NEW

VENTURE
PLANNING

SUBMITTED BY:GROUP 1
Rutvik Jitendrakumar Parmar FT214062

Maryada Kashyap FT213048

Madhurima Das FT213046

Priyanka Mishra FT211057

Yogendra Singh FT214095

Samarth Lahoti

Aditya Pradhan
FT213072

FT213005
HOME GYM
Shakeel Saraf FT212073
EQUIPMEN

Home Gym equipment
Customise your gym and get
AR based personalized workout
experience with latest
technology
PROBLEM - Gym enthusiasts/health- conscious people who have extremely
busy work lives and have been missing their gym routine due to the
frequent lockdowns during the pandemic can now enjoy a personalised
workout experience at home. Since the corona virus has began spreading
rampantly, Health experts and health authorities have urged people to
avoid crowded spaces, public transportation, and areas where the risk of
transmission is high, such as gyms. This has upset the gym enthusiasts, as
they can’t afford to stop going to gym or working out.
SOLUTION - Our product will help them continue their workout regime
safely and seamlessly. Also, it will give the customers the option to design
their own home gym with an AR based personalized workout experience.
ACTIVITY - Our product and service will provide a complete workout station
to our customers, which will allow simulation of a real time gym
environment at the comfort of their homes. It will allow the customers
with the complete freedom to customise their entire gym set, be it bench,
dumbbells, or a triceps extension.
CUSTOMERS
• Baby Boomers  -Roughly 50 to 70 years old
• Generation X - Roughly 35 – 50 years old
• Millennials or Generation Y - 18 – 34 years old
• Generation Z, or iGeneration - Teens & younger
 REQUIREMENT
• A team of tech experts, app developers, digital marketing agency, investors
• A tech-savvy team, with experienced IT professionals who have experience
in AR.
• A proper finance team who can effectively manage the finances of the
business.
• Fitness coaches who can assist the customers to design the gym equipment.
• A team with good people skills who can address the customer queries, and
a marketing team to design the proper campaigns to position our product.

WHAT WE HAVE
IDEA ANALYSIS Fitness coaches
Dieticians
Developers
Digital marketing tools

EFFECTUATION PRINCIPLE
The pandemic has caused disruption and gave to remote working, hybrid
working etc. Home gym equipment will help fitness freaks and health conscious
people to stay fit in these unprecedented times while adopting the new working
models. There are significant benefits in terms of safety, fitness and time
flexibility.
 What is the market that you would like to sell your product/services?
• We plan to launch the product in tier 1 cities, ideally we are looking to launch the product in
Bangalore.
• As most of the population in Bangalore constitutes of young working professionals.
• We are estimating a market size of 1 lakh for B2C sales and at least tying up with 10-15
corporate clients

What is the niche that you would like to sell your product or services or solutions?
B2C:
o Gym enthusiasts, fitness freak and tech savvy millennials, and middle-aged working professionals
are our target customer segments.
o Online gamers who often play without caring for their health and fitness, can be benefitted
o Fitness freak who are at home due to COVID-19
o Tech savvy millennials
B2B:
o Corporate clients –Large Companies tend to include innovative ideas in the wellness programs
for their employees in intend to increase their productivity at work
o Gym chains - We can partner with local gyms who will buy our products or partner with us to
provide the AR based services to increase brand awareness.

Other details :
• The customers are not location-bound; they enjoy extra services at additional cost because
they are not sensitive to high prices.
• They look for both beneficial and hedonic aspects of the products.
• They are extremely concerned about their physical and personal safety.
• They are tech-savvy and would enjoy the AR gaming concept of our product.
IDENTIFY YOUR
NICHE Segments Remarks

Geographical We are considering tier 1 cities

Demographic Age: considering age group of 16 – 60 Year old

Income: Medium and high disposable income groups

Psychographic Upper half of VALs framework

What is the age group? 16 to 60 year old

What are his/her needs? Fitness, Safety, fun activities, community gaming, etc
 THE BUSINESS
MODEL CANVAS
 KEY PARTNERS

Fitness Made Simple  KEY ACTIVITIES

 KEY RESOURCES
 VALUE PROPOSITION
 CUSTOMER RELATIONSHIPS
 CHANNELS
 CUSTOMER SEGMENTS
 COST STRUCTURE
 REVENUE STREAMS

We have prepared three canvases

for the following customer
segments :

• Baby Boomers  -Roughly 50 to 70

HOME
GYM
years old
• Generation X - Roughly 35 – 50 years
old
• Millennials, GenY - 18 – 34 years old
and GenZ, iGen - Teens & younger
EQUIPMEN
T
  A complete workout station which allows simulation of a real time gym
environment at the comfort of your home. It lets you design your own
home gym and provides AR based personalize workout experience.
 Fitness freak who are at home due to COVID-19 and cannot go to gym
will be able to exercise at their own convenience
 It allows you with the complete freedom to customise your whole gym
set.
 AR enabled real-time information about the changes going on in your
body, gives guidance, track the past and auto-suggest the schedule to be
followed.
 Online gamers who often play without caring for their health and
fitness, can be benefitted
 Sense of satisfaction and accomplishment that exercising brings
 Customer can monitor their heart rate, daily or weekly statistics in terms
of the number of miles cycled , top speed , calories burnt.
 Customer can share their top speeds or the number of miles cycled in a
week within the community and challenge other customers to do the
CUSTOMER VALUE same.
PROPOSITION
AND
USP Target Segment: Baby Boomers, Gen X, Millennials, Gen Z and iGen

Positioning:
For young fitness and gaming enthusiasts- The product is a Virtual Reality
based exercise bike, which, unlike ordinary gym equipment delivers a seamless
gaming experience as well, so they can enjoy gaming and cycling
simultaneously because the brand is focused on the needs of customers.
 VALUE PROPOSITION
Gain Creators: Gains:
1. Fitness freaks, health Our product and service will provide a complete
conscious people,
professionals working from
CANVAS workout station to our customers, which will allow
simulation of a real time gym environment at the
home comfort of their homes. It will allow the customers with
2. People who are unable to the complete freedom to customise their entire gym
workout due to lockdown set, be it bench, dumbbells, or a triceps extension.

Products &
Services:
Our product will
help customers
to continue
Jobs-to-be-
their workout done:
regime safely Pay the token
and seamlessly. amount to book
Also, it will give the equipment
the customers needed and it
the option to will be
design their delivered at
own home gym your place and
with an AR installed at the
based same time
personalized
workout
experience.

Pain Relievers: Pains:

Gym enthusiast, fitness freaks, 1. People might not like to spend so much
people in need of exercise money
 • Order Frequency
• Customers might not buy the product/ service
later after placing an order initially
• Value for dieticians and fitness coaches
• Loss of job due to pandemic – Will consumers
be ready to invest in gym equipment due to job
losses because of the pandemic?

• Lack of information – Will customers have

adequate information about the usage of our
product and services?

• Time constraints – Will consumers be able to

MOST CRITICAL allocate time to dedicate to fitness from their
ASSUMPTIONS busy schedules?
AND
UNKNOWNS
 
MINIMUM VIABLE PRODUCT
TEST
 PERSONA AND STORYBOARD
BUYER PERSONA – Baby Boomer

Tech Profile Motivations

Growth
General Browsing:
Fear
Online Shopping:
Power
Social & Messaging: Social
Incentive
New Tech Usage:
Name: Prakash Jha
Challenges
Life Goals Age: 55 Yrs
 Managing a diet regime with workload is difficult
 Avoid eating out and lead a healthy life Education: Dual MBA
 Managing the time for himself is a hassle
 Manage time to have a perfect work-life balance  Availability of time to hit the gym is a challenge
 Take care of family and provide them a healthy life Job: Managing Director
 Finding me-time between office hours and family hours is difficult
Income: INR 60 Lakhs
Location: Bangalore
Needs

Current Lifestyle & Resources
Enjoys personalised promotional offers
 Health & work-life balance are fundamental  Has several gadgets and appliances as he is tech-savvy
requirements  He is part of online healthy diet and fitness communities
 Variety & Familiarity are important attributes  Weekends are all about spending time and enjoying with family
 Value for Money (but premium feel)
BUYER PERSONA – Millennials

Tech Profile Motivations

Growth
General Browsing:
Fear
Online Shopping:
Power
Social & Messaging: Social
Incentive
New Tech Usage:
Name: Malvika Kapoor
Life Goals Challenges
Age: 27 Yrs
  Managing household chores and office work is a hassle
Avoid eating out and lead a healthy life Education: MBA
 Build a strong career path and grow personally  Keeping track of her diet and exercise routine is a hassle
 Manage time to have a perfect work-life balance Job: Associate Manager  Finding time to hit the gym after 9 hrs of office is a challenge
 Take care of family and provide them a healthy life  Preparing healthy food/cooking after office is tiring
Income: INR 18 Lakhs
Location: Bangalore
Needs Current Lifestyle & Resources
 Enjoys personalised promotional offers  Has access to average domestic help and a cook on weekdays
 Nutritious food and healthy lifestyle are the basic  Has several gadgets and appliances
requirements  Prefers to go for weekend getaways and trekking
 Not price sensitive  Weekends are all about hanging out with friends and family
BUYER PERSONA – Generation X

Tech Profile Motivations

Growth
General Browsing:
Fear
Online Shopping:
Power
Social & Messaging: Social
Incentive
New Tech Usage:
Name: Karan Tripathy
Life Goals Challenges
Age: 40 Yrs
  Hitting the gym during the pandemic is a challenge
Stay healthy and fit amidst a busy city life Education: B.tech
 Aspires to become a power lifter  Delivery of a gym equipment during a lockdown is a challenge
 Manage time to have a perfect work-life balance Job: Team lead  Finding time to travel is difficult
 Take care of family and provide them a healthy life  Safety is a huge concern when it comes to ravelling during this time
Income: INR 16 Lakhs
Location: Bangalore
Needs
 Enjoys personalised promotional offers
Current Lifestyle & Resources
 Timely work-out & healthy food are fundamental  Enjoys online gaming and have several gadgets and appliances
requirements  He is part of online healthy diet and fitness communities
 Fun-filled and exciting activities are the motivators  Weekends are all about spending time with family and grocery shopping
 Value for Money
 STORYBOARD FOR BABY BOOMER

1 2 3

4 5 6
 STORYBOARD FOR MILLENNIAL

1 2 3

VR enabled home
cycling exercise
equipment

4 5 6
 STORYBOARD FOR GENERATION X

1 2 3

4 5 6
 Revenue Model
Cost Structure Revenue Streams

Fixed Costs
• Total Active Users – 6,00,000
App Development Cost $1,00,000
• Target Customers – 5% of total active
users
Maintenance Cost $20,000
• Average Revenue / Customers - $800
Salaries $68,40,000
• Installation Fee / Customer - $150
Total $6.96 million
• Margin – 40%

1st Year Analysis

Variable Costs
Total Cost – $8.16 million
Warehousing Cost $35,000
Logistics Cost $ 11,40,000
Total Expected Customers – 30,000
Marketing and Promotion Cost $25,000
Total $1.2 million
Total Revenue – $28.5 million
Total Cost (Year 1) - $ 8.16 million
Gross Revenue - $11.4 million

Profit – $3.24 million

 Risk and Mitigation Strategies
 Will the customers want it  Can we scale the business  Will the partners wants it

• Busy work life, joining a gym and
fitting a workout schedule takes a
back seat
• With the AR enabled real time info,
customers can use it anytime they
see fit
• Yes gradually as customers would • India is one of the countries with
use it and then via Electronic word increased obesity rate in children and
of mouth , ratings and reviews can family.
influence their friends and relatives
• The need to stay healthy and fit is
• Promotions and ads plays a vital role the new requirement of the society.
to boost the business

 Can we acquire new customers  Will the customers pay for it

• Most Women still feel reluctant to workout • Gym memberships and setting up
in gyms and many families still does not home gym are very expensive , it also
allow women to go to gym for working out needs a lot of space.
• Amidst pandemic gyms are the last place • With the affordable latest technology
people are willing to go to. home equipped combo, there is no
requirement to join any GYM and the
• Home gym eliminates the need to go to equipment is very compact –can be
Gym so people will get attracted to home easily stored
gym rather going out.
 Creating an exit strategy is like building a safety net for fitness business and
weaving it with a strong material to reduce risks that could result from ownership
gaps, loss of employees and loss of clientele in the future.
EXIT STRATEGY
• M&A – Merger or acquisition by another company. Sell the
business to someone we know, to another business or
sell the business in open market and we can pay our
investors.

• IPO - This alternative differs from M&A, since the result is still your original
single company. It can be very profitable to become a public company.

• Liquidation - Liquidate the assets, cash out investors, and keep the rest. Before
liquidating our business, we will want to work with liquidation experts to make
sure we are following the right procedure for selling our assets, paying back all
debts, employee protocol, and finalizing all legal and financial commitments. 
THAN HEALTH IS A

K YOU
JOURNEY, NOT A
DESTINATION​

It’s never too early or

too late to work towards
being the healthiest you. HOME
GYM
EQUIPMEN
T