CrossFit is up for sale (again)
CrossFit is up for sale (again)Today’s newsletter examines the business behind CrossFit, including annual revenue numbers, profit margins, recent transactions, and what leadership can/should do to revive the brand’s image.
For the second time in five years, CrossFit is for sale. The fitness company known for its high-intensity, functional workouts announced last week that the brand has hired Moelis & Company to review a “wide range of buyers” for its “next phase of growth.” This confirms a rumor that has been circulating for months, but let’s not kid ourselves: CrossFit isn’t holding a public auction to facilitate its next growth phase. Founded by former gymnast and personal trainer Greg Glassman in the 1990s, CrossFit was once the blueprint for building a cult-like following. The training regimen exploded in popularity throughout the 2000s, signing up more than 14,000 affiliate gyms worldwide by 2018. These affiliates paid CrossFit $500 to $3,000 annually to license the CrossFit name, depending on when they signed up. The brand also made millions each year by requiring trainers to complete certification courses… Subscribe to Huddle Up to unlock the rest.Become a paying subscriber of Huddle Up to get access to this post and other subscriber-only content. A subscription gets you:
|
