Question

8. a) You run a startup that is looking to provide fitness and strength training based on the individual physique of the customers. The service is highly customised and the trainers will be working on a 1:1 basis with the customers. You have a team, a venue, the branding, and already about a dozen customers. However, you are still in need of £600,000 of seed funding to pay for the venue. Describe your fundraising strategy.

b) You have successfully raised the funds through angel investors. Now you are looking to scale your customer base with an anti-cyclical marketing budget. Describe your strategy.

Answer 1

a) You run a startup that is looking to provide fitness and strength training based on the individual physique of the customers. The service is highly customized and the trainers will be working on a 1:1 basis with the customers. You have a team, a venue, a branding, and already about a dozen customers. However, you are still in need of £600,000 of seed funding to pay for the venue. Describe your fundraising strategy. (8 marks)

b) You have successfully raised the funds through angel investors. Now you are looking to scale your customer base with an anti-cyclical marketing budget. Describe your strategy. (7 marks)

ANSWER:

a) Fundraising strategies as per my ideology:

• Fundraising procedure for the startup of the matter of wellbeing and wellness begins with raising of assets. Business Banks is the best model that can give the advance to the new company, and the individual can reimburse the sum with some level of enthusiasm for portions to the bank. It is the most secure and secure approach to put cash into the new company.
• The business will set aside an effort to set up at first, yet when the clients show their essence in the setting, there will be a programmed pivot of the cash. Inside some time, the individual can rapidly begin restoring the sum to the bank.
• The individual can likewise raise a reserve with web-based life's assistance as the individual can advance the historical backdrop of wellbeing and physical wellness via web-based networking media. It will assist the individual with increasing their customers, and his business will see the development, just as there will be the achievement of its business destinations.
• Social media is a useful asset that can enable any business to expand its objectives successfully and effectively.

b) My strategy to scale \our customer base with an anti-cyclical marketing budget:

• If the angel investors are giving assets to the new company, at that point the representative's center work is to draw in their customers with the services and offices.
• Customers are the key needs of any business, helping the organization develop and accomplish its targets. On the off chance that the quantity of customers increases, it will be simple for the businessman to restore the cash to the speculators.
• The system is to build the customer's name with the goal that the business will get the notoriety and acknowledgment before someone else, and the organization should exploit its competitors in the commercial center. The upper hand will assist the individual with going one stride in front of their competitors.