Floyd Mayweather has spent 21 years as a winner in the sport of boxing. He has now partnered with an industry-leading team to deliver the gold standard in boxing group fitness. Through which he shares his proprietary – and previously unshared – workout programs and routines. James Williams, CEO has been making headlines with Mayweather Boxing + Fitness.
Find out from James, how you can join the winning team and become a leader in the fitness industry.
1.How did you enter the franchise business?
I started my career as a corporate lawyer at Clifford Chance and then as a strategy consultant for Bain & Company, before becoming a co-founder of Ivy Venture Partners. At Ivy Venture Partners I helped athletes and entertainers build their businesses, working with Beyonce, Laird Hamilton, Gabby Reece, and other great people. It was through a mutual friend, Burrel Wilks, that I was introduced to Floyd Mayweather. We all had been talking about Floyd’s next business venture outside of the ring for quite some time. Floyd has always been an incredible businessman – and revolutionized the economics of the sport of boxing. Together, we developed the initial concept of Mayweather Boxing + Fitness as a franchise model, where we would build the infrastructure for talented and passionate entrepreneurs to thrive under the power of the Mayweather brand and system.
2. Where and how did the idea of your concept come from?
It came in one of our many late night strategy sessions together. We ere talking about how Floyd had chosen to never taken a major licensing deal throughout his entire career. This has allowed him to maintain absolute control over his name and maintain all of the brand equity, which created a very exciting and valuable opportunity for him to now build something based on the power of that brand. Secondly, Floyd is the most successful athlete in history. His passion for fitness and his core values of hard work and dedication are totally authentic to who he is and how he made his name for himself. Taking his training secrets and regimens to the mass market was an obvious choice. Mayweather Boxing + Fitness paired Floyd’s love for fitness and his desire to help people from all neighborhoods and all demographics to live healthier, happier lives. Boxing + fitness is such a huge part of what makes Floyd the person he is, and he was very eager to help inspire and change other people’s lives.
3.What inspired the brand name?
Mayweather Boxing + Fitness marries the two core components of our Studio model: boxing and fitness. On the boxing side of the class structure, members get to learn the actual fight winning boxing combinations from Floyd’s 50 wins. On the fitness side, members burn calories and build strength using the same training methods that Floyd used to stay in top shape throughout his career. It’s very important for us to let people know that this is not just a boxing gym – it’s a boxing fitness gym – where anyone can come, burn calories, let off steam and most importantly, have fun. Our members also love the fact that they are considered part of Team Mayweather.
4.What is the story behind the brand’s logo?
The brand’s logo is made up up of an ‘M’ and upside down ‘W’, stemming from ‘MayWeather’, and comes together to make a symmetrical design. The entire franchise is built on the name and likeness of Floyd, so it’s natural that our logo would stem from his name. The four lines in the design also depict the ropes of a boxing ring.
5. What makes your brand different from your competitors?
Floyd, of course, is a huge differentiator for us. It’s a significant advantage for so many areas of the business, from super low costs to attract and acquire franchisees, to best-in-class member acquisition costs for our studios, to incredible programming and better results for our members. The head start that our franchisees have right from day one, because of Floyd, is almost incomparable. Consumers are smarter now more than ever, and the authentic tie between Floyd’s accomplishments, passions and the business is apparent. His success and physical dominance are undeniable, and they translate directly to demand for this brand, both on the franchise side and the memberships.
We also invest heavily into the franchise business, both in terms of support for our franchisees, as well as into technology to enhance the system. For example, we build a virtual reality product for our franchisees to use, that allows their members to get coached by and spar with a virtual Floyd – this just enhances the in-studio experience and helps set us apart from our competitors.
Finally, Floyd lives by the words ‘Hard Work’ and ‘Dedication’ and we reflect that sentiment in everything we do as a corporate team. It’s all about working hard, supporting our franchisees, and creating a structured, passionate and systematized environment to build efficient studios and run successful businesses.
6. What are the essential qualities that you look for in a franchisee?
Desire and passion to work hard and dedicate your time to building something special and committing to achieving great success; proven track record of being a strong leader of teams, scaling operations, and creating successful enterprises.
7. What was the major challenge you faced in your career, and how did you overcome it?
One of the most major challenges I have faced in my career, similar to many entrepreneurs and business owners, has been navigating through COVID-19. When COVID-19 first hit, we realized we needed to pivot certain aspects of our business, including our staffing and pricing models, cleanliness standards, programming and studio policies. We took the time to dive into every component of Mayweather Boxing + Fitness and we have truly come out stronger than ever. Our Studios across the country are now incredibly well-placed to capitalize on the upswing that is coming in the boutique fitness industry throughout 2021 and beyond.
8.What is your best achievement?
Mayweather Boxing + Fitness!
9. How does your business day start?
I always wake up early to work out. I truly believe, like Floyd, that your health is your wealth. I wake up, get a pretty intense workout in to get the blood flowing. By the time I open my computer and start taking phone calls, I feel energized and ready to take on the day.
10. What was your best moment throughout your franchise career?
Opening our Flagship Studio in Los Angeles in 2018 was such an amazing moment because all of our hard work over many years had come to fruition. It was just the beginning of an even bigger journey that we’ve been on since – but it was the moment when everything was real for me, Floyd and the rest of the team. From there, welcoming incredible franchisees from all over the country and attending so many of their openings, together with Floyd, has been such an incredible and exciting path.
11. Where do you see your brand in the next 5 years?
I see Mayweather Boxing + Fitness continuing to grow around the world in the next 5 years and beyond. I have no doubt that we will be industry-leaders and that we will have hard working, dedicated and passionate employees, franchisees and members getting stronger and happier all over the world.
12. Any tips you want to impart to our readers who want to be in the franchise industry?
Operating a successful franchise location, like any business endeavor, isn’t easy – it takes hard work and dedication. Find something that you’re passionate and excited about, and the beauty of franchising is that there are proven systems and processes in place to help you succeed. Trust the process, follow the guidance from the franchisor, and be excited to be part of an amazing franchise brand!
For any further franchising queries you can contact:
Troy Franklin, COO, World Franchise Associates – troy@worldfranchiseassociates.com
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