PaidWorkout

The Fitness Motivation App That’s Gamified Wellness

PaidWorkout

The Fitness Motivation App That’s Gamified Wellness

Miami Beach , FL
Health Tech
Paid Workout is a fitness motivation app that gamifies and incentivizes fitness and activity. We believe this app is driving the growth of wellness gaming! Founders Nicole Pekerman and Michael Bluestein saw an opportunity to motivate people to jump-start their fitness journey by customizing and rewarding short-term wins as an encouragement model. The British Journal of Sports Medicine determined that regardless of fitness level, frequency of exercise, or the reason for working out, people are much more likely to maintain a fitness program when money is involved.

$156,730

raised
26
Investors
$5.01M
Valuation
$0.65
Price per Share
$250.25
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
Reg CF
Offering

$156,730

raised
26
Investors
$5.01M
Valuation
$0.65
Price per Share
$250.25
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
Reg CF
Offering

Rewards

Get rewarded for investing more into PaidWorkout:

$250+
Investment
StartEngine Owner’s Bonus
This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.
$500+
Investment
$500+
Free month of challenges (home groups)
$1,000+
Investment
$1000+
Exclusive investor challenge + PW Swag
$5,000+
Investment
$5000+
Exclusive investor challenge + free high roller + PW Swag
$10,000+
Investment
$10,000+
Exclusive investor challenge + free high roller entry + new Apple watch + 5% bonus shares
$25,000+
Investment
$25,000+
Exclusive investor challenge + free high roller entry + new Apple watch 10% bonus shares
$50,000+
Investment
$50,000+
Exclusive investor challenge + free high roller entry + new Apple watch + 15% bonus shares

Reasons to Invest

Acquired more than 20,000 in its first 6 months of launch, paid users over $65,000 in payouts while also creating a marketplace for fitness enthusiasts and a platform for trainers to monetize their audience.
They have a conversion rate from free to paid membership of 12.5% percent, which is more than double that of industry standard. 

The global fitness app market is $4.4 billion and the global fitness industry is worth close to $100 billion.

OVERVIEW


Bet on yourself because health is wealth


 

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


People lack motivation to be fit




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


An app that pays you to move 


  

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


We are moving the masses!

 

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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


We keep our eye on the PRISE

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


Invest in us to invest in yourself



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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Offering Summary


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











Terms


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.

Irregular Use of Proceeds

Example - The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments and salary made to one's self, a friend or relative; Any expense labeled "Administration Expenses" that is not strictly for administrative purposes; Any expense labeled "Travel and Entertainment"; Any expense that is for the purposes of inter-company debt or back payments.

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Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$52,524.00 USD
$0.00 USD
Cash And Cash Equivalents
$524.00 USD
$0.00 USD
Accounts Receivable
$0.00 USD
$0.00 USD
Short Term Debt
$117,240.00 USD
$0.00 USD
Long Term Debt
$0.00 USD
$0.00 USD
Revenues And Sales
$0.00 USD
$0.00 USD
Costs Of Goods Sold
$64,716.00 USD
$0.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
-$64,716.00 USD
$0.00 USD

Risks

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.


Updates

LEADING BUSINESS MOGULS AND WELLNESS FANATICS STEVE MANDELL AND MARC ELKMAN JOIN PAID WORKOUT AS NEW SHAREHOLDERS AND ADVISORS

19 days ago

Strategic partnership allows Paid Workout to tap into the expertise of an 8-figure food tech entrepreneur and a highly successful licensing and media specialist 

MIAMI BEACH, FLORIDA – NOVEMBER 12, 2021 – Paid Workout Corp., an innovative fitness motivation app and leader in wellness gaming, today announced the appointment of dynamic duo Steve Mandell and Marc Elkman to its Advisory Board and as new shareholders for their brand. This strategic partnership will allow Paid Workout to tap into the expertise of a well-known 8-figure food tech entrepreneur, and a highly successful licensing and media specialist to further strengthen and grow their brand. 

Since, both new appointees bring an array of talent, grit, and innovation into the world of fitness, the combination of their expertise is sure to explode the Paid Workout vision and transform the fitness tech industry as we know it. In fact, Marc Elkman became an 8-Figure Entrepreneur in his 20’s as the Food Tech Founder/CEO of Fresh Meal Plan. Visit https://try.freshmealplan.com to learn more. In 2015 & 2016 he was selected for INC500 (# 70 Fastest-Growing Private Company in the U.S, 200 employees). Furthermore, he sold Fresh Meal Plan to a Private Equity firm in 2016, and raised money from all tranches of capital at a 10x multiple.

As a health and wellness enthusiast, Marc is also an owner of eight Orangetheory Fitness establishments in the South Florida Region.

 

“I never invest my time or my money in anything that I’m not truly passionate about, and, I am very passionate about Paid Workout and their platform to help people become more engaged in health and wellness,” said Marc. “I look forward to sharing my advice and counsel to this team as they grow this brand to impact millions of people in need of motivation to get fit.”

 

Alongside Marc and bringing his dynamite, is Steve Mandell. Steve Mandell is widely known as an innovative entrepreneur, the CEO of Gameplan Entertainment and has 30 years of experience in negotiating top-tier agreements in sports, media, business, licensing and brand development.  

 

Mandell is also an avid athlete and lover of challenges. He works out daily and if you give him a challenge, any challenge, he goes full throttle. Given Paid Workout is all about challenges and people improving themselves, Mandell loved this new approach to fitness motivation. It isn’t about weight or the number on a scale, this is about effort and exertion and feeling great inside and out.  Find out more about Steve and connect here. https://www.linkedin.com/in/mandell-steve.  

 

“Once Steve and Marc connected with the Paid Workout team, the energy was electric. Both of these guys believe in the motivation model and they love the opportunity to work with brands like ours that are helping to drive fitness innovation. We couldn’t be happier working with such a phenomenal team.” Nicole Pekerman, co-founder Paid Workout stated.

 

To learn more about Paid Workout, visit https://paidworkout.com/

Paid Workout Finalist for Best Social Commerce Campaign!

about 1 month ago

Such exciting news!!! - Paid Workout's influencer launch campaign is a FINALISTS for the 'Best Social Commerce Campaign' with Performance Marketing Awards. Link below!

https://lnkd.in/gfZwBPE4

We are thrilled that our Paid Workout campaign is recognized among top campaigns in this category with international brands!

Check out Co-founder, Nicole Pekerman's Interview with GoSolo!

about 1 month ago

Click on the link below to read about Nicole's entrepreneurial journey, her best advise to new founders and her business philosophy! Earn Money While You Workout - Paid Workout





Paid Workout is Excited to Announce Orangetheory Fitness Collaboration!

about 1 month ago

Who’s excited for Orangetheory Fitness Hell Week 2021??? We are!!!

Paid Workout Corp. is thrilled to announce our first collab with Orangetheory Fitness. 

We’ve partnered with 5 select studios in Florida to run Paid Workout Challenges daily during the most thrilling week at Orangetheory, Hell Week. 

Members can win cash daily! Best of all we have a double down $1000 challenge. Members are betting with their sweat and loving it!!!


We've Raised Over $110K in just 48 hours!!!

about 1 month ago


Our offer has only been live for 48 hours and we've already raised over $110,000!

Thank you to everyone who has rallied behind our company and share our vision for the

future of the Wellness Gamification industry and Paid Workout!!!

We want to welcome our  investors and followers to the #PWHustler family.

- The Paid Workout Team

Investment Disclosure

about 1 month ago

Nicole Pekerman - CEO Director - (up to $50,000)
Michael Bluestein - COO Director - (up to $50,000)
Mila Pekerman - Mother of CEO Director - ($100,000)

(Once committed, these investments cannot be rescinded)

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