Photo AI
Assess the importance of two entrepreneurial roles carried out by Peter Roberts to the success of Pure Gym. - Edexcel - A-Level Business - Question 2 - 2017 - Paper 3
Question 2
Assess the importance of two entrepreneurial roles carried out by Peter Roberts to the success of Pure Gym.
Worked Solution & Example Answer:Assess the importance of two entrepreneurial roles carried out by Peter Roberts to the success of Pure Gym. - Edexcel - A-Level Business - Question 2 - 2017 - Paper 3
Step 1
Role of creating and setting up a business
Answer
One of the key entrepreneurial roles Peter Roberts executed was creating and setting up Pure Gym. This entailed identifying a gap in the market for low-cost gyms in the UK, which he spotted by recognizing trends from America and Scandinavia. This innovative approach not only provided affordable fitness options but also catered to a growing demand for such services in the UK, marking the beginning of Pure Gym's expansion. Roberts' background as a chartered surveyor also equipped him with valuable skills in assessing business viability, which played a crucial role in making Pure Gym a reality.
Step 2
Role of running and expanding the business
Answer
Another significant role was the ongoing management and expansion of Pure Gym. Roberts demonstrated effective leadership as he navigated the challenges of the fitness industry, from maintaining cost efficiency to researching market competition. By focusing on building a business model with no annual contracts, he ensured customer loyalty and satisfaction, which are vital for the retention of members. Furthermore, his decision to expand operations overseas highlighted his commitment to driving growth and adapting the business strategy based on market dynamics, which underpins the overall success of Pure Gym.