Mayweather Boxing + Fitness, a group exercise experience created by World Champion boxer Floyd Joy Mayweather Jr., announced the launch of over 135 franchise locations earlier this month.
CEO James Williams spoke with Benzinga about his gym’s role in disrupting the fitness industry.
About Mayweather Boxing + Fitness
Mayweather is a retired, undefeated professional boxer whose passion for exercise and self-improvement inspired him to build an impactful health experience, Mayweather Boxing + Fitness.
The Mayweather gyms draw on his more than 20 years of professional boxing experience, codified into programs adapted for the group fitness market.
“It’s taking an elite athlete’s workout — never shared with anybody — and adapting it for a group setting,” said the gym’s CEO.
Rapid Expansion, Fitness With A Twist
The franchise leveraged a powerful group of Mayweather contacts in private equity, business development and fitness to launch flagship branded locations, Williams said.
“We had a hugely positive response; the first gym was profitable within three months and membership growth was far stronger than forecast."
Mayweather received in excess of 6,000 applications for franchises, due in part to his 70% consumer awareness rate, the CEO said.
“In [the first and second quarters] of 2019, something interesting happened,” Williams said. “We had multi-unit operators of other franchise brands, as well as small venture capital and private equity firms, take on territory development deals.”
Early franchise owners understood the economics and long-term growth potential of the business and subsequently helped launch and begin development on over 150 locations, he said.
The fitness centers offer access to programs ranging from high-intensity calorie burn to strength and power training, toning and conditioning members at multiple levels of difficulty.
Training options include:
- Boxing HIIT: High-intensity interval training and cardio conditioning programs for members seeking a boost in their strength and physique.
- Power Boxing: Full-body workout that incorporates best boxing practices, strength training and conditioning exercises.
- Championship Boxing: A combination of the best elements of both Boxing HIIT and Power Boxing programs.
“It’s more than just a workout. It’s where members create friendships and hang out socially. When you do that, you want to stay much longer, not only because of the workout but because of the community you have become a part of,” Williams told Benzinga.
Mayweather's Economics, Long-Term Trajectory
Mayweather's plans call for growth outside major urban areas and the launch of an additional 50 studios over the next 12 months, Williams told Benzinga.
The brand hasn’t just attracted Mayweather fans, Williams said. Instead, it’s mostly individuals seeking to separate themselves from traditionally bland workouts available at competing fitness centers.
The brand will also incorporate more technology in its workouts, catering to an emerging trend in the fitness industry, the CEO said.
“We have a virtual reality product where members get coached to box by Floyd. We have a 12-week program; you go into the virtual product, and Floyd is there, doing the same pad-work combinations he would do with his father. You can even spar against different opponents, including Floyd.”
To learn more about the Mayweather Boxing + Fitness experience, visit mayweather.fit/studio/.
See more from Benzinga
- Market Turmoil Could Be A Boon For Some Alternative Assets
- Boro Leverages Alternative Data In Extending Low-Interest Loans To Students, Graduates: 'We Can Help Them Do That'
- Cudos Helps Workers Save And Invest For Tomorrow: 'We Make Retirement Benefits Accessible To All Hard Working Americans'
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.