Most people will sit and wait for their ‘big break’ to just fall into their laps. Unfortunately, the only people who will ever become successful are those that go out and fight for it. So, my question to you is this,
Are you going to sit and wait, or are you going to get up, take action, and create YOUR own success?
Peter Taunton grew up in a middle-class family. He didn’t have a lot of money, but what he had was willpower and determination to create a life of success.
Fast forward 50 years, Peter is now known as a pioneer in the fitness industry. In 2003, he had a vision for Snap Fitness: to create an affordable, 24-7, results-driven gym differentiated from the impersonal, expensive big-box experience.
In 2010, he was named an Ernst and Young “Entrepreneur of the Year.” His companies have also been featured for six years running in such prestigious industry lists as Entrepreneur 500, Inc 5000, Top Global, and Franchise 500.
Today Peter is the founder of Snap Fitness, which franchises in 2,500 locations in 26 countries, and is the CEO of Lift Brands, which consists of 9Round, Farrell’s, YogaFit, STEELE Fitness, and Fitness On Demand.
On this episode of the Rock Your Money, Rock Your Life podcast, Peter and I discuss how he created and scaled Snap Fitness from 1 gym to more than 2,500, the trials and tribulations of being a leader and an entrepreneur, and how the American dream is possible for anyone who wants it bad enough.
What You’ll Learn from this Episode:
- How to create a simple, successful business model l
- The most important principle of success
- Why you will never achieve what you want unless to go and get it
- And much more!
“Success is 10 percent what happens to you and 90 percent how you react to it.”
Topics Covered:
00:00 – Intro to Peter
02:47 – Trials and tribulations of being a leader and an entrepreneur
06:29 – The most important principle of success
09:15 – The creation of Snap Fitness
16:43 – Cashing out of Snap Fitness
19:30 – The creative mind behind opening 2500 fitness centers
24:40 – Acquiring and creating lift brands
28:00 – The discount model – Planet Fitness
29:50 – Is a self-sustaining gym possible?
32:30 – Giving back
36:15 – You have to create your own ‘breaks’
43:45 – Connect with Peter
Key Takeaways
“If you sit around and wait for your break, it will never come. You’ve gotta go get it.” – Peter Taunton
“When you have franchisees, you have to create a playbook that people can follow.” – Peter Taunton
“I’m living proof that the American dream is alive and well. It’s not easy, but it can be done.” – Peter Taunton
“You want to take a gradual exit. You don’t want to ride your business to the crescendo and then ride it down like a toboggan on the other side. Take cash off the table.” – Peter Taunton
“There’s nothing wrong with taking an existing product and making it better. There’s nothing to be ashamed of.” – Peter Taunton
“Anyone who has experienced any level of success will tell you that in times of adversity is when you experience real growth.” – Peter Taunton
