How to finance a new Pole Fitness studio?

[stephamore07]

I have been doing pole fitness, and aerial acrobatics on/off for 5+ years. I love it!

However, I have to drive a minimum of 45 minutes to another city ( which happens to be in another state (superfluous) to access a studio that offers these services. Ergo the "OFF", in my last 5+ years of going on and off.

So I want to start a studio closer. And I believe it could be her lucrative and financially successful, with a hella lot of hard work, but that's no problem.

So let's discuss location. One of the 2 main reasons I think it is a profitable idea is my location. I live in a fast growing town with a local Navy Base. Navy Base=Navy wives, and want to be navy wife's and/fiancee's. This population of women are the ideal type of clientele. I think that is due to many reasons, age, willingness to accept the risks ( public judgement), desire for a different workout option, benefits of this type of workout area (husband/boyfriend/fiancee leaves on deployment for 3-12 months), women want to prepare for homecoming by having a sexy body and feeling sexy.

The 2nd reason I think it had potential to be a successful venture, is competition. There is none! There isn't one fitness studio locally available for this area.

BARRIERS: MONEY!
The studio would have a high startup cost. Actually a majority of the cost is the startup, the rest of selling my ( and other instructors) time teaching.

I know that is just the tip of the iceberg, but it's the primary reason I cannot get this idea off the ground.
I don't specialize in business, actually I'm a nurse. So I know I'll have to work for awhile until I start getting any profit, which I believe would be 2+ years, based on my research.
I realize that I'll have a million other challenges, and I won't mention them here, I just want to say I'm aware of that.

So, I'm back to square 1! I need someone willing to be silent partner, I need money and I have no idea where to get that. Please don't tell me to go to bank. I don't have that type of credit, really it's just not an option. That's why I'm here.
What are my financing options? How do I find someone willing to invest in this type of business?
I appreciate you help. Please don't be rude. Or just tell me why I CAN'T do it. Or why it wouldn't succeed. There are enough resources out there with negative, but realistic information in that respect. Please, try to keep your responses positive when possible.
Thanks in advance,
L

 

[consul]

@stephamore07 I like your passion, but I can imagine it’s going to hard to get outside funding. Your lack of credit and business experience will be real hurdles in your journey of attracting a partner, unless you can find someone already in the industry to help them mitigate their risks with their experience.

If you find yourself in a pickle getting going: In lieu of starting a retail location immediately is there an opportunity to acquire portable equipment that you could setup at a community center / public library conference room, etc.?

I hope your plans go well and you can open up and follow your dreams, good luck!

 

[vladimir21]

@stephamore07 You really need to write a business plan. This will put together everything that you and your potential investors need to know about what it will cost to start, expand, and maintain the business as well as how long it will take to be profitable. They aren’t easy, but they are necessary. And once you have that you can go to the SBA or other funding sources to try to obtain funding.

 

[stephamore07]

@vladimir21 Yes! Thank you! I've heard about doing this, and ran away! Jk. Actually I plan to do this. I have to research many things first. Also, how to wire one. Also I need to get numbers and facts and objective information in order to write this. It does sound overwhelming, very overwhelming. That said, i don't believe in letting fear be a reason I don't do a thing, whatever it may be. So yes I agree.

 

[stephamore07]

So that said. Does anyone know how to write a business plan, anyone feel like helping me? I need help with all of it. Logistics as well.

 

[stephamore07]

Thank you for your reply. I'm not sure about the mobility option, due to insurance and safety factors. I figured that, about the financing hurdle due to my experience and credit. I've been thinking about this for at least 3 years. It seems to stick with me. So I was thinking, maybe I should stick with IT. thanks

 

[consul]

@stephamore07 Talk to an insurance person, the worst thing they can do is say no or tell you how expensive it’ll be. Don’t let another 3 years slip away! Start now, grind and grow, and you’ll have more than enough experience in 3 years!