#101 Peter Taunton

founder Snap Fitness, philanthropist

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Peter Taunton is a pioneer in the fitness and wellness 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. Today there are Snap Fitness franchises in 6,000 locations in 26 countries. Also the Chairman of Lift Brands which serves 165 million workouts and counting.

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.

Peter talks to Ed Andrew about his life as entrepreneur, scaling using systems and process, philanthropy and being fearless.  How he was the loneliest he has ever been while also being worth over $100m. 

Talking Points

  • his origin story "if you want something go get it, it is not going to come to you" (5)

 

  • being a professional racquetball player and his first club

 

  • the art of bartering (9)

 

  • working with his father who never put himself above any job, "I would never do anything that I would not do myself" - 9.30

 

  • launching CBD oil company - surround self with experts in the space, "if you think you are the smartest people in the run you chances of success are going to be very minimal" (14)

 

  • "trust fund babies don’t know how to work, do something to be proud of" 

 

  • "when you start with nothing you know what the bottom looks like, fear is a dream killer" - execution is where all the hard work is

 

  • Steve Jobs, as entrepreneurs we have to be half crazy, costs is marriage, time wth friends, entrepreneurial journey is not for the faint of heart, its is not for everyone, need amazing people who work with you (19)

 

  • discussing the 30 people on his list who have helped him the most. It is the little things that you say when no-one is watching - character cannot be self professed - character means you are a person of integrity (22)

 

  • don’t lose yourself in the process of entrepreneurship - asking himself "who have you become, you should be embarrassed" (24) 

 

  • money is not happiness

 

  • discussing how do you want to show up in life and "taking the hill" (31)

 

  • PTSD and mental health - (34)

 

  • discussing franchises - "make sure the product is validated, royalty structure is fair" - bring consistency to brands, if you want to grow your franchise into 1000+ locations top 1% of any franchise everything buttoned down (37)

  • discussing the wellness space day, community and culture within 4 walls, consumer is always right, give them solutions share knowledge to help people get an easier path, make sure you share the knowledge of the hardship as well (41)

 

  • the only things that I do now I do from my heart, having his own 3 day musical festival, being in Serengeti, get disconnected (50)

 

  • the art of pivoting starting again with Snap Fitness, having a tiger by the tail, from the owner of Starbucks - unit level economics, building a club every day, 377 stores in one year 

 

  • systems and processes which are scalable (56)

 

  • CBD oil helps him sleep better (55)

 

  • "you don’t have to worry about an exit stagey until you are winning" (57)

 

  • discussing philanthropy - money does not make the man, don’t mistake kindness for weakness, I get more of out of giving than they do, it is my own therapy (61)

 

  • chasing money and it was not until I caught it that it was anti climatic, "thank God I could find myself at the end of the journey" 

To contact Peter click on the following social links

  • Instagram
  • LinkedIn - Black Circle

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Ed Andrew is the host of Human Impact. Initially a lawyer in London Ed has for the past 20 years been a global entrepreneur. He battled prostate cancer at 42 and is now one of the world's leading career coaches and life strategists helping people learn how to thrive at home and work. 

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