SolidCore's Premium Profits
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A premium fitness studio model called SolidCore that combines Pilates-style workouts with high-end branding and lean operations. The business grew from a single location to a $250M+ exit through efficient operations and strong community building.
Key Points:
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Initial Launch Strategy:
- Started with $175k personal savings
- First studio did $90k revenue in month 1
- Focused on filling 8 classes/day with 15 reformer machines
- Used grassroots marketing and flyers for customer acquisition
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Operational Model:
- Minimal staff - instructors only, no front desk needed
- High-end reformer machines as main equipment investment
- Premium pricing with high utilization rates
- Very lean overhead costs
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Growth & Profitability:
- By year 2, founder taking $1M salary from profits
- Grew to 11 studios by 2016 without outside funding
- 2024 projections: $150M revenue, $50M profit
- Claims to be "most profitable fitness studio" due to lean model
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Exit & Valuation:
- Sold for ~$250M after 10 years
- Founder took ~$90M off table through various funding rounds
- Current valuation estimates around $800M under new ownership
- Maintained profitability through COVID shutdown
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Key Success Factors:
- Strong branding and community building
- Premium positioning with "Barry's Bootcamp" style edge
- High trust and recurring customer base
- Efficient operations with minimal overhead
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.