Solving the Problem

Solution: The problem I have identified is the absence of industry-specific CRM (Customer Relationship Management) software capable of following the sale of fitness equipment through its entire lifecycle, including maintenance and eventual replacement of the equipment. As I discovered via the interviews conducted in Part 7A: Testing the Hypothesis, the quality of a fitness center’s equipment is a primary factor in a prospective customer’s decision whether or not to purchase a membership at the facility. Currently, the leading B2B CRM market offers only cookie-cutter solutions that fail to allow the seller to follow the product throughout its lifecycle for the purposes of upselling and customer retention.

My solution to this problem is a specially-designed, industry-specific CRM with functionality that automatically prompts sellers to follow-up with buyers at regularly scheduled maintenance intervals, eventually leading to an additional sales opportunity when an aging product requires replacement. This creates a cyclical and consultative sales process, allowing the seller to leverage a variety of additional sales opportunities, including warranty agreements and repair services. These opportunities may be included with the initial purchase as an upsell or sold separately. 

This software, like most CRM software products, would be sold under a multi-user license agreement (either concurrent or FTE based on customer needs) with a monthly fee. The software could initially be tested in large cities with high-traffic, high-membership fitness center franchises (e.g. Tampa, Orlando, Miami). If successful, these franchises may spread awareness and use of the solution to surrounding franchises under the same brand (e.g. Anytime Fitness, Planet Fitness, Crunch, Gold’s Gym), thereby providing a pathway to scale this venture as it matures.