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Senior Design Business Plan Competition

Senior Design Business Plan Competition . FIT Systems, Inc. Producers of the Fitness Identification Tracking (FIT) System. OWNERS Scott Bugenhagen Pamela Duda Nicole Gregor Daniel Shefchik. FIT Systems, Inc. Mission Statement.

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Senior Design Business Plan Competition

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  1. Senior Design Business Plan Competition FIT Systems, Inc. Producers of the Fitness Identification Tracking (FIT) System OWNERS Scott Bugenhagen Pamela Duda Nicole Gregor Daniel Shefchik

  2. FIT Systems, Inc. Mission Statement FIT Systems, Inc. will provide state of the art, easy to use and confidential systems which runners can use to track their workout trends and progress in fitness facilities equipped with running tracks and the FIT System. The system will be constantly upgraded with the formation of new personalized packages for each consumer group. FIT Systems, Inc. is dedicated to continuing to provide the most up to date and accurate fitness tracking system possible for each and every user through constant research and development and strong ties to our consumer base.

  3. Project Overview • Develop a system that will count and record: • Lap Number • Lap Time • Total Workout Time • Heart Rate • Energy Expenditure • Distance • Speed • Generate a workout report

  4. FIT System Components and Connections

  5. Software and Database

  6. Start-Up Screen

  7. Main Screen

  8. Begin Workout Screen

  9. Stop Workout Screen

  10. Generate Report Screen

  11. Sample Workout Report Tables

  12. Sample Workout Report Graphs

  13. FIT System Market Analysis

  14. Potential Market Places • Private and public heath clubs • 2,400 YMCA’s • 40 million members • Elementary and Middle Schools • High Schools • Colleges

  15. Market Competition • Patent # 6,823,036 • Wrist watched-typed pedometer with wireless heart rate monitor • Patent # 6,418,394 • Measuring device and method of controlling • Patent # 6,345,197 • Age based heart rate target zone method and apparatus • Patent # 6,334,848 • Remote Pedometer • Other products use GPS technology to monitor distance and speed

  16. SurveySpring 2005

  17. Spring 2005 Survey Objectives • Investigate interest in the FIT System for the Kern Center • Determine interest for different features under consideration • Solicit input as to possible additional features to improve the product

  18. Survey Results • Question one • A)Would you be interested in using an exercise tracking system in the Kern Center? • B) If yes, how often would you use the system per week?

  19. Survey Results • Question 1 continued • C) How often do you work out per week at the Kern Center? • Question 2 • What features would you be interested in having in this system?

  20. Survey Results • Question 3 • Please write any other features that you would be interested in: • Weightlifting features • Step counter • MP3 player

  21. Survey Analysis / Conclusions • Most Requested Features • Distance meter (86.67%), • Heart rate monitor (73.33%) • clock (70.00%) • Least Favored Feature • Audible heart rate zone alert (20.00%) • The survey results were used to complete the process of quality function deployment (QFD), and to create a house of quality.

  22. House of Quality KEY O Strong Relationship + Weaker Relationship X Adverse Relationship The line labeled “Priority Importance” determines the importance of each method by adding designated values of the symbols, with (o = 3), (+ = 1), and (x = -1).

  23. FIT System Pricing Structure

  24. FIT System Budget

  25. FIT System Packages -1-

  26. FIT System Packages -2-

  27. FIT System Packages -3-

  28. FIT System Startup Expenses

  29. Acknowledgements The FIT System design team would like to thank Larry Fennigkoh, Ph.D., P.E. Associate Professor, Biomedical Engineering (our Chief Engineer) for his constant support and advice. We would also like to thank the supporters of the Keen Grant for funding our entire project and all of the MSOE Biomedical Engineering Faculty and Staff for their advice and guidance.

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