Anne Mahlum, the founder and former CEO of Solidcore, transformed a mere $175,000 in personal savings into a nationwide Pilates fitness chain. In just a decade, she sold the company for $88.4 million to Kohlberg & Company. This impressive feat comes despite the staggering statistic that 81% of fitness studios fail in their first year due to fierce competition and a lack of funding. Prior to her success with Solidcore, Mahlum founded a nonprofit aimed at helping homeless individuals find jobs and housing, which laid the groundwork for her entrepreneurial journey.
Her foray into fitness began after an eye-opening Pilates session during a visit to Los Angeles. Capitalizing on the untapped Pilates market, she dedicated herself to launching Solidcore, investing her entire life savings in the venture. Through strategic marketing and a focus on community engagement, she built a loyal customer base from day one. Despite navigating challenges like a competitive fitness landscape and the COVID-19 pandemic, Mahlum's commitment and innovative approach allowed her to expand to 27 locations. As a woman entrepreneur, she faced unique obstacles but viewed them as opportunities that propelled her towards success.