Igneous Rock Gym
Company Summary
Igneous Rock Gym is an indoor climbing gym located in Igneous, Oregon. As the only gym of its kind in the greater Igneous metropolitan area, Igneous Rock Gym will offer bouldering, top-rope, and lead climbing. In addition, Igneous Rock Gym will have trained staff to provide instruction to climbers of every ability level. A major feature of Igneous Rock Gym will be its ability to draw in different groups by providing a unique environment in which to have a party, meeting, or team-building exercise.
2.1 Company Ownership
Igneous Rock Gym is a privately held Limited Liability Corporation. Cole Granite and Micah Quartz share equal ownership in this corporation. Cole Granite has over ten years of experience in the climbing gym industry. Micah Quartz has experience and connections in the fields of design and construction.
2.2 Start-up Summary
Start-up expenses for Igneous Rock Gym will be $25,000 (see table for details). The largest expense will be from rent during the three-month construction period.
The climbing gym’s long-term assets will be the key to future business success. Total long-term assets equal $90,000 and include the climbing walls, climbing holds, safety equipment, and floor coverings. Current assets of $2,000 will consist of furniture.
Initial cash on hand will be $23,000. This figure reflects what is needed to run the business for a minimum of two months with no income.
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $3,000 |
| Stationery etc. | $500 |
| Insurance | $3,300 |
| Rent | $13,200 |
| Computer | $1,000 |
| Construction Equipment Rental | $3,000 |
| Other | $1,000 |
| Total Start-up Expenses | $25,000 |
| Start-up Assets | |
| Cash Required | $23,000 |
| Other Current Assets | $2,000 |
| Long-term Assets | $90,000 |
| Total Assets | $115,000 |
| Total Requirements | $140,000 |
2.3 Company Locations and Facilities
Igneous Rock Gym is housed in a 5,500 sq. ft. warehouse with 35′ high ceilings. The building is broken down into three zones: 600 sq. ft. of locker rooms, 500 sq. ft. of front desk/common area, and the remaining 4,400 sq. ft. is dedicated as the climbing zone. The climbing zone will include two platforms, at 400 sq. ft. each. One will be used for fitness equipment and the second used for group meeting areas. The building has twenty available parking spaces with additional free parking on the street.
This site was chosen due to its location near the University, city center, and easy access from the growing residential area. In addition, the warehouse has an open floor plan with no need for demolition. Other nearby tenants are long-term leaseholders, and their operations will provide added exposure to Igneous Rock Gym.
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