Loved your post, Caitlin. Very interesting in how the Company has successfully created value for both participating parties – individual customers and participating studios – and how they have captured some of that value in a subscription-based model. Wondering if there is an additional way to capture value in having ClassPass members actually join one of the participating studios – one of the big risks to the sustainability of the ClassPass models as users trade in their ClassPass and instead sign up for their favorite studio classes directly? Also wondering average customer churn; are customers really using this as on a trial basis and trading in for specific studio memberships or are they enjoying the access to a range of classes that ClassPass offers?
Your thoughts – any specific opportunities you see to improve the model as you researched?
Thanks for the introduction!
Love it, Z! Awesome post, thanks for a great read.
Really interesting idea on how to address a huge social issue. The idea of using technology to mass produce optimized teaching plans – coupled with paying human capital in (cheap) local wages – seems to provide a viable solution to an otherwise daunting task. Standardizing education plans and delivering them real-time to teachers is a genius use of technology to address a very basic but previously unstandardized/unaddressed(?) issue. Want to know how successful the model has been to date!
From your research – curious if there was anything that stuck out as inefficient from your perspective? Anything in particular that you would change?
Thanks for introducing.
Loved your post. I love how Bonobos has targeted a very specific audience and focused their business model on how to address men’s pain points in the inherently painful shopping process! Very interesting model of combining physical stores with the online platform – being really selective in adding physical stores but using them to capture customers and driving repeat business via the online accounts/ordering. Also an interesting way to optimize working capital (only having “model apparel” at the stores for fit purposes and keeping all retail inventory separately and delivering upon order), fixed overhead costs of retail stores, etc.
So, your thoughts – an interesting business proposal that seems interesting to address a targeted market. What do you think about long-term viability? How does this Company scale to become profitable… and what changes would you recommend to achieve?