Nexercise Sworkit Review
Mark Cuban just invested $1.5 million on Shark Tank into a company named Nexercise, which produces the popular fitness app Sworkit. Here’s our Nexercise review.
What is Nexercise?
Nexercise is a app developer that makes the popular fitness app Sworkit.
The developer has been making headlines over the past week after Mark Cuban decided to invest $1.5 million in the company on the February 19 episode of Shark Tank. Cuban received a 10% share of the company.
It’s not the biggest investment in Shark Tank history, but it’s pretty close. A press release emailed by a Sworkit representative claims it’s the largest tech deal in the show’s history.
The name of the app, by the way, comes from mashing together the words “Simply Work It”.
The app is available for free on iOS and Android. So far, it’s been downloaded by over 14 million users across both platforms.
With over 100,000 health-related apps in the Android and iOS app stores, what exactly sets Nexercise and Sworkit apart from the competition? Let’s find out.
How Does Sworkit Work?
Sworkit delivers you a personalized video workout every day. You can choose a workout ranging from 5 to 60 minutes. Follow the video trainer on your screen to know exactly what to do.
One of the biggest endorsements of Sworkit comes from the University of Florida. A team of researchers from the school’s Department of Health Outcomes and Policy and the Department of Orthopedics and Rehabilitation analyzed over 30 health and fitness apps. These researchers found that Sworkit was the app most closely aligned with the American College of Sports Medicine’s training guidelines.
One of the central guidelines from the American College of Sports Medicine is that your workout should include aerobic, strength and resistance, and flexibility components.
The researchers also praised Sworkit for following evidence-based guidelines in terms of the frequency, intensity, type, and variety of workouts.
Also important was the way in which Sworkit included safety measures to help protect its users.
Sworkit comes with a free and paid version. The free version includes most of the core features of the app and is advertisement-based, although the Premium version does come with a suite of features that will appeal to many users.
Sworkit’s free version comes with all of the following features:
— Choose From Strength, Cardio, Yoga, Or Stretching Exercises
— Select Any Time From 5 To 60 Minutes
— Follow The Video Trainer On Your Smartphone Or Tablet To Know Exactly What To Do
— Create Your Own Custom Workouts Or Modify Existing Workouts By Swapping In/out Exercises In The Library
— Follow Along With Focused Routines That Target Your Abs, Back, Butt, Chest, Hips, Leg Stomach, Thighs, And Other Parts Of Your Body
— Customize Your Workout For Injury Recovery, Removing A Workout That You Can’t Do Or Have Trouble Doing Due To Some Physical Limitation
— Download Free Custom “Sworkouts” like Low Impact exercises (with no jumping), Pregnancy workouts (including Full Body, Beginner, Intermediate, and Advanced workouts), Runner’s Warm-up, Office Chair Stretch, Plyometrics, Golfer Sworkout, Around the Office, Surfer Sworkout, and more.
One of the key advertised advantages of Sworkit is that you’re not performing the same “12 boring exercises” of other popular fitness apps like 7 Minute Workout.
Sworkout also claims to be the best option for when you’re traveling, or you just had a long day at work, or you just slept in and don’t feel like you have time to make it to the gym.
There’s no equipment required for these workouts. All workouts are also accompanied with verbal instruction and cues – so you don’t have to watch your smartphone screen the entire time you’re working out.
Sworkit Premium Features
— Ad-Free Workouts
— Low Impact Exercises for Beginners and Older Adults
— Set Custom Exercise Intervals
— Exclusive Pre-Built Workouts
— “Ask a Trainer” Feature
Sworkit Premium is priced at $2.99.
Ultimately, all of these features combined promise to put “your own personal trainer” in your pocket.
Other Sworkit Versions
Sworkit has also released a version of the app for kids. Sworkit Kids is available for free on the Google Play Store and iTunes App Store and features kid-friendly workouts that promote strength, agility, flexibility, and balance.
In the future, Sworkit is planning to release the Sworkit Web Player (possibly using some of the money Mark Cuban just invested into the company).
Nexercise is a company created by three guys named Ben, Greg, and Ryan. Here’s how the company’s About Us page describes the story of the company:
“Ben met Greg, a former U.S. Air Force officer and fitness expert. Together they formed Nexercise based on the principle that nobody wants to be out of shape and even the smallest physical activity should be celebrated, as it forms the seed of habit. A year later, Ben met Ryan, a talented programmer and former U.S. army officer who had built the basic foundations of an exercise app called Sworkit. Ben loved the idea, and asked Ryan to join Nexercise to take the product to its full potential.”
The company is led by CEO Ben Young and Greg Coleman, listed as president and chief operating officer for the Sworkit app.
You can learn more about the team here: Sworkit.com
Nexercise and the Shark Tank Episode
When Nexercise initially entered the Shark Tank, the company was seeking a deal of $1.5 million for an 8% stake in the company. Cuban claimed the valuation seemed a little high, which eventually led to the $1.5 million investment for 10% of the business ($15 million valuation).
Some of the key financials from Nexercise revealed during the show included that the company has made just under $2 million throughout its entire life, with $770,000 coming from the year prior to filming (the episode taped in fall of 2015). Sworkit represents $460,000 of the company’s earnings, with two-thirds of that money coming from premium upgrades (the $3.99 pro version) and the remaining one-third coming from advertising revenue.
During the 12 months prior to filming, the revenue from the app grew from $44,500 per month to about $94,000 per month. The new subscription service costs customers $9.99 per month.
Revenue is undoubtedly expected to skyrocket after the major publicity earned by the company throughout the Shark Tank episode.
The episode eventually closed with a handshake from Mark Cuban, the billionaire owner of the NBA’s Dallas Mavericks.
In an interview, the leaders of Nexercise discussed how they were excited to work with Mark Cuban because of his connections in the sports world as well as the sports arena space:
“Mark, from our standpoint, was probably hands-down the best strategic investor. Our platform is very modular and flexible. I really see it as an instructional tool for any kind of physical fitness. I think Mark really gets that, and since he’s connected in the sports arena, could even get us potentially in front of the right people to trial those capabilities and understand what those customers want.”
Stay tuned for future updates on where Nexercise and Sworkit are going in the future.