OVERVIEW
Paid Workout uses motivation techniques that are scientifically proven to spur action and help users stay consistent with their workout program. Users don’t have to subscribe to any specific type of program, rather, we put them in custom “Home” groups based on their fitness and activity goals. From there, users compete within their group on a weekly basis for a chance to earn cash rewards and get paid for working out. Our app is specifically designed to be target-group focused and process-oriented for ongoing motivation. It’s one of the first fitness apps to combine short-term goals and weekly payouts. We centered our focus on building a healthy lifestyle, that’s based on changing how our users feel and not how they look.
THE PROBLEM
We all know that one of the key tenets of maintaining one’s wellness is consistent physical activity. The US Department of Health and Human Services recommends 150 minutes of aerobic activity as well as strength training for all major muscle groups at least twice per week. Unfortunately , more than 75 percent of U.S. adults do not engage in the recommended amount of activity, and as many as 25 percent of Americans get no physical activity at all (Source). Stress, finances, gym anxiety, and time management are many of the contributing factors to people’s consistent lack of motivation to workout (Source).These stressors typically stem from people focusing on changing the way they look rather than focusing on how they feel.
To make matters worse, the COVID-19 pandemic led to a 32 percent decrease in physical activity for Americans (Source), and many scientists believe this reduction can have long lasting physical and emotional effects. One of the glaring problems the pandemic illuminated with modern-day fitness is that people are craving more flexible workout routines that are tailor-made for their lifestyles. It’s obvious that the same gym routines are not motivating people to become more physically active, so now more than ever, people need a new way to get motivated to work out.
THE SOLUTION
At Paid Workout, our goal is simple: we want to encourage people to maintain a healthy lifestyle by offering incentives to work out. People often begin their fitness journey without understanding why it’s important to them. They set broad, long-term goals that are ultimately unrealistic and when they don’t see results fast, they lose motivation over time. However, when a tangible motivator like money is introduced, studies have shown that adults can increase their average step count and fitness output by as much as 108% (Source). This is what we’re focused on at Paid Workout: motivating our users to get moving, not to change the way they look.
We designed our app to be as user-friendly as possible. Just download the Paid Workout app, take a fun, quick quiz so we can recommend the perfect group for you, and start investing in yourself by joining a $2-$10 challenge! We use a freemium pricing model, so the app is free to download, but there are additional tiers, features, or incentives that users can pay for. To get the full benefit users will subscribe to pay a weekly fee (auto-renewing) to continue participating in weekly home group challenge.
We have four, fun types of challenges for our users to choose from. Home Group challenges have users compete for 7 days against people of similar skills and capabilities. Dash to Cash has users crush a short workout and win! Enterprising users can enter our High Roller challenges to win big money jackpots. Lastly, our latest challenge, Dash on Demand invites users to smash a 30 or 60 minute workout anytime within a 24 hour period to win cash! If those challenges aren’t enticing, users are invited to create their own challenge so they can move with their family and friends!
For those users who don’t know where to start on their fitness journey, we plan to launch Coach programs and classes. Our amazing cast of coaches and trainers create week long programs or single on-demand classes. Users can join a coach program for $10 and have three on-demand training sessions where the top 3 on the leaderboard win CASH.
Our business model is simple. Users download the app, sign up creating a profile and join challenges with pay-ins. We derive profit when pay-in fees exceed the winners’ payouts. For Example: 25 people join a $5 challenge. Challenge top-line is $125. Paid Workout pays out $75 to the winners and the net profit is $50. Typical margins are anywhere from 40% -50% depending on the challenge.
Our vision is to reach many more users, create new coach guided challenges, host live and virtual marathons and other events. Additionally, we are creating a wellness marketplace within Paid Workout to showcase a multitude of health and wellness offerings and products to a captive audience. Finally we see opportunities to partner with insurance companies, and corporations looking to improve the wellness of their employees, as well as host coach guided challenges in marathons and other events.
OUR TRACTION
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Paid Workout quickly achieved a stout user acquisition of 10K users in 100 days, and we quickly tracked past 20,000 users within 6 months of launch with a current user base of 21,646 users. This speedy rate of acquisition can clearly be linked to the positive experiences our users are having with our app. Paid Workout is proud to boast a slew of positive reviews in the app store with amazing testimonials. This positive feedback not only proves to us that we’re connecting with our audience, but it also validates our claim that we have a product that meets the needs of the modern person. We’ve designed a pandemic-proof app, and these reviews support that claim.
What’s most impressive about our app’s early success is our conversion rate from free to paid membership of 13 percent, which is more than double that of industry standard. We attribute our success to our innovative business model, which empowers users to be the best version of themselves they can be. Our conversion rate confirms our philosophy that people no longer see fitness as simply losing weight; they see it as a means to augment wellness, which is what we’re all about at Paid Workout. Additionally, Paid Workout has been featured in prominent publications such as The Oklahoman and Grit Daily.
THE MARKET
The global app market is worth a whopping $4.4 billion ( Source). The North American share of the Fitness & Weight Loss Apps alone is worth $839 million, and we aim to make our mark in that sector. Where we really set ourselves apart from our competitors is that our app can augment virtually any fitness app due to Paid Workout’s business model of rewarding people to be active. Alone, our app is fantastic, but when used with another fitness app, it can be even better. We believe this flexibility lends itself well to collaborations and partnerships down the road.
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While competition is fierce in the fitness app space, there are several factors that set Paid Workout apart. We’ve developed an app that takes into account scientifically proven motivation factors. We’ve developed a motivation model called PRISE and every part of the app experience stems from the science of motivation. PRISE stands for Process Oriented, Realistic, Interim, Specific & Energized, this is the experience you will get from Paid Workout.
Moreover, we focus on inclusion and variety. We target people attitudinally and behaviourally, we call them motivation seekers, and we love creating a connection and driving accountability - that’s what separates us from our competitors. Our focus on variety led to the development of the “You do You” philosophy, which allows our users to pursue their favorite activities for points. Whether users love running, spinning, yoga, tennis, golf or basketball, all activities count towards active scores. This approach gives Paid Workout the ability to market to people from all experience levels, from newbies to advanced and any level in between!
We don’t focus on superficial things like weight loss or bodybuilding; we focus on getting people to invest in their health. We designed accountability challenges that are geared for all ages, body types, and experience levels to keep people motivated and excited about fitness. Lastly, we aim to create a sense of connection and accountability for the user by building a platform that gamifies fitness and movement. This idea leverages proven, reward-based psychology that gives users a sense of reward, confidence, and exhilaration. All for a small fee!
WHY INVEST
Physical activity is a pillar of wellness, which is why we created Paid Workout to inspire people of all shapes, sizes, and backgrounds to get moving. We found early success by staying true to our goal of having people investing in their wellness, and our easy-to-use app and fun, flexible workouts have proven that we have what it takes to be the best fitness platform on the market. With your investment, we will better the lives of everyday folks while disrupting a billion-dollar market and driving shareholder value. Join Paid Workout and invest in a healthier future.
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Company | : | PaidWorkout Corp. |
Corporate Address | : | 2301 Collins Ave Suite 318, Miami Beach , FL 33139 |
Offering Minimum | : | $9,999.60 |
Offering Maximum | : | $1,069,997.50 |
Minimum Investment Amount(per investor) | : | $250.25 |
Offering Type | : | Equity |
Security Name | : | Class B Common Stock |
Minimum Number of Shares Offered | : | 15,384 |
Maximum Number of Shares Offered | : | 1,646,150 |
Price per Share | : | $0.65 |
Pre-Money Valuation | : | $5,010,416.45 |
*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.
Investment Incentives and Bonuses
Time-Based
Friends and Family - First 5 days | 15% bonus shares
Super Early Bird - Next 72 hours | 10% bonus
Early Bird Bonus - Next 7 days | 5% bonus shares
Amount Based
Tier 1 perk - ($500 + free month of challenges (home groups))
Tier 2 perk - ($1000 + Exclusive investor challenge + PW Swag)
Tier 3 perk - ($5,000+ Exclusive investor challenge + free high roller + PW Swag)
Tier 4 perk - ($10,000+ Exclusive investor challenge + free high roller entry + new apple watch + 5% bonus shares)
Tier 5 perk - ($25,000+ Exclusive investor challenge + free high roller entry + new apple watch 10% bonus shares)
Tier 6 perk - ($50,000+ Exclusive investor challenge + free high roller entry + new apple watch + 15% bonus shares)
*All perks occur when the offering is completed.
The 10% StartEngine Owners' Bonus
Paid Workout Inc., will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.
This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Class B Common Stock at $.65 / share, you will receive 110 shares of Class B Common Stock, meaning you'll own 110 shares for $65. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid during the investor's eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.
Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.
* Note that non-bonus share perks do stack with the other live offering perks. All perks occur when the offering is completed.
* All perks occur when the offering is completed which will be the highest bonus rate they are eligible for.
Perk Information
Investor Challenge - We will create a special investor challenge that only investors at these levels will be able to see and participate in. They will have to create profiles on the app in order to participate and we can set the payout @ $1000 and we can either do cash payout and certificate for bragging rights or we can direct the payout to any charity the winner chooses.
PW Swag – we have workout clothes (leggings, shirts, t-shirts) and water bottles that we can send in a branded box with a personalized thank you card
High roller challenge – free entry into our current running high roller challenge on the app
Free month of Home Groups – user registers for app and is given 4 free weeks of home groups to participate in and potentially win cash!
Nicole Pekerman, the Company’s CEO and Director plans to invest $50,000 in the Company’s current Reg CF offering once the Company has reached its minimum funding goal.
Michael Bluestein, the Company’s COO and Director plans to invest $50,000 in the Company’s current Reg CF offering once the Company has reached its minimum funding goal.
Mila Pekerman - Mother of CEO and Director plans to invest $100,000 in the Company’s current Reg CF offering once the Company has reached its minimum funding goal.
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.
[The following is an automated notice from the StartEngine team].
Hello!
As you might know, PaidWorkout has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in PaidWorkout be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
[The following is an automated notice from the StartEngine team].
Hello!
As you might know, PaidWorkout has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in PaidWorkout be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
Last Friday Paid Workout CEO, Nicole Pekerman had the opportunity to chat with the CNBC Tampa team!!! She chatted all things Paid Workout and Fitness with the phenomenal Gayle Guyardo on Bloom. BLOOM is Tampa Bay’s only daily 1-hour TV show focusing on health & lifestyle. She did the #fitnessfriday segment and quick HIIT too.
Check out the FilmDaily article to read more about how Paid Workout will help to you get motivated to be the best version of yourself!!!
The PW team is ALWAYS committed to listening to user feedback. Our incredible community has spoken!
So here they are just in time for your NY Resolution! FREE TOKEN CHALLENGES!!!
1. Users join Token Dashes and Home groups for free!!!
2. They earn Tokens for Wins!
3. Then use Tokens to register for cash challenges
From holiday classes & challenge milestones to daily check-ins & achieving their goals - Our users will earn every time they open the app!!! Even just looking at their daily active scores on their profile will earn them 5 Tokens a day! PW tokens can be used to enter cash challenges. Every 150 tokens converts to $5 registration fee for a cash challenges so users can workout. win. and get paid!
[The following is an automated notice from the StartEngine team].
Hello!
As you might know, PaidWorkout has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in PaidWorkout be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
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