This Company is in the Business of People Betting on Themselves, and Winning Cash While Doing So

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You know what they say: money's the motivation. 

So what if it was also the motivation for you to finally drag yourself to the gym? Or complete that home workout you’ve been putting off? Imagine someone puts cash in your pocket after you break a sweat, each and every time.

Sounds a little too good to be true?

Not so fast, Paid Workout says it has been paying its users to work out on its app that is free to download. Born from the scientific evidence that a tangible reward increases motivation, the company wants to be the best fitness motivation app you’ve ever used. 

Health is Wealth

It’s no surprise that within its 6 months of launching, the company stated that it acquired more than 20,000 users and paid users over $65,000 in its fitness motivation challenges — all while creating a marketplace for fitness enthusiasts and a platform for trainers to monetize their audience. 

Paid Workout says it has currently more than double the industry standard conversion rate from free to paid membership at 12.5%. With the global fitness and health club industry reported to be worth $96 billion U.S. dollars in 2019, the app fits nicely in the space of the world’s growing health-conscious market. 

Not to mention, the company has strategic partnerships with on-trend OrangeTheory Fitness and CEO of Fitfighter, Sarah Apgar (featured on NBC’s Shark Tank), and are looking to cultivate additional relationships with key organizations in the health, wellness, and fitness spaces. 

“Our business model is simple. Users download the app, sign up creating a profile and  join challenges with pay-ins,” Paid Workout Director, Co-Founder and CEO Nicole Pekerman said.

“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% to 50%, depending on the challenge.”

Services Provided

Paid Workout says its app is one of the first fitness apps to combine short-term goals and weekly payouts, through 30- to 60-minute daily challenges, weekly workouts and even has custom group or personalized coaching options. 

Users don’t have to subscribe to any specific type of program; rather, they’re put into personalized custom “Home” groups based on fitness level and activity goals. From there, they compete within their group on a weekly basis, creating a sense of community and competition while vying for a chance to earn cash rewards. 

The app is free to download via Apple Inc.’s APPL App Store and Alphabet Inc.’s GOOGL Google store, but additional tiers, incentives and subscriptions are available.

Where does the company seek to grow? The possibilities are endless, Pekerman said. 

“Our vision is to reach many more users, create new coach-guided challenges, host live and virtual marathons and other events and create long lasting partnerships with top health, wellness and fitness brands. Additionally, the 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.”

Paid Workout said it first: fueled by fitness, supported by community, compensated with cash. You can visit https://www.startengine.com/paid-workout to invest and https://paidworkout.com/ to learn more about the company. 

This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.