Chapter 14
What is the most important part of the financial strategy process?
If you were to start a sports facility business, what business model would you use and why?
What do you think is the future of the Pilates industry and why? Examine the industry as a strategic investor who might want to invest money in opening a
Pilates studio.
If you owned a professional team in the United States and were thinking about expanding internationally, where might you attempt to purchase a similar
sports league–based team? Support your decision with sound research and advice.
If you ran a bowling alley that was struggling financially to pay the bills, what strategy would you pursue if you start falling further and further behind in paying
your bills?
The most important part of the financial strategy process is setting realistic goals. Goals should be specific and measurable, and they should provide a clear roadmap to help guide decision making throughout the process. For a sports facility business, I would use a franchise model because it allows for established brand recognition without having to start from square one in terms of marketing and customer acquisition. It also provides an existing infrastructure which can be leveraged from day one, reducing the need for extensive setup costs. Additionally, with a franchise model you are able to leverage relationships with suppliers and other businesses that have already been established by the franchisor.
The most important part of the financial strategy process is setting realistic goals. Goals should be specific and measurable, and they should provide a clear roadmap to help guide decision making throughout the process. For a sports facility business, I would use a franchise model because it allows for established brand recognition without having to start from square one in terms of marketing and customer acquisition. It also provides an existing infrastructure which can be leveraged from day one, reducing the need for extensive setup costs. Additionally, with a franchise model you are able to leverage relationships with suppliers and other businesses that have already been established by the franchisor.