Virtual races are a growing portion of the fitness industry, and this online business specializing in hosting virtual races has gross sales topping $1.8 million for 2020. Participants pay a fee to track their progress through a ‘virtual race’ that they fully customize with their own goals, method of racing, and their times. The fee also covers a finisher medal and a donation to a related charitable organization. Established in 2014, this turnkey business can be run from anywhere, with participants around the United States and around the world. Virtual races expand the ways people can track their fitness goals - distance and time for a traditional race, or through steps, treadmill workouts, cycling, swimming, or a combination of several methods, putting this company on the leading edge of tracking and rewarding people for commitment to their fitness goals.
Virtual races allow people to have a sense of community when they are exercising, even during these times of social distancing. The company offers customers the option of signing up for an individual race, or joining an annual subscription program which gives participants a discount for all of their virtual races. Sales and marketing efforts have focused on Facebook advertising, so there is significant growth opportunity through expanding the sales and marketing strategy, increasing consumer products and merchandise, and through the continued introduction of captivating race themes. Expansion into wearable fitness products, international markets, and developing an app also offer new opportunities for this niche business with widespread appeal to people trying to increase their fitness levels. An ideal buyer will have knowledge of online marketing and sales, with an interest in running and fitness. The business-partner owners are ready to move on to new challenges and are ready to pass this growing business to a new owner to take it to the next level.
This is an established business. This is neither a new franchise nor a start-up opportunity.
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