Two execs who helped expand $1 billion ClassPass into 26 markets give their playbook for scaling a growth company
Fitness startup ClassPass has raised a total of $549 million since it was founded in 2013 to launch its subscription fitness service across the world, and was valued at $1 billion in January.
Subscribers pay less for classes than they would if they bought them directly, while studios can raise their profile and fill some of the empty slots. After a number of years ironing out its business model in the US, the company has successfully launched into dozens of new markets over the past two years.
"It would only take us a couple of weeks to scout out what we thought to be the top studios and gyms in a city," she adds. "Signing them up actually wasn't so difficult. We'd have teams of six or seven on the ground and would get 100 or 200 studios ready for launch."If people already have experience with your competitors, leverage this to explain how your product is different.
By explaining how ClassPass addressed the pain point that fitness studios had experienced with other providers, adds Moncton, they were able to get them on board. Once you have the right suppliers, use that as a hook to get customers interested. "We have a really slick app, it's super intuitive to use," she says. "So our thought was if we can just get people in the door trying it, it's great and then we grow a lot from referrals from that first cohort of users.
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