Image Credit: Our Youngest Intern Back to School On Career Day!
Parents and Gym Owners, congratulations! You made it through summer. Historically, Gyms tend to see an increase in churn during the summer months, so if you’ve been feeling that burn, don’t worry, school is back in session. For Gym Owners, that means parents are back in a routine and ready to hit the gym.
At Gym Launch we’re big fans of running internal challenges, and events. Back to school is a great time to promote getting back in the gym and back to prioritizing your health.
As the pandemic days of working out from home come to a close, Peloton has felt the loss. In 2022, Peloton annual revenue decreased by 10% to $3.5 billion. Now in 2023, they have a comeback plan.
Peloton has introduced Peloton for Business, a B2B offering that brings their signature equipment to hospitality, corporate wellness, gyms, and community centers. So far they have struck partnerships with YMCA’s of Chicago and San Antonio, Volvo corporate wellness, and more. Peloton for Business includes access to Peloton equipment with unlimited user capabilities, and employee benefits for participating companies.
To head up Peloton’s B2B efforts, they have appointed Greg Hybl as General Manager of the Peloton for Business movement. With 20 years of experience at American Express in strategic partnership and business development, Hybl may be able to revive and expand Peloton’s service base.
Virtual Reality is breaking into the fitness industry with Virtuix's new Omni One VR Treadmill. The gamified treadmill allows users to walk, run, jump, and crouch in real time with the video game they are playing through the headset.
To get this project off the ground, Virtuix launched a round of crowdfunding, where they hoped to raise $5 million. Virtuix founder and CEO, Jan Goetgeluk, confirmed they ended their funding round at over $11 million raised.
There is definitely interest in this product, with 35,000 consumers on the waitlist for a VR treadmill. Pre-orders will soon be available to the public, and delivery is set to begin in 2024. To put these numbers into perspective, If Virtuix sells 3,000 units a month at $2,595, they would rake in about $100 million in annual revenue.
What do you think of combining VR with fitness? Could this be a great way to get kids, and America more active? Or is it a dystopian nightmare?
⚔️ Have you heard the Gym Secrets Podcast? Cale Owen, Mike Ferreira, and Ed Turney are sharing the secrets to a wildly profitable gym.
⚔️ Alex Hormozi gave a FREE masterclass during his Live Virtual book release. If you missed it, check out the replay, here.
⚔️ A Pennsylvania Gym Owner, has opened a new concept: A mental health gym focused on ‘brain training’. Read the BBC article here.
