A Time-Saving Solution To Lose Weight Without Compromising Health
Kuonal Lakhapati, Co-Founder and CEO, 23BMI, a healthcare startup discusses about the health-tech industry and how his startup is supporting people to pave through their hectic lives
How is your startup contributing to the sector and the country's growth curve?
KL - Obesity can impact the overall efficiency and productivity of any individual which can lead to a much larger impact in the larger picture. Schools, colleges and events the corporates have started emphasizing on being fit. Modi’s 'Fit India Movement' is the biggest validation that even the Indian government wants to take the health of Indian citizens on top priority for overall progress.
23BMI is enabling people with good health by helping them lose weight in a very quick and convenient way without hitting the gym. 23BMI has designed health programs that consider the urban lifestyle of individuals with no time to exercise, eat food, on-the-go lifestyle and help them healthily lose weight with the fastest results as per industry standards.
What kind of innovation is being done by your startup?
KL - At 23BMI, we’ve formulated and innovated meal replacement products in the form of smoothies, soups, and nutribars that form the base of the 23BMI health programmes. These products can technically replace regular meals, can be consumed on-the-go and requires less than a minute of preparation time and provide the right amount of protein, carbs, fat, fibre, multivitamins, etc. On their regular consumption, an individual experiences a much faster weight loss and achieve better health. We’re also working on interactive mobile application (Android & iOS) to improve customer engagement showcasing the number of calories consumed & burned in real-time and providing them with tips to keep their weight and health in check.
What kind of challenges do you face and what has been its result on the ground?
KL - The challenge was to create a solution for people who do not have time to hit the gym, prepare meal plans provided by nutritionists and also for those set of people who travel / commute frequently to enable them to lose weight without compromising their health. From developing the product, attaining the quality certificates for the product, putting together the go-to-market plan to acquiring the first customer were some of the challenges faced initially.
Is the 23BMI meal replacement product safe to consume, will they have any side effects, will it be tough to maintain the weight loss, building team has been some of the current challenges. However, the certifications, approvals from the authorities, right guidance and education help us overcome product and program-related queries. Identifying the right people for the job will always be a challenge.
What is your business model and revenue visibility?
KL- We, at 23BMI, have created a unique framework comprising of a detailed diet plan and 23BMI Meal Replacement products maintaining the total amount of micros & macros to be consumed in a day. We have three health programmes called 23BMI Pro Plan, 23BMI Fusion Plan, and 23BMI Eco plan. The first two plans are a combination of 23BMI meal replacement products and customised diet plan.
Subscription cost for all three plans is the same however they differ based on gender. Since male consumes more meal replacement products because of the body’s requirements as compared to women, the subscription cost for men is higher than women.
Revenue wise, we’ve been EBITDA positive since the inception with more than 200 clients in just about a year since inception.
How do you foresee your startup's future as per the current scenario of the market?
KL - People are in cognizance of risk associated with obesity and the importance of fitness and awareness is increasing as we speak. Given the sedentary, hectic lifestyles people are going to need solutions that help them stay healthy which allows them to continue with their fast-paced life. Today’s youth in India is taking a keen interest in maintaining good health and look fit. There is a willingness to spend on one’s health and wellness as long as results are delivered is very high. All these factors hold a very promising future and growth opportunities for 23BMI.
Did you receive any support from the government directly or government policies?
KL - Certain government policies have contributed to the ease to do business. GST relief for companies with turnover lesser than Rs 40 lakh is one such policy that certainly helped us in our initial phase.
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