A week ago, OYO Fitness launched their crowdfunding campaign in Asia with the support of the Taiwanese crowdfunding platform Backer-Founder. This is a strategic move for international expansion for the firm, which plans, later on, to launch another crowdfunding campaign on a Japanese website.
Paul Francis, the CEO of OYO Fitness, knows that crowdfunding is challenging and requires a lot of effort, but he also knows that it has many advantages when it comes to entering new markets as it drives sales and popularizes the product effectively.
In fact, the Kansas-based OYO (On Your Own) Fitness is no newbie in crowdfunding. After running two extremely successful crowdfunding campaigns in the USA, which raised nearly $1.5 million USD, Paul Francis has the confidence and the experience to help the company succeed in this ambitious venture.
After a successful crowdfunding campaign on Kickstarter, the portable gym OYO Fitness’ DoubleFlex Black raised nearly $700,000, making the product the second highest funded fitness product in the history of Kickstarter.
The Kickstarter success led to another ambitious crowdfunding campaign for OYO Fitness. This time it was run on Indiegogo. By February 17, 2017, OYO DoubleFlex campaign has raised $877,263 USD on Indiegogo.
The successful campaigns prove that the product has great demand, that it is well-accepted by the customers and has the potential to become an international brand. The founder has bootstrapped the business since its creation back in 2014. After the successful crowdfunding campaigns, the business might be ready and for a round of VC capital.
OYO Fitness is a success story, which proves that crowdfunding can give a strong start for a company. After that only the sky is the limit!