Rock Climbing Gym Business Plan [Sample Template]

Are you about starting a rock climbing gym? If YES, here’s a complete sample rock climbing gym business plan template & feasibility report you can use for FREE.

Okay, so we have considered all the requirements for starting a rock climbing gym business. We also took it further by analyzing and drafting a sample rock climbing gym marketing plan template backed up by actionable guerrilla marketing ideas for rock climbing gyms. So let’s proceed to the business planning section.

Gym business is gaining more grounds in recent time than it was in the 20th century. People are now more aware of the immeasurable benefits they stand to gain when they enroll in a gym. It is now obvious to the general public that they can stay healthy, improve their lifestyle and live longer if they exercise regularly.

Loads of people enroll in gyms to lose weight, keep fit and catch fun, hence there are always people in your community who will patronize your gym house if it has the type of facility and equipment that will help them achieve their aim of enrolling in a gym.

Beyond the normal gym equipment and swimming activities that attract people to gyms, some people also go to gyms for rock climbing activities. People who go to gym for rock climbing do it for the fun of it, or in preparation for their rock climbing events.

Rock climbing requires some skills and that is why it is necessary to take time out to practice before going out to climb rocks. Of course no individual will just step out to go climb Mount Everest, Mount Kilimanjaro or any Rock without adequate preparations.

If you are interested in the fitness industry and you are looking for a business to do in the industry, you can consider starting your own rock climbing gym house in your community.

Starting a rock climbing gym house business can be capital intensive, but you can be rest assured that you will break even within 2 or 3 years of starting it if you are in a location where people fancy rock climbing.

Below is a sample rock climbing gym business plan template that can help you to successfully write your own with little or no difficulty.

A Sample Rock Climbing Gym Business Plan Template

1. Industry Overview

The climbing walls industry is made up of companies that maintain and operate climbing wall centers or indoor rock climbing centers. Basically, a climbing wall is an artificially constructed wall with grips for hands and feet, and it is typically used for indoor climbing purposes.

If you are conversant with the Indoor Climbing Walls industry in the united states of America, you will notice that the industry slipped during the period of recession but in recent time, the industry has stated experiencing growth boosted by rising per capita disposable income and falling unemployment rates.

With increase in disposable income, decreased unemployment rates over the last five years and customers returning to making discretionary expenditures in place of relatively low-cost recreational activities such as mountaineering, indoor climbing wall establishments have leveraged their growing popularity and increasingly presented high-end offerings.

Going forward, the industry is expected to continue benefiting from rising disposable income and falling unemployment. One of the largest impediments to growth and profitability for the industry was the perceived risk of injury while participating in indoor wall climbing.

The Climbing Walls industry of which the climbing gym line of business is a 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 423 licensed and registered climbing walls gym facilities including those who are into franchising responsible for employing about 7,996 employees and the industry rakes in a whooping sum of $381 million annually with an annual growth rate projected at 3.6 percent. No player in this industry can boast of having a giant market share in this industry.

Recent research published by IBISWorld shows that the Indoor Climbing Walls industry has benefited from steady growth in recent years, recovering from slipping revenue during the recession. The report stated that since the industry relies heavily on consumers, it is highly cyclical and tends to ebb and flow with fluctuations in disposable income.

As per capita disposable income rose to 1.9 percent in 2014 (following a decline the previous year), industry revenue surged to 2.1 percent in the same year.

The report further stated that as economic conditions such as unemployment and disposable income have continued to improve, consumers have increased their participation in indoor wall climbing. To this end, industry revenue is expected to grow at an average annual rate of 3.6 percent to $381.4 million, supported by a 3.4 percent increase in 2016.

In recent times, 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 climbing walls industry continues to enhance their product portfolios to attract children and families, despite their reduced leisure time.

Over and above, starting a climbing gym facility business in the United States of America can be stressful, it requires enough cash to acquire land large enough to accommodate the kind of indoor gym facility that can comfortably attract children cum families and also cash required to equip the indoor gym facility to meet the standard expected by potential users.

2. Executive Summary

Paddy Lighthouse® Rock Climbing Gym, Inc. is a standard and well equipped indoor playground cum climbing gym 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 and families who live in St. Louis and neighboring towns have an indoor rock climbing gym facility for their children to have 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 and adults alike to explore and have fun to the maximum. We have been able to secure a standard indoor facility in a central and easy to spot location in St. Louis – Missouri.

Aside from the fact that our aim of starting the business is to entertain children and keep them physically and mentally fit, we will still go ahead to make available a video game house, bowling alley, BBQ joint, food and drinks court, ice cream shop and enough parking space.

Our aim is to get parents and guardians occupied when they bring their wards to our indoor rock/wall climbing gym facility. We are well equipped to service the whole family cum community as well as visitors and travelers.

Paddy Lighthouse® Rock Climbing Gym, Inc. is going to become the number one children cum family recreation facility in the whole of St. Louis – Missouri and we will work hard to build our indoor wall/rock climbing gym facility to match the needs of the average child under the age of 18 in the community.

Prior to 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 wall/rock climbing facility.

As a matter of fact, our major aim of starting Paddy Lighthouse® Rock Climbing Gym, Inc. is to encourage families in the community to cultivate the habit of regularly taking their kids out to have fun.

Our indoor wall/rock climbing 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 is highly discounted for families that enrolled in our indoor wall/rock climbing facility or churches and schools who would want to regularly make use of indoor wall/rock climbing gym facility.

Paddy Lighthouse® Rock Climbing Gym, Inc. will at all times demonstrate her commitment to sustainability, both individually and as a business by actively participating in our community 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 sustainable approach to earning a living.

Paddy Lighthouse® Rock Climbing Gym, Inc. is a business that is owned and managed by Paddy Lighthouse and his immediate family members. Mr. Paddy Lighthouse has robust experienced in the gym industry and he has a B.Ed. in Physical and Health Education.

3. Our Products and Services

Paddy Lighthouse® Rock Climbing Gym, Inc. is in the indoor wall climbing industry cum indoor playground line of business to provide children’s fitness center, entertainment and recreation facility for residents of St. Louis – Missouri which is why we have been able to put up an indoor rock/wall climbing facility that can help us achieve the goal.

We are optimistic that everyone who makes use of our indoor wall/rock climbing gym facility will definitely derive maximum fun and of course have good value for their money and time. These are the services and amenities that will be made available to our clients in our indoor wall/rock climbing gym facility;

Operating indoor wall climbing centers
Operating indoor rock climbing centers
Operating varieties of ride on toys for children
Child care services
Amusement and recreational services
Managing indoor playgrounds and gymnastics centers
Providing gymnastics 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 wall/rock climbing gym facility and also to contribute our quota in encouraging families in St. Louis – Missouri to actively engage their children in recreational activities.
Our mission for establishing Paddy Lighthouse® Rock Climbing Gym, Inc. is to create a movement in the community that supports total engagement of 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

Paddy Lighthouse® Rock Climbing Gym, Inc. is in business to become the leading indoor wall/rock climbing gym facility in the whole of St. Louis – Missouri and we will ensure that we put the right structure in place that will support the kind of growth that we have in mind while setting up the business.

We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders (the owners, workforce and customers). As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more.

Our business will not be built only for the purpose of giving our members/customers value for their money and time, but we will also ensure that we make our work environment highly conducive for all our employees. We will provide them with employee packages that will help them stay motivated and deliver on their various tasks and goals.

In view of that, we have made provisions for the following positions to be occupied by highly qualified and experienced staff;

Chief Executive Officer – CEO
Indoor Wall/Rock Climbing Gym Facility Manager
Accountant/Cashier
Marketing and Sales Officer
Indoor Climbing 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
Creating, communicating and implementing 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
Creating, communicating and implementing 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
Carrying out staff induction for new team members

Indoor Wall/Rock Climbing Facility Manager

Responsible for operating and managing the indoor wall/rock climbing facility
Ensures that the gym facility is in tip top position at all times
Responsible for managing food and beverage services
Manage membership and registration services
Handles equipment rentals and sales services
Handles other relevant indoor wall/gym facility operations

Indoor Climbing Safety Instructors/Assistant (5)

Ensures that children and adults alike follow laid down safety measures when they make use of our wall and rock climbing facility 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)

Identify, prioritize and reach 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
Writing 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
Develop, execute and evaluate new plans for expanding increase sales
Document all customer contact and information
Represent Paddy Lighthouse® Rock Climbing Gym, Inc. in strategic meetings
Help increase sales and growth for Paddy Lighthouse® Rock Climbing Gym, Inc.

Accountant/Cashier:

Responsible for preparing financial reports, budgets and financial statements for the organization
Provides management 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
Ensuring compliance with taxation legislation
Handles all financial transactions for Paddy Lighthouse® Rock Climbing Gym, Inc.
Serves as internal auditor for Paddy Lighthouse® Rock Climbing Gym, Inc.

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 wall/rock climbing gym facility
Clean up after customers and clean work areas
Wash glassware and utensils after each use
Maintain a clean working area by sweeping, vacuuming, dusting, cleaning of glass doors and windows, etc. if required
Ensure that toiletries and supplies don’t run out of stock
Handle any other duty as assigned by the indoor playground facility center manager.

6. SWOT Analysis

Paddy Lighthouse® Rock Climbing Gym, Inc. is in business to provide indoor wall/rock climbing facility for families in St. Louis – Missouri and also help our clients achieve their fitness cum fun – filled goals for their children and at the same time to make profit.

We are aware that there are competitions in the climbing wall gym 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 wall/rock climbing facility, we will not have to struggle before attract loyal clients and building our membership base to a level where we can easily break even in record time.

We hired the services of Dr. Coleman Douglas, 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 Paddy Lighthouse® Rock Climbing Gym, Inc.

Strength:

One of the apparent strengths that will definitely stand as a plus for Paddy Lighthouse® Rock Climbing Gym, Inc. is the fact that our indoor wall/rock climbing gym facility is centrally located in a densely populated – residential area in St. Louis – Missouri; our location is in fact one of our major strengths.

We equally have a team of highly qualified and experienced professionals who will work with children cum all our clients to achieve their aim of making use of our indoor wall/rock climbing gym 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 weaknesses.

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 rock climbing gym facilities, 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 hype 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 and densely populated areas 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 gym and entertainment industry, some of the threats that are likely going to confront Paddy Lighthouse® Rock Climbing Gym, Inc. 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 wall/rock climbing gym facility is located.

7. MARKET ANALYSIS

Market Trends

The climbing wall industry is part of the industry that has benefited from recent marketing campaigns which is targeted at encouraging people (children inclusive) to participate in recreation activities and sports 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 rock climbing and playground facilities in their communities.

However, patrons of indoor playground cum wall/rock climbing gym facilities are anticipated to increasingly pick up membership from less expensive facilities as against expensive all – inclusive clubs.

The trend in the gym industry of which the indoor wall/rock climbing gym 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 a likelihood that the indoor wall/rock climbing gym facility will enjoy high patronage.

Just like in other business ventures, the owners of indoor wall/gym climbing gym facilities 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 wall/rock climbing gym facilities 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 wall/rock climbing gym facility now have other facilities targeted towards attracting adults/parents. In order words, it is very important for indoor wall/rock climbing gym facilities 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 wall/rock climbing gym facilities cuts across children and families from different backgrounds.

The fact that people visit or register in indoor wall/rock climbing gym facilities for various reasons makes marketing the business interesting. The target market for indoor wall/rock climbing gym 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 groups 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.

Paddy Lighthouse® Rock Climbing Gym, Inc. will work towards providing services, facilities and environment that will help us reach out to our target market. These are the categories 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 wall climbing gym industry is indeed a prolific and highly competitive industry. Clients will only make use of your indoor wall/rock climbing gym 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.

Paddy Lighthouse® Rock Climbing Gym, Inc. 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 competitors.

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 wall/rock climbing gym 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 (startup indoor wall/rock climbing gym 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

Paddy Lighthouse® Rock Climbing Gym, Inc. is established with the aim of maximizing profit in the indoor wall/rock climbing gym facility line of business 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.

Paddy Lighthouse® Rock Climbing Gym, Inc. will generate income by offering the following services;

Operating indoor wall climbing centers
Operating indoor rock climbing centers
Operating varieties of ride on toys for children
Child care services
Amusement and recreational services
Managing indoor playgrounds and gymnastics centers
Providing gymnastics 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 business like indoor wall/rock climbing gym facility.

This is 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 needed to help in accurate forecasting.

Statistics should be at least one year old in order to show the trends and patterns 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 Paddy Lighthouse® Rock Climbing Gym, Inc., it is based on the location of our indoor wall/rock climbing gym 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 wall/rock climbing gym facility.

Marketing Strategy and Sales Strategy

Our marketing strategies will be directed towards achieving specific objectives that support the strategic goals of the organization.

The truth is that all that we do will be geared towards creating new market channels, increasing sales and increasing our market share. We will leverage on improving our services and indoor wall/rock climbing gym facility to ensure that we win new clients and retain old members.

At Paddy Lighthouse® Rock Climbing Gym, Inc., 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 wall/rock climbing gym facility.

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 wall/rock climbing gym facility with a big party for children that reside in and around St. Louis – Missouri
Advertise Paddy Lighthouse® Rock Climbing Gym, Inc. in national dailies, local TV and radio stations
Promote our indoor wall/rock climbing gym facility online via our official website and all available social media platforms
Introduce our indoor wall/rock climbing gym facility by sending introductory letters alongside our brochure to religious organizations, schools, corporate organizations, households and key stakeholders 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 wall/rock climbing gym facility for the first time
Make use of attractive hand bills to create awareness and also to give direction to our indoor wall/rock climbing gym 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 roadshows within our neighborhood to create awareness for our indoor wall/rock climbing gym 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 work 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 wall/rock climbing gym facility.

Below are the platforms we intend to leverage on to promote and advertise Paddy Lighthouse® Rock Climbing Gym, Inc.;

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 billboards in strategic locations all around St. Louis – Missouri
Engage in roadshows 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 Paddy Lighthouse® Rock Climbing Gym, Inc. and the services we offer
List our business in local directories/yellow pages
Advertise our indoor wall/rock climbing gym 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

The payment policy adopted by Paddy Lighthouse® Rock Climbing Gym, Inc., is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Paddy Lighthouse® Rock Climbing Gym, Inc., will make available to her 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 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 wall/rock climbing gym 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 Paddy Lighthouse® Rock Climbing Gym, Inc. in the United of America. These are the key areas where we will spend our start – up capital;

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.
The cost for hiring business consultant – $5,000.
Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $30,800.
The cost of accounting software, CRM software and Payroll Software – $3,000.
The cost for leasing facility for the indoor gym facility – $250,000.
The 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.
The cost for acquiring various shapes of climbing rocks and walls, 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 wall/rock climbing gym 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 an indoor wall/rock climbing gym facility and also the sophistication of the technology used in the business.

Generating Funds/Startup Capital for Paddy Lighthouse® Rock Climbing Gym, Inc.

Paddy Lighthouse® Rock Climbing Gym, Inc. is a business that will be owned and managed by Mr. Paddy Lighthouse and his immediate family members. 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 startup 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 documents have 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 number 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 Paddy Lighthouse® Rock Climbing Gym, Inc. 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 to pick up membership in our indoor wall/rock climbing gym facility is to equip our facility with state of the art children fitness and entertainment equipment and make our services affordable.

Paddy Lighthouse® Rock Climbing Gym, Inc. 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.

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 wall and rock climbing, 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.