Only a few months old, Prism Fitness Group is not only all about functional fitness products and the education to go with them, but is also now a brand-builder for up-and-comers.
Prism (www.prismfitnessgroup.com), a subsidiary of Beacon Athletics (www.beaconathletics.com), recently launched its “brand-accelerator” services to consult new companies to help them bring products to market, according to President Bill Sotis, who began with Beacon and Prism in October 2010.
“We develop products in-house, but we said, ‘Let’s put other products around that core,’” said Sotis, former President of Lifeline USA and past senior vice president at Johnson Health Tech. “The product is however just the tool. It’s really about the content.”
That’s what drives both Prism’s own product development of functional training gear and is also what it looks for in companies it will consider helping. Depending on the level of the brand, services could include everything from helping develop accompanying education or serving as a representative, to helping with marketing for a launch to consulting on financial and legal matters.
“There are a lot of personal trainers who come up with great products,” Sotis said, “but they may not have the skills to develop them or the money to do it.”
When Prism decides to work with a company, the company could pay a flat fee, grant a percentage of sales or even give Prism some equity, among other partnership methods.
“Small- to medium-sized companies looking to explore product sourcing in China, for example, can now turn to Prism and not have to sweat the details themselves,” he says on the website.
“People in the industry trust him,” said the president of one company Prism has worked with, “and they’ll tell you what they think.”
Preferring to remain anonymous until a full launch, the company has been working with Prism to tweak its business plans and to use it as a sounding board.
“I am totally open,” Sotis said, “to seeing what’s new and hot.”
He can be reached at BillS@beaconathletics.com.