Selling a gym that made $34M in 13 years

What’s up Gym World?

After 13 years in business and $34M in revenue, my friend (and frequent pod guest) Mark Fisher sold his gym, Mark Fisher Fitness.

But he’s not leaving the industry. Mark owns an Alloy Personal Training studio and runs Business for Unicorns. So why sell now? And what was the process like? We brought him on the pod to find out.

Here’s what he said: 👇

What is Mark Fisher Fitness?

If you’re new to Gym World, Mark founded Mark Fisher Fitness (MFF) in 2012 after not vibing with traditional gym culture. As an NYC actor, he built a niche in the Broadway community and created a space where people could be their most authentic selves.

MFF’s tagline was “serious fitness for ridiculous humans,” and everyone talked about the gym. It was unforgettable because:

• Clients were called ninjas, not members.

• The gym was an Enchanted Ninja Clubhouse of Glory and Dreams.

• Its mascot? A unicorn.

• The decor? Pink, rainbows, tutus, and glitter everywhere.

But beyond the atypical gym branding, MFF became popular for its Snatched in 6 Weeks program—a $1,200 product that ran 5 times a year and would generate nearly $1M annually during peak years. This was Mark’s take on the 6-week challenge.

And while the program was successful for years, it was expensive to run (Mark said it cost over six figures annually for staff, marketing, and space). By the end of last year, he phased it out and shifted his focus to:

• Small group personal training (starting at $43 per session)

• Group classes (starting at $12 per class)

• Customizable memberships (starting at $52 per week)

Selling Mark Fisher Fitness

That brings us to today—after 13 years running one of NYC’s most successful gyms, Mark sold his 7-figure baby for a few reasons:

1. The gym needed a hands-on owner. Mark has lived outside NYC for five years, managing MFF remotely. While remote ownership works for some, MFF’s complex model needed someone there daily.

2. He wanted to focus on other professional interests. Mark is now dedicated to helping gym owners through Business for Unicorns and running an Alloy Personal Training studio with a simpler model.

3. Life has changed. After losing both parents, selling his childhood home, and raising his 2.5-year-old daughter, Mark wants to spend more time with family. Mike Doehla had similar reasons when he sold Stronger U Nutrition.

4. He had the perfect buyer. Steve Holiner (aka Coach Fury) has been part of MFF since 2014. He knows the business and brand inside out, runs his own gym, and was ready to expand with a second location.

The decision was quick (perhaps surprising), but Mark felt it was the right time—and he was lucky the selling process went so smoothly.

Here’s what the process involved:

Finding the right buyer ✅

When selling a gym, most buyers fall into one of three categories:

• A team member

• A client or former client

• A competitor

Since MFF was so unique, Mark started looking internally last summer. Selling to someone who already knew the business and lived the brand made the most sense—and would make for a smoother transition. I agree.

At the same time, a longtime MFF trainer and Business for Unicorns client expressed interest. He already owned a gym, was doing well, and was ready to expand. More importantly, Mark knew his leadership style and had seen firsthand how he scaled his business.

The timing and fit felt right. By November, Mark announced the sale and introduced Steve Holiner as the new owner to the MFF team and members.

Getting a good lawyer ⚖️

A strong legal team is a must when selling (or buying) a gym. Their job is to:

• Think through every possible risk and have a plan

• Protect your interests

• Establish a solid contract

And even though Mark had a good relationship with the new owner—and says they probably could have done a handshake deal—he was surprised by how contentious things got between the legal teams.

But that’s just part of the process. Lawyers are there to protect their client.

Setting the sale price 💰

We know a profitable gym is valued using a multiple of the owner’s annual earnings. So the more earnings you generate, the higher your multiple.

For smaller gyms, that multiple tends to fall between 2x and 4x, depending on factors like:

• Staff → can be worth 1x

• Staff + Systems → can be worth 2x

• Staff + Systems + Members → can be worth 3x

Mark’s gym was profitable, and he was taking a salary. To determine the sale price, he added back as many expenses as possible.

Mark predicts MFF will be even more profitable under new ownership since it’ll run a simpler model with fewer owners (previously, it was Mark and his business partner). And while we don’t know the exact price, he says the gym sold for 2.25x.

TL;DR

After 13 years and $34M in revenue, Mark Fisher sold his gym. Here’s what made the process easier:

• Being ready to step away

• Finding the right buyer

• Having a strong legal team

• Securing a good deal

It’s the end of an era, but the start of something new—for both MFF under its new owner and for Mark as he moves on to his next chapter.

If you want a deep dive into why he sold, read Mark’s blog post here. 👈

As for more insights, be sure to watch or listen to Mark’s full interview on Gym World.

until next week,

j

📣 P.S. If you found this interesting, share it with another gym owner who’d think so too.