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How to Launch Online Gym and Fitness Gear Rental Marketplace?

3

Answers

Bhavmeet Kaur

Experienced Associate

Great Question! As per Allied Market Research, the fitness equipment market size was valued at $11.5 billion in 2019 and is projected to reach $15.2 billion by 2027. The COVID-19 outbreak has indeed shaken up the health and fitness industry in a way no one could have imagined a few years ago. The national lockdowns meant the gyms and fitness centers had to remain shut until the virus could be contained. This is an unprecedented crisis for a number of gyms around the world, but the situation has spurred businesses to adopt new ways to cater to their loyal clientele. Gear rental is one way in which fitness centers are looking to serve their customers. This is a sensible approach as it allows gym enthusiasts with much-needed gear such as resistance bands, cycling bikes, weights, treadmill, dumbbells, and many more to continue their training at home without the risk of being exposed to the virus. The idea of gym equipment rental was popularized at the start of the pandemic by GymLend - a Sydney-based startup that invited local gyms in the region to list their equipment on rent. GymLend quickly shot to success and is now serving multiple cities across Australia. This is clear evidence that the concept of a gym and fitness gear rental is both feasible and profitable. Let’s take a look at Gym & Fitness Gear Rental Marketplace Business Model An online fitness gear rental marketplace comprises a marketplace owner(admin), several gym gear owners(renter/vendors), and individual customers wanting to rent the said gear(rentees). The rentees can look up listings on the platform based on their geographical location. They can select the gear they would like to rent. Once a gear rental request is placed, it needs to get approval from the gear owner. On approval, commission charges are transferred to the owner’s(Admin) account. Rentees can select the shipping method that’s most convenient to them, viz. self pick-up or doorstep delivery while placing the request. Since gear safety remains a major concern, a safety deposit is usually maintained in the Admin’s account. This can be refunded back to the rentee upon a safe gear return. Revenue generation model of a Fitness Gear Rental Platform An online gym and fitness gear rental marketplace can generate revenue from multiple channels such as follows: - Commission through every transaction Advertising on the marketplace Featured listing as an initial focus during peak hours Subscription plan with a wide range of benefits such as free delivery, fixed discounts & much more Key Players Dominating The Gym Equipment Rental Industry In 2019, the fitness industry valued at nearly $100 billion globally. Some of the vital players that dominate the market globally are A.E.S. Fitness in New Jersey generating a handsome revenue of $1.5 million, FitDel in Texas earned $0.6 million profit, and HireFitness in the United Kingdom claimed a turnover of around $3 million. How to Set-up a Gym & Fitness Gear Rental Marketplace? Instead of building such a marketplace from scratch that would be an expensive and time-consuming process, I recommend going in for a white label turnkey solution such as Yo!Rent that can be deployed in a few days. It offers all the essential features to launch an online gym and fitness gear rental marketplace such as: - Multi-Vendor Functionality. Renting & Selling option. Real-Time Stock availability. Intuitive UX design. Powerful Mobile Apps. Customizable System. In-Built Analytics & Reporting. Smart-Review Management. If you have any queries regarding the information shared in this answer or need expert advice for setting up an online gym and fitness gear rental marketplace - https://www.fatbit.com/fab/guide-to-start-online-gym-fitness-equipment-rental-marketplace/, please feel free to connect with me.

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Noblejeet Batth

| Experienced professional| Problem-solver|

small and mid-sized banks continue to offer credit cards, many of which are underwritten in-house.

Robin

Founder, Trove Management Soultions

Hello, please specify-- give an example of how you know that they are losing motivation-- are they not meeting daily expectations regarding productivity? Are they complaining? What is it that they are doing that signals to you that they are losing motivation? With a bit more info, I can offer guidance that may more precisely address the issue.

Automation

need help RPA in Finance

1

Answers

Kabo Makgatlha

Trust Yourself. You Can Do It.

RPA automates finance processes : Finance robotics is evolving from simple individual task automation to full process automation that could improve the accuracy of financial analysis and forecasts. Automating finance processes requires combining finance robotics with other intelligent automation technologies. Finance RPA you can use Understand the right places to deploy finance robotics, proven methods for tracking and assessing its benefits, and techniques for handling the integration of finance robotics with team design and structure.

Assaf Ben-David

Mentor, Entrepreneur, Lawyer, Public Speaker

Hi, I'm happy to assist, but I would need to know exactly what you need help with. Do you need help preparing your pitch deck (investor presentation)? Preparing the talk with investors? Preparing your one pager? Emailing them? Finding them? Let me know and I'll try help. Good luck I've successfully helped over 350 entrepreneurs, startups and businesses, and I would be happy to help you. After scheduling a call, please send me some background information so that I can prepare in advance - thus giving you maximum value for your money. Take a look at the great reviews I’ve received: https://clarity.fm/assafben-david

Assaf Ben-David

Mentor, Entrepreneur, Lawyer, Public Speaker

Hi, You're welcome to (privately) send me more details and I will see how I can help. It all depends on the costs, potential and industry. Good luck I've successfully helped over 350 entrepreneurs, startups and businesses, and I would be happy to help you. After scheduling a call, please send me some background information so that I can prepare in advance - thus giving you maximum value for your money. Take a look at the great reviews I’ve received: https://clarity.fm/assafben-david

Social Media Marketing

What is clarity?!

3

Answers

Christy Norfleet

Entrepreneur

The definition of clarity is "The quality of being coherent and intelligible." This platform offers just that to those who seek assistance with their projects or goals.

Marketing

How do I find my Niche?

10

Answers

Christy Norfleet

Entrepreneur

This may sound a bit naive however I always advise others to cultivate their "God given" talents first because I have learned that those are the talents that most people thrive while doing. I have learned that we often spend a lot of time attempting to learn or master things in order to best accomplish our goals. More often than not we were already in possession of the skills required to soar we simply choose to take the long route. Do what you feel so comfortable doing that it feels natural and you can't go wrong.

Anntricia Bray

I am a business professional

I have a book on Amazon that may help guide you, "Time To Talk". There is a chapter in it that talks about the different businesses that you can do online with little to no overhead cost. Almost everything (no matter what it has been in the past) is transitioning to online so really the sky is the limit.

Robin

Founder, Trove Management Soultions

I have served in the nonprofit field for over 10 years. Have you considered working for a nonprofit human service agency that serves at-risk children? Nonprofit employees may receive full, competitive paychecks! Because you are a trained teacher, you would fit the criteria for a care manager role and/or a direct care role. There are other options/roles as well within the field. These jobs have continued to be available through COVID-19 emergency regulations, and some employees work from home as a result OR they are working from home and they are doing a few days in the office as well. Would you like to schedule a call for more detailed guidance?

Vikas Mantute

Scale cloud platform and application growth

GO with local marketing like posters and other ads. If you are ready to invest in digital marketing - go with Facebook, Instagram ads for inquiry.

Robin

Founder, Trove Management Soultions

Hi there! Here's an awesome article with a wealth of information on the topic (HAPPY READING!!!): https://www.forbes.com/sites/laurabegleybloom/2019/09/30/quit-your-job-travel-the-world-easy-ways-to-make-money-online/#1f8ba1154360 If you want to discuss this topic in more depth and provide more info about yourself to build a strategic plan to help you take steps forward, then I look forward to speaking with you soon! Strategic Planning and Research are my strong suits! Let's talk :-)

Assaf Ben-David

Mentor, Entrepreneur, Lawyer, Public Speaker

Hi First of all, well done for the initiative. Sounds great. When to incorporate is one of the most common questions I get when working with startups. The answer is not too early, in order to save the fees (mainly yearly reports and accountants), but before you have clients (who can potentially sue you) and before you have created anything of value (because then, when you transfer the intellectual property - IP) to the company, you will incur a tax event. In this case, and based on the information you provided, you should definitely incorporate because: 1. You have paying clients (which means legal liability) and if they sue (I hope not, but IF), you want them suing the company, and not you personally. 2. You have "staff" - which again, comes with legal liabilities (by the way, best to 'employ' them as freelancers and not employees. Paying freelancers is much less of a headache. 3. You've created intellectual property which should be transferred to the company, and if you do it now, you may still be able to avoid a tax event (the website is worth money, and you're giving to the company - and whenever someone, or a legal entity, gets something of value, the tax authorities ask for a % - like when you get paid your monthly salary). In this case, there is now reporting to the tax authorities, but if you ever sell your business (have an 'exit' event) then the issue might come up. Bottom line: you should incorporate. p.s.: don't forget to add a terms of service/terms of use + a privacy policy (and no, copying it from another website - even if you made changes, won't work - this is still copyright infringement). Also, if you're targeting kids under 13 in the US, don't forget to include the sections regarding COPPA (children's privacy act). Good luck! I've successfully helped over 350 entrepreneurs, startups and businesses, and I would be happy to help you. After scheduling a call, please send me some background information so that I can prepare in advance - thus giving you maximum value for your money. Take a look at the great reviews I’ve received: https://clarity.fm/assafben-david

Assaf Ben-David

Mentor, Entrepreneur, Lawyer, Public Speaker

Hi If you don't want to go to each website individually, the only other method I can think of would be to find other reports already made which cover gender inequality in corporations and collect the information from there. But if you want something that keeps being updates and is accurate, the bets would be to write a script (code) that would check the relevant page of each company every few months. Yes, it would be a lot of work finding all the pages in the beginning, but afterwards at least the updates would be automatic. I know a guy who writes great scripts if you need. Good luck I've successfully helped over 350 entrepreneurs, startups and businesses, and I would be happy to help you. After scheduling a call, please send me some background information so that I can prepare in advance - thus giving you maximum value for your money. Take a look at the great reviews I’ve received: https://clarity.fm/assafben-david

Diana Graepel

Founder. Producer. Presenter & Speaker.

It depends on the stage of your business. If you are at the beginning, spending money on brand advertising is a sure NO. Which doesn't mean you shouldn't aim to build a brand... Building a brand is always good, it increases the value of your business allowing you also to sell it if you decide you want to exit and start something else. Spend money on direct marketing, test and refine what works and test new, even cheaper avenues. And build your brand without investing money in advertising, start with defining the mission & main story of your business, its key values them creating a memorable identity- logo, main colors, main fonts, templates for all marketing materials, activities, channels, tagline that captures your brand essence, and finally making sure you are consistent using the above tools. Branding also takes a lot of time but as long as you are consistent and you do a good job with the elements above, you will be on your way and you won't need to spend money advertising it. Obviously the more unique the business story & brand elements, the higher your chances to achieve brand awareness and recognition faster.

Marketing Strategy

Baby niche is a growing market?

4

Answers

Cameron S

Podcast Expert to Million & Billion Companies

Baby goods and services are growing quite rapidly with owlets raising $24 million for their series B and with Momni the caresharing platform taking off both in Utah.

Robin

Founder, Trove Management Soultions

Hello. First, please allow me to ask you-- where did you learn about Invexlab?

Robin

Founder, Trove Management Soultions

So sorry to learn that this is happening to you! You did right by asking this person to stop, however, they persisted! Follow this link for a video and guide to help you block this person so that you can get back to enjoying Twitter!!! :-) https://help.twitter.com/en/using-twitter/blocking-and-unblocking-accounts

Nagy Roshdy

Textile wet processing & water treatment

There is a better alternative than Turkey and very close to it, it is Georgia, where there are many advantages for a project like "Textile digital printed and apparel manufacturing factory" such as: - Government supports investment and you can have a "Free zone" facility. - Very low costs for: Electricity, Gas, Land and labor force - Well connected to Europe and USA with free trade agreements. Also, a source for Caucasus area. Project is a stand alone and needs between 500 sq. m. to 1000 sq. m. max and can be easily upgraded Only 1 Designer and 2 - 4 workers needed for 1 unit 1 shift. 1 Unit printing production capacity is 60 - 120 linear meters per hour for fabric weight 120 gm per square meter.

Ryan Rutan

Founding @Startups.com, Clarity, Fundable and more

Hey - as both one of the people behind Clarity, and a very active Clarity expert, I can give you a really simple step that will help a ton. There are other great suggestions in this thread - but this one will help get things moving the fastest. Go to: https://clarity.fm/settings/expert/vip-link - and setup your VIP link to allow free calls - and promote this to a few people you know will benefit from your advice (Facebook, LinkedIn, etc) and let them know you are willing to help for free. Do 3-5 calls like this so you get some reviews. This will boost your visibility on Clarity AND give people who see your profile confidence in booking a call with you. Like with most things - nobody wants to try something that's a total unknown - but with a few solid reviews you'll be well on your way. Then, promote yourself (using your regular link) where your audience is to supplement getting "found" on Clarity - and have a great time doing calls. Feel free to message me if you have any questions about this - more than happy to help.

Paul Levine

HI I am Paul known as Pauley The Plantman

I have a couple of ideas let your friends on other social media sites know about it.Such as Facebook, Twitter and Linkedin. In this case Facebook is probably the best. Let them know about what your goal and idea is on instagram. I have a friend who did something on instagram and two things I remember that helped him big time is first he had a nice following of people. And he had also had a great goal and idea for his thing on instagram. Another thing is to join a few networking groups and groups that focus on social media.

Devrig Bornet

Chief Executive Officer at billionaire.life

As a professional coach the market is smaller but it is geared towards key skills I would love to talk to you about the current market and business plans.

Matt Dunn

A specialist growth focused eCommerce all-rounder

There are a few online B2B marketplaces in the US to consider and which one you go with will depend on your requirements. Amazon Business: This is a very legitimate option now as Amazon looks to expand its offering away from just a B2C model, with a greater focus on B2B. You can offer unique discounts for businesses and a host of other features to drive your B2B business. ThomasNet: This is more for a traditional supplier/purchaser business relationship but may be a worthwhile avenue if you sell high volume or recurring use items Alibaba and eWorldTrade: Both Chinese based business so I am unsure of any implications on trading here from the US however there are a huge number of US businesses looking to buy on here and so they are atill some of the largest B2B platforms.

User Interface Design

how to start in ui/ux?

3

Answers

Zubair Khan

I am Zubair, just a common man

To become a UI designer, you first need to master the necessary skills Like (Programming fundamental). While it’s true that you don’t need a university degree or a specific qualification, you do need a structured approach. you need some prototypes and some standard designing tools. Furthermore, If you need, I will guide you to bootstrap course.

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