Society Fitness LLC | Application Preview
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General Information
Business Registration Number: L22000103374
Location: Tallahassee, FL, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: NO
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Funding Usage
To help pay off the cost to open Society Fitness
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Business Plan
5 Year Plan • 150 clients • 70% of revenue from group fitness classes. • 20% from secondary revenue streams (personal training/ small group training). • 10% from tertiary revenue streams (pop up events around town). Clients: More clients isn't always better but keeping clients longer is the goal. I have a goal of 150 clients due to expenses can increase as more clients come in which can generate less profit with more members. However, increasing retention and charging existing clients more will increase profits. The target retention is at least 14 months. Knowing my Value: Know what the average person is paying, and find out what I can sell to ge the most out of each client. I will need to diversify revenue streams and look into raising rates if needed. The goal is to target retention of at least 14 months. Will do this by adding an on ramp program and mapping each clients journey. Making connections with each client and getting to know them on a personal level. Streamlined Operations: The goal is to get fixed costs to about 20 percent of gross revenue. Create time to grow business: offload the low value roles and use that time to grow my business. My landlords are taking on these low value roles by changing the toilet paper and cleaning the studio so I do not have to. Marketing Strategies: Social media, targeted advertising through social media, word of mouth, face to face, pop up events around town, email and text campaigns, recruitment events such as $5 friends in Feb. Leaderboards – discount on next month if a certain number of classes are completed. Run Challenges – offer discounts for people who complete challenges. Partner with non-competing local gyms with the same ideal market. A website that will create organic web traffic. Stay consistent – run referral offers once a month. Logan and Alex Redding are both locals to Tallahassee. They have a two year old daughter and one more on the way. Their vision is to bring the first beat based strength and sculpt style fitness classes to Tallahassee. Logan has a fitness background of 5+ years working as an aerobic instructor at Premier Health & Fitness. Logan also works as a Data Team Specialist manager with Teralytics, Inc. Alex Redding has worked for the State of Florida for almost 10 years and is currently working in the department of Agriculture in the marketing division. Our vision is to bring the Tallahassee and surrounding areas together to support local companies. Working out is a major key to keeping a healthy lifestyle and our goal is to make working out enjoyable by providing a fun and inclusive atmosphere while partnering with like-minded businesses and individuals within the community to create events that give back.
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Self Identified Competition
Premier Health and Fitness Pure Barre Ondemand Classes We are a locally owned business not connected to any franchise rules or regulations. We are able to pivot when needed and move with the community. As things change in the fitness industry we are able to change as well without needing approval. As fitness trends come and go, we are able to udpate our class programs as with these changes. For example, pilates is hitting the fitness industry hard right now, we are able to add pilates style classes to the schedule to provide what the community wants. Our classes are taught to the beat of music with curated playlist that are created for each class. There are no other classes like this in Tallahassee. With this being said, we must be intentional with each class and nothing these programs can not be thrown together last minute.
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