THE IMPACT OF COVID19 ON THE ALLOY PERSONAL TRAINING FRANCHISE
Impact
The Covid-19 pandemic had little impact on the Alloy Personal Training Franchise business model. It did, however, affect our daily routines. From making sure we kept our friends, franchisees, clients, and families safe, to the challenge of appropriately guiding our franchisees, this pandemic made an impact on many large gyms and boutique fitness studios shutting down without a clear timeframe for when they will reopen. Others, like our Alloy Personal Training Franchise, have reopened consistent with guidelines provided by federal, state and local authorities. We are continuing to make client and staff safety a priority while working to produce impressive revenues.
Response
We sympathize with the challenge many fitness concepts face, however, we find our brand in a position to capitalize on the revelations of this pandemic. Many factors that will contribute to our brand’s continued success in this era of COVID19 include:
Small session sizes with no sharing of equipment
Frequent sanitation of equipment and studio spaces.
Scheduled in studio training that controls the flow of people in-and-out of the studio.
Over 6’ of distance between each participant with easily movable equipment.
A customized mobile app to offer coaching and workouts in and outside the studio.
Retention
These are some of the key factors that have led us to sign new Alloy Personal Training franchisees and watch them open their locations since the beginning of the pandemic. As a further indication of Alloy’s resilience, our newest franchise location in North Carolina conducted pre-sales during the shutdown and opened with 100+ members when they were allowed to open. And our two existing locations in the Atlanta area reported retention rates and revenue/member figures that are well above the industry average, even for pre-COVID19 standards! As an example, the following chart shows our member retention rates for the first six months of 2020. Typical member retention rates during “normal” times are 82% as reported by the Association of Fitness Studios. Alloy locations are well above industry standards even during COVID19!
Our team continues to be engaged in how to appropriately address the pandemic based on all available information and support our current and prospective franchise partners during this era of COVID19. Contact us to learn more.