- My name is Larry Nguyen. I am a second year Applied Physiology and Kinesiology major at UF. I am a competitive powerlifter and through my training, I have obtained values and experiences that have shaped my life. I am not certified in any form of personal training however, I program myself as well as others and everyone has seen improvements in both strength and aesthetics. Therefore I consider myself qualified as a trainer. My main goal of this app is to increase health and fitness in the world. Though my training experiences I have witness influxes of people to the gym during certain times of the year such as New Years or fall. However the gym dies down about a month or two afterwards. Those who stick around usually are highly dedicated or have a partner. I can't change their dedication therefore I want to find a partner for everyone to train with. I see this as an opportunity for me to get a foot in the fitness world. My goal is to eventually one day create a training facility that focuses on athletes. The facility will also focus on high school athletes that do not have the funds necessary for hiring a personal trainer. At the facility these students will be able to train for free as long as they are successful in their studies. With the app I am hoping to make connections with other companies that will sponsor the training facility or help with fundraisers.
- The unmet need is, individuals have a difficult time finding a training partner. The service I will be providing is an app that mimics matchmaking. Individuals will input search parameters such as; the gym, the time, the workout, and gender of the partner they want. This will match individuals with those that have the same parameters entered. After the match, the two can agree to workout together or not. If they agree, information they would like to shared will be shared such as their profile. As a privacy concern, individuals can choose to remain anonymous during the matchmaking phase however once both have agreed to workout together their identity will be revealed. The app will act as a social media app as well in which individuals can create their own fitness profile, here they can share videos, photos or even blogs. The app will also have a calendar for each gym in which individuals can post on. For example I can post on the calendar that on March 3rd I will be doing a chest workout at 3pm. This will also make the matchmaking process easier because a time is set in advance which allows others to adjust their schedule if they want to workout with me. The calendar can also be used to set up other activities at the gym such as a basketball game. Someone will create an event on the calendar for a particular day and time and people can come and play. The app will contain a store section. The store will contain products from clothing to supplements. They will also contain user reviews on each products to make the buying process easier, especially for new gym goers. There will be a top 5 ranking for each category of products to make the buying process even easier. All these features are of the free version. For $1 a month individuals will have access to published workout programs, dietary resources and a workout tracker. The workout tracker makes it easier to log one's workout. Usually individuals will carry around a notebook and pencil to complete this task because their isn't any easier way. However with the tracker they can track their workout by inputting the weight, workout and reps. This makes it easier because most individuals already have their phone with them at the gym, so a notebook and pencil is no longer necessary.
- The app wil contain advertisements from companies that are in the fitness industry. They can pay different fees for the type of advertisements they want. Examples include banners at the top or bottom or a 5 sec screen advertisement. Because the app is designed for individuals in the fitness community, these companies will be advertising directly to them. Individuals who are new to working out are viable customers for these brands to attract. Once an individual selects a brand they usually stick to that one brand for a while, increasing repeat revenues for these brands. On average $130 a month is spent by Americans on fitness related products such as clothes and supplements. Therefore this will be a great opportunity for businesses as well.
Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?
- My customer base is very broad. The main similarity between them is that the workout at a gym. The free version of the app will be targeted towards those that want to workout with others at the gym but have a difficult time or simply can't find anyone to workout with. It can also be used by individuals to plan a game of sports at the gym such as basketball. The subscription version is targeted towards any gym goer that needs help with programs, diet or a way to track their workout or diet. The workout programs and dietary resources are mainly for those who do not have a trainer or coach to program for them. The workout and diet tracker is for anyone who needs it but is mainly targeted towards cross-fit, powerlifting, strongman and weightlifting athletes. These individuals usually track their workouts to track progress,as a log to refer to when creating a new program, and to report to their coach or trainer. In terms of gender, religion, politics and location the app is for anyone in those categories as long as they fit one of the above categories. Because it is an app, having a smart phone is a requirement, therefore a common characteristic of the customers is that they have a smart phone.
Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service.
- The solution to the unmet need is free therefore individuals do not need to pay to use it. However I believe the will use it because statistics show that only 20% of gym memberships in America are actually used. That means 80% of the 54 million individuals who have a gym membership are simply wasting their money on an unused service. I believe they will use the app so that they are no longer wasting money on a gym membership. Study shows that the majority of individuals who quit going to the gym do so because they do not have a partner to go with. Therefore my service will be valuable to them. The subscription version of the app cost $1 a month. This is not even 1% of the $130 average individuals are spending on fitness related products a month. Therefore I believe that the benefits of the app will lead them to purchasing the subscription. It will make it more convenient to workout because their workout tracker and workout plan is in the palm of their hands instead of a notebook they have to carry around. Many individuals also do not want to pay for a personal trainer therefore they will be wiling to pay $1 a month to access a range of workout programs that have proved to be successful.
- For businesses my approach is targeted towards both new comers and regular gym goers therefore their marketing audience will involve the masses. Whereas other services target a specific group so it will be much more cost efficient to work with me. These companies can also build loyalty within the new gym goers. These will result in a constant flow of revenue from these individuals. Also they will get free advertisement from the individuals who use their product as well as the top 5 product list that will be in the store section fo the app.
What sets you apart from everyone else? Also: what do you have that nobody else has?
- The main difference from me and everyone else is that they are trying to exploit the customers whereas I simply want to increase fitness in America. I have used many fitness apps in which there is a free version and a subscription version. The free version will be very basic and not even serve its purpose, whereas the subscription version will satisfy the unmet need. My approach is different. The free version will satisfy the unmet need of the customers. My subscription version is to enhance the unmet need and explore other small unmet needs. For example it will solve the problem of having to carry a notebook and pencil around if someone was trying to track their workout.
- All the elements fit together, however my skills lack. I do not know how to create an app therefore that is a skill that I need to learn. My experiences as an athlete and a trainer are also not quite helpful in the actual development of the product. My experiences only helped formed the idea of the app. To help with this I have formed a relationship with a computer science student that would be willing to work with me on this app.
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