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Corporate Fitness
Company Summary
Corporate Fitness is based on the belief that healthy employees are more productive and efficient employees. For this reason, it provides wellness strategies/programs to businesses in the downtown Seattle area. This combines promotion of health and exercise-related activities designed to facilitate positive lifestyle changes in members of a company’s work force.
The company began in Seattle, founded by three owners, all of whom hold director positions.
2.1 Company Ownership
Corporate Fitness is a privately held corporation. The three founders comprise all of the ownership.
- Dave Jensen – 40 percent.
- Steve Perkins – 30 percent.
- Robert Gomez – 30 percent.
2.2 Start-up Summary
Start-up will require approximately $300,000 of capital, $200,000 of which will be provided by the founders and their families. The remaining $100,000 will come as a loan.
Approximately $140,000 will be allocated to leasehold improvements and $75,000 to equipment.
| Start-up Funding | |
| Start-up Expenses to Fund | $290,000 |
| Start-up Assets to Fund | $10,000 |
| Total Funding Required | $300,000 |
| Assets | |
| Non-cash Assets from Start-up | $0 |
| Cash Requirements from Start-up | $10,000 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $10,000 |
| Total Assets | $10,000 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | $0 |
| Long-term Liabilities | $100,000 |
| Accounts Payable (Outstanding Bills) | $0 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $100,000 |
| Capital | |
| Planned Investment | |
| Investor 1 | $80,000 |
| Investor 2 | $60,000 |
| Investor 3 | $60,000 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $200,000 |
| Loss at Start-up (Start-up Expenses) | ($290,000) |
| Total Capital | ($90,000) |
| Total Capital and Liabilities | $10,000 |
| Total Funding | $300,000 |
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $1,250 |
| Stationery etc. | $1,000 |
| Brochures | $800 |
| Insurance | $5,000 |
| Rent | $58,000 |
| Expensed Equipment | $75,000 |
| Utilities | $6,500 |
| Leasehold improvements | $140,000 |
| Other | $2,450 |
| Total Start-up Expenses | $290,000 |
| Start-up Assets | |
| Cash Required | $10,000 |
| Other Current Assets | $0 |
| Long-term Assets | $0 |
| Total Assets | $10,000 |
| Total Requirements | $300,000 |
2.3 Company Locations and Facilities
Corporate Fitness headquarters are located within the first club located in downtown Seattle. Upon expansion, offices will be moved to a different location, not within any individual club.