Fitness Link
Making Fitness Easier
Fitness Link provides personal training using live video, specialized in Mind Body Fitness.
The health industry is continuing to reach new heights, as people all over the world are becoming increasingly interested in fitness and overall well being. U.S. health club industry revenue reached $21.4 billion as memberships totaled 51.4 million in 2011 (International Health, Racquet & Sportsclub Association (IHRSA).
Consumer behaviour is changing as well, as users embrace new technologies. It is estimated that 96% of American adults who use the Internet use it to look up health information and are open to many different health options(McKinsey Research Report). However, as our lives become increasingly busier and we work more and more, finding time for fitness or working out is diminishing.
What if fitness could be easier?
Fitness Link is an online platform that is aimed at making fitness easier and accessible to everyone. It allows users to book training sessions specialized in mind body fitness and complete their workouts from home or anywhere, through the use of their webcam and a live conference session.
Users can choose from group ($20 per session), or one-on-one session ($50 per session), with different price points designed to be affordable for everyone. Additionally, users can have the option of getting feedback on their workouts and improve their posture over the course of time for an additional small fee ($20 per video). Video’s with revisions can be downloaded within 30 minutes after each session.
A closer look at how it works
Fitness Link will ensure that you have everything you need for your workout. You can easily connect to the conference session with the use of your laptop and a webcam. A kit containing all the equipment needed for the workouts will be delivered right to your doorstep. There are an array of experts to choose from with specialization in yoga, pilates, strength training, and even meditation. A flexible schedule allows users to set up a time that works for them anytime during the week or on weekends.
Marketing Strategy
The marketing strategy consists of an online and offline strategy. The offline strategy is based on targeting specific corporate offices around the U.S. through a series of events showcasing the platform. The website is lead by an well known expert in the Mind Body Fitness field, who brings with them a wealth of knowledge and already established clientelle. This expert will lead each event by teaching a class to attendees. Clients can have a taste of what it’s like to work out with a Guru first-hand. The guests will then receive vouchers to try a free online class over the platform.
The online strategy will have a strong focus on social media, as the concept itself is strongly based on new technologies.
Financial Analysis
The initial cost of investment for the project is $168,000 and consists of: $60,000 for website and software development, and $150,000 in administrative staff costs. The first revenues will be seen in the second half of the second year. The revenues by the end of the third year of operation are projected to be $348,352. Major revenues are from class purchases, and additional revenues are gained from merchandise sales.
