NAVIGATING ENTREPRENEURSHIP

GROUP ASSIGNMENT: LEAN MODEL CANVAS OF ViFit

INDIAN INSTITUTE OF MANAGEMENT SHILLONG

Submitted By

Group Members

Gautam Nandula 2022PGP153

Ajay Singh 2023PGX107

Aparna Desai 2023PGX109

Arunim Saikia 2023PGX111

Arvind Kumar 2023PGX112

Brij Mohan Ratnaker 2023PGX117

Kush Chokhani 2023PGX126


Lean Canvas of Virtual Fitness Platform (ViFit) Prof. Guhesh Ramanathan
Problem
• Limited Access to
Fitness Facilities
• Lack of Personalization
• Lack of Motivation and
Accountability
Existing Alternatives
• Traditional Gyms
• Workout Apps (cult.fit)
• Online Fitness Classes
Cost Structure
• Customer Acquisition Cost
• Content Creation
• Technology Infrastructure
• Marketing and Advertising
• Customer Support
Designed for: Designed by: Date: Version:
IIM Shillong Students 3rd March, 2024 1
Solution Unique Value Proposition Unfair Advantage Customer Segments
• Virtual Workouts Committed to your fitness • Proprietary AI • Busy Professionals
• Personalized Plans by bringing gym experience Technology • Fitness Enthusiasts
• Real-time Feedback to your home • Certified Trainers • Beginners
• Community Support
Key Metrics High-Level Concept Channels Early Adopters
• User Engagement Revolutionize fitness • Online Advertising Tech-Savvy Individuals
• Retention Rate journey with virtual • Partnerships
• User Goal Achievement platform, providing tailored • App Stores
workout plans, live • Word of Mouth
feedback, and interactive
coaching
Revenue Streams
• Subscription Plans
• In-app Purchases
• Partnerships
• Advertisement income
 LEAN MODEL CANVAS OF VIRTUAL FITNESS PLATFORM (ViFit)

Problem:

• Limited Access to Fitness Facilities: Many individuals struggle to find time to visit traditional
fitness facilities due to busy schedules or limited access in their area.
• Lack of Personalization: Existing fitness solutions often fail to provide personalized workout
routines and guidance tailored to individual needs and goals.
• Lack of Motivation and Accountability: People often lack motivation and accountability to
maintain a consistent fitness routine, leading to high dropout rates.

Existing Alternatives:

• Traditional Gyms: Require physical presence and may not offer personalized guidance.
• Workout Apps: Lack real-time feedback and interactive coaching features such as cult.fit app.
• Online Fitness Classes: Lack personalization and may not cater to individual needs effectively.

Solution:

• Virtual Workouts: Access to a library of virtual workout sessions ranging from cardio to strength
training, led by certified trainers.
• Personalized Plans: Customized workout plans tailored to individual fitness levels, goals, and
preferences.
• Real-time Feedback: Instant feedback on form and technique through AI-powered motion
tracking.

Key Metrics:

• User Engagement: Measure user activity, session duration, and frequency of platform usage.
• Retention Rate: Monitor the percentage of users who continue using the platform over time.
• User Goal Achievement: Goals maybe as varied as weight reduction, muscle building, stamina
improvement, and disease prevention.
Unique Value Proposition:

Our virtual fitness platform offers personalized workout plans, real-time feedback, and interactive
coaching, bringing the gym experience to users' homes, ensuring consistency, motivation, and
progress tracking.

Unfair Advantage:

• Proprietary AI Technology: Advanced AI-powered motion tracking for real-time feedback sets
us apart from competitors.
• Certified Trainers: Access to a team of certified trainers ensures the highest quality workout
experience.
• Community Support: Engage with a supportive community of users for motivation,
accountability, and sharing progress.

Channels:

• Online Advertising: Targeted ads on social media platforms and fitness-related websites.
• Partnerships: Collaborate with fitness influencers, gyms, and wellness brands for promotion.
• App Stores: Distribute the platform through popular app stores for easy access.
• Word of Mouth: Encourage users to share their experiences and refer friends through
incentives.

Customer Segments:

• Busy Professionals: Individuals with hectic schedules seeking convenient fitness solutions.
• Fitness Enthusiasts: People passionate about fitness looking for personalized training and
guidance.
• Beginners: Individuals new to fitness who require guidance and motivation to kickstart their
journey.

Early adopters:

Tech-savvy individuals are early adopters due to their inherent curiosity and affinity for innovation.
They eagerly seek out novel solutions that leverage technology to improve their lives.
Cost Structure:

• Customer Acquisition Cost (CAC): Evaluate the cost of acquiring each new customer through
marketing efforts.
• Content Creation: Costs associated with producing high-quality workout videos and training
materials.
• Technology Infrastructure: Expenses for maintaining servers, software development, and AI
integration.
• Marketing and Advertising: Budget for online advertising, influencer partnerships, and
promotional campaigns.
• Customer Support: Investment in customer service for user inquiries, feedback management,
and technical support.

Revenue Streams:

• Subscription Plans: Offer-tied subscription plans with access to premium features and content.
• In-app Purchases: Additional revenue from in-app purchases of specialized workout programs
or equipment.
• Partnerships: Generate revenue through affiliate partnerships with fitness equipment
and apparel brands.
• Advertisement income: Offer advertising space within our app for fitness-related brands,
nutrition supplements, and wellness products to reach our target audience effectively.