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MyGymPals
Location: Los Angeles, California, United States United States
Founded in: 2015
Stage: Alpha (prototype)
Number of employees: 6-15
Funding history:
- Date: 05/2015, Accelerator/Incubator: $20 k
Investors: Wan Song, Muris Mulalic
Short URL: vator.co/mygympals
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MyGymPals

Find Your Swole-Mate!
Startup/business
Los Angeles, California, United States United States
http://www.mygympals.com
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Company description

MyGymPals is the easiest way to find a local workout buddy.

Consider this a dating app, meetup app, and social networking app all rolled into one.  People will be able to find a workout partner, join pickup games, find a location to meet, and share their unique experiences.   

Our story began with our CEO losing 60lbs thanks to local friends that kept him involved, motivated, accountable and engaged.

MyGymPals started in May 2015. We saw a simple need where social aspects of fitness is a great motivator in seeing physical results.  

Our goals are three-fold:

1) Become the main portal for those new to communities and wanting to find local exercise partners.

2) Become a value-added service to existing gym facilities, their community members and non-members.

3) Become a central hub for the exchange of tacit and explicit information regarding exercise, fitness and health.

Our primary initiative is to reduce obesity rates in the United States through behavioral modification.

 

We hope to answer any questions you might have so you will make the best decision.  Thank you for your consideration!  Wish the best to all of our fellow competitors!




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Team
  • Wan Song
    Wan Song | Founder
    MyGymPals is my latest startup that brought me back into the entrepreneurial game. I guess you can never stay away. Let's play!
  • Muris Mulalic
    Muris Mulalic | Founder
    Social and driven entrepreneur with a background in psychology, business, and a passion for technology.
  • Mike Kim
    Mike Kim | Advisor
    I worked on AAA titles and the projects I worked on are used by over 10 million users. Professional project manager, producer, Globalization manager.
  • Brian Cuda
    Brian Cuda | Advisor
Business model

B2C: A free-to-use matchmaking and marketplace mobile application and complementary website paired with an optional premium version.

We are developing both a subscription and a-la-carte-based online store model for our end users.

Engineered by a platform-as-a-service approach where users are able to create and share exercise routines to elevate their game and spread the company exposure virally across their existing social spheres.

MyGymPals' premium version, the "Masters" program, is dedicated to individuals that are either into competitive training or certified exercise professionals. The premium version features include the ability to sell exercise routines, similar to how one would purchase music through an online music store.  Videos, vlog/blog, and other additions will be made available.

Guerilla tactics by partnering up with well-known fitness and entertainment celebrities to engage and challenge people to "buddy" up.  We have already compiled a list of 100 brand ambassadors to showcase our company, many of which are available by our partering companies.  Endorsements will carry the weight of the company through social networks, leading to specialized events and marketing campaigns.

There are many features we would like to discuss but we are choosing to keep them private.

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B2B: A value adding technology service that infuses with existing exercise facility and workout studio's digital infrastructure.

By offering our services to their customers, fitness facilities are able to experience new member growth, retain current members, differentiate themselves from their competitor, enhance their marketing and advertising efforts and truly showcase their corporate culture of health and wellness beyond their facility walls.

Our software allows traditional sales staff to evolve into relationship managers. Gyms and studios will also be given the options to advertise specials, discounts, events, classes, and more to enhance relationships with their existing business and community partners.

With numerous fitness associations and organizations, we are working to bring as many companies to our brand, giving them an additional source of consumers/clients. Transactions can be done through the website or app, even going as far as producing a company-specific profile so people can "favorite" it for easier access.

Competitive advantage
  1. A serious need for the fitness industry to upgrade its archaic methodologies both in marketing and consumer experience.
  2. Injection into existing facility databases to pre-populate our service. Algorithms are being generated so platforms can be accessed by our system, pulling in data to be processed, providing proper metrics to capture and analyze.
  3. Quick adoption rate of social networks (Facebook, Twitter, Instagram, etc) with participating companies. Once word gets out in the fitness and wellness community, it will spread quickly. The industry is hungry for new and simple technology.  The industry revenue is $84B and rising.
  4. Obesity rates are alarmingly high, with no end in sight. Partnering up with a workout buddy will introduce community and belonging, an integral part of a social and supportive circle.
  5. Functioning as a social arm to both fitness and nutrition tracking companies.
  6. Creation of an additional tier of revenue generation for budget conscious fitness enthusiasts.
  7. Engaged in meeting with the organizer to one of the largest fitness expos to become a showcase and destination for our company and potential followers.  Our goal is to pull in 25,000 new followers, which will ignite social networks to attract more attention.
  8. Market size is enormous and ripe for the taking:
  • Global fitness facilities: 165,000
  • Global fitness members: 138,000,000 (138M)
  • Global fitness revenue: $84,000,000,000 ($84B)
  • Global population: 7,300,000,000 (7.3B)
  • US fitness facilities: 23,000
  • US fitness members: 52,900,000
  • US fitness revenue: $25,000,000,000 ($25B)
  • US population: 318,400,000 (318.4M)

Currently in discussion with over 50 vendors we've met at the recent expo.  From exclusive deals with vendors to special events at gyms and studios, advertisements and company relationships will be utilized and introduced seamlessly to offer activity- and/or goal-specific services/products for a customized user experience.

Our revenue model is to charge a small fee per transaction, unless a percentage is offered for a renewable subscription.  There are enough fitness trackers and exercise routine apps, but there is none that will help bring people together to gain the benefits of mutual and supportive exercise.

Our technology solution makes it possible for fitness and nutritional tracking to truly begin and become useful. If one already has an exercise partner, the user can take advantage of our building blocks features  The features provide them the ability to join thousands of users in creative exercise routines, thus eliminating the stale nature of exercise. Dynamic challenges are created by users to elevate the fitness experience, providing motivation and a sense of community.

Investors
Wan Song
MyGymPals is my latest startup that brought me back into the entrepreneurial game. I guess you can never stay away. Let's play!
Muris Mulalic
Social and driven entrepreneur with a background in psychology, business, and a passion for technology.