Vibefam: Raising the bar(bell) in the Singapore fitness industry
Publication Type
Case
Publication Date
3-2024
Abstract
This case, set in January 2024, discusses the entrepreneurship journey of Serene Lim, the co-founder and CEO of Vibefam, a tech management system for boutique fitness studios. In the Singapore gym and fitness sector, besides the large chain studios, there were many smaller studios that offered niche activities to consumers. These studios often did not have automated booking services, relying instead on pen-and-paper records. Lim felt that she could develop an app to streamline the booking process for these studios and their clients.
In 2021, Lim assembled a team comprising members with a common passion for entrepreneurship and possessing the relevant business and technological expertise. After several online interviews with potential customers, the team pivoted away from building a system based on social features. The team then built a prototype booking app to gain actionable feedback from both studio operators and users. Most of the early adopters loved the product and quickly converted to paying customers. While Lim was proud of Vibefam’s achievements thus far, she was constantly thinking about how best the startup could expand.
This case may be used for graduate, postgraduate and executive education classes on early-stage entrepreneurship. Learning objectives for the students are to frame your business idea as a customer problem; be willing to pivot based on customer feedback; allow customers to interact with your product as soon as possible; and understand the importance of building a good management team.
Keyword(s)
Technological innovation, leadership teams, market segmentation, Customer feedback, product development, Teambuilding
Discipline
Leadership Studies | Strategic Management Policy | Technology and Innovation
Research Areas
Strategy and Organisation
Data Source
Field Research
Industry
Recreation and fitness industry
Geographic Coverage
Singapore
Temporal Coverage
2024
Education Level
Executive Education; Postgraduate; Undergraduate
Publication
Singapore Management University
Publisher
Singapore Management University
Case ID
SMU-23-0034
Additional URL
https://cmp.smu.edu.sg/case/6056
Comments
For purchase of the case and supplementary materials via The CMP Shop, please access the following link:
The links to purchase the case and supplementary materials on The Case Centre and Harvard Business Publishing is available via The CMP Shop.
SMU Faculty/Staff can download the case and supplementary materials on iNet with your SMU login ID and Password via The CMP Shop