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This looks like a cool technology that will most likely be stuck in no man's land in its current incarnation. Selling this at scale to gyms will be very diffic
by 7Figures2Commas 12y ago
This looks like a cool technology that will most likely be stuck in no man's land in its current incarnation.
Selling this at scale to gyms will be very difficult. Personal training is one the largest profit centers for gyms and at many gyms, personal training is the most profitable profit center. Convincing members to sign up can be difficult though (at an average gym typically less than 10% of gym members use personal training services at any given time) so gym owners are going to be skeptical about anything that might deter members from trying personal training.
If this technology is as good as the founders say it is, it will be viewed by most gyms as a problem, not a solution. A gym isn't going to pay $2,500/unit for the privilege of potentially cannibalizing its personal training revenue. On the flip side, if the technology isn't as good as the founders say it is, a gym isn't going to pay $2,500/unit to add a piece of equipment that doesn't offer any benefit.
Another poster mentioned selling to individuals for home gyms. Notwithstanding the fact that this is a non-starter at anywhere near the $2,500 price point, the market for personal fitness equipment is unfathomably competitive. Customer acquisition costs are insane and you could easily spend millions of dollars just to launch a new product.
If there's any value here, it's in the computer vision technology. The question is whether the company and whoever invests will recognize that before it's too late.