Edgard Corona is the renowned CEO of Smartfit. This fitness organization manages almost 500 different gyms. He is also the head of Bio Ritmo. He had little knowledge about the industry when he started, but he still managed to turn it into a profitable business. He previously worked as a chemical engineer with his own chemical lab.
Edgard Corona believes that he ultimately had to do some damage to Bio Ritmo to create Smartfit. This fitness organization has had a dramatic impact on the way people view fitness in countries like Mexico, Peru and Colombia. Edgard Corona also claims that he always possessed the characteristics of a successful entrepreneur.
He managed to create multiple successful businesses while still in college. He then went on to work at his family’s sugar mill and tried to be successful in the gym industry. A skiing accident in 1995 forced him to abandon his position within the company.
He later returned to find that the gym was doing well in an already successful economy. Edgard Corona believed that there were certain design errors that could be improved. The company ultimately ended up losing possession of this gym.
He brought in an American to help him redesign the entire gym from the ground up. He noticed that Planet Fitness had a successful business model that he wanted to replicate. He chose to position the product for low income customers who were looking for an inexpensive gym membership.
There are now more than half a million Latin American residents who use Corona’s gyms. He believes that the company builds value by offering residents a gym experience they believed they could not normally afford. The entrepreneur believes that travelling abroad changed his perspective on how the business could be run. This ultimately made turned it from a failure into a massive success.