Fractional CFO for fitness & wellness companies
Fitness and wellness reports through a consumer lens, so churn, seasonality and content amortisation drive the model more than payer dynamics. Peloton's correction pushed the next generation away from hardware-heavy economics toward app subscriptions, hybrid studio formats and employer-distributed benefits - often inside one P&L with very different margin shapes per line.
The work is dominated by cohort accounting - January spikes, summer attrition, post-purchase hardware churn - and by the music, instructor and content licensing that sits in COGS and amortises unevenly. Hardware-and-service bundles split between point-of-sale and deferred service revenue under ASC 606, and B2B introduces contracted MRR tracked against utilisation rather than headcount sold.
Flow provides financial modelling, FP&A and fractional CFO advisory to fitness and wellness companies across connected fitness brands, content and training apps, studio and on-demand platforms, nutrition and habit-tracking businesses and employer wellness providers. Our startup CFO team builds the cohort FP&A and retention models a consumer health board underwrites.
KPIs to track for "fitness & wellness" startups
We're very 'KPI-driven' fractional CFOs, and we make sure to monitor the right metrics for your startup.
Active subscribers
ARPU
Monthly churn
12-month retention
Hardware units sold
Hardware gross margin
Content engagement / week
Employer contracts
Contribution margin
CAC payback
Financial modelling for "fitness & wellness" startups
As fractional CFOs, we build KPI-driven financial models that are insightful and easy to maintain.
Financial modelling is both art and science - models must be robust, but also understandable, and useful for both internal planning and VC fundraising purposes. Hire a fractional CFO who knows how to handle both sides of the equation.
Cohort retention with seasonality
Monthly cohorts tracked against survival curves with January peaks, summer attrition and post-purchase hardware churn modelled explicitly. The aggregate churn number hides that half the year buys customers the other half loses.
Hardware-and-service bundle split
Bundle revenue allocated between point-of-sale hardware and deferred service revenue under ASC 606, with the standalone selling price method documented. Drives both reported revenue mix and the deferred revenue working capital line.
Content and licensing COGS
Music, instructor and produced content costs capitalised and amortised against engagement, with licensing minimums and overages accrued in the period earned. Often the largest line in gross margin and the one most often misallocated to opex.
Subscription ARPU and tier mix
Active subscribers cohorted by tier, family plan and bundled hardware, with ARPU walked from list price to net after discounts and trial leakage. Tells the board whether pricing power exists or whether growth is just discounting.
Employer and benefits MRR
Contracted employer revenue tracked against utilisation rather than seats sold, with per-engaged-employee margin separated from contracted MRR. Many B2B fitness contracts are profitable on paper and loss-making at the utilisation rates that actually land.
CAC payback by channel
Acquisition cost by paid social, brand, influencer and retail channels, against contribution margin over the realistic 12-to-24-month retention window. Forces the cohort view rather than a payback computed off month-one revenue.
Founders and investors we've worked with
We've supported winning builders across fitness & wellness and beyond.
Cannadorf
As a fractional CFO we helped Cannadorf, an Israel-based pharma-grade medical cannabis leader applying tissue culture technologies, build out its financial plan ahead of scaling production.
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Cannabis Innovation Center
We acted as fractional CFO to Cannabis Innovation Center, a Tel Aviv-based medical cannabis group developing multiple cannabis-based therapies, providing internal valuation guidance.
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BiomX
As a fractional CFO we performed a confidential valuation of BiomX, a Tel Aviv-based clinical-stage microbiome therapeutics company, supporting Elevator Fund's portfolio management.
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TBô
We acted as fractional CFO to TBô, a Zurich-based tech-enabled DTC male underwear brand, building a bottom-up financial / operating model with cohort-level KPIs and positioning the company for its next venture round.
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Onlogist
We acted as fractional CFO to Onlogist, a Hamburg-based online marketplace for last-mile vehicle transfer, providing confidential valuation guidance and operating model support.
See moreRecent fractional CFO track record
See our fractional CFO and financial modelling experience across fitness & wellness and beyond.
Simple pricing
No hidden costs, no complicated long-term contracts. We understand how important flexibility is for fitness & wellness startups.
Per month
- Accounting / FP&A tech stack implementation
- Monthly financial statements and reporting pack
- Quarterly board pack with detailed financial analysis (with variance analysis vs. budget, relevant KPI observations etc.)
- Investor-friendly output
Per month
- Everything in Core, plus
- Operating model (via an online platform like Runway or Excel-based)
- Ongoing model maintenance, refining projections, burn/runway management
- Customer cohorts modelling, churn and retention analysis
- LTV / CAC, unit economics analysis
- Cap table management
Per month
- Everything in Grow, plus
- M&A / fundraising support; review of business plan
- Pitch deck preparation
- Investor approach strategy / list building
- Due diligence support and deal negotiation
- Valuation as required and free access to Multiples Pro
Packages shown are illustrative, final pricing is tailored to client requirements.
Explore our fractional CFO offering for similar verticals
We're a specialized fractional CFO to digital health companies.
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We provide fractional CFO services to companies operating across the entire tech.
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We help you scale by providing fractional CFO advice, through fundraising and a successful M&A exit.
VC fundraising for fitness & wellness companies
We help you prepare materials, reach out to investors in our extensive network, negotiate fair term sheets and structure the VC round.
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