Cosgrove Partners | Hoffacker Fitness
Cosgrove Partners (CP) is a management consulting firm dedicated to helping business leaders to pursue facts, accomplish objectives and create sustainable results. Founded in 2001, CP has assisted more than 2,000 management and sales professionals and more than 100 companies achieve higher levels of performance.
consulting, management consulting, sales training, executive coaching, marketing, channel strategy, succession planning, branding, technology
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title

Financial Performance

 

Hoffacker Fitness

Category: Develop, Grow, Health and Fitness, Improve, Lead

SITUATION

With growing sales but declining profits, Hoffacker Health and Fitness retained Cosgrove Partners to develop a profitability plan and management structure.

The initiative included:

  • Development of a new pricing model
  • Creation of several new product offerings
  • Updated compensation structure
  • New marketing approach

COSGROVE PARTNERS ACTION

During the initial 4-week engagement, CP developed a new comprehensive business model, growth strategy and organizational structure.  In addition, CP made an equity investment in the company allowing the management team the flexibility in implement the model.

OUTCOME

The company experienced an average of 13% CAGR for the following 5 years and earning improvement of more than 800%.  The company currently operates 3 additional locations and produces at above 25% EBITDA.