Viva la Vita
- Investment sought:
- Equity offered:
Viva la Vita would be an iOS application providing a handpicked shortlist of the best fitness classes happening today and tomorrow, bookable with just a few taps. Proof of purchase will be stored within the application as a ticket for reference and admittance. To begin with, a simple interface will refresh daily displaying the current deals available to purchase.
We will aim to display premium, quirky, niche and inspiring entries. We aim to act as a discovery tool for discovering classes that the consumer may not have known existed or thought to have attended themselves.
VLV will aim to display these offerings at a discounted price but this will not be the main incentive for using the app.
We plan to take advantage of the demand for last minute, handpicked deals that are quick and easy to book through apps.
VLV hopes to mirror the success that other disruptive apps have recently experienced in their chosen fields. They validate an appetite for spontaneity in the market.
Hotel Tonight is the first app to match people who need a hotel room with empty hotel rooms tonight. YPlan is the first app to match those wanting to go out with otherwise unsold tickets to events happening today and tomorrow.
VLV plans to disrupt the fitness industry. We aim to match those wanting to get fit and try something new with otherwise unoccupied spots. VLV aims to change the way people book and engage in fitness.
VLV will allow fitness providers to:
- sell spots in classes that consistently do not reach full capacity
- generate revenue from empty spots
- sell spots in a shortlist and so increasing the likelihood of being booked
- choose how many spots they offer
- choose the price of a spot in the offering
- choose the discount offered
- get new customers through the door
- sell these spots in a hand picked environment so as to not devalue their offering
VLV will allow the consumer to:
- book a class with a few taps
- exercise on an ad hoc basis without being tied into a gym membership
- get the best deal
- attend classes they would not otherwise have had access to and had they had would not have thought to attend
Substantial accomplishments to date
- Viva la Vita Ltd has been incorporated.
- domain names secured: www.vivalavita.com and www.vivalavita.co.uk.
- Facebook username secured
- Twitter name secured
- produced company logo and branding.
- produced app icon.
- produced company holding page (we hope to have a completed website very soon).
- produced promotional video.
- MVP of Facebook-integrated iOS mobile app created.
- Ruby-on-Rails back-end content, booking and registration system created.
- alpha test completed.
- founding team established.
- approached several potential partners with a view of working alongside VLV and selling their unoccupied spots. Demonstrated MVP, with positive responses and an agreement to take part in a beta test.
Initially VLV intends to earn revenue in three ways:
1. Commission made from bookings made through VLV (main revenue stream)
2. Charging gyms to promote their free day passes on the app
3. Commission made from fitness providers adopting an online management database that we have partnered with.
Use of proceeds
VLV intends to use the money raised through Seedrs to fund the remaining development of the app and website, its launch and to cover initial legal and marketing costs.
Initially, we will be focusing on fixing bugs that were identified during the alpha test. We will then look to further design and implement payment, booking and iOS passbook features. A referral scheme feature will also be incorporated into the app.
Beta testing and UX testing sessions will follow. We will engage with our testers, and upon launch with our early adopters within the fitness and tech community, gain feedback and develop the app accordingly. Once we are satisfied that our product is market fit we would invest in a sales member to accelerate the formation of partnerships with fitness providers and in marketing in order to push downloads and usage of the app.
Both men and women in London, aged 25-34, ABC1C2 Social Grades, participating in exercise at least once a month but less than once a week.
This type of sporadic exercise regime is most prevalent in under-35s.
Characteristics of target market
The size of the Health and Fitness club market (members) is just under 5.3 million -we believe that approximately 1 million are located in London.
The average cost of a gym membership is £40 per month, which is expensive if not used often. A high proportion of Londoners cease using a health or fitness club because they don’t go as often as they had hoped, implying that it is quite difficult to maintain a regular fitness routine.
We have found that approximately 25% of Londoners choose some form of fitness class over the use of the health and fitness club as well as just over half simply cannot afford a lengthy gym membership.
“Increased flexibility” is key to encouraging potential fitness class attendees and/or gym goers, with 53% favouring a pay-as-you-go option.
In our experience only around 10% of Londoners visit a fitness club at least once a week compared with approximately 50% in the last 12 months, which highlights the irregularity of exercise.
We plan to launch a beta test in early 2014, working with, amongst others fitness bloggers and tech influencers. The intention is for these individuals to become the earliest advocates of VLV following launch.
We intend to implement certain features that will encourage VLV's users to 'spread the word' to our target market. The intention is for a referral scheme to be put in place. We would give credit to friends who a user refers to the service, and further credit if that friend purchases a class ticket through the app. At various points during the process of booking a class through the app, our users would be encouraged to share their class bookings throughout their social networks.
An emphasis on health and gym incentives for employees has emerged in companies recently. VLV will aim to take advantage of this by working alongside companies to offer credit to their employees to spend on booking and attending fitness classes through the app.
Time will also be spent on the use of social media in order to prepare for official launch.
Mobile app ads for installs through Facebook would be used as a tool for reaching our target market and driving downloads.
We do not believe we currently have any direct competitors. We therefore hope to have the advantage of being first movers in this market.
VLV will succeed against future competitors by ensuring that our backend will have the ability to hook in through API integration to various systems. We plan to be integrated with the backend systems of those we partner with.
We intend to work on some unique algorithms which will determine the best offerings for a particular day. These will be criteria such as location, discount offered and numerous other factors.
VLV will be choosey about what classes are featured each day. The aim will be for our users to know and trust that we are offering them the best classes.
Our name also provides us with the option of eventually widening our offering to more than just fitness classes, which we eventually intend to do.