FastYoga Quick Stretch: New Brand Concept


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Revolutionizing Yoga for the Masses

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FastYoga Quick Stretch: New Brand Concept

  1. 1. Brand & Concept Development LA Fitness Exploratory Meeting March 2, 2010 © 2009-2010 Crosscut Ventures, LLC. All rights reserved. Confidential. Do not forward electronically or by any other means without prior written permission and consent.
  2. 2. Consumer Problem People realize stretching is good for you but they can’t reach. 1
  3. 3. Business Problem Gyms have so much space they can’t fill. 2
  4. 4. Challenge 53 % of Americans can’t touch their toes 93 % of Americans don’t practice yoga 94 % of Americans don’t stretch their body 3
  5. 5. Opportunity Enhance the relationship with 1.5MM LA Fitness members by giving each their own s p a c e to stretch. 4
  6. 6. Solution Repurpose 800 sq. feet or a racquetball court equivalent. Design into a premium yoga and stretching studio. Create a new destination, charge a monthly premium fee. 5
  7. 7. Idea “A space to feel better” 6
  8. 8. Concept Improve the awareness of yoga and stretching by creating a singular space, and atmosphere for LA Fitness members use, adjacent to their unique fitness regimens and routines. 7
  9. 9. Insight Gym members know they should stretch, and that yoga is ‘good for you.’ Instead, they chase immediate gratification with new and unproven techniques. Yoga and stretching have been taken for granted. If they can trust the experience and immediate benefits of yoga and stretching today, they will be motivated to adopt both for a lifetime. 8
  10. 10. Brand Fast Yoga Quick Stretch is a modern ‘take’ on two traditional and distinct human activities - yoga and stretching. When united the two enhance the human capacity for complete body-to-mind enhancement. Fast Yoga Quick Stretch is space that immediately feels better, by engaging and shaping the body to balanced and restorative wellness. 9
  11. 11. Product Space that intuitively feels better because of what you can do with it. Fast Yoga Quick Stretch studios are designed to efficiently inform and promote yoga and stretching mutually. Adaptable to any environment, Fast Yoga Quick Stretch enables anyone to learn how to improve their overall fitness and enhance their lifestyle. 10
  12. 12. Why now? Fitness Level Convenience 11
  13. 13. Why LA Fitness? Under-utilized space creates zero cash flow. U.S. racquetball participation has been declining through attrition since 2001, as a new generation of gym members don’t play. LA Fitness has 300 gyms in the United States, most with multiple racquetball courts. In the Northeast, specifically Bergen County - New Jersey, there are 12 retail outlets that account for at least 36 courts. 12
  14. 14. Reason to Believe LA Fitness is a leader in fitness innovation, dedicated to providing community to its members, complete with the latest techniques, helping them achieve and maintain their fitness lifestyles. 13
  15. 15. Pricing $5.00 per month for unlimited access at any LA Fitness location. Offer to existing and new membership levels, utilizing trainers and sales for awareness and conversion. 14
  16. 16. Sales Fast Yoga Quick Stretch can raise membership at LA Fitness and drive incremental revenue per member. LA Fitness trainers and sales staff are ideally suited to capture new recruits for Fast Yoga Quick Stretch, creating awareness and indoctrination of a new premium service. 15
  17. 17. Example • Assume the average LAF unit has 10,000 members at $40 per month • Assume a minimum of 3 racquetball courts with 10% occupancy • Assume an acceptance rate of Fast Yoga Quick Stretch of 20% of total membership or 2,000 • New Math: 2,000 x $5.00 x 12 = $120,000 per annum • Old Math: 10,000 x $40 x12 = $4,800,000 • Revenue Benefit: $120,000 or 3% of gross revenue per unit 16
  18. 18. Scalability • 1 unit: $120,000 • 10 units: $1,200,000 • 20 units: $2,400,000 Pure incremental • 50 units: $6,000,000 profit • 75 units: $9,000,000 • 100 units: $12,000,000 17
  19. 19. Benefits • Innovative use of existing space • Create a branded destination • Simple and easy for members to use • Human capital vs capital, minimal upfront investment • Create leadership and distance from competitive set • Revenue-generating idea 18
  20. 20. Contact Joe Lee 201. 923. 3308 19