The Athlete's Foot store in Pine Ridge Square will become the athletic footwear headquarters for the City of Coral Springs, Florida.
There are 29,000 school-aged children, of which over 11,000 participate in the city's 16 structured athletic programs. There are 27 schools, with varying degrees of athletic programs, within three miles of the proposed location.
There are 57,000 adults between the ages of 20 and 54 within three miles of the center. That is the prime age of Florida's running community. In January's Walt Disney Marathon & 1/2 Marathon in Orlando, there were approximately 250 participants from Coral Springs, Coconut Creek, and Parkland. That is just an example of the abundance of dedicated runners in the community. There are no stores in Coral Springs which offer a collection of "serious" running shoes, or offer the novice or "less serious" runner a quality selection and education on the proper style, fit, and sizing for their needs.
The Athlete's Foot will focus on the above two market segments. By capturing those primary customers, the balance of residents with sports shoe needs will be drawn to us, the obvious headquarters for athletic footwear.
The store will be located at the intersection of University Drive and Wiles Road. The key co-tenants are: Fresh Market, Bed Bath & Beyond, Blockbuster Video, Play It Again Sports (they do not sell athletic shoes), a 10,000 sq. ft. daycare center, a children's and young men's specialty clothing store, a learning center, four restaurants, and several other youth-oriented businesses. At the same intersection are: Kmart, Steinmart, Winn Dixie, McDonald's, Wendy's, three banks, six additional restaurants, and three gas stations. In total, there is approximately 400,000 sq ft of retail space at this intersection. University Drive is being extended north through Boca Raton. Wiles Road is being extended east, through Coconut Creek. There are approximately 55,000 cars per day traveling through the intersection.
There is minimal competition within Coral Springs. There are several "Mall" stores, which cater to a fashion athletic footwear customer. They offer limited service and virtually no technical knowledge or expertise for running shoes. As well, they make minimal effort at capturing the "sports specific" footwear, such as soccer, baseball, or football cleats, or related accessories.
The Athlete's Foot will be a franchise of The Athlete's Foot, Inc., recognized as the world's leader in athletic footwear franchising. The Athlete's Foot has over 700 company owned and franchised stores in 33 countries. By becoming an Athlete's Foot franchise, we benefit from a comprehensive support program that includes:
- Access to special vendor discounts including; Nike, Reebok, Fila, New Balance, Adidas, Converse, Brooks, etc.
- Advice and assistance in real estate selection and negotiation
- Proven store design, fixturing, and layout
- Planned merchandising system, assortment direction, and coordinated inventory control
- Comprehensive training in all facets of the athletic footwear business through required seminars and workshops
- Ongoing support through video, monthly publications, regional meetings, and co-franchise networking
- National Advertising Program and assistance with the local advertising campaign
- The most sophisticated "Fit Technician" and Research and Development programs in the industry.
1.1 Objectives
The primary objectives of the business plan for The Athlete's Foot are outlined below.
- To make The Athlete's Foot the headquarters for athletic footwear by offering knowledgeable and professional customer service. Customer service will be measured through repeat business (our goal is that 50% of our customers will return within 6 months for an additional purchase) and multiple sales (our goal is that 30% of our non-running and 60% of our running shoe sales are accompanied by an additional purchase).
- To be an active participant and supporter of the Coral Springs Athletic Community and to develop a youth and adult running club to promote a healthy lifestyle through exercise. Our goal is to have 150 running club members by the end of the 18th month of club operation.
- To achieve a 33% increase in sales year two and maintain a minimum annual increase of 15% thereafter.
1.2 Mission
The Athlete's Foot is a retail store specializing in the sale of true athletic footwear for the entire family. The store will emphasis the sale of children's athletic shoes and a full assortment of men's, women's, and children's running shoes and accessories. We will provide consumers with technical knowledge on the proper fit and style of athletic footwear for their various needs. We will be the only full-service athletic footwear store with quality, knowledgeable sales help in this city of 100,000 people.
Our goal is to be the headquarters for the Coral Springs athlete. Coral Springs has one of the largest and most sophisticated community athletic programs in the United States. There are approximately 29,000 school-aged children within three miles of the planned store location.
We believe that to attain our headquarters position, we will need to become a visible member of the athletic community through sponsorship, seminars, team and league promotions and the development of a community running program.
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