Kodiak Strength Training LLC | Application Preview
Kodiak Strength Training LLC is seeking government grants to support its business expansion. The funding would be allocated toward enlarging the facility and acquiring additional equipment, which would boost membership revenue and enhance service offerings. The expansion would also provide independent trainers space to operate, creating more revenue streams.
The business initially planned to expand after three years but achieved this milestone within its first year. Currently, demand for more space, equipment, and classes has surged, but cash flow challenges are hindering further growth. Once the new space is secured, membership rates will increase, with members already informed and in agreement. This new structure will introduce various membership tiers, aimed at providing cost savings while ensuring steady revenue.
Kodiak Strength Training emphasizes the growing importance of health and wellness and seeks to aid individuals in their fitness journeys. The owner has experience working with a diverse clientele, including cancer patients and those in rehab, which underscores their commitment to helping others achieve their health goals.
In terms of competition, the company has one local rival, Gold's Gym, but has recently attracted customers due to a reputation for exceptional service, recognized by being named 'Best Gym in Dripping Springs, TX 2024.' The unique community atmosphere and personalized relationships with members set Kodiak apart, highlighted by positive reviews and testimonials.
The request for funding is a crucial step toward meeting the evolving needs of members and fulfilling the business’s potential for growth and community impact.
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General Information
Business Registration Number: Kodiak Strength Training LLC
Location: Austin, TX, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: YES
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Funding Usage
I would use this funding to help with the expansion of my space for my business and to buy more equipment to increase membership revenue. The equipment would be a great amenity for me to sale to my customers and offer space to independent contractors (trainers) to conduct business under my roof and become additional revenue for my business. It will also help me be able to sign the 5-year lease for the expansion.
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Business Plan
When i started this business, It was planned to expand space and equipment inventory after 3 years of operation, i was able to accomplish that in the first year of 2022. Now, I am in another space and in less than a year in 2023, I have had to move into a larger space again. This year, 2024 we have had an increase in demand for more equipment, space, amenities, and group classes. Yet we are not able to do so, since we have a cash flow problem at the moment. once I'm able to secure the space, we will be increasing current membership rates, which all (113) current members are aware of and agree with the terms, having a set monthly rate for independent contractors to rent space, and offer classes to train groups. This will enable me to have membership tiers to offer the customer to save some money on their monthly investment with us but also secure a committed monthly revenue. With this growth, by years 5-6 I would like to open another location with the same infrastructure as the original location. We live in a time where health and wellness has become priority overall, being involved in this industry has taught me one thing, People will never stop taking care of themselves. Especially when they need to take care of others. This is why i started this business, to help others. But truth be told, I am lacking the time and manpower to make this happen at a greater scale. I have worked with cancer patients, morbidly obese individuals, physical rehab patients, and your average joe just trying to fit into a better pair of jeans. They all had one thing in common, to be better than yesterday. Their success is my success. I ask whomever it is that chooses to invest me to consider that one day they might the one walking into my facility and for them to know that I'll do everything I can to help you win your health back.
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Self Identified Competition
I have 1 competitor in the same industry as me, it is a local commercial golds gym. But i have had customers switch to my facility recently, especially because my gym won "Best Gym in Dripping Springs, Tx. 2024". Our service has pushed us past the competition, but we now have a demand for amenities and space we cannot offer right away. The #1 factor that makes us different, is our community. We have reviews and testimonials to prove this. Members love that they walk in, and we greet them by name and have a personal relationship with them. This is one of many reasons we have the success we have.
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