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FittersUnite Business Plan
Transcript of FittersUnite Business Plan
Everyone has a turning point(s) in their lives at one point or another that leads them to change their lives for the better. Sometimes its landing that dream job, and sometimes its having your first child and starting the family you always dreamed of. For me and 400,000 others around the world at nearly 6000 affiliates growing at a rate of 43% annually, it is Cross-fit that has changed our lives. It is just not a weekend hobby but a lifestyle. However, talk around the water-cooler at our "box" (slang for the word gym in the Cross-fit realm) has fueled a topic that many want to see resolved. Unlike a conventional gym, there are no sister "boxes" to workout at if a member is out of town on business or on vacation with the family. If you ask any cross-fitter, not being able to participate in our "WOD" (workout of the day) is a close second to death itself. After many sleepless nights dwelling on a lost workout while away from home, I have come up with a venture that would allow our tight knit community of 400,000 worldwide members to be able to still participate and continue to improve ourselves even though were not at our home "box." It is this gap in the industry that has allowed me to devise the website and accompanying Apple/Android app, FittersUnited. FittersUnited is the industries first website and web-based application that locates independent cross-fitters with residential cross-fit gyms across the world allowing people to continue their ultimate goal of maximum health and wellness while away from home. Lets say Sharon is a member at my box, Aero Crossfit in Mahwah, NJ. Sharon is going to Los Angeles on business. Usually Sharon would be disappointed because she knows Aero Crossfit doesn't have a location anywhere else and will have to skip a weeks worth of workouts. Now, Sharon can get to her hotel, open up FittersUnited on her smartphone, tablet, or laptop than geographically locate residential home gyms certified by Cross-fit HQ around her immediate location and set up an appointment with the owner to seamlessly continue her routine later that day. This is how FittersUnited will bridge the gap that has been a major inconvenience for so many since cross-fits inception in 2008.
Our passion is giving individuals the resources and capability to enhance their lives and the will to accomplish their goals through health and wellness.
FittersUnited will serve the Cross-fit community exclusively providing geographic locating services using Google Maps via internet throughout the globe yielding locations where patrons may sign up and participate in daily workouts outside their home box.
The website and app will also include a forum, workout generator, and links to Cross-fit HQ, social media outlets, and site sponsored equipment and apparel retailers.
These sponsors include Reebok (Cross-fit HQ official sponsor, Rogue, and Again Faster.
Website is designed for cross-fitters by cross-fitters! Information and content will be exemplary and accurate with direct input from members in every corner of the world.
First of its kind concept. Just like the sport itself, this is a grassroots movement that makes every move with its members in mind and harbors everlasting trust.
Direct feedback from end users will ensure site and application is being managed to the best of its ability.
FittersUnited will file for a copyright protecting the site from a breach of intellectual property and copycats.
Stages of Development
Review and complete business plan: Months 1 -2.
Pursue start-up capital: Months 3-4.
Receive start-up capital: Months 5-6.
Complete beta and functional application and website: Month 7.
Social media advertising campaign and public debut: Months 7-8.
Web-based application and website will use a CMS (Content Management System). CMS gives us the ability to edit the content areas of the web site ourselves. We will have access to a back-end administrative area, where we can use an online text editor to update and edit information daily.
Market Potential for FittersUnited
According to the U.S. Travel Association, 31% of the U.S. workforce travel domestically and internationally for work. As well, it estimates that 78% of Americans vacation annually. With Cross-fit growing at a monumental rate (an average of 3.2 open daily), it is certain that many of these travelers are participating in the sport at their local box. Since 2009, there is a 93% success rate when opening a Cross-fit box across the globe and takes a minimal amount of capital to do so compared to other entrepreneurial ventures in the health and wellness industry. As a cross-fit athlete, we are programmed to continue our regimen even out on the road. It becomes tough for many since many affiliates and not linked and do not accept athletes from other affiliates. Many gyms are not affiliated and certified by Cross-fit HQ. On average 1 of every 3 athletes at the 2012 Reebok Cross-fit Games worked out at their home gym. Three of the Top 10 athletes at the Games fell in this category. These athletes have top of the line residential boxes but do not want to pay the hefty royalties ($3,000) of being an official affiliate, however want to train athletes through word of mouth and networking. This is where FittersUnited will connect the dots and connect those who cannot get to an affiliate with those members who train athletes from other regions through our premium app and website. FittersUnited will allow these athletes to train anywhere and possibly even begin a movement to spread Cross-fit across the world. It will inevitably bring people from lands far apart together further strengthening Cross-fit's infamous sense of community.
Cross-fit was founded on the premise that it connects the mind, body, and soul through workouts that are functional for everyday life. I wish I could give you an average age for the typical Cross-fit athlete because there isn't. Everyone is doing it! One could walk into a local box and find athletes ranging from 17 to 77. Scott Olson, 58, was the oldest male athlete at the 2010 Cross-Fit Games – he has a max Deadlift of 425 lbs, and his max pull-ups record is 25. Rhonda Pierce, 57, was the oldest female athlete at the 2010 Cross-Fit Games – she has a max Deadlift of 205 lbs, and her max pull-ups record is 40. This just goes to show not only you and I, but the world, that a sense of community, camaraderie, and accomplishment cannot be found anywhere else like it can in Cross-Fit. Every single one of these customers in every region of the world will benefit from FittersUnited once it is ready for the world wide web. Whether its a "fitter(s)" going from New Jersey to Florida or from New Jersey to Germany, everyone will quickly realize the convenience and ease of using FittersUnited to continue on there journey to become the best they can be.
FittersUnited will pursue and serve every single member of the Cross-fit community world-wide. It will be made available for every smartphone, tablet, and PC available to the public on every platform including Microsoft and Mac.
Initial pricing for the services of FittersUnited will be an annual membership fee of $49.99 for complete use of the site and a fee of $1.99 for every appointment scheduled billed to the customer. The site and its users will be required to use PayPal, a secure payment medium to ensure secure transactions.
The app will be available for download on the iTunes store or on the FittersUnited website for $3.99. Once app is downloaded the services will perform in unison with the website and vice versa in regards to pricing and scheduling.
FittersUnited plans to expand its marketing horizon by advertising on social outlets such as Facebook, Twitter, Youtube, and Instagram uploading content daily and offering promotions such as waivers for dowloaded software. We will also orchestrate a sponsored cross-fit competition in several designated areas in the northeast.
We will work hand in hand with owners of boxes both locally and further out to spread the word to their athletes.
FittersUnited has a goal of working side by side with major companies in the cross-fit industry such as Reebok, Cross-fit HQ, Rogue, and Again Faster as well as all affiliates. Through customer loyalty, competitive pricing, dedication to the industry, and a wide array of services, FittersUnited will in time be a household name.
Design and Development Plan
FittersUnited will strive to be one of the most interactive and informative cross-fit geared website and application on the web.
Our website will include a geographic locationing map of members and their locations world-wide as well as a workout generator, modern scheduling forum, and personal fitness tracker which allows members to maintain a profile of milestones and information they have collected.
Start-up budget is estimated at $12,000 for design, creation, development, testing, and maintenance of FittersUnited.
Initial investment will come from a savings account and will seek an SBA loan upon growth of the business.
FittersUnited will be enlisting the services of web developer Web Duck Designs to create and sustain a site that is easy to navigate for users and will offer a functional platform for future growth.
We will be at the side of Web Duck Designs during code writing to ensure web site security protocol is optimum to ensure safety of the end users as well as following federal regulations for web traffic.
Web site URL will be fittersunited.com
FittersUnited will operate in Northern New Jersey at a physical location on 15 Industrial Avenue in Mahwah.
Location will be a 2,200 sq. ft. commercial property
Two Cisco CSC servers will enable heavy amounts of traffic from web users with minimal lag and room for future upgrades when business expands and requirements for information technology becomes extensive.
We will employ 3 full time employees. We must employ an on-site developer to handle routine maintenance of servers and workplace technology (office hardware/software). We must also employ front of the house representative to handle daily running of the online services such as questions from members and interacting with industry personnel. The other job we need to fulfill is an in house secretary who can file and distribute paper work as well as be proficient in Excel, Word, Powerpoint, and Access.
Prospective employees will have a background in the fitness industry as well as a broad understanding and experience in information technology and its application in FittersUnited's paramount platform.
FittersUnited will operate as a subchapter S corporation which utilizes pass through taxation to avoid being double taxed as well as limited liability protection against personal assets of the owner(s).
As well as hiring 3 full time employees, I, Tony Alonso, will be assisting with daily operations as well as consulting for member of our site.
Crossfit has proved that it is a revolutionary detour from the mundane conventional gym atmosphere and that it is here to stay. The industry was a crumb of a gigantic cookie that is the health and fitness industry in 2005 with only 18 affiliated boxes across the world. That number sky rocketed to 1,800 by 2010 and is currently at just over 6,000 with an additional 3-4 opening every single day. Individuals looking to live a better lifestyle and join a community with a sense of family are running, not walking, to Cross-fit boxes to sign up. It is estimated that by the years end of 2014 there will be close to 10,000 Cross-fit affiliated gyms opening world-wide and that number is expected to grow by 30% every year. There has never been a segment of the fitness industry that has been hotter and more profitable that Cross-fit since its inception by Gregg Glass in 2002. Cross-fit accounted for just $50 million of the fitness industry's $14 billion dollar revenue in 2010. Today the Cross-fit industry accounts for $1.8 billion of the fitness industry's $17 billion dollar revenue. It is in these numbers that FittersUnited will achieve its goal of providing individuals of the Cross-fit industry a fully functioning platform where they can track their goals and locate a Cross-fit box anywhere in the world to continue on the road to success and the accomplishment of whatever goals they choose to set year round. Cross-fit boxes are highly profitable in that they require much less equipment than a conventional "bodybuilding" gym that requires endless amounts of expensive equipment. Opening one allows more opportunity for an individual to exercise his or her entrepreneurial ability because less capital is required and their are no ties to a top tier corporation having a hand in their operations and in their pockets. FittersUnited believes that their is no such industry where the entrepreneurial spirit is discernible than in Cross-fit.
Ease of development
Faster and more convenient access to worldwide market
First hand experience to needs of clientele
Clear and concise focus on segment of industry (Cross-fit)
Low cost to maintain and enhance operations
Lack of initial staffing
Learning curve of new technology
Lack of recognition
Limited financial capital to fund website and application optimization
Growing market with tremendous potential
Demand for new application is high
Profit potential for novelty site is large
Emphasis on social media campaign can yield huge benefits and future marketing potential
Can be easily re-created
Security breaches by cyber-hackers
New entrants with large amounts of capital
Industry not yet officially established
Table of Contents
1) Table of Contents
2) Executive Summary
3) Mission Statement
4) Company Description
5) Competitive Advantage
6) Industry Analysis
7) Customer Analysis
8) Market Potential
9) Marketing Plan
10) Design and Development Plan
11) Stages of Development
12) Operations Plan
13) SWOT Analysis