Rebecca Elizabeth Wiggins Cutler
Ent 660 Strat-1
February 13, 2021
I am opening a fitness studio in the Bryson City, NC area. My business center will include Yoga, Meditation, Pilates, Aerial Silks, Aerial Lyra, Pole Fitness, and include an indoor pool and weight room. There is nothing like this in the area. The closest place that has anything similar to this is Asheville, NC. The product I offer is a gym fully staffed with equipment for daily use, open 24-7. I also offer coaching and fitness classes for all ages. There will be a kiddie’s class and babysitting center in order for parents to exercise.
I offer a service that helps people improve their health. Consistently attending my fitness center will increase good health, and can potentially offer peace with body, mind, and even spirit.
My Specific Goals with My Fitness Center(s):
1. To OWN my fitness studio building(s)
2. To have 10+ well-trained, full staff of employees
3. Grand Opening of creating a positive environment for all
4. To serve over 400 clients
5. To grow to more than one business location
6. To earn $800,000 to $1,000,000 million dollars a year
Operation Plan Narrative
As the sole owner, Rebecca Elizabeth Wiggins Cutler will be responsible for implementing all aspects of this plan. Rebecca Cutler has extensive fitness training experience and intensive educational business instruction, which she will utilize to develop a fitness community that will integrate her personal training and coaching skills. Mrs. Cutler will also engage her connections within the fitness center community to assist with her feasibility study on the profitability of in-person fitness training and aerobics classes in a pot COVID-19 world. Additionally, Mrs. Cutler will participate in local and regional workshops to help expand her customer base.
1. In order to own my fitness centers, I need to look into the commercial and residentials laws of Swain County (Bryson City) and Jackson County (Sylva), and to thoroughly understand those fees and terms. Most importantly, I need to have great financial standing. This includes a credit score well above 700. It also includes a low debt to income ratio. Last, but not least, I need recurring and growing numbers in clients to keep 2 fitness centers full of people and running successfully.
Employ Amazing, 10+ Person Staff
2. To employ a full staff, I need to train my apprentices for at least a year, so they know my goals and understand how I want my business to run, especially if I’m wanting to retire or if I pass away unexpectedly. In addition, I will have the paperwork completed for who I will turn my business over to one day.
3. Opening Day. By creating a positive environment for all, I will have inspirational quotes and posters all over my fitness center. I will greet guests with a smile, and treat my staff with respect, and let them know that they are appreciated. I will encourage them to keep up the great work and thank them for coming. If the staff are treated and trained properly, their positive energy will also reflect and shine on the guests that come into my studio.
4. To potentially serve 400 clients, I will need to have a 24-hour gym with exercisers coming in at any time they choose. If I set up a 2nd location, this will ensure high client numbers too, pulling people from multiple surrounding counties, giving them plenty of spaces to exercise. Also, my fitness centers will be over 3000 square feet so there is plenty of room for social distancing, machines, and spare rooms for classes and equipment.
5. In order to run more than one business location, I will need to already have a very successful single location to begin with. I need to strive for popularity and referrals to have over 400 clients. I will offer discounts for people who refer their families and friends. This will help me earn plenty of revenue too so I’m reaching my goal in profit. More and more counties will want to come to my fitness centers, almost forcing me to have to run at least 2 fitness center locations.
6. In order to make over 800,000$ a year, I have plugged in numbers and equations on my pro forma business plan on Microsoft Excel, resulting in my income showing over $1,000,000 a year. I would need more than 1 operating business location, preferably 2-3 fitness centers.