We're an F45 fitness studio looking to upgrade and convert to The Yard Gym. A newer fitness franchise that focuses on strength and conditioning versus pure HIIT workouts. The transition will allow us to differentiate ourselves in the fitness industry, especially in Durham Region. As an F45, right now our main competition is other F45's!! There are now 6 locations in Durham (Ajax to Courtice) serving a population of 350,000 with 3 of those locations (ours as one of them) in the town of Whitby, serving roughly 100,000 people.
After the transition to The Yard Gym, not only will our marketable area expand from 33,000 (3km radius) to nearly 200,000 (8km radius), our target audience will also increase by 80%, nearly doubling, as we'll cater to a much broader demographic.
As F45 Whitby West, we currently have 300 active members, 75% of which are on unlimited recurring memberships and the remaining 25% are on part-time memberships. We're projecting to keep 98% of our members through the transition plus increase by at least 33% before the end of the year. We're projecting our revenue to increase from our current $38k per month to over $50k per month by the end of the year, well positioned for Q1 - the strongest growth quarter for fitness studios.
My wife and I currently lead a team of 13 coaches who work alongside us to coach our classes. On top of leading workouts, I'm primarily responsible for general studio management, sales and marketing. While my wife heads-up recruitment of new coaches, continued education, event planning and social media.
Together we've built a thriving community of like-minded individuals and we're incredibly excited to differentiate our studio with this unique strength and conditioning program, wrapped inside a stylish boutique fitness studio.
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