Subject category:
Entrepreneurship
Published by:
Cranfield School of Management
Length: 5 minutes
Data source: Field research
Notes: File size 513.6MB. Click for more information.
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Abstract
This video is to accompany the case ''802-084-1''. The abstract of the case is as follows: The Fitness Express (FE) case, Part 1 examines the start-up and early growth problems and opportunities of two youthful entrepreneurs, Dave Courteen and Steve Taylor. Via a carefully focussed market strategy (''over 40''s'') and a true customer service orientation, a chain of 14 health clubs was successfully developed over 12 years. The partners were then able to contemplate further rapid growth in a joint venture with a 36 strong hotel group, Swallow. Detailed negotiations were all but complete, when Swallow itself was absorbed by a larger hotel chain, which already had its own health club organisation. Further growth for FE therefore, was to be either by continued organic development, or by acquisition of smaller groups by FE, or outright sale of the company. Part 2 of the case details the outcome of these options, with FE subsequently negotiating a satisfactory sale of the company to a large fitness leisure group, (Crown) with a brief for the partners to grow the larger group by acquisitions and injection of the ''FE formula'' into existing Crown companies and new acquisitions. Will the entrepreneurs be able to respond to the challenge, in a new corporate environment?
Location:
Industry:
Size:
GBP2 million turnover
Other setting(s):
1987-2002
About
Abstract
This video is to accompany the case ''802-084-1''. The abstract of the case is as follows: The Fitness Express (FE) case, Part 1 examines the start-up and early growth problems and opportunities of two youthful entrepreneurs, Dave Courteen and Steve Taylor. Via a carefully focussed market strategy (''over 40''s'') and a true customer service orientation, a chain of 14 health clubs was successfully developed over 12 years. The partners were then able to contemplate further rapid growth in a joint venture with a 36 strong hotel group, Swallow. Detailed negotiations were all but complete, when Swallow itself was absorbed by a larger hotel chain, which already had its own health club organisation. Further growth for FE therefore, was to be either by continued organic development, or by acquisition of smaller groups by FE, or outright sale of the company. Part 2 of the case details the outcome of these options, with FE subsequently negotiating a satisfactory sale of the company to a large fitness leisure group, (Crown) with a brief for the partners to grow the larger group by acquisitions and injection of the ''FE formula'' into existing Crown companies and new acquisitions. Will the entrepreneurs be able to respond to the challenge, in a new corporate environment?
Settings
Location:
Industry:
Size:
GBP2 million turnover
Other setting(s):
1987-2002