Workout Gym Business Plan
People in the area need a place where working out can be a family activity. Parents can bring children to be taken care of while they exercise.
Solution
Renovate and expand Mountain Brook Fitness Center’s childcare facility and purchase new equipment. The current facility can care for 30 children, including five infants. The new facility will accommodate up to 60 children, including 15 infants. Funding will be obtained through a short-term loan.
Market
Monroe is a fast-growing city, with a population increase of 15% annually for the past three years. The current population of Monroe is 600,000. The growth is driven by employment opportunities in high-tech companies, attracting the target customers to the Mountain Brook Fitness Center.
Competition
While there are other gyms in the area, our focus on families makes us unique. Families can engage in activities together or separately and then enjoy a meal afterward.
Why Us?
The Mountain Brook Fitness Center caters to business professionals and families. Half of our 900 members are under 45 years old and have young children. With a $800 yearly membership fee, the center aims to attract an additional 300 members with families within the next three years.
Expectations
Forecast
Our projections depend on key assumptions, particularly customer retention. However, we believe we can achieve profitability from year one by launching and reaching critical mass early on.
Financial Highlights by Year
Opportunity
Problem & Solution
Problem Worth Solving
People in the area need a place where working out can be a family activity. Parents can bring children to be taken care of while they exercise.
Our Solution
Mountain Brook Fitness Center offers affordable and secure childcare while parents work out. We have expanded the fitness center and added equipment to meet the demand. Our childcare service is essential for many existing and potential members, but our current space is insufficient. Expanding the childcare area will enable us to meet the growing demand.
Market Size & Segments
Market Analysis Summary
Monroe is a rapidly growing city with a population increase of 15% annually for the past three years. The current population of Monroe is 600,000. The growth is fueled by employment opportunities in high-tech companies, attracting professionals who are the targeted customers for Mountain Brook Fitness Center.
4.1 Market Segmentation
Mountain Brook Fitness Center primarily targets young urban professionals.
Competition
Current Alternatives
While there are other gyms in the area, our focus on families sets us apart. Families can engage in activities together or separately and then enjoy a meal afterward.
Our Advantages
We have a competitive edge in offering exceptional childcare services to our members.
Execution
Marketing & Sales
Our marketing plan includes signage, social media platforms (Facebook, Twitter, Instagram), and a website featuring trainer blogs/recommendations, class information, and well-placed radio spots to reach non-social media savvy potential clients.
We will promote our childcare service to prospective members, with a specific focus on young active families. We will hold open house events every Saturday morning for families to tour the childcare facility.
Operations
Locations & Facilities
Mountain Brook Fitness Center is one of the few family-focused clubs in the Monroe area. Our clubhouse spans 50,000 square feet, and the new fitness center occupies 12,000 square feet. Located at 1234 Main Street in Monroe, our facility offers various activities and services, including swimming, tennis, a fitness center with cardiovascular and weight training equipment, court sports, massage, physical therapy, and childcare. The club operates 24/7, seven days a week.
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