iamYiam, a globally curated biotechnology and wellbeing platform is revolutionising the way we approach wellbeing by combining ancient wisdom and modern health practices to provide personalised and actionable natural health plans. Described as the Airbnb of Natural Health Experiences, iamYiam brings together London’s leading practitioners of natural health (such as yoga, Pilates, acupuncture, reflexology etc.) with consumers and makes it easy to book the most appropriate experience for their needs and goals. Wellbeing plans are tailored to clients’ personal needs which are identified through genetic profiling, scientific recommendations and individual wellbeing goals.
iamYiam has built an algorithm based on a large number of academic research papers and genetic markers which helps pinpoint which therapies are best suited to an individual depending on their requirements, be it sleeping better, reducing anxiety, lowering stress, recovering from injury or enhancing overall wellbeing.
OUR GOAL: improving the health & wellbeing of 1bn people by 2025 with
- CLARITY : we research existing scientific data, connecting ancient health practices with academic research & genetics, and we distil it for you in an actionable plan.
- REDESIGN: we handpick remarkable practitioners to encourage you to experiment and develop your healthy lifestyle.
- PERSONALISATION: we built a proprietary algorithm that tailors your plan to your genetics. This is aimed at ensuring greater engagement & higher success rates.
Over the past decade, the wellness industry has become saturated with dos and don’ts and dominated by terms such as “gluten free,” “vegan,” “sugar free” and “superfood.” Whilst this growing awareness is beneficial, the frenetic pace of life for many Londoners means people often search for a quick fix, a restrictive diet or short-term exercise plan rather than a more comprehensive approach to overall wellbeing. Many people plump for a particular option without understanding the real benefits, and therefore find it hard to achieve anything worthwhile.
Not only are the handpicked practitioners experts in their field, the world-class iamYiam team itself is comprised of therapists, medical scientists, strategists and award-winning creatives.
Founder and CEO, Lorena Puica is a published author and extreme athlete. Last year, she ran no less than 7 marathons in 7 continents in 10 days for charity. Her obsession with all things wellbeing began many years ago, and in July 2015 iamYiam was born. By organising and simplifying access to the wellness market, iamYiam aims to be the world’s natural health and wellbeing hub.
We are all riding the wave of natural health. We believe that we are at the right time, the right place - doing the right thing!
You will never look back!
Substantial accomplishments to date
- 2x Financial Times
- Get the Gloss: http://www.getthegloss.com/article/extreme-girl...
- Sustain the Glow: http://sustaintheglow.com/the-experts-lorena-pu...
- www.iamyiam.com - Launch on 4th of Feb at the V&A Museum
- 120 practitioners & videos - samples : https://www.youtube.com/channel/UCWrJoXZqcpTrWg...
- proprietary algorithm leveraging a great number of academic research papers and genetic data
- developing proprietary well-being mapping: Ynow 1.0 - questionnaire that leads users to their health goals.
- Natural Office: Back-office for practitioners for booking, scheduling, multiple venues, payment, financial planning & personalised client communications.
- Partnerships: KPMG, GRIFCO PR, Xcode (genetics), Norgen Canada (genetic supplies), Runtime New York (Ruby on Rails) .
- Systems for Scalability: Teamwork , SalesForce , Xero , Stripe , Intercom
- for End Users
- Fremium account- they just pay for the practices they book ( e.g. 1h of Massage £70)
- Premium account - £9 per month ( ultra personalised content , more granular practice recommendations , more granular questionnaires to better understand their health )
- for Practitioners
- Founding Member account - 10% of every booking
- Pay as You go Account - 14% of every booking
- Monthly Subscription - 12% of every booking and £49 per month
- Yearly Subscription - 10% of every booking and £39 per month paid yearly
- Institutional / Corporate Accounts
- white-labelling the platform for insurance providers to offer natural health practices to their customers to increase wellbeing /prevention and reduce the cost of insurance ( licensing & 8% of transactions )
- provide premium corporate well-being programs through our practitioners ( 10% of transactions )
Use of proceeds
- Grow our team with an Evangelist to build our corporate and institutional accounts
- Optimise marketing and social media strategies & implement them
- Build a customer service team to ensure premium customer service at every touch point and receive valuable feedback to further fine tune & expand our offering
- Build a partnership for our Supplements strategy
- Start paying minimum wage to our team of 4 and our interns - all of whom have been working for free and living from savings over the past 6 months :-) My philosophy is that the optimal way to align incentives is for all of us to get something close to minimum wage and share the upside as a function of how successful we are!
The company has a director's loan of £100,000. None of the proceeds of investment will be used to repay this loan.
- Educated , £60k+ yearly income, Sustainability/ecofriendly consumers
Sample data :
- Estimated 3 million individuals practicing yoga in the UK in 2015 (nearly 5% of UK pop.)
- Estimated 1 to 1.5 million individuals practicing pilates in the UK in 2015
-70% to 80% women dominated
-Aged between 25 – 44
-Participation fastest growing in the 18 – 24 age group
-70% are married or living with partner
-80% of them are tertiary or post-tertiary qualified
-50% of them are full-time employed, 20% part-time, 15% self-employed
-Have healthy lifestyles
-25% will have household income superior to £52k per annum
-Living in the UK South-East
-60% practice once or twice a week & 25% practice 3-4 times a week
-Most popular session lengths are 60-70min & 90-100min
-80% do most or all of their practice in a yoga class rather than home
-Practicing Asana & Vinyasa 60% of their time with the other 40% devoted to gentler practices of relaxation, pranayama (breathing techniques), meditation and instruction
-Started yoga for health and fitness but continued for stress management
20% of them practice yoga for a specific health or medical reason
-Health & Fitness as well as increased flexibility/muscle tone are the 2 most common reasons for starting for 70% of them and continuing yoga for 85% of them
-While reducing stress or anxiety was the other main reason for them to start yoga for 60%, it is the reason for continuing for 80%
In 2014, 1.5m Londoners were fitness members. We estimate that their total spending on health & fitness was £1.11bn or £741 on average per head per year…just for fitness!
“Over the next ten years two-thirds of all retail spending growth will come from those aged 55 and over”
KPMG UK 2013
Characteristics of target market
The global well-being market is $3.4 trillion growing at a rate of 15.7% per year.
Specifically the segment that we are targeting is $256bn growing at 24% per year.
The challenges of the market of natural health practices that we see are :
- missing a standard of quality
- short-termed clients ( 3 months average engagement horizon with one therapist / practitioner )
- not truly accessed by professionals due to quality & information gaps
Our solution :
- we aggregate the space by bringing on one platform the most effective natural health practices and most professional practitioners
- we are creating a standard of quality in this space
- we are professionalising a space that has long been thought to be "intangible/esoteric"
- we are making it accessible online - not only as a curated directory of professional & outstanding practitioners - but also a simple 3 steps scheduling & booking platform
We are taking the best of UBER ( accessibility online / on demand ) , AirBnb ( variety and global reach ) and Farfetch ( premium / non-discount online sales with hand-picked suppliers )
We have done a road-show across San Francisco/NewYork & Chicago - and from all our meetings there - no-one has heard of anything in this space .
The innovative elements are :
- scientific approach to wellbeing = Proprietary algorithm
- genetics with calls to action = People want to know what to do next after they get their results ...
- standard of quality in natural health = we have created our own 5 steps vetting process for on-boarding practitioners
- video-based booking platform = we are building engagement with the consumers by creating 1minute videos of each practitioner - so that they can already screen the ones that have chemistry with
We have a 12 months strategic plan that expands beyond services into a scientific approach to supplements and other natural/organic products .