Folusho Ogunwale: Cashing out with Chain of Gyms in Nigeria

Regardless of the time and place, there will always be individuals who shake things up. According to legendary entrepreneur Steve Jobs, these people are square pegs in round holes. Without a question and considering his many recent business adventures, Folusho Ogunwale, the CEO and founder of iFitness, is one such peg. His trade and doings are so distinctive in Nigeria that his methods have reached textbooks and are inspiring loads of gyms and wellness centres across the country.

To understand someone like Ogunwale, one must see beyond the for-immediate-profit business model that traditional entrepreneurs are using in Nigeria. When Ogunwale climbed the stage of business investments and operations in Nigeria, he did it to address issues and was thus successful at every turn. Unsurprisingly, his success at iFitness has remained a high bar for those following after him.

Ogunwale started iFitness in 2015 to help Nigerians improve their health via deliberate and coordinated exercise. According to reports, Ogunwale took this matter upon himself after losing a brother to diabetes and heart disease. The first iFitness gym was only 150 square meters in size with as little funding as one can imagine. But things are different now with an anticipated 40 locations in Nigeria and across Africa.

According to recent reports, Ogunwale has his eyes on breaking a record and that is why he has decided to initiate the first cross-border venture in the form of a gym to be situated in Accra, Ghana. And Ogunwale dares to do this because he has dominated the Nigerian market with gyms all over the place.

Ogunwale will undoubtedly climb up in the ranking of young Nigerian wealthy businesspeople in the coming months. Once he fleshes his plans to have iFitness centres in Lagos, Abuja, Port Harcourt, and other major Nigerian cities, he will cash out duly and legally.