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28 Year Old Billionaire Reveals How He Built Gymshark

Valuetainment

Valuetainment Episodes

Business

4.81.7K Ratings

🗓️ 2 April 2021

⏱️ 33 minutes

🧾️ Download transcript

Summary

Patrick Bet-David has a virtual sit-down with CPO and founder of Gymshark Ben Francis. In this interview they talk about how he started Gymshark, the growth of the brand and why he thinks clothing brands are centered around a community model. Watch the interview here: https://youtu.be/LKc5yBDH-9Y

Transcript

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0:00.0

How do people start off and they do well for themselves?

0:05.1

Very few get valued at one and a half billion dollars.

0:08.9

We're eight years old. We're like I said, half a billion dollars in revenue.

0:14.5

So Jim Sharp was just a cool domain that I found online. I bought it off GoDaddy. It was about

0:18.6

£3.50. It was, you know, the whole startup cost £20.30. Jim Sharp's story. People assume that

0:25.5

it was like this one thing that I've tried and it went incredibly well. 13, 14 years old and

0:30.6

starting Jim Sharp at 19. I started like six or seven, maybe even more than that, different

0:35.2

businesses and websites, all of which which failed miserably. When was it when you said,

0:40.6

I think this could really have some legs and turn it to a real business.

0:44.4

The Body Power Expo. Now before the event, we were selling on average two to three

0:48.8

and a pound a day worth of product. We turned all the website off and we thought,

0:52.3

well, we'll kick it back off Monday when the event's finished. The first half an hour after we

0:56.7

turned the website back on, we sold £30,000 of product. Now we're on to something special.

1:02.8

If we know anything about the younger generation, right, they want to buy a brand that really

1:06.0

resonates with their core values. And I think Jim Sharp does that.

1:12.6

To all the young entrepreneurs out there, if you need an inspiration, today's story is going to

1:16.0

do it for you. My guest today, Ben Francis, the founder of Jim Sharp, which you probably heard of

1:20.4

Jim Sharp. It's a brand predominantly big in Europe, but he's bringing it to North American.

1:25.4

If you go to the gym nowadays, you'll see the brand. I think in August, the company was valued

1:30.2

around $1.45 billion. And he is the 70% owner of the company, making him in a billion dollar mark

1:38.4

at 28 years old. And he started it at 19 years old. With that being said, Ben Francis, thank you so

1:43.7

much for being a guest on the entertainment. Thanks, Patrick. Thanks for having me. I'm looking forward

...

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