How I Turned $175K Into A Pilates Company - And Sold It For $88 Million | Founder Effect
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- Опубликовано: 24 ноя 2023
- Anne Mahlum navigated naysayers, legal challenges and a personal reckoning to build boutique fitness chain Solidcore from scratch - and sell it for $88 million.
Produced by: Ernestine Siu
Supervising Producer: Jessica Leibowitz
Camera: Tasia Jensen
Editor: Marisa Forziati
Animators: Gene Kim, Elham Ataeiazar
Reporter: Megan Sauer
Additional Footage: Anne Mahlum, Solidcore, Getty Images
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How I Turned $175K Into A Pilates Company - And Sold It For $88 Million | Founder Effect
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The fact she gave a bonus to her employees when she sold makes her a great boss
It’s called retention, it’s common
She went on a mission with a plan, navigated the hurdles, and ended the journey her way. Fantastic
Luck had way more to do with it than you think
I really respect the fact that she gave some of her proceeds to her dedicated employees and made sure her COO was promoted to CEO as part of exit deal. This woman will continue to build success because she made sure others that help her got what they want which in turn yielded her $88M for selling her share's
that's so good! She wasn't so focused on herself, she was focused on the people around her
Amazing story. I'm inspired, especially by opening 7 locations in a year. The leases, the buildout, and the staff. I can imagine how difficult that was.
She sold the company quite wisely, I noticed that the market was crowded with studio fitness in every city.
I love that she didn't give the typical answer of "I never imagined it would get this big." She's like "Yeah I knew. I've been driving the bus this whole time!"
What a true leader with kindness and empathy looks like. Her perspective was so inspirational and of course what was achieved. Thank you Anne for inspiring me to fight for my dreams.🥰🥰🙏🏽
Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
Having an investment adviser is the best way to go about the stock market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly and I made over $800K within a short time
Jenny Pamogas Canaya is my portfolio-coach, I found her on Bloomberg where she was featured, I looked up her name on the internet. Fortunately I came across her site and reached out to her, you can verify her yourself.
SCAM ALERT!
I have followed Anne for ever LOL she is amazing the fact that she gave money to them was not surprising to me that is her nature so inspired!
“That’s the test of a true entrepreneur - to build something that can run without them and isn’t about them”
I agree with the former part, but I don’t necessarily agree with the latter. Nowadays, brands are built around founders and it actually does more harm than good. Think about big influencer brands like Feastables, Prime, and Kylie Cosmetics. Sure these can be the exception of celebrities building brands, but for the average Joe and Jane out there, being public about what you’re building can serve you very well too. Think about it…people want to see the behind the scenes, people want to see your struggles. With building a business, that’s all the storytelling and more. She has built this starting in 2013 so perhaps the mindset is different, but
in 2023 and beyond, more and more brands will have a significant advantage if they’re centered around founders
Solid core is no joke. Did 1 workout and my abs were sore for days
That is an inspirational woman with incredible persistence
I needed this. Such a powerful story.
The $175K surprised me, but non-profits have staff, payroll, and numerous expenses. I did some research, so the viewers could understand.
In 2012, during her last year as the President of the Non-Profit, her compensation was less than 5% of the total revenue.
Gross Receipts were $4,981,439, and her compensation (W-2 + Other Comp) for that year was $220,704.
This is fair for the amount they brought in, especially since she has more than 10x the non-profit's revenue in 4 years since their first return. In 2008, total receipts were $453,834.
Well done to her and her success with Solidcore!
Tax benefits and other benefits created opportu ity
Whats the meaning of (w-2+comp ) can you explain details please.....?
@@mokhosh6990There’s a line to show additional comp. It looks like reimbursement.
health insurance, 401k match, and other benefits@@mokhosh6990
It was smart that she got out for a profit. This will just be one more of a long line of fitness companies that get their moment and then just fade. Humans in this country always seem to be looking for the next shiny ball when it comes to exercise.
Literally lol
that's why she sold out. Just like the F45 founders😂
Loved learning about how solidcore came to be! Anne is so inspiration. Super excited for the expansion to Northern California!!!
Solidcore has been by far the toughest workout class I’ve ever taken. I almost passed out…it was great.
Well done Anne. Another great American success story. Top job.
This is all the mentorship you need in business - no paid mentorship, courses etcetera nonsense.
Just do it 👌🏻
This is amazing, you can learn from real entrepreneurs rather than get rich gurus who sell courses.
She is very impressive. Great story. Thank you for sharing :)
Thank you. How inspiring
Very inspirational
Wow, would have loved to have worked for this company, how cool.
Love this so inspiring.
Many greatings from Germany😊 I like to watch every video from you. You are a top hairstylist. And I used your keratin produkts, they are great.😊
Amazing story!
Now that's a BUSINESSWOMEN 👌
So inspired.
She looks a bit like Pink. lol
Not purple?
They could definitely be cousins lol
She made it look so easy. She is an inspiration
Anne should get with a fitness designer to create clothes, food and skin care products.
Dang, thanks for all of this info! Always interesting to see how things work.
And that's why I love soildcore it is an escape. I don't think about anything else when I'm in the class just about the class itself. and I feel great after.
This was an inspirational story. Hopefully, it's not lonely at the top.
So inspiring
Yesss you go girl, what a hustler
Good for you well done, amazing achievement
I love her attitude
Wow! What an incredible human being. Now I’m going to give Solid Core a try!
Where did she sold the stocks ???? @CNBC
Impressive woman!
Inspiring
Im a bit lost SLT was a brand and it was based on Lagree the studio who patented the lagree method there is a brand was a brand and this is a very sinilar look of that brand.
good personality
Wow!
That’s amazing 175k and made 88 plus millions insane I love it and she’s beautiful and went thru struggle looking at her
U would think she came from privileged but she went thru same things as me
One thing i dont understand about present businesse is that people build them and exit after 4 5 years. If they cared, wouldnt they stay??😅
That’s how you do it
Unfortunately it’s geared towards a certain demographic… in my state each location is in an affluent area
it first I thought this was P!nk.
Few ideas are original. She just rebranded someone else's fitness concept.
She sure did 👏🏾
She was a 'runner'? What's that? In that she made plenty of money doing that.
💯
So she profited $175’000 from her non-profit 🤔
Non-profit does not mean people work for free.
People do in fact make money at nonprofits 😂
That’s where our tax dollars are going. Think about all the non profits that are supposed to benefit homeless
Savings buddy...alot more than that
Mannnnn. Internet trolls really be saying ANYTHING they’ve read on the internet 😂
Just save $175,000, bro.
i'll be surprised you could even save $1000 with that attitude
🤢
why the fake lashes? You would look so much more beautiful without them
Won’t survive! Just a fad. You all will be on to the next tik tok sooner than later. Quick money grab nonetheless!
Everyone of these episodes with CNBC has a political far left lean sprinkled on top. 🥴
She's really intelligent. Listen to her eloquence!