September 2019 Updates

Hi guys,

Wakie wakie...who's ready to get KAZAAAAMED?

We wanted to start this blog to share with you guys what's been going on over the last couple of months and what we're focused on accomplishing over the next couple of months.

Since these updates are more frequent, it lets us share news but not have to email then out every time. We’ll leave the email newsletter for the major updates.
We would like to share as much as possible with the community so that you guys are aware of our daily and weekly progress in our effort to make the Kazam Gymnastics program a reality.

Quick OGC Recap:

In the middle of the Summer session, OGC came to us with a new agreement that completely changes the way we have been doing business with them for the past 3-4 years.

This wasn't something that we have asked for and we were surprised when it was introduced to us.

We have been working hard with OGC to come to an agreement and as you guys probably know, legal negotiations take a while. Hence the reason why the Fall session has been delayed so far.

The good news is that we are in the final stretch of the negotiations. We have agreed on all the terms and conditions and we’re providing OGC with the required documents for approval.

Space update:

Our goal is to get a space that has a great location for our current and future members and would allow us to grow over the next few years.

The offer on the Carling location wasn't a success because the city didn't allow recreational facilities in that neighborhood. The offer on the St. Laurent space was rejected because another tenant came in with a longer lease and deeper pockets.

We have currently narrowed down on 2 locations, one on Colonade and the other on Star Top.

Our goal is to find a space that is closer to the city, we are still on the hunt.

Funding update:

The Indiegogo campaign was a huge success and Indiegogo has locked in those funds for disbursement when we need them.

In parallel, we are in heavy discussions with 2 commercial banks and BDC to secure the remainder of the required funding as a loan. Those come with their own negotiation and due diligence. The conversation have been positive so far.

Our goal is to have enough funding so that the business can sustain itself and deliver amazing quality programming to our members.

We hope that these frequent updates will give you an insight into our weekly progress and activities.

We appreciate any feedback or comments. Please email us at alex@alexkazamgymnastics.com or dani@kazamgymanstics.com and we'll be happy to chat.