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h taxi <br /> • IT FIGURES <br /> 2002 BUSINESS PLAN <br /> Charlotte Gatewood and Sherri Gatewood <br /> Co-Owners <br /> EXECUTIVE SUMMARY <br /> The purpose of this plan is to provide common focus and direction for the co-owners to begin a business <br /> venture as It Figures,a women only fitness center(with possibly two future tanning booths)for members <br /> only to be located in Space C101A at Elk Park Center in Elk River,Minnesota. Elk Park Center is a <br /> community shopping center located on the west side of Highway 169 at Jackson Road approximately 2 <br /> miles north of the Highway 169/Highway 10 interchange. <br /> The local industry conditions are one health gym and one women-only(Curves)fitness center, in the <br /> population base of 17,016. The population base It Figures is marketing is women 35 to 65 years of age. <br /> Co-owners Sherri and Charlotte Gatewood,do not have specific experience in fitness other than each has <br /> been prior member of a women-only fitness center. Sherri has prior experience working with the public <br /> while employed with a medical facility and as an office manager in a local business. Charlotte has been <br /> employed with a manufacturer of durable goods and is currently an executive member of the business- <br /> planning group and as Director of Human Resources whose annual gross sales are in excess of$50 million <br /> annually. Each of the co-owners is determined to achieve success in this business venture. <br /> The initial start-up financial needs have been supplied from personally from the co-owners. This has given <br /> San opportunity to secure the city of Elk River,the initial order for equipment,office equipment and <br /> business software,the first and last payments for the lease of the space in Elk Park Center,working capital, <br /> and the financial needs for the improvements of the lease property. <br /> MARKET AND ECONOMY <br /> It Figures is the perfect business to begin. Health and fitness is a 33 billion-dollar industry. Why is It <br /> Figures so opportune: low capital requirements; low business investment including equipment of$19,500; <br /> Operational simplicity;minimum staffing requirements of one full time and 2 part time employees during <br /> the initial start-up phase;no seasonality;health,fitness and beauty related investments are consumer <br /> decisions usually unaffected by economic trends;direct response marketing,local print advertising creates <br /> a high quantity of direct response inquirers. Gross sales often exceed expenses within the first 60 days of <br /> operation. After the third month it will produce a profit <br /> LOCATION <br /> It Figures facilities cater to a niche market. We attract a certain type of consumer by combining a women <br /> only thirty-minute fitness center with built-in personal attention. By locating this business in a community <br /> shopping center,we will be visible to that market niche. <br /> DAILY OPERATIONS <br /> It Figures is planning on opening for business by August,2002. The minimum operating hours will be <br /> Monday through Friday 6:30 a.m.—7:30 p.m.and on Saturday 6:30 a.m.—noon. As the business and <br /> memberships increase the hours of operation will be evaluated and adjusted to the needs of the members. <br /> • INCOME DETAILS <br /> The source of revenue to It Figures will be generated by two types of fees. The first is a service fee that <br /> will average$60 per membership. The initial fee is$149.00,however to gain memberships advertised <br />