GRIT BXNG offers a group fitness class and a full service bar.
GRIT BXNG: Where fitness meets entertainment
GRIT BXNG's 50-minute signature workout delivers high intensity, group fitness classes, with boxing at its core. Giant video screens and a world class light and sound system all come together to make the workout feel like a night out. Clients can hang after class at GRIT's Full Liquor Bar.
We make every GRIT client feel like they are part of a unique community.
After class, clients meet at the GRIT Bar with their trainers for a cocktail or mocktail. From theme parties to champagne tastings, GRIT hosts numerous events so that our clients can continue the group experience post-class. At GRIT’s dynamic new state-of-the-art luxury facility, a great workout combined with a place to meet post class creates a unique community.
GRIT is a multi-layered fitness experience that makes working out fun.
Target Sector: Over 86% of GRIT clients are age 35 or under.
Our biggest age demographics is 26-30 at 40.4%. Women make up 77% of the GRIT clientele. More millennials than other sectors view fitness as an affordable luxury. They are driving the social media culture and promoting the sense of sharing, community and movement that GRIT embraces.
What is the appeal of GRIT BXNG to millennials?
- Social experience based around training and meeting people
- Incredible studio environment
- Flexible pricing & convenient classes
- Distinctive brand that stands out in a crowded market
Being ‘Instagrammable’ is what drives the thought behind the detail at GRIT — will someone want to take a picture and share it? Mural walls, Swarovski studded punching bag and frequent photo ops featuring our clients keep the 'gram going!
GRIT’s mission is to inspire and motivate people to transform their lives and bodies, through its best-in-class trainers teaching GRIT’s unique fitness method.
At GRIT BXNG, the experience is about both mind and body. That's why GRIT trainers use motivational psychology to energize clients. Our dynamic lighting, sound, and giant video screens transport clients from daily life into a nightclub. GRIT gives the client an ADDICTIVE experience that makes them want to keep coming back.
GRIT BXNG has pioneered a new way to exercise
GRIT is a group-fitness boxing studio that delivers 50-minute full-body workouts—no experience necessary. Each workout is designed to target the entire body and burn maximum calories. Hundreds of trainers from all over the world auditioned to be a GRIT trainer, and we picked the very best.
Each class holds 54 people with just one instructor.
We consider each 50 minute session a live performance. The trainers motivate clients through a curated music, light and sound show that is unparalleled in the fitness world.
Our curriculum design ensures that no two workouts are ever the same so that your body never plateaus. GRIT BXNG is designed to target the entire body. Clients can burn up to 1,000 calories per session, relieve stress and experience an endorphin high for the rest of the day.
Our studios feature world class changing rooms and showers with top amenities for skincare and grooming.
We are a single-use plastic free studio.
Through our immersive classes with motivation from Tony Robbins and playlists by Pitbull, clients always say "time just flies by."
We are the group fitness studio with a full liquor bar. We've created a place to hang post-workout. Clients grab a healthy mocktail or cocktail, connect with trainers and meet new friends. Clients completed a hard workout, so they deserve this good time. We call it Exer-Tainment.
$2M in revenue by our 6th month
Our flagship NYC location generated its first $1million in revenue in 97 days. After 196 days, the GRIT NYC surpassed $2 million gross revenue.
Over 70K registrations booked in our first 7 months
The press can't get enough of GRIT
We have been featured in 100+ media outlets including ABC World News Now, Fox Business News, CNBC, Yahoo! Finance, GQ, Refinery 29, People, etc.
"GRIT BXNG brings a bar (and bitcoin) to the boutique fitness space"
"The New NYC Workout Studio GRIT BXNG Will Push You To Your Limit In The Best Way"
"No one likes to work out," Zanker tells CNBC Make It. "Now working out is fun"
"GRIT BXNG, the gym that lets you box, booze and pay with bitcoin"
"GRIT BXNG offers a full service bar"
Tony Robbins approves!
"GRIT BXNG Will Provide A Space And Experience Unlike Any Other" - Tony Robbins
"You Gotta Put Your Money At Risk...So It Makes Babies And It Grows Up And Takes Care Of You In Your Old Damn Age" - Grant Cardone
"I haven't Been This Excited About Working Out Since... Probably SoulCycle Opened Up" —
Courtney, GRIT Client
"I lost 30 Pounds Taking GRIT BXNG" -
Marlisse, GRIT Client
Key Revenue Sources
1. Individual classes. We charge an average of $36 per class (similar to SoulCycle).
2. Class packages. We offer discounted class packages of 5, 10, 20, 50 and even 100.
3. Memberships. Members are billed-monthly for classes. The most popular membership is 8 classes per month for $199.
Our customer acquisition cost on our $36 intro offer is approximately $20, a fraction of the lifetime value of the client after only 7 months. We project the 18-month client LTV to be $500, a 25x on CAC.
We project to earn 15-20% EBITDA per unit.
Sold Out Classes
Our classes sell out consistently. See the waitlists. A typical sold-out GRIT class averages a 12 person waitlist.
A $30 billion opportunity
In the United States alone, the fitness industry is worth $30 billion. Globally, that number is $80 billion. Boutique fitness studios are unique in their low attrition rates of approximately 24%, which is well below the typical gym rates of over 50%. The specialized nature of the boutique clubs make members feel more loyal.
The biggest growth sector in the gym world is boutique fitness.
- A record 71.5 million consumers used close to 40,000 for-profit health clubs in 2018, according to the International Health, Racquet & Sportsclub Association
- Small, specialized fitness studios have ever-increasing price tags. Names like Barry’s Bootcamp, SoulCycle, and Orange Theory (CNBC Aug 19 2019)
- SoulCycle started with one studio in 2006. In 2011 SoulCycle was sold to Equinox Fitness. The two owners each took out approximately 90 million each. In 2015 it filed to go public at a valuation of around 900 million (Fortune April 2016)
- Barry's Bootcamp was acquired by North Castle in July 2015 for a purported $100 million. It is now being shopped by Goldman Sachs at $700 million (Bloomberg Oct 2019)
Boutique Fitness is On Fire!
America's newest fitness addiction
Boutique Fitness is a growing industry. Based on the success of our NYC flagship studio, this is just the beginning. GRIT has signed a lease in the Castro district of San Francisco and is prospecting for a 3rd studio in NYC based on the overcapacity at the current studio. GRIT plans to make its community a nationwide phenomenon.
GRIT executives plan to open 10-15 more studios in the next 5 years at a rate of 2-3 studios per year. Assuming a strong EBITDA in year 5, we believe we will be an attractive acquisition for a buyer in the leisure sector or to a private equity buyer. We would also consider an IPO.
We are working on a GRIT BXNG At-Home product. We will deliver the same amazing GRIT experience, in your home. Lucy Guo, who co-founded a $1B Silicon Valley Unicorn, Scale.com, will be the Co-Founder and Head of Product Development of GRIT At-Home. We expect to have this to market by early 2021. We will use our existing customer base, our marketing expertise and our brand awareness to quickly drive sales.
$5M raised to date
GRIT BXNG is backed by Tony Robbins, Pitbull, Tim Draper, Lucy Guo, Nick Taranto, Dave Goodman,Naveen Jain, Barry Baker, Mark Gormley and other brilliant business leaders. We've raised $5M to date. In fact, Pitbull has signed on to promote our brand to his 100M+ social media fan base.
Some of our additional prominent investors:
We're an acclaimed team with numerous exits
Co-Founder & CEO, Bill Zanker is a serial entrepreneur. His companies have been featured twice on the Inc. 500 list of fastest-growing companies. He started The Learning Annex which he grew to over $100 million in 3 years. He started The Great American Backrub in which he completed a successful IPO. He also launched one of the first online learning companies that also went public. He received the Excellence in Education award from PBS.
Chief Operating Officer, Christopher Murray has been the director of four mid-market startups since 2008, generating more than $150 million in product sales. He's a direct-response marketer at heart.
Curriculum Fitness Director, Chan Gannaway was employee #5 at Orangetheory Fitness, where he grew Orangetheory to 120 locations as well as leading curriculum, training, and brand compliance in 12 regions across the United States and Canada.
Co-Founder, Dylan Zanker heads Food & Beverage at GRIT. Dylan is a graduate of ICADE, Madrid's top business school, where he threw massive themed parties across Europe and South America.
Co-Founder, Ediva Zanker is a fitness addict and proclaimed "queen of gyms" throughout the United States. She was the only female boxer at Syracuse University and now leads fitness trainer acquisition and overall studio customer experience at GRIT BXNG.