TThe Diary of a CEO
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27 December 2021

Gymshark CEO: How I Built A $1.5 Billion Business At 19: Ben Francis

5Frameworks
14Insights

Frameworks in this episode

Insights & moments

The myth-busts, hot takes, explainers, and tools worth keeping.

Myth Buster· 1

Myth Buster1:32:30

Hard Work Alone Was Not Gymshark's Formula

Francis rejects both the idea that effort alone is sufficient and the idea that success arrived without sustained work. He contrasts low-cost tactics that improved Google visibility with long days spent sewing and printing shirts, arguing that smart choices and hard execution played different roles.

  • He says hard work by itself does not solve every problem
  • Early search tactics generated revenue at little cost
  • Production also required repeated 12-to-16-hour days
  • His claim is that smart work and hard work were both necessary in his experience

hard work alone is definitely not enough

Ben Francis · 1:32:30
#hard work#leverage#execution

Hot Take· 1

Hot Take49:00

The Host's Case for the 'Glass Box' CEO

Steven Bartlett argues that a visible CEO gives the public its own reference point instead of leaving journalists and PR teams to define the person completely. Francis agrees that staying hidden lets other people control the language used about you, while noting that he initially preferred to focus quietly on building Gymshark.

  • Bartlett presents visibility as a possible defence against an externally manufactured image
  • Francis says early audience demand influenced his decision to become more public
  • Francis also understands why founders may prefer to focus privately at first
  • The defence mechanism is Bartlett's argument, not an established guarantee

other people get to control the rhetoric or the language or the description of yourself

Ben Francis · 50:00
#founder brand#transparency#media

Explainer· 2

Explainer47:30

The Three Market Forces Francis Credits for Gymshark's Timing

Francis explicitly credits luck as well as execution. He identifies growing interest in fitness, increasing comfort with direct-to-consumer online purchases and the rise of social media as three forces that converged when Gymshark launched.

  • Public concern about obesity coincided with greater encouragement to exercise
  • Consumers became more willing to buy online from unfamiliar companies
  • Social media created a new distribution environment
  • Francis says the convergence was luck and believes other shifts may be emerging now

those three forces converging at the point where jim sharp was founded

Ben Francis · 48:00
#timing#market forces#luck
Explainer1:20:30

Why Gymshark Wanted Its First Permanent Store

Francis says Gymshark had delayed permanent retail largely because a fast-growing company must reject many opportunities to avoid diluting its resources. Its planned London flagship was intended not merely as a sales channel but as a permanent community hub that extended the role of its live events.

  • Gymshark had used expos and temporary offline events since its early growth
  • The company tested demand with a Covent Garden pop-up interrupted by the pandemic
  • The proposed London flagship was still awaiting a signed lease at the time
  • Francis framed the store around experience, community and brand rather than utility alone

we've got a vision of this being a a true gymshark community hub

Ben Francis · 1:22:30
#retail#community#brand

Story· 7

Story03:00

How His Grandfather Reframed Business Risk

At 14, Ben Francis spent work experience helping his grandfather line industrial furnaces. The lasting lesson came from hearing how his grandfather had risked nearly everything on a furnace contract while supporting a family; Francis says that memory later made his own business risks feel smaller.

  • The work experience involved long days of manual labour
  • His grandfather discussed the risks and worries behind running the business
  • Francis later used that story as perspective on his own risks

my risks are nothing compared to his

Ben Francis · 04:30
#risk#family#early influences
Story05:00

The Practical IT Course Behind Gymshark's Early Skills

Francis says he was an average school student but responded strongly to practical coursework. A BTEC in IT taught him Photoshop, Dreamweaver and Illustrator, which became tools he later used to build Gymshark.

  • He describes practical learning as a better fit than exam-led study
  • The course taught specific design and web tools
  • Those skills later transferred directly into the company

through that btec i learned how to use photoshop dreamweaver illustrator

Ben Francis · 05:00
#education#practical learning#skills
Story15:30

Unclear Cofounder Roles Muddied the Water

Francis says he and cofounder Lewis Morgan initially worked from a shared task list without formal organisation. Their visions later diverged, and Francis accepts that the absence of clear roles and responsibilities may have contributed to the difficulty.

  • The founders initially tackled tasks as they appeared
  • There was no early division into formal executive roles
  • Their visions eventually moved in different directions
  • Francis says clear responsibilities prevent ambiguity

you need clear roles and responsibilities

Ben Francis · 17:00
#cofounders#roles#organisation
Story29:30

The CEO Return Was a Two-Year Handover, Not a Coup

Francis says Steve Hewitt raised the possibility of his return to the CEO role two years before the transition. They considered an external hire and identified what Francis would need to improve, while his rotations through brand, marketing, product and technology gave him detailed exposure to much of the company.

  • Hewitt initiated the succession discussion
  • The company considered both an outside hire and Francis
  • The transition included a two-year preparation period
  • Francis's earlier operating roles broadened his internal knowledge

this wasn't like an overnight thing

Ben Francis · 30:30
#succession#ceo#leadership
Story51:00

One Video Call Changed How He Saw Remote Work

Early in the pandemic, Francis saw an employee trying to work from a small Birmingham studio while their partner prepared breakfast nearby. Alongside reports from his mother at a Birmingham hospital, the moment made him recognise quickly that the disruption would affect employees very differently.

  • Gymshark's laptops and digital systems made the technical shift relatively manageable
  • Employees did not share the same physical working conditions
  • Francis says supporting hundreds of staff through uncertainty was difficult
  • He later favoured an open-minded mix while personally preferring the office

this is going to be really just really tough for some people

Ben Francis · 52:30
#remote work#covid#employee support
Story1:04:00

What an Online Pile-On Felt Like Behind the Brand

Francis recalls thousands of comments, messages and death threats after a Gymshark social account posted a sarcastic reply during a politically charged exchange. He describes feeling sick and reluctant to look at his phone, while still needing to support the wider company; these are his reported personal reactions, not a clinical diagnosis.

  • The incident began with a post Francis says should not have been published
  • Attention moved from the company account to Francis personally
  • He relied on support at work and from his wife
  • He says he processed the emotions while continuing to perform his role

i felt horrible i felt like you have a lump in your throat you feel sick

Ben Francis · 1:05:30
#social media#pressure#leadership
Story1:07:30

Why Gymshark Kept the Employee Behind a Public Mistake

Francis says the employee responsible for the social-media reply remained at Gymshark because the post was a mistake made without bad intent. He argues that removing everyone who fails would leave a company with people who have never failed, which he considers dangerous.

  • Francis distinguishes a mistake from deliberate harm
  • The employee learned and continued doing strong work
  • He rejects automatic expulsion after a good-faith failure
  • The response was intended to support learning and progress

if every time someone failed you just move them out the business

Ben Francis · 1:08:00
#failure#accountability#culture

Takeaway· 3

Takeaway07:00

Asking Questions Turned Local Contacts Into Mentors

Francis traces several important relationships to repeatedly asking knowledgeable people for help. A contact at his gym introduced him to Steve Hewitt, while an old acquaintance with ecommerce experience first advised Gymshark and later joined it.

  • Francis approached knowledgeable people in ordinary places such as his gym
  • One helpful contact led to another with relevant industry experience
  • An informal ecommerce request developed into a hire
  • He credits both selling the vision and persistent curiosity

the single thing was just asking questions

Ben Francis · 09:30
#mentorship#curiosity#networking
Takeaway34:30

Assuming Good Intent Changed How He Gave Feedback

Francis contrasts his earlier blunt style with a more empathetic approach. He says employees generally act with good intentions, so a disappointing product or post is usually a difference of judgement rather than an attempt to harm the brand.

  • He describes his earlier product feedback as direct and sometimes inconsiderate
  • He now tries to understand why a person made the decision
  • Good intentions do not remove the need for candid feedback
  • The reframing separates a disagreement from an attack

people are doing things for good intentions

Ben Francis · 35:30
#feedback#empathy#management
Takeaway58:30

The Foundations Gymshark Built Too Late

Looking back, Francis says Gymshark did not invest early enough in data, operations and finance. He was more excited by product, brand and marketing and did not initially respect the foundational functions, which he believes constrained faster growth.

  • Front-end creative work received more founder attention
  • Operations, finance and data were treated as less exciting
  • Francis believes stronger foundations would have supported faster growth
  • Bartlett says he made a similar mistake in his own company

we didn't invest in the foundations of the business early enough

Ben Francis · 58:30
#operations#finance#scaling