Apparently The Money Team isn’t just a catchy name for his traveling squad; Floyd Mayweather’s team of advisers entrusted with maintaining and expanding his growing empire mean business, and he has enlisted the help of a famous friend, longtime NBA star Joakim Noah, to accelerate his latest venture
Since its launch in July 2018, Mayweather Boxing and Fitness, the eponymous world champ’s boxing/training gym franchise, has been growing quickly, with over 100 franchises currently in development and an even longer waiting list of prospective franchisees. According to the company’s CEO and longtime Mayweather confidant, James Williams, Mayweather Boxing and Fitness is the fastest-growing fitness franchise ever; he proudly explains: “No other fitness franchise has had the ability to immediately begin franchising. Because of the brand awareness of the Mayweather name, we were able to start franchising our first year and get to over 100 units.”
The power of the Mayweather brand can’t be overemphasized; according to Williams, about 70% of the general public is aware of or knows who Floyd Mayweather is, which in turn gives Mayweather Boxing and Fitness a massive competitive advantage when it comes to rapidly scaling. With the ability to reach approximately 44.3 million people with a few button taps via his social media accounts, Mayweather was able to generate so much inbound interest from potential franchisees that the company has spent virtually no money on marketing in that arena. In addition to the power of the Mayweather brand, Williams attributes a significant portion of the franchise’s growth to the fact that the nature of the business itself authentically aligns with Mayweather’s brand in the eyes of the public, in that the training routines that are available to gym members are the same routines and programs that Mayweather himself used to prepare for fights during his boxing career.
Williams, who counsels and assists other athletes and celebrities on new business ventures, believes that authenticity and fit are critical to any athlete building a business that leverage their name or brand, adding, “Consumers can sniff out whether an athlete is genuine or authentic to the brand.” He forecasts that more athletes and celebrities will attempt to replicate the successful blueprint that Mayweather has laid out.
The success of leveraging Mayweather’s name illustrates the power an athlete’s personal brand can lend to an upstart business. After seeing success with this model, Williams, Mayweather and company are seeking to amplify and multiply that by bringing Noah on board as an investor. When asked why Noah specifically made sense as a partner/investor, Williams noted, “Joakim is an example of an athlete who makes the right decisions and is also someone who genuinely believes in our mission and what we’re doing.” Mayweather himself added, “We were all excited for the opportunity for him (Noah) to be part of this journey together with us right from the start.”
“The Floyd Mayweather brand speaks for itself,” said Noah. For the two-time All-Star and former NBA Defensive Player of the Year, the opportunity to get involved with Mayweather Boxing and Fitness was “bigger than money; training is who I am.”
Although he’s still committed to continuing his NBA career, Noah’s investment into Mayweather is part of a broader plan that extends beyond his playing career to give him the financial foundation to continue to make a positive impact with his platform. In addition to working with Mayweather, Noah has also made investments with another athlete-turned-entrepreneur, through Laird Hamilton’s health food company, Laird Superfood. Noah is sticking tight to his philosophy of investing in projects he personally believes in, noting that he was a longtime consumer of Hamilton’s products long before he invested a single dollar. “Laird’s lifestyle basically saved my life,” said Noah. For Noah, these investments are a vehicle to enable him to do more philanthropic work via his Noah’s Arc Foundation, which is dedicated to “providing diverse opportunities for kids to become more aware and conscious of their ability to make a positive impact on themselves and their community.”
“To help others, you need to be right yourself. Making smart investments gives you that foundation and flexibility,” added Noah.
Given the rapid growth and early returns on his investment into Mayweather Boxing and Fitness, it appears as though Noah is well on his way. Hitching your wagon to The Money Team is a good place to start.