- Kindly explain Flexnest and its special offerings.
Founded in 2021, Flexnest is a Gurugram-based fitness startup that provides premium home equipment and solutions. The firm integrates smart equipment, such as bikes, rowers and ellipticals, with content solutions to allow consumers to work out from the comfort of their own homes using the Flexnest App. The App includes trainer-led cycling, rowing courses, virtual sessions, and strength equipment classes.
Flexnest is more than just purchasing equipment. It is a complete home fitness solution, including hardware (equipment), software (the app) and content integration.
- How do you differentiate Flexnest from other companies?
Today Flexnest is a hardware company, a software company, a media company and a D2C consumer brand. No fitness company in India has offered a solution so holistic and comprehensive till date.
Flexnest is changing the way people workout from their homes. We bring to you a new way to workout at home. Usually people buy equipment from brand A, use videos/content from brand B and measure their progress with brand C. Flexnest is different, we can do all 3.
Flexnest is not about just buying equipment. It is a full solution for home fitness – There is hardware (Equipment) and software (content – classes, videos) integration.
Our mission helps customers with an A-one stop shop all their fitness needs.
- What is your revenue model
The revenue model is product sales and subscription.
We retail our products with 6 months-1 year free membership package post which individuals take monthly/yearly plans to continue accessing the content.
- What sort of growth have you seen since inception
We have had some remarkable traction and went from $0 to $5 Mn Annualized Revenue in the first 12 months of operations, making it one of India’s Fastest Growing Direct to Consumer Brands. We are currently projecting an annualised revenue of INR 100 Cr by March 2023. What’s been more impressive is that Flexnest has achieved all this, while being completely bootstrapped thus far, owing to strong unit economics.
- What is the scope of growth AI has in the digital fitness segment?
AI is revolutionizing exercise with fitness equipment that makes home workouts smarter and more effective. Aside from smart wearables that can help you measure your fitness, personal AI trainers are gaining popularity at an extraordinary pace. AI advancements are bringing feedback-based customization to the digital fitness market, making the experience of having a personal trainer more accessible than ever for individuals.
- What will be your future plans to enhance your business?
Our ultimate goal is to become India’s largest D2C Fitness brand that offers more unique and connected equipment. We intend to own D2C retail brand storefronts in high-traffic premium malls in major areas such as Delhi, Mumbai, and Bangalore. We also intend to eventually manufacture everything in India and expect to generate INR 100 crore in yearly revenue in the coming year. In a nutshell, we desire to prepare the road towards future growth by completing significant milestones in the pathway. We are also on a mission to complete our smart equipment portfolio by launching other connected products and fitness trackers to meet the needs of our customers.
- What is the current user base?
Flexnest has a userbase of 50,000 out of 20,000 using our connected offerings.
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