Venture Concept #1

Name- GitFit
Opportunity- My opportunity group covers anybody who isn't currently in shape. Essentially, it provides a method for trainees to find a personal trainer that they can connect with, and that is in their budget range. There isn't currently a social media or website built to connect individuals with personal trainers. For this reason I believe it is a large opportunity. Essentially, the way the app would work is trainers would be charged a small fee every month that they use the app. This fee would be somewhere between 20 and 50 dollars. This may sound expensive, however one must consider the fact that this app provides them with free advertising to a large network of clients. For this reason the app is a win win for trainers, since they will ultimately make money in the end if they make more than $50 a month from clients found on the website. This also makes it great for those looking to become trainers without a lot of experience since they can easily gain access to many clients. Additionally those purchasing trainers will be happy as well, since they get more options and can compare the different trainers and their prices directly at face value.

Innovation- The innovation of this idea is the concept of an application which makes it easy to find personal trainers. Currently, most personal trainers either work directly for gyms, or they work independently and run their own website/social media where they try to find customers. This seriously makes it easier for both the trainers and trainees logistically, and convenience wise. Since its not a large investment for trainers they likely would benefit more from the exposure than from advertising independently, and on top of that they wouldn't have to do the work anymore.

Venture Concept- As I stated early, under the status quo trainers typically work at an individual gym, or they advertise independently. This is terrible for customers, since they have very little options. Either use the trainer at your gym, or hope the personal trainer you bought independently is a good one. With the app, they can see reviews of trainers, and pick from a wide variety of independent trainers with different prices. For the trainers, this app makes their job much easier since they no longer have to worry about advertising themselves to potential clients. With the introduction of this app, we take on that responsibility, and they simply have to pay a smaller fee every single month.

Three Minor Elements
1. My most important resource will be my human capital in the form of advertising. Since I have connections in the digital marketing world I think it will be very possible for me to create a large amount of exposure for my application through social media advertising. If this is possible and I can get a good base of users, natural growth should take over from there.
2. What's next is creating another fitness application which asks as a community for discussion regarding fitness related topics. The fitness community is a tight one, however there really isn't any social media connecting people in the fitness world. I believe if there was a community such as this, many individuals would join and it would achieve great success.
3. I want to help grow this venture concept until I can find someone who can grow it even better than I can. I would grow it and then let someone else run the business, while still remaining a large equity holder in the company. Afterwards I would look to either start my own business or help someone else start their business and ultimately just look for large amounts of equity in individual companies to help accumulate assets.