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Ladies Only Fitness

Executive Summary

Opportunity

Problem

There should be a place where women can work out without worrying about behavior of men. Women know why. 

Solution

Ladies Only Fitness’ focus is the urban professional woman who has a very active life and very little time to spend on fitness.  We also focus on young mothers who are looking for a fitness environment that is focused on their unique needs.

Market

Mapleton is a city on the move. The population has grown by 10% each year for the past three years. The current population of Mapleton is 600,000.

Most importantly, the growth has been fueled by the increased employment in the city’s high-tech companies.  This has attracted a type of professional that is the target customer for the Ladies Only Fitness.  The women we are targeting are looking for a different type of fitness club experience. At Ladies Only Fitness, they will be the total focus of our staff.

Another target group is young mothers who are looking for a club that will fit their needs and keep their children close.  Ladies Only Fitness has designed the facility so that the child care center can be seen by anyone working in the main exercise room.  We believe that changes like that will be seen as welcome extras that will bring new members.

Competition

The key differentiator for us is the women-only plus childcare facilities on site. We compete against several gyms in the area, including franchises of 24-hour-fitness and the local downtown gym. 

Why Us?

The competitive advantage of Ladies Only Fitness is the environment that is created in the facility.  Women feel more relaxed and comfortable in a program that is focused solely on them.  In addition, we have designed the childcare center to be visible from the main workout floor.  A young mother can watch her child play in the center while working out.

Expectations

Forecast

As the highlights chart below shows, we believe we can launch successfully and pass the $1 million annual sales milestone by our third year. 

Financial Highlights by Year

Chart visualizing the data for Financial Highlights by Year

Financing Needed

Estimated Startup Expenses: $95,000

  • Legal $1,500
  • Website $1,000
  • Insurance $500
  • Rent $2,000
  • Child Care Setup $10,000
  • Leased Equipment $80,000

Assets: $65,000 in startup cash

Total financing: $160,000.

Funding plan: $100,000 in owner funding and a $60,000 business loan. 

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Opportunity

Problem & Solution

Problem Worth Solving

Many women want a gym for women only. And young mothers need that plus childcare. 

Our Solution

Ladies Only Fitness is a women-only health club that creates a personalized environment for women to pursue their fitness goals.  We have the best equipment and the best training program in this arena. We prepare our clients for success!  We have the best weight-management program.  Positive Lifestyle Systems is a truly responsible, effective, weight-management program. We offer this program with confidence. It is unbeatable.

Target Market

Market Size & Segments

Ladies Only Fitness will focus on two customer groups:

  • Young urban professional women
  • Young mothers with children (ages new born to three years of age).

Another target group is young mothers who are looking for a club that will fit their needs and keep their children close.  Ladies Only Fitness has designed the facility so that the child care center can be seen by anyone working in the main exercise room.  We believe that changes like that will be seen as welcome extras that will bring new members.


     

Competition

Current Alternatives

We have our gym offerings around town: Snap Fitness, 24-hour-Fitness, Crossfit, and so on. Memberships and features run in standard ranges. 

Our Advantages

The competitive advantage of Ladies Only Fitness is the environment that is created in the facility.  Women feel more relaxed and comfortable in a program that is focused solely on them.  In addition, we have designed the childcare center to be visible from the main workout floor.  A young mother can watch her child play in the center while working out.

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Execution

Marketing & Sales

Marketing Plan

Mapleton is a city on the move. The population has grown by 10% each year for the past three years. The current population of Mapleton is 600,000.

Most importantly, the growth has been fueled by the increased employment in the city’s high-tech companies.  This has attracted a type of professional that is the target customer for the Ladies Only Fitness.  The women we are targeting are looking for a different type of fitness club experience. At Ladies Only Fitness, they will be the total focus of our staff.

Another target group is young mothers who are looking for a club that will fit their needs and keep their children close.  Ladies Only Fitness has designed the facility so that the child care center can be seen by anyone working in the main exercise room.  We believe that changes like that will be seen as welcome extras that will bring new members.

Market Segmentation

Ladies Only Fitness will focus on two customer groups:

  • 12,000 Young urban professional women;
  • 5,000 Young mothers with children (ages new born to three years of age).

Sales Plan

Ladies Only Fitness anticipates that sales will be slow for the first and second month of operation, due to our "first month free" promotion. After that point, sales will increase as new members pay for their membership fees.

Operations

Locations & Facilities

Ladies Only Fitness is located in the Southtowne Center in southwest Mapleton.  The club occupies a 5,500 square foot storefront.  The facility has one primary equipment room adjacent to the child care center.  The club also has three exercise rooms.  The facility can accommodate 110 people.

Milestones & Metrics

Milestones Table

Milestone Due Date
Initial launch
Jan 04, 2020
Spring promotion
Mar 06, 2020
Plan vs. actual review
Apr 19, 2020
Summer promotion
June 05, 2020

Key Metrics

  • Paying members
  • Free trial members
  • Conversion from free trial to paying %
  • Facebook likes
  • Visits per month per member
  • Visits per month per free trial members
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Company

Overview

Ownership & Structure

LLC 

Ladies Only Fitness is co-owned by Joan Sullivan and Marge Williamson. 

The start-up expenses for the Ladies Only Fitness is focused primarily on equipment and exercise surfaces for the classes.  Joan Sullivan will invest $30,000.  Marge Williamson will invest $70,000.  In addition, club will secure a $60,000 long-term loan.

Team

Management Team

Joan Sullivan will be the operations manager and lead trainer for Ladies Only Fitness. Joan has been a fixture in the Mapleton fitness community for the past fifteen years.  She has been the manager of both the Mapleton Athletic Club (three years) and the Maximum Fitness Club (four years). 

Her reputation as an effective staff supervisor is excellent. At both the Athletic Club and Maximum, membership increased by 15% each year under Joan’s supervision.

Marge Williamson is a CPA with the firm  of Smith, Jones, and Lawrence.  Her primary responsibility will be to oversee accounts receivable and operational costs.

Personnel Table

2020 2021 2022
Lead Trainer $48,000 $48,960 $49,939
Childcare Staff (2.67) $72,000 $110,160 $112,362
Personal Trainers (3) $76,800 $117,504 $159,804
Receptionist $33,600 $34,272 $34,957
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Financial Plan

Forecast

Key Assumptions

We’re assuming the need will generate most of the sales and marketing power. And of course we are assuming nobody decides to compete directly against us in the local market. 

Revenue by Month

Chart visualizing the data for Revenue by Month

Expenses by Month

Chart visualizing the data for Expenses by Month

Net Profit (or Loss) by Year

Chart visualizing the data for Net Profit (or Loss) by Year

Financing

Use of Funds

Estimated Startup Expenses: $95,000

  • Legal $1,500
  • Website $1,000
  • Insurance $500
  • Rent $2,000
  • Child Care Setup $10,000
  • Leased Equipment $80,000

Assets: $65,000 in startup cash

Sources of Funds

Total financing: $160,000.

Funding plan: $100,000 in owner funding and a $60,000 business loan. 

Statements

Projected Profit & Loss

2020 2021 2022
Gross Margin $431,112 $566,720 $700,120
Operating Expenses
Salaries & Wages $230,400 $310,896 $357,062
Employee Related Expenses $46,080 $62,179 $71,413
Marketing $6,000 $6,000 $6,000
Insurance $2,760 $2,760 $2,760
Utilities $4,800 $4,800 $4,800
Rent $31,200 $31,200 $31,200
Leased equipment $18,000 $18,000 $18,000
Interest Incurred $2,754 $2,200 $1,618
Depreciation and Amortization
Gain or Loss from Sale of Assets
Income Taxes $0 $0 $0
Total Expenses $379,482 $487,315 $553,732
Net Profit $89,118 $128,685 $207,268

Projected Balance Sheet

Starting Balances 2020 2021 2022
Cash $65,000 $143,288 $260,589 $455,890
Accounts Receivable $0 $0 $0
Inventory
Other Current Assets
Total Current Assets $65,000 $143,288 $260,589 $455,890
Long-Term Assets
Accumulated Depreciation
Total Long-Term Assets
Accounts Payable $0 $0 $0
Income Taxes Payable $0 $0 $0
Sales Taxes Payable $0 $0 $0
Short-Term Debt $10,830 $11,384 $11,966 $12,579
Prepaid Revenue
Total Current Liabilities $10,830 $11,384 $11,966 $12,579
Long-Term Debt $49,170 $37,786 $25,820 $13,241
Long-Term Liabilities $49,170 $37,786 $25,820 $13,241
Paid-In Capital $100,000 $100,000 $100,000 $100,000
Retained Earnings ($95,000) ($95,000) ($5,882) $122,803
Earnings $89,118 $128,685 $207,268

Projected Cash Flow Statement

2020 2021 2022
Net Cash Flow from Operations
Net Profit $89,118 $128,685 $207,268
Depreciation & Amortization
Change in Accounts Receivable $0 $0 $0
Change in Inventory
Change in Accounts Payable $0 $0 $0
Change in Income Tax Payable $0 $0 $0
Change in Sales Tax Payable $0 $0 $0
Change in Prepaid Revenue
Investing & Financing
Assets Purchased or Sold
Investments Received
Dividends & Distributions
Change in Short-Term Debt $554 $582 $612
Change in Long-Term Debt ($11,384) ($11,966) ($12,579)
Cash at Beginning of Period $65,000 $143,288 $260,589
Net Change in Cash $78,288 $117,301 $195,302
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