PayasUgym.com

Anyone who's ever had a gym membership knows that guilty feeling: you haven't been to the gym nearly enough to warrant the vast subscription payment. Neil Harmsworth, Jamie Ward and Michael Blake, founders of PayasUgym know this feeling too - only they decided to do something about it. Last year, they formed a pay-as-you-go system for gym users. Customers top up an e-wallet, are sent an ePass voucher code which they provide to gym reception, and they're off. No joining fees. No contract. No fuss. Prices are always lower than the gym's own day pass rate and the e-wallet can be used in a network of gyms all around the country. Launched in London, the capital is the scheme's biggest base so far, with 135 gyms signed up. The business has already raised £350,000 to fund the next growth spurt and market the concept. By 2012, Harmsworth et al forecast £150,000 of gym passes will be sold.

• Smart business model drums up custom for gyms while giving consumers value for money
• Large and expanding network of gyms
• Cash injection to market the business to a wider market