HomeMy WebLinkAbout00 - Public Comments - Study SessionConcept Summary:
MT Fitness Studio
1. Personal Background: Blake Hockenbury
a. Lincoln Elementary, Ensign Intermediate, Newport Harbor High School
b. Water Polo & Swimming (Youth, High School, NCAA Champion @ USC)
c. Jr. Lifeguard (5 years), Seasonal Ocean Lifeguard (10 Years)
d. Bachelor's in Business (Entrepreneurship & Real Estate Finance) @ Marshall School of Business
e. Currently Work for Commercial Real Estate Lender in Irvine, CA
f. Local Resident (36`h Street) & CUSTOMER
2. Balboa Peninsula Observations
a. Thousands of UCI /Chapman /OCC Students, Young Mid - Twenties Bachelors, Families (Stay -At -Home
Moms /Dads)
b. Local Focus on Health /Fitness (Boardwalk, Surfing, Beach, Bathing Suits)
c. Lack of Local Fitness Centers (Curl Fitness, Balboa Fitness — Small Scale Gyms)
d. Established NEED for Fitness Studio to Cater to Local Market
3. PierFIT Fitness Studio
a. Spinning and Yoga Classes Primarily
b. Indoor /Outdoor Classes with Sunset Views (Existing Building)
c. Serving Local Fitness NEED /Market
d. Parking: Non -Issue Due to Busiest Exercise Times (Mornings Before Work /School & Nights After
Work /School) & Boardwalk (walk, run, bike)
4. Benefit To Community
a. Serving a Community NEED
b. Encouraging Healthy Living /Exercise Habits
c. Inspiring Local Businesses to Cater to Health /Fitness
d. Capitalizing on Local Attraction (Pier, Beach, Boardwalk, Ocean, Sunsets)
e. Less Competition With Surrounding Businesses & Restaurants
f. Vision For Future Classes /Events (Swims, Paddles, Beach Yoga, Triathlons, Day -Care Class for
Parents During Workouts)
5. Financial Projections
a. Conservative: $1,050,000 Annual Sales
(15 classes /day x 10 ppl /class x $20 /class x 350 days /yr)
b. Best -Case: $2,800,000 Annual Sales
(20 classes /day x 20 ppl /class x $20 /class x 350 days /yr)
c. Rent to City: 7% of Annual Sales
Range $73,500 - $196,000/yr
d. Additional Income from Retails Sales (Gear, Powders, Protein Bars)
e. Tenant Improvements: $100,000 --$150,000
6. Follow -Up
a. Business Plan
b. Community Support (Facebook Page or Petition Signatures /Votes)