Known for being brash and outspoken, Greg Glassman, founder and sole owner of CrossFit, Inc., is a self-made billionaire

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Known for being brash and outspoken, Greg Glassman, founder and
sole owner of CrossFit, Inc., is a self-made billionaire. Based on
his unique fitness training philosophy, Glassman started the
company in 2000 and has created one of the fastest-growing, most
successful fitness businesses in the industry.
CrossFit gyms, known as “boxes,” have spread throughout the
world through an affiliate program. Unlike other gym franchises
like LA Fitness, Planet Fitness, and Anytime Fitness, CrossFit
affiliates are extremely affordable at a cost of just $3,000 a year
(plus other expenses for the facility and equipment), and the only
other requirement is a brief training seminar to become certified
as a Level 1 instructor. Because Glassman is a big believer in
freewill (he refers to himself as a “rabid libertarian”), he allows
affiliate owners to operate their boxes on their own terms, a
practice which some describe as a troubling lack of oversight.
In addition to the revenues from affiliates’ fees, CrossFit,
Inc., also earns income by providing insurance to affiliates. These
gyms require unique insurance policies generally not available from
more traditional insurance providers, so CrossFit’s RRG (Risk
Retention Group) covers CrossFit affiliates in a specialized way. A
third revenue stream is the CrossFit Training Certification
Programs.
CrossFit devotees are known for their near-obsessive dedication
to Glassman’s method of fitness training, which has now become a
sport in itself. Thanks to these CrossFit fans’ in-person and
online word-of-mouth advertising, the CrossFit brand has spread
like wildfire. Glassman himself has also used technology to his
advantage by creating a website and blog that provide a wealth of
free resources for the CrossFit community.
For fans of CrossFit, the annual CrossFit Games have become a
huge event, attracting hundreds of thousands of participants. Since
2007, CrossFit has been hosting this yearly competition where
CrossFit athletes compete for cash prizes and the title of “Fittest
on Earth.” Reebok is now the official sponsor of the games, and as
such, it is providing an increasing amount of money for the prizes.
ESPN provides valuable media coverage.
In spite of a multitude of competitors, serious criticism from
industry experts about the safety and efficacy of Glassman’s
methods, and an apparent lack of a formal business plan, CrossFit,
Inc., continues to be a rising star in the fitness industry.
Identify threats and opportunities in CrossFit’s
external environment within at least 3 of the 7 segments of
the external environment. Which of these threats might cause
you the greatest concern if you were an affiliate
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