Dec 2, 2020
Jim Crowell is the Founder at
JWC Advisory Group, Founder and Investor at Boost Capital, and
former CEO of Opex Fitness. He is a board member of The Brand Q
Method. Jim is a strategist who loves to learn and help others
How did Jim get to where he is now? (1:35)
went to Penn State where he played tennis for
had been an athlete his whole life and loved the idea of training
enjoyed training tennis because it had been his college sport and
he enjoyed going to tournaments and competing.
loved the idea of getting better at things.
a hedge fund trader had taught him how the world works and how
money flows etc.
- Towards the end of that career, Jim felt that
he wanted to be a part of the health and wellness
- Leaving the hedge fund business, Jim opened a
CrossFit gym with a friend of his in Pittsburgh.
did well and opened a second gym. After 4 years Jim sold the
business to his business partner at the time.
moved to Arizona to work with Opex Fitness. He worked himself up to
the role of CEO and helped them build a global coaching education,
a gym licensing business, remote coaching, and one on one
left Opex in 2020 and has been advising and investing typically
around the fitness and wellness area.
loves the idea of being a part of the evolution of fitness because
he believes fitness is a very immature market in many
What does Jim consider to be a mature market?
- Setting COVID aside, consider going to a
have a good idea of what type of restaurant model will
- Technology is being put into restaurants too.
We are seeing this now especially because of
- People are eating from home a lot more but in
terms of successful restaurants, considering COVID lifts and the
vaccine is out, people will want to go back out to
- Restaurants have a fair amount of competition
and the restaurant owners either have competitive advantages or
they have to run extremely efficiently to
- There’s an efficient market in fitness right
now. You are seeing so many new things come out and you are seeing
brand new markets that do not have competition
- A lot
of legacy brands like Equinox have immediately shifted to an online
where people thought there was no competition there is now becoming
are seeing jockeying for who is going to take the lead in the big
believes in the big categories there are always a few that win and
by win he means they get higher margins because they have
the companies who create sustainable competitive advantages that
have the most likelihood of success.
What should an investor be looking at in 2021?
you put investors on your LinkedIn profile, you will get a whole
bunch of stuff coming through to your profile.
of them might be interesting but a lot of it won’t be worth looking
friends like to invest in early but not launch products that have
shown traction and can scale.
are not highly competitive markets unless the product has shown
that it has better traction in a significantly large
- Looking at the technology side, it is where
most investor’s minds are going.
have to differentiate and you have to be simpler and more
you are brick and mortar in terms of gyms, investors are only
looking at you if the price is depressed and they think they can
get a return based on that.
- A lot
of investors are looking to buy into franchise concepts,
corporately owned concepts out of bankruptcy right
- Technology obviously has scale. It is where
people are going.
are opportunities for the investors to get into companies that just
got obliterated by COVID but still have good assets on the
have to know what you want and what your return profile will look
like. If investors aren’t direct experts in the industry they need
to have conversations about what real value and real barriers
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Consulting they offer
you a complete service in Compliance which includes but isn't
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creating systems of excellence conforming to international
standards ensuring product and process safety to training your
people to work in a safe way, assessing how you’re doing, and
helping you perform even better in the future, they are there to
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Connect with Jim:
JWC Consulting: Website
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