Venture Concept No.1

Opportunity 
The opportunity for my business venture comes from the growth of the gym industry. Gyms are popping up in every city and are usually full of members. This opportunity has been growing because of the social media craze of being healthy and fit. Many gym members are heading to the gym to get that nice body ready for the summer or they are going to the gym to get healthy and live a better life. Either way people are going to the gym at a higher rate then ever and it is a good time to open up a gym. From statsticbrain.com, they state that over 50 million people have gym memberships and they are over 30,000 gyms in the US. Florida is a great place to have a gym because of the warm weather and culture around the gym. Naples and Sarasota are in the top 5 cities that spend the most on gym memberships. That just goes to show the popularity and demand of gyms. Additionally, renewable energy is also in demand as we are trying to transition into a more eco-friendly society. My idea with renewable energy by using the motion of gym equipment will also satisfy this need. This idea would be great to start in Florida because of the many local markets I can place my gym in and the unique idea of my gym will bring in members. Gym members are easy to attract and the members remain relatively loyal. In one of my interviews, I learned that gyms have been expanding locations and thriving because of the automatic bank transfers for the membership every month. It has become so easy for members to sign up and the money just comes straight out of their bank account every month so they don't have to worry about paying it on time. This also helps gyms keep members because they are already paying for the membership and don't feel like canceling it. Another statistic from the website is 67% of gym members don't go to the gym. That shows how they are willing to pay for a service they don't use. Finally, this is a big opportunity because of the positive benefits from having a eco-gym. Members will be producing energy for the gym saving the gym money on bills and also helping our planet. It will be the foundation for other gyms and possible much more in the future.

Innovation 
I would consider my idea radically innovative because it isn't widely known and only a few people have done it. My idea is putting renewable energy in a different context and will change gyms if it works. I plan to develop a way to make a pulley/turbine from the machines in the gym. It has been can be done with ellipticals, treadmills, and I want to develop technology make weights produce energy by harnessing the kinetic energy. This idea sounds farfetched but think of the flash light that can produce energy when you shake it. It could be used in weights and hundreds of people use that weight everyday. One just has to extract that energy. Finally, I would place solar panels on the building to make the gym more eco-friendly.

Venture Concept
Why will people want to go to my gym? Well, I would make it a gym that can target many type of gym goers. Most of the free weight lifting will be the younger crowd so I would gear the room to be more up beat and have music like EDM, hip hop, and rap. Other rooms like the ellipticals and treadmill will have a more relax theme around them. Another reason people will want to go to my gym because it will make them feel they are helping our environment. There is only one other company that is using this idea but I want to establish one in Florida. There are many gyms in Florida already but there isn't a eco-friendly gym so I would have the advantage in that aspect. To make people switch I will offer plans that beat the rates of other gyms by having incentives and other rewards for making energy at the gym. Most gym plans have a standard monthly payment but by having rewards it will make members want to go to the gym more. Thus, produce more energy for the gym. The gym will still make money if some of the members were paying low rates for their membership because of the percentage of people who hardly ever go or don't go at all.

Minor Elements
1. What are my most important aspects of the company.
To make the gym different it will be able to produce energy for itself and the plans I offer to customers will allow the customer to customize the plan. For people that go to the gym a lot I will offer them a lower plan and those who don't go often will pay a low monthly few and pay a small fee every time they go to the gym. These plans can change every 6 months and will make the customer feel more in control of their gym plan rather than the regular $10 or $20 a month.
2. Once I establish one gym the next step is to open up more and then eventually promote the idea of renewable gym energy so all gyms can have it.
3. After five years, I might sell the business or have someone else manage it so I will have time to create other business.
How can I make this happen?
1. I will do research on gym equipment to harness kinetic energy.
2. Produce/purchase the equipment to test
3. Get loan to start the gym
4. Hire employees
I made these simple four steps to start my venture. Although, it might not be easy having this plan will give me a framework on how to make it happen and allow me to expand my vision and test my entrepreneur thinking!
Thanks for reading. Feel free to input your thoughts below.