The Owner Seat

#34: The Yard LIVE Case Study: Should You Open Location #3? Learn From Joseph Cicero First


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Today on The Owner Seat, Albert Ramos sits down with Joseph Cicero to talk about what it really takes to scale a brick-and-mortar fitness brand without the façade — just utilization, discipline, and the emotional grind most owners never admit out loud.

Joseph is the Founder of The Yard, a strength-forward training model with two high-performing studios in San Francisco and Mill Valley — both profitable, both growing — built on relentless focus on utilization, financial discipline, community, and consistency.

And yes, you’ve probably seen his work: from the viral story of the 72-year-old vegan powerlifting nun that hit ABC News, to the hundreds of newsletters and nearly 400 posts documenting the real operator journey. But behind the scenes? This episode is about the part nobody posts: the wins that last 2 minutes… and the anxiety that lasts days.

The real operator tension:

  1. SF is pushing the utilization ceiling — and that creates an expansion/risk decision most founders mis-handle.
  2. Mill Valley is tracking SF’s curve (which becomes a powerful model for forecasting + staffing + capacity decisions).
  3. The Yard grew 44% YoY… and Joseph still doesn’t feel “safe.” That right there is the founder brain. In this episode, we unpack
  4. The emotional reality of growth (and why it never feels “done”).
  5. Utilization and margins as the real growth engine:

SF ~150% utilization / 56% operating margin; MV ~87% utilization / 22% operating margin

  1. How Joseph evaluates “maxed out” capacity + the financial signals that prove it.
  2. Expansion decisions: remodel vs. add a 3rd location, capital risk, and the first spreadsheet tab he builds.
  3. What most fitness founders get wrong about marketing, pricing, ClassPass, and capacity modeling.
  4. Why “consistency in storytelling” is a revenue lever (nearly 400 posts + 100+ newsletters).
  5. Leadership + culture: building a place where members, trainers, and community actually thrive. If you’re a founder trying to scale without drowning in chaos, this one is required.

📊 Work with Albert — Fractional CFO for Fitness & Wellness

I’m Albert Ramos, Fractional CFO and Founder of Stratego Intel Consulting.I help fitness, wellness, and franchise brands ($1M–$30M) build cash visibility, utilization modeling, pricing structure, and capital planning—the stuff that keeps you alive and makes you investable.

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The Owner SeatBy Albert Ramos