Minimfit is a virtual gym planning to broadcast on-demand & live classes (HIIT, Boxing, Yoga, Fit Dance, Cycling, Total Body) from our boutique Madrid studio to our interactive digital fitness opensource App. By solving location & proximity limitations, we're bringing the next level of home fitness to your pocket.
Minimfit is a boutique gym launched in a prime location in Madrid in Q2'19. A specialist gym focused on providing personalized customer experiences, we provide small group classes of HIIT, Boxing, Fit Yoga, Total Body & Cycling.
The project has gone well, with 38% monthly revenue growth for the last 9 months (€36K revenue €-58k EBITDA FY'19) & an estimated LTV at €172 , 84% repetition rate with positive reviews. We tested the concept, the classes and the method at a small scale with 450+ different paying customers of different ages & physical conditions, learning the operational insights of boutique gyms.
Although gyms are a proximity business, we believe we can target the masses & scale rapidly with cloud technology, live streaming & smartphones.
We now plan to transform our boutique gym into a broadcasting studio to offer a unique virtual connected gym with competitive live streaming & on-demand classes through our interactive digital fitness app. Our App in development will be opensource to connect your own equipment (cycling bikes, boxing sensors, heart rate monitors)
The home fitness & gym markets are estimated at $109bn with an annual growth forecast of around 2%, which we believe is being driven by profound societal changes among health-conscious consumers.
We're also seeking investment to explore Latin America sites in the future and offer services across Europe & the US.