3. For those skills which you do not have, list how you could research and develop those skills.
4. Assume you hope to open a personal lifestyle business providing personal training and dietary advice. You have budgeted for costs totalling $9,000 comprising:
a. Energy bars $1,000.
b. Water $2,000.
c. Tracksuits and t-shirts $1,500.
d. Running shoes $1,000.
e. Weights $3,000.
f. Gym membership $500.
Your research has indicated that next year, the cost of food items is likely to increase by 2% and clothing and footwear will increase by 4%. The cost of fitness equipment will increase by 1.5% but, due to increased competition in the area, the cost to use a gym will decrease by 2%. In addition, the council is planning to introduce a yearly fee of $450 for personal trainers using council facilities such as parks.
How much is it likely to cost you to run the business next year?