Our mission is to set the most successful personal trainers up for a lifetime of sustainable success.
This includes allowing the top personal trainers to be a part of Maverick's growth by giving them the opportunity to earn ownership in Maverick Community Inc.
The more trainers use Maverick's facilities, the more ownership they can earn. It's that simple.
"We're focused on long-term success and retaining trainers for the long haul. To encourage this behavior, all trainers have the opportunity to share in the ownership of the company based on their contributions to our success. Excited to grow together!"
Our vision is to become increasingly trainer owned as Maverick grows into a network of gym facilities across the world.
The trainers that train the most sessions at Maverick have the ability to earn ownership in Maverick Community Inc., based on high engagement and continuous usage.
1. High engagement - this means that you average 30 training sessions per week.
2. Continuous usage - means that you consistently use Maverick's facilities for two years. Once the two year cliff passes, you'll receive your vested ownership for the last two years and keep earning for every further session you train.
Ownership means we all share in the financial upside if the Maverick platform is successful.
If one-day Maverick is the 'WeWork for fitness,' we'll have built a very successful business - and that success will be thanks to the trainer community. Because of that, we find it only fair that trainers share in our success.
The type of ownership we share is legally called Restricted Stock Units (RSU). That means if there is a liquidity event (IPO, acquisition, or buyback), you are entitled to a cash payout. It's how many large companies share with employees.
Every month that you earn more ownership, you will receive it in digital form (tokens) directly to your email address.
We're obsessed with keeping our customer, the trainer, happy and we'll do whatever it takes to create an environment where trainers can thrive while sharing in the success of Maverick.
Our mission to 1M sessions will be successful if we can keep trainers happy for an average of 10+ years.
Ownership sharing starts as soon as trainers use our space.
We'll ask for feedback and improve the ownership structure every month.
We'll review feedback and iterate on the model to ensure for fairness and proper incentives.
We'll add additional ownership rewards as business grows.
We're inspired by the power of the individual and the natural instinct to want to be a part of something bigger. We believe sharing ownership is the right thing to do as it aligns us towards one common goal: to build the best facilities for trainers so they can enjoy long-term success.
As the company expands, the value of everyone's ownership will increase. Trainers help us grow the company and it's valuation, so it only feels natural to share the upside with them.
Our goal is to build a network of personal training gyms around the world to support the most successful trainers. There is a need for hundreds of Maverick facilities all over the globe, and we plan to grow via the franchise model. We need ~67 locations to achieve a $100M valuation. The key to our growth will be attracting the most successful trainers to join and stay at Maverick. We'll do this by providing beautiful facilities, top high-tech equipment, and a structure that allows trainers to build a long-term sustainable future.
Trainers earn ownership by using Maverick's facilities to train clients. The trainers that train the most sessions at Maverick have the ability to earn the most ownership in Maverick Community Inc.
All trainers have the ability to participate in earning ownership but there are two criteria to qualify:
1. High engagement: you must average 30 training sessions at Maverick per week.
2. Continuous usage: you must consistently use Maverick's facilities for two years. Once the two-year cliff passes, you'll receive your vested ownership for the last two years and keep earning for every future session you train. If you decide to leave after two years, you'll keep your ownership, but it will be diluted over time as other trainers use the facility and earn more ownership tokens.
Tokens are just a name for a digital representation of an asset. We're using tokens as they are easier to distribute than other forms of ownership. For example, setting up Employee Share Ownership Programs (ESOPs), revenue shares, or royalty licences are all complex and expensive. Tokens let us easily share what we want, when we want, how much we want, and with much more granular control. Tokens let us assign ownership based on the number of sessions trainers complete at our facilities.
Trainers have nothing to report and no tax responsibility until Maverick either goes public or sells the business. At that point in time, trainers would pay income tax on their gains. We encourage everyone to seek their own tax and legal advice, if necessary, and feel free to contact us to ask questions and learn more.
Please note this is not legal or tax advice, and you should seek your own tax advice if necessary.
Our tokens are directly tied to Maverick's share price which will be periodically set by Maverick. Price per token = share price. The only ways to cash out are through an IPO (Maverick going public) or an acquisition of the company. Our shared ownership structure ensures that the top trainers who helped us grow are able to share in the proceeds in case of a large exit (IPO or acquisition).
Most likely, yes, as no one has ever done something like this before in the fitness space and we have a lot to learn. Please keep in mind that this is just the starting point of a long relationship together. We will learn together as we go, and adjust and expand the program based on what works for our shared businesses.