In this episode, Rick Mayo, Alloy Founder & CEO, and Matt Helland, Alloy VP of Studio Operations, discuss the 2023 year in review, highlighting the lessons learned, and revealing plans for the next year in the Alloy Personal Training journey.
A Year of Remarkable Growth and Innovation
As 2023 draws to a close, it’s time to reflect on the incredible journey of Alloy Personal Training Fitness Franchise. This 2023 year marked a significant milestone for Alloy, as they awarded an impressive 145 franchises, with 40 locations already operational and over 100 in various stages of development. These numbers are a testament to Alloy’s growing influence and success in the fitness franchising world.
Innovations and Enhancements
Alloy’s commitment to constant evolution was evident in the changes implemented this year. Key improvements include:
- Tweaking the Presale Process: Franchisees now have more time to establish their businesses, easing their entry into the fitness industry.
- Implementing EOS Framework: The EOS framework has revolutionized how Alloy franchises are run, teaching franchisees vital entrepreneurship skills and ensuring smoother business operations.
- New Equipment and Vendor Partnerships: Alloy introduced new equipment and this year partnered with Merrick Health, offering affordable concierge level telehealth and bloodwork options for comprehensive wellness.
- Scaling the Team: To support the expanding network of franchisees, Alloy scaled up their team, ensuring adequate support for all locations.
Growth and Challenges: A Continuous Pursuit of Excellence
This year was not just about growth, but also about facing challenges head-on. Rick Mayo and Matt Helland, the visionaries behind Alloy, emphasized the importance of operational success and the journey to entrepreneurship. They fine-tuned the presale process, ensuring franchisees have the best chances for success. This approach involved being selective in real estate choices, providing extensive resources for market identification, and implementing effective training methods.
Implementing EOS: A Game-Changer
The introduction of the Entrepreneurial Operating System (EOS) was a significant step for Alloy. This system not only helps in managing the business but also instills essential entrepreneurial skills in franchisees. It focuses on accountability, setting clear objectives, and ensuring everyone understands their role in the bigger picture. This mindset development is crucial for the success of the franchises.
Equipment and Software Updates
Alloy also focused on upgrading their equipment, making it more attractive and functional. This included branded backplates on the rack system and new millwork for the front desk areas. The systematic rollout of new equipment and creation of new training videos and materials ensured a seamless transition for existing franchises.
Expanding Vendor Partnerships
A notable addition this year was the partnership with Merrick Health. While Alloy can’t monetize the bloodwork and health services, offering these resources allows the franchisees to have a more comprehensive approach to wellness.
Scaling Challenges and Maintaining Culture
As Alloy prepares to award 170 more licenses in the upcoming year, a key challenge will be maintaining the company’s culture and core values amidst rapid expansion. This will require focused leadership and a commitment to continuous improvement and adaptation.
The Entrepreneurial Journey: More Than Just Business
At the heart of Alloy’s philosophy, is the belief that entrepreneurship is a journey of personal and professional growth. Matt emphasized that business challenges should be viewed as opportunities for self-improvement. This mindset transforms the entrepreneurial journey into a life-enhancing experience.
Looking Ahead: The Future of Alloy
The upcoming year promises to be a tipping point for Alloy, with plans to open an additional 100 clubs. We are ready to expand and scale up while maintaining Alloy’s culture and values. With the right team in leadership positions and a clear vision, Alloy is well-equipped to meet these challenges head-on.
A Message of Gratitude
Rick and Matt expressed their gratitude to their listeners and supporters, acknowledging the importance of community in their journey. They look forward to another year of growth, challenges, and success, inviting everyone to join them in this exciting venture.
As we move forward, we focus on continuous improvement, effective management systems, and a supportive community to pave the way for greater success in the years to come.
Podcast 226
Key Takeaways
- Alloy Franchise Business growth and success (02:25)
- Evolving a business model through small adjustments (04:52)
- Implementing EOS framework for franchisees (08:45)
- Implementing new equipment and software in a fitness franchise (13:35)
- Scaling a fitness franchise while maintaining culture (18:00)
- 170 new franchises in 2024 (21:57)
Mentioned in this episode