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Spogo

Sports Platform to Search, Book and Connect

UAE
Market: Tourism, sport
Stage of the project: Prototype or product is ready

Date of last change: 23.04.2020
Min investment
$  10.000
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Total required
$ 100.000
Rating
equalizer из 1000
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Idea

Spogo is a Digital Sports Platform to Discover Clubs, Trainers and Players, Book Activities of all types including Virtual and onlineTrainings and Organize Games. It also offers a software to manage sports venues and their availabilities.

Current Status

Website and mobile app have been built. We are at the go to market stage and our launch plan in April has been delayed due to Covid-19.
We are now pivoting and working to add 2 new features to cope with the situation:
1- Live virtual training for gyms and personal trainers through a video conferencing tool tailored for sports
2- Online workouts that service providers can post on their page for people to buy and stream on the platform

Market

Spogo has 2 main customer groups: end users and service providers. End users are active young adult sports players looking for the best quality / price facilities and trainers around them. They are health conscious, busy city dwellers looking for a fun ending to their day or have a desire to learn and improve their skills and be part of a sports community where they can meet people of the same sports interests and levels. It also includes tourists and business travelers who are looking to be active during their stay in Dubai in addition to family tourism directed at entertainment and kids activities. Service providers are sports clubs of all kinds, personal trainers and entertainment centers ranging from small size sports clubs to large size franchises spanning the country and beyond.
Sports and Fitness market is estimated to be at 1 Billion USD in 2020 and the entertainment market is estimated to have 5 Billion USD in revenue in 2020 in UAE. The Fitness market penetration rate is only 6% in UAE in 2018 so there is huge potential for growth compared to more mature markets like 15% in UK in 2018. Also, in Europe, the fitness market alone is estimated to be at 29 Billion USD in 2020.

Problem or Opportunity

Currently, Spogo is focused on addressing the Covid-19 problem for people to stay active in a time where sport centers, gyms and trainers are not able to work and where social distancing is now a major part of our lives.


In additon, Spogo, initially and once we are done with current situation, addresses needs for active people and service providers:
Active people:
The main problem lies in the fact that active people today lack the tools to easily find and book the sports services and activities they seek for themselves or their children or find partners to play with.
It is a problem of discovery (users now rely on word of mouth, google, facebook and other non-specialized platform that offer information too scarce to help and influence buyer’s decision) and a problem of scheduling / booking / paying for the sports service once they find what they are looking for (the current availability of pay as you go sports services is limited to few platforms that mainly focus on classes and day passes).
Finally, there is always the challenge of finding sports companions to play sports with and specially for tourists and newcomers, whether it is an individual or team sport, players often lack another person to play with or would be missing that last person or another team to complete their game.
Service Providers:
From the service providers point of view, there is always the need to get new customers in a highly competitive market as well as avoiding last minute cancellations while having a software to better manage their capacity.
Spogo addresses all the above needs by providing a sports, fitness and entertainment platform to discover clubs, trainers and players, book activities of all types and organize games and events. Spogo also provides a back end for service providers to manage their venues and operations.

Solution (product or service)

We have developed an all inlcusive sports, fitness and entertainment platform to discover clubs, trainers and players, book activities of all types inlcuding virtual and online trainings and organize games and events. It’s like the booking.com for sports.
The platform is divided into 3 main parts:
1- Database: A Database of all sports clubs, fitness, personal trainers and entertainment centers in any city we go to
2 - Booking software: A sports tailored booking system to sell all kind of services (Classes, Virtual classes, private lessons, virtual private lessons court and studio rentals, daily passes, packages and memberships)
3- Sports Community: A sports social network to connect people to play sports and create sports events. Users can invite other players for an individual game or post their event for the public to join or invite them for a virtual class.

Competitors

Spogo does not have a direct competitor due to the fact that we cover all sports and all services. We have competitors in different areas as below:
Classpass and Mindbody are 2 global players exclusively focusing on Fitness and Yoga group classes. Classpass has a monthly subscription model targeting users who are committed to weekly sessions and want to keep rotating between clubs (when a user goes to the same club more than 3 times a month, a high premium is charged). Mindbody is a facility management software provider that also has an app which brings together the subscribed studios. This limits the offerings found on their app as clubs need to be subscribed.
Other regional players such as Gymlib in France (mainly day passes to gyms), Malaeb (soccer court rentals) in the UAE and playtomnic in Spain are competitors in one aspect of the sport and one service (Courts or passes)

Advantages or differentiators

Currently the direct competition we face is in the fitness and yoga classes activities. When it comes to most other sports, there are no established platforms serving this purpose.

Spogo’s model, features and benefits are still unique in the market. It is the only pay as you go sports marketplace that combines all sports and all services inlcuding online and virtual trainings (court rentals, classes, private lessons, memberships and packages) and connecting people to play. It is also offering a complete solution for service providers to manage their own facilities and staff, in addition to managing their availabilities on the platform.

We believe that by addressing both the B2C and B2B sides, we ensure a seamless, efficient process that allows us to outperform the competition. 2 successful examples that have adopted the same strategy stand out in other industries: Fresha (spas and salons) and Zomato (F&B, online ordering)

Finance

We expect to have 75000 paying users doing 3 bookings a month for an average Spogo fee of $4. Based on these estimates, we project a revenue of 6M USD in UAE alone by end of 2023.

Business model

We have different revenue streams that will be introduced as the business grows:
Phase 1:
Commission ranging from 10% to 25% from service providers (Sports Clubs and PTs) depending on the service
Live virtual trainings and online workouts
SAAS
Phase 2:
Subscription fees for premium features (premium listings, top search, etc)
Corporate memberships
Social Events Monetization (Joining fees, challenges, tournaments, etc)
Phase 3:
Sports Equipment Sales and Rentals
Sports events ticketing sale
Sports Ads

Money will be spent on

Developing and finalizing the new features for Covid-19
Business Operations
Sales and Marketing
Database growth and management

Offer for investor

We are willing to give 5 - 7% Equity for 100,000 USD depending on the added value that the right investor will add.

Team or Management

Risks

The risks are:
Failure to land service providers to sign contracts for bookings (We have signed 30 so far as pilots and are adding)
The complexity of covering all sports and services (To minimize the risk, we have conducted tests with service providers from different sports and asked for feedback to improve the system)
Users not liking the interface and experience (To minimize the risk, we have conducted user interviews that have been mainly positive with few comments which we implemented)
Customer Retention (Not loosing users by going directly to clubs and trainers, to mitigate this risk we are planning to give offers and discounts and added features that can be useful to users such as tracking their packages and memberships)
Lack of funding to run operations and do marketing to attract users to the platform

Incubation/Acceleration programs accomplishment

We have been incubated by In5 and were accpeted as a Tech startup at ADGM (Abu Dhabi Global Market).

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video