Are you about starting an indoor playground business? If YES, here’s a complete sample indoor playground business plan template & feasibility report you can use for FREE to raise money.
This is one lucrative business that sure can guarantee good returns on investment. However, you will be required to do some underground work too. It becomes therefore really expedient that you do the needful to garner the right information that will be useful to your business as you launch out.
A Sample Indoor Playground Business Plan Template
1. Industry Overview
The indoor playground which is also known as indoor play centers are playgrounds located in facility; shielded from direct impact of climatic conditions. These facilities are specifically designed for kids to play in, exercise and have incredible fun.
The soft-contained structure and play equipment are all wrapped in soft foam so as to absorb the impact when children fall or bounce around them. Players in this industry operate franchised fitness and recreational sports facilities for children aged 18 and younger.
The Children’s Fitness Center Franchises industry has indeed coped well over the last five years, as it recovered from the economic downturn that affected most businesses in the united states.
Rising per capita disposable income as well as growing awareness of the benefits of playing and exercising regularly, especially in response to the rising childhood obesity rate, have driven demand for this line of business in recent time. Going forward, rising per capita disposable income and lower unemployment levels will continue to drive up demand for franchises.
The Children’s Fitness Center Franchises industry of which indoor playground line of business is subset of is indeed a very large industry and pretty much thriving in all parts of the world especially in developed countries such as United States of America, Canada, United Kingdom, Germany, Australia and Italy et al.
Statistics has it that in the United States of America alone, there are about 1,050 licensed and registered children’s fitness cum indoor playground facilities including those who are into franchising responsible for employing about 10,723 employees and the industry rakes in a whooping sum of $550 million annually with an annual growth rate projected at 2.0 percent.
My Gym Children Fitness Center, Stretch –N- Grow International Inc. and The Little Gym are considered to have the giant market share in this industry. According to IBISWORLD, The revenue for the Children’s Fitness Center Franchises industry is expected to increase at an average annual rate of 2.0 percent to $550.3 million over the five years to 2016.
No doubt, The Children’s fitness center franchises have benefited from rising per capita disposable income, coupled with rapidly growing awareness of childhood obesity and the importance of daily physical activity. While the number of children aged nine and younger remained stagnant over the five-year period, it still grew in 2016, prompting industry revenue to also grow 1.4 percent that year.
IBISWORLD also projected that profit is expected to rise from 9.0 percent of the industry revenue in 2011 to 11.1 percent in 2016, driven by some children’s fitness center franchises expanding their high-priced service offering to activities such as interactive fitness
In recent time, the industry has experienced revenue growth, despite many families being time-strapped. While the industry contended with mounting competition from alternative leisure activities, such as bouncy castles and cinemas, many operators generated industry revenue growth on the basis of convenience.
In the coming years, the industry revenue is forecast to grow as the Children’s Fitness Center Franchises centers continue to enhance their product portfolios to attract children and families, despite their reduced leisure time
Over and above, starting an indoor playground facility business in the United States of America can be some worth stressful, it requires enough cash to acquire land large enough to accommodate the kind of indoor playground facility that can comfortably attract children cum families and also cash required to equip the indoor playground facility to meet the standard expected by potential users.
2. Executive Summary
Bellerose Indoor Playground ®, LLC is a standard and well equipped indoor playground cum children’s fitness center facility that will be located in a growing community in St Louis – Missouri.
Our basic aim of setting up the business is to contribute our quota in ensuring that children cum families who live in St. Louis and neighboring towns have an indoor playground facility for their children to catch fun to the maximum and also to open; a facility highly suitable for family recreation and bonding.
We are committed to nurturing the play, imagination and early learning in children while providing a clean safe environment for children to explore and have fun to the maximum. We have been able to secure a standard indoor playground facility in a central and easy to locate location in St. Louis – Missouri.
Aside from the fact that our aim of starting the business is to entertain children and keep the physically and mentally fit; we will still go ahead to make available, video game house, bowling alley, BBQ joint, food and drinks court, ice cream shop and enough parking space so as to get parents and guardians occupied when they bring their wards to our indoor playground facility.
We are well equipped to services the whole family cum community as well as visitors and travelers. Bellerose Indoor Playground ®, LLC is going to become the number one children cum family – focused recreation facility in the whole of St. Louis – Missouri and we will work hard to build our indoor playground facility to match the needs of the average child under the age of 18 in the community.
Before launching the business, we conducted a thorough market research and feasibility studies and we were able to come to the conclusion that St. Louis – Missouri community is the right place to open our indoor playground facility. As a matter of fact, our major aim of starting Bellerose Indoor Playground ®, LLC is to encourage families in the community to cultivate the habit of regularly taking their kids out to have fun.
Our indoor playground facility is specifically designed and built to take care of children as well as parents, we have active childcare services for toddlers and we have membership packages that are highly discounted for families that enrolled in our indoor playground facility or churches and schools who would want to regularly make use of indoor playground facility.
Bellerose Indoor Playground ®, LLC will at all times demonstrate her commitment to sustainability, both individually and as a business, by actively participating in our communities and integrating sustainable business practices wherever possible.
We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.
Bellerose Indoor Playground ®, LLC is a business that is owned and managed by Stacy Jones and her immediate family. Mrs. Stacy Jones has robust experienced in the children entertainment and family recreation industry and she possess B.Ed. in Physical and Health Education.
3. Our Products and Services
Bellerose Indoor Playground ®, LLC is in the children’s fitness center franchise industry cum indoor playground line of business to provide children’s fitness center, entertainment and recreation facility for residence of St. Louis – Missouri which is why we have been able to put up an indoor playground facility that can help us achieve the goal.
We are optimistic that everyone who make use of our indoor playground facility will definitely derive maximum fun and of course good value for their money and time. These are the services and amenities that will be made available to our clients in our indoor playground facility;
- Varieties of ride on toys for children
- Child care services
- Amusement and recreational services
- Ceramic Paintings
- Spas for Children
- Game Dungeons
- Bouncy Castle
- Managing indoor playgrounds and gymnastics centers
- Providing gymnastics instruction
- Providing dance instruction
- Providing swimming instruction
- Providing additional children’s fitness activities instruction
- Other related indoor playground facility operations.
4. Our Mission and Vision Statement
- Our Vision is to build a world – class indoor playground cum children’s fitness facility and also to contribute our quota in encourage families and children in St. Louis – Missouri to actively engage in children fun – filled and recreational activities.
- Our mission for establishing Bellerose Indoor Playground®, LLC is to create a movement in the community that supports total engagement in children cum family in fun filled and recreational activities.
- We want to contribute our quota towards ensuring that St. Louis – Missouri community produces some of the happiest and healthy children free from obesity in the whole of the United States of America.
Our Business Structure
Bellerose Indoor Playground®, LlC is in business to become the leading indoor playground facility cum children’s fitness center in the whole of St. Louis – Missouri and we are fully aware that it will take the right indoor playground facility, management and organization – structure to achieve our goal.
We will ensure that we recruit only the best hands that can help us achieve all that we are set to accomplish. Our business will not be built only for the purpose of giving our members / customers value for their money and time, but also we will ensure that we make our work environment highly conducive for all our employees.
We will provide them with employee package that will help them stay motivated and deliver on their various tasks and goals et al. In view of that, we have made provisions for the following positions to be occupied by highly qualified and experienced staff;
- Chief Executive Office – CEO
- Indoor Playground Facility Manager
- Accountant / Cashier
- Marketing and Sales Officer
- Indoor Playground Safety Instructor / Assistant (5)
- Customer Care Executive / Front Desk Officer
- Cleaners
5. Job Roles and Responsibilities
Chief Executive Officer – CEO:
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for fixing prices and signing business deals
- Responsible for providing direction for the business
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Carries out staff induction for new team members
Indoor Play Ground Facility Manager
- Responsible for operating and managing the indoor playground facility
- Ensures that the facility is in tip top position at all times
- Responsible for managing food and beverage services
- Manages membership and registration services
- Handles equipment rentals and sales services
- Handles other relevant indoor playground facility operations
Indoor Playground Safety Instructors / Assistant (5)
- Ensures that children follow lay down safety measures when they make use of our ride – on – toys, bouncy castles and other play facilities available in our indoor playground cum children’s fitness center
- Handles amusement and recreation services
- Handles registration for sports tournaments and matches
- Responsible for handling and giving instruction for services such as meals and beverages, coin-operated games and rides, amateur sports teams and club services, go-karting, batting cages, driving ranges, shooting ranges, kayaking, miniature golf courses, mountain climbing, snowmobiling, sports clubs, teams and leagues et al.
Marketing and Sales Officer (2)
- Identifies, prioritizes, and reaches out to new clients, and business opportunities et al
- Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of projects.
- Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
- Responsible for handling business research, market surveys and feasibility studies for clients
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develops, executes and evaluates new plans for expanding increase sales
- Documents all customer contact and information
- Represents Bellerose Indoor Playground®, LLC in strategic meetings
- Helps to increase sales and growth for Bellerose Indoor Playground®, LLC.
Accountant / Cashier:
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting for the organization
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for Bellerose Indoor Playground®, LLC
- Serves as internal auditor for Bellerose Indoor Playground®, LLC.
Client Service Executive
- Welcomes members and potential members / clients by greeting them in person or on the telephone; answering or directing inquiries.
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the organization’s products and services
- Manages administrative duties assigned by the management in an effective and timely manner
- Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
Cleaners (3):
- Responsible for cleaning in and around the indoor playground facility
- Cleans up after customers and clean work area.
- Washes glassware and utensils after each use.
- Maintains a clean working area by sweeping, vacuuming, dusting, cleaning of glass doors and windows, etc. if required.
- Ensures that toiletries and supplies don’t run out of stock
- Handles any other duty as assigned by the indoor playground facility center manager.
6. SWOT Analysis
Bellerose Indoor Playground®, LLC is in business to provide indoor playground cum children’s fitness facility for families in St. Louis – Missouri and also help our clients achieve their fitness cum fun – filled activities for their children and at the same time to make profits.
We are aware that there is competition in The Children’s Fitness Center Franchises industry which is why we took out time to conduct an effective SWOT Analysis before investing our hard earned money into the business.
We know that if we get things right before starting our indoor playground cum children’s fitness facility, we will not have to struggle before attract loyal clients and building our membership base to a level where we can easily breakeven in record time.
We hired the services of Dr. Emmanuel Bright, a HR and Business consultant with bias in business structuring to help us conduct SWOT analysis for our company and he did a pretty good job for us. Here is a of the result we got from the SWOT analysis that was conducted on behalf of Bellerose Indoor Playground®, LCC;
- Strength:
One of the apparent strengths that will definitely stand as a plus for Bellerose Indoor Playground®, LCC is the fact that our indoor playground cum children’s fitness center facility is centrally located in a densely populated – residential area in St. Louis – Missouri; our location is in fact one of our major strength.
We equally have a team of highly qualified and experienced professionals who will work with children cum all our clients to achieve their aims making use of our indoor playground facility and lastly our gate fee / membership package is going to be one of the best that anybody living in St. Louis – Missouri can get; it is cheap and affordable.
- Weakness:
Before setting up this business, we critically looked into our Business model and we were able to identify two major weakness.
One is the fact that we are a new business and the second is the fact that we may not have the financial resources required to match up with existing indoor playground cum children’s fitness facilities and even government own entertainment and recreation facilities in St. Louis – Missouri when it comes to acquiring latest children entertainment and fitness equipment and also in generating the needed hypes that can drive traffic towards our indoor playground facility.
- Opportunities:
Part of the advantages we have is that, we are centrally located in one of the busiest area and densely populated area with the right demographic composition in St. Louis – Missouri and we are open to all the available opportunities that the city has to offer.
- Threat:
Just like any other business operating in The Children’s Fitness Center Franchises industry, some of the threats that are likely going to confront Bellerose Indoor Playground®, LLC are unfavorable government policies, demographic / social factors, downturn in the economy which is likely going to affect consumers spending and lastly, the emergence of new competitors within the same location where our indoor playground cum children’s fitness center facility is located.
7. MARKET ANALYSIS
- Market Trends
The Children’s Fitness Center Franchises industry is part of the industry that has benefited from recent marketing campaigns which is targeted towards encourage people (children inclusive) to participate in recreation activities and sports, as well as consumer trends toward healthy living.
Going forward, many people who are part of the baby boomers generation are expected to sign up their children for health and fitness club memberships or encourage their children to make use of available indoor playground facilities in their communities. However, patrons of indoor playground cum children’s fitness centers are anticipated to increasingly pick up membership from less expensive facilities as against expensive all-inclusive clubs.
The trend in The Children’s Fitness Center Franchises industry of which the indoor playground facility line of business is a subset of is such that if a facility is well – equipped and positioned in a residential area with the right demographic composition or a place where people can easily access without much stress, there is the likelihood that the indoor playground cum children’s fitness center facility will enjoy high patronage.
Just like in other business ventures, the owners of indoor playground cum children’s fitness center are always looking for ways to increase their market share; they go as far as signing deals with high schools and also religious organizations et al to make use of their facility.
It is a common trend that as indoor playground cum children’s fitness center facility grow, it becomes necessary for them to develop new service offerings or install new facilities that will help them attract more people.
Little wonder some indoor playground cum children’s fitness center facility now has other facilities targeted towards attracting adults / parents. In order words, it is very important for indoor playground and children’s fitness centers to continue to improvise if they want to grow their business and generate their target revenues.
8. Our Target Market
The target market for indoor playground cum children’s fitness center facilities cuts across children and family from different backgrounds. The fact that people visit or register in indoor playground cum children’s fitness center facility for various reasons makes marketing the business interesting.
The target market for indoor playground cum children’s fitness center facility can be categorized into three various groups. The first group are the families who are looking towards creating time for children cum family hangouts and bonding. The other group of people are schools who would want an ideal place to take their students / children to during excursions or playtime et al. The last group of people are religious organizations.
Bellerose Indoor Playground®, LLC will work towards providing services, facilities and environment that will help us reach out to our target market. These are the category of people that we intend marketing our family entertainment center to;
- Households and families with children under the age of 18 in an around St. Louis – Missouri
- Schools
- Churches and Religious centers
Our Competitive Advantage
The Children’s Fitness Center Franchises industry is indeed a prolific and highly competitive industry. Clients will only make use of your indoor playground and children’s fitness center facility if they know that you can successfully help them achieve their goals or provide the enabling environment and facility for their children to catch maximum fun.
Bellerose Indoor Playground®, LLC is centrally located in a densely populated – residential area with the right demographic composition (that is high population of children under age 18) in St. Louis – Missouri; this is obviously going to give us an edge amongst our competitive.
We equally have a team of highly qualified professionals who will work with children cum all our clients to achieve their aims of making use of our indoor playground cum children’s fitness center facility and lastly our gate fee cum membership package is going to be one of the best that anybody living in St. Louis – Missouri can get; it is cheap and affordable.
Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups indoor playground cum children’s fitness center facility businesses in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Bellerose Indoor Playground®, LLC is established with the aim of maximizing profits in the indoor playground line of business cum The Children’s Fitness Center Franchises industry and we are going to go all the way to ensure that we do all it takes to attract both individual clients (families) and corporate clients on a regular basis.
Bellerose Indoor Playground®, LLC will generate income by offering the following services;
- Varieties of ride on toys for children
- Child care services
- Amusement and recreational services
- Ceramic Paintings
- Spas for Children
- Game Dungeons
- Bouncy Castle
- Managing indoor playgrounds and gymnastics centers
- Providing gymnastics instruction
- Providing dance instruction
- Providing swimming instruction
- Providing additional children’s fitness activities instruction
- Other related indoor playground facility operations.
10. Sales Forecast
It is important to state that our sales forecast is based on the data gathered during our feasibility studies and also some of the assumptions readily available on the field.
It would be hard to create a sales forecast with a newly opened businesslike indoor playground and children’s fitness center facility. This is simply because the statistics that will be provided will be on a short term basis.
Experts said that usually a business should be in operation for at least one year before they can generate the statistics that will be need to help in accurate forecasting; statistics should be at least one year old in order to show the trends and pattern in consumer spending.
We expect to welcome a minimum of 12,000 children i.e. one thousand children per month within our first year of operations and then in subsequent year we will grow by 25 percent on more.
Below are the sales projection for Bellerose Indoor Playground®, LCC, it is based on the location of our indoor playground and children’s fitness center facility and the services and products that we will be offering to our clients (members);
- First Fiscal Year-: $200,000
- Second Fiscal Year-: $450,000
- Third Fiscal Year-: $750,000
N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major competitor offering same additional services as we do within 4.5 miles radius from our indoor playground and children’s fitness center facility.
- Marketing Strategy and Sales Strategy
Our
We will leverage on improving on our services and indoor playground facility to ensure that we win new clients and retain old members. At Bellerose Indoor Playground®, LLC, our marketing strategies will be consistent throughout the marketing mix and we will take into consideration product improvement, promotion, and price.
As part of our sales and marketing strategies, we will pay attention to the promotion of our indoor playground and children’s fitness center facility so as to attract families and corporate organizations to enroll and become members of our indoor playground and children’s fitness center.
Our unique selling proposition is that we are well positioned and people can easily access our facility, our prices are affordable and we have a complete package for families, schools and religious organizations. Part of the marketing and sales strategies that we will adopt are;
- Open our indoor playground and children’s fitness center facility with a big party for children that resides in and around St. Louis – Missouri
- Advertise Bellerose Indoor Playground®, LLC on national dailies, local TV stations and local radio station
- Promote our indoor playground and children’s fitness center facility online via our official website and all available social media platforms
- Introduce our indoor playground and children’s fitness center facility by sending introductory letters alongside our brochure to religious organizations, schools, corporate organizations, households and key stake holders in St. Louis – Missouri
- Print out fliers and business cards and strategically drop them in offices, libraries, public facilities and train stations et al.
- Delivering consistent customer experiences to all our members; making our first impression count positively to those making use of our indoor playground and children’s fitness center facility for the first time
- Make use of attractive hand bills to create awareness and also to give direction to our indoor playground and children’s fitness center facility
- Adopt direct mailing coupon marketing approach
- Position our signage / flexi banners at strategic places in and around St. Louis – Missouri
- Create a loyalty plan that will enable us reward our consistent members especially those that registered as a family or groups
- Engage in road shows within our neighborhood to create awareness for our indoor playground and children’s fitness center facility.
11. Publicity and Advertising Strategy
We have been able to work with our branding and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to become the number one choice for both corporate clients and individual clients in the whole of St. Louis – Missouri; which is why we have made provisions for effective publicity and advertisement of our indoor playground and children’s fitness center facility.
Below are the platforms we intend to leverage on to promote and advertise Bellerose Indoor Playground®, LCC;
- Place adverts on both print (community based newspapers and magazines) and electronic media platforms
- Sponsor relevant community based sport events and competitions
- Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our brand
- Install our Bill Boards on strategic locations all around St. Louis – Missouri
- Engage in road show from time to time in targeted neighborhoods
- Distribute our fliers and handbills in target areas
- Contact Families, corporate organizations and schools by calling them up and informing them of Bellerose Indoor Playground®, LLC and the services we offer
- List Bellerose Indoor Playground®, LLC on local directories / yellow pages
- Advertise our indoor playground and children’s fitness center facility in our official website and employ strategies that will help us pull traffic to the site.
- Ensure that all our staff members wear our branded shirts and all our official vehicles are well branded with our corporate logo et al.
12. Our Pricing Strategy
Our pricing system is going to be based on what is obtainable in the industry, we don’t intend to charge more (except for premium and customized services) and we don’t intend to charge less than what our competitors are charging as gate fees or membership fee in St. Louis – Missouri.
Be that as it may, we have put plans in place to offer discount services once in a while and also to reward our loyal customers especially when they refer clients to us or when they register as a family or a religious organization and schools. The prices of our services will be same as what is obtainable in the United States’ open market.
- Payment Options
At Bellerose Indoor Playground®, LLC our payment policy will be all inclusive because we are quite aware that different clients would prefer different payment options as it suits them. Here are the payment options that we will make available to our clients;
- Payment by via bank transfer
- Payment via online bank transfer
- Payment via check
- Payment via bank draft
- Payment via mobile money
- Payment with cash
In view of the above, we have chosen banking platforms that will enable our clients pay us without any difficulty. Our bank account numbers will be made available on our website and promotional materials so that it will be easier for members to pay their membership fees (renew their membership).
13. Startup Expenditure (Budget)
When it comes to setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.
This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.
As for the detailed cost analysis for starting an indoor playground and children’s fitness center facility; it might differ in other countries due to the value of their money. However, this is what it would cost us to set up Bellerose Indoor Playground®, LLC in the United of America; This is the key areas where we will spend our start – up capital on;
- The Total Fee for Registering the Business in the United States of America – $750.
- Legal expenses for obtaining licenses and permits – $1,500.
- Marketing promotion expenses (8,000 flyers at $0.04 per copy) for the total amount of $10,000.
- Cost for hiring Business Consultant – $5,000.
- Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $30,800.
- Cost of accounting software, CRM software and Payroll Software – $3,000
- Cost for leasing facility for the indoor playground and children’s fitness center facility – $250,000.
- Cost for facility remodeling and equipping the facility – $150,000.
- Other start-up expenses including stationery – $1000
- Phone and utility deposits – $3,500
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $100,000
- The cost for Start-up inventory – $15,000
- Cost for acquiring various shapes of bouncy castles, games and children entertainment equipment – $150,000
- The cost for the purchase of furniture and gadgets – $10,000.
- The cost of Launching a Website – $600
- The cost for our grand opening party – $15,000
- Miscellaneous – $15,000
We would need an estimate of $750,000 to successfully launch a standard and well – equipped indoor playground and children’s fitness center facility in St. Louis – Missouri.
It is important to state that the testing and evaluating expenses would be high because of the large amount of equipment needed to start up a bounce house and recreations facility and also the sophistication of the technology used in bouncy castles.
Generating Funding / Startup Capital for Bellerose Indoor Playground®, LLC
Bellerose Indoor Playground®, LLC is a business that will be owned and managed by Mrs. Stacey Jones and her immediate family. They are the sole financial of the business which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.
These are the areas we intend generating our start – up capital;
- Generate part of the start – up capital from personal savings and sale of his stocks
- Generate part of the start – up capital from friends and other extended family members
- Generate a larger chunk of the startup capital from the bank (loan facility).
N.B: We have been able to generate about $250,000 (Personal savings $200,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $500,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
14. Sustainability and Expansion Strategy
The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.
One of our major goals of starting Bellerose Indoor Playground®, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.
We know that one of the ways of gaining approval and winning customers over is to pick up membership in our indoor playground and children’s fitness center facility is to equip our facility with state of the art children fitness and entertainment equipment et al and make our services affordable.
Bellerose Indoor Playground®, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of ten years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List / Milestone
- Business Name Availability Check:>Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Securing Point of Sales (POS) Machines: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Acquiring indoor facility and remodeling the facility: In Progress
- Conducting Feasibility Studies: Completed
- Generating capital from family members: Completed
- Applications for Loan from the bank: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Purchase of the Needed family entertainment, gym and fitness equipment, electronic appliances, office appliances and suppliers: In Progress
- Creating Official Website for the Company: Completed
- Creating Awareness for the business both online and in the neighborhood: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Opening party / launching party planning: In Progress