LOS ANGELES, United States –– Boxing champion Floyd Mayweather has announced plans to launch a new global business venture; Mayweather Boxing & Fitness, following his forthcoming fight against Conor McGregor.
To facilitate ambitious plans for 200 gyms within 24 months and 500 in five years, Mayweather and his team plan to employ an “enticing” franchisee and affiliate return model that will allow for gyms to open in neighbourhoods all over the world – including traditionally underserved communities.
According to Forbes, the franchise model will see Mayweather Boxing & Fitness collect an upfront fee on each gym, as well as a percentage of annual revenue. “Affiliates will be non-Mayweather branded gyms or studios that offer select programming at more affordable pricing. A Mayweather gym in an affluent area might cost as much as $140 per month but could go as low as $40/month in areas with lower incomes.”
Emblematic of Mayweather’s passion for family, fitness and community, the enterprise will be grounded in the philosophy that fitness levels shouldn’t be determined by socioeconomic status and that everyone should have access to, and benefit from, elite fitness resources.
“My whole life has been about boxing and about fitness, and now I’m taking everything I developed and bringing it into the fitness market,” explained Mayweather.
“Our fitness experience will have programs for kids, parents and aspiring athletes – anyone who’s looking to put energy into something positive. The training programs will be the best in the industry, all based on my own workout routines; and they’ll be accessible to all, including communities that don’t currently have these kinds of facilities available.”
In addition to brick and mortar gyms, Mayweather Boxing & Fitness will also launch a mobile app and in-home Virtual Reality experience, to maximize the number of people who can access the training experience.
To support Mayweather as Chairman, James Williams, a former Bain & Co. employee and business consultant, will fill the role of CEO, while Mike Melby, who helped to grow UFC Gyms into an international brand, will form part of the company’s management team.
“We’ve seen a shift in the fitness industry, in that the average consumer is seeking access to the same training that elite athletes have available to them; and more studios and gyms are now dedicated to a specific discipline,” commented Williams.
“Within those offerings, boxing fitness is a highly popular and extremely effective workout. We are excited to cater to this demand all over the world and be a meaningful part of the next-generation fitness experience; all under the banner and guidance of the most dominant boxer of all time.”
Speaking with Forbes, Williams revealed that international markets, including the UK, Australia and the Middle East will account for around 60% of the company’s business. He is currently in talks with investors and hopes to have a number of deals in place over the next six months.