The Hyve is a community-based gym and fitness center that focuses on strength-driven high intensity interval training exercise and nutrition programs for all levels of fitness. We are looking to raise $100-$250k for start-up cost, construction build, equipment, etc. Our Mission is to empower individuals to reach their full potential in physical health, mental well-being and overall quality of life.
Market Analysis
1. Target Market -
Income: $60,000+
Fitness Goals: All
Interests: All
2. Market Size and Growth Potential -
75+ members before opening
10+ new members/ month
Allow one-on-one personal training
Recovery post workout
Recovery class
Yoga class
HIIT w/ strength progression
3. Industry Trends -
HIIT
Class-oriented
Community-based
Tech-interactive - App, in app workouts, in app nutrition guide, studio connection, vital monitoring, TVs showing programming, music sound
system, DJ on weekends, BMI tracking.
4. Local Competitors -
F45
24 Hour Fitness
Crunch
Crossfit Gyms
Other MA/PA
BootCamps
5. Pricing and Promotions -
Monthly: $150+
Bi-weekly: $75+
Drop in: $25
7 Day Trial: $10
3 Day Trial: $5
Local Business’/ Apartment Complex : 20-25% discount waived starting fees.
Friends & Family : $10 - $20 off every month with tied membership.
6. Market Opportunities -
Nutritional assistance, meal prep in house, HIIT with strength progression, post class
recovery, dedicated recovery classes. Majority of fitness centers do not offer an in
house meal prep, nutritional assistance, and do not offer any assistance with recovery
post workouts or teach importance through stretching and breathing courses.
7. Challenges and Threats -
Building membership before start.
Increased tech innovation, home gyms, at home workouts
Big box gyms
Franchised locations
Pandemics
Theft
We can combat the above by offering a strong starter membership package deal
(merch included, free week of meals, discounted monthly rate, etc… )
Tech can only go so far, people need human interaction and could be doing things with
wrong form.
Box gyms and franchise locations such as F45 or other class based centers. We offer
nutritional/habit building assistance on hand. No plateau with strength progression.
Pandemics - App in home workouts available, outside workouts
Security camera system
Company Description
The Hyve is a community-based gym and fitness center that focuses on High-Intensity Interval Training (HIIT) exercise and nutrition programs for all levels of fitness. Our mission is to empower individuals to reach their full potential in physical health, mental well-being, and overall quality of life by providing expert-led fitness and nutrition services within a supportive and motivating environment.
Company Name: The Hyve
Structure: The Hyve will operate as a [Limited Liability Company (LLC) or Corporation] to limit personal liability and enable efficient growth and management. The appropriate structure will be chosen based on legal, tax, and regulatory considerations.
Mission Statement: Our mission is to help individuals transform their lives through a unique combination of HIIT exercise, personalized nutrition, and a strong sense of community, enabling them to achieve their fitness and wellness goals while forging lasting connections.
Core Values:
1. Inclusivity: We welcome individuals of all ages, fitness levels, and backgrounds to join our community.
2. Expertise: Our team of certified trainers and nutritionists are dedicated to providing the highest quality of guidance and support.
3. Innovation: We continuously seek to improve and expand our offerings, incorporating the latest fitness and nutrition trends and technologies.
4. Community: We foster a positive, supportive environment where members can connect, inspire, and motivate each other.
5. Success: We are committed to helping our members achieve their personal fitness and wellness goals through tailored programs and ongoing support.
Ownership and Management Team: The Hyve will be owned by Justin Reints and Jason Armstrong, who will also serve as the CEO/CFO. The management team will consist of experienced professionals in the fields of fitness, nutrition, and business operations. Key team members will include a General Manager, Fitness Manager, Nutrition Manager, and Marketing Manager, each responsible for overseeing their respective areas and ensuring the overall success of the business.
Legal and Regulatory Considerations: The Hyve will comply with all local, state, and federal regulations pertaining to gym and fitness center operations, including obtaining necessary permits, licenses, and insurance coverage. Health and safety standards will be strictly adhered to, ensuring a safe and enjoyable environment for both clients and staff.
Executive Summary
The Hyve is a community-based gym and fitness center specializing in High-Intensity Interval Training (HIIT) and nutrition programs for all levels of fitness. Our vision is to create a supportive and inclusive environment that empowers individuals to achieve their fitness and wellness goals while fostering a sense of community and camaraderie.
Our unique selling points include:
- A wide range of HIIT training programs tailored to accommodate various fitness levels and goals.
- Expert-led nutrition services that complement our exercise programs, educating clients on the importance of a balanced diet for optimal performance and well-being.
- Highly trained staff who provide personalized attention, guidance, and motivation to help clients succeed.
- State-of-the-art facilities and equipment that cater to the diverse needs of our clients, ensuring a safe and enjoyable workout experience.
The fitness industry is evolving rapidly, with increasing demand for specialized services like HIIT workouts and personalized nutrition advice. Our fitness center is strategically positioned to capitalize on these trends and cater to the needs of a growing target market, which includes health-conscious individuals, busy professionals, and people seeking a supportive fitness community.
Our financial projections demonstrate the potential for robust revenue growth and profitability, driven by a combination of membership fees, personal training sessions, and nutrition consultations. We anticipate reaching the break-even point within the first two years of operation, with steady growth and positive cash flow thereafter.
The Hyve is poised to become a leader in the local fitness community, offering an unparalleled combination of HIIT exercise, nutrition expertise, and a welcoming atmosphere that inspires and supports clients on their fitness journey.
Services
HIIT - High Intensity Interval Training
Recovery - Stretching and breathing techniques
Nutrition - Meal preparation / “diets” / macronutrient advice & guidance
Personal Training - One-on-one training with one of our certified coaches
Resistance Training
Cardiovascular Training
Yoga Class
Family oriented class / Dedicated family work space
Operations
The day to day operations of The HYVE will be managed by The ownership team and a team of professional certified fitness trainers. Hours of operation will vary day to day; first class 5am - last class 6pm. Classes to fill hours in-between. Open gym hours for personal training, recovery, or use of equipment. Dedicated classes for family oriented workouts or dedicated space for families to workout together. AGE TBD
Flexible tiered membership packages. Including monthly, yearly, and drop in rates/memberships.
Pricing structure will be competitive with HIIT gyms in the area.
Marketing Strategies
1. Offer promotions and discounts to attract new customers.
2. Host events and classes to engage with the local community and build brand awareness.
3. Utilize social media to showcase success stories, gym culture, and promotions.
4. Develop referral programs to incentivize current members to bring in new customers.
5. Provide excellent customer service to retain existing members and encourage positive word-of-mouth.
6. Partner with local businesses and organizations to cross-promote services.
7. Leverage influencer marketing to reach a wider audience.
8. Provide personalized training plans and nutrition advice to help members achieve their fitness goals.
9. Utilize email marketing to keep members informed of new classes, promotions, and events.
10. Invest in high-quality equipment and facilities to provide a top-notch fitness experience.
11. Offer a wide range of swag available in gym as well as online.
12. Wrapped vehicle (old school but eyes are always wondering on the road).
Financial Plan
1. Start-up costs: Determine the start-up costs, including the cost of equipment, rent, utilities, staff, and marketing expenses.
2. Revenue streams: Identify multiple revenue streams, such as membership fees, personal training sessions, nutrition consultations, and merchandise sales.
3. Membership fees: Set membership fees that are competitive with other gyms in your area and that align with your target market.
4. Budget: Create a budget that estimates your monthly income and expenses. This will help you determine how much revenue you need to generate to break even and eventually turn a profit.
5. Marketing budget: Allocate a marketing budget that includes advertising, promotions, and events to attract new customers.
6. Staffing costs: Manage staffing costs by hiring qualified staff with the necessary skills and experience and adjusting staffing levels to match demand.
7. Equipment maintenance: Schedule regular equipment maintenance to minimize repair costs and ensure the safety of your customers.
8. Financial statements: Prepare financial statements, including income statements, balance sheets, and cash flow statements, to track your financial performance and identify areas for improvement.
9. Investment strategy: Develop an investment strategy that maximizes returns while minimizing risk.
10. Emergency fund: Build an emergency fund to cover unexpected expenses such as equipment repairs or unexpected rent increases.
By following these steps, we can create a solid financial plan for THE HYVE.
What sets THE HYVE apart:
- Strength driven interval training gym
- Bag work (will either need to get certified or higher a coach with boxing experience)
- On premise meal prep company (NR) providing to-go meal options along with meal plans for those looking to make significant healthy eating habits
- 1000-1500 sq. foot state of the art facility
- Featuring local vendors/small business such as, fresh pressed juices, specialty waters, recovering supplements, etc
- Work with local artist to develop consistent well branded SWAG.
- Fuel bar offering smoothie, protein options, pre-workout, coffee. A place where the community can chill pre and post sweat
- Give back to the community- think of organizations that give back that we could partner with. The more we give the more the universe will give in return.