Our Business Plan
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Busy college students often face the problem of having too much to carry. With multiple bags in tow, it's
inconvenient and uncomfortable to go about daily life. Many gym bags today are not designed with convenience
in mind. But Stratagym is different.
Our company mission is to empower individuals who lead an active and busy lifestyle by providing an
affordable and convenient solution for carrying gym and other essentials, all while transitioning from the
class to the gym.
Products and Services
Our flagship product, Stratagym, is a durable and lightweight attachable gym bag that can be easily
hooked onto any backpack or tote bag. It has multiple compartments to store gym essentials such as a
water bottle, towel, change of clothes, and personal belongings such as a phone or wallet. It is made of
high-quality materials such as waterproof nylon and durable zippers, making it suitable for everyday
use. We plan to expand our product line in the future to include other gym-related accessories such as
workout gloves, sweatbands, and fitness trackers.
The value proposition of this product is the convenience it offers to students who want to carry their gym essentials without having to carry a separate bag. This convenience can save time, energy, and hassle, especially for those who lead busy lives or have limited space in their backpacks. Paris 'N Friends Co.'s competitive advantage lies in the fact that they do not directly compete with other bag companies, but rather offer an add-on that forms a symbiotic relationship with a preexisting bag. The inventory requirements for this product include lockers, fabric materials, and sewing machines. Currently, the company is in its introductory phase and is focused on R&D activities such as research, design, and creation stages. They also plan to secure IP rights through a patent and a design and interview process, as well as establish a logo and branding strategy.
The value proposition of this product is the convenience it offers to students who want to carry their gym essentials without having to carry a separate bag. This convenience can save time, energy, and hassle, especially for those who lead busy lives or have limited space in their backpacks. Paris 'N Friends Co.'s competitive advantage lies in the fact that they do not directly compete with other bag companies, but rather offer an add-on that forms a symbiotic relationship with a preexisting bag. The inventory requirements for this product include lockers, fabric materials, and sewing machines. Currently, the company is in its introductory phase and is focused on R&D activities such as research, design, and creation stages. They also plan to secure IP rights through a patent and a design and interview process, as well as establish a logo and branding strategy.
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Marketplace: First, let's dive into our competitors and target market.
Competitors
Holdable gym bags:
Gym duffel Attachable gym bags: Vamose
Gym/work bags:
Aer Fit Pack
Aer Duffel Pack
Z Packs Add-Ons
Target Market
We estimate that our target market of young adults (college and high school students) who regularly go to
the gym or participate in sports represents at least 10% of the overall fitness industry. This translates to
a Total Attainable Market size of $9.6 billion in 2023. Assuming we capture even 1% of this market, our
revenue from the Service Obtainable Market in 2023 would be approximately $96 million, expecting an average
product price of $30. As we grow our brand and expand our market reach, we expect to capture a higher
percentage of the market and increase our revenue accordingly.
The University of Southern California presents an excellent starting point for Paris 'N Friends Co. to introduce Stratagym to a large and receptive market. With a student population of approximately 49,000, the USC community is known for its strong emphasis on academics, athletics, and overall wellness. Many students are actively involved in fitness-related activities, whether it be hitting the gym, participating in sports, or taking part in fitness classes. As students, we are uniquely positioned to connect with our peers and develop targeted marketing strategies that effectively communicate the benefits of Stratagym. By working closely with the USC community, we believe that we can establish a strong brand presence and expand our reach to other audiences across the country.
tl;dr Market Niche
Students who frequent the gym during the day but do not have time to run back to their dorms/apartments to put their gym bag away between classes.
Marketing and Sales Strategy
We plan to leverage social media platforms such as Instagram and TikTok to target our young audience.
Influencer marketing will potentially play a significant role in our marketing strategy, as we further
consider partnering with fitness influencers and college students with a strong social media presence.
We will also attend college fairs and sports events to promote our product and interact with potential
customers. We will offer seasonal discounts and referral programs to encourage customer loyalty and
increase our customer base.
In addition to leveraging social media and attending college fairs, we conducted a robust survey to test the market's interest in our product. The survey consisted of a set of questions related to gym habits, current gym bag usage, and interest in an attachable gym bag. Based on the results, we found that a significant percentage of students were interested in using an attachable gym bag, and the feedback we received was overwhelmingly positive.
To further validate our findings and connect with potential customers, we plan to conduct an in-person product pitch at the USC Lyon Center and USC Village Gym. This will give us the opportunity to interact with our target market, gather feedback, and make sales. We believe that this direct approach will be an effective way to build brand awareness and establish a loyal customer base. We will also use this opportunity to gather insights into our target market's preferences, which will inform future product development and marketing strategies.
We believe that Stratagym is a disruptive innovation within the multi-function carrying apparatus (bags) market, and we are pursuing a design patent to protect our product. A design patent will give us exclusive rights to our product's unique design and prevent competitors from replicating it. This will be crucial in establishing Stratagym as the most competitive product in terms of price-to-performance and distinctive brand in the gym bag market.
Furthermore, we plan to establish strategic partnerships with gyms and fitness centers to expand our reach and build brand recognition. Our goal is to collaborate with establishments that share our values and cater to our target market. We are also pursuing discussions with the USC Bookstore to sell Stratagym as a point of sale. The USC Bookstore has a high footfall of students and will give us an excellent opportunity to make sales and reach our target market. We are also exploring the possibility of partnering with other universities and colleges to expand our market reach beyond the USC community.
In summary, we believe that Stratagym has significant market potential, and we have a robust marketing and sales strategy in place to capitalize on this potential. By pursuing a design patent, establishing strategic partnerships, and exploring potential high-value points of sale, we are confident that we can make Stratagym a success in the multi-function carrying apparatus (bags) gym bag market.
In addition to leveraging social media and attending college fairs, we conducted a robust survey to test the market's interest in our product. The survey consisted of a set of questions related to gym habits, current gym bag usage, and interest in an attachable gym bag. Based on the results, we found that a significant percentage of students were interested in using an attachable gym bag, and the feedback we received was overwhelmingly positive.
To further validate our findings and connect with potential customers, we plan to conduct an in-person product pitch at the USC Lyon Center and USC Village Gym. This will give us the opportunity to interact with our target market, gather feedback, and make sales. We believe that this direct approach will be an effective way to build brand awareness and establish a loyal customer base. We will also use this opportunity to gather insights into our target market's preferences, which will inform future product development and marketing strategies.
We believe that Stratagym is a disruptive innovation within the multi-function carrying apparatus (bags) market, and we are pursuing a design patent to protect our product. A design patent will give us exclusive rights to our product's unique design and prevent competitors from replicating it. This will be crucial in establishing Stratagym as the most competitive product in terms of price-to-performance and distinctive brand in the gym bag market.
Furthermore, we plan to establish strategic partnerships with gyms and fitness centers to expand our reach and build brand recognition. Our goal is to collaborate with establishments that share our values and cater to our target market. We are also pursuing discussions with the USC Bookstore to sell Stratagym as a point of sale. The USC Bookstore has a high footfall of students and will give us an excellent opportunity to make sales and reach our target market. We are also exploring the possibility of partnering with other universities and colleges to expand our market reach beyond the USC community.
In summary, we believe that Stratagym has significant market potential, and we have a robust marketing and sales strategy in place to capitalize on this potential. By pursuing a design patent, establishing strategic partnerships, and exploring potential high-value points of sale, we are confident that we can make Stratagym a success in the multi-function carrying apparatus (bags) gym bag market.
$50,000
We are seeking seed funding of $50k to help launch and cover initial startup costs, including product development, manufacturing, marketing, website support and maintenance, and personnel expenses. The financial projections provided suggest that the business expects to generate $60,795 in total revenue for the year, with a total profit of $52,145.58.
Executive Summary
Paris 'N Friends Co.'s Stratagym is a new product designed to address a significant pain point in the fitness industry. The flagship product is a durable and lightweight attachable gym bag that can be easily hooked onto any backpack or tote bag. It has multiple compartments to store gym essentials such as a water bottle, towel, change of clothes, and personal belongings such as a phone or wallet. The product is made of high-quality materials such as waterproof nylon and durable zippers, making it suitable for everyday use.
The company plans to introduce Stratagym to a receptive market at the University of Southern California, with a student population of approximately 49,000 known for its strong emphasis on academics, athletics, and overall wellness. Many students are actively involved in fitness-related activities, whether it be hitting the gym, participating in sports, or taking part in fitness classes. According to a recent study conducted by the National Intramural-Recreational Sports Association (NIRSA), approximately 87% of college students reported engaging in regular physical activity.
The target market of young adults (college and high school students) who regularly go to the gym or participate in sports represents at least 10% of the overall fitness industry, translating to a Total Attainable Market size of $9.6 billion in 2023. Assuming the capture of even 1% of this market, the projected revenue from the Service Obtainable Market in 2023 would be approximately $96 million, expecting an average product price of $30.
In conclusion, Stratagym offers a promising investment opportunity, with the potential to revolutionize the way people think about carrying their gym essentials and make fitness more accessible for students. With its innovative product, receptive market, and experienced team, Paris 'N Friends Co.'s Stratagym has the potential to become a leader in the fitness industry.