Edgard Corona entered the fitness industry with a clear mission: to make high-quality gym facilities accessible to a wider audience. While his initial venture, Bio Ritmo, catered to a premium market, he soon recognized the need for a fitness model that could address affordability without compromising on quality. This realization led to the founding of Smart Fit in 2009, a brand built on the principle of inclusivity.
Smart Fit’s concept was straightforward yet impactful. By prioritizing core fitness services and streamlining operational costs, the company offered memberships at a fraction of the price of traditional gyms. This model made fitness accessible to millions who had previously been excluded due to financial barriers, reshaping the industry across Latin America.
Scaling Across Borders with Consistency
Smart Fit’s growth under Edgard Corona’s leadership has been nothing short of remarkable. From a single location in São Paulo, the brand expanded rapidly across Brazil and into 14 other countries, including Mexico, Colombia, and Peru. By mid-2024, Smart Fit had established over 1,500 locations, making it the largest fitness chain in Latin America.
Key to this growth was the company’s ability to maintain consistency across all its locations. Each gym adhered to the same design and operational standards, ensuring members received a uniform experience regardless of location. This commitment to quality, paired with affordable pricing, allowed Smart Fit to attract a diverse clientele and build a loyal customer base.
Financial Strength and Strategic Investments
Edgard Corona’s strategic vision extended beyond operations to include strong financial planning. Smart Fit secured substantial investments from firms such as GIC and CPPIB, which provided the resources needed to expand its footprint and enhance its offerings. These partnerships played a critical role in the company’s ability to scale efficiently while maintaining financial stability.
The 2021 initial public offering (IPO) on Brazil’s B3 stock exchange marked a significant milestone for Smart Fit. The proceeds from the IPO were reinvested into growth initiatives, including the acquisition of new gym locations and the development of specialized fitness studios. By 2024, the company had achieved annual revenues exceeding R$5 billion, a testament to the success of its business model.
Transforming the Fitness Landscape
Smart Fit’s impact on the fitness industry extends beyond its financial achievements. By making gym memberships affordable, the company has encouraged millions of individuals to prioritize health and wellness. This shift has not only improved access to fitness but also inspired other operators to rethink their own business models.
Edgard Corona’s leadership has been instrumental in driving this transformation. His ability to identify opportunities and execute on a clear vision has positioned Smart Fit as a trailblazer in the industry. By focusing on accessibility and quality, the brand has set a new standard for fitness services across Latin America.