7-2 Final Project: Business Plan Milestone Seven: Exit Strategy, Executive Summary, Reference List, & The Complete Business Plan Cason Gochee Doctor Conrad June 17, 2023
While the short-term goal for Lightwork is to open the gym and be profitable, there are several other long-term goals that we hope to reach. The first of these goals is to become a well-known brand on top of being a well-known fitness facility. We also have the intention of being able to generously give to our community. While the logistics of this operation are unclear at this time, we do know that we want this to be one of the top priorities of our company. As of right now, Lightwork is not planning to obtain investors. If the need for investors arises, we will reconfigure our budget to reflect the money that we need to repay back to the investor(s). The business plan for Lightwork is to continue building on the apparel company that has already been created. While selling athletic apparel is wonderful, it is not the end goal. The goal for this company is to expand into a gym and fitness facility. While Lightwork will be a place for everyone to work on their well-being in a safe environment, there will be a focus on marketing to Gen Z. This is because Gen Z has a greater focus on physical well- being than previous generations. I am also a part of Gen Z and feel that I am more capable of marketing to my own generation as I understand their values and beliefs. As the fitness industry is growing and booming, the financial forecasts for this gym are favorable. Many people are wanting to get back to working out in a gym setting after being cooped up at home for so long during the Covid-19 pandemic. While the hope is for most of our income to go towards bettering the gym, paying employees, and giving back to others, there will need to be loans paid off as well. The biggest loan that we anticipate having to take out is the loan for the building where the facility will be. This loan will be included in our budget so that we are paying it off in a timely manner.
My business proposal is for an athletic apparel company called Lightwork. The different types and styles of clothes will cater to everyone across the board. The styles will range from short sleeve t-shirts and shorts to hoodies and sweatpants. That way, regardless of the weather outside, we got you covered. The materials will vary between thin, soft, one hundred percent cotton and moister-wicking fabric that will be perfect for working out. Lightwork has a mission to make everyone feel comfortable and confident in their fitness journey. No matter what that looks like. Everyone that is on a path to fitness is not on identical journeys. Some want to become the next best athlete, Olympic medalist, or world's strongest person. Others simply want to better