36. KX Pilates
Did you know Pilates was named after a man called Joseph Pilates? Crazy right?
Revenue: $17.4 million
Growth: 110.64%
Founders: Aaron Smith, 35
Head Office: Prahan, VIC
Employees: 12
Industry: Health & Fitness
Website: kx.com.au
In the age of pilates and yoga, Aaron Smith has emerged as a winner.
The entrepreneur founded KX Pilates in 2010 as a franchised take on an increasingly popular way of staying active, creating a $17.4 million business in just eight years, and growing 111% over the last three years.
Fitness is the name of the game for KX Pilates, but beyond that, a franchise relationship built on the idea of partnership has helped the business grow to a network of 50 locations across the country.
It wasn’t always smooth sailing. Smith explains he was actually in debt when the business was founded, having to borrow money from his father to start the first studio in Malvern, Victoria.
Franchising turned out to be his saving grace, allowing the business to expand on the back of a growing brand without being encumbered by high capital costs.
“I realised being a good trainer and being passionate about my business wasn’t the same as being able to run an effective business, and so I set out finding people who I could learn from for things like accounting, marketing and branding,” Smith says.
Having achieved his original ten-year target of 50 studios, as well as opening a location in Jakarta, Indonesia, Smith is confident the business hasn’t hit its peak yet and will continue to build over the coming years.
“We are just about to launch an Innovation Group, which will feature internal KX staff and franchise owners, as well as people who are external to the business,” Smith explains.
“I am hoping this will provide us with a further platform to generate ideas that focus on helping everyone achieve more.”
