My product "Fitted" is a mobile fitness application allowing users to select exact areas of the body to work out and shows users best exercises (most results in least amount of time) based on the target areas.
Business Model Canvas
Using the business model canvas framework, Fitted's business model is:
1. Key Partners:
- Fitness experts (to identify most efficient workouts)
- Apple and Google (iOS app store and Google Play store) to distribute product and also receive payments for in-app purchases / subscriptions
- Create application / development
- Test on select users
- Adding additional features (including monetization features)
- Designers / iOS and Android Developers
- Testers
- Growth Hackers
- Sales and Marketing
- Build the body that you've always wanted with less effort
- Get best results in least time
- Target very specific body parts that need toning
- OR...Build the body that you've always wanted by knowing what to work out
- Indirect
- Social Media channels
- Facebook page (communities)
- Feedback page on website
- Awareness:
- Influencers--famous fitness guru blogs
- Viral marketing (refer a friend and get free exercise; share your results with friends on FB / Twitter and get free exercise / enter to win a prize)
- Distribution:
- Mobile: Apple and Google (iOS app store and Google Play store)
- Online (presence only, will drive users to download via smartphone)
- Service:
- Social Media channels
- Twitter?
- Mass market: teenagers and adults (anyone who wants to tone his / her body)
- (Potentially) advertisers such as health magazines, bodybuilding supplements, etc.
- Value driven
- Usual cost of doing business (salary, potentially rent for office space)
- Marketing (user acquisition)
- Advertising revenue
- Revenue share from purchases generated from in-app advertisement
- In-app purchases
- First exercise per body part is free, then additional costs $
- Subscription revenue (ad-free version)
- Connect
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