Henry Phan

Course: Principles of Management and Intro. to Entrepreneurship, MGMT-201 and BUAD-230
Professor: Tom Mazerski
Assignment Title: Bouldering Basics: A Plan for a Modern Climbing Gym

Assignment Details

My project is about developing a business plan for an indoor bouldering gym that promotes a healthy and active outdoor lifestyle. The main question I’ve been exploring is: how can I create a gym that not only appeals to climbers of all levels but also encourages a deeper connection to the outdoor world and promotes a sense of community? I’ve done a lot of research to understand the climbing gym market, target demographics, and competitors, all while trying to figure out how to differentiate my gym from others. Many climbing gyms focus purely on the sport, but I want mine to go further by embracing outdoor culture, sustainability, and community-building.

I’ve been looking into what types of services and amenities would appeal to a wide range of climbers, from beginners to more experienced athletes. For example, should I offer specialized classes, or should there be different levels of difficulty for climbing walls? How can I incorporate outdoor adventure into the gym environment, like offering guided climbing trips or sustainability programs? I’ve also been exploring how the gym could foster a sense of community among climbers, not just through climbing but through social events, outdoor initiatives, and maybe even outreach programs. The business plan includes a section on marketing strategies to attract the right customers—those who are interested not only in climbing but also in an active, healthy lifestyle. I’ve also been working on a financial plan, estimating costs, setting revenue targets, and figuring out how I can fund the startup costs to get the gym up and running.

Application

The topic of my assignment connects directly to both my passion for rock climbing and my studies in entrepreneurship. I’ve been passionate about climbing and outdoor activities for as long as I can remember, and this project gives me a chance to combine my personal interests with what I’m learning in my BUAD-230 class. In this course, we’re learning how to develop comprehensive business plans, which has provided me with a solid foundation to turn my vision for an indoor bouldering gym into a business. Through this project, I’m able to explore how to take a concept that’s meaningful to me and make it something people will be excited about.

The more I’ve climbed, the more I’ve realized how much it means to me not only as a physical activity but as a way to connect with nature and meet new people. I want to bring that same experience to others, and this gym project is the perfect opportunity to create a space that promotes a healthy, active lifestyle. It’s not just about offering climbing walls but also about creating an environment that encourages people to embrace the outdoor lifestyle. I want the gym to be a place where individuals can come together, stay fit, and build a sense of community, all while fostering a deeper connection to the outdoors. It’s about sharing the outdoor experience in a way that’s accessible and engaging, even for people who may not always have the chance to climb outside.

In terms of my studies, this project really ties into the entrepreneurial skills I’m developing in BUAD-230. I’m learning how to research markets, create business models, and develop marketing strategies, which are all things I need to think about when turning my gym idea into something real. This assignment allows me to apply what I’m learning in class to a real-world business concept that reflects my personal interests. The more I dive into the project, the more excited I get about the possibilities of combining entrepreneurship with my passion for climbing and the outdoors.

Results/Conclusions

I’ve learned a lot from working on this project, especially about the importance of community and connection in a business. It’s not just about offering a product or service; it’s about creating an experience that people want to be a part of. From my research, I’ve realized that a climbing gym can stand out by offering more than just great climbing walls. By focusing on creating a space that promotes a healthy lifestyle, outdoor adventure, and sustainability, I can attract customers who not only want to climb but who also want to be part of a larger movement that values fitness, nature, and community.

I also learned that financial planning is more complicated than I initially thought. It’s critical to have realistic projections and an understanding of startup costs, funding, and potential revenue. This project has taught me how important it is to balance my passion with practical business strategies to ensure that my vision becomes a reality. Overall, I’ve developed a clearer understanding of how to combine my love for rock climbing and the outdoors with my entrepreneurial ambitions, and I’m excited to continue developing this business idea.

Challenges and Successes

One of the biggest challenges I’ve faced so far is figuring out how to set my gym apart from others. There are a lot of climbing gyms out there, but most of them focus mainly on the sport itself. I want to build something different—something that brings outdoor culture into the gym. So, I’ve had to get creative with how to design the gym, from the types of services offered to the overall vibe of the place. I want to make sure it’s not just a gym where people climb, but a space where people feel a sense of community and connection to nature.

Another challenge has been working through the financial projections. It’s tough to predict how much money I’ll need and what the revenue will look like in the first few years, especially since there are so many factors like location, pricing strategies, and market competition that can affect profitability. There are a lot of unknowns, so I’ve been relying on data from similar businesses and doing my best to estimate startup costs, ongoing expenses, and potential revenue. It’s also been challenging to balance this project with my other coursework. Managing my time between this assignment, other class projects, and personal commitments has taught me a lot about time management, and I’m grateful for the chance to practice those skills.