Look like a smart investment into a strong founding team, rather than the product itself at this stage (not suggesting that the product cannot stand on it's own merit - only that the "team" slide was the most impressive part to me).
I just launched a fitness app about a month ago and every single metric I have is better than theirs, yet I'm not overly pleased. It had more than double their download rate, more than double their conversion to subscription, and significantly more (though still not meaningful) revenue. The thought of raising 6 figures based on this seems bizarre and absurd. Perhaps if I wanted to (I don't really) we could raise some for it, but the thought hadn't even crossed my mind.
Also, fitness advice I can trust and nutrition plans that work? Why should I trust you guys over anyone who has an actual background in exercise physiology or nutrition? Do you have any evidence that your nutrition plans are better than premade ones online? I'm blown away that people give Soylent so much crap, but they're following the same principles as apps like this (an "if it fits your macros" approach) but do it with consistency and accuracy that a meal plan could never achieve.
It looks like you're off to a strong start, and I wish you the best of luck, but the app so far looks like it's strongly overselling/under-delivering which can be pretty offputting.
Not all non-gym bodyweight routines will work, but there are a few that use progressive overload and changing leverages to keep things "hard". This is what builds muscle, and if you're doing it regularly and eating well, you can shed fat (either through bulk/cut cycles or at the same time, albeit more slowly). For instance, see the beginner routine on Fitloop: https://fitloop.co/routines/bwf-beginner-routine
(I should probably mention that I'm assuming a lot here: specifically, this applies if you're looking to replicate a weightlifting-centric routine.)
It's really not a matter of whether or not you have a gym membership, it's a matter of the actual exercise you do. You can have a gym membership but if you spend your time doing the wrong things you won't get the results you're after. I myself go to the gym, as well as performing bodyweight exercises. They're clearly different, and we're not suggesting otherwise. However the bodyweight exercises are often more convenient for people with busy schedules, or who travel a lot.
As for the nutritional aspect, we're not inventing anything new, and we don't have any magic formulas. We're just helping people improve their health understanding the effects of the things they eat. It's not a fashionable diet, and it's not rocket science. It's pretty much standard healthy living.
Other than that - the app looks solid, and nice n simple. My only feedback is the tagline "for people who hate fitness". I am not a massive fan of fitness (hence why I am interested in these apps), but want to become someone that DOESN'T hate fitness - isn't that the entire goal of your company?
Congrats on raising the round and a great execution so far though :)
We take a different "just tell me what to do" approach. Users sign up, enter their stats and choose a goal: strength, weight loss, etc. With that, we generate workouts and plans to help them get there.
We also offer meal plans and personal coaching, because the human aspect matters a lot. That's why I believe most "fitness tracking" startups will fail... people are looking for a plan, not for a pretty dashboard.
https://docs.google.com/forms/d/18Se8QtvIKrGPWd8HEN4ILZz3Yyp...
Your numbers look truly amazing, low CPI and high conversion rate to paying users.
Do you mind sharing what's your sustainability/breakeven point in terms of monthly paying users? :) I guess it is around 25000, which you should be able to reach pretty soon assuming a 50% split marketing/product for the fresh funding.
Best of luck to you.
Our expenses are at $10k with a 3 people team, some freelancers and a $2k/mo marketing budget. We plan to break even in half a year, if things go right.
My goal so far has been to keep us profitable, as in +revenue and -expenses.
Here's the breakdown of expenses:
- $5.000/mo for paychecks - $2.000/mo for marketing - $800/mo for freelancers - $500/mo for software and hosting - $500/mo for operational expenses - A 10-20% margin for things that come up
At a $10k/mo burn rate currently, and being on track to make $1k on our first month, we only plan to go as low as $100k in our bank's balance.
We are being extremely cautious and saving money for future projects, because we want to avoid raising funds in a need.
