BUA FIT

Idea

Introduction

BUA FIT is the platform for outdoor and online fitness. We connect fitness professionals to consumers for group classes using e-commerce technology built for social interaction.

The majority of trainers are self-employed and many of them struggle to grow their businesses due to a lack of investment, and sales experience. They often pay extortionate rents in gyms, and have low marketing budgets.

We reduce the risks, costs, and the time it takes trainers to start or scale a fitness business outdoors and online.

On the consumer side, finding a variety of outdoor and LIVE online classes in one place, personalised to consumer needs can be very difficult. Nearly half of the people who sign up to gyms don’t use their membership, as they lack motivation and the training isn’t personalised to their needs. Group classes are often limited in space, and it can be expensive to get a trainer 1 on 1.

With BUA FIT, consumers find an array of live outdoor and online classes without any contract, in a few clicks. They can browse the platform, find classes and trainers which fit their needs, and easily book. So consumers exercise in an environment where they feel super comfortable, keeping them healthy, happy, and coming back to BUA.

Days into lockdown with the confirmation of the closure of the outdoor fitness model BUA created its own online fitness platform to stay in business; BUA LIVE. We offer a safe, secure platform where consumers and trainers interact in real time. We have designed the IP and the tech is custom made for fitness classes.

Substantial accomplishments to date

- Supported by Google for Startups and London Sport’s Sport Tech Hub.

- Nominated for London Start-up of the year by Hackernoon.

- Over 9,000 consumer bookings with 3,000 classes connected on the platform.

- Previously closed an oversubscribed funding round of 136% on Seedrs.

- Voted as one of the mobile startups to watch for innovation.

- Built BUA Live in response to lockdown restrictions to enable online group fitness classes on our platform.

- Voted as one of London’s best wellness start-ups to buy from.

- Over 4,600 members on the platform, with a 20% user retention rate.

- Won business with FTSE 100 and Fortune 500 brands.

- Recognised as one of the top social startups to follow in 2021.

- Users in Brighton, Cambridge, Ireland, Spain, France, Italy, Ibiza and Trinidad & Tobago.

- 325 connected classes completed in May 2021.

- The Co-Founder of a publicly-listed online marketplace is on our team, as well as several professional athletes.

- Total team of 9 (full-time and part-time).

*Based on unaudited management accounts.

Monetisation strategy

We make money from 4 commission models ranging from 5% to 30% when we connect training businesses to clients. We charge more when we deliver new clients to a trainer versus trainers running their entire business through the BUA platform with their existing clients.

Consumers can also bulk buy classes with BUA credit class packs that can be personalised for the trainer. We are also planning to launch our subscription model for customers to have unlimited outdoor and online classes.

Alongside charging commission on classes booked, we’ve curated bespoke B2C and B2B wellbeing solutions for corporates, charities, from start-ups to the Fortune 500, under our BUA private umbrella.

For example:
- Working with HR departments of TfL and Facebook to give employees discounted fitness rates.

- Working with Government bodies to provide classes where indoor fitness solutions aren't appropriate.

- Chief Supplier of Fitness at The Women In Technology World Series (with Michelle Obama headlining).

- Private classes for corporate events with Starbucks.

- Custom classes for female teenagers with mental health challenges.

- Pre and post-natal groups aimed at families who cannot afford babysitting and gym memberships.

Now the platform is established, our aim is to grow the number of bookings, classes and users on BUA to maximise revenue. We want to become a global fitness brand, focusing on connecting supply and demand in the UK, Europe, the US and Australia.

The heat map below illustrates the location of the 325 classes that took place over a month in London - there's lots more places to conquer.

Use of proceeds

- Expand the team:

We need to hire a B2B Sales Account Manager to assist the trainer portfolio and ensure effective growth of corporate accounts on the BUA platform.

- Increase bookings and revenue through marketing:

This marketing capital will help BUA spread through London and other UK regions.

- Grow our B2B side:

Looking to build out our subscription base and work with many more corporations.

- Product extension:

We plan to invest further in platform development and design.

- Pre-seed top:

To get closer to the perfect product market fit.

Our mission is to empower trainers to succeed and inspire people to live happier and healthier lives. BUA means victory in Gaelic and with your support we’ll be one step closer to victory in connecting the fitness industry, so both sides WIN!