Q&A with Jackie Wilson of Nova Studios
CEO
Principal Series:
Nova Fitness is a fitness wearables company that has created the world’s most efficient workout utilizing electrical muscle stimulation. Running high-margin group classes in two flagship NYC locations, Nova allows clients to get the efficacy of a 90-minute traditional workout program in 30 minutes. On the back of their studio’s success, Nova is expanding to ramp up the direct sale
and leasing of its technology to big box gyms, boutique studios, as well as individual trainers. Nova is a truly ubiquitous workout solution that can enhance any fitness routine, regardless of modality. Nova’s long-term vision is to create a digital wearables platform that users can leverage in their homes without the help of trainers. View short video at right, or visit website here:
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Why is the timing right for Nova?
There are two reasons. The first is that new fitness concepts are driving ALL of the growth in the fitness industry. The fitness industry was a $22B Industry in 2013, and is projected to break $43 in 2023. Since 2013, it's the new fitness kids on the block (Peleton, Aaptiv, classpass) driving that growth, while traditional gyms have actually experienced negative growth (-5%). The second is that in the age of shortened attention spans, Nova provides a workout that is 3X more efficient than traditional workouts with none of the injury risk.
What Traction does Nova have to date?
We're proud our traction. We are running classes in partnership with premier NYC lifestyle brands such as Soho House, Y7 Studios, Fithouse, Tone House, Dogpound, etc. This allows us to make money while getting our name out there. This has been one of the factors that has allowed us to drive our CAC down from $100 to $25. The hardware is clearly resonating and we are learning more about our clients as our conversion rates from trial to member have risen from 18% to 40%. Outside the gym, we have just rolled out our B2B model in which sub-distributors buy hardware from us for $250K upfront and repurchase $125K in supplies every quarter. We just signed our first contract, with number two on it's way. We are headed towards explosive growth on all fronts of the business.
Why should we be excited by Nova's long-term upside?
Our first job was to foster a community where people could touch and feel the product to build the brand. That's done, our clients love us and it shows on instagram. Our second job is to create a sales distribution network to take our hardware and our brand nationwide. Once we take that love and familiarity we've built in New York across the country, we'll be ready for our most important job. We will build a digital platform for people to use their Nova suits in the comfort of their own homes, with biometrics to track their growth, and a community akin to Peloton to keep engagement high.
Jackie Wilson of Nova Studios
Jackie has dedicated his life to helping others achieve their fitness goals. For over fifteen years, he has trained alongside and worked with athletes that compete at the highest levels. Jackie is a graduate of Duke University, and the University of Notre Dame Law School, a former All-Conference athlete, as well as former General Counsel at a top sports agency. Not only does Jackie have a unique insight into the fitness space afforded by a lifelong dedication to the industry, but Jackie has the operational chops to scale NOVA into a national powerhouse. Jackie and his team of trainers provide personal training and fitness workshops throughout NYC. Jackie has operated and consulted for residential fitness facilities. His experience includes facility design, construction, operations, leading marketing and client outreach efforts. Contact Jackie: jackie@novastudios.com