Adam Torres and James Richey discuss the Las Vegas Investor Conference.
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Show Notes:
Listen to the Las Vegas Investor Conference coverage. In this episode, Adam Torres interviews James Richey, Founder of JouleFit, explore JouleFit and the Las Vegas Investor Conference event.
Watch Full Interview:
About James Richey
Co-Founder of JouleFit a technologically advanced wellness/fitness destination that optimizes muscle in (2) weekly 15-minutes sessions. James has the ability to prove results at the second workout.
Full Unedited Transcript
Hey, I’d like to welcome you to another episode of Mission Matters. My name is Adam Torres, and if you’d like to apply to be a guest on the show, just head on over to missionmatters. com and click on be our guest to apply. All right, so today we are at the Las Vegas Investor Conference at Sahara Casino.
Having all kinds of fun. Brad Turner and his team over at Market Completion Fun have put on an amazing event. And my first guest is James. James, welcome to the show. Thank you. Great to be here. All right. So James, is this your first time at the Las Vegas Investor Conference? It is not. It’s my second year.
I work with Brad. Enjoy helping him out. Well, this is my first time coming out and man, it’s been a whole lot of fun. I got to ask you, what, what keeps you Brent coming back? What keeps you coming back for those at home? Brad has a huge network. I’m in the process of founded a company. We’re raising money.
Brad has an incredible network. Talk about your company. My company is Jewel Fit. We’re a robotic fitness company. So if you can imagine going into a 2000 square foot environment with immersive video screens, the machines adapt to you instantly. So facial recognition is going to see you. It’s going to load your profile on that first machine.
It’s gamified. You compete against yourself in real time. We’re using robotic technology. We’re also using gamification. You work night, a 92nd set on the first piece of equipment. Your program automatically goes to the second and 12 and a half minutes later, you walk out with the best workout of your life and you haven’t even broken a sweat.
How’d you, how’d you come up with this idea? Like since founder, how’d you come up? You always been an entrepreneur? I have not. I’m a mechanical engineer, robotic engineer. I built assembly lines set up manufacturing high speed assembly for the first piece. 25 years of my life, always interested in fitness.
So at some point the robotic arms that we use that replaced the leg stack. At some point I started saying, why aren’t we using those to interact with the human? And so talk to me a little bit about the vision for the company. Like, tell me about the, like the vision of what, where it’s going to be going forward and where you’re at right now, if you’re raising capital or anything else.
Currently we’ve raised a million, three, we’ve got the tech, we’ve got a huge amount of technology that’s built. We’re in Blackfire here in Las Vegas, which is an innovation center that UNLV is heavily involved in. We go into a high end strip mall. Our goal is to disrupt fitness. I know that’s a big statement.
Yeah, that’s a big one. But we’re currently raising three million to open the first two flagships here in Las Vegas. Yeah. And then our goal is to raise a hundred over the next five years and expand to 10, 000 locations worldwide. Wow. What does that rollout look like? What is that even? I’m trying to imagine.
If you imagine a gray shell in a high end strip mall, we take two units. So two to 3, 000 square feet, we install three circuits. We, the interior of the entire gym is it’s automatic. So we’re not having to have, you know, build out with construction. We’ve got an entire kit and then we’ll open the door in two weeks as each piece of real estate opens.
So we’ve got an extremely aggressive rollout plan. And, you know, as long as marketing can keep. Filling up those seats. Yeah. We will expand as fast as we can. What do you see as some of the potential hurdles to the plants? ’cause we’re all, we’re all entrepreneurs a lot. We have a big entrepreneurial audience.
So everybody’s, you know, we all have our, our goals. What are some of the hurdles? Like what are some things to overcome? The biggest hurdle is obviously the fundraising. Mm-hmm . We’ve raised 1,000,003, now we’re raising three. Hmm. We don’t believe beyond this round we’ll have to raise because there’s a lot of people watching us.
And if we get those two flagships open, it gives us the ability to franchise or we’ve got some groups that want to just do location by location. What kind of, what kind of timeline are you looking at? This next round closes 12 months later. We’ll open the first two here in Vegas. And then from there, it’s as fast, we’re trying to get to 200 locations in the first five years.
And is the company based in Vegas, by the way? We are based in Las Vegas. We are also manufacturing the robotic equipment here in the valley. So that, I mean, that’s my background. That’s the easy part. The difficult part for me has been developing the network. Obviously that’s where Brad comes in. Yep. To find those funders for this next round.
Yeah. Amazing. Well, James what I want you to do final question is I want you to look into the camera and tell people how they can learn more, how they can follow up, how they can connect with you and your team. Absolutely. My email is James dot Richie at jewel fit. com J O U L E F I T. com. You can also visit us on our website, which is jewel fit, J O U L E F I T.
Dot AI. We also have a test location here in the valley where we are in black fire. Mm. You’re welcome to come and try a workout like you’ve never had. Oh, that’s what I’m talking about. And where’s black? I’m not from Vegas, I’m from la. Where? Where’s black Fire located? I see. Gimme some, some context. I’m here all week.
Black Fire is on West 8,400 West Sunset. It’s a four story building in the Harry Reid technology park. Alright, well and if you’re looking at Vegas, if you know where IKEA is. I can see that from my window. That’s what I’m talking about. Alright, well, and one more time, contact info so people can follow up.
Yes, James. Ritchie at Jewelfit. com or you can just visit my website at Jewelfit. com. Fantastic. If everybody listening, just so you know, we’ll put the links in the website so that you can just click on the link and head right on over. And speaking of the audience, if this is your first time with Mission Matters and you haven’t done it yet, hit that subscribe or follow button.
This is a daily show each and every day. We’re bringing you new content, new ideas, and hopefully new inspiration to help you along the way on your journey as well. So again, hit that subscribe or follow. And James, man, thank you for making time for us. You’re welcome.
