“The Pad” – Santa Maria, CA!
What: SLO Op Climbing is a 501c7 non-profit social club dedicated to maintenance of a gym in San Luis Obispo and to the greater interests of the local climbing community. On 9/4/14, our board voted unanimously to increase our community to include Santa Maria, CA and the surrounding areas by installing a second gym location, to be called “The Pad.”
Where: “A” Street in South Santa Maria approaching Orcutt in an established business park. We are in discussions with the realtor currently about options for move in and with the city planning department about use in that location.
When: We project the gym will open in February should all use permits, engineering, paperwork, and investments come together.
Why: SLO Op has grown by leaps and bounds and we are proud of our service to the community. Many Northern Santa Barbara county residents are making the trek to the gym, and there is a large population that has not had the benefit of the kind of services and facilities that SLO Op maintains. By bringing “The Pad” to Santa Maria, we hope to give a new demographic (consisting of families and young professionals) the opportunity to pursue a healthy pastime and be a part of a cohesive community in an area with very few competing options.
How: “The Pad” will become a second wing of SLO Op Climbing – SLO Op’s board, crew, and staff will oversee the gym’s development while developing a local staff and volunteer corps that supports our programs and facility. The gym will initially be staffed during proposed hours of 10-10 pm, but we are looking into 24-7 access options as well. The concern is that the demographic geography of the area is a bit different and we will need to have higher security protocols that we are exploring. We would ideally provide services like workout room, kids’ programs, after school programs, camps, team building, yoga, and – yes – birthday parties at this new facility over time, building in stages as we did with SLO Op.
How will this affect SLO OP? It shouldn’t. Our staff is committed to helping it succeed on its own. Our loans and expenses will be secured through SLO Op’s current cash flow which is more than enough to ensure non-failure of both gyms should The Pad falter in the growth we project for it. We are doing a round of fundraising that is independent of SLO Op’s current assets and cashflow and intend to track the finances separately, making each gym independently viable.
How will this affect SLO Opers? We think in only good ways: you will have a reciprocal membership with both gyms when you have a membership with one – road trip to the new location or stay close to home. New people to meet, new places to train and explore, and we’ll be doing hold trades and such to keep both gyms fresh and awesome.
But SLO Op is pretty busy at times now, why not expand here? Property in Santa Maria is about half what it is in SLO. We are confident that we can expand there with positive results, while we are not yet in a situation to expand the current gym. The net result of two profitable gyms is a financial reserve that allows us to expand to a cooler facility in a few years here in SLO. By working together, we can keep growing into sheer SLO OP AWESOME!
Great – how can I help?
We are funding this the same way we did last time – we feel it’s a wonderful way to build trust in the community and investment from our climbers and we think we can do it with your help.
The gym needs about $300,000 to get built and have operating expenses for three months prior to getting our membership numbers where they need to be. We are offering a few options to people ready to help us grow:
Donations up to $2000 = our sincerest gratitude
Donations of $2001-5000 = lifetime membership to SLO Op climbing gyms for your family (you, your significant other, any current or future kids)
Loans of $5001-10,000 = lifetime membership + prime rate interest (3.25% currently) with the debt matured after 9 months, amortized over three years (paid off) of monthly payments made electronically. This basically means that if you need a buyout, we will honor it, though we would like you to expect a 3 year amortization. Plus, your name on a plaque in the new facility and much respect.
Loans of $10,001+ = lifetime membership + prime rate interest + 3 % (6.25% at this time) under the same conditions above. Plus, your name on a plaque in the new facility and much respect.
Don’t have money? That’s okay – you can help by spreading the word and we are sure to need help physically building the gym when the time comes. Help us spread the love of SLO Op today! If you are interested, please let us know how much you would like to donate/invest and we will prepare the necessary documents.
- We need funds no later than December 15th as our build out is scheduled to start in January.
- We ask the loan amount be committed to by October 1st so we have enough time to know what we have to work with.
- Repayment will start one month after we open the doors, opening is scheduled for the beginning of February.
- Your loan will be paid back in monthly installments over 3 years.
Please email Yishai@slo-opclimbing.org or call 805 720 1245 to discuss any questions or interest you have.
Breakeven occurs at 459 members. Conservative numbers show us hitting that within five months of opening. Part of the startup costs listed below include fixed monthly expenses for three months to cover our negative period. All of these numbers are subject to change (hence the contingency)
|Itemized Startup Costs||$130,740|
|Interior/lease hold improvements||$5,000|
|Promotion for opening (including advertising)||$1,000|
|Cash Balance on Starting Date||$0.00|
|2 months expenses||$54,500.00|
|Total Expected Expenses:||$275,790.00|
|Contingency Funds: (20% of Total Expected Expenses)||$55,158.00|
|Total Capital Necessary:||$330,948.00|
Fixed monthly expenses:
|Non Profit Management||$2,000.00|
|Repayment of Loan (36 months)||$9,767.56|