Introduction
Hey, corporate professionals! The pandemic has changed the way we exercise, but one thing's for sure: group sports are making a comeback. Let's explore how this trend is reshaping the sports industry and what it means for the future of group activities. 🏃♂️🏊♀️
The Birth of a New Platform: Let's Do This 🌐
Two childhood friends, Alex Rose and Sam Browne, founded "Let's Do This," an online sports events booking platform. They saw a gap in the market for a centralized place to find and sign up for races and endurance events. 🌐📲
The Investment Game: Star Power 💫
The platform has attracted investments from sports legends like Serena Williams and Usain Bolt. It's not just about the money; it's about the credibility and reach these names bring to the platform. 💫🌟
The Pandemic Effect: A Double-Edged Sword 🦠
COVID-19 initially dealt a blow to the platform, forcing event cancellations and causing revenues to plummet. However, the pandemic also led to a shift in how people exercise, driving demand for outdoor activities and virtual events. 🦠🔄
The Financial Struggles: Navigating the Storm 🌪️
During the pandemic, the founders cut their own pay by 70% and asked employees to take a 20% salary reduction. Despite these challenges, they managed to pivot into virtual event sign-ups, keeping the business afloat. 🌪️💪
The Numbers: A Rebound in Sight 📈
As social distancing measures lifted, "Let's Do This" saw a rebound in business. Ticket sales doubled week-on-week for around six months, and the platform now lists 15,000 events. 📈🎉
The Global Expansion: Beyond the U.K. 🌍
The founders have plans to go international, starting with the U.S. in January. They believe the model they've established can be applied globally, opening doors for further growth. 🌍✈️
The Future: More Than Just Running and Cycling 🏃♀️🚴♂️
The mission of "Let's Do This" goes beyond traditional sports. They aim to be the online company that gets everyone offline, encouraging a more active and communal lifestyle. 🏃♀️🌳
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