The right operator, at the right address, at the right moment.
Laurelwood Shopping Center sits at the heart of central San Mateo — a dense, affluent, underserved premium-fitness catchment anchored by daily-needs retail. STNDRD brings fifteen years of operating depth and a turnkey team to a neighborhood primed for daily traffic and disposable spend.
Free surface spaces at Laurelwood, layered on the S. Delaware St office and retail corridor that moves through central San Mateo every day.
Laurelwood sits directly at the Hwy 92 / W. Hillsdale Blvd interchange — minutes to 101, Foster City, Burlingame, Belmont, and the San Mateo medical offices.
People within a 1-mile radius, 16,500 households at an average household income of $205,000 — among the Peninsula's strongest premium-fitness paying densities.
Premium independent clubs serving the Laurelwood catchment today. The trade area chooses between crowded big-box floors or a drive to downtown Equinox — nothing boutique-premium exists in the immediate neighborhood.
A market built for premium.
- · Laurelwood's Piazza's Fine Foods anchor draws daily-needs traffic from a 5-mile trade area of 759K residents
- · Bay Meadows and Hayward Park keep adding dense, walkable housing nearby
- · Foster City, Burlingame, and Belmont extend the catchment — all within 10 minutes
- · Mills-Peninsula and the S. Delaware office corridor add a steady weekday population
- · Free surface parking — a daily operational advantage few premium clubs can offer
7,655 square feet across two floors.
Laurelwood Shopping Center is an established neighborhood center anchored by Piazza's Fine Foods at the Hwy 92 / W. Hillsdale Blvd interchange — daily-needs traffic, 560+ free parking spaces, and immediate freeway access. Under the current LOI, the landlord funds ~$225K of base building work (fire sprinklers, vault and dumbwaiter removal) and a $30/SF tenant improvement allowance, with rent-free possession through construction and six months of abated base rent after opening.
Laurelwood sits inside the daily orbit of San Mateo's strongest demand pockets.
The address is not dependent on one customer source. It is surrounded by campus activity, dense residential growth, medical and office traffic, and established Peninsula communities that lack a comparable premium fitness option nearby.
College of San Mateo
Campus demand sits immediately west of Laurelwood.
Downtown + medical offices
A dependable base of weekday professional traffic.
Belmont to Burlingame
Established communities close enough for routine use.
College of San Mateo
Student, faculty, athlete, and campus-adjacent household demand sits immediately west of Laurelwood.
Bay Meadows
Dense housing and retail growth feed a premium audience that values convenience and parking.
Hayward Park
A commuter-adjacent San Mateo neighborhood close enough for morning, lunch, and evening training routines.
Downtown San Mateo
A major local activity node that widens Laurelwood's reach without turning the club into a destination-only concept.
Mills Health Center
Healthcare, office, and weekday professional traffic adds steady non-residential demand.
Foster City
Affluent households east of 101 remain inside an easy daily-use drive.
Belmont
A nearby community with limited premium independent strength options at STNDRD's level.
Burlingame
A high-income community close enough to reinforce regional scarcity and word-of-mouth demand.
Two levels, split by purpose.
Of the 7,655 SF footprint, roughly 5,000 SF of ground floor is devoted entirely to premium strength and cardio — the largest training floor in the area at this caliber. The upstairs is reserved for locker rooms, sauna, and the member lounge, so training space and member comfort each get a full level.
The entire ground floor is dedicated to training. Premium-brand strength — selectorized and plate-loaded stations, power racks, dumbbells, and benches — anchors the floor, with the full cardio line-up alongside it. One open, uncrowded level where every visit happens on a single floor.
The full second floor is reserved for the member experience around the workout: premium locker rooms, sauna, and a member lounge. A quiet upstairs to arrive, transition, and unwind — completely separated from the training floor below.
Premium strength brands you can feel.
Every station, rack, and plate at Laurelwood San Mateo is chosen from the world's most respected strength manufacturers — an equipment line-up built on quality and feel, not logos. Direct-to-manufacturer pricing secures a top-tier floor without retail markups.
A floor stocked exclusively with premium strength brands — selectorized and plate-loaded stations chosen for smooth mechanics, durable construction, and the feel serious lifters notice on the first rep.
Direct-to-manufacturer purchasing with premium exercise brands stretches the equipment budget further — more flagship stations and racks on the floor for the same spend, with no retail markup diluting quality.
Serious lifters across the mid-Peninsula currently commute out of the area for a premium strength floor. A capped, uncrowded club with a top-tier equipment line-up at Laurelwood pulls that demand back into the neighborhood — and keeps it.
The gym the neighborhood organizes around.
- · A 750-member capacity in a catchment of 42,000 affluent residents makes membership itself scarce — waitlists build brand heat
- · Serious trainees are under-served locally — no premium strength floor operates in the immediate neighborhood
- · Members join a known community, not an anonymous floor — trainers in residence, capped access, and familiar faces
- · Equipment credibility converts word of mouth — members bring friends, and the Apex tier carries that growth
- · Neighborhood anchors (Piazza's, Laurelwood's daily-needs retail, medical district) keep the club woven into daily routines, not special trips
STNDRD is the right team for a flagship of this scale.
STNDRD is built on the operational backbone of Fitness Therapy — a Bay Area cornerstone since 2011 with thousands of members served, fifteen trainers on staff, and an active pipeline of premium satellite and flagship facilities.
Fifteen years of proven growth.
Founded in 2011 by Ryan Dantes, Fitness Therapy has operated continuously for fifteen years and has expanded five times — each move driven by membership growth — before reaching its current South San Francisco flagship. Thousands of members served since inception, and the 4,800 SF facility has been waitlisted for new memberships for the last nine months. That demand isn't slowing: before the end of the year, Fitness Therapy adds 3,000 SF and 100 additional members — a sixth expansion in the same growth-driven pattern. That track record is the operating muscle behind every STNDRD location.
A new standard for premium fitness.
STNDRD packages that rigor into a refined, frictionless experience designed for premium urban environments — memberships, training, wellness, and recovery under one operator, one brand, and one set of standards. Planning, entitlement, and build-out for the South San Francisco and San Mateo flagship sites are running in parallel today.
Ryan Dantes, Founder and Managing Member, holds Bachelor of Science and Master of Science degrees in Kinesiology and has spent his career designing, building, and operating fitness and wellness facilities on the Peninsula — as an operator, a studio founder, and a national facility designer.
Operator — Fitness Therapy, LLC (2011)
Founded and has operated continuously for fifteen years, expanding five times on membership growth alone. Opened, staffed, and runs premium training facilities end to end — the contracting entity and operating backbone behind STNDRD.
Studio Founder — Rise Wellness Collective (2024)
Launched a specialized, class-oriented boutique studio under the Fitness Therapy umbrella pairing reformer and mat Pilates, yoga, and strength-based instruction. The concept found its footing quickly and is now expanding into new markets — proof the team can incubate and scale new formats.
Facility Designer — LEVEL5 Consulting & Design
Founder of a consulting and design firm for fitness, wellness, and performance spaces, with more than 150 spaces planned nationwide for schools, corporate campuses, and private operators. Most recently, LEVEL5 designed and consulted on Ascent Athletics in San Francisco — a premium multi-brand strength floor at a $225/mo published rate with a hard 300-member cap. STNDRD manages its own layout, equipment package, and installation schedule in-house — reducing execution risk and keeping every build dollar focused on the space.
Vast Network
Deep relationships and access to fitness providers throughout the Bay Area — staffing, referrals, and partnerships can scale on demand from day one.
Standalone Flagship
3150 Campus Dr operates as a fully self-contained STNDRD flagship — its own P&L, its own management team, its own membership base. No reliance on any sister site.
Pipeline
STNDRD South San Francisco flagship (1103 El Camino Real) awaiting permit approval; additional Bay Area sites in the pipeline.
Proprietary Software
In-house software engineering builds proprietary tools designed specifically around the STNDRD ecosystem — booking, billing, and member CRM tailored to the concept, not adapted to it.
Equipment Familiarity
Deep working knowledge of the full equipment suite plus preventative maintenance protocols to keep downtime minimal.
Reputation
Fifteen years of landlord and member trust — a partner the ownership group can underwrite, not a first-time operator.
A premium-fitness catchment hiding in plain sight.
The Laurelwood catchment pulls from Hayward Park, Bay Meadows, and western San Mateo's residential hills — high-income households with a strong willingness to pay for premium wellness.
| Demographic | 0.3 mi | 0.5 mi | 1 mi |
|---|---|---|---|
| Population | 11,400 | 24,600 | 42,000 |
| Households | 4,500 | 9,800 | 16,500 |
| Avg HH Income | $196,000 | $201,000 | $205,000 |
| Median HH Income | $162,000 | $166,000 | $172,000 |
Source: census-tract and ZIP 94403 demographic estimates around 3150 Campus Dr — the ZIP's median household income is ~$172K and 45% of households earn $200K+. The 1-mile ring also captures the Laurelwood retail workforce and the S. Delaware St office and medical corridors — additional non-resident demand not reflected in the figures above.
Crowded floors, broken machines, and locker rooms you'd rather forget.
The four closest gyms of a comparable scale to STNDRD Laurelwood are franchise boxes and class-only studios — none offers a premium open training floor, a capped membership, or any recovery programming.
Snap Fitness
24/7 franchise box minutes from Laurelwood. Unstaffed most hours, minimal equipment depth, no coaching bench, no recovery — access is the only product.
San Mateo Athletic Club
College-run public facility with ~14,000 SF floor and a pool. Institutional pricing, but dated equipment, limited evening hours, and a campus-first calendar.
Basecamp Fitness
35-minute HIIT class studio at boutique pricing. Class-only format — no open floor, no strength progression, no free-weight depth whatsoever.
F45 Training
Functional group-class franchise charging near-premium dues for a scripted 45-minute circuit. No open gym access, no racks, no individual programming.
Train, don't wait.
- · Capped membership — no overcrowded floors or equipment lines
- · Multiple premium strength brands in rotation — STNDRD and Fitness Therapy are the only facilities in the market running several world-class equipment brands side by side
- · Dedicated recovery floor — contrast room, massage, IV therapy under one roof
- · Immaculate standards — full-time cleaning staff, premium finishes, locker rooms designed for comfort
- · Expert-led programming — 15 certified trainers, not hourly floor staff
Why Members Leave Big-Box for Boutique Premium
Equipment Availability
At high-volume gyms, peak-hour wait times for benches, racks, and machines are routine. STNDRD caps membership density so every station is available when you need it.
Cleanliness & Hygiene
Low-cost operators run lean on staffing. STNDRD employs a dedicated cleaning crew and sources premium finishes that stay pristine — because a luxury gym must look and smell like one.
Community & Coaching
Big-box members are anonymous. STNDRD members are known — greeted by name, coached by experts, and connected to a community that shows up for the same standard.
Equipment You Can't Get Elsewhere
STNDRD and Fitness Therapy are the only product on the market with multiple premium luxury strength brands in rotation. This line-up is the pricing rationale: members pay for hardware no other facility in the area carries.
Comps our size — plus our own operating proof.
Operators STNDRD actually competes with and learns from — plus Fitness Therapy, the company's existing 4,800 SF facility already running the trainer-in-residence model with 15 independent trainers and 150 members at a $175 average — waitlisted for the last nine months and adding 3,000 SF and 100 more members before year-end. Each outside comp stress-tests a different lever: capped-with-waitlist scarcity (CVMPOUND), ramp velocity at a sub-$100 price point — 650 members within months of opening and a 1,500-member stretch goal (GForce Fitness El Dorado Hills), the same premium multi-brand strength floor under a 300-member cap in 4,500 SF (Ascent Athletics), a private-training flagship modeled at ~$700K in membership revenue under a 200-member cap and 20 trainers at $240–$340/mo (Custom Fit SF Mid-Market), and the pricing ceiling — a 150-client private club clearing an estimated $1.44M/yr at $799–$1,200/mo (Arena of Kleos). Together they bracket the price, scale, and demand assumptions behind the 450–750 member plan at $245–$257 blended at a footprint in the same league. Programming, atmosphere, and community — not Equinox-grade spend — are what drive member sales.
CVMPOUND
Direct proof of the capped-membership + waitlist model STNDRD is using. An 11.5K SF independent has saturated demand at $160–$260/mo with recovery lounge + IV therapy. STNDRD runs a tighter footprint at 1.4× the ARPU — the same scarcity mechanic underwrites the 450-member goal and the growth to a 750-member capacity.
cvmpound.com/pages/enrollment + /waitlist (live, 2026).
GForce Fitness · El Dorado Hills
The velocity read. GForce opened its El Dorado Hills flagship in June 2026 and is already running 650 members at a $99/mo standard rate — with a stated stretch goal of 1,500 members. Even at a sub-$100 price point, the member math is the story: 650 × $99 clears roughly $772K in annual membership revenue within months of opening, and the 1,500-member stretch would carry it past $1.7M/yr. GForce proves the ramp — how fast a strength-forward, community-built club fills in a suburban Sacramento market. STNDRD's plan needs less than half of GForce's stretch headcount to clear the same revenue, because the Laurelwood model trades volume for a $245–$257 blended rate on a capped floor.
gforcefitness.com + gforcefitnessfolsom.com (live rate card, 2026). 650 members, 1,500-member stretch goal, and June 2026 opening are operator figures; annual revenue is estimated from published pricing.
Ascent Athletics
The equipment-for-equipment twin — and an in-house design. Ascent runs the same playbook STNDRD is built on — a hard 300-member cap, a 'train and go' professional culture, and a floor stocked with Atlantis Strength, Eleiko, and Prime Fitness: the exact premium multi-brand lineup STNDRD is positioning around. The facility was designed and consulted by Ryan Dantes, STNDRD's founder — the same hand shaping the Laurelwood floor. At its published $225/mo rate across the 300-member cap, a full roster clears roughly $810K in annual membership revenue from just 4,500 SF — about $180/SF/yr. Its Founders Club lifetime rate lock is the same mechanic as STNDRD's Legacy tier, and the cap-plus-premium-iron model in San Francisco is the strongest evidence in this set that a multi-brand strength floor carries its own pricing power — members join for the machines, not the square footage.
ascentathletics.com (live, 2026). Published $225/mo rate across the 300-member cap; revenue estimated from published pricing. Design and consultation by Ryan Dantes.
Custom Fit SF · Mid-Market Flagship
A private-training gym proving members pay above STNDRD's band for a clean, uncrowded, service-heavy space. Model Custom Fit's largest facility — the Mid-Market flagship, the biggest of its three studios — at a 200-member cap and 20 trainers: at Custom Fit's published ladder ($240/mo Tier 1 plus a $100 initiation, $340/mo Tier 2 — call it $290 blended), a full cap produces roughly $700K in annual membership revenue before a single personal-training session is sold. That is a floor, not a ceiling: PT sessions, DEXA/VO2 testing, an infrared sauna and cold plunge recovery room, and unlimited group classes all stack on top. The cap is the strategy — its marketing leans on exactly the words STNDRD is built around, 'clean, uncrowded space' and 'never busy' — at price points a full tier above the Laurelwood plan. With 20 trainers on the floor, the flagship also mirrors the resident-trainer bench STNDRD plans.
customfitsf.com (live rate card, 2026). Mid-Market flagship size, 200-member cap, 20 trainers, and revenue are modeled assumptions — not published figures.
Arena of Kleos
The pricing-ceiling proof. A private, 24/7 keycard club in Nob Hill caps enrollment at 150 clients and charges $799–$1,200/mo across its tier ladder — coaching-inclusive rates that clear roughly $1.44M a year at the founding rate alone, out of a space a fraction the size of a conventional club. No front desk, no crowd, hand-selected iron, complimentary gated parking, and on-site recovery — with the capped roster marketed as the product itself: 'that number is the product.' Kleos demonstrates that Bay Area buyers will pay 3–4× STNDRD's band for scarcity, atmosphere, and discretion — and that a small, disciplined roster can outgross far larger facilities. STNDRD's $225–$285 band sits deliberately between the big-box floor and the Kleos ceiling: full premium access at a fraction of private-club pricing.
kleosfitness.com (live rate card, 2026). Revenue estimated from published founding rate at the published 150-client cap; tiers include coaching services.
Fitness Therapy
The in-house proof of concept — and it's still growing. Fitness Therapy already runs the exact model proposed for Laurelwood — independent trainers in residence plus a membership base — in just 4,800 SF. Fifteen independent trainers operate alongside 150 members at a $175 average, the membership has been waitlisted for the last nine months, and before the end of the year Fitness Therapy adds 3,000 SF and 100 additional members — pushing toward ~$865K in projected annual revenue. Demand at this price point in this model exceeds supply even at a fraction of Laurelwood's footprint. Laurelwood scales that proven mix: 60% more floor area from day one, a deeper trainer bench, and membership pricing a tier above the prototype.
Internal operating data — existing company facility. Expansion and 100-member addition per operator guidance, projected at the $175 average.
Comparable to CVMPOUND and Ascent Athletics' proven independent footprints — the tight, high-experience band where capped premium-strength independents thrive.
Capped Apex tier — the same scarcity mechanic CVMPOUND runs with a live waitlist and Ascent Athletics enforces at its 300-member cap.
A full tier above Fitness Therapy's proven $175 average, and bracketed by the expanded set — CVMPOUND's waitlisted floor, Ascent Athletics' $225 premium-strength rate, Custom Fit SF's $290 service-heavy flagship, and Arena of Kleos's $799–$1,200 private-club ceiling.
Figures above are drawn from the operators' live published rate cards and public pages. Member counts and square-footage are best-available estimates and are presented as directional benchmarks for the underwriting case, not as audited operator financials.
Capacity 750 — with a 450-member goal inside 12–16 months.
STNDRD Laurelwood caps total membership at 750 to protect the floor experience that defines the brand. The operating goal is 450 members within 12–16 months of opening: pre-sale velocity locks in the first 150 at the Legacy rate, and the published Core rate carries the fill through the goal window. Beyond 450, the door opens to the Apex tier at $285 — the top of the membership ladder as the community grows toward full capacity.
- Full facility access
- 10% off services & retail
- Legacy-member events
- Full facility access
- 15% off wellness & retail
- Priority booking & amenities
- Full facility access
- 15% off wellness & retail
- The highest tier of membership
The underwriting case — 150 Legacy + 300 Core members.
+300 Apex members beyond the Core fill.
At 450 members — memberships are the core revenue line.
At 750 full fill — +$85,500 from the Apex tier.
| Stage | Tier | Members | Price | MRR Contribution | % of Base MRR |
|---|---|---|---|---|---|
| Pre-Sale · Months -6 to 0 | Legacy | 150 | $225 | $33,750 | 31% |
| Ramp · Months 0 to 16 | Core | 300 | $255 | $76,500 | 69% |
| Total at 450-member goal | 450 | $245 | $110,250 | 100% | |
| Beyond Core · Month 16+ | Apex | 300 | $285 | $85,500 | — |
| Total at full capacity | 750 | $261 | $195,750 | — | |
Pre-sale Legacy memberships open at lease signing and run through the 6-month build-out — securing ~$22K of MRR before doors open and validating the corridor's willingness to pay. The published Core rate carries the ramp to the 450-member goal inside 12–16 months. The Apex tier at $285 carries the community beyond the goal, scaling to its 750-member capacity.
From pre-sale to full capacity — month by month.
Pre-sale Legacy memberships open six months before doors at $225. The published Core rate of $255 carries the fill to the 450-member goal inside 12–16 months, and the Apex tier at $285 builds the community to its 750-member capacity by Month 24.
| Milestone | Stage | Legacy | Core | Apex | Total | MRR |
|---|---|---|---|---|---|---|
| M-6 | Pre-sale opens at lease signing | 40 | — | — | 40 | $9,000 |
| M-3 | Pre-sale momentum | 100 | — | — | 100 | $22,500 |
| M0 | Doors open — Legacy tier filled | 150 | 25 | — | 175 | $40,125 |
| M3 | Core tier ramps | 150 | 100 | — | 250 | $59,250 |
| M6 | 350 members at mid-ramp | 150 | 200 | — | 350 | $84,750 |
| M12 | 450-member goal reached (12–16 mo window) | 150 | 300 | — | 450 | $110,250 |
| M16 | Goal held — community stabilises | 150 | 300 | — | 450 | $110,250 |
| M18 | Apex tier begins | 150 | 350 | 25 | 525 | $130,125 |
| M24 | Full capacity of 750 | 150 | 400 | 200 | 750 | $192,750 |
By M-3, 100 Legacy members at $225 validate the corridor before a dollar of build-out risk.
450 members at a blended ~$245/mo — the published underwriting case.
750 members at $192,750/mo — full capacity.
Independent pros. Built-in community. Recurring rental revenue.
Instead of selling personal-training packages, STNDRD houses independent trainers who already have a strong following. They rent floor time, bring their own clients, and become natural leaders on the gym floor — no overhead, no turnover, and no marketing spend required.
Full-time independent trainers renting dedicated floor time at the facility — each with an established book of business and a loyal client base.
Per-trainer monthly rental fee. Pure facility revenue with zero variable cost — a fixed, predictable line item that scales with occupancy.
Existing clients per trainer who are offered a discounted Legacy membership as long as they train with a resident pro.
Conservative conversion of trainer clients into STNDRD memberships at $199/mo — adding 45+ members at no direct acquisition cost.
Leaders on the floor without the overhead.
- · Personable professionals — trainers with strong followings bring energy, accountability, and a built-in culture that money can't buy
- · No PT packages required — the gym does not sell, schedule, or manage personal training; trainers handle their own books and keep their full session rates
- · Direct referrals — members who want training are introduced to available resident trainers with no strings, no markup, and no commission overhead
- · Low turnover — because trainers keep their revenue and control their schedules, they stay longer, stabilising rental income month after month
- · Passive member growth — a conservative 20% capture of each trainer's client book adds discounted memberships that require zero marketing spend to acquire
Facility Rent
15–20 trainers × $1,885/mo = $28,275–$37,700/mo in pure rental revenue with no variable cost attached.
Captured Memberships
At 20.0% capture, resident trainers contribute an additional 45+ members paying the discounted Legacy rate of $199/mo — expanding the community without expanding the marketing budget.
Trainer Retention
By letting trainers operate as independent businesses inside the facility, STNDRD removes the friction that drives turnover at commission-based clubs. Stable tenancy means stable revenue.
Drop-in revenue from colleges, community, and local business.
Drop-in demand at Laurelwood is homegrown: College of San Mateo students and faculty 0.6 miles away, neighbors between memberships or hosting visiting friends, and the professionals staffing the S. Delaware St office corridor and the medical district. Premium clubs average $40–$75 per pass — none of it requires marketing spend beyond the neighborhood STNDRD already serves.
Passes sold per day across scenarios. Anchored to boutique-premium urban benchmarks (Equinox, Life Time, Bay Club) in comparable affluent suburban and urban markets.
Per-pass price. Premium clubs range $40–$150/day — STNDRD is positioned mid-range to convert high-intent local demand while staying exclusive relative to big-box day rates.
Conservative to High-Impact. Variable cost is minimal — $6/pass for towel, app credentials, and supplies.
At 6 passes/day × $55/pass. Pure incremental revenue — the facility, staff, and overhead are already in place for members.
Why This Works Here
- · College of San Mateo — ~10,000 students and faculty 0.6 miles away; day passes capture the fitness-minded segment without undercutting member dues
- · Local business demand — the S. Delaware St office corridor and medical district put thousands of professionals within minutes of the front door for lunch-hour and after-work sessions
- · Community access — residents between memberships, guests of members, and neighbors testing the club all convert at the door — every pass is also a membership audition
- · No member dilution — drop-in volume is intentionally capped relative to membership, and pricing is set above peer-club day rates to protect the member experience
- · Lead funnel — every day pass is a qualified prospect for full membership; conversion captured for free
- · Near-zero variable cost — fixed staffing covers passes; only towels and credentials scale with volume
- Urban boutique (NYC, LA, SF)$40–$75 · 8–20/day
- Bay Area premium (Bay Club, Equinox)$35–$75 · 10–25/day
- Affluent suburban premium$30–$60 · 8–18/day
- STNDRD Laurelwood (Moderate)$55 · 6/day
Source: IHRSA, ClubIntel premium-club benchmarks, and published rack rates from Equinox, Life Time, Bay Club, and comparable boutique-premium operators.
Membership pricing, costs, and fixed overhead — fully disclosed.
Every number in the pro-forma derives from these inputs. Revenue comes from three lines — capped memberships, Trainers in Residence (facility rent plus a conservative capture of each trainer's existing client book at a discounted Legacy rate), and Day Passes from the Laurelwood daily-needs and local community corridor.
Membership Pricing
- Legacy (pre-sale, 150 members)$225 / mo
- Core (ramp to goal, 300 members)$255 / mo
- Apex (+300 to capacity)$285 / mo
- 12–16 mo goal · Full capacity450 · 750
- Member variable cost$18 / member / mo
- Blended CAC (acquisition)$65 / new member
Fixed Monthly Costs
- Operations & management$24,500 / mo
- Base rent, yrs 1–5 (7,655 SF × $2.75/SF)$21,051 / mo
- Base rent, yrs 6–10 ($3.08/SF)$23,577 / mo
- NNN est. (7,655 SF × $0.45/SF)$3,445 / mo
- Marketing / retention$8 / member / mo
- Base rent abatement6 months after opening
Management & admin covers GM, member experience lead, software stack, insurance allocation, supplies, security, and baseline utilities. NNN covers the tenant's share of taxes, insurance, and CAM — controllable expense increases capped at 5% per year per the LOI; the $0.45/SF/mo figure is an estimate pending the landlord's operating expense statements.
Operations & Management Budget — On-Site Staffing
- Front desk attendant · $30/hr × 8 hrs/day · 7 days/wk$7,280 / mo
- Maintenance · $30/hr × 6 hrs/day · 7 days/wk$5,460 / mo
- On-site staffing subtotal · 98 staffed hrs/wk$12,740 / mo
- Management & admin (GM, member experience, software, insurance, supplies, security, utilities)$11,760 / mo
The club is staffed every day it is open: a front desk attendant covers 8 hours daily and maintenance covers 6 hours daily, 7 days a week — 14 on-site staff hours per day at $30/hr. Figures use a 52-week year averaged across 12 months.
Three scenarios. Same model. Different fill assumptions.
Each scenario varies only the member count and blended ARPU across the ramp. Fixed costs stay constant so you can read the upside of the membership-led model cleanly.
450 members · $245 blended ARPU
| Line | Volume | Gross / mo | Variable | Net Contribution |
|---|---|---|---|---|
| Memberships | — | $110,250 | $8,100 | $102,150 |
| Active members @ blended $245/mo | 450 members | $110,250 | $8,100 | $102,150 |
| Trainers in Residence | — | $37,230 | $810 | $36,420 |
| Resident trainers @ $1,885/mo facility rent | 15 trainers | $28,275 | $0 | $28,275 |
| Trainer-acquired members @ $199/mo (20% capture of 15-client books) | 45 members | $8,955 | $810 | $8,145 |
| Day Passes | — | $5,400 | $720 | $4,680 |
| Drop-in day passes @ $45/pass (4/day avg) | 120 passes/mo | $5,400 | $720 | $4,680 |
| On-site staffing (front desk + maintenance) | — | — | $12,740 | ($12,740) |
| Management & admin (fixed) | — | — | $11,760 | ($11,760) |
| Marketing | — | — | $3,600 | ($3,600) |
| Base Rent + NNN | — | — | $24,496 | ($24,496) |
| Net Revenue | $90,654 | |||
| Retained by STNDRD after rent & NNN (no revenue share) | $90,654 |
600 members · $252 blended ARPU
| Line | Volume | Gross / mo | Variable | Net Contribution |
|---|---|---|---|---|
| Memberships | — | $151,200 | $10,800 | $140,400 |
| Active members @ blended $252/mo | 600 members | $151,200 | $10,800 | $140,400 |
| Trainers in Residence | — | $46,865 | $1,170 | $45,695 |
| Resident trainers @ $1,885/mo facility rent | 18 trainers | $33,930 | $0 | $33,930 |
| Trainer-acquired members @ $199/mo (20% capture of 18-client books) | 65 members | $12,935 | $1,170 | $11,765 |
| Day Passes | — | $9,900 | $1,080 | $8,820 |
| Drop-in day passes @ $55/pass (6/day avg) | 180 passes/mo | $9,900 | $1,080 | $8,820 |
| On-site staffing (front desk + maintenance) | — | — | $12,740 | ($12,740) |
| Management & admin (fixed) | — | — | $11,760 | ($11,760) |
| Marketing | — | — | $4,800 | ($4,800) |
| Base Rent + NNN | — | — | $24,496 | ($24,496) |
| Net Revenue | $141,119 | |||
| Retained by STNDRD after rent & NNN (no revenue share) | $141,119 |
750 members · $257 blended ARPU
| Line | Volume | Gross / mo | Variable | Net Contribution |
|---|---|---|---|---|
| Memberships | — | $192,750 | $13,500 | $179,250 |
| Active members @ blended $257/mo | 750 members | $192,750 | $13,500 | $179,250 |
| Trainers in Residence | — | $53,620 | $1,440 | $52,180 |
| Resident trainers @ $1,885/mo facility rent | 20 trainers | $37,700 | $0 | $37,700 |
| Trainer-acquired members @ $199/mo (20% capture of 20-client books) | 80 members | $15,920 | $1,440 | $14,480 |
| Day Passes | — | $16,200 | $1,620 | $14,580 |
| Drop-in day passes @ $60/pass (9/day avg) | 270 passes/mo | $16,200 | $1,620 | $14,580 |
| On-site staffing (front desk + maintenance) | — | — | $12,740 | ($12,740) |
| Management & admin (fixed) | — | — | $11,760 | ($11,760) |
| Marketing | — | — | $6,000 | ($6,000) |
| Base Rent + NNN | — | — | $24,496 | ($24,496) |
| Net Revenue | $191,014 | |||
| Retained by STNDRD after rent & NNN (no revenue share) | $191,014 |
The shape of upside.
Even the conservative case clears fixed costs. The moderate case — within reach in year two — is where the model becomes a flagship economic story, with every dollar of net revenue retained by STNDRD.
| Metric | Conservative | Moderate | High-Impact |
|---|---|---|---|
| Active members | 450 | 600 | 750 |
| Blended ARPU | $245 | $252 | $257 |
| Gross revenue / mo | $152,880 | $207,965 | $262,570 |
| Variable costs / mo | $9,630 | $13,050 | $16,560 |
| Ops + Marketing + Occupancy / mo | $52,596 | $53,796 | $54,996 |
| Net revenue / mo | $90,654 | $141,119 | $191,014 |
| Annual net revenue | $1,087,848 | $1,693,428 | $2,292,168 |
| Revenue / SF / yr | $240 | $326 | $412 |
A 10-year NNN lease with meaningful landlord participation.
Fitness Therapy LLC d/b/a STNDRD has offered to lease 3150 Campus Drive from Carstens Realty through Matthews Real Estate. The landlord funds ~$225K of base building work and a $30/SF TI allowance, and STNDRD pays no base rent until six months after opening — keeping the ramp window clean while STNDRD retains 100% of net revenue. No revenue share, no percentage rent.
Occupancy Economics
- · Base rent $2.75/SF/mo NNN ($21,051/mo) yrs 1–5, stepping to $3.08/SF/mo ($23,577/mo) yrs 6–10 — 12% every five years, no annual bumps in between
- · 6 months of abated base rent after the Rent Commencement Date, plus rent-free possession through design, permitting, and construction
- · Rent commences only at certificate of occupancy — no rent during build-out
- · NNN pass-through of taxes, insurance, and CAM (est. $0.45/SF/mo), with controllable expense increases capped at 5%/year
- · Security deposit of two months' base rent, reducing to one month after 24 months clean
- · No revenue share — STNDRD retains 100% of net revenue after rent and NNN
Term & Build-Out
- · 10-year term with two 5-year options; option rent capped at 105% of prior-period rent
- · Landlord funds ~$225K of base building work — full fire sprinkler system and vault/dumbwaiter removal with structural infill
- · $30/SF TI allowance ($229,650) — unused portion applicable against base rent
- · STNDRD funds FF&E, equipment, branding, and tech stack
- · Off-ramp protections: CASp review within 90 days and permit/approvals condition at 180 days — both with full deposit refund
- · 24/7 building access, monument + building signage rights, free common-area parking
A premium club that works at every fill level.
STNDRD takes 7,655 SF across two floors at Laurelwood on a 10-year NNN lease, funds the build-out through its ownership group, and operates a membership-led club capped at 750 members. There is no revenue share — STNDRD retains 100% of net revenue after staffing, marketing, rent, and NNN — so the incentive to fill the club and keep it full sits entirely with the operator. Even the conservative case, which assumes only the 450-member goal is reached inside 12–16 months, covers every fixed cost with roughly $91K per month to spare.
Next steps.
- 1. Space walkthrough — STNDRD operations and Laurelwood leasing review the two-floor plan together
- 2. LOI executed — Carstens Realty issues the formal lease draft within 5 business days
- 3. Build-out scope locked — construction schedule targets opening 8–10 months post-LOI
- 4. Pre-sale begins at lease signing — Legacy memberships open first and set the ramp for the 450-member goal