29029 Premium Everesting
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29029 is a premium fitness event business where participants climb a mountain multiple times to reach the equivalent elevation of Mount Everest. The business model focuses on exclusive, high-end experiences with limited capacity and strong community building.
Key Business Details:
- 7 events per year
- 300 people per event
- $6,500 per person
- $13M in annual ticket sales
- Sold out entire year in 4 minutes
Success Formula:
- Story Element:
- Must be something exciting participants can tell friends about
- More compelling than standard events like marathons
- Challenge Level:
- 70-75% completion rate (optimal difficulty)
- 30% fail rate maintains prestige
- Skill Development:
- Participants must learn/acquire new fitness capabilities
- Location/Aesthetics:
- Beautiful venues (e.g., Whistler)
- Looks impressive in photos
Business Model Strengths:
- Negative working capital - customers pay upfront
- All-inclusive experience (accommodation, event management)
- Limited capacity creates exclusivity
- Focus on community building to drive repeat attendance
- Partnership with premium hotels (e.g., Fairmont)
Key Challenge:
- Avoiding the "fad" trap that affected similar events (Tough Mudder, Spartan Race)
- Must maintain engagement to keep people returning year after year
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.