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SIC 7997 Amusement and Recreation Services - Membership sports and recreation clubs

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Workout Gym Business Plan

Mountain Brook Fitness Center

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Company Summary

The Mountain Brook Fitness Center is one of the only family-focused clubs in the Monroe area. The center has grown steadily over the past four years. Our clubhouse is 50,000 square feet and our new fitness center is 12,000 square feet. The Mountain Brook Fitness Center is located at 1234 Main Street in Monroe.

The focus of Mountain Brook Fitness Center is to keep the whole family involved in the club by exposing everyone to the variety of activities and services the club offers. In addition, there is a childcare center that will keep members' children happy and entertained while members take part in any of the center's activities and services.

2.1 Company Ownership

The Mountain Brook Fitness Center is owned by Robert Sinclair and Arnold Hess.

2.2 Company History

From its beginning in 1996, the Mountain Brook Fitness Center has had an exceptional swimming and tennis program. Two years ago, a loss in membership pointed toward the need for a fitness center to round out the club's offerings. The club spent approximately $140,000 to add a fitness center with cardiovascular and weight training equipment. The club has also become a 24-hours facility, seven days a week, with childcare.

Past Performance
1999 2000 2001
Sales $560,000 $644,000 $740,600
Gross Margin $80,000 $100,000 $130,000
Gross Margin % 14.29% 15.53% 17.55%
Operating Expenses $350,000 $410,000 $470,000
Collection Period (days) 0 0 0
Balance Sheet
1999 2000 2001
Current Assets
Cash $40,000 $50,000 $50,000
Accounts Receivable $0 $0 $0
Other Current Assets $20,000 $30,000 $50,000
Total Current Assets $60,000 $80,000 $100,000
Long-term Assets
Long-term Assets $200,000 $200,000 $200,000
Accumulated Depreciation $16,000 $32,000 $48,000
Total Long-term Assets $184,000 $168,000 $152,000
Total Assets $244,000 $248,000 $252,000
Current Liabilities
Accounts Payable $40,000 $60,000 $60,000
Current Borrowing $0 $0 $70,000
Other Current Liabilities (interest free) $0 $0 $0
Total Current Liabilities $40,000 $60,000 $130,000
Long-term Liabilities $50,000 $80,000 $100,000
Total Liabilities $90,000 $140,000 $230,000
Paid-in Capital $0 $0 $0
Retained Earnings $154,000 $108,000 $22,000
Earnings $0 $0 $0
Total Capital $154,000 $108,000 $22,000
Total Capital and Liabilities $244,000 $248,000 $252,000
Other Inputs
Payment Days 0 0 0
Sales on Credit $0 $0 $0
Receivables Turnover 0.00 0.00 0.00
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Past Performance
1999 2000 2001
Sales $560,000 $644,000 $740,600
Gross Margin $80,000 $100,000 $130,000
Gross Margin % 14.29% 15.53% 17.55%
Operating Expenses $350,000 $410,000 $470,000
Collection Period (days) 0 0 0
Balance Sheet
1999 2000 2001
Current Assets
Cash $40,000 $50,000 $50,000
Accounts Receivable $0 $0 $0
Other Current Assets $20,000 $30,000 $50,000
Total Current Assets $60,000 $80,000 $100,000
Long-term Assets
Long-term Assets $200,000 $200,000 $200,000
Accumulated Depreciation $16,000 $32,000 $48,000
Total Long-term Assets $184,000 $168,000 $152,000
Total Assets $244,000 $248,000 $252,000
Current Liabilities
Accounts Payable $40,000 $60,000 $60,000
Current Borrowing $0 $0 $70,000
Other Current Liabilities (interest free) $0 $0 $0
Total Current Liabilities $40,000 $60,000 $130,000
Long-term Liabilities $50,000 $80,000 $100,000
Total Liabilities $90,000 $140,000 $230,000
Paid-in Capital $0 $0 $0
Retained Earnings $154,000 $108,000 $22,000
Earnings $0 $0 $0
Total Capital $154,000 $108,000 $22,000
Total Capital and Liabilities $244,000 $248,000 $252,000
Other Inputs
Payment Days 0 0 0
Sales on Credit $0 $0 $0
Receivables Turnover 0.00 0.00 0.00