paper, it will focus on the needed investments that would be necessary for the setting up of a gym in Barcelona. The first thing that should be considered would be the incorporation of the firm into the country by filling in the required papers and getting the licenses needed to run the company in the state. Thus, in this case, the costs are incurred to register a business in the state leading to the acquisition of the EIN (Employer Identification Number). Another investment is a gym website that helps in informing the public about the services offered by the gymnasium. In most cases, a good and well-designed website would be critical in bringing in various amounts on investments in a company since it helps in the convincing of the people into the corporation.
On the contrary, the other critical investment required for setting up the business would be to pay for the lawyers. Lawyers are helpful in business to protect it from any lawsuit, IRS and the government amongst others. Despite the fact that lawyers cost much in business, they help a company more from any legal suits that may be filed against a corporation. Besides that, business insurance in a gym is critical since they are dangerous. In some cases, individuals exert themselves more than required. As a result, injuries are inevitable. Therefore, business coverage is essential for any gymnasium. Another investment required is to find a location whereby an entrepreneur can opt to purchase or lease a place for locating the business. The internet could be essential in finding out the best places to set up a gym in Barcelona that will be accessible by the majority.
Further, another investment required to set up a gym is the equipment needed. The first thing to consider before the purchase of any gymnasium equipment is to know the kind of a gym that one wants to start. If classes are included in the gym, it will be required to purchase equipment that will be available for the available personnel willing to attend the fitness center. Some of the equipment needed in a typical gym includes a treadmill, squat bars, weights, and the weight bells amongst others (Pakroo, 2016). In addition to that, gym administration software is also critical since it helps in the checking of the visitors, billing, e-mail updates, scheduling of the classes and the reminders for the credit cards as well. Despite the fact that gym supervision software may be expensive, it would ease the running of the gymnasium. Lastly, some of the other gym investments include the advertisement skills and strategies, the payment of the employee wages and the tracking of the finances in a corporation.
One of the primary sources of revenue is a gymnasium is the membership fees that could either be paid in cash or use electronic funds transfer. The annuals fees of a member, as well as, the maintenance fees help in bringing in the revenues in a gymnasium. Other income sources of the gym would be a promotional package that is often at different times in a year. Retail sales that comprise of the beverages sold in the gym would be another source of revenue in the company. Some of the expenditures that would be used by the company include the amounts incurred in advertising, payment of the employees, purchasing of the cleaning supplies, costs incurred in the advertisements, as well as, the monthly insurance costs. In addition to that, the gym would require constant maintenance of the equipment available that would be significant in ensuring that the machines are in good condition to provide adequate safety. Contrary to that, the corporation would incur some of the office expenses. Importantly, in every gymnasium, some operating costs are required for the appropriate functioning of a gymnasium. Besides that, in a gym, some miscellaneous expenses would be noted in that a gym requires purchasing the various customer benefits such as pizza, drinks, and snacks that would help in motivating a client to attend the gym regularly. However, the meals and benefits would occasionally be offered such as one day in a month.
In conclusion, this paper shows the various motivations for the creation of a gym in Barcelona that is inclusive of passion and the need to create value in the state. Besides that, the paper focuses on the various forms of investments that would be required to set up a gym that includes the purchasing of the insurance, the gym equipment, the need to get a lawyer and the leasing or purchase of a location to create the fitness center. Lastly, the article has focused on the various sources of revenues, as well as, the expenditures that would be used in the corporation.
References
Pakroo, P. (2016). Women's Small Business Start-Up Kit, The : A Step-by-Step Legal Guide . Berkeley, CA: NOLO.
Schwieger, D., & Ricks, J. (2015). Unused Services at Get Fit Gym. Journal of the International Academy For Case Studies , 21 (3), 159-176.
