Dave Colina’s startup could have been severely hurt by the pandemic. His company makes the sports recovery drink O2, and prior to COVID-19, half of its business came from gyms. But once lockdowns began, gyms were closed and athletes were stuck at home. Colina worried for his future but decided to take a gamble: He found unique ways to financially support those closed gyms, even as he ran tight on cash. “We felt that as long as we did the right thing to help our gym owners, then chances were it would come back to us in the end,” he says. He was right. His direct-to-consumer sales are tracking to be 10 times higher than last year’s, and his entire business is on pace to grow five times. How? He explains.
Gyms are a big part of your business, but how could you help them?
We’re carried in independently owned gyms— CrossFit, gyms, yoga studios, places that aren’t backed by tons of cash. When they shut down, we looked at creating a program to effectively allow them to share in the financial upside of purchases of O2, knowing that their members would usually be buying from them instead of us.
This story is from the September 2020 edition of Entrepreneur magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the September 2020 edition of Entrepreneur magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
THE SUBMERGED ADVENTURES
Spearheading GetVantage, one of the leading alternate financing companies in the country, Bhavik Vasa knows that sometimes entrepreneurial journey can get tough and stressful, but he has his own way of clearing his mind -- a few feet underwater.
Robust Charging Infra Key To India's EV30@30 Ambition
WHILE GOVERNMENT AIMS TO HAVE 30% OF 2030 CAR SALES AS EVS IN THE COUNTRY, THE VISION SEEMS UNATTAINABLE WITH JUST OVER 12,000 PUBLIC CHARGING STATIONS IN THE COUNTRY AT PRESENT.
OWNING A SLICE OF PROPERTY
Real estate is a critical component of one's portfolio as it provides income, capital appreciation, inflation protection, and diversification.
THE FUTURE OF FINTECH
It's all about setting the house in order
ETCHING SEMICON DREAMS
Historically concentrated in regions like the US, East Asia, and Europe, there's a rising interest in expanding semiconductor assembly and packaging capabilities to emerging markets like India.\"
6 Lessons I Learnt In My First Startup Venture
EVEN THOUGH YOU PICK A BIG MARKET, IT’S IMPORTANT TO PICK A SMALL SEGMENT OF IT TO FOCUS ON FIRST AND UTTERLY DOMINATE BEFORE YOU SLOWLY EXPAND.
How AI and ML are revolutionising healthcare industry
Al ALGORITHMS CAN NOW ANALYZE VAST AMOUNTS OF BIOLOGICAL DATA TO IDENTIFY POTENTIAL DRUG CANDIDATES, PREDICT THEIR EFFICACY, AND OPTIMIZE DRUG DISCOVERY PROCESSES.
5 Lessons I Learnt As An Entrepreneur Over The Last Decade
TODAY, WE ARE A PROFITABLE BUSINESS WITH 2.5 TIMES OF OVER PRECOVID BUSINESS VOLUMES.
Revolutionizing the two-wheeler industry with technology
TO CATER TO THE INCREASING DEMAND FOR TWOWHEELERS, THE INDUSTRY IS CONTINUOUSLY EMBRACING THE LATEST TECHNOLOGIES TO ENHANCE EFFICIENCY, PRODUCTIVITY, AND SUSTAINABILITY.
Who's Stealing Your Time?
Do you have less time for the things you love? You might be blaming the wrong people.