This week you will prepare a Cause and Effect Essay (assignment directions are in the Topic 4 Folder). Watch the local news or go online and read news as presented….
Funding Sources and Uses
Our business concept involves creating a state of the art multipurpose indoor sport complex. The goal is to provide access to sport specific training by our certified and competent coaches, for athletes at all levels, from youth to professional. The complex will also provide community amenities such as social events, banquets, and birthday parties. The venue will consist of several floors; each level focusing on a different set of sports. For example, the ground floor will consist of a soccer pitch that can also transform into an indoor track with a specialized Mondo surface. Each floor will come with amenities such as a full sized locker room and shower area, check-in desk, and strength and conditioning facilities. In pursuit of meeting as many needs as possible for our customers, we will provide access to a fine dining restaurant and a space where formal meetings and events can take place. Membership is preferred, however, special arrangements can be made for general public access. This venue is unique and original because it provides a facility and off-season coach to improve technique, training, and strategy within a variety of sports. Wisconsin athletes have a difficult time accessing necessary equipment and quality coaching in off seasons. High school and college coaches have several restrictions as to when they can contact athletes, therefore, our complex provides year round jobs for many certified quality coaches. Our complex also allows young people the opportunity to try a variety of new sports prior to committing to a season long program. Our market consists of athletes of all levels, from inexperienced to professional. The public will find our complex an interesting and fun place to workout and spend time. When it comes to marketing strategies for multi indoor purpose facilities, you have to let the facility market itself. Our target audience will be athletes who want to enhance their athletic ability, through proper strength and sports specific training. What we will be selling is the one individual training time and the use of our facility. The way that we will reach our target audience is with building relationships with coaches, club teams and athletic departments, and hopefully one day some major sponsors. The price that they will pay is based on an hourly rate depending on the training they will receive. There will also be memberships available to the public at the price of 25 dollars a month, as well as the ability to purchase day passes for five dollars. Our team will include certified coaches, trainers, and administrators with a business mindset. We will first look into obtaining government funding and an SBA 504 government loan. Next, we will work with groups such as the Boys and Girls club to see potential in gifts and partnerships to fund areas of the complex. We plan to research and pitch our complex idea to potential investors who believe in our mission and allow for the sale of naming rights to the facility. Finally, the funds we cannot gain through other avenues will be financed through loans. The funds will be put towards rent, renovations, and equipment. Our financial projections will include our income from the restaurant, memberships, and concerts, followed by our expenses of our amenities and running the complex. The multipurpose indoor sport complex will strengthen the community by offering high quality sport training, sporting events, recreation activities, and formal events.
Funding Sources and Uses
– How will you finance your business (creativity counts…and pays off!)
– How will you use your resources
– How will stakeholders benefit from their investment