After completing product development with $100M+ from over 400 investors in its technology platform, FORME (NASDAQ: TRNR) is ready to commercialize it’s game changing at home fitness offering.
There is a big innovation push within the made for consumer fitness equipment market. The evolution of fitness machines has been taken to new heights by the tech sector and smart home gym connected hardware have been the latest rage.
Imagine having the perfect gym and your own, real personal trainer (not AI) and if that gym wasn’t across town, but in your living room. FORME is offering just that and this emerging company is connecting consumers with personal trainers and introducing a new way to train from home.
The company has created an all-in-one smart home gym designed to connect people with real, elite coaches in all areas of fitness and wellness, including personal training and specialized sport instruction, nutrition, sleep, mindfulness, and injury rehabilitation.
FORME’s smart home gyms have been recognized by major fitness publications in 2023, such as Men’s Health, Shape, and Good Housekeeping as the best in at-home fitness.
The company recently went into mass production of its smart home gym products and is raising capital to fund commercialization and rapid growth.
Peloton revolutionized the fitness industry by bringing the cardio gym to the home… newly traded FORME (NASDAQ: TRNR) is creating a brand-new health and fitness evolution!
The U.S. health and fitness industry is booming and is showing no signs of slowing down anytime soon. Staying healthy and looking good will never go out of style and the pandemic forced more people to take their health routines at home. This evolution changed the at home fitness market considerably and created a market for FORME to thrive in.
This puts the spotlight on FORME (NASDAQ: TRNR), a newly public digital fitness company that combines award-winning smart home gyms with 1:1 personal training (from real humans).
The company has a goal to deliver an immersive experience and better outcomes for BOTH consumers and trainers.
The combination of stay-at-home exercise and socially distanced socializing has led to a “new normal” in health and fitness. The home-fitness equipment business grew by 170%, and fitness app downloads grew by 46% worldwide.
The Peloton (NASDAQ: PTON) brand (which has a 3.5B+ market cap) became a household name, and other similar products like the Mirror, Hydrow, and Tonal also entered the market, backed by celebrity endorsers.
There have always been proponents of at-home workouts, but the justification for many to avoid the gym is now more profound than ever since the pandemic. This will undeniably affect the popularity of gyms moving forward and emphasize the growing at-home workout arena.
This is an exciting time to pay attention to FORME’s stock (Nasdaq: TRNR), as the company is now ready to commercialize after a recent IPO!
In the last five years, FORME has raised $120M from investors during development. The money from its IPO will help the company transition to rapid growth as it forges ahead with its commercialization efforts.
Wellness Services are Gaining Share and Coaching Services are Just Starting to Digitize.
In fitness, nearly 70% of spending has historically been weighted toward products rather than services, according to McKinsey. However, wellness services and apps are gaining ground. According to McKinsey, in 2022, approximately 45% of consumers intend to spend more on wellness services or app-based wellness services over the next year, while approximately 25% intend to spend more on fitness products.
Health coaching can often result in optimal fitness outcomes because coaches offer expert guidance, accountability, and motivation, but the Company believes that these services have historically been inaccessible to many due to cost and lack of convenience. The company believes digitization can lower the cost of personal training and health coaching, primarily due to lower distribution costs relative to gyms. Further, digitization can increase peak capacity and utilization for service providers, and increase convenience for clients.
The design and technology of the platform enables members to engage in a virtual yet truly immersive training experience, whether through On-Demand classes or through Live 1:1 personal training services.
The company’s VOD content library and instruction and health coaching services are accessible via download or streaming through its connected fitness hardware products, as well as via streaming through the Studio app.
They are offered at different price points depending on format and, in the case of Live 1:1 training, personal training services, depending on the needs of the member and the experience level of the personal trainer.
Household trends, work from home, and the rise of mobile technology make it challenging to balance time between family, work, and personal health and wellness, resulting in increasing demand for convenient fitness options. Digitization increases convenience of fitness options for consumers, enabling them to train from home and increasing flexibility to schedule with trainers from different time zones. Trainers are increasingly becoming attracted to digital platforms as well. Digital platforms reduce the time spent on traveling to clients, while value-added tech tools increase efficiency and effectiveness. According to the Personal Trainer Development Center, nearly 83% of trainers plan to offer virtual services compared to 40% of trainers prior to the COVID-19 pandemic.
Growth Strategies - Increase Uptake of Add-on Services Through Compelling Member Experience
The company intends to increase uptake of its add-on memberships and services by providing a compelling member experience focused on introducing members to the variety of services available on its platform and specifically, the value-added benefits of its coaching and personal training offering. believes their ability to provide service offerings at several price points will serve as a valuable lever for growth by increasing overall service revenues over time.
The company’s financing programs have successfully broadened their base of members by attracting consumers from a wider spectrum of ages and income levels.
A Big Addressable Market
Over the five years to 2022, revenue for the Personal Trainers industry is estimated to rise at an annualized rate of 1.9% to $12.3 billion, including a 0.2% increase in 2022 alone.
At-home fitness has really expanded its reach in the last two years, with 85% of those surveyed by GoodFirms emphasizing "the importance of emotional, mental, and spiritual health to promote overall physical wellness and quality of life."
Successful brands should seek ways to incorporate their products into a broader scope of wellness, looking at all forms of healing.
Companies like (NASDAQ: TRNR) with the vision to adapt, innovate and diversify health and fitness, stand to gain loyalty by bringing consumers more choice, more flexibility and more direction in how to train.
Growth Opportunity - Strength is Bigger than Cardio and Just Beginning
Stock Research Today is a project of Virtus Media Group LLC and intended solely for entertainment and informational purposes. Consult your financial, investment and tax advisors to determine what financial and tax strategies may be right for you. Investor protection and other important information is available at https://www.sec.gov/. This website / media webpage is owned, operated and edited by Virtus Media LLC. Any wording found on this website / media webpage or disclaimer referencing “I” or “we” or “our” or “Virtus Media” refers to Virtus Media LLC. This website / media webpage is a paid advertisement, not a recommendation nor an offer to buy or sell securities. Our business model is to be financially compensated to market and promote small public companies. By reading our website / media webpage you agree to the terms of our disclaimer, which are subject to change at any time. We are not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature and therefore are unqualified to give investment recommendations. Always do your own research and consult with a licensed investment professional before investing. This communication is never to be used as the basis for making investment decisions and is for entertainment purposes only. At most, this communication should serve only as a starting point to do your own research and consult with a licensed professional regarding the companies profiled and discussed. Conduct your own research. Companies with low price per share are speculative and carry a high degree of risk, so only invest what you can afford to lose. By using our service you agree not to hold our site, its editor’s, owners, or staff liable for any damages, financial or otherwise, that may occur due to any action you may take based on the information contained within our website / media webpage .We do not advise any reader take any specific action. Losses can be larger than expected if the company experiences any problems with liquidity or wide spreads. Our website / media webpage are for entertainment purposes only. Never invest purely based on our alerts. Gains mentioned in our website / media webpage may be based on end-of-day or intraday data. This publication and their owners and affiliates may hold positions in the securities mentioned in our alerts, which we may sell at any time without notice to our subscribers, which may have a negative impact on share prices. If we own any shares we will list the information relevant to the stock and number of shares here. Virtus Media business model is to receive financial compensation to promote public companies. To conduct investor relations advertising, marketing and publicly disseminate information not limited to our websites, email, sms, push notifications, influencers, social media postings, ticker tags, press releases, online interviews, podcasts, videos, audio ads, banner ads, native ads, responsive ads. This compensation is a major conflict of interest in our ability to be unbiased regarding. Therefore, this communication should be viewed as a commercial advertisement only. We have not investigated the background of the hiring third party or parties. The third party, profiled company, or their affiliates likely wish to liquidate shares of the profiled company at or near the time you receive this communication, which has the potential to hurt share prices. Any non-compensated alerts are purely for the purpose of expanding our database for the benefit of our future financially compensated investor relations efforts. Frequently companies profiled in our alerts may experience a large increase in volume and share price during the course of investor relations marketing, which may end as soon as the investor relations marketing ceases. Our emails may contain forward-looking statements, which are not guaranteed to materialize due to a variety of factors.
We do not guarantee the timeliness, accuracy, or completeness of the information on our website / media webpage. The information in our website / media webpage is believed to be accurate and correct, but has not been independently verified and is not guaranteed to be correct. The information is collected from public sources, such as the profiled company's website and press releases, but is not researched or verified in any way whatsoever to ensure the publicly available information is correct. Furthermore, Virtus Media often employs independent contractor writers who may make errors when researching information and preparing these communications regarding profiled companies. Independent writers' works are double-checked and verified before publication, but it is certainly possible for errors or omissions to take place during editing of independent contractor writer's communications regarding the profiled company(s). You should assume all information in all of our communications in incorrect until you personally verify the information, and again are encouraged to never invest based on the information contained in our written communications. The information in our disclaimers is subject to change at any time without notice. Compensation: Pursuant to an agreement between Virtus Media LLC and West Coast media , Virtus Media has been hired for a period beginning on 2023-04-28 and ending after one business day to publicly disseminate information about NASDAQ: TRNR. We have been paid twelve thousand dollars USD via ACH Bank Transfer.