Barry’s offers an experience unlike any other. Signature red lights, humming treadmills and a playlist rivaling the trendiest nightclubs set the stage for a 50-minute, heart-pumping workout. The only thing more energizing than the high-pace workout is the community of people motivating each other.
For the last 25 years, Barry’s has been transforming lives around the world through its innovative approach to health and well-being. And Barry’s has transformed, too, expanding to new markets and building more resilient operations.
A quarter century of inspiration
In the late ’90s, Barry Jay was leading a group class at a popular fitness chain. Bored with the standard studio routine, he decided to try something different.
“He sent half the class to grab heavy weights and bring them in. The other half he put on treadmills outside the studio room,” said Barry’s Global CEO Joey Gonzalez.
Jay blasted music and called out directions to the West Hollywood gymgoers. They loved it. His managers, less so. Jay was soon fired from that job, but he gained such a following that two of his regulars invested in launching his company—then called Barry’s Bootcamp—in 1998.
The high-intensity interval training concept at the heart of Barry’s has evolved over the years. The military motifs and bootcamp branding are no longer used. And Barry’s has expanded beyond treadmill-centered workouts, offering additional modalities that feature strength training only and indoor cycling paired with strength training. No matter the evolution, the Barry’s experience remains a high-energy, welcoming atmosphere that continues to turn new customers into loyal regulars.
A studio for everyone
Like many members of the Barry’s family, Gonzalez embodies the mission of working hard, having fun and being your best. A former professional actor, he started exercising at Barry’s in his mid-20s. Gonzalez loved the workout so much that he soon became a trainer, tapping into his performance background to engage and inspire others.
He soon realized the experience would resonate far beyond West Hollywood. “I knew, once I started as an instructor, that I wanted to dedicate my life to scaling that experience across the world, bringing that exact feeling to as many people as possible,” he said.
From the C-suite to the studio floor, the organization is one where anyone—regardless of who they are or where they’re from—can feel welcome and seen. It’s been that way since Day One. Barry’s was founded by a gay man and has been led by LGBTQ+ community members ever since.
Today, Barry’s operates more than 80 locations in over a dozen countries. And even though he’s now CEO of the company, Gonzalez still teaches at least one class a week. It helps him stay close to the business, connect with teammates and build relationships with Barry’s clients. “It’s truthfully my favorite part of the job,” he said.
Intensity meets intentionality
John Simmons, Head of Middle Market Banking and Specialized Industries at JPMorgan Chase, was introduced to Barry’s when his wife “dragged” him to a class. Despite feeling apprehensive and a bit intimidated at first, Simmons quickly embraced the energy of the classes—and he’s attended nearly 400 since.
“You don’t have time to be bored, to check your phone,” he said. “For that hour, you’re with like-minded people just trying to do your absolute best.”
Simmons believes Barry’s is effective because the company understands its clients’ goals and motivations, and it helps those clients overcome barriers. JPMorgan Chase takes a similar approach with its clients, he said.
“We’re thinking about what they need today, but more importantly, what they need going forward,” Simmons said.
As Barry’s continued to open more studios and expand into other countries, it needed help with treasury management, cash management and working capital. The company’s private equity investors connected Jonathan “JJ” Gantt, its president and chief financial officer, with JPMorgan Chase. Like Gonzalez, Gantt was an avid Barry’s fan before joining the brand’s executive team.
“JPMorgan Chase is first and foremost our lender, but the relationship is much deeper,” Gantt said. “The team provided us with the necessary liquidity and support to continue our global growth strategy.”
In addition to financial support, JPMorgan Chase helped Barry’s access valuable customer insights in potential new markets. According to Gantt, that expertise has helped Barry’s make better decisions as it expands.
A crisis, a creative pivot and a collaboration
Growing a company is hard work. When the COVID-19 pandemic caused businesses to close their doors, Barry’s faced a huge challenge.
“When our global Red Rooms went dark, we did not have a digital product,” Gantt said. “JPMorgan Chase worked collaboratively with us to ensure we had the balance-sheet support to launch a digital product in just two weeks.”
Eager to serve its clients when they needed it most, Barry’s streamed classes live on Instagram. That first virtual session attracted more than 20,000 participants and ultimately evolved into Barry’s X, a digital fitness product that complements the in-person experience.
But Barry’s never lost sight of what made it so successful in the first place: the power of its in-person community. “Our core competency has always been about bringing people together live,” Gonzalez said. “I think the most significant accomplishment Barry’s has had is not only surviving the pandemic but thriving.”
In every class, Barry’s preaches continuous growth at a personal level, so it’s fitting that its leaders turned a harrowing moment into an opportunity that strengthened the company.
“Through transparency, trust and alignment, we worked with Barry’s to get to the other side,” Simmons said. “We don’t know exactly what’s next, but we look forward to supporting them through the next phase of this journey.”
How we can help
Wherever your company stands on its journey, JPMorgan Chase has the insights and resources to help take you to the next level. Reach out to your relationship team to learn more.
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