b=2554
b_uuid=knf1xz6DKK-NeCIteGIsdw
p=183
p_uuid=WnJ-W1rHjPIuaDc9XDu1vg

1FLEX

Malaysia 1st Home Fitness Platform

SUMMARY VIDEO

COMPANY DETAILS

SUMMARY 

1Flex is Malaysia's 1st home fitness platform that offers online workout classes and programs via our mobile apps.  Founded in 2020 during the pandemic while the country was in MCO lockdown, 1Flex was created to provide a safe and convenient way for Malaysians to get into a fitness routine with home workouts.  

1Flex's approach to home fitness is to create challenges and programs that can be tailored to our users’ fitness goal, needs and lifestyle.  Our programs can be categorised into 3 which are Get Strong, Lose Weight and Get Fit. In addition to this, each of our user is assigned an in-house certfified coach to guide them throughout the program to achieve their fitness goals. 

 

PROBLEM 

 

 

COVID-19

The pandemic has disrupted the global fitness industry as experts believe gyms are potential source of outbreak/cluster for spreading the virus.   There have been many cases of gym clusters around the world including in Malaysia (link).  As such, people turned to home fitness to stay healthy and fit during this pandemic. 

Post-COVID

There will be a subset of people that will stay with home fitness post pandemic as they realise the convenience factors and lower cost of home fitness compared to paying monthly gym memberships.  Besides that, home fitness has been a fast growing space before the pandemic as people become increasingly busy with their lives and find it hard to spend the time to drive to the gym, workout in a crowd, and then drive home.  There are fast growing players in home fitness that have been around before the pandemic.

Rising Health Awareness

Malaysians are increasingly health conscious due to

  1. Growing middle class with college education and disposable income
  2. Large overweight population and related health issues such as diabetes and strokes
  3. Unsustainable medical cost inflation (prevention is better than cure)

 

SOLUTIONS

Programs created in-house by certified coaches to catered to our members’ fitness level and goals

3 pillars of 1Flex programs targeting different fitness goals:

  1. Lose Weight
  2. Get Strong
  3. Get Fit

Each program is 4-8 weeks long 

Curated Programs

 

Online Coaching 

 

Local Fitness Influencers
  1. Our trainers are either instructors at popular local studios and have a loyal following or certified personal trainers with their own clients
  2. The popularity of our trainers bring initial attention to our workouts and programs
  3. These trainers are eager to work with us because 1Flex pay a better rate than their average class rate (the recorded workouts stay in our library forever) and COVID has impacted the attendance of physical gyms

 

PRODUCT

1Flex platform is available via our mobiles apps on Google Playstore and Apple Appstore.  Users can also use it on the computer browser.  Our user interface and experience are all designed to be mobile first but our workout videos can be streamed to the TV for convenience. 

 

TRACTION

1Flex was launched in Oct '20 after a 2 week beta in Sept '20.  In the brief period of time (approximately 3 months), we have close to 1,000 registered users, and currently adding about +10 users a day.  While we have not prioritised converting them to Premium Users, we currently have RM2,000+ in subscription revenue that are recurring.  

 

CUSTOMERS

1Flex's current target customers are:

  1. Malaysians
  2. 70% women and 30% men
  3. Young working adults, aged 20-40 
  4. Beginner to intermediate in fitness level and experience

 

BUSINESS MODEL

1Flex operates on a "Freemium" model of subscsription-based business model.  This means we have two tiers of membership:

  1. 1Flex Lite - A free version of 1Flex membership with limited access to our programs and features

  2. 1Flex Premium - A paid version of 1Flex membership with full access to our programs and premium features such as rewards and personal coaching

In the first year, 1Flex will prioritise gaining users to its 1Flex Lite membership.  Then after building a strong and loyal community, 1Flex will start focusing on converting these users to our 1Flex Premium Membership with exclusive workout content and features.

Here is our current pricing plans

User Acquisition Strategy

Organic

  1. Facebook, Instagram, etc.
  2. Youtube
  3. Google SEO and keyword ads
  4. Trainers and Users
  5. Influencers

Partnerships

  1. Insurance companies (in discussion with Zurich)
  2. Fitness apparel (upcoming collboration with LIVLOLA)
  3. Health trackers (WPM Online)
  4. Others (W Hotel, Activ Studio, Movement Method)

 

MARKET

1Flex's addressable market (TAM) in Malaysia is large and fast growing.  In fitness alone, the TAM is close to RM 1 billion and growing at 10% as Malaysians are increasingly more health and fitness conscious.

Beyond fitness, 1Flex will expand our platform in nutrition and supplements to help our users reach their fitness goals.  That sector is larger (RM4.5 billion), more competitive and saturated, but 1Flex would have the data and captive customers to cross-sell.

 

COMPETITION

There is currently no meaningful competitor in Malaysia but we do face competition from international players.  We believe 1Flex delivers more value and functions to our users compared to our competitors at a more competitive price. 

 

FUNDING

1Flex is raising a Pre-Seed funding round to further commercialize the home fitness platform.  Most of the funds (80%) will be used for content production (hiring trainers and shooting videos) and for marketing.   The remaining funds will be used for operating expenses such as rent and salaries.  The funds will be to provide us with 2 year runway until we reach profitability.  

VISION

1Flex is on a mission to get all Malaysians to combat inactivity and health problems through our simple & effective digital fitness platform 

Year 1: Home Fitness

  • Bodyweight exercises for at home workouts
  • Equipment based workouts for more intermediate users
  • Mobile first design approach

Year 2: Nutrition and Supplements

  • Nutrition and supplements to help our members achieve their fitness goals
  • Include healthy food, food replacement, and supplements 
  • Will be sold via subscription basis 

Year 3: Corporate Wellness

  • 1Flex membership as employee wellness benefit
  • Create solutions catered for HR to motivate employees and track progress
  • Large untapped market

 

The company has strong growth profile and will be profitable at the end of 2022

 

INVESTORS

To date, the company is bootstrap funded from the two Co-Founders, Lam Kok Chen and Gilbert Wulff via paid-up capital (RM20k) and shareholder loans (RM120k)  

 

FOUNDERS

Gilbert Wulff - CoFounder
  • 6+ years of full-stack web development
  • Previously senior developer at BuilderTrend, largest construction management software in USA
  • Bachelor of Science, University of Nebraska 

Eric Lam - CoFounder
  • 5+ years PE and VC investing in USA
  • Board Directors / Observers of 5 global startups
  • Startup investor
  • Bachelor (Highest Distinction) & MBA, University of Nebraska

 

TEAM

Mohd Hafizzat - Head of Fitness
  • 10+ years experience as fitness and performance coach
  • Adidas Strength Coach since 2018
  • High Performance Coach for Malaysia MotoGP riders
  • Co-Founder of Thrive Studio
  • Degree in Sports Science, UiTM

 

Nurul Nazifa - Head of Production
  • 5 Years of creative video production
  • Previously worked under Petronas Upstream
  • Co-Founded a creative collection called @kekabumi
  • Bachelor in Interactive Multimedia, Unikl MIIT

 

Amanda Lew - Head of Marketing
  • 6+ years of digital marketing experience
  • Previously senior marketing executive with Mah Sing Group
  • Experience in fitness startups
  • Bachelor, University of Hertfordshire

 

PRESS

AFO Radio Interview


Please login as an investor to see more information.

1Flex doesn't have any updates to show yet.



Please login or sign up to see the discussions.

!

RISK WARNING


Equity Crowdfunding is risky. You are investing in early stage companies which may not do well and could even fail. You could lose part or all of your investment. You may not be able to sell your shares easily.

Investments are speculative and carry high risks. To decrease exposure, these types of investments should only be made as part of a diversified portfolio. Spread your risks and only invest money that you can afford to lose. pitchIN wants all investors to understand these risks and make careful investment decisions. You are also encouraged to seek independent advice.