Fitness Fanatics is a Hong Kong-based distributor of imported sports nutrition products, sourcing from international brand owners — primarily in the U.S. and Europe — and selling across Hong Kong, Mainland China, and Malaysia. The portfolio covers over 300 SKUs across more than 30 brands, with protein powder the dominant category. Fitness Fanatics sells through two channels: B2B (wholesalers, retailers, supermarkets, gyms) and B2C (proprietary online stores, third-party e-commerce platforms, and gym vending machines). The company operates 230 vending machines in gyms, which it rents rather than owns, keeping the model asset-light. Hong Kong is the largest market, with Mainland China as a growing second. The company also generates revenue from a marketing services offering, placing ads on its vending machines for brand owners. Fitness Fanatics makes money by buying products from brand owners and reselling at a markup, with margins varying significantly by channel — B2C and marketing services carry materially higher margins than B2B. A notable feature of the model is heavy reliance on a single supplier, which accounted for roughly 72% of FY24 revenue; Fitness Fanatics holds exclusive Hong Kong distribution rights for four of that supplier's brands, though these agreements are renegotiated annually. The company's growth strategy centers on expanding its gym vending machine model into Southeast Asia, with Malaysia already launched and Singapore and the Philippines targeted next.