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SummarySherika Fitness is a fitness facility located at 4137 Willow Lake Boulevard in Memphis that has experienced at least a 25% drop in revenue as a result of COVID-19. The facility closed on March 21st. It has seen 50% of its Memberships concelled and net operating losses of $7,550.
Stabilization and Recovery Plan:
• Began virtual fitness training to existing clients 3/24
• Facility re-opened 5/11 to limited attendance
• Market and promote virtual fitness program to new clients
• Invested in training program and additional fitness equipment for retail sales
NEED Grant proceeds to cover revenue shortfalls, purchase equipment, additional marketing/promotion costs.
Projected Total Jobs:
Sherika Fitness4137 Willow Lake Blvd. , Memphis, TN 38118