Jungle Gym Strength and Conditioning | Application Preview
Jungle Gym Strength and Conditioning is seeking government grants to cover critical expenses that would significantly enhance its operations. The funding will be used to pay off a $12,000 capital lease for gym equipment and to hire assistance for tax filing, which has been neglected since 2020. Addressing these financial issues is essential for the gym to employ staff and support existing employees.
The business plan highlights that Jungle Gym is currently struggling due to a lack of personnel and marketing resources. The gym's revenue has dramatically declined from $220,000 annually before COVID-19 to just $36,000 in 2020. While there is some recovery with an expected revenue of $90,000 this year, the gym's sustainability relies heavily on client retention, boasting an impressive average of 4.5 years per client. To boost revenue, Jungle Gym has started renting out space to subcontractors, but the lack of adequate staff limits growth potential.
Since its establishment in 2011 and opening its doors in 2018, Jungle Gym has built a strong community presence and contributed actively to local initiatives. However, financial constraints have hindered its ability to engage in philanthropy.
In terms of competition, Jungle Gym focuses on its unique training programs and community engagement rather than directly competing with others. Its competitive advantage lies in its long-term member retention and a commitment to providing tailored training experiences for all fitness levels. The approval of this funding would be a pivotal step towards restoring Jungle Gym's operations and community contributions.
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General Information
Business Registration Number: 8109995538
Location: Newport News, VA, 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
This grant would pay off the capital lease for the gym equipment which is currently valued at $12,000. It would also allow us to hire someone to file our taxes which have not been filed since 2020. Paying these off would allow the program to hire employees and pay their current employee.
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Business Plan
The business will be at a standstill until we can hire people and be able to afford marketing. The only way we are able to stay afloat is that retention average per client is 4.5 years. Jungle Gym went from making $220,000 annually before COVID to $36,000 annually in 2020. We have been able to regain some customers and are scheduled to make $90,000 this year. This has just been out of pure will. We have recently rented out some space to sub-contractors to use our equipment and space. Getting more of these renters in the business will greatly help us. Unfortunately I do not have enough employees to help with this matter. Jungle Gym has been an identity since 2011 when it licensed its business. In 2018, Jungle Gym opened its own doors, not only providing amazing training programs but being active in the community. We used to be a philanthropist brand but unfortunately we can’t even do that because of financial restrictions.
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Self Identified Competition
Jungle Gym has its own program, therefore competition is only in the eye of the beholder. We offer community and unique training to all types of fitness levels. The average tenure of each member exceeds 4 years, therefore we value consistency rather than big pops of members who don’t stick with it.
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Contact Applicant
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