About the brand:
Virtua-Race is a small partnership based in the North-East of England. We aim to provide a platform for runners (we'll branch out into other sports once established) to compete in races and other challenges and order exclusive medals, as a reward.
A virtual race is a race that can be ran at any location. You can walk, use the treadmill, run outside or submit results from another organised race. You can run your race at your own pace, wherever you like.
Users will pay an entrance fee to a race and once they have completed and proven it, a high quality medal will be dispatched.
For each race/challenge, we select a charity and a minumum of 10% of the total profit from entry fees will be donated to the chosen charity.
About the people:
The partnership consists of a keen online entreprenuer and a running/fitness enthusiast. We are taking an honest approach to this venture and have realistic expectations of how the project will develop over the first two years. We're both hardworking and have a clear vision on what we want, and how to achieve it.
Here's a litte more detail on the step by step process of how it works:
1. Members sign up at our site (currently under development as of Nov 2015)
2. They pick a race they'd like to compete in - 5k, 10k, half marathon, etc and pay the entrance fee (races can be done over multiple attempts, e.g. 2 x5k to make 10k).
3. Then, they'll do the race and submit their proof.
4. The proof will be verified manually by us and once confirmed, we send the member their medal.
6. We post the members medal out and update our leaderboard tables. (If the runner has requested their times to be public)
Why are we crowdfunding?
We are looking to crowdfund this project in order to share our ideas, gain feedback, spread our name around and generate our startup capital.
We have a short term goal of establishing ourselves in the virtual running market and this is why we are seeking funds on crowd funder.
There are already a handful of UK companies offering the same as us but we aim to be the "go-to", number 1 brand in UK virtual racing, selling the best quality medals, with the best designs.
What will the money contribute to?
We are in early stages of development but have calculated our initial set up costs at £750. This will allow us to purchase the domains, buy hosting, buy initial stock and promote our site.
In the not so distant future, we plan to develop the brand with a fully featured app that will allow members to upload their runs automatically from whichever app they use to log times and distances into a central system and order their rewards at the tap of a button via an automated payment system.
Unlike our competitors, we are not limiting ourselves to running, and will offer up cycling, walking and other types of race, once we're established.
To enhance the brand by maintaining exclusivity, medals and other merch will not be sold separately to non-entrants unlike our competitors sites, where anyone could visit the site and just simply buy a medal.
We think we've covered the main points above, but here are a few other faqs and our answers:
1. How much competition is there in this market?
Our strongest competitor has a community of no more than 1500 (as of Nov 2015) and is limited to running.
We aim to build over the first two years into a multi-sport virtual racing brand, with the slickest website/app and integrated features, offering the best rewards and becoming the number 1 brand in the market.
2. How do you intend on marketing your brand?
We have a facebook group - www.facebook.com/virua-race and will be advertising through this and other social media platforms. Some of the funding we require has been allocated to a a marketing budget.
We intend to approach uk based running clubs and offer discounts on group membership.
We will be relying on the quality and exclusivity of our products, the ease of use of our site/app and customer interaction to build a strong member base.
3. Where is the money going exactly?
OK, you've stayed with us this far down the page so this may mean you're interested in contributing to the cause. In this case, of course you're entitled to a costing breakdown.
Drop us a line and we'll show you.
4. Why would people enter a virtual race anyway? Why wouldn't they just enter an organised event?
Some people prefer to run by themselves, at their own pace. What we say is, why not do both? Enter your local 5k park run twice and there's your Virtua-Race 10k medal right there! What better way to prove it than two photos of you crossing the finishing line with your times!
5. When do you anticipate going live?
Jan 2016 is when we hope to start trading. We're raring to go!
We hope we've covered most of it above but please send us a message if you have any queries and we'll endeavour to replay ASAP.
Want to help with the development? Or have an idea that you think might help us? Again, drop us a line!
Thanks for reading, please read our rewards section for details on how to contribute to this startup.