Milwaukee Ironworks

Introduction to Our Business

Our business is called Milwaukee Ironworks. It will be a 24 hour facility that will offer everything you need to get into shape, for an affordable price. This business will be owned and operated by five different financial contributors, which consist of Zach Hill, Erik Folker, Ryan Lumsden, Dayton Yu, Josh Shobert.

It will be a hardcore weight lifting, boxing, and extreme fitness center.

Slogan: “We’ll whip you’re assets into shape!” We chose this slogan because it is simple, catchy, and relevant to our goal as a business, which is to help our customers attain their physical goals.

Mission Statement: Our fitness facility will be a one of a kind place where the young and old can come to work out. We want to train both the advanced and the novice lifters, offer better lifestyles to all customers, along with giving customers a chance to work out in a state of the art boxing center. Our objective is to maintain and grow our position as the best training facility in the Milwaukee area.

Personnel Plan: 2 Managers, 2 Assistant Managers, 3 full time workers

2 Managers	$96,000
2 Assistant Managers	$60,000
3 Full Time Workers	$60,000
Total Payroll	$216,000

Product and Services:

• Weightlifting machines
• Free weights
  • Squat racks
  • Benches
  • Stair climbers
  • Tread mills
  • Olympic weight sets

Sub Items for the boxing training include:

• Heavy bags
• Speed bags
• Gloves
• Ring
• Jumping ropes
• Kettle bells
• Floor mats

Services:

• Boxing Trainers
• Weightlifting Trainers
• Extreme Fitness Trainers

Target Market: People that want to stay in shape, relieve stress, build confidence, gain energy, increase stamina, social networking, or the best training in the Milwaukee area. In addition, our target market is people that are 18 and above. The reason for this decision is that we want people that are actually serious about making gains and are not there to mess around. By having people that mess around, horseplay causes people to have a chopped up workout and they possibly and become hurt by another person messing around. We are aiming at both the recreational lifter and runner, along with the serious lifters and marathon runners. Since our company is new, we will try to target the younger generation first. That means people ages 18-30. This is because they will hopefully have kids that will want to train here in 15-20 years. We will also welcome middle-aged and senior citizens, because anyone can have a passion for training, and we will embrace that.

Financial Goal: The financial goal of our business is to be able to cover all the expenses by the money brought in through the memberships of the customers and the cost of training.  After our business has been open for the first year, our goal for the next year is to cover the expenses and to have extra money to set aside for any catastrophic  events that may occur.  In addition, we hope to save the money for future renovations.  After our business can prove to be successful, we could possibly add more luxuries to make it more desirable to the customers.

Cost of Membership: To lure customers to our facility, we will offer a one week free trial.  After the trial will expire, if the customers want continue their membership, they could have several membership option:

-One month:  $60.00

-Three months: $150.00

-Six months: $280.00

- twelve month: $500.00

Location:

Our location is Elm Grove, Wisconsin, a suburb of Milwaukee. Known for its rich heritage and beautiful green spaces, the Village of Greendale consistently ranks as a favorite small town to visit and a great place to live and work. Residents continue to enjoy lush green spaces and thriving businesses. We think this will be a perfect location for our business because of these reasons. It will also invite those in Milwaukee to our facility for an excellent training experience.

Expenses:

Startup expenses for this business will be around $2,000,000. We estimate the building will cost $1,120,000 ($70 sq/ft x 14,000 square ft.), the property taxes

Projected Financial Data

Year 1	Year 2	Year 3
Customer Sales	$150,000	$220,000	$410,000
Trainer Rent Sales Plus Commission	$17,000	$24,000	$29,000
	$5,000 Rent from all trainers in year 1+10% commission ($12,000) = $17,000
Payroll	$216,000	$216,000	$216,000
Sales and Marketing Expenses	$	$	$
Utilities	$	$	$
Insurance	$	$	$
Other	$0	$0	$0
Total Operating Expenses	$	$	$
Net Profit	$	$	$

What Makes Us Different?

Most businesses will usually offer either a variety of different but generic services or they will usually offer one service that is high quality.  However, our business is going to be a combination of a variety and high quality services.

Here are some videos that illustrates what our business will offer: