Why do we need support? We opened our Boxing Fitness Center (TITLE Boxing Club Rogers) in April 2019.
We offer the best group fitness boxing classes around, we help people get fit, relieve stress, empower them, and build confidence. We have helped many in our community to lose weight, meet new friends, fight against anxiety, and other issues. All while learning a real skill= Boxing.
11 months after opening on March 1st 2020 we were doing great. To open a new franchise location - average cost is approx $235,000.00 We took out a conventional business loan for $195,000.00 and used our home as collateral. Balance owed today is $161,000.00 The pandemic hit and we closed on 3/17/20. We had no choice but to place all memberships on hold. 3 months later after zero revenue collected for the entire 3 months, we were allowed to re open at 25% capacity. We lost 50% of our members due to the fear of Covid 19. We negotiated out of our contract with TITLE Boxing Club and re opened as an independent Boxing Fitness Center named STRIKE Fitness. We operated as best we could through the rest of 2020, until we were locked out again just prior to Thanksgiving. During this time instead of growing each month as we did previously in 2019. We dropped another 25% of our members. We are open now February 18th, at still 25%. We have added a few new members, but we are still down 70% from where we were 12 months ago. We are not making enough to pay rent, our loan payments or our own salaries. We have not collected any pay since March 1st 2020. We need help!
We have a great base of members, we need the fear from the media to stop, in order to get our member base back up. And financially, we need help to catch up and to operate for the next few months, to allow us to re build.
Here is some info on the industry as a whole: More than 6,000 local gyms and fitness studios are closed already by the end of 2020. According to Yelp, more than 6,000 fitness facilities are closed already, and gym owners say they have more than a one in three chance of bankruptcy before spring of 2021 without direct aid. Gym and fitness studio closure rate is 5x restaurants The nation’s gyms and fitness facilities face higher closure rates than other hard-hit industries, like restaurants and bars, according to Yelp. Based on its respective size, the gym industry has a closure rate nearly five times the restaurant industry and one-third higher than the bar/nightclub industry. Two-thirds of gyms owners say current federal programs won’t save them Federal aid like the Paycheck Protection Program (PPP) has failed to help most local gyms and fitness studios because they do not meet their cost structures, which have high fixed costs other than payroll. The gyms that have survived so far are at high risk of closing in coming months The average gym owner says they have more than a one in three chance (36%) of going out of business before the end of 2021 if Congress does not provide meaningful relief.
We want to continue to help people of all walks of life to get healthy, build their immune systems, fight stress, fight weight issues, fight anxiety, empower them, build them up mentally, physically & emotionally! We are good at what we do! I have more than 40 years of martial arts experience, training & teaching.
Here is an article we were featured in: https://www.theepochtimes.com/boxing-club-owner-pushed-to-brink-i-have-nothing-left-to-lose_3659897.html
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