2022 Cohort > TrackMyGym Ltd

TrackMyGym Ltd

Business Proposition

The business is at an early stage, with ongoing product development.

There is a B2B element, and a B2B2C element.

The B2B part of the business involves attaching permanent “usage sensors” to all of the gym equipment.

Cardio (Treadmills, Crosstrainers)
Resistance Machines (Chest Press, Leg Press)
Free Weights (Benches, Platforms)
Functional equipment (TRX, Power-bags, Jump Boxes)

The sensors detect changes in acceleration, magnetic field or weight.

This usage information will be extremely valuable to gym operators who are having to optimise their gym floor space in the face of social distancing restrictions imposed by Covid-19.

TrackMyGym will be capturing the data on equipment usage with these sensors, and producing analytical dashboard for the gym operators, showing where they have equipment bottlenecks, resulting in customers having to wait for equipment, causing “unmet demand” and unhappy customers.
The analytics will also identify where operators have too much, or unpopular equipment, that is using up precious rented floor space and capacity.

The knowledge on how to analyse the data comes from a business called GYMetrix, which was a consultancy that used to temporarily attached sensors to all the gym equipment, for 1 week, just before operators were due to do a refurb. The usage data and would inform operators the most efficient equipment mix.
The equipment manufacturers had been over supplying expensive cardio equipment.

Covid-19 ended GYMetrix business model.

However the business has been a great lead to contacts with the biggest gym operators across UK, EU and USA.

TrackMyGym had been running long term trials with the permanent sensors with Edinburgh Leisure, and had agreement from Pure Gym, to start trials with 3 of their gyms around Edinburgh.

Edinburgh Leisure’s senior Management had also green lighted the B2B2C TrackMyGym app.

The app works by us installing Proximity iBeacons on all of the gym equipment. They send out a bluetooth signal, advertising themselves. This enables gym customers phones to detect the signal, the app know what piece of equipment that the customer is near, and the phone to then “pair” with the usage sensor, which is also communicates using Bluetooth.
Customer’s frictionlessly Track their own personal usage of the equipment.

The app has been designed as a content platform for the operators. They can upload instructions on how to use the equipment, and programs ie “Immunity Boost”

Customers can also share their progress with their trainers and other customers to create a community around achieving Health and Fitness Goals.

Connected, digital gyms are without doubt the future. The only question is how the industry gets there. The equipment manufacturers were doing a poor job of it, they would have been the main competition. Covid-19 however has wiped out their ability to implement their solutions, because no operators will be buying new equipment. The solution lies in retrofitting the sensors.

The vision is all gyms having connected gym equipment, customers being able to track their entire workouts on an Apple watch, and this compelling value proposition being implemented by the worlds largest gym chains.

Investment Ask

£500k – £999k