Alex Hormozi is a successful businessman and the founder of Gym Launch. When he began, he endured struggles as a gym owner, but he put effort into learning the business’s intricacies. He transformed his struggling business into six profitable gyms. With his newfound success, Alex aimed for improvement and kept learning. Following experience gained running his gyms, he started a service to help other gyms become profitable.
Through Gym Launch, Alex Hormozi has worked with more than 1500 gyms in four continents. He also authored Gym Launch Secrets and hosts the Gym Secrets Podcast, where he shares valuable information about fitness and running a gym as a business.
Alex believes in accountability as this is one of the pillars that supported him and helped him transform his gyms into revenue-driving machines. From mastering sales to understanding how to structure classes for maximum impact, Alex Hormozi has gone through all the phases of learning. Every entrepreneur, not just in the fitness industry, could pick some valuable tips from Alex that they can incorporate into their business to drive change and achieve unimaginable success.
Gym Launch: Fastest Growing Company
Founded and owned by Alex Hormozi, Gym Launch teaches gym owners how to convert brick and mortar gym models into profitable businesses by following tested best practices for ascension, acquisition, and retention. The company helps gyms test new strategies for maximum impact and increased profitability.
Attaining the status as one of the fastest-growing companies was a significant achievement for Alex Hormozi, who began from the ground and built his wealth gradually to become a millionaire. In 2016, he sold his six gyms to focus on helping other gym owners through Gym Launch. Alex figured the most effective strategies for building a profitable gym business. He helps gym owners understand everything, including lead generation and how to retain members. This information is distilled in a format that staff members can easily replicate.
When he launched the company, the market responded well and embraced these services in overwhelming numbers. Since it was launched in 2016, Gym Launch experienced an explosive growth rate of 850% in 2017 and 525% in 2018. Today, the company is ranked as a $30 million a year business and employs more than 100 full-time employees.
Using the systems and processes designed by Alex, his company’s clients grossed $1 billion in sales. It’s impressive that the average revenue earned by Gym Launch Clients was an incredible $594. Gym Launch also created more than 40 new 7-figure gyms.
While Alex is the brain behind the company, he has been working with his wife, the Co-CEO of Gym Launch, to achieve the success the company enjoys today.
Innovation and Value Addition
One reason that makes Alex Hormozi’s company a success is its focus on innovation, which creates more value for their clients. With this innovative spirit, the company rolled out a program called “Gym Launch Hybrid”, which combines in-person and online training. Clients also get hands-on coaching relevant to their KPI’s to help them make immediate corrections and scale faster.
Alex Hormozi Personal Achievements
Besides being known for launching and running Gym Launch, Alex has also received several accolades for his achievements. Through his company, he supported more than 1500 gyms to achieve a combined $ billion in gross sales. He grew from zero to more than 100 employees and zero to more than $30 million in revenue within just three years.
Also, Alex has been involved in philanthropy projects. He donated $200,000 to After-School All-Stars and also pledged to support a campaign to raise an additional $2.7 million, which would support After-School programs. He was also featured on the Entrepreneur for his contribution to teaching lead generation for gym owners. Together with his wife Leila, Alex has received Click Funnels “2 Comma Club” award twice for hitting $1 million in sales. This places him in the top 20 from more than 60,000 participants.
Lessons from Alex Hormozi
During a podcast interview, Alex shared some of the secrets that enabled him to stay at the top of his game to succeed. Here are four points you can take from his interview that could help you improve how you run your business.
- Change Your Mindset
One of the takeaways from that interview was that as an entrepreneur, you need to change how you think when running a fitness business. You must transform your mindset from focusing on providing group fitness to offering a one-on-one training solution. The value of your services should be tied to one on one training despite the fact you’ll be running a fitness boutique. You should also maintain the same group pricing model as this would be lower compared to charging for in-person physical training as a personal trainer.
- Accountability is Key
Alex also emphasizes the need to maintain accountability. He argues that workout is the same for every offering. What distinguishes you from others is how well you can keep members accountable. Keep your members accountable to ensure they achieve their fitness goals.
- Each Staff Member Must Generate Revenue
In this podcast, Alex continues to say that each team member must be involved in revenue generation. You should assign members functions that ultimately drive revenue for the business. If you have surplus staff, Alex advises, you could have them follow up on leads or do cold calling half their day.
- How to Sell Over the Phone
According to what Alex has discovered, it will take up to 25 attempts to achieve the same closure as you achieved through in-person selling. You will make mistakes initially, but 80% of selling involves how you say words, while the remaining 20% is about the words themselves.
Through his journey in the fitness industry, Alex Hormozi has become one of the most successful entrepreneurs. After gaining experience running six gyms, he founded Gym Launch, a company committed to helping small businesses run profitable gyms. He offers insight into the best strategies as well as the things to avoid when you’re running a gym.