Interactive Strength Inc., doing business as FORME, together with its subsidiaries, operates an interactive home fitness platform that offers smart home gym with touchscreen mirror and accessories.
The company’s members are defined as any individual who has a Forme account through a paid connected fitness membership. Its interactive home fitness platform is known as the Studio, for which it continues to develop new accessories and add-ons to further customize a member’s experience (‘Connected F...
Interactive Strength Inc., doing business as FORME, together with its subsidiaries, operates an interactive home fitness platform that offers smart home gym with touchscreen mirror and accessories.
The company’s members are defined as any individual who has a Forme account through a paid connected fitness membership. Its interactive home fitness platform is known as the Studio, for which it continues to develop new accessories and add-ons to further customize a member’s experience (‘Connected Fitness Products’). Through the Studio, members can stream immersive, instructor-led boutique classes anytime, anywhere. The company enables members to get the most out of their wellness journey from their home.
The company offers Forme, a digital fitness service that combines premium connected fitness hardware products with expert personal training and coaching (from real humans) to deliver an immersive experience and better outcomes for both consumers and trainers. The company’s health coaching services encompass guidance and coaching on fitness training, nutrition, recovery, sleep, and other health and lifestyle categories. Its health coaching services are delivered primarily by its team of more than 38 trainers, as of December 31, 2023. All their trainers can deliver personal training and 22 of whom can also deliver health coaching in other areas of wellness.
The company provides two connected fitness hardware products, the Forme Studio (fitness mirror) and the Forme Studio Lift (fitness mirror and cable-based digital resistance). Its products are designed to provide a more integrated and immersive experience than similar connected fitness products on the market. The Forme Studio is its base product and features a 43-inch 4K ultra high definition (‘UHD’) touchscreen display, which is among the largest and highest definition screens in the connected fitness equipment market, and two front-facing 12 megapixel (‘MP’), wide angle cameras designed to facilitate seamless live interaction with a trainer. The Forme Studio Lift also features two cable-based resistance arms that can provide up to 100 pounds of resistance per arm. The company’s products ship with a set of premium accessories that are included with purchase. It also offers add-on accessories, including its barre, a unique accessory that attaches to the Forme Studio or Forme Studio Lift and enables members to incorporate a wooden ballet barre into their barre routines.
In addition to its connected fitness hardware products, the company offers expert personal training and health coaching in different formats and price points so that its members can customize their training plans according to their unique needs. Personal training comprises the majority of its health coaching services.
Video On-Demand (‘VOD’ or ‘On-Demand’): All members who purchase the Forme Studio and Forme Studio Lift are able to access its VOD content library by creating a Forme account and signing up for its monthly membership. Forme’s VOD content library includes hundreds of On-Demand classes featuring top fitness instructors in the Los Angeles area. Upon joining the Forme platform, each member is matched with a Fitness Concierge who works to understand specific needs and goals and then curates weekly fitness plans, including On-Demand classes from its VOD content library, that are designed to create a sense of accountability, structure, and motivation for the member. Members may cancel their monthly membership at any time, during which they would no longer have access to any of its VOD content or its health coaching services.
Custom Training: For members who desire additional personalization, its Custom Training provides members guidance from real personal trainers. Through Custom Training members work closely with one of their expert trainers who will deliver custom, guided programs that are specifically tailored to the members’ health goals in a range of areas, including movement, fitness, nutrition, recovery, and mindfulness. These programs can include a mixture of On-Demand classes and custom workouts, designed by the coach, with demonstration videos that the member can follow on the Forme Studio, Forme Studio Lift, or on the Forme iOS app (the ‘Forme Studio app’) at a time that is convenient for them. Additionally, Forme’s Custom Training service includes live, regular check-ins on progress, and will include two-way messaging through the Forme Studio app, enabling members to keep in regular contact with their trainer to review progress and celebrate successes.
Live 1:1 personal training: the company’s highest touch coaching offering is Live 1:1 personal training, which introduces live training sessions in its members’ training program. Members who opt into Live 1:1 complete an onboarding process and are matched with one of their expert trainers based on the member’s preferences and criteria. Once matched, the trainer takes the member through a fitness assessment during the first session then builds a personalized program for the member based on specific needs and goals. Through its internally developed Live 1:1 software platform strives to deliver a consistent and high quality user experience for both the member and the trainer that includes value added features like on-screen biometrics (e.g., heart rate and calories burned), an adjustable field of view for the trainer and other on-screen UI elements to provide context and motivation during a session. Coaches training members on the Studio Lift have the ability to adjust resistance for their members during a workout, providing an added level of personalization and service for the member. The company offers Live 1:1 personal training as a monthly membership, which includes four Live 1:1 training sessions per month, unlimited custom workouts (through its Custom Training offering), and access to its VOD library. The company has additional plans available for members who want to train live more frequently and/or need more customization from a health coach.
The company’s services are accessible via download or streaming through its connected fitness hardware products or via streaming through its standalone Forme Studio app, which is available through iOS mobile devices and most iOS tablets and computers. Members can access Custom Training and Live 1:1 personal training services through the Forme Studio app.
At the beginning of every member’s journey, they are matched with a Fitness Concierge who works to understand specific needs and goals. The company’s Fitness Concierge team is comprised of personnel with training and expertise in hospitality and membership experience, and with its connected fitness hardware products and health coaching services. In addition to curating weekly fitness plans for members, the Fitness Concierge team assists members from initial onboarding through the entirety of the membership experience, including answering general questions, assisting members with matching, and changing trainers depending on a member’s preferences, and addressing other member questions and concerns regarding their fitness goals and experience. The company’s Fitness Concierge team works with its health trainers to help ensure that each member is maximizing the value of their experience.
Growth strategies
The key elements of growth strategies are to increase uptake of add-on services through compelling member experience; reduce the cost of personal training and expand addressable market without sacrificing quality; build out partnership ecosystem; expand corporate wellness; and expand into new geographies.
Compelling Value Proposition
The company trainer recruitment engine was built by seasoned industry veterans from well-known personal training brands. Its hiring criteria is extremely selective, and its interview process consists of multiple rounds and programming reviews.
The company employs a rigorous methodology to match its members with a trainer that is the best fit for their goals. Because of its virtual platform, it can match members across a larger pool of trainers to find the perfect fit without geographical limitations. Its matching algorithm considers factors, such as fitness goals, motivation preferences, physical limitations, and more when presenting a match. In addition, its Fitness Concierge team works with members to pair them with a trainer based on the member’s unique needs, preferences, and goals.
Its Custom Training offering provides a full month of customized workouts created by a real personal trainer, and is priced at a fraction of the price of personal training.
The company offer qualified customers in the United States 12-, 18-, and 36-month, 0% APR financing programs through Affirm, its third-party financing partner. Its financing programs have successfully broadened its base of members by attracting consumers from a wider spectrum of ages and income levels. In 2023, approximately 7% of all Forme Studio or Forme Studio Lift units sold were financed.
Its coaching offering can be accessed through multiple platforms and devices so customers can workout at home or on the go. Its VOD content, and Custom Training offering, can be accessed at any time, providing members the flexibility to fit workouts into their lifestyle and schedules.
The company’s platform provides trainers the opportunity to work from home and eliminate time spent on the road traveling to gyms and clients’ homes. Virtual training also eliminates the inefficiency of ‘dead times’ during the afternoons, when trainers typically do not have clients. Its platform has created new opportunities for trainers to increase their earning potential, driven by increased capacity to take on clients during peak hours. The time saved from commuting can instead be spent with more clients.
Trainers on its platform also has the opportunity to continue their development through its proprietary education program. Upon joining, trainers must complete a mandatory eight-week program focused on honing their virtual training skillset. After onboarding, trainers are encouraged to participate in continuing education facilitated by its training team in order to advance their skillset on its platform, which in turn can increase the fees charged for their training services.
Forme Platform Offerings
The Forme platform delivers an immersive and dynamic at-home fitness experience through its VOD content, curated personalized fitness programming, Live 1:1 personal training, and other health coaching services, which are accessible via download or streaming through its connected fitness hardware products and via streaming through the Forme Studio app, which is available through iOS mobile devices and most iOS tablets and computers. The company’s connected fitness hardware products include the Forme Studio and Forme Studio Lift, as well as accompanying equipment and accessories. The design and technology of the Forme platform enables its members to engage in a virtual yet truly immersive training experience, whether through On-Demand classes or through its Live 1:1 personal training services. Its VOD content library includes a variety of individual classes and multi-week programs spanning a range of modalities, including strength training, meditation, barre, yoga, and recovery, among others. Through Its VOD membership, all of its members have access to a Fitness Concierge who can curate weekly personalized fitness programs free of charge to suit each member’s fitness level, needs, preferences, and goals, and help each member maximize the value of their Forme platform experience. In addition to providing a wide range of programs and On-Demand classes through its VOD content library, accessible via download or streaming through its connected fitness hardware products and via streaming through the Forme Studio app, the company offers Live 1:1 personal training and health coaching services that enable its members to workout with expert trainers from the convenience of their own homes or devices. As of November 2022, the company also offered memberships to the Forme platform without purchase of the Forme Studio or Forme Studio Lift.
Forme Studio Connected Fitness Hardware Products
Forme’s connected fitness hardware products include the Forme Studio, launched in 2021, the Forme Studio Lift, launched in 2022, and various accessories, including the Forme Barre attachment that can be used with both products. The Forme Studio and Forme Studio Lift were both designed to provide an immersive workout experience delivered through innovative hardware, software, and VOD content.
The company’s Forme Studio features include a 43’ fully mirrored touchscreen to facilitate app-free navigation; a 43’ fully mirrored touchscreen to facilitate app-free navigation; two front-facing 12 MP full body cameras designed for two-way live interaction, enabling members to work with a live trainer in a virtual setting similar to an in-person experience; internet wired connectivity and 802.11ac wireless networking, which is IEEE 802.11a/b/g/n/ac compatible; bluetooth headphone and heart rate monitor syncing ability; and sound system with microphone and rear-facing speakers.
The Forme Studio ships with the following accessories and equipment, including yoga mat; heart rate monitor; microfiber cleaning towel; camera covers; and mounting hardware.
Forme Studio Lift includes all the components of the Forme Studio, as well as the additional following equipment, including two Forme handles; one rope grip; two ankle straps; one short bar; and storage cabinet.
Strategic Relationships
A key component of its strategy is to establish and expand strategic partnerships within the fitness and wellness industry to help accelerate expansion of its business and build its brand recognition. To date, the company focused on building strategic relationships in the fitness space, primarily through content collaborations.
The company has developed and intend to continue to develop and expand, collaborations with companies across the hospitality, fashion, sports, and design industries. The company’s partners include international hotel chains, celebrity trainers, interior designers, celebrity stylists and boutique fitness clubs. These strategic relationships tend to be focused on generating awareness of its brand by accessing audiences and followings and educating them regarding its products and services.
Sales and Marketing and Member Support
The company markets its products through various paid channels including Facebook and Google, as well as through unpaid channels driven by referrals and public relations initiatives. The company uses a combination of brand and product-specific performance marketing to build brand awareness and generate sales of its products and services. Its marketing strategies has focused on product education and broadening its demographic reach. The company targets demographic segments include members making greater than $100,000 in annual household income.
The company promotes its products and brand through various means, including digital marketing and online advertising, press releases, contributed articles, speaking opportunities, trade events, customer events, public relations, and industry analyst relations. It primarily markets through advertisements on social media to reach its target audience, focusing on incremental return on investment. The company’s direct-to-consumer model allows it to conduct frequent tests in their sales channels, including testing its brand creative and messages, allowing it to further optimize marketing spend. The company also selectively tests alternative marketing channels, such as podcasts, connected TV, and direct mailing.
Direct to Consumer, Multi-Channel Sales Model
The company sells its products directly to customers through a multi-channel sales platform that includes e-commerce and inside sales. The company’s sales associates use customer relationship management tools to deliver a personalized and educational purchase experience.
E-Commerce and Inside Sales: The company’s desktop- and mobile-compatible website provides an elevated brand experience where visitors can learn about its products and services and access product reviews. Its inside sales team engages with customers by phone, email, and online chat on its websites, and offers one-on-one sales consultations seven days a week.
Commercial: The company’s commercial and corporate wellness markets are important to driving trial and brand awareness. Its commercial channel provides company with a valuable opportunity to introduce its product to wider audiences and allow for physical, on-product experiences outside of a store or showroom.
Member Support Services
The company’s member support team encompasses its member engagement staff, their field operations team, and its Fitness Concierge team focuses on retention and customer satisfaction. Its member engagement staff identifies, evaluates, and implements new ways to promote engagement with its members and to help members reengage with its platform when activity has lapsed, such as monitoring member activity and reaching out via email in the absence of recent activity generally within the preceding three months. The member engagement staff also collects and responds to member feedback about its products and services. The company’s field operations team provides support regarding sales, scheduling, delivery, installation, account and billing inquiries, troubleshooting and repair, product education, returns and exchanges, and other member requests. This team primarily works remotely and is distributed across the United States. Its Fitness Concierge team is comprised of personnel with training and expertise in hospitality and membership experience, and with its connected fitness hardware products. The Fitness Concierge team assists members from initial onboarding through the entirety of the membership experience, including answering general questions, assisting members with matching, and changing personal trainers depending on a member’s preferences, addressing other member questions and concerns regarding their fitness goals and experience, and curating weekly personalized fitness programs free of charge to suit each member’s fitness level, needs, preferences, and goals. The company’s Fitness Concierge team works with its trainers to help ensure that each member is maximizing the value of their experience. The company also utilizes additional third-party support services in areas, such as web chat messaging and customer relationship management tools.
Patents
As of December 31, 2023, the company owned more than 18 issued patents and/or pending applications in the United States; and more than 74 issued patents and more than 6 pending patent applications in foreign jurisdictions. The inventions covered by its patent and patent application portfolio primarily relate to various hardware and software inventions that may or may not be embodied in its current or future products. The issued United States patents are expected to expire between 2036 and 2040.
Trademarks
As of December 31, 2023, the company owned two registered trademarks in the United States; five registered trademarks in various states; and two trademark grants of protection covering the United Kingdom and European Union via an international registration.
Regulations
The company’s business activities are also subject to various restrictions under U.S. export control and similar laws and regulations, as well as various economic and trade sanctions administered by the U.S. Treasury Department’s Office of Foreign Assets Control, which prohibit or restrict the provision of products and services to embargoed jurisdictions and sanctioned persons.
The company is also subject to various domestic and international anti-corruption laws, such as the U.S. Foreign Corrupt Practices Act of 1977, as amended, and the U.K. Bribery Act, as well as other similar anti-bribery and anti- kickback laws and regulations.
Fitness equipment sold for home use is regulated in the United States by the Consumer Product Safety Commission. Safety-related information that company learns about its products from any source may trigger federal reporting obligations that could lead to product safety investigations, corrective actions, enforcement actions, and civil or criminal penalties.
History
Interactive Strength Inc. was founded in 2017. The company was incorporated in 2017.
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