iPhone Apps As A Business Model

I attended an event the other night at Soho House in Manhattan, and it wasn’t just for the Cinco de Mayo margaritas (although please note, this could become a dangerous trend). This was a launch party for a new iPhone application called FitnessBuilder.

Now, I’m all about fitness, being a fan of long-distance running and Pilates, but…I personally don’t have an iPhone or an iPod. Therefore, I’ve got no way to download this appealing application, which contains more than 400 ready-made workouts and tons of useful exercise images and videos. My question: How scalable is this product? How do you sell to the masses, when the masses don’t all have the same smart phone?

That doesn’t seem to be a concern to Craig Schlossberg and Declan Condron, co-founders of PumpOne, who met at a gym a while back and have spent the last four years developing FitnessBuilder. (And while the focus is iPhone, they do sell a version for BlackBerry and Treo). They’re enthused by how well FitnessBuilder, which sells for $19.99, is doing. It’s currently ranked #15 on this list of Top 50 Paid Health & Fitness Apps.

But this does raise the question - when you’re developing a consumer product that can only be used by consumers of another product (in this case, the iPhone, BlackBerry and Treo), are you limited in your potential earnings? Or is this the ultimate niche market? Let us know what you think.

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