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Tampa Bay Runner-Up 3
Geoffrey Dyer
President, Lifestyle Family Fitness Inc.
"I love coming to work," Geoffrey Dyer says. "I think you have to have that. There's an excitement that permeates through the whole organization."
Small wonder that the 55-year-old Australian native is pumped up. Lifestyle Family Fitness Inc., a St. Petersburg-based health club operator with 36 facilities in Florida and Ohio, grew revenue by more than 50% last year.
Dyer says he owes his entrepreneurial spirit to his late father, who brought him to America on a global tour. "He was a risk-taker," Dyer says of his dad. "It runs in my family. I never felt uncomfortable taking risks."
After working at a Clearwater gym during the 1970s, Dyer founded Lifestyle Family Fitness in 1982 by converting a Lakeland dance studio into workout space.
"I'm surrounded by people who turn my weaknesses into strengths," Dyer says in his Aussie accent. "We keep our ear to the ground. When we stop listening to what is happening on the front lines, we're a weaker company."
With 12 more clubs scheduled to open this year, Dyer says it is tougher to find economical locations than when he started. But he is optimistic that he can pick up the leases for an abandoned Winn-Dixie supermarket or two on the cheap.
A bigger fear is parting with key employees. "I don't lose a lot of sleep," Dyer says, "but that's what keeps me up when I do."
Lifestyle Family Fitness has received two infusions of growth capital since 2000. Quantum Capital Partners put in more than $6 million in 2000 and joined two other local investment groups to come up with an additional $8 million two years ago.
Dyer values the financial experience that the managers of these funds have brought to the Lifestyle Family Fitness board. "You're shortening the learning curve," he says. "I'm great with people and with marketing. I'm not the best finance guy."
- Francis X. Gilpin
Revenues 2003: $27.15 million 2004: $36.45 million 2005: $55.32 million
(34% increase) (52% increase)
Average annual growth: 43%
EMPLOYEES 2004: 1,325 2005: 1,767 2006: 1,750
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