ExchangeVol32No2

COVER STORY
SEAMLESS
TRANSITION
Succession, expansion: The power of a respected brand
by Jon Rohr
Everyone remembers the infectious energy of John
Carter, founder and president of HomeFit Exercise
Equipment. From his Kitchener downtown shop on Queen
St., to his “got to get everything in this 15 second commercial”,
to his expanded showroom on Victoria St.,
Carter lived, breathed and worked fitness.
For 27 years, Carter ran one of the most respected independent
fitness stores in North America. He never missed a
Saturday, so when Carter died, his death sent a shock
wave throughout the fitness industry. As an owner and
entrepreneur, Carter was as committed to his customers as
he was his employees.
Months before his passing, Carter
made one last deal.
It was a deal
that, if it hadn’t worked, would have
ended his legacy in the fitness industry.
This deal was designed to provide
him comfort during his last days, so
he would know with a degree of certainty that the legacy
and brand he built would continue in perpetuity, under a
trusted new, hand-picked owner.
New? Well, not exactly. Kim Neziol, Carter’s protegé for
25 years, along with husband Dave Neziol, signed the legal
papers making them the new owners of John Carter’s legacy
on January 1, 2012. This was five months prior to the
May 18, 2012 death of the 60 year old entrepreneur, after a
long battle with prostate cancer.
Kim Neziol had started working alongside Carter at
Homefit in 1989 as his protegé and confidant. She new the
company intimately; no one doubted that she could and
would make it work. “The big thing with John,” says husband
Dave, “was that Kim and John had a very close relationship,
because they worked together for so long. John
wanted Kim to take the business over, it was important for
him that Kim take the business and continue on with it and
make the changes that she wanted to make.” Even at the
lawyers’ meeting, Carter told Kim and Dave that he was
glad the two of them were taking it over, “because they will
make the changes he would never have made.” Kim feels
very lucky to be able to take over Carter’s business: “John
created a brand, an independent store, the only kind in
Canada,” she states.
Carter built a wonderful foundation on which Kim and
Dave could build. Leveraging the name HomeFit, The Neziols
continued to focus on selling exercise equipment to
home owners – but there were new markets developing,
and they wanted a piece of the emerging opportunity.
Settling into her new role as owner, Neziol spent most of
her time working in administration and “doing what owners
do”. Dave, who had worked in the fitness industry on
the manufacturing side for past 25 years, was committed to
being a silent partner, “hands off”.
Kim, extremely familiar with
the retail sales side at HomeFit,
ramped up retail sales to the point
where she need to add another
employee to her complement of
four. “Once things started to get busier, Dave started coming
in on a part-time capacity, working on weekends and
maybe some nights.”
The two were working hard. Dave, who still working full
time outside the business, started to think about change.
Earlier this year, Dave left his job and came in to work at
HomeFit, full time, thus restoring the staffing levels to what
they were when Carter was owner and Kim, with three
other staff, was on the floor.
With the retail store smoothly operating, the Neziols
decided it was a good time for expansion. Dave, who has
25 years of experience in the fitness industry, suggested he
could leverage that experience, so the Neziols decided to
develop the commercial side of the business, a division
Dave would champion.
“One of our biggest challenges,” Dave states, was letting
people know that they had a full line of commercial equipment
available. “It’s difficult to get that across when we’re
called HomeFit,” said Kim, “and we’re certainly not going
to change the name”.
HomeFit had always done a little bit of commercial sales,
John created a brand, an independent
store, the only kind in Canada.
N O V E M B E R / D E C E M B E R 2 0 1 4 | 21