Value Gym (VG) Peter is a qualified fitness instructor. He used to work at a luxury gym in Malaysia. Customers of this l

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Value Gym (VG)
Peter is a qualified fitness instructor. He used to work at a
luxury gym in Malaysia. Customers of this luxury gym pay a high
monthly membership fee no matter how many times they visit. There
are no additional fees. Peter enjoys helping people get fit and
lose weight and he enjoys teaching exercise classes. Peter wanted
to help more people to get fit or build up their muscles, so he
decided to set up his own gym. Peter thought there was a demand for
low priced gyms that allowed people to pay each time they used it
rather than pay a high monthly fee. So, he left his job and set up
his own gym in a low-income part of the city. Peter named his
business Value Gym (VG) and opened it three months ago. Peter
needed a large bank loan to help him set up his gym as he only had
$5 000 of his own money. He is a sole trader. He prepared a
business plan to show the bank manager. VG has been very
successful, and Peter is expecting to make a profit by the end of
his first year as an entrepreneur. However, he still wants to
attract more customers to the gym. He knows that marketing will be
very important if his business is to expand. Peter has estimated
that VG will soon need 4 personal trainers to work in the gym.
Peter has not decided whether to employ these personal trainers or
to allow personal trainers who work for themselves to use VG's
facilities for a fee. The gym is open from 0600 until 2200, 7 days
a week. Customers pay for each day they use the gym. In addition,
customers can pay for a personal trainer if they want individual
tuition.
a) Peter wants to hire trainers, discuss the SIX (6) elements
that involves in the Human Resource Management for the process of
acquiring, deploying and developing people for Value Gym (VG)
success. (12 marks)
b) Briefly explain the THREE (3) key financial statements that
Peter needs to do for Value Gym (VG) business. (9 marks)
c) Explain with examples any FIVE (5) decision making criteria
that Value Gym (VG) business goes through when choosing a location
to do business. (10 marks)
d) Peter intend to purchase equipment for Value Gym (VG).
Briefly explain the FIVE (5) consumer decision making processes
that Peter will undertake to purchase the equipment for Value Gym
(VG). (10 marks)
e) As a finance assistant to Value Gym (VG), you are to briefly
explain the THREE (3) users of the financial statement and what is
the information used for. (9 marks) (Total 50 marks)