Expat's Dh4.4m Ice Bath Biz Share

Nick Blair, a 36-year-old British expatriate, took his decision to buy an ice bath in 2023 and transformed it into a successful multimillion-dirham enterprise called KULA Recovery.

The company, which caters to fitness centers, hotels, and wellness facilities across the UAE, reported revenue of Dh4.4 million and a profit of Dh730,000 in 2024.

With over ten years of experience in the fitness industry, Blair utilized his professional network to turn initial interest in ice baths into a thriving business.

KULA Recovery now serves prominent clients, including Warehouse Gym, Wellfit, Gymnation, luxurious hotels, and top-tier wellness centers.

Blair funded KULA Recovery using profits from his previous business venture, the Dubai Muscle Show, which he sold in 2021 for Dh25.7 million ($7 million).

He invested an initial amount of Dh100,000 in the company but faced logistical challenges due to the weight of ice baths and chillers.

To improve the company's profit margins, he shifted from air freight to sea freight for shipping.

To date, KULA Recovery has completed over 500 orders and achieved profitability by optimizing its logistics and operations.

Notably, about half of the sales are generated from high-end hospitality and wellness sectors.

Blair attributes his success to financial discipline and shares three essential lessons:

1. Revenue is merely vanity, but profit ensures sustainability.
   
   
2. Early financial lessons shape one's mindset.
   
   
3. Diversify to minimize risk.
   
   

Blair’s work ethic stems from early jobs, including washing dishes for Dh15 an hour, and a background in commission-only sales, which instilled resilience and the value of hard work. He also plans to nurture financial literacy in his son, Harry, through small-scale entrepreneurial activities.

To mitigate entrepreneurial risk, Blair maintains a diverse investment portfolio, including S&P 500 and FTSE 100 stocks, tech shares, UK real estate, and two businesses in the UAE.

He aims for stable investments with a target annual return of 7%.

While Blair recognizes past financial errors, such as excessive credit card spending, he advises others to remember that almost everything can be negotiated.

Looking ahead, he remains committed to business expansion while adopting a careful approach to financial management.

Source: gulfnews

The opinions shared in the GymNation blog articles are solely those of the respective authors and may not represent the perspectives of GymNation or any member of the GymNation team.