Thread by @austinschless

0/ If you own fitness equipment and you want to:

1. Make an extra $500-$750/month
2. Have a private place to workout

Here's an idea for you...

1/ PROBLEM/USE CASE 1: People own gym equipment. They don't have the space to use it.

Reps is a place for you to the house (and make money) off of your fitness equipment while you don't have space.

2/ PROBLEM/USE CASE 2: You lived in suburbia. You are moving to an urban area. You want to keep your gym equipment.

Reps is a place for you to use your gym equipment while you don't have space for it.

3/ SOLUTION: Reps is a place for you to house your fitness equipment and charge people to use it while you aren't using it.

Think of a storage locker - 12x12 room - where you can store your stuff and rent out space to other people (personal trainers or fitness enthusiasts)

4/ Airbnb for fitness equipment. Sell space when you aren't using it. But in this case, sell your fitness equipment and space when you are not using it.

Why not for fitness equipment?

5/ Reps isn't only a place to house gym equipment, it is also a place for people to rent out personal fitness rooms.

For example, let's say I own $1000 worth of Rogue inventory. I pay Reps $50/month for space and amenities - showers, water fountains, etc. - but I want more👇

6/ Equipment owners own the space. They have the option to rent out their space.

This is similar to the model meal prep companies use - they rent out commercial kitchens when they aren't in use.

For Reps, equipment owners rent space and equipment when it is not in use.

7/ Let's say there are 10 units. Each unit is filled with a different person's equipment.

Equip. must meet a certain standard - it can't be cheap ass dumbbells. Each of the units is "owned" by an equipment owner. They have the ability to rent their space to clients.

8/ This model is especially appealing to people who own a large inventory of fitness equipment but don't have the space to store it or use it.

Reps gives them space to workout and the option to make some cash off of their stuff while they aren't using it.

9/ This model is also appealing to people who want to build their own home gym eventually, but don't have the space to do it at the moment.

For these people, they can begin investing in their future home gym, store it in reps, use it at reps, and pay down their investment.

10/ Equipment owners are happy because:

1. they have a place to store their equipment
2. they have a place to workout
3. they have a place to get paid for their equipment
4. they have the opportunity to make money off of their unit

11/ Clients are happy because:

1. they have a private area to workout
2. they get to workout with newer equipment
3. they can avoid crowds

12/ Reps expenses:

1. Mortgage
2. Cleaning
3. Maintenance
4. Water
5. Heat
6. Air conditioning
7. Electric
8. Taxes
9. Insurance

Reps revenue:
1. Equipment owner subscription
2. % of clients

13/ Your expenses:
1. Equipment owner subscription

Your revenue:
1. Client subscription

14/ So how would this get started?

I currently own a garage with my equipment in it.

I could post a listing on Craigslist or FB marketplace to see if anyone would be interested.

Start with one unit and then grow from there.

15/ Some other things to consider:

- Equipment owners have a license agreement to access their unit.
- Equipment owners administer license agreements with their clients

16/ Some more things to consider:

- Clients can be people who want to work out, people who want to take pictures for Instagram, personal trainers
- There should be an empty room for yoga and stuff

17/ Even more stuff to think about:

- Reps should own some cardio equipment that can easily be moved between units, but most of the equipment should stay put
- There should be an option for someone to order their own room with the equipment they want

18/ More stuff:

- Sell to equipment owners or potential equipment owners as a way to pay for their equipment and make some extra money on the side
- Unit amenities: music, TV, bathroom, shower, towels

19/ Still thinking:

- Each unit can have its own rules, but one rule that I think should be standard is that you must wipe down all your equipment before leaving the area
- x-month agreements for equipment owners - can break agreement but would have to pay a fee

20/ A few more things:

- Need a cooler name for equipment owners
- Need a cooler name for the place - Reps

21/ For info on how to build a $2500 garage gym with minimal investment, check this out

https://twitter.com/austinschless/status/1350095461982613506