How it started

During dinner with Mr. Slavic, we discussed potential competitors. I recalled an article I read about GymPass' transformation from an individual-based service to a corporate wellness program. GymPass started out as an SaaS like Gymhub. Essentially, the consumer would download his app, pay him a monthly fee, then have access to all of the gyms in his network. He then took the idea to a company to see if their employees would be interested in using his service at a discount. The company embraced the opportunity and that gave birth to the GymPass model as we know it. Unsurprisingly, the founder of GymPass was a lot more successful catering to organizations instead of individuals. Now, GymPass is only offered to organizations - not individuals. 

While Gymhub's purchasing model is slightly different along with our ambitions to provide individuals with the convenience that Gymhub offers, we concluded that in order to take full advantage of the platform's potential, we need to rollout a corporate benefit program. 

-Elliot

What is it

Gymhub's Corporate Wellness Benefit (CWB) enables employers to contribute payouts to employees' Gymhub accounts in order to allow them to stay on top of their health. This attracts talent and ensures access to more wellness resources. Also, with development, we'll be able to provide insurance companies an up-to-date log of employee gym activity and which may grant lower corporate health insurance rates.

How it works

We will first develop the program into Gymhub. The process requirements are these:

1. When a company enrolls in the benefit program, HR directors will have complete control over contributions and participants through the Benefit Management Portal (BMP). When an employee enrolls and is added to the system, an access code will be sent to their emails.

2. Employers will determine how much money they want to contribute to their employees' accounts and if they want to opt for the employer-compensated and/or employee compensated program availabilities.

3. HR will setup an automatically recurring payment schedule to employee accounts and the transaction will be processed. During the transaction process, Gymhub will extract a 5% fee at dispersion in addition to the 15% transaction fee at any purchase of gym passes. 

4. Once employees determine if they want to participate in the program, they will download Gymhub from the app stores. Once downloaded, employees will enter their access code upon signup.

5. Enrolled employees will receive, in their Gymhub accounts, their allotted amount at the beginning of every month.

6. Any unused credits will be returned to the employer minus a total of 20% in Gymhub processing fees minus Stripe fees at the end of 6 months post-contribution.

The Plan

We are working with a 401k provider to determine, develop, and test what is necessary for the CWB to culminate. They have 251 employees which means 251 potential participants. 

1. We will develop and integrate the CWB into Gymhub with a credit wallet for users and a management portal for HR.

2. The 401k provider will act as a testing ground for the CWB. We will analyze employer and employee satisfaction, then adjust. 

3. We will introduce the CWB to professional employer organizations (PEOs) at NAPEO, courtesy of our participant. 

4. We will begin working with payroll providers to integrate the CWB into payroll software, such as Paycom, PrismHR, etc.

5. Gymhub will be a benefit provider for companies across North America.

Notes:

• CWB is applicable to Trainerhub, but will begin as a Gymhub function.

• CWB will follow a similar expansion process to GymPass.

• Email us to stay in touch: elliots@gogym.net  schaeffers@gogym.net 

• We look forward to working with you all, and special thanks to Mr. Slavic