Floyd Mayweather Fights His Way Into Fitness Franchise Industry
The rise of mixed-martial arts has boosted interest in pugilistic workouts among those craving something different in their fitness pursuit.
Since his victory over MMA champion Conor McGregor, boxing legend Floyd “Money” Mayweather has been building a franchise chain of fitness centers where members can “train like a champion.”
Mayweather opened his flagship gym last year, which became profitable after three months, the company said. The company recently announced that 100 franchise locations have been sold so far, putting it a fifth of the way toward of a goal of 500 studios.
Of the 100, Southern California-based Venice Brands, a food and beverage company, struck a deal for 30 locations around the San Francisco Bay Area. New locations will open in New York and Tampa this summer.
Mayweather Boxing + Fitness is pitching the franchise as a low-cost way of getting into the brand. It said a startup studio can cost as little as $200,000, while an existing fitness studio could convert to the brand for about $70,000.
A total of 15 are expected to set up shop this year, according to the company. Mayweather Boxing + Fitness said the highest concentration of studio openings would be in Texas, New Jersey, New York, Tennessee, Georgia, South Carolina, Missouri, North Carolina, Virginia and Illinois.
In a press conference last year in which Mayweather unveiled a virtual reality product associated with the franchise, he said he started the business because he knew he couldn't box forever.
“Something like this can last forever,” he told the crowd. “It’s all about establishing a brand and taking that brand to the next level.”
The franchise is tapping into a growing trend in group fitness workouts. Orangetheory Fitness, which as more than 1,100 locations, is one of the leaders in that business.
Many retail center owners like these types of fitness studios because they tend to generate a lot of foot traffic for other tenants.
Mayweather is putting a spin on the concept with training programs based on how he prepared for fights that got him to 50-0 as a professional. Members work out as group — shadow boxing, punching a heavy bag, doing a battle rope routine and lifting weights — with the goal of burning a lot of calories and fat.
But there’s also a lot of technology infused into the franchise concept. James Williams, the franchise’s CEO, said during the VR announcement that the fitness industry is evolving that way and the franchise “wants to be at the forefront of that movement.”
The VR product teaches the user how to box by boxing against a virtual Mayweather. “There’s no better way to learn to box than with the greatest boxer of all time,” Williams said.