We don’t have a subscription fee in the traditional software as a service sense. The way FitBox works is this; Gyms will select an ‘Investment Plan’, starting at $3 per user per month. 100% of this investment is returned to the Gym as store credit added to your Again Faster account. (in dollars, not points). You can buy anything on our store with this credit, at your regular commercial pricing. This inc our range of standard gym consumables, such as chalk, cleaning products, whiteboard markers, even toilet paper. We also have in development a variety of additional products and services that you will be able to spend this credit on, such as our soon to be release our managed website management and hosting services from FitBox Sites. We will also include the products on the Again Faster reseller program. At minimum, these products return a 35% margin at RRP. So you can actually make money on your store credit. We will also be working with platform partners to offer additional products and services from partners. For example training seminars for your coaching staff or a sauna for an additional revenue stream for your gym.
Your revenue is steady each month but your expenses seem to come in big lumps. As a subscription business, your gym can quickly build a steady stream of recurring monthly or weekly income. However, many of your business expenses come in larger capital hits, resulting in a much bumpier expense line related to your revenue line.. This also makes cashflow a challenge when these expenses come up. As a result, the required reinvestment into your facility often takes a back seat Unless there is consistent investment back into the facility, with new and updated equipment, the relative value of your product decreases over time. As your membership numbers grow and equipment gets run down, the relative value to your members starts to go down with it.The FitBox 'Investment Plan' model soothes out this expense line and allows you as a gym owner to pre-plan for this continuous investment back into your value proposition.
As a gym with a genuine desire to improve people's health and fitness, one of your biggest challenges is demonstrating your effectiveness in helping members/clients achieve their goals. FitBox gives you and your coaches multiple avenues to do just that. Though our sophisticated range of data collection, machine learning and analytical technologies, you will have a wealth of insights into your members/clients wellness & performance, no matter what their goals are.
Through our payment partner Stripe, transactions are just 1.75% + 30c for credit cards. The is no setup fees, no management fees and most importantly, dishonour fees are just $2.50. Saving on average, you $3 per dishonour or saving your member up to $20.
Many gyms are small to medium businesses and as such often have limited financing option. Particularly in the first few years as try to invest ahead of thier membership growth. Once you have been on the FitBox platform for 6 months our system will calculate and make an offer for financing your next equipment purchase. You will then be able to choose how quickly you pay it back based on a percentage of your membership fees collected.