The founders were looking to raise capital from private investors to strengthen their team and partnerships with fitness centers.
On-demand has become the way of life, especially in the last decade. From radio cabs, to food, and accommodation, on-demand services are available at the tap of a button. On-demand or pay per use model has disrupted resistant companies and industries rapidly. On the other hand, most of the fitness chains still followed the conventional business model of upfront fee.
Our client felt that the members shouldn’t be forced to work out at the same gym round the year. Besides, they believed that members should get access to a variety of workouts. They also advocated the pay per use model. They were confident that there was a massive unmet need of fixing this model.
They learned that many gym slots remained unmonetized beyond peak demand. They believed that the resistance to change, rigid pricing, and lack of innovation led to these avoidable problems.
The client offered its members the flexibility to work out at gyms of their choice. The subscribers could access variety of workouts without yearlong commitments. On the supply side, they partnered with the fitness centers to develop offers that helped them monetize their unsold slots.
The founding team had a working MVP and was gaining momentum in seed stage.
