|Current Status||Concept / Business Plan|
|Funding Required||RM600,001 to RM1,000,000|
|Description||I am a national karate athlete and a Malaysian MMA champion. I’ve literally grew up around sportsmen and sports as a whole. Today at 26, I’ve loked high and low for a performance-based gym space for me to workout but I can never find one. All we have in KL are the likes of Fitness First and such, with extremely high end prices and simply basic space (hundreds of machines), or the really low cost RM 5 gyms that serve the same purpose, bodybuilding.
In the National Sports Council where I train, we have a gym built for athletes, complete with everything that a performance minded athlete requires. Its not open to the public though.
|Business Opportunity||Like I said above, the problem is that when I have gone out looking for a place to train, I have to make do with the measly equipment around me.
You might say that people in Malaysia are simply not like that, that most of us are oblivious when it comes to things like this. But I’ve been in this scene for the better part of my life, and there are so many people who would profit from something like this.
Especially in the market today! Everyone is concerned about healthy living and such. Working out has become such a fad, compared to say even 10 years ago. Being a personal trainer, I’ve had all kinds of clients, from kids to old men to stay-at-home moms who want to get fit simply because that what people talk about nowadays.
|Revenue / Business Model||My biggest thing is that ill be different from the others. Take a business like Flycycle, the offered something different to the public and they succeeded in making returns. Just like that, offering a different kind of gym space and classes purely training with the resistance band would be sure to turn some heads.
Also locating somewhere near Bukit Jalil would mean we would attract a whole lot of athletes as well, but this is still in planning. Im still looking at other places like Damansara and Solaris Dutamas. But venue will be a solid way that we could make money from.
The appearance! Sometimes gyms just serve their purpose, some equipment and that’s it. Although I’m all for it, from a business point of view, its gonna be how it looks to the outside world. With all my contacts in the sporting industry, I can be sure to make the gym look really good and appealing, like the front of a Nike Concept store I might add. Aren’t we all really tempted to at least take a peek.
|Management Team||There is no management team to speak of. I do however have a few names in mind that would be able to help with the management of the gym. Being with the national karate team, Im constantly surrounded by athletes and management staff and have already bounced countless ideas off of them.|
|Company Background||This a brand new venture. Coming from personal training, I think this is the next logical step.|
|Funding Milestone||Rm600,000 to RM 1,000,000.
The funds will be used to, first and foremost rent a space. After which will be renovation and buying the equipment to fill it up. For a small gym, equipment cant reach the RM100,000 mark. So for the plan that I have in mind I’m looking to even triple that figure.
I expect to be up and running by mid to the third quarter of next year, should everything go according to plan.
Websites and social media planning as well.
|% Equity Allocation||10%-15%|
|Expected ROI||ROI about 40%-50% in 5 to 7 years.|
|Risks and Mitigation||Risks are that there are many gyms in the Klang Valley. Advertising will have to be strong to get it through to the public.|
|Exit Strategies||Selling. That, is in my mind the safest and easiest way to exit.|
|Contact Person||Theebaan Govindasamy|