Formyfit

Participatory notes Belgium
First Running App with endurance tests, performance prediction and personal coaching to reach your goals
€1,000,000
Pre money valuation
33.3%
Equity offered
€20,100
Already invested by crowd
€35,398
Committed by pros
0 days
Remaining
€50,000
Crowd target
40.2
Already 40% crowdfunded
This campaign ended on 2016-12-22

Formyfit is a running application. Thanks to a voice coach and 100% individualised workout plans, it offers runners a guarantee of progress without risking their health. In just a few clicks, runners can learn about their potential to progress and then subscribe to their 100% personalised training plan that will allow them to achieve their goals. From then on, runners are guided by the voice coach throughout their various workouts. They also have the possibility, when they wish, to carry out an endurance test to see their evolution.

Our fundraising goal is to accelerate our growth by positioning ourselves as a key player in the e-coaching sector worldwide.

 ik heb in 1u31  gelopen.in vergelijking met de 2 uur van vorig jaar  dat is een verbetering van 29 minuten. de formyfit methode is veel minder volume  maar veel effectiever   1

Problem

Whatever their level, runners often face the same problems, questions, and doubts:

How can I train to make progress? How do I avoid my sessions being monotonous? How do I optimise my training in relation to my availability? How can I ensure that I do not risk my health during my sessions?

From a 5km to a marathon, anyone who runs will one day be faced with these questions.

Runners seek out their own solutions. That leads to spending hours online looking for training methods, getting tied up in multiple pieces of advice that are often contradictory and/or eccentric, or worse, relying on training methods that are dangerous for their health.

Without professional guidance, the runner wastes a lot of time for below expectation results, increasing the risk of injury and abandonment.

Given that running is attracting more and more followers, it was time to make professional support available to all athletes who put in so much effort to take care of their health .

Solution

Oplossign  3

Formyfit is an application that generates a 100% customised training plan, together with a voice coach, to allow each runner to progress efficiently and safely.

This new running experience is based on the complementary expertise of a multidisciplinary team: a renowned coach, a cardiologist, a motion science graduate, high-level athletes, and developers.

Together they have created an algorithm to safely help runners progress at the right pace to achieve their goal.

It is this algorithm that will generate the 100% customised plan. Upon entering their personal details into the application and by carrying out an endurance test, Formyfit provides a workout plan based on their profile, their level, their goal, and their available time.

During training, the runner only has to be guided by the voice coach, who will give them the heart rate (or speed) to follow during each exercise. The voice coach, in the meantime, will tell them to speed up or slow down their pace in line with what their workout plan advocates.

Based on the heart rate of each runner, Formyfit's workout plans offer a novel medical dimension.

Intellectual Property

Intellectual property issues have been organised in collaboration with the law firm LENOIR & CO so that they are 100% the property of Formyfit.

In organising intellectual property, focus was placed upon:

- Assignment of founding authors’ rights
- Assignment of developer rights
- Assignment of trademark rights
- Registry of the Formyfit brand at the European level
- Privacy protection

Strategy

Marketing strategy

A digital marketing strategy is in place in order to reach the target audience: runners searching for progress who are equipped with and connected to a smartphone.
Online marketing through sponsored ads on Social Networks and Google Adwords allow us to reach out to our prospective clients.
The process of registering and getting to know the application aim to show runners the progress they can achieve with Formyfit, so they can then sign up for our subscription.
The marketing emails then take over: either to convince the remaining undecided individuals or to support customers throughout their training, providing them with a unique customer experience.
An offline marketing strategy is also in place to publicise Formyfit - forming partnerships with various sporting events, event participation (for e.g. The Paris Salon du Running, April 2017)…

Distribution strategy

Formyfit's distribution strategy is primarily Online: subscription purchases are done directly via our website or through the smartphone app (AppStore and PlayStore).
Formyfit is also in discussion with online "running" distributors to offer subscriptions via their webshops.
Finally, Formyfit has also reached out to the B2B sector, offering businesses subscription packs for their teams.

Internationalization strategy

Our application is already available worldwide in French and English. We already have subscribers from across the Atlantic.

This campaign ended on 2016-12-22

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