Wall Street saw a healthy amount of fitness IPOs this past summer with Fitbit (FIT) in June and Planet Fitness (PLNT) in August. Another company being closely watched is SoulCycle, which expected to debut later this year.
“People are always looking for ways to lose weight, to stay healthy and to enhance their self-esteem,” said Jillian Michaels, a celebrity health-and-wellness expert and the host of a new reality show, “Sweat Inc." on Spike TV, which is owned by Viacom Media Networks (VIA). The trend of fitness IPOs is “just going to continue to grow,” she added.
On Monday, media mogul Oprah Winfrey sent Weight Watchers International (WTW) stock soaring more than 100% after announcing a 10% stake in the company. She will also join the board of the weight-management company.
According to Spike’s “Sweat, Inc.,” the fitness business is a multi-billion dollar industry. Michaels has earned her share, building her own empire, which is valued at an estimated $100 million.
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On “Sweat, Inc.,” Michaels and two other health and wellness experts are in search for the next big fitness entrepreneur, who must develop his or her own groundbreaking workout brand to win. “It's a combination of charisma, innovation, fun, [and] effectiveness, but [the] business plan needs to be rock solid,” said Michaels.
She admits that being fit in both mind and body can be challenging. “I wasn't really a businesswoman; I was a fitness person. And I got a business partner,” said Michaels.
Her best advice to the next upcoming fitness entrepreneur is, “Know your weaknesses. Don't be afraid to ask for help and recruit that help where people are strong and you're not. That's critical.”
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