Golden Home Fitness, Inc. began as a personal quest to bring the benefits of personal fitness training to people who for whatever reason could not, or would not find it in their local large health clubs. I was like many of our soon-to-be clients, a middle aged man who was about 50 lbs overweight, had high blood pressure and diabetes. I had joined countless gyms but never made any progress. in 2012, I joined a health club and for the first time hired a Personal Trainer. The experience was life changing. That's where I came up with the idea of having personal trainers travel to client's homes. I had already developed a backend database for real time tracking of tutoring sessions for a tutoring franchise I currently owned. I revamped the database and hired quality personal trainers to travel to our clients homes or apt. complex gyms to train them. We have forged relationships now with over 120 luxury apt.communities in the greater Boston area. By the way, I lost 50 lbs and now am in better shape than most 25 year olds...I'm 62.
Last year we also opened a private studio in N. Andover that will serve as our main hub in the N. Shore and will serve as a private training center for clients. It also allows us to offer wholistic care for our clients by combining on-site Physical Therapy sessions when they are in need of it, Nutritional guidance as well as Lic. Massage Therapy. All sessions are interchangeable for each Client. In addition, we are starting our own Personal Training Academy at the Studio (since it is becoming difficult to find our type of trainers to hire), which will serve both as a separate revenue source as well as a training ground for future GHF trainers to hire.
Our intent is to move south with this business model, staying in the major city affluent suburbs. We found that while there are many high rent luxury apts in Boston, the cost of sending trainers there is cost prohibitive. Also, while the rents may be high, that fact alone does not necessarily correlate with out type of client....women age 35-60.
We also have a business unit in Florida which is now relocating from Tampa/St. Pete area to the more affluent east coast (Ft. Lauderdale and north to W. Palm Beach.)
We have, and plan to have 6 separate revenue streams: 1. Personal Training 2. Studio Small Group Training 3. GHF Academy (train trainers) 4. Products (nutritional/weight loss currently sponsoring Shop.com products) and finally 6. Virtual Personal Training.
Regarding the GHF Academy: We have negotiated with one of the major national certifying agencies in Personal Training, ACE (American Counsel on Exercise) and they have supplied us with all the training material that they offer students when prepping for the certification exam. We have developed a personal training course to take students through all the book work as well as one on one training with real clients in our studio. Added to that, we plan to thoroughly train them in our marketing and sales techniques (most agencies leave this vital step out).
We have grown exponentially during the past 5 years. Initially, I started this company with myself and two trainers in September of 2015. Our revenue that year was $5400. 2016 our revenues were $41,359. In 2017 they were $68.398 at which point it became clear that I needed not only someone who knew the business, but was also all about sales. I hired my VP, Evan Aubrey. The 2018 revenues were $157.848 and 2019 were $444,000.
We have now built a fully integrated backend to manage as many business units that we may eventually have. I developed a full CRM that is fully integrated with our main database, our merchant services, our accounting software and our many many landing pages on our Website. We have a fully developed social media campaign that is also integrated with our CRM. Our ad campaign with FB and Google is developed, but needs more cash to squeeze out more leads.
During 2019 we opened a new studio and started the FL business unit. We acquired a fair amount of debt which we were planning to refinance this March. However, Covid-19 has all but shut down the fitness industry. Luckily we have made great progress during the past several months with our Virtual Personal Training Platform, and we hope to capitalize both on the current opportunity for Virtual Training...as well as address the pent-up demand for Personal Training once this crises is over.
We are asking for a minimum of $500000 in order to consolidate/pay off debt and have funds remaining to keep our staff on payroll while continuing our marketing for all the above mentioned revenue streams.
As background, I am a MD, PhD who has worked as an engineer for IBM, a Marketing Rep for IBM, an Account Executive for Wang Labs, a Harvard Surgical Research Fellow. I did my internship at the BI/Deaconess medical center and residency at MGH. I left medicine in 2001 for a venture firm. I later started a medical device firm as well a couple of smaller companies. I bought a franchise in tutoring in 2012 which I sold in late 2015 due to the rapid growth of Golden Home Fitness.
I personally have put more than $250,000 into Golden Home Fitness. I own 80% of GHF.
www.goldenhomefitness.com