Fit Kit toiletries rejuvenate the body post-exercise using natural, active ingredients - 1064 stores.
Business overview
| Location | London, United Kingdom |
|---|---|
| Social media | |
| Website | fitkitbodycare.com |
| Sectors | Travel, Leisure & Sport Non-Digital B2C |
| Company number | 10455133 |
| Incorporation date | 1 Nov 2016 |
Idea
Introduction
53% of the population work out at least once a week, creating a huge opportunity for a bespoke toiletry range designed for exercisers.
Fit Kit’s range of daily toiletries is designed to rejuvenate the body after exercise.
Our Shower Gels & Moisturisers use natural active ingredients to achieve specific results:
Muscle Cooling Shower Gel - to ease tired muscles.
Clear Breathing Shower Gel - to relieve nasal congestion.
Skin Soothing Shower Gel - to soothe abrasions.
Cool Down Facial Moisturisers - to reduce exercise redness.
Founder Jeremy has 10 years experience in product innovation at companies like Nestle & Danone. The team consists of Nicole McDonnell former Global Marketing Director for Ella's Kitchen, Judi Beerling former Chair of Cosmetic Scientists and Initials Marketing who developed the branding.
Intended impact
The idea for Fit Kit came from founder Jeremy's own frustration. Like most people who exercise he had aches and pains after working out. He then used products like cooling sprays, nose strips or rubs to bring his body back to normal. But he found these remedies inconvenient as he would forget to take them to the gym or they would just be time consuming to use.
He came to the realisation that combining the benefits of these traditional post-exercise remedies into everyday toiletry products would be the most convenient solution.
He prototyped the idea and tested it with basic packaging in gyms and natural stores. With the results of his test, he persuaded industry experts in branding and toiletry product development to work with him on an equity basis to create Fit Kit.
Fit Kit believe their point of difference is to replace their customer's basic everyday toiletries with ones that have benefits catering better to their active lifestyles.
Substantial accomplishments to date
Fit Kit was launched in November 2016 in the natural retail channel where it was felt that we could test our products with consumers who have healthy lifestyles. The brand has grown substantially in this time and is now in 1064 UK retailers and exported to the Nordics and Benelux.
Sales Achievements
• 225% Sales Increase (YTD 2017 v. 2018)*
• Listed in 1064 UK retailers
• Stocked in national retailers – Waitrose, Holland & Barrett and Ocado
• Stocked in key natural retailers - Wholefoods & Ethical Superstore
• Exported to the Nordics with Gymgrossisten
Company Achievements
• Launched 3 Shower Gels (Nov 16) & 2 Moisturisers (May 18)
• Fit Kit won Work Avenue's 'Start Up of the Year’
• Certified ‘Natural’ by the Soil Association
• Certified ‘Cruelty Free’ by PETA
• Press coverage in Metro, Fitness, Healthy for Men & Waitrose Magazine
• Manufactured in the UK
*source: unaudited management accounts
Monetisation strategy
Pricing
Fit Kit has a premium mass market positioning. This is justified by its targeted benefits for exercisers and it’s ‘Natural’ certification by the Soil Association.
Our prices are in line with brands such as Bulldog and ManCave that also have natural formulations.
Retail Channels
Our source of revenue is the retail sector which provides 50% gross margins. We believe there is significant growth potential to expand the range to larger UK retailers.
Gym Dispensing
A key future source of potential revenue is through gym dispensing. We believe Fit Kit's benefits appealing to active consumers give Fit Kit a competitive advantage in this market. Additionally, brand awareness gained in this channel will increase retail sales.
Product Development
Fit Kit will expand its range within toiletries. We anticipate growth will come from Everyday Toiletries such as deodorants & shampoo and in Skin Care such as body lotion and scrubs.
Use of proceeds
Team Development (47% of investment)
Fit Kit's core team requires 2 full-time hires in marketing and business operations.
In addition to support business efficiency consulting support is required covering product development, management accounting and manufacturing.
Product Development (13% of investment)
We aim to double our range from 5 products to 10 products by expanding our range of everyday toiletries.
This will enhance the credibility of the brand through additional functional products and increase our shelf presence to boost brand awareness.
Online Media Advertising (17% of investment)
Online sales is a key opportunity for Fit Kit as our target consumer are frequent social media users to assist them in maintaining their healthy lifestyle.
Therefore online media advertising and campaigns will build our brand awareness and grow our community.
Gym Community Product Trial (23% of investment)
We will seek to build a strong community of Fit Kit advocates. Our strategy is to do this through giving our target audience greater opportunities to trial Fit Kit at events and locations they attend.
Market
Target market
To identify our target group we worked with What If! Innovation to produce focus group research.
We spoke to different groups, all divided by exercise frequency.
We found the group interested most in Fit Kit's concept exercised 2-4 times a week.
Mintel have identified this is a significant 25% of the UK population and indicated they're predominantly located in urban areas.
We found our target group aren't a specific age or body shape, but instead they shared a desire to 'feel better' through living a healthy lifestyle.
This group are time poor ABC1 consumers and one of the key motivations of exercise is not to improve their cosmetic appearance but to give them the 'energy' to support them in managing their busy lifestyles.
Therefore a life hack product like Fit Kit which provides them with the after exercise benefits they seek in a convenient format proved very appealing in our research.
Characteristics of target market
Fit Kit's target group are 25% of the UK population that exercise 2-4 times per week.
Mintel have indicated that 1/3 of the UK population now feel better than last year which indicates our target group are likely to grow further.
This statistic demonstrates that exercise has now moved from being a hobby to something that the average person incorporates in their lifestyle.
Our research suggests that the change in this attitude to exercise has been driven by some key sustainable trends such as:.
Nutrition: 52% of the population seek lower sugar content.
Wellness: 34% of population exercise to reduce stress.
Technological: 35% of the population interested in health tracking.
These consumers have demonstrated a desire for products in various categories that support their healthy lifestyle such as Vitamin Drinks, Protein Snacks and Probiotic Yogurts.
Marketing strategy
The objective of next year's marketing strategy is to build an exciting community of Fit Kit consumers.
The benefits to the brand will be higher awareness, greater value to the consumer beyond product and consumer loyalty.
We will do this online through providing valuable content to our community to help them improve their wellbeing.
Offline we will use our additional team resources to add value and build relationships within exercise events, gyms and via relevant influencers.
We will also support the above strategy through PR and In-Store Marketing.
Competition strategy
We feel Fit Kit has a point of difference compared to other sports toiletry brands. They predominantly just offer standard toiletry characteristics without offering benefits which ease discomfort after exercise.
Fit Kit initially launched within the Male Toiletry market. We've found that over 50% of the brands in the market were developed before 1990 and that due to male grooming taste changes these brands - such as Lynx, Adidas, Nivea, Gillette and Right Guard - have either stayed static or declined.
The growth in the market is coming from brands with natural ingredients and ethical business models. Fit Kit reflects these trends with natural formulations, cruelty-free testing and UK based production.
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