Maverick Community Update

🙌 Asks

👍 Highlights

We‘ve been open for just over one year and have been consistently growing our session count and trainer + physical therapist count every month.

Monthly session count (session = a personal trainer or physical therapist renting space for 1 hour)

We have 30 paying physical therapist and personal trainers. 21 of these 30 trainers were training in the facility last week.

Our retention has been excellent. We haven’t lost one customer and our best customers are growing inside our facility.

$700k+ in end customer revenue over the past 15 months that we’ve been open (4,600 sessions)

We’re signing up ~1.3 new customers per month. Like any B2B business, getting new customers takes a while (long lead times) but once you get them, they stay (as evidenced by our high retention rate… no customers have left our facility). This is a customer captive business and we’re constantly thinking about providing excess value to our customers so that they never want to leave. We have extremely high standards for client happiness.

Community of vetted like minded individuals (no other gym/co-working facility is screening customers (ex: our competitors allow any trainer in as long as they pay).
Partnerships from major brands like Adidas, Momentous, Fount, etc.
Monthly workshops that provide first-class education
High-end, high tech equipment only found at professional sports facilities
Competitive pricing in the market

It has been challenging as a retail tenant at the bottom of a REIT owned apartment building. The lack of customer service has been eye-opening and our landlord has made it clear their main focus is on their residential tenants. The issues listed below haven’t made our customer’s experience much worse but have led to increased costs for our business. Brief summary of issues over the last year:

Our monthly Maverick basketball games are gaining traction (~20 trainers + PTs showed last event)

Our locations are at break-even with ~180 sessions/week (ex: 5 customers training 5 clients each or 3 customers training ~8 clients each), and we can achieve 30% EBITDA with 40 sessions/day.

Reminder: we currently have 19 active members (active = using facility on a weekly basis). This means we get to break-even our 19 members averaged ~9 sessions/week (or <2 sessions per day if they worked 5 days/week).

Warm intros to professional physical therapists, athletic trainers, professional sports strength trainers, performance specialists, and personal trainers.

Warm intros to doctors that could give client referrals to our DPTs and PTs (orthopedics, internists, physicians, psychiatrists, etc.).

Connections to professors at any local Los Angeles physical therapy doctorate programs.

Our customers – Kris, Lauren, Ralph, Mariel, Alison, Victoria, Hunter, Alex, Malachi, Julia, Jamaar, Anthony, Bill, Morgan, Cristiano, Bill, Melissa, Nick, Noah, Everdina, Jason, Ty, Al, John, Katie, Rory, Brandon, Adrianne, Arby – we’re building this business for YOU – thank you for trust and partnership!!
Steve LePore for giving constant encouragement and advice.
Jim at The SageHouse for our weekly calls and your constant wisdom.
Ty, Jesse, Kyle, and the team at Players Health insurance for helping us switch over to your team.
Julia at adidas for hooking up all our members with head-to-toe adidas welcome packages and for being a great friend!
Momentous for your partnership. Our members love your product!

We appreciate your support. Please reach out via text, call, or email if you want to discuss further.

Michael & Christian

818.577.0592