The future of the boutique fitness industry

Akin Akman - AARMY Co-Founder, joined Yahoo Finance to discuss the future of the boutique fitness industry.

Video Transcript

SEANA SMITH: The pandemic has had a massive impact on the fitness industry. Many of these boutique fitness studios have had to shift their strategy as a result over the past year. We want to bring in Akin Akman. He's the co-founder of AARMY and, Akin, you have-- it's been extremely tough for your industry over the past year but there's no end in sight. There's so much uncertainty at this point. And I understand that you have successfully reinvented AARMY for a remote fitness world. How were you able to pivot your strategy and navigate your business during this very uncertain time?

AKIN AKMAN: Well, we actually were supposed to always be digital. That's why I built AARMY. But my career, I was-- I had a very big, you know, in person following as well. So I just had to get to the digital part quicker. So when the shutdown happened me and my team, we shifted immediately. We closed on a Friday, on a Saturday morning we were on Instagram doing live programming. We did that for 150 days for free and then we launched our own app. And we still are using different platforms like Zoom to fill our in studio live offering basically until we have our own live on our platform.

ADAM SHAPIRO: We have an executive here at Verizon Media Group who swears by your program. I'm curious, what's the profile of the people who are following and signing up?

AKIN AKMAN: Well, it's actually a wide range of people. We have, I mean, even in person, we had you know, like a high school student or even someone younger, like a middle school student, to all the way up to like an 80-year-old. And they're all doing the same thing. And someone that's 80 years old is actually beating-- not beating, but like doing better than sometimes the rest of the people. So it's a big, big range. We have pro athletes to you know, to a regular person that maybe didn't identify as an athlete growing up and now they do, so.

SEANA SMITH: You know, Akin, we were talking about your classes here before the show and I was saying, I have to get in a little bit better shape I think before attempting one of these after I watched some--

AKIN AKMAN: Oh, no.

SEANA SMITH: --of your videos on Instagram.

AKIN AKMAN: You got to do it.

SEANA SMITH: Akin, when you take-- I will I'll try it. I'll try it eventually. But when you take a look at what you think the fitness world is going to look like post COVID, is it going to be more of this hybrid approach where a lot of these fitness studios, a lot of these boutique studios are offering online classes as well as the in-person classes?

AKIN AKMAN: For sure. I think for the way that I built the method, What I believe in as an athlete too, I believe in showing up and really making it your everything. So that you can actually grow and be productive. So I think a lot of people are going to keep the digital and come in person and they just have more access now and they can do it at their own time I think it's really going to feed their growth.

And what we do at AARMY is really through mastery and movement, we unlock your mind. So I've always, I've grown up as an athlete but I also before I went into the group fitness world, I trained top juniors and top pros at an academy where that was people's lives to become a pro athlete. But I think everyone has a different championship and what we do through physicality and mastery and movement is we get you prepared for that. So you build habits and rituals that feed your successes, whether it be physical, mental, or emotional.

ADAM SHAPIRO: Hey, real quick, any chance for you to synergy like with an Equinox or with a Peloton to grow even faster?

AKIN AKMAN: So, sorry what was that? If you can ask me again?

ADAM SHAPIRO: Would you ever team up with a gym, a nationwide gym chain or with like a Pelaton to grow faster?

AKIN AKMAN: I mean, if someone came and offered, I would definitely look at the offer but you never know.

ADAM SHAPIRO: Right answer.

SEANA SMITH: Akin Akman, great to have you on the show. Co-founder of AARMY. We wish you all the best. Maybe we'll see you either virtually or in the studio.

AKIN AKMAN: Thank you.

SEANA SMITH: In a couple of months. Thanks for joining us.

AKIN AKMAN: Hey, you're in the AARMY now. You've got to show up.

SEANA SMITH: We are. I know, after watching those videos I think you sold me. So I'll try it. I'm promising you now I will try it eventually.