Balance Gymnastics opened for business in June in the midst of a pandemic. A COVID-19 success story, the newly-launched business is not only surviving, it’s thriving. Owners Matt and Brandy Knabb credit their success to the SBDC-Lynchburg Region. “Opening a gym was a goal of ours,” Brandy says. “We just wanted to find the right time and location.” Mid-2020 was not an optimal time, Brandy admits, but a lease was signed and plans had been made. The couple decided to go ahead with the June opening.
Brandy, originally from Concord and a gymnast from an early age, explains her motivation: “There was nothing like this in Concord. We wanted to provide the community with something it didn’t currently have.” Fortunately, Matt and Brandy connected with the SBDC during planning stages for the project. “A friend who has a gym in Charlottesville recommended the SBDC,” Brandy says. “We went to the Start Smart class last October and set up some one-on-one sessions with Stephanie Keener, Director of the SBDC-Lynchburg Region.”
The first order of business was writing a business plan. “We had all these ideas in our head but didn’t have a formal plan on paper,” Brandy recalls. “We knew we would need to have a business plan in hand to apply for a loan to buy equipment. Stephanie helped us with the beginning steps and told us what the plan needed to include. SBDC Business Advisor Jamie Reynolds helped us create financial projections to make sure a gym in Concord was feasible.” Matt and Brandy also found the SBDC classes helpful. “I know gymnastics, but I’m not a business major,” Brandy relates. “There were so many little things we could have missed had we not had the SBDC on our side.”
Balance Gymnastics was able to open at 30% capacity in June. “We started with a small group of staff and 35 kids whose parents were brave enough to register during COVID-19,” Brandy says. “After we opened, we relied on word-of-mouth and the guidance Stephanie gave us on marketing and social media. As restrictions lifted, we were able to offer more classes. Currently, we have classes for children 18 months old through college age.” As the year progressed, enrollment grew. “We have grown rather quickly,” Brandy notes. “We now have 175 students and a coaching staff of ten.”
The couple is already thinking ahead to the future. “After the first of the year, we plan to go to our next phase and offer adult fitness classes,” Brandy adds. “There are so many things we didn’t have a clue about when we went to the SBDC,” Brandy explains. “If we hadn’t worked with them, I doubt we would have ever been able to open, and definitely not in the same time frame.”
Matt and Brandy happily recommend the SBDC to others interested in starting a business. “The SBDC has something for every aspect of running a business,” Brandy concludes. “They keep you pointed in the right direction, and they really set you up for success right from the start.”