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.

Keys to Success: Milwaukee Ironworks’ keys to success are:

• Marketing services to individuals
• Recruitment of experienced trainers and employees
• Raising productivity
• Lowering overall total costs in the long run 

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

　Stock Breakdown:

Product and Services:

Products:

Weight Lifting Equipment:

Weightlifting machines

Bars

Dumbells

Squat racks

Benches

Bands

Tread mills

Olympic weight sets

Boxing Training Equipment:

Heavy bags

Speed bags

Gloves

Ring

Jumping ropes

Kettle bells

Floor mats

Extreme Fitness Equipment:

Medicine Balls

Stair Climbers

Tread Mills

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. Since our company is new, we are aiming at both the recreational lifter and runner, along with the serious lifters and marathon runners. 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. 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.

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 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

Our Competitive Edge?

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 these and provide a variety but be high quality services. We focus on the individual’s goals and want to give them a workout atmosphere that is second to none.

Promotion Plan: Our plan is to market for this new workout center. This will consist of many different ideas. We will create a website and use internet marketing in order to come up as a top search in search engines for “workout facilities in Elm Grove, Wisconsin.” We will also include a e-mail subscribing feature on our website that will feature all the latest news, information, and rebates regarding Milwaukee Ironworks. Another way we will market for our gym is to use the more traditional approach of making cheap flyers to put in people’s doors in Elm Grove and the surrounding areas, such as Wauwatosa and Brookfield. We could also try going door to door describing our gym and hand out a flyer in person. If it is possible, we could put advertisements in the mail for all people of Elm Grove.

Experience: Josh Shobert brings a Bachelors in marketing to the business. He attained this at UW-Whitewater. Dayton Yu brings wrestling, boxing, and weightlifting experience to the business, along with a degree in Business Administration. Erik Folker brings a degree in Accounting to the business. Ryan Lumsden brings knowledge of bodybuilding and nutrition, along with a degree in Business Management. Zach Hill brings bodybuilding and nutrition, along with a Masters in Business Administration to Milwaukee Ironworks.

Competitors: We found out that there is a Snap Fitness in Elm Grove, but that is the only relative competitor to us. We aren’t concerned with them, because we know that we have more to offer at our brand new gym that is unique. They run a chain business which runs differently than ours.

Obtaining the Financing:

We will obtain the financing for our business by going through the bank. The bank that offers us the best loan terms; we will go through that lender. For the down payment and extra money for any events that arise, we will each put in $60,000 which will be a total of $300,000.

Type of Business Entity:

Our group has decided to incorporate. The reason why we decided to incorporate is that it offers several advantages that a partnership, sole proprietorship,

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