Hope Pitts, Mackenzie Cantrall, Kelsey Finley
Six Business Activities
Generating Ideas: Impossible Gym is a gym for all to use. This gym is equipped with equipment for weight lifting, cardio, aerobics, yoga, and others. There is a wide variety of workouts one could do in our gym. The gym however is not only useful for adults, there’s an area for kids too. Kids can lift child safe weights, and participate in a fun workout with friends. Our gym evolved over a series of time. We always wanted to improve our community in some way. Once the rates of obesity in families spiked, our vision was clear. We took this vision and put it into action, creating a family involved workout area. Unlike other gyms in town we made sure our programs were something the whole family could participate in. Building a healthier base for our community one family at a time.
Raising Capital: Our total cost for the gym was 250,000 dollars. To earn this money we will advertise for other businesses in our gym in return for their donations. This is predicted to bring us in about 50,000 dollars. We plan to earn the rest of the money through donations from hospitals, health centers, specialty food markets, and other large corporations. We will pursue other businesses who promote healthy lifestyles.
Employee & Training: Our employees have to have a background and degree in physical fitness. They will also be expected to be physically fit themselves. We will begin our search for employees meeting the requirements. To get the word out that we are hiring we will put up flyers and interview those who show interest. We also are hiring people to clean the bathrooms, equipment, and the gym as a whole. These workers will need no physical education, but shall be hard workers also. We will have a “boot camp” for those who want to be trainers. There will also be a “boot camp” for people within the gym to get in better shape, and whoever loses the most weight will win money. This friendly competition is hoped to motivate not only members but all involved in Overload Gym
Buying Goods & Services: We will get our equipment from fitness for all http://www.fitnessforallinc.com. Here they sell home and commercial equipment for gyms. At our gym we will also have pamphlets about a healthier you from different companies about encouraging people live a healthier life.
Marketing goods/services: The way we are going to market our business is to have it on the internet and the radio. We will create a website for the gym, telling readers on why we opened it, finding the right class just for you, why to choose our gym, and to why to workout there.We will also use Facebook and Twitter. When we air it on the radio,it will cost between $850-900. We will just give a brief statement on where we’re located,our hours, what we do, and why you should go there.
Maintaining business records : To maintain our business records, we will use a program called Quickbooks, Turbotax, and a microsoft spreadsheet to keep track of our customers. Turbotax will be used to keep track of how much our employees pay in taxes. The spreadsheet will be used to keep track of orders and our customer information. The quickbook will keep track on how much we buy in exercise equipment,etc.
Our Mission Statement
For our company we will be in a corporation. We chose this because they can't take our own money only the money we invest and when people invest in our business they can't be in the decision making they only give us money.Some advantages are . Liability of any owner is limited to the amount of money invested, can invest and receive profit without having to take part in day-to-day operations, business can easily be expanded and ownership can be changed by the sale of stock. Some disadvantages are that decisions are shared among managers, board of directors and shareholders. more records are required, more laws to follow, pay corporate taxes on profits earned and investors also pay taxes on their individual earnings from the business.
Business Goals :
Create a healthier community.
Make a better future for the younger generation.
Get at least 20 members in the first month.
Get 100 members in 6 months.
Make $500 in the first few months of opening.
At least have 25 employees in 3 months.
Don’t have a debt by the end of the year.
By the end of the year, have 100 employees and over 100 members.