Renaissance Club | Application Preview
Renaissance Club is seeking a $50,000 government grant to enhance its operations and ensure long-term growth. The funding will help pay off $20,000 in credit card debt and allocate the remaining $30,000 toward development and marketing over the next 4-6 months. Achieving a milestone of 250 members is crucial, as it would lead to a sustainable income model. Recently, membership has increased from 25 to 93 within three months due to improved advertising strategies.
The business plan outlines several growth phases. In the first 1-2 years, Renaissance Club aims to expand its member base in Los Angeles through increased advertising, aiming for 250+ members. Plans include brand collaborations and exclusive events to enhance member value. In years 2-3, expansion to other major cities like Nashville and Chicago is planned, as well as negotiating deals with vendors to improve profit margins. By years 3-5, the goal is to create unique classes and experiences, building on their brand's intellectual property.
Renaissance Club offers a distinctive membership experience that encourages trying new activities, from archery to cooking classes, all arranged and paid for by the club. This model not only benefits members by providing access to high-value experiences at a lower cost but also supports local vendors through guaranteed business.
Competing with companies like Classpass and Fever, Renaissance Club stands out by covering a broader range of experiences beyond fitness and beauty, creating unique opportunities for in-person learning and exploration. The club's approach ensures both member enrichment and local business support, positioning it as a unique service in the market.
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General Information
Business Registration Number: 87-4543193
Location: Los Angeles, CA, 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: NO
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Funding Usage
We are kindly asking for $50,000. This would go a tremendous way not only in keeping us afloat, but in securing our growth for years to come. $20,000 would immediately pay off our credit card debt (naturally, our expenses are greater than our income at this stage). The remaining $30,000 would go toward subsidizing our development and marketing costs for the next 4-6 months, and help get us to our goal of 250 members. This is an important milestone because 250 members would finally mean our income is greater than our expenses. We are extremely confident we will hit this milestone with this grant because already in the last 3 months, after some important changes in our advertising, our membership has more than tripled (from 25 members to 93 at the time of writing this).
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Business Plan
We have an exciting game plan over the next 5 years: Over the next 1-2 years, we'd like to increase our advertising spend and grow the business to 250+ members in Los Angeles. At this milestone, our costs will officially be lower than our income. During this time, we plan to start doing brand collaborations and exclusive group events to further strengthen the Renaissance member community, and provide them with more value. Over the next 2-3 years, we would like to expand to other metropolis cities such as Nashville, Portland, Austin, New York, Chicago, and Philadelphia. Additionally, by this point we hope to be well-known enough in the area to be making discount deals with vendors, thereby reducing our costs, and increasing our profit margin from ~$20/member/month to an average of $30-$40/member/month. In 3-5 years, we would like to be producing and curating our OWN unique classes and experiences, with our own IP and real estate. Examples of such activities would be: a basic Car Tune-Up class, Clowning, Puppetry, Basic Philosophy, Pyrotechnics, and Improv. Renaissance Club is truly unlike anything that currently exists anywhere in the world. If you haven't already gleaned this from our website, Renaissance Club is a membership service that removes the friction between YOU and trying something NEW. Each month, our members have a mystery experience: everything from Archery to Pottery, Blacksmithing, Whale Watching, Dance Classes, Cooking Classes, Magic, Jiu Jitsu, Tai Chi, Botanical Gardens, Museums and much more. Everything is registered, booked, and paid for by us. The beauty of this company is that not only are we providing tremendous value to our members (giving them $250+ experiences at a fraction of the cost), we are also propping up vendors and small business throughout LA by guaranteeing business to them each month (since we choose the activities our members do). This is the true win-win factor Renaissance Club has to offer. We are truly an "all boats rise with the tide" service. The more we grow, the more all of our vendors grow.
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Self Identified Competition
Classpass, Fever, and Masterclass are probably our most similar competitors, however each are quite different from us, and therefore we are confident we fill a hole in the market they do not. Classpass is most similar to us. In the next 10 years, we hope to model ourselves similarly to Classpass in that we have bespoke contracts with each of our vendors, and allow our members to choose what they do in a simple, frictionless way (rather than choose for them). The primary difference is that Classpass deals exclusively in Fitness and Beauty. We cover pretty much everything else: All those unique, interesting, intellectually stimulating things you would never stumble upon, but that enrich your life. Fever has branded, curated experiences they offer. They are cool, but often underwhelming, and only cover a fraction of the vast variety we have. Unlike Fever and Classpass, Masterclass shares our ethos for learning and education. The primary difference there is that we are hands-on and in-person, while Masterclass is exclusively online.
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Contact Applicant
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