The Hire Yourself podcast host, Pete Gilfillan, interviews Rick Mayo about what makes Alloy different from other franchises. Rick also shares general business tips for starting and owning a franchise.

There is a lot of competition in the franchise industry. So it is important to separate yourself from the competition, especially from other fitness franchises. There are many fitness categories. There are large multi-club fitness businesses, general fitness, and boutique fitness categories, for example. Boutique fitness can include anywhere from large group classes, to small group personal training, and also one-to-one personal training. Alloy is in the boutique fitness category, with a smaller facility, fewer members, and a small group personal training concept.

Alloy Differences

1. Small Group Personal Training

With a ratio of 1 coach to 6 clients, Alloy has the intimacy of personal training with individualized programming and personalized attention, while creating a small tribal environment. The small group of 6 people allows for more support and motivation between the members.

2. Lower Cost With Small Group Personal Training

The small group ratio of 6:1 allows the cost per personal training session to be less than a typical one-on-one personal training session. A typical one-on-one personal training can run between $75 – $100 per session. Alloy can bring that cost down to $30 per session because of the small group.

3. Fewer Members Needed For Profitability

Typically, an Alloy facility has around 130 members max. There is generally a wait list as well. The boutique studio has a smaller facility square footage that leads to one of the Highest Revenue Per Square Foot in the fitness industry.

4. High Retention Rate = Lower Marketing Costs

Alloy’s retention rate is 97%, which is phenomenal in the fitness industry. With the low membership attrition, you spend less on marketing and trying to attract new members. It costs less to retain members than spending advertising and marketing dollars to find new members.

5. Longer Member Longevity Means Higher Lifetime Value (LTV)

The average client stays over 3 years or 36 months. The average monthly rate is $300 per month, so at $300 a month x 36 months, the LTV is $10,800. If you compare that to other boutique franchise concepts, that might have a18 month average longevity of a client at $260 per month, their LTV is lower at  $4,680.

6. Unique Technology

Alloy has a proprietary digital & mobile fitness app with an easy-to-use interface that allows the coach to deliver personalized and scientifically based programming for each client. It keeps track of clients’ progression and goals and allows each client to access their information and exercises in or out of the studio.

Alloy also has scientific measurement tools to measure things like strength, flexibility, and movement. They can also track this in the Alloy App.

7. Alloy Franchise Processes and Support

Alloy has one of the most extensive systems set up to help launch and support franchisees. They have the complete franchise package from the facility location, facility design, pre-sales playbook, grand-opening, scripting, technology, systems, equipment purchasing, hiring employees, and more.

8. Unique Demographic Market

The Alloy demographic population is the 45 – 65 age group. They typically are have more discretionary income as well as have a busy and professional lifestyle.

Rick also shares what they are looking for in an Alloy Franchise candidate and entrepreneurs. They should have leadership skills whether they have managed, hired and had those tough conversations with employees. They should also have resilience and mental toughness.

“Entrepreneurship is a personal growth journey disguised as a business.” 

Rick Mayo

Tune in to the interview to learn more about the Alloy differences from other franchises and what types of candidates would make great entrepreneurs.

 

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Rick Mayo

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