Company History
The Gym is a start up company that was founded by Alana Blatz, Alec Dorfner, Matt Mehelic, and Adam Martinez in April 2015. With their love for working out, they figured that there would be no better small business to open than a gym. Those four however have big plans, The Gym is in fact not going to stay some small, local gym, but rather, it is going to expand nationally as a franchise. The first home location will open off the Bridgeville exit of Interstate 79 at the old star city location. This is a huge facility that will also for growth as the business gains more capital. The location is very convenient as it is right off of the exit.
Purpose of the Plan
The plan of this is to gain a further understanding of our company. It will allow us to understand the in-depth details of marketing, management, legal, and financial issues. We will also use this plan to demonstrate to potential investors as to why they should invest in The Gym by providing and executive summary, industry status, target market, marketing plan, productions and operations plan, insurance plan, management plan, and a financial plan along with attached exhibits. The Gym will become very successful, but that is only with the help of our investors.
Goals of the business
The Gym's goals are to allow their members to reach the highest level of fitness, while providing a safe and comfortable environment to live life to the fullest, healthiest potential. With that goal in mind, we are determined to create a top quality gym. We will have the highest degree of equipment. Our goal is within 3 years to expand our home location with a pool, racquetball court, basketball court, and a sauna with the use of our profits. We plan on mass promoting The Gym to our target market of 18 to 35 year olds. We will do gorilla marketing to promote the grand opening of The Gym through the use of social media and articles. Our twitter and Instagram is @TheGym. Our plan is to undercut our competitions price, LA Fitness, by $5 per member a month.
Description of products and services
Our service is providing gym equipment for members to use and work out with, the equipment is state of the art from Dick's Sporting Goods. This promotes a healthier style of life. If our members want to step up their health, we also have personal trainers. Personal trainers will work with a member one on one to help them learn how to work out. We will also have work out classes (full list of classes are featured under the marketing plan section). Our gyms equipment will be sanitized at least three times day to ensure safety for our members.
Customers
Our target age for the gym is ages 18 to 35, as anyone younger than 18 would have to 14 years or older and accompanied by an adult and then anyone older than 35 begin to lose their desire to work out. Therefore, ages 18 to 35 is our desired target age. We expect it to be around an equal ration men to woman, but with slightly more men (52 to 48 percent). For more information about our customers, please visit our section: Target Market and Customer Base.
Management team experience
All managers have customer service and communication skills, be a good problem-solver, able to motivate employees, and be determined to grow the business. Someone with at least an associate’s degree in management is desired, preferably sports management. Managers also must be certified in CPR and emergency situations ($45k per year salary with potential for bonuses depending on success).
Amount required from lenders
After in-depth research, $547,138.00 will be needed from lenders to help grow and start our company.
Other sources of collateral
The four owners are willing to risk their own collateral, houses, cars, etc., because they believe that they will truly be very successful along with using our own saving accounts to fund the business. We are also planning on creating a KickStart account to help fund as well.