Dragon'S Fitness Gym: A Feasibility Study

DRAGON’S FITNESS GYM
A FEASIBILITY STUDY
Presented to
the Faculty of the School of Business and Accountancy
Pilgrim Christian College
Cagayan de Oro City
In Partial Fulfillment
of the Requirements
in
Accounting 16c – Feasibility Study
By:
Ernest Joy C. Apag

Cyle B. Dimacutac
Crystalyn P. Macatual
Jamilah Macabalang
Albert P. Sagayno
Mark John D. Sambaan
Jessela T. Valiente
Frich Faretawn T. Vedra
Cyril Niño J. Virtudazo
Submitted to:
RUINO L. RENOBLAS, CPA, MBA
October 2019
APPROVAL SHEET
This feasibility study entitled “DRAGON’S FITNESS GYM”, prepared

and submitted by Ernest Joy C. Apag, Cyle B. Dimacutac, Crystalyn P.
Macatual, Jamilah Macabalang, Albert P. Sagayno, Mark John Sambaan,
Jessela T. Valiente, Frich Faretawn T. Vedra, Cyril Niño J. Virtudazo in
partial fulfillment of the requirements for the course ACCOUNTING 16C has
been examined recommended for oral examination/defense.

Adviser
PANEL OF EXAMINEES
Approved by the panel of examiners in partial fulfillment of the
requirements for the course ACCOUNTING 16C with a grade of ____.

Chairperson
Member
Member
Accepted and approved in partial fulfillment of the requirements of the
requirements for the course ACCOUNTING 16C.
ESTERLITA D. BATION, MBA

OIC/Dean, School of Business and Accountancy
2
ABSTRACT
The purpose of this feasibility study was to explore the possibility of

opening a Physical Fitness Gym that offers different indoor activities---
physical workouts, defense classes and zumba. Our target markets are the
students, young professionals and the middle aged people located in
Cagayan de Oro City. The Dragon’s Fitness Gym is located at the heart of
the city, Divisoria. We specifically situated in that area to attract more clients
that are interested in living the healthier lifestyle, the place is also very
accessible to people. The criminal rate in the city is rapidly ascending thus
we feel the need to provide defense classes to help fellow Kagayanons feel
safe and secure wherever they go. We want them to know that no matter
what gender you are, you can defend yourself enough until you can call for
help. We also have zumba classes for those people who do not want to exert
so much effort using machines, through this class we can also get to know
other people and might form camaraderie along the way. In this way,
exercising becomes less of a struggle but more fun. For clients who want to
really enroll in our fitness program, we provide much different kind of
packages. We offer discount rates for our loyal clients and give discounts to
students who want to change their lifestyles. If you don’t want to avail the
membership promos, we accept walk-ins that give them enough packages to
choose from. The Dragon’s Fitness Gym aims to inspire people to change
their lifestyles into a healthier way that will help them guarantee a longer life.
Disclaimer: all rates and expenses seen in this study are reality based. We
did all possible researches to be able to give illustrations that actually apply
to existing fitness gyms.
Keywords: fitness, indoor activities, workouts, secure, camaraderie,
healthier
3
ACKNOWLEDGEMENT
This feasibility study would not be possible without the guidance and
help of several individuals, who, in one way or another, have contributed and
extended their valuable assistance for the success of this study.
The researchers would want to give appreciation to our adviser who
greatly shared his knowledge to us with patience and diligence in helping us
complete the necessary works throughout the study.
Also, we give thanks to our parents for their unconditional
understanding and for sharing their wisdom that inspire us to push beyond
our limits and as well as giving financial and moral support.
We give thanks to our friends and colleagues that spend their time
and consumed a lot of effort to help us make this feasibility study a success
within the limited time allotted.
Above all, we give our sincerest gratitude to our ALMIGHTY GOD in
securing our safety and furnishing us the necessary resources that leads for
the accomplishment of this study.
4
TABLE OF CONTENTS
Page
Title Page i
Approval Sheet ii
Abstract iii
Acknowledgement iv
Table of Contents v
List of Tables vii
List of Figures viii
I.THE BUSINESS
A. Executive Summary 1
B. Business Description 1
C. Business Legal Status 2
D. Project Background & History 3
E. Mission Statement 3
F. Vision Statement 4
G. Business Objectives 4
H. Organizational Development 6
II. MARKET STUDY 9
A. Demand and Market 10
B. Competitive landscape in Philippines Market 10

C. Marketing Strategies 11
D. Price/ Rates 11
E. Survey Results 12
III. TECHNICAL ASPECT
5
A. Plant Capacity 25
B. Materials And Equipment 27
C. Furniture and Fixtures 33
D. Location And Site 37
E. Project Engineering 37
IV. FINANCIAL ASPECT
Financial Assumptions 41
Statement of Financial Position 43
Statement of Financial Performance 44
Statement of Changes in Equity 45
Statement of Cash Flows 46
Notes to Financial Statement 47
Financial Ratios 49
V. SOCIO DESIRABILITY ASPECT
SWOT Analysis 50
References 53
Curriculum Vitae 54
Appendices
Job Description 64
Code of Conduct 73
Employee Benefits 85
6
Salary Structure 86
Survey Questionnaire 87
Documentation 88
7
LIST OF TABLES
Title Page
Table 1.0 Percentage Distribution of Respondents According to Gender 13
Table 2.0 Frequency and Percentage Distribution of Respondents’
Age Bracket 14
Table 3.0 Frequency and Percentage Distribution of Respondents
According to their Occupation 15
According to their Monthly Income 16
If They Currently Go To Gym 17
On How Often they go to Gym 18
About Their Preferred Time to Visit to Gym 19
On How Much Are They Willing To Spend 20
According to their Preferred Amenities. 22
According to what form/forms of exercise do they
Currently participate in. 23
Table 11: Gym Equipment Quantity and Price 32
8
LIST OF FIGURES
Title Page
Figure 1.0 Percentage Distribution of Respondents according to Gender 13
Figure 2.0 Percentage Distributions of Respondents

According to Age Bracket 14

According to Occupation 15

According to Respondents’ Monthly Income 16

if they are currently goes to gym. 17
on How Often they go to Gym. 18

about their Preferred Time to Visit to Gym 19
on How Much they are willing to Spend 21
According to their Preferred Amenities 23
Figure 10.0 Percentage Distribution of Respondents according
to what form/forms do they currently participate in 24
Figure 11.1 3D First Level Floor Plan 25
Figure 11.2 2D First Level Floor Plan 26
Figure 12 Second Level Floor Plan 26
Figure 13 Building Perspective 27
Figure 14 Map 37

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DRAGON’S FITNESS GYM

Ernest Joy C. Apag

RUINO L. RENOBLAS, CPA, MBA

This feasibility study entitled “DRAGON’S FITNESS GYM”, prepared

RUINO L. RENOBLAS, CPA, MBA

Approved by the panel of examiners in partial fulfillment of the

requirements for the course ACCOUNTING 16C with a grade of ____.

RUINO L. RENOBLAS, CPA, MBA

Accepted and approved in partial fulfillment of the requirements of the

requirements for the course ACCOUNTING 16C.

ESTERLITA D. BATION, MBA

The purpose of this feasibility study was to explore the possibility of

Keywords: fitness, indoor activities, workouts, secure, camaraderie,

extended their valuable assistance for the success of this study.

The researchers would want to give appreciation to our adviser who

greatly shared his knowledge to us with patience and diligence in helping us

complete the necessary works throughout the study.

Also, we give thanks to our parents for their unconditional

our limits and as well as giving financial and moral support.

within the limited time allotted.

Above all, we give our sincerest gratitude to our ALMIGHTY GOD in

the accomplishment of this study.

List of Tables vii

List of Figures viii

C. Business Legal Status 2

D. Project Background & History 3

II. MARKET STUDY 9

A. Demand and Market 10

B. Competitive landscape in Philippines Market 10

III. TECHNICAL ASPECT

IV. FINANCIAL ASPECT

Statement of Financial Position 43

Statement of Financial Performance 44

Statement of Changes in Equity 45

Statement of Cash Flows 46

Notes to Financial Statement 47

V. SOCIO DESIRABILITY ASPECT

Table 1.0 Percentage Distribution of Respondents According to Gender 13

Table 2.0 Frequency and Percentage Distribution of Respondents’

Table 3.0 Frequency and Percentage Distribution of Respondents

According to their Occupation 15

Table 4.0 Frequency and Percentage Distribution of Respondents

According to their Monthly Income 16

Table 5.0 Frequency and Percentage Distribution of Respondents

If They Currently Go To Gym 17

Table 6.0 Frequency and Percentage Distribution of Respondents

On How Often they go to Gym 18

Table 7.0 Frequency and Percentage Distribution of Respondents

About Their Preferred Time to Visit to Gym 19

Table 8.0 Frequency and Percentage Distribution of Respondents

On How Much Are They Willing To Spend 20

Table 9.0 Frequency and Percentage Distribution of Respondents

According to their Preferred Amenities. 22

Table 10.0 Frequency and Percentage Distribution of Respondents

According to what form/forms of exercise do they

Currently participate in. 23

Table 11: Gym Equipment Quantity and Price 32

Figure 1.0 Percentage Distribution of Respondents according to Gender 13