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Building the Future of Youth Baseball & Softball
Membership
Gamified Training
Youth Development
Experiential Retail
Confidential
Business Plan
Overfly Sports Academy
Business Plan
Confidential | April 2026
Prepared by: Alex Villarreal, CEO
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Table of Contents
Executive Summary
Executive Summary
Overfly Sports Academy (also operating as TheBaseballClub.org and TheSoftballClub.org) is a membership-based youth baseball and softball training platform backed by an MLB-certified equipment manufacturing business already generating proven annual revenue. The platform targets 9M–12M youth players across the U.S. and Mexico within a $10B–$20B underserved market. Each academy combines affordable memberships (~$50/month), gamified HitTrax training, professional coaching, and experiential retail in high-foot-traffic mall locations. We are raising $2.5M total across two phases — Phase 1: $400K for 15% equity, and Phase 2: $2.1M for ~25% — with a 5-year projected platform revenue of $18M–$26M. At a $60M exit valuation, Phase 1 investors are projected to realize a 16.9x MOIC and 76% IRR.
$3.55M
Year 1 Platform Revenue
$18M–$26M
Year 5 Revenue Range
16.9x
Phase 1 MOIC
76%
5-Year IRR
Established Foundation
Backed by an MLB-certified equipment business, providing a solid revenue base and industry credibility from day one.
Massive Market
Targeting 9M–12M youth players in a $10B–$20B underserved market across the U.S. and Mexico.
Scalable Model
Combines affordable monthly memberships, gamified training, professional coaching, and experiential retail for rapid expansion.
Company Overview
Company Overview & Mission
Overfly Sports is an innovative, vertically integrated sports platform established by founder Alex Villarreal. Its robust foundation is an MLB-certified bat and equipment manufacturing business, boasting proven existing annual revenue and strong industry credibility. Building on this success, Overfly Sports Academy represents the next strategic evolution: a membership-based training facility model meticulously designed to serve the often-underserved youth baseball and softball athletes across the U.S. and Mexico.
Mission Statement
To make elite baseball and softball training accessible and affordable for every youth athlete, regardless of economic background, fostering a love for the game and empowering them to reach their full potential.
Vision
To become the leading youth sports development platform in North America, known for its innovative training methodologies, community impact, and commitment to player growth.
Core Values
Access
Democratizing high-quality training facilities and resources for all young athletes.
Affordability
Ensuring financial barriers do not prevent passionate players from pursuing their athletic dreams.
Development
Nurturing athletic skill, character, and leadership through expert coaching and innovative programs.
Community
Building a supportive environment where athletes, families, and coaches connect and thrive.
Operational Details
Overfly Sports operates as an LLC, with plans for incorporation as the platform scales. Our headquarters location will be strategically determined based on the successful establishment of our first training facility. The company was founded in 2026.
Market Analysis
The Problem & Market Opportunity
Youth baseball and softball, once accessible to all, now faces significant challenges. Costs have skyrocketed, with the average family spending an astonishing $2,000–$10,000+ per year on travel ball alone. This exorbitant pricing actively excludes millions of passionate families, leading to a critical issue: 70% of children abandon organized sports by age 13, largely due to financial barriers and lack of access to quality training.
Despite this, a massive $10B–$20B youth sports market exists, serving 9M–12M active players across the U.S. and Mexico. This vast demographic remains critically underserved, with a glaring absence of affordable, professional, and membership-based training solutions. Latino youth athletes, the fastest-growing demographic in baseball, are particularly neglected within this landscape. Furthermore, high-foot-traffic mall locations represent an untapped opportunity, currently underutilized for sports retail and training facilities that could address this market gap.
$10-20B
Market Size
9-12M
Youth Players
70%
Dropout Rate by Age 13
$2-10K+
Annual Family Spend on Travel Ball
Annual Cost: Traditional vs. Overfly
Youth Sports Market Share
The Solution
The Solution — Overfly Sports Academy
Overfly Sports Academy is a groundbreaking membership-based sports academy designed to revolutionize youth baseball and softball training. Strategically located in high-foot-traffic mall locations, our model offers a comprehensive package to address current market gaps. Our affordable membership, priced at just ~$50/month, unlocks access to state-of-the-art facilities, professional coaching, and significant equipment discounts (50% off all MLB-certified gear). We leverage cutting-edge gamified HitTrax training technology to provide engaging, data-driven sessions, allowing athletes to track and improve their performance measurably.
The academy features a progressive structure with three distinct membership tiers (Beginner, Development, Elite), culminating in an Exposure pipeline for college-bound athletes. To support our coaching staff, we offer after-hours private facility access for personalized training sessions. Each academy will also include an on-site experiential retail space, selling MLB-certified Overfly Sports equipment at exclusive member discount prices. Additionally, high-potential players will benefit from NIL (Name, Image, Likeness) education and athlete showcases, preparing them for future opportunities.
Beginner
Foundational skills development for new players.
Development
Intermediate training and skill refinement for growing athletes.
Elite
Advanced techniques and competitive preparation for high-performance players.
Exposure
Showcases, scouting, and NIL guidance for college-bound athletes.

The Discount That Does Everything: Members get 50% off all equipment — turning every purchase into a loyalty loop that drives both revenue and engagement.
Business Model
Business Model & Revenue Streams
Overfly Sports operates on a robust, diversified revenue model designed for both stability and significant growth potential. Our strategy leverages five key streams, each contributing to a comprehensive ecosystem that maximizes athlete engagement and financial performance. This approach ensures multiple touchpoints for revenue generation while providing exceptional value to our members.
Academy Memberships 25%
Our foundational revenue stream, offering access to facilities and benefits at approximately $50/month per member, targeting 75–120 members per location.
Lessons & Training 25%
High-value private and small-group coaching sessions tailored to individual athlete development needs.
Cage Rentals & Leagues 20%
Flexible facility usage for individual practice, team training, and organized in-house league play, catering to both members and external users.
On-site Equipment & Apparel 20%
Sales of MLB-certified Overfly Sports gear and branded apparel directly within the academy, leveraging exclusive member discounts.
Team Uniforms & Bulk Orders 10%
Supplying uniforms and bulk equipment orders for local youth leagues, schools, and travel ball teams, building community partnerships.
Beyond the Academy, our legacy MLB-certified equipment manufacturing business serves as a strong financial backbone, generating proven existing annual revenue that provides stability and industry credibility from day one. This integrated model is projected to yield Year 1 total platform revenue of $3.55M, scaling to a Year 5 base of $18M, with an upside potential of $26M.
Operations
Operations Plan
Our operations plan is meticulously designed for efficiency and scalability, ensuring a consistent high-quality experience across all Overfly Sports Academy locations. We focus on optimizing facility utilization, leveraging technology, and empowering our dedicated team to deliver unparalleled training.
Key operational components include:
Facility Design
Each academy will encompass 3,000–5,000 sq ft within high-foot-traffic mall locations, featuring advanced HitTrax batting cages, pitching tunnels, an experiential retail area, and dedicated coaching spaces.
Staffing Structure
A lean, expert team at each location will consist of a Head Coach, 2–3 Assistant Coaches, a Facility Manager, and a Retail Associate. Standard operating hours will be supplemented by after-hours private access for coaches.
Technology Integration
We utilize the HitTrax gamified training system for precise performance analytics and engaging competition. Robust membership management software will handle billing, scheduling, and retention efforts seamlessly.
Equipment Sourcing
All MLB-certified bats, helmets, batting gloves, and protective gear are sourced directly from our parent manufacturing company at cost, ensuring high quality and significant savings for members.
Strategic Locations
Mall locations are meticulously selected based on high foot traffic, visibility, and optimal accessibility for families, maximizing community engagement and membership potential.
Operational Flow
01
Site Selection
Identifying optimal mall locations based on demographic analysis and high foot traffic for maximum visibility.
02
Build-Out & Tech Install
Efficient construction and setup of state-of-the-art facilities, including HitTrax systems and retail areas.
03
Staffing & Training
Recruiting top-tier coaching talent and facility personnel, followed by comprehensive training programs.
04
Grand Launch
Executing a robust marketing campaign and grand opening to drive initial membership acquisition.
05
Sustained Growth & Scale
Implementing strategies for member retention, operational excellence, and replication across new locations.
Key Financial Targets Per Location
$9,300
Monthly Breakeven
Per location, ensuring sustainable operations.
$3-4.5K
Weekly Revenue Target
Aiming for consistent weekly performance.
$200,000
Annual Revenue
Projected revenue generation per academy.
Growth Strategy
Growth Strategy & Location Rollout
Our expansion plan is designed for strategic, phased growth, ensuring sustainable scalability and market penetration. We begin with Phase 1 in Year 1, launching one flagship location to validate our model and unit economics thoroughly. Phase 2 (Years 2-3) focuses on rapid expansion, targeting four new locations in Year 2 and eight in Year 3, utilizing a mix of corporate-owned and franchise academies to optimize capital deployment. By Phase 3 (Years 4-5), we anticipate scaling to 12 locations in Year 4, culminating in 15 base locations, with an upside potential of 20, by Year 5. Our capital-light franchise model will be key to accelerating this rollout.
Target markets include high-density Latino communities in Texas, California, Florida, and Mexico, where baseball is deeply embedded in the culture. Our marketing strategy will involve community partnerships, collaborations with RBI baseball programs, school outreach, targeted social media campaigns, and leveraging in-mall foot traffic to maximize visibility and enrollment.
1
Year 1
1 Flagship Location
Target Revenue: $3.55M
2
Year 2
4 Total Locations
Target Revenue: $5.7M
3
Year 3
8 Total Locations
Target Revenue: $9.2M
4
Year 4
12 Total Locations
Target Revenue: $13.55M
5
Year 5
15-20 Total Locations
Target Revenue: $18M–$26M
Location Count and Revenue Growth
Competitive Analysis
Competitive Landscape & Competitive Moat
The youth sports training market is fragmented, with no single entity offering a comprehensive solution that matches Overfly Sports Academy's unique value proposition. Our competitive edge stems from a blend of unique features and strategic operational choices.
No existing competitor successfully combines MLB-certified equipment manufacturing, gamified HitTrax training technology, an affordable membership model (approximately $50/month), and a dedicated Latino-focused mission under one roof. This integrated approach allows us to serve a broad demographic with high-quality, accessible training.
Our primary competitors include:
  • D-BAT: A franchise model with higher costs and no integrated manufacturing. While established, it lacks our specific community focus and cost efficiencies.
  • Cages & Craze: Often entertainment-focused, these facilities prioritize recreation over structured athletic development, offering limited coaching or progressive training programs.
  • Local Batting Cages: Typically basic, these facilities offer little to no professional coaching, advanced technology, or membership benefits, failing to build long-term athlete engagement.
  • Travel Ball Organizations: Highly expensive, these organizations often lack dedicated year-round facilities and can be exclusive, limiting access for many aspiring athletes.
Overfly Sports Academy stands apart by creating a strong, defensible position in the market, built upon five interlocking competitive moats:
MLB-Certified Manufacturing
Cost advantage on equipment, ensuring quality and affordability from our parent company.
Proprietary HitTrax Gamified Training
Engaging, data-driven experience that fosters sticky athlete retention and continuous improvement.
Affordable Membership Model
Mass market access ($50/month) to high-quality training, breaking down traditional financial barriers.
Latino Community Focus
Deep loyalty and untapped market potential within a demographic passionate about baseball.
Mall Location Strategy
Built-in foot traffic, high visibility, and convenience for families, maximizing initial and sustained engagement.
Overfly's moat isn't one singular advantage — it's five interlocking strengths that compound over time, creating a robust and resilient business model.
Leadership
Management Team
At the helm of Overfly Sports Academy is Alex Villarreal, Founder & CEO. With a robust background as an MLB-certified equipment manufacturer, Alex brings invaluable industry insight and deep-seated connections within the Latino baseball community. His entrepreneurial journey is marked by proven success in building revenue-generating businesses, demonstrating a unique ability to merge passion with commercial viability. Alex envisions Overfly Sports Academy as more than just a training facility; it's a platform to democratize elite baseball training, making it accessible and affordable for the next generation of talent, particularly within underserved communities. His unparalleled understanding of both the equipment side and the cultural nuances of baseball positions him perfectly to lead this transformative venture.
To execute our ambitious vision, we will build a lean yet highly effective leadership team. Key hires will include a President of Academy Operations to streamline our multi-location strategy and ensure operational excellence; a Head of Coaching & Athlete Development to uphold our high training standards and innovative curriculum; a Director of Marketing & Community Outreach to drive engagement and expand our footprint within target demographics; and a dedicated CFO/Finance Lead to manage our growth and financial strategy. These critical roles will be filled strategically with capital from Phase 1, ensuring we have the right talent to scale effectively.

Advisory Board in Formation: Leveraging Alex's extensive MLB industry contacts, we are actively building an advisory board comprised of seasoned professionals in baseball, business, and community development. This board will provide strategic guidance and open doors to invaluable partnerships.
Financial Projections
5-Year Financial Projections
Our financial model projects robust growth over the next five years, driven by the expansion of our academy locations and diversification of revenue streams. The capital-light franchise model for new academies, combined with the established profitability of our manufacturing base, positions Overfly Sports Academy for accelerated scaling and strong financial performance. These projections factor in realistic market penetration and operational efficiencies.
5-Year Platform Revenue by Stream ($M)
Key unit economics for each academy location:
  • Monthly breakeven: $9,300
  • Weekly revenue: $3,000 – $4,500
  • Annual revenue per location: $200,000
  • Membership fee: $50/month
  • Target members per location: 75 – 120
Financial Charts
5-Year Platform Revenue Growth
Total platform revenue grows from $3.55M in Year 1 to $18M (base) or $26M (upside) by Year 5, driven by location expansion and diversified revenue streams.
Year-over-Year Revenue Growth %
Location Count: Year 1: 1 | Year 2: 4 | Year 3: 8 | Year 4: 12 | Year 5: 15 (base) / 20 (upside)
Financial Charts
Year 5 Revenue Mix — Base Case
At Year 5 base case ($18M total), equipment and branded gear leads at 33.3%, followed by apparel at 22.2%.
The donut chart illustrates the composition of the $18M Year 5 base case revenue, with Equipment/Branded Gear accounting for the largest share at 33.3% ($6M).
This column chart compares the Year 5 Base and Upside revenue scenarios across all streams, highlighting significant upside potential in Equipment/Gear and Apparel.
Financial Charts
Investor Returns & Exit Scenarios
Phase 1 investors ($400K for 15%) can expect a 16.9x MOIC and 76% IRR at the base case $60M exit scenario.
This chart illustrates the potential Multiple on Invested Capital (MOIC) for investors across various exit scenarios, showing a strong return profile.
400,000
Investment
2.67M
Entry Valuation
60M
Exit Scenario
6.75M
Investor Value at Exit
16.9x
MOIC
76%
5-Year IRR
6.35M
Net Profit
Key financial metrics demonstrate the compelling returns for Phase 1 investors under the base case exit scenario.
Valuation & Exit
From $400K to $6.75M — How the Capital Journey Works
📐 Phase 1 — Seed Round
Formula:
Pre-Money = Investment ÷ Equity %
Pre-Money = $400,000 ÷ 15% = $2,267,000
 
Post-Money = Pre-Money + Investment
Post-Money = $2,267,000 + $400,000 = $2,667,000
 
Price per 1% = Post-Money ÷ 100
Price per 1% = $2,667,000 ÷ 100 = $26,670
📐 Phase 2 — Growth Round
Formula:
Pre-Money = Investment ÷ Equity %
Pre-Money = $2,100,000 ÷ 25% = $6,300,000
 
Post-Money = Pre-Money + Investment
Post-Money = $6,300,000 + $2,100,000 = $8,400,000
 
Phase 1 Dilution = 15% × (1 − 25%) = 11.25% ≈ 11.3%
📐 Exit — $60M Scenario
Formula:
Investor Value = Exit Valuation × Diluted Ownership
Investor Value = $60,000,000 × 11.3% = $6,750,000
 
Net Profit = Investor Value − Initial Investment
Net Profit = $6,750,000 − $400,000 = $6,350,000
 
MOIC = Investor Value ÷ Initial Investment
MOIC = $6,750,000 ÷ $400,000 = 16.9x
 
IRR = (Investor Value ÷ Investment)^(1/5) − 1
IRR = (16.9x)^(0.2) − 1 = 76.0%
$400K invested → 15% equity → $2.67M post-money
$2.1M raised → Phase 1 dilutes to 11.3% → $8.4M post-money
Platform scales → $18M–$26M revenue → 15–20 locations
$60M exit → $6.75M returned → 16.9x MOIC | 76% IRR
Financial Charts
Academy Unit Economics & Location Rollout
Each academy location targets $200K annual revenue with a $9,300 monthly breakeven, scaling from 1 location in Year 1 to 15–20 by Year 5.
The line chart visualizes the projected academy location rollout, showing a steady increase from 1 in Year 1 to 15 (base case) or 20 (upside case) by Year 5, indicating significant scaling potential.
$50
Membership Fee
per month
75-120
Members
per location
$9,300
Monthly Breakeven
$3K-$4.5K
Weekly Revenue
target
$200,000
Annual Revenue
per location
25%
Membership Mix
of academy revenue
50%
Equipment Discount
for members
These key unit economics highlight the operational efficiency and revenue drivers for each Overfly Sports Academy location, demonstrating a clear path to profitability.
Capital Requirements
Capital Requirements & Use of Funds
To fuel our ambitious expansion and solidify our market position, Overfly Sports Academy is seeking a total of $2.5 million in a two-phase capital raise. This strategic approach allows us to hit key milestones efficiently while preserving equity for future growth.
Phase 1: We are raising $400,000 for 15% equity, implying a pre-money valuation of $2.27M and a post-money valuation of $2.67M. This initial capital will enable the launch of our flagship academy and critical foundational infrastructure.
Phase 2: We will subsequently raise $2.1 million for approximately 25% equity, based on achieving key performance indicators established in Phase 1. This second round will primarily support the rapid scaling of additional academy locations and further development of our proprietary platform.
Use of Funds Breakdown (Phase 1: $400K)
The donut chart visually represents the allocation of our Phase 1 capital. The largest portion, 30%, is dedicated to the physical buildout of our first academy, creating an immersive training environment.
This detailed breakdown illustrates how each dollar from Phase 1 funding will be strategically deployed to ensure the successful launch and initial operational stability of Overfly Sports Academy.
Illustrative Cap Table
Our cap table is structured to incentivize long-term growth and investor confidence, maintaining founder control while bringing in strategic capital partners across two distinct phases of funding.
Cap Table — Ownership by Round (%)
Investment Terms
Investment Terms & Investor Returns
Overfly Sports Academy presents a compelling investment opportunity for strategic partners looking to support the future of baseball development while realizing significant financial returns. For Phase 1, we are seeking a $400,000 investment for 15% equity, valuing the company at an implied entry valuation of $2.67 million. This initial capital is crucial for establishing our flagship academy and building foundational operational infrastructure.
Following a successful Phase 2 capital raise, which will fuel our rapid expansion, the Phase 1 investor's ownership will dilute to approximately 11.3%. Our conservative five-year financial projections indicate a robust exit scenario, where a target valuation of $60 million would yield an investor value of $6.78 million for Phase 1 participants.
This translates to an impressive 16.9x Multiple on Invested Capital (MOIC) and a projected 5-Year Internal Rate of Return (IRR) of 76%, reflecting the significant upside potential of our scalable model and market positioning.
16.9x
MOIC
Multiple on Invested Capital
76%
5-Year IRR
Internal Rate of Return
$6.78M
Investor Value
At exit for Phase 1 ($60M)
$60M
Target Exit
Projected enterprise value
MOIC Sensitivity Analysis
The following tables illustrate the potential returns for Phase 1 investors under various exit valuation and post-dilution ownership scenarios, assuming an initial $400,000 investment.
These projections highlight the substantial return potential even in more conservative exit scenarios, underpinning the strength of our business model.
This comprehensive view of potential MOIC demonstrates the robust upside for early investors across a range of possible market conditions and ownership structures. We are confident in our ability to achieve and exceed these targets through strategic execution and market leadership.
Strategic Analysis
SWOT Analysis
Overfly enters from a position of strength — with real revenue, real moats, and a real market gap to fill.
Strengths
  • MLB-certified manufacturer with seven-figure existing annual revenue — not a startup starting from zero
  • Ranked #7 among all MLB-certified bat manufacturers by player count (ATDigest, 2026)
  • The only vertically integrated platform combining manufacturing, academy, retail, and NIL
  • Hispanic founder with authentic community credibility and strong founder-market fit
  • 50% member equipment discount creates a powerful, self-reinforcing loyalty loop
  • 1099 coaching model keeps labor costs variable and margins protected
Opportunities
  • 9M–12M underserved youth players across the U.S. and Mexico — a massive, captive market
  • Youth sports costs are up 46% since 2019 — Overfly's affordability model is perfectly timed
  • Latino youth sports participation is growing at a 3.9% CAGR — the fastest-growing demographic in the sport
  • NIL market projected to exceed $2.5B — Overfly is positioned to own the pipeline from first swing to first deal
  • Mall-to-sports-facility conversion is a proven, rapidly scaling category with low buildout costs
  • Private equity validation: KKR's $4.8B Varsity Brands deal signals institutional appetite for scaled youth sports platforms
Areas We're Building
  • Single location at launch — but Phase 1 is designed specifically to prove and document the playbook before scaling
  • Brand awareness is early-stage — but the MLB certification and community-first model accelerate organic trust-building
  • Advisory board is still forming — but investors with relevant networks are invited to participate with equity recognition
  • NIL platform is Phase 3 — the core business is fully profitable without it, making NIL pure upside
Threats We're Ready For
  • Well-funded competitors (Dick's House of Sport, D1 Training) — but none target underserved communities or manufacture equipment
  • Membership ramp risk in early months — mitigated by mall foot traffic, the 50% discount, and a low 75-member breakeven threshold
  • Supply chain exposure as a manufacturer — mitigated by an established supply chain and conservative inventory management
  • NIL regulatory uncertainty — irrelevant to the core business; NIL is a Phase 3 upside layer, not a dependency

Every weakness is a building opportunity. Every threat has a structural answer. Overfly's existing revenue base, manufacturing moat, and community focus make this one of the most de-risked early-stage sports investments available today.
Risk Analysis
Risk Analysis & Mitigation
As with any high-growth venture, Overfly Sports Academy operates within a landscape of potential challenges. Our comprehensive risk analysis not only identifies these critical areas but also outlines proactive mitigation strategies embedded within our business model. We believe our structural advantages and strategic approach significantly reduce exposure, enhancing investor confidence and ensuring sustainable growth.
Slow Membership Ramp
Mitigated by strategic location selection in high foot traffic malls, proactive community partnerships, and leveraging existing relationships with RBI (Reviving Baseball in Inner Cities) programs to ensure a strong influx of initial members.
Competition from Established Players
Mitigated by Overfly's unique value proposition: a compelling combination of proprietary apparel manufacturing, gamified training experiences, and an affordable monthly membership fee that stands out in the market.
Franchise Execution Risk
Mitigated by our strategy of establishing a corporate-owned flagship academy first. This allows us to fully prove and optimize the operational model, training protocols, and customer experience before scaling through franchising.
Equipment Supply Chain Vulnerabilities
Mitigated by the direct ownership of the manufacturing parent company. This vertical integration ensures a controlled and reliable supply of our specialized training equipment and exclusive apparel, reducing external dependencies.
Economic Downturn Reducing Discretionary Spend
Mitigated by our highly accessible $50/month price point. This positions Overfly as a cost-effective and high-value alternative to more expensive sports training options, making it resilient even during economic contractions.
Key Person Dependency
Mitigated by our commitment to building a diverse and robust leadership team and an experienced advisory board. Phase 1 capital will be specifically allocated to attract top talent, ensuring broad expertise and operational continuity.
Our proactive approach to identifying and addressing these risks, coupled with our inherent structural advantages, positions Overfly Sports Academy for robust growth and minimizes potential roadblocks on our path to market leadership.
Conclusion
Overfly Sports Academy is building the future of youth baseball and softball — one athlete at a time.
We are not starting from zero. We have proven revenue, MLB-certified manufacturing, a clear market gap, and a founder who lives this mission.
We are ready to build. Join us.
Alex Villarreal, CEO | avillarreal@overflysports.com
Financial Supplement
Financial Model
Detailed assumptions, projections, and per-location economics supporting the Overfly investment thesis.
Financial Supplement
Per-Location Monthly P&L Model
Monthly P&L — Single Location (Stabilized)

Stabilized model assumes 90 active members, 3 full-time equivalent 1099 coaches, and a mid-tier mall inline space. Breakeven occurs at ~$9,300/month — achievable within months 3–5 of operation.
Financial Supplement
Membership Ramp Model — Per Location
Members (Single Location)
Membership Revenue Ramp ($)

Membership ramp assumes mall foot traffic, community outreach, and referral-driven growth. The 50% equipment discount accelerates early sign-ups by reducing the perceived cost of joining.
Financial Supplement
5-Year Platform Revenue Ramp
Platform Revenue ($M)
5-Year Revenue Summary

Revenue ramp is driven by location count, membership density, and platform revenue layers (equipment, apparel, NIL). Each new location adds ~$1.4M in annualized revenue at stabilization.
Financial Supplement
Key Assumptions & Sensitivity
Core Model Assumptions
Sensitivity Analysis — NOI at Varying Member Counts
NOI by Member Count

The model is highly sensitive to membership count in early months. Reaching 75 members is the critical threshold — above that, every additional member is nearly pure margin given the fixed-cost structure.