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Entries in crowdfunding (3)

Tuesday
Jan122016

IHRSA 2016 Session Spotlight: Raising Capital in the New World of Crowdfunding

It wasn’t too long ago that the word “crowdfunding” didn’t exist, and now entrepreneurs are using the practice to raise billions in capital for their business ventures—including health clubs.  

“The world of raising capital is changing as fast as technology is changing, and it’s allowing club owners and would-be club owners to access capital throughout the country and around the world,” says Jim Zupancic, chairman & CEO of Stafford Hills Club in Tualatin, OR. “Years ago, you had to go through a very complicated and expensive procedure to be able to raise money. Now, entrepreneurs have this new ability to be able to raise money using crowdfunding, meaning you can use public media to make your request for funding support.”

In the Monday, March 21 IHRSA 2016 session, “Raising Capital in the New World of Crowdfunding,” Zupancic will provide step-by-step instructions on how health club operators can use crowdfunding to open a club, expand their business, launch an app, create a wearable device, and more.

“There’s a lot that’s happening in our industry that’s going to require capital to fund a new idea and a good idea—and that may not be building a brick-and-motar club,” he says.

The session will provide attendees an in-depth look at the crowdfunding process. Attendees will come away from the session understanding: 

  • The fundamentals of raising capital via crowdfunding
  • The many crowdfunding resources that are available
  • How to qualify yourself to use crowdfunding
  • Crowdfunding rules and regulations
  • The advantages and disadvantages of crowdfunding

“What we really want to do is provide a very informative, passionate, and exciting look at a brand new universe of access to capital that people just haven’t had before these crowdfunding websites,” Zupancic says. “Attendees will be more fully informed before they approach this particular avenue to use crowdfunding as a potential funding source.”

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Friday
Oct102014

Fitness Industry Pair Look to Crowdfunding for Startup

Crowdfunding - funding a project or venture by raising contributions from a large number of people, typically via the Internet -  has paid off for two companies in the fitness sector.

1Rebel, a U.K. health club startup, had raised close to $1.7 million from investors within two weeks of its listing in early July on CrowdCube.com, and, as of Aug. 12, had raised about $2.3 million from 265 people, exceeding its goal of approximately $1.9 million. In return, 1Rebel had offered its investors 31.5% of the company’s equity.

With 13 days of its offering still to go on the site, 1Rebel was 121% funded. The largest single investment was for $966,690.

The brainchild of James Balfour, the son of Mike Balfour, the founder of the U.K.’s Fitness First, and Giles Dean, a leisure startup specialist, 1Rebel plans to launch a chain of boutique fitness studios focused solely on high-intensity training.

The first studio is scheduled to open this month in central London. Members will be able to book classes online and via an app on a “pay-as-you-go” basis.

Wednesday
Jul092014

Crowdfunding: a way for clubs to raise money?

Do you want to raise money to expand your club, or to embark on a new project, or do you know someone who does? The good news is that crowdfunding may soon be an option.

Recently, crowdfunding has become an effective way for people to solicit money from a large group of individuals who are interested in supporting a particular product—in exchange for some token benefit or gift. It’s easy for would-be investors to go to Websites such as Kickstarter.com or Indiegogo.com, two of the better-known funding sites, to show their support for startup companies, film projects, art initiatives, social causes, and other undertakings they regard as interesting or important.

One fitness-industry-related example is Gymwatch, a German product that detects when exercises are performed incorrectly by tracking range of motion and measuring strength, muscle loads, and reps. A campaign launched on Indiegogo in April had yielded $81,048 toward a goal of $85,000 by May 13 - 11 days before the end of the campaign.

 For more examples and how you can crowdfund, read the rest of the story in CBI.