Click HERE to watch/listen to an overview of this update
Table of Contents
🙌 Asks
✍️ Thoughts
👍 Highlights
- Wellness professionals love our concept - proven by an NPS score of 77 (Net Promoter Score measures how likely your customers are to recommend you - anything over 30 is “high”. We’ve had ~110 instructors use our space, and ~70 are actively teaching a combined 20 modalities of fitness and wellness.
- We’ve added a full three-camera setup with live editing, custom lighting, and a digital mixing board that has transformed our space into a full production studio. The magic is getting the room to provide great energy for the instructors to teach in person while giving an exciting experience to the people streaming from home. Watch the < 60-second video HERE to see the type of footage we’re helping instructors create.
- Additionally, this footage is available to instructors one second after they finish teaching their class via auto uploads to dropbox. Live editing means no post-production work, allowing instructors to post, market, and sell their content immediately.
- We’ve launched our Coaches of Maverick series across all social channels (inspired by Humans of NY). Christian is interviewing each instructor while walking on the beach and asking deep questions about how they became wellness professionals. We’re using storytelling to create amazing content and connect with prospective instructors and their respective clients. We’ve still yet to spend any marketing dollars on attracting customers.
- Press
- Click HERE to read our mention in Fitt Insider. It feels good to be mentioned in a newsletter that has taught us so much about the fitness industry
- IRS approved our nonprofit 501(c)3 status. Read more about Maverick Forward HERE.
📚 Learnings
- Beyond instructors selling their digital classes, we've found that filming an instructor's class creates an excellent opportunity to edit their content into smaller reels for marketing purposes. Creators are stuck on the content creation hamster wheel, and Maverick can ease this pain by creating content for them from already recorded classes. This changes the paradigm from creators taking additional time to create and edit content to just being the content and having everything else done for them.
- Examples of reels we've created here, here, and here that have generated thousands of views for creators. We're looking into automating this process as well.
- Group fitness business strategy is entirely different from a 1on1 therapist/coaching strategy in terms of marketing, retention, sales, etc. The coach/instructor/therapist stands out in both instances and brings everything together, and we're working on new strategies to help group instructors even more. See more on this in the Thoughts section under the Co-op model.
- Our team is staying extremely scrappy and lean during these unfavorable market conditions. We've made great social media and video editing hires overseas via Upwork, and we're continuing to automate our processes in the studio to keep our headcount low. We can remotely access our lights, cameras, music, AC/heat, door access, vending machine to sell water/snacks, QR codes for self-service yoga mat and spin shoe rentals, etc.
- Our organic marketing approach (still at $0 in ad spend) is working. The creators in our space are continuing to market for us.
🏃 Next Moves
- We've solidified a partnership with CAA and are working together on updating our branding - logo, colors, photos, interior design, etc. The new branding should be complete by the end of July. Reach out if you want a sneak peek.
- We're researching and building out a test product (service) to offer end-customers a ClassPass-type offering that includes all Maverick instructors who'd like to participate (think co-op for wellness professionals). We're creating a win-win-win structure for the instructor, the end client, and Maverick. More on this idea in the Thoughts section below.
- We're launching Maverick Play, a monthly series focused on getting wellness professionals out of the facility and networking with each other. Our first event is pickleball in Venice, sponsored by Adidas, who provided all 16 paddles and balls.
- We're in talks to launch a self-checkout setup so end clients can rent shoes/mats on their own via a QR code that allows them to pay via Apple Pay/Google Pay.
- We're looking at alternative places to find serious coaches looking to run their own businesses, starting with Loopnet.
- We're attending our first trade show in Miami - IHRSA.
- Christian is looking into taking Coaches of Maverick a step further and starting a Maverick podcast. He is working with CAA to craft our strategy and look at a pipeline of potential guests.
🙌 Asks
- Let us know if you want to take a class - in person or virtually! We'd love your feedback on your experience. See schedule HERE.
- Introductions to landlords with beautiful space in Los Angeles (focus on West Hollywood, Brentwood, Mid-City, Hollywood, Studio City). We're looking for 5-10K sqft (indoor + outdoor is a bonus). Easy, plentiful parking is a requirement. Ex-fitness facility is preferred but not mandatory.
- Introductions to personal trainers, group fitness instructors, physical therapists, massage therapists, and other wellness professionals in Los Angeles.
- Introductions to digital fitness companies that could utilize our studio space to see their clients in person and/or film content. Ex: FitOn, Future, Steezy, Obe Fitness, Beachbody, etc.
- Introductions to non-profit leaders doing impactful work in Inglewood or South LA related to entrepreneurship and/or fitness.
🙏 Gratitude
- Yoshi, Xavianca, Ale, Arshi, and Santiago for your amazing attitudes and trust in our mission. Christina, Steve, and I have had so much fun building with you all.
- The following instructors for believing in Maverick and using our space to inspire and train your clients. We are so thankful.
- Assad, Greg, Madhavi, Tunde, Sarah, Odell, Sara, Grace, Haruna, Harper, Shai, Robin, Queenie, Michael + PERFitness team, Michael, Meredith, Lany, Kelly, Kelli, Katie Cakes, Jewell, James, Dorothy, Dorian, Cole + the Don't Tell Comedy team, Dani, Daz, Chevy, TR, Gayle, & the entire Calming Spot team, Charlotte + Brad, Carolina, Andrae, Alexis, Shay, Danielle, Liv + the Liberate team, Ashley + the entire Ashely Shubert team & community!, Colette, Billy, Jen + the entire Spinnstrong team, Drew, Toniann, Amalea, Carson, Liz, Karly, Jason Stacey + the entire Plyojam team, Malin, Kelly, Chris P, Thalia, Milchu, Manu, Amber, Laurel, Nicolea, Shay, Remy, Kellie, Adonis, Katie, Jada, Jackson + Lisa, Brett, Alexis, Pixie, and Samm.
- All investors for committing to our pre-seed round. Thank you for believing in us! Brad Abby and Dan Sherman, Sean Moran, Jodi & Mike Mooney, Raad Mobrem, Andy Gindy, Jordan Schau, Mike Rabin, Jim Crowell, Jason Crowe, Jenna Randolph, Jeff Bhasker, Khaled Jafar, James Valentine, Ty Walrod, Jonathan Haas, Josh Payne, Anne Kelly, Hunter Gray, Martin Gossner, Ami Lebendiker, Kevin Bernet, and the OnDeck ODX team
- Our CAA team (Tem, Benny, Oli, Si, and Stu) - thank you for your dedication to transforming our brand. It's been a pleasure working with you all. We're creating a fantastic brand together.
- John Leeson, Max, & the Pool House Productions team for creating an incredible production studio and solving every lighting, video, and audio need we threw at you. You guys are awesome.
- Chris Moreno for spending so much time with us in LA brainstorming new ideas and introducing us to potential investors and partners.
- Shawn Xu for your continued guidance and connection magic. We're lucky to have you on our team!
- Patrick Morselli for providing us with honest feedback → (1) focus on quality over quantity of new locations, and (2) focus on customer experience first and foremost… then grow! It is nice to get advice and feedback focused on calculated, smart growth.
- Cody Kollman at Compass for chatting with me about Compass's company structure and why top brokers like Compass so much. We strive to build the perfect infrastructure for the top wellness professionals, just as Compass did for real estate brokers.
- Rachel and Lily at Apex Optimizers for featuring Maverick as a perk to this community.
- Raad Mobrem for your friendship and being a great advisor. Really appreciate you for helping with the deck! Your design skills are unmatched.
- Alex Angeline for opening your network and making fast intros.
- Dustin Glass at Brooks for brainstorming the fitness industry and teaching about your take on influencer marketing. Shout out to Vincent Loris for this intro!
- Helaine at City Row for your experience share on the fitness space and your encouragement. Shout out to Zac Bindler for this intro!
- Ty Walrod for reviewing our deck and providing helpful feedback.
- Jiarui Wang for your experience share with Cameo and the creator economy in general.
- Hugh Gibbons for reviewing our deck and honing in on the storytelling aspect. I very much appreciate you!
- Nikhil Dhawan for your brainstorming partnership as we enter this new stage of wellness entrepreneurship together.
- Karthik Bhaskara for your thoughts on our tech angle and willingness to dig into our concept.
- Rony Rosales for all of your help and work around our facility. Rony is your guy if anyone is looking for a fantastic contractor, painter, flooring guy, handyman, etc
- Raj Sheth for making intros, for your excitement for Maverick, and for being an honest and interesting friend! I always learn when I'm around you!
- Eric Roseman for opening your network and making helpful introductions.
- William Sulinski for your help reviewing our deck and digging into storytelling ideas.
- Steven Bluestein for including me on my first podcast for Maverick!
- Julia Maltby at Flybridge for your wisdom and guidance and for taking the time to visit us in person.
- Amira Polack at Struct Club for teaching us about the fitness space, opening your network, and inviting us to fitness events. Your friendliness and inclusiveness are so appreciated.
- Jessi + Big Room team for building amazing software and being patient as we learn to use it
- Max Hirsch for opening your network and making helpful introductions.
- Alex at Sweatworks for taking the time to visit Maverick and brainstorm tech/software concepts.
- The BXP team (Jon, Jack, Alex, Stephanie, and Tim) for wanting to partner with us on a deeper level and working together to build a fantastic facility.
- Xan Sachs at Beta Agency for your help navigating the real estate world.
- Adidas for your support with amazing carbon Pickleball paddles for our first Maverick Play series.
- Jim Crowell for challenging us to think deeply about the customer journey - focusing on the emotions we want them to feel. And for opening your network and making helpful introductions.
- Casey Jenks for taking the time to visit our facility and explore potential partnerships.
- Aaron and Blake for helping set up our digital mixer and ensure our sound is top-notch. Let me know if anyone is looking for sound engineers.
- Marcellus and Brandon for digging into our concept and showing excitement to partner with us to grow our for-profit and non-profit together.
- Mike Rabin for help surrounding all things real estate LOIs and leases.
- Lacey Stone for being such a kind and encouraging friend in this industry.
- Rick Bhardwaj for your friendship and constant support, and idea-sharing.
- Rachel Lea at Sutra for all of your helpful intros and connections and your constant encouragement and support.
- Martin Gossner at Steiger Dynamics for building a superb computer for all of our content, data, and editing needs!
- James Gavin, mentee at UW-Madison, for continuing to inspire me. Excited about your new business this summer!
- Phillippe Rieser for your continued support and consistent wisdom!
- Octavio at Prudential for always being there for us!
- Sean Mahsoul at Mayfield law for all legal assistance
- Henry Miller at Miller Fund for making great intros and being our biggest cheerleader.
- Wes Kennedy for at Lotus Method for your encouragement. Excited about your new Brooklyn location.
- Silke at RSG Group for your excitement, encouragement, ideas, and constant introductions.
- Julia at Adidas for your friendship and idea-sharing.
- Chad Cooperman for helping set up our new camera system!
- Jeff Cayley for challenging me and being a great friend. I always learn and grow when I'm around you. Read further on my appreciation for you via the Thoughts section on our Misogi.
- Alexa and Narges for believing in us and putting up with constant banter and early mornings/late nights.
✍️ Thoughts
Co-op / co-ownership Maverick modelMy first Misogi - a brief story on risk-taking and adventureThis is FunDisruptive Innovation by Clayton ChristensenThanks for your support. Please reach out if you'd like to learn more or talk further.
Michael@bemav.co
323.417.9300 (text/call)