21. STRONG Pilates
Michael Ramsey and Mark Armstrong sold their six fitness studios to establish STRONG Pilates in 2019. See their Smart50 rank.
Revenue: $36.7 million
Growth: 71%
Founders: Michael Ramsey, Mark Armstrong
Head office: Elwood, VIC
Year founded: 2019
Employees: 13
Industry: Fitness
Website: strongpilates.com.au
How STRONG Pilates started
Not many business stories begin with a broken ankle. But when Michael Ramsey was recovering from such a break in 2018, he discovered a passion for Pilates – but felt it was lacking intensity. Discovering the Rowformer machine on Instagram, he had the idea to combine Pilates with cardio training. A successful F45 franchise owner, Ramsey and F45 partner Mark Armstrong sold their six fitness studios to acquire exclusive global distribution rights to the Rowformer and Bikeformer machines, establishing STRONG Pilates in 2019.
Growth
In five years, the business has grown from its flagship Melbourne studio to more than 76 across nine countries, with 100 studio sites confirmed in the USA following the opening of its first studio in San Antonio, Texas. Along with this growth is an expanded offering of services, such as a ’recovery’ studio in select venues, featuring infrared saunas, cold plunges and compression therapy. STRONG Pilates exceeded $35 million in total annual revenue in the last financial year, an 184% increase in gross revenue across its network in the past year alone.
Where to next
Continued global expansion, particularly into the United States, is the focus. STRONG has established its first international headquarters in Los Angeles, with studios opening in Texas, Florida and New York. All in all, there are 150 new studios in the pipeline, including in countries such as the US, Japan, South Korea, Malaysia, Dubai and Bahrain. The company’s goal is a worldwide network of highly successful studios, making STRONG Pilates an integral, positive part of people’s daily lives.
