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The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.
While most might associate getting paid to work out with being an athlete, one company says it is raising funds for a fitness motivation app that would offer cash payouts to its users just for staying active.
Combating a Health Crisis?
Paid Workout states that it wants to encourage people to maintain a healthy lifestyle by reinforcing body positivity, shifting the narrative to focus more on how people feel in their bodies rather than how they look and offering cash incentives to work out. But what’s so wrong with the old hit-the-gym routine?
More than 75% of U.S. adults are not engaging in the U.S. Department of Health and Human Services’ recommended amount of physical activity: 150 minutes of aerobics as well as strength training for all major muscle groups at least twice per week. It’s also reported that up to 25% of Americans achieve no physical activity.
Stress, finances, gym anxiety and time management are predicted to be the main contributing factors for people’s consistent lack of motivation. Some stressors are triggered by a hyperfocus on looking good as opposed to feeling good.
The added stress from the COVID-19 pandemic has led to an apparent 32% decrease in physical activity for Americans. It’s no secret that scientists believe this reduction may have long-lasting physical, mental and emotional effects on individuals and society as a whole.
Paid Workout’s team believes that one of the glaring problems the pandemic illuminated with modern-day fitness is people’s craving for more flexible workout routines that are tailor-made for their lifestyles.
“It’s obvious that the same gym routines are no longer motivating enough for people to stay physically active,” Paid Workout Director, Co-Founder and CEO Nicole Pekerman said.
Pekerman and her team recently released a crowdfunding campaign where interested investors can buy in for a minimum investment of $250.25 for 65 cents per share.
How it Works
The first step, download the app, available on Apple Inc.’s (NASDAQ: APPL) App Store and Alphabet Inc.’s (NASDAQ: GOOGL) Google store. Next, users fill out a profile, join a workout challenge, complete the challenge, and the top 3 performers from any given challenge earn cash.
“People often begin their fitness journey without understanding why it’s important to them. They set broad, long-term goals that are ultimately unrealistic, and when they don’t see results fast, they lose motivation over time,” Pekerman said. “However, when a tangible motivator like money is introduced, studies have shown that adults can increase their average step count and fitness output by as much as 108%. This extrinsic motivator along with intrinsic motivation like achieving short term, process oriented goals is a key differentiator. This is what we’re focused on at Paid Workout: motivating our users to get moving, not to change the way they look. This is about gamifying wellness to drive healthy habits”.
So what can users expect from joining? The app has designed accountability challenges accessible to all ages, body types and experience levels. The app is compatible with fitness companies such as Barry’s, Orangetheory and Peloton Interactive Inc. (NASDAQ: PTON). Users can enjoy any of their favorite programs while joining Paid Workout Challenges and winning cash while feeling motivated every day because, as Pekerman always says, “health is wealth”.
Paid Workout uses a freemium pricing model, meaning the app is free to download, but there are additional tiers, features or incentives that users can pay for. To get the full benefit, users can subscribe to pay a weekly fee (auto renewing) to continue participating in weekly home group challenges.
You can visit https://paidworkout.com/ for more info, stay up to date, or to invest.
The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and is not intended to be investing advice.
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