Talking to Karen Jashinsky is like getting a shot of enthusiasm
in the arm. This 28-year-old MBA student at the University of
Southern California in Los Angeles is immersed in the very early
stages of launching a gym and hangout spot for teens. Fueled by
passion and hard work, Jashinsky feels optimistic about the coming
year-and so do we. In fact, we decided to take a front seat and
follow her as she brings her startup dreams to brick-and-mortar
reality. We'll be checking in periodically, so don't miss
our updates in future issues.
After working as a personal trainer for three years, Jashinsky
knew she wanted to start a business in the fitness industry. She
decided to target her gym and lounge idea toward teens after
working with parents who asked her to train their kids. "I was
observing teens going to the gym, not really knowing what they were
doing, just going to socialize with their friends," she says.
"So I started training teens individually, and [then] pairing
them up, and [I] noticed they responded very well. It became kind
of fun because they had someone they were [working out]
with."
Armed with a fresh idea, as well as input from local teens about
exactly what they wanted in a gym/lounge/cafe, Jashinsky entered
her university's business-plan contest and landed in the top
10. Though she didn't win, she's well on her way to opening
her doors in July 2006, soon after graduation. Currently, she's
hoping to secure funding for her yet-to-be-named business.
She's also looking to partner with someone who has a strong
background in the fitness industry.
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On the funding front, Jashinsky plans to bankroll about
one-third of the $500,000 total startup budget herself, with money
from savings, investments, family contributions and the like. She
also recently met with an SBA counselor to discuss avenues for
getting more money. "The SBA loved the idea," she says.
"And as it gets closer [to opening], they said they'd help
me present to banks to get financing." Additionally, she plans
to apply for a small-business loan from the Jewish Free Loan
Association.
It's safe to say Jashinsky has a lot on her plate right now.
"Everything's constantly changing," she says.
"The business plan is done, and you think of another idea, and
you have to go back and change it." Next, Jashinsky expects to
build a website and plan the grand-opening weekend festivities,
which will feature fitness classes and live music to really entice
local teens to join the club.
Finalizing her real estate location is another priority-at press
time, she had her eye on the La Cienega-Robertson area of Los
Angeles. And as busy as she is, Jashinsky sees nothing but
possibilities on the horizon. "As it gets closer to reality,
there are so many things that need to be done-and I'm keeping
my eyes open for the right people [to partner with]." Will
Jashinsky achieve all that and more? Find out in March 2006's
"Biz 101" column.