The CEO of Bio Ritmo and Smart Fit Group, Edgard Corona, is about implementing new business models that propel companies to success. His first stint as an entrepreneur was in 1974 when he was a student in Fundação Armando Álvares Penteado (FAAP). While pursuing a chemical engineering course, Corona founded two ventures and later sold them for a profit.
After his college education, Edgard Corona joined Açucareira Corona, a sugar mill operated by the Corona family. At the time, the mill’s financial performance was poor. Corona served as the COO of the company and oversaw its return to competitiveness.
During his time as a COO, Corona also busied himself with managing a family-owned gym. He found himself exercising more often after an injury required that he undergoes physical therapy. In the mid-1990s, he left Açucareira Corona to run the first Bio Ritmo gymnasium.
Similar to Edgard Corona’s other businesses, Bio Ritmo required a new business model to start generating cash flows. It took nearly eight years for Corona to steer Bio Ritmo to profitability. After observing the American gym business practices and tailoring them to fit the Brazilian market, he got a breakthrough.
However, profitability was not the destination for Edgard Corona. He wanted to capture the Latin American market. Thus, he incorporated technology in Bio Ritmo’s business model and launched Smart Fit. The initiative allowed over half a million people to access gyms at the lowest prices in the market. Nine years after its inception, Smart Fit enabled Bio Ritmo to expand to nearly 500 centers that generated R$1 billion annually.
Even after the financial difficulties brought by the coronavirus, Bio Ritmo and Smart Fit Group continued to flourish under Edgard Corona’s leadership. The company set to open 170 gymnasiums in 2020, down from a planned 238 facilities. As 2021 unfolds and economic recovery dawns, Bio Ritmo continues to eye more significant growth.
For details: www.conarec.com.br/tag/edgard-corona/