“At the end of the day, we look with a holistic vision to enter the fields of a healthy lifestyle, beauty, medical treatments, physical therapy that can now be done remotely, proper nutrition and a space that provides comprehensive solutions beyond gyms,” Friedler explains. “The sports world connects to the lifestyle worlds and there are such models abroad. Lulu Lemon worldwide also combines fitness with health and lifestyle in its activity. Customer data has great commercial value and we can combine it between the clubs.”
A day after the purchase, the founders of Good Pharm already held a meeting with the Minister of Fitness and Rami Levy regarding the company’s future strategy. According to Sandler, “We have the intention of adding classes and training programs for girls, which is a segment that is not treated enough in the industry. We will introduce classes for girls in the afternoon hours and bring the entire world of Pilates to all institutes because today it is only in some institutes.”
In addition to this, Good Pharm plans to launch a beauty treatment room in the institutes, hire nutritionists to accompany the trainees and provide an outsourcing service of plastic treatments. “Botox and hyaluronic acid treatments are given in a room at the institutes by a doctor, but more complex treatments will be outsourced with a body we will partner with. We are conducting negotiations with bodies in the field. In addition to this, we would like to release a series of nutritional supplements and sports accessories from Sher Fitness, which will be sold in gyms and also in the Good Pharm chain.”
According to Sandler and Friedler, in the immediate term the investment in the purchase and restoration of the network and expansion will amount to approximately NIS 10 million. “Our initial goal is to make the business profitable. We have been paying the rent for the branches since April 1, and we are in a round of meetings with the property owners who will come to meet us. In the end, we bring in traffic, and each property owner rents another property either to Good Farm or to Rami Levy.
1 Viewing the gallery
The founders of Good Pharm, from the right: Adam Friedler and Ohad Sandler. “There are such models abroad”
(Photo: Dana Koppel)
“At this stage, we will not open any more branches, maybe in the future. We need to start lifting the network from the beginning, it is not that they lift the switch and all the branches are working. Also the interval between the opening of the branches will last at least ten days and the recruitment of employees and subscribers again. This is a process.”
The purchase of Sher Fitness is added to another surprising purchase made by the two in recent months. In November 2022 they purchased 50% of the basic fashion site Itay Brands and they have development plans there as well. Recently, an Itai Brands pop-up store was opened in the Ramat Aviv mall, which was supposed to operate until April 16 and will operate until May 16. According to Sandler, they are working together with Ramat Aviv Mall to find a location for a permanent store for the fashion brand.
“The pop-up is very successful. We extended it by a month. Following the success, we intend to open a first store for the brand, the ambition is that it will be in the Ramat Aviv mall. This is a shared ambition of us and the mall, and we are in talks with them. In addition, in September we will launch the first winter collection for children. The brand has specialized Until today in women and we started to produce a little basic for men and in the coming months we will also enter for children.
“But the surprise will be next month – we will launch a new brand of non-basic fashion that we will lead with a presenter. We want to go outside the box, with more colorful and flashy colors and fashionable items. In the summer, we will also come out with underwear under Itai Brands.”