StrapUps 1 Page Business Plan
Overview
StrapUps have a clear business objective to develop, produce, promote and distribute Performance Enhancing Resistance Straps products and services. These products and services have been developed over 7 years with a core focus on addressing the key customer problem and associated opportunities.
The Business Objectives
As a key component of our growth strategy we consider it critical to identify and outline our business objectives, and align these objectives with clear and measurable development milestones. Our key long term business objective is to launch a new product. Our growth path is clearly oriented around the development of these new products and the subsequent marketing of these. It is understood that costs will be associated with product development and marketing and these have been allowed for in our budget.
The Customer
StrapUps have been created with a clear focus on the needs of our customers. Through a structured customer discovery process, we have validated the key customer problem as relying on stationary and/or bulky fitness equipment for resistance training with an elevated risk of injury. This is a critical issue for our selected target market of athletic competitors.
The Value Proposition
StrapUps are uniquely positioned to deliver extreme value to athletic competitors. "StrapUps will change the way you train forever safely and with results you can feel instantly." In order to be delivered on this value proposition, we bridge the gap between several pieces of fitness equipment you already trust and introduce dynamic and innovative methods of training for optimal performance while lowering the risk of injuries. These capabilities have taken considerable time and resources to develop and form the cornerstone of our competitive advantage.
Competitors
We have a number of competitors within the Performance Enhancing Resistance Straps market. We consider our key competitors to be: Golds Gym, Bodylastics, SKLZ, GoFit, Nike SPARQ and Perfect. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with Golds Gym, Bodylastics, SKLZ, GoFit, Nike SPARQ and Perfect doing much more at a lower cost with security, comfort and style.
Key Strategies
Over the next 6 months our focus will be to get StrapUps in the hands of local sports teams with demonstrations and workshops. This task will be undertaken in the context of our broader strategy to develop the Elite Pack with specialized equipment and training for coaches/class instructors. These strategies are the tactical implementations of our overall business goal as outlined above.
Milestones
Measurement of the successful implementation of our strategies will be governed by measurable development milestones. The milestones that will be achieved over the next 2 years are: Sale first 100 units, get StrapUp programs in 4 gyms and with 7 teams, and lastly either get a licensing deal or product placement on shopping channels and/or retail stores.
About this document
Performance Enhancing Resistance Straps Business Plan
This document was created by Stephen of StrapUps using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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