Our studio will serve as an outlet for local Personal Trainers to thrive in their area of expertise; allowing them to serve their clients without the financial constraints of a working for a gym and the stress of opening a business. We will also offer our community affordable Group Fitness classes.
To empower individuals with the knowledge and tools needed to reach their fitness goals in order to combat the epidemic of obesity in our community.
To create a personalized environment where the personal trainers are encouraged to reach their income potential and to provide their clients with a private, personal, setting and offering members of the community affordable group fitness classes and increasing their support system throughout their fitness journey.
Custom Fitness LLC (Custom Fitness) is organized as a partnership among the two partners, Cosette Clendenen and Jason Clendenen. As a Personal Trainer working for a gym, Cosette found it frustrating that she was receiving less than half of what the client was paying for the sessions they had purchased through the gym. Cosette began to work with her husband, and partner in Custom Fitness, to explore options of becoming an independent Personal Trainer. After many discussions between the owners of Custom Fitness about the options involved, they reached the conclusion that to open a studio and rent out space to local trainers, resolving not only the income needs of the owners after Jason retired his green beret, but also giving fellow personal trainers a chance to branch out on their own and increase their income potential.
Both owners of Custom Fitness are combat veterans and are familiar with, and comfortable with, working under pressure. Strength of our company is that none of the financing will come from loans allowing for added financial security of our business. The owners are committed to the success of the company and are willing to put in the man hours in order to see the company thrives.
The owners have selected a 6,000 square foot facility in Johnston, Iowa with a capacity of 15 personal trainers and their cliental and a group fitness area that will allow for 20 to 25 group fitness clients and trainers. This will be a personalized fitness solution to community members of all ages in Johnston and surrounding areas. There will be 24 hour access for Personal Trainers and their clients; they will have the ability to let their trainees in order to fit their personal training session into their personal schedules. Custom Fitness will market to both personal trainers looking to increase their income potential and members of the community, of all ages, who want to improve or maintain their current health and fitness. Custom fitness does not have an existing customer base; however the owners are committed to putting time and money into advertising to attract clients, accompanying advertising with networking in the community in order to create a recognized brand name and loyal following.
With the fitness studio the owners hope to allow local personal trainers the opportunity to increase their annual wages without the cost and stress of opening their own business. Each trainer will have their own Personal Training Station, access to all of the equipment they needed to train their clients, as well as a computer system that would allow them to schedule and take payments, giving them all of the tools they would need to be as successful as they would be at a gym, while allowing them to keep their well-earned money. .
Phase one of the remodeling plan for the chosen location will be completed by March 1, 2015. Funding need to be in place by March 1, in order to begin remodeling, with additional funding needing to be available by June 1, 2015 for rent and equipment. Remodeling and renovations would begin on April 1, 2015 and completed by July 1, 2015 allowing Custom Fitness to be open for business on July 1, 2015.
Custom Fitness is an up and coming company with a new brand name and starting from scratch. The owners will have to work hard and create a successful marketing campaign in order to create a brand name, find personal trainers to rent space in the studio, as well as fill the group fitness classes.
An opportunity for Custom Fitness is the toddler and senior citizen client base; we will offer both toddler/child yoga classes and Silver Sneakers classes in order to fill the demand in these market groups that is currently untouched. The changes in population along with targeting an untargeted market and the affordable pricing, undercutting the competition, put Custom Fitness at a competitive advantage in the market place.
Custom Fitness is at risk from other well-known companies taking their prices down in order to be more competitive or new competitors moving into the area. Custom Fitness will respond to the threat by offering a great customer experience and customized fitness plans in order to build customer base and retain loyal customers.
Reason for Entering:
We would use the money as startup costs; marketing and advertising, building renovations and equipment will be needed prior to opening day.
Custom Fitness requires $55,000 to cover the renovation cost at the selected location. $13,500 is required for equipment prior to opening doors and the addition purchase of equipment at $12,500. Approximately $12,000 will be due upon signing the lease to cover both first and last month’s rent.
The owners will contribute 100% to these costs using current available funds. Part of our business model is to remain debt free; winning the Dream Big, Grow Here contest would greatly impact our ability to do this.
The owners have broken the renovations and other costs into 3 phases in order to make the costs realistic without the need for loans.
The first phase includes the renovation of the top floor of the rental space, the first and last month’s rents due and the immediate needs of equipment for the 15 Personal Trainer Stations; estimated to cost $15,000 for renovations, $12,000 for rent and $13,500 for the equipment. This would allow for the personal trainers to move in immediately. Break down of the equipment for Personal Trainers:
15 Personal Training Stations Totaling $6,750
Community Equipment Totaling $7,000
The second phase will cost approximately $20,000 this phase will include the build out of the restrooms and showers in the basement of the building. The third and final phase will cost approximately $25,000. This final phase will complete the renovations of the basement. This includes the removal of 4 beams at $4,000 each and the flooring costs. Additionally, the owner's will buy any equipment needed for the group fitness classes; the estimate for this cost is $7,500.
The receipt of the business grant would move up the timeline by 1-6 months allowing Custom Fitness to start serving more community members more quickly in order to combat obesity in Des Moines and surrounding areas.