FityessA DISCOVERY PLATFORM FOR FITNESS AND WELLNESS SERVICES

Executive Summary

The health and fitness industry in the country is highly disorganized. There is no way to compare price or facilities provided by fitness centres

There is no benchmarking of prices, qualifications or facilities and there is confusion regarding what is suitable to your fitness goals

Fityess is a one-stop-destination for fitness enthusiasts looking to find and book fitness activities. It is supported by credible fitness content, community platform and an e-store

Fityess aims to create the largest marketplace- cum-ecosystem for the fitness and wellness industry in the country

Situational Analysis

Discovering information on workout, nutrition, sports etc. is cumbersome

Fitness content available for Indian fitness enthusiasts lacks practicality and does not come from a validated source

Market Opportunity

According to PWC, the Indian health & fitness market touched Rs. 1 trillion in 2015. It is expected to grow at 18% CAGR

The major drivers of the growth are sedentary lifestyles, unhealthy eating habits and growing disposable income

Currently, the user relies on local search engines (like Just Dial) or word-of-mouth, being unsure of its reliability and validity. Also, the process of trials and figuring out the right option is taxing

Convenience is a key missing element here. Fityess resolves this problem by making the required information available on smartphones

Offerings and Core Competencies

An opportunity to connect with like-minded people to work out with and discovering fitness and diet counseling options

A discovery tool based on Google Maps to help people find fitness services in their vicinity

Detailed listings with HD images, 360 degree panoramic views, membership details, offers, trainer profiles, user reviews and ratings

Ability to book trials over the phone and access to the best deals, combos, and niche products

Target Audience

The potential customers are in the age group of 18 – 25 years & 26 – 55 years staying in metro, tier I and tier II cities

These are people with access to smartphones and internet and can be majorly segmented into two major groups:

1. Those who want to stay fit but don’t have the right resources

2. Those who are already into fitness but yearn for more

Collaborators

Collaborators include fitness centres, gyms, personal trainers, dieticians, nutritionists, martial art centres, dance classes, yoga classes and aerobic classes among others

Value Proposition for Collaborators

1. A great platform to generate brand awareness and fill up empty seats/hours by attracting new customers

2. Generating user reviews and feedback for its services, which would help businesses improve

3. Access to user engagement data to track consumers and their behavior, thereby enabling businesses to tailor their products and marketing strategies accordingly

4. Helping people who do not have their own studios but are freelancers get recognition and work

Competitor Analysis

Two major competitors:

1. Gympik2. Fritternity

Points of Parity

1. Discovery platforms based on Google Maps

2. HD images, 360 degree panoramic views, offers, trainer profiles and ratings

Points of Difference

1. An app based diet counseling service

2. An e-store for selling fitness and nutrition products

Sources of Revenue

1. Paid banner ads

2. Promotion programs for service partners 3. Revenue from sale of products on the e-commerce portal

Pricing Strategy

Selecting the pricing objective

Determining Demand

Estimating Costs

Analyzing Competitors’ Costs, Prices, and Offers

Setting the final price

The App will be free for the end users. It will however follow a freemium model for listed businesses

Features in the free version

1. Listing Space

2. Search results based on ratings irrespective of being a free user or a premium one

Features in the premium version

1. Banner ads

2. 360 degree panoramic view of location

3. Access to user engagement data

Communicating benefits to consumers

1. Via fitness centers and professionals listed on the platform

2. Word of mouth

Further

1. Leveraging Social Media to draw users

2. Incentivizing referrals

3. Using App Store Optimization to improve user engagement

Organizational Structure

Fityess

Technology Marketing Business Development Content Finance Human

ResourcesCustomer Services

Implementation

Build business listings

Communicate benefits to users

Analyse user engagement data to improve UX

Build brand by associating with health & fitness events

Build B2B partnerships

Goals

First Year

1. 10,000+ listed businesses

2. 1 lac+ registered users and atleast 25,000 active users

3. Revenues of over Rs. 1 crore by listings on the finder platform and e-store

Second Year

1. Over 5 lac registered users

2. Over Rs. 10 crore in revenues

Disclaimer

This presentation has been created by Sanchit Chopra, a student of Netaji Subhas Institute of Technolgy for an internship programme under Prof. Sameer Mathur,IIM Lucknow