F45 and its band of celeb investors prepare to IPO
Functional training gym F45 is about to launch its IPO and has the backing of global celebs
What's the key learning?
- Modern day gyms offer an inclusive social experience
- F45 differentiates itself from other gyms by meeting consumer's need for high intensity workouts, with a social angle
- F45 will use the IPO as a way of growing the number of franchises
TELL ME WHAT F45 IS DOING!
F45, the Aussie-born fitness chain that is backed by Mark Wahlberg, is finally going to IPO and expects a valuation of around $2 billion.
F45 is a fitness franchise (or cult) founded in 2011. It's a 45-minute fitness class that pretty much revolutionised the group fitness industry - through slick branding screens and celeb endorsements.
They planned to go public in June 2020 by merging with a special-purpose acquisition company (aka SPAC) - but the deal was canned when COVID forced its doors shut.
So, what's the key learning?
The successful gyms of the 21st century aren’t the local gyms with rusted dumbbells, wobbly benchpresses and Arnold Schwarzenegger style trainers. They’re the ones that offer a social, group-like experience.
F45 was unique because it capitalised on consumers’ need for a fast-paced, high impact and social fitness experience. An unmet need at the time.
It has grown to 45 countries and almost 2,000 studios fast and will use the IPO as a way to continue growing the business globally.