The Fitness industry has been rather stale for the4 last couple of decades with little to no innovation. Brick and mortar locations with some basic gym equipment and a monthly subscription programme was no longer cutting it. Due to this, smaller mom and pop gyms have begun springing up, offering a more premium experience that many people have come to love. However, being tied to a Brick and Mortar location is something that Alex Hormozi realized is limiting the industry. After he scaled his own gyms, he decided to sell that business and focus on selling the formula that allowed him to scale his gyms so much faster and larger than others.
Come 2016 his software related business Gym Launch made its first steps into the public’s view. Gym Launch focused on helping scale smaller private gyms from their local area to the mainstream. While this business didn’t explode as fast as his own gyms that he sold to help Gym Launch grow, by 2023 his company is now serving over 4,500 gyms across the world, helping both his clients and his business generate millions in revenue. This however is not all he did, as in 2019 he decided to step into supplements as well, and began the company called Prestige Labs.
Prestige Labs was a beneficial move for not only him but also the gyms that Gym Launch was helping. The supplements generated revenue for not only Alex but for the gyms also. Since the brand was tied to Alex, if a gym were to have an offering of his products, they would often see increased volume due to the brand recognition. With that being said, it would seem that aAlex’s passion for fitness turned him into a millionaire. What will following your passions lead too?
I like the turn and pivot aspect that you write about. It’s foundational in entrepreneurship so it should be commended when noticed.
I also like that you picked someone who specifically looked for a niche that wasn’t being addressed. Brick and mortar wasn’t turning the profits or attention that he wanted so he did something different and unique.
Good work!
Hello there!
I like how Alex twisted his product to be more unique. The use of software in a physical product with has yet to really go digital was a brilliant way to stand out. The way he marketed himself put him in a place with ties to so many companies.