HALO Talks: Elevating Wellness

A LOT has happened since Crunch's early days!

• Humble Beginnings & Early Growth: Crunch started in 1989 with Doug Levine, Roger Harvey (Crunch's first COO), and a powerhouse team, quickly making waves in the highly competitive NYC fitness scene.
• Big Deals & Bumpy Roads: Bally Total Fitness bought Crunch in 2001 for $90 million, but soon faced challenges. A few years later, Angelo Gordon (with Pete Moore himself on the deal side) acquired the company for half that price—$45 million.
• Growing Pains: Membership dropped from 92,000 to 72,000, forcing Crunch into bankruptcy in 2009. This time was all about resetting, restructuring, and prepping for the future.
• A Decade of Determination: Crunch worked hard to dial in their business model, launching a successful franchise program and slowly but steadily building momentum.
• Skyrocketing Success: By 2019, TPG Growth snagged Crunch to accelerate its franchising efforts, which paid off. Fast-forward to today: Leonard Green has acquired Crunch for a stunning $1.5 billion. The company now boasts 500 locations and 3 million members!

One solid takeaway? Spotting potential in a struggling business—and having the patience, grit, and right partners to see it through—can lead to incredible success. Crunch isn't just surviving, they're thriving.

With blue-chip private equity backing and a proven growth strategy, the future looks bright.

RESOURCES:

• Crunch Fitness: https://www.crunchfitness.com
• Sale of Crunch to TPG: https://www.tpg.com/news-and-insights/tpg-backed-crunch-fitness-announces-strategic-investment-from-leonard-green-partners
• Doug Levine's Live HALO Talks in NYC: https://youtu.be/h-qDEAS5LsM?si=kh0GclOgGmwXMxhS

Every Wednesday we release our all new "HALO Academy: 2 Minute Financial Drill" by Integrity Square Founder & HALO Talks host, Pete Moore on everything you need to know for financial literacy, unit economics, legal documents used for M&A and capital raises, capital sources you can access, understanding how financings are structured, valuation metrics and parameters, and what you need to know about your own business before engaging in cap raises and/or a potential sale. If you missed our email about this, you can re-read it here: https://mailchi.mp/9567da51c0ce/2025programschedule ====================================================== RESOURCES

• https://www.integritysq.com
• https://www.halotalks.com
• https://www.thehaloacademy.com ===================================================

ABOUT YOUR INSTRUCTOR Pete is the Founder, Managing Partner and Chief Dream Architect at Integrity Square ("ISQ"), a leading boutique financial advisory firm focused on the $4.7T Health, Active Lifestyle, Outdoor ("HALO") sector. Since founding ISQ in 2010, the firm has played an active advisory role in 100+ mergers & acquisitions, private placements and advisory assignments across North America.

Pete Moore and his team have also invested in passionate entrepreneurs at HigherDOSE, XTEND, and Promotion Vault. ISQ's media and "live education" properties include HALO Talks, the leading B2B podcast in the sector, Time To Win Again, and the HALO Academy, an Executive Education Bootcamp Series.

Prior to ISQ, Pete was Head of the Active Lifestyle & Wellness Group at Sagent Advisors (2003-2010.) Prior to 2003, Pete was co-founder of FitnessInsite, a SasS sales management platform with 1500+ clients (based in AZ.) At FitnessInsite, Pete invested his personal capital, leveraged his credit cards and learned what it takes to manage a startup.

Pete built his business and financial acumen on top of the foundation laid at three critical positions early in his career: Senior Associate at Brockway Moran & Partners, the private equity owner of Gold's Gym International, Inc; worked as an Associate at Donaldson, Lufkin & Jenrette; and an Analyst at Chase Securities. (Now JP Morgan.)

ISQ saw a need for a deeper & more useful level of education in the HALO sector. In response, we launched the HALO Talks podcast, with 500+ completed interviews and over 120,000 downloads. HALO Talks has become a "must listen" for anyone working or investing in the sector.

Pete graduated from Emory University (BBA, 1994) and received his MBA from Harvard Business School (1999.) While at HBS, he co-founded IRON PLANET, the leading B2B auction site for used heavy equipment, which was sold to Ritchie Bros for $758 million. His hobbies include: Football, basketball, tennis, podcasting, amateur ventriloquism, pro bono DJ and fitness enthusiast.

On this episode of HALO Talks, host Pete Moore sits down with Gabriel Cian, a serial entrepreneur from France with a passion for longevity and health innovation. Gabriel shares his journey from building and successfully exiting two tech startups to founding the 2060 Foundation, an organization dedicated to advancing longevity through investment and policy change. The conversation dives further into the intricacies of selling a company, the booming field of longevity science, and the crucial roles of healthspan, lifespan, and mental health in extending quality of life.

Gabriel and Pete also discuss the challenges and opportunities facing entrepreneurs in this space, the global landscape of longevity policy, and how his foundation is helping drive change through investment and advocacy. Whether you're a startup founder, investor, or simply curious about the future of human health and well-being, this episode is packed with insights and inspiration from one of the leading voices in the field.

When it comes to the aging process, Cian states, "We are trying to slow it down, stop it, or even, let's be crazy, reverse it! And this is more science fiction-like. It's more futuristic, and it's certainly riskier as a business model." Key themes discussed

• Serial entrepreneurship and successful tech company exits.
• Structuring and achieving earn-outs during company acquisitions.
• Transition from tech to longevity and health span focus.
• The mission and activities of the 2060 Foundation.
• Importance of mental health and social connections in aging.

A few key takeaways:

1. Career Pivot to Longevity: Gabriel built and successfully exited two tech startups (including getemail.io), primarily in AI, big data, and marketing automation. After his last exit in 2021, he shifted his focus entirely to the field of longevity, dedicating the next chapter of his life to helping people live longer, healthier lives.

2. Longevity Ecosystem: Healthspan vs. Lifespan Gabriel outlined two "ecosystems" within longevity:

Healthspan: Practical, current interventions like physical activity, nutrition, sleep, stress management, and proven supplements. Lifespan: The science-driven, experimental side aiming to understand and potentially slow or even reverse aging at the biological level—an area that's more risky but with potentially greater breakthroughs.

3. The 2060 Foundation's Unique Model: His 2060 Foundation is structured to bridge short-term and long-term solutions. In the short-term, they're building startups focused on healthspan (which investors and VCs more easily understand.) The profits and expertise from those support longer-term, riskier projects—like advocating for legal and regulatory changes and funding true lifespan-extending science.

4. Investment Club Approach: A core project of the 2060 Foundation is an investment group made up of entrepreneurs passionate about longevity. Their aim is to funnel more capital and mentor talent into both healthspan startups and true longevity biotech, without seeking profit for the foundation itself.

5. Policy, Prevention, and Advocacy Gabriel emphasized two roadblocks to progress in longevity: Governments' reluctance to fund true "preventative" healthcare versus reactive "sick care", and the fact that aging isn't classified as a disease on a global medical level, which limits research funding.

Resources:

• Gabriel Cian: https://www.linkedin.com/in/gabriel-cian-807b39156/?originalSubdomain=fr
• Ikare.ai: https://www.ikare.ai
• 2060 Life Foundation: https://2060.life
• Prospect Wizard: http://www.theprospectwizard.com
• Promotion Vault: http://www.promotionvault.com
• HigherDose: http://www.higherdose.com

Every Wednesday we release our all new "HALO Academy: 2 Minute Financial Drill" by Integrity Square Founder & HALO Talks host, Pete Moore on everything you need to know for financial literacy, unit economics, legal documents used for M&A and capital raises, capital sources you can access, understanding how financings are structured, valuation metrics and parameters, and what you need to know about your own business before engaging in cap raises and/or a potential sale. If you missed our email about this, you can re-read it here: https://mailchi.mp/9567da51c0ce/2025programschedule ====================================================== RESOURCES

• https://www.integritysq.com
• https://www.halotalks.com
• https://www.thehaloacademy.com ===================================================

ABOUT YOUR INSTRUCTOR Pete is the Founder, Managing Partner and Chief Dream Architect at Integrity Square ("ISQ"), a leading boutique financial advisory firm focused on the $4.7T Health, Active Lifestyle, Outdoor ("HALO") sector. Since founding ISQ in 2010, the firm has played an active advisory role in 100+ mergers & acquisitions, private placements and advisory assignments across North America.

Pete Moore and his team have also invested in passionate entrepreneurs at HigherDOSE, XTEND, and Promotion Vault. ISQ's media and "live education" properties include HALO Talks, the leading B2B podcast in the sector, Time To Win Again, and the HALO Academy, an Executive Education Bootcamp Series.

Prior to ISQ, Pete was Head of the Active Lifestyle & Wellness Group at Sagent Advisors (2003-2010.) Prior to 2003, Pete was co-founder of FitnessInsite, a SasS sales management platform with 1500+ clients (based in AZ.) At FitnessInsite, Pete invested his personal capital, leveraged his credit cards and learned what it takes to manage a startup.

Pete built his business and financial acumen on top of the foundation laid at three critical positions early in his career: Senior Associate at Brockway Moran & Partners, the private equity owner of Gold's Gym International, Inc; worked as an Associate at Donaldson, Lufkin & Jenrette; and an Analyst at Chase Securities. (Now JP Morgan.)

ISQ saw a need for a deeper & more useful level of education in the HALO sector. In response, we launched the HALO Talks podcast, with 500+ completed interviews and over 120,000 downloads. HALO Talks has become a "must listen" for anyone working or investing in the sector.

Pete graduated from Emory University (BBA, 1994) and received his MBA from Harvard Business School (1999.) While at HBS, he co-founded IRON PLANET, the leading B2B auction site for used heavy equipment, which was sold to Ritchie Bros for $758 million. His hobbies include: Football, basketball, tennis, podcasting, amateur ventriloquism, pro bono DJ and fitness enthusiast.

On this episode, host Pete Moore dives into the cutting-edge world of regenerative medicine and longevity with guests Howard Leonhardt, founder of Leonhardt Ventures and Lionheart Health, and Scott Hoots, an expert in health and wellness franchising. Leonhardt is an innovative medical entrepreneur whose journey started in 1982 with the founding of Leonhardt Ventures, the parent of Lionheart Health and Lionheart Longevity and Wellness.

Over the decades, Leonhardt has pioneered groundbreaking medical inventions—most notably in combining stem cells with bioelectronic stimulation to assist in regenerating parts of the heart muscle. Since launching this research in 1988, Leonhardt has raised and invested more than $150 million, driving clinical trials in collaboration with over 50 leading research centers worldwide, including the Mayo Clinic and Cleveland Clinic. To date, over 600,000 patients have been treated using technologies developed by Leonhardt, whose inventions have generated more than $1.7 billion in annual revenues for their acquirers.

With regards to turning back the clock on aging, Howard states, "Lionheart Health technologies basically, in short, helps in regenerating your body twenty years, and that includes skin, hair, sexual health, and joint health. That is our goal for our clinics. That is our goal for our products, and we have 500 patent claims protecting that very unique technology."

Key themes discussed

• Longevity and regenerative health technologies to help reverse aging.
• Lionheart Health's patented EMS suits and stimulators.
• Business models: Licensing, franchising, and commercialization strategies.
• Clinical results and patented protein expression stimulation.
• Integration opportunities for med spas and fitness operators.
• Investment options in Lionheart Health and related ventures.
• Challenges of competing with traditional pharma solutions.

A few key takeaways:

1. Lionheart Health's Unique Regenerative Technology: Howard Leonhardt's team has developed technology that combines stem cells and bioelectric stimulation to aid in regenerate tissue and reverse aging signs. Their EMS suits and stimulators are patented to specifically induce the production of proteins—like klotho and follistatin—that are associated with longevity and age reversal.

2. Clinical Results and Diverse Applications: Lionheart Health's approaches are already well-tested: Over 600,000 patients have been treated with related technologies, and the team has run FDA trials and partnerships with top institutions (Mayo Clinic, Cleveland Clinic, etc.) Applications extend beyond muscle and joint health to skin, hair, and sexual health—essentially offering full-body rejuvenation.

3. Business Model-Licensing and Franchising: The team is rolling out Lionheart Health through both licensing and franchising. Existing med spas, EMS studios, or wellness clinics can license these suits and stimulators, differentiating their business and adding high-value longevity services. Franchise opportunities will open up more broadly in 2025, with flexible models to suit different markets.

4. Revenue Potential and Clinic Setup: Licensing starts at $40,000 for a dedicated suite, with ongoing royalties. The professional EMS suits for clinics range in cost; most studios operate on a membership basis, with clients attending regular sessions (e.g., twice weekly for 4-12 weeks.) The company has plans for significant expansion, targeting over 100 licensed/franchised locations in the coming years.

5. Vision-Competing with Traditional Solutions: Lionheart is directly challenging "big pharma" and traditional approaches (like pill-based ED solutions), offering regenerative, non-pharmaceutical interventions. They're participating in major longevity challenges (such as the $101 million XPRIZE for healthspan), aiming to drastically improve muscle, brain, and immune health—potentially reversing aging by 20 years for participants.

Resources:

• Howard Leonhardt: https://www.linkedin.com/in/howard-leonhardt-6694185
• Leonhardt Health: https://lionhearthealthstim.com
• Leonhardt Ventures: https://leonhardtventures.com
• Prospect Wizard: http://www.theprospectwizard.com
• Promotion Vault: http://www.promotionvault.com
• HigherDose: http://www.higherdose.com

1. Slamming Is a Serious Threat for Facilities Slamming is a deceptive practice where unauthorized third parties trick business staff into signing up for expensive electricity supply contracts, often by posing as utility representatives. This can result in facilities unknowingly paying much higher rates.

2. Financial Impact Can Be Huge Justin shares real-world examples where facilities ended up paying outrageous rates—like 30¢ per kWh (kilowatt hour) instead of the standard 10¢—sometimes adding up to thousands of dollars each month. One client's bill was reduced from $15,000 to $5,000 per month after the issue was detected and resolved.

3. Most People Don't Check Utility Bills Thoroughly Business owners and their staff rarely scrutinize line items on utility bills, making it easy for slamming and mistakes like being placed in the wrong "rate class" to go undetected for years. One example saved a company $120,000 in refunds.

4. David Energy Offers Ongoing Bill Monitoring as a Free Value-Add David Energy provides free bill "health checks" and ongoing monitoring to spot slamming and correct rate errors. This service is meant to protect clients from these costly mistakes and ensure they aren't overpaying, with no obligation to switch providers.

5. Education and Proactive Partnering are Critical Know the difference between utilities, suppliers, and brokers. David Energy acts as a direct supplier—not a broker—and works directly with Con Edison. Partnering with a provider who proactively reviews bills adds substantial value and financial protection for facility owners.

If you want to take advantage of their free bill review, reach out to Justin and the David Energy team with your most recent utility bill for a no-strings-attached analysis.

RESOURCES:

• David Energy: http://www.davidenergy.com
• Justin Rumack: https://www.linkedin.com/in/justin-rumack-75287b4/
• Contact: [email protected]
• James McGinniss HALO Talks Webinar: https://www.youtube.com/watch?v=lYmyaiQ9Vi8

Every Wednesday we release our all new "HALO Academy: 2 Minute Drill" by Integrity Square Founder & HALO Talks host, Pete Moore on everything you need to know for financial literacy, unit economics, legal documents used for M&A and capital raises, capital sources you can access, understanding how financings are structured, valuation metrics and parameters, and what you need to know about your own business before engaging in cap raises and/or a potential sale. If you missed our email about this, you can re-read it here: https://mailchi.mp/9567da51c0ce/2025programschedule ====================================================== RESOURCES

• https://www.integritysq.com
• https://www.halotalks.com
• https://www.thehaloacademy.com ===================================================

ABOUT YOUR INSTRUCTOR Pete is the Founder, Managing Partner and Chief Dream Architect at Integrity Square ("ISQ"), a leading boutique financial advisory firm focused on the $4.7T Health, Active Lifestyle, Outdoor ("HALO") sector. Since founding ISQ in 2010, the firm has played an active advisory role in 100+ mergers & acquisitions, private placements and advisory assignments across North America.

Pete Moore and his team have also invested in passionate entrepreneurs at HigherDOSE, XTEND, and Promotion Vault. ISQ's media and "live education" properties include HALO Talks, the leading B2B podcast in the sector, Time To Win Again, and the HALO Academy, an Executive Education Bootcamp Series.

Prior to ISQ, Pete was Head of the Active Lifestyle & Wellness Group at Sagent Advisors (2003-2010.) Prior to 2003, Pete was co-founder of FitnessInsite, a SasS sales management platform with 1500+ clients (based in AZ.) At FitnessInsite, Pete invested his personal capital, leveraged his credit cards and learned what it takes to manage a startup.

Pete built his business and financial acumen on top of the foundation laid at three critical positions early in his career: Senior Associate at Brockway Moran & Partners, the private equity owner of Gold's Gym International, Inc; worked as an Associate at Donaldson, Lufkin & Jenrette; and an Analyst at Chase Securities. (Now JP Morgan.)

ISQ saw a need for a deeper & more useful level of education in the HALO sector. In response, we launched the HALO Talks podcast, with 500+ completed interviews and over 120,000 downloads. HALO Talks has become a "must listen" for anyone working or investing in the sector.

Pete graduated from Emory University (BBA, 1994) and received his MBA from Harvard Business School (1999.) While at HBS, he co-founded IRON PLANET, the leading B2B auction site for used heavy equipment, which was sold to Ritchie Bros for $758 million. His hobbies include: Football, basketball, tennis, podcasting, amateur ventriloquism, pro bono DJ and fitness enthusiast.

In this episode, we explore the world of health coaching with Kathleen Ferguson, a seasoned HALO industry veteran dedicated to transforming lives through fitness and wellness. Pete and Kathleen chat about her new venture, Coach 360, which aims to revolutionize the career landscape for health and wellness coaches. She shares her career path from trainer to business owner, and how she's addressing the industry's pressing issue of high turnover rates by supporting coaches in building sustainable and impactful careers. Also mentioned is the rise of hybrid fitness professionals, the importance of aligning personal goals with organizational culture, and creating a vibrant ecosystem for coaches to thrive. Whether you're a coach, studio owner, or merely curious about the future of health and wellness, this episode is a must-listen!

"A type of 'hybrid' fitness professional is on the rise," Ferguson states. "What I'm seeing more of is the brick and mortar studio locations are actually encouraging this and saying, listen. . . you're a rock star instructor.' I know that if you're doing, for example, macro-counting coach groups with a community of women in the city, that you're going to bring them in to work out here."

Key themes discussed

• Coach Churn: High turnover among fitness coaches affecting industry.
• Niche Staffing: Demand for specialized platforms in health and wellness.
• Hybrid Coaches: Balancing independent and club-based work.
• Business of Coaching: Supporting coaches' careers and development.
• Holistic Health: Emphasis on a comprehensive approach to coaching.
• Storytelling: Importance of brands conveying their unique narratives.
• Community Building: Creating a supportive ecosystem for coaches.

A few key takeaways:

1. Focus on Empowering Coaches: Kathleen is passionate about creating a platform that supports health, fitness, and wellness coaches in building sustainable and impactful careers. She emphasizes the need for a career path rather than just a temporary role in the industry.

2. Addressing High Turnover: Pete and Kathleen address the significant issue of high turnover rates in fitness studios and gyms, which is currently around 80%. A big part of Coach 360's mission is to try to decrease this by offering coaches the resources and support they need to find the right roles and grow in their careers.

3. Hybrid Coaching Models: There's a growing trend of "hybrid" health professionals who work both independently and within fitness facilities. Coach 360 aims to support these professionals by connecting them to roles and providing them with business guidance to manage their dual careers effectively.

4. Personalized Staffing Solutions: Kathleen also discusses how niche staffing platforms, like Coach 360, provide more personalized and effective solutions for finding the right talent in the health and wellness industry, as opposed to more generic job platforms.

5. Community and Storytelling: Coach 360 not only focuses on job placement but also on creating a community where coaches and studios can share stories. This helps professionals connect better with potential employers, members, and clients by showcasing who they are beyond just their qualifications.

Resources:

• Kathleen Ferguson: https://www.linkedin.com/in/kathleentaylorferguson
• Coach 360: https://www.coach360news.com
• Prospect Wizard: http://www.theprospectwizard.com
• Promotion Vault: http://www.promotionvault.com
• HigherDose: http://www.higherdose.com

Today's Thursday . . . and that means another HALO Talks-Fast Break! Integrity Square Founder and HALO Talks host Pete Moore, dives into the complexities of inventory debt financing in the e-commerce sector, especially as tariffs continue to shake up the financial landscape.

Pete also explores the intricacies of high-interest loans for inventory, as financial institutions begin scrutinizing financial compliance more than ever. Buckle up for potentially challenging months ahead as we navigate this evolving terrain.

A few key takeaways:

1. Impact of Tariffs on Inventory: The episode discusses how tariffs are potentially impacting the financing of inventory, especially for companies involved in ecommerce that rely on overseas shipments. The tariffs (and on-again/off-again nature of the current administration) pose risks that need to be managed by both companies and their lenders.

2. Risk Management by Banks: Financial institutions are increasingly cautious, with banks scrutinizing loans more closely. Some are already directly accessing company financials to monitor monthly financial performance, aiming to mitigate risks associated with high-interest loans for inventory management.

3. Stringent Compliance Measures: There's a move towards tightening compliance. Banks are expected to enhance their scrutiny of debt facilities, ensuring that they only lend to companies with a strong ability to repay, given the financial uncertainty heightened by tariffs.

4. Operational Precautions: Companies need to brace themselves for an environment where financial oversight and risk evaluation by lenders become more stringent. This also suggests a need for companies to maintain robust financial health and present transparent records.

5. Market Uncertainty: The overall message is that the coming months might be "challenging", with potential shifts in how debt and financing will be managed. Pete advises companies to prepare accordingly, indicating a period of financial conservatism might be necessary.

Every Wednesday we release our all new "HALO Academy: 2 Minute Drill" by Integrity Square Founder & HALO Talks host, Pete Moore on everything you need to know for financial literacy, unit economics, legal documents used for M&A and capital raises, capital sources you can access, understanding how financings are structured, valuation metrics and parameters, and what you need to know about your own business before engaging in cap raises and/or a potential sale. If you missed our email about this, you can re-read it here: https://mailchi.mp/9567da51c0ce/2025programschedule ====================================================== RESOURCES

• https://www.integritysq.com
• https://www.halotalks.com
• https://www.thehaloacademy.com ===================================================

ABOUT YOUR INSTRUCTOR Pete is the Founder, Managing Partner and Chief Dream Architect at Integrity Square ("ISQ"), a leading boutique financial advisory firm focused on the $4.7T Health, Active Lifestyle, Outdoor ("HALO") sector. Since founding ISQ in 2010, the firm has played an active advisory role in 100+ mergers & acquisitions, private placements and advisory assignments across North America.

Pete Moore and his team have also invested in passionate entrepreneurs at HigherDOSE, XTEND, and Promotion Vault. ISQ's media and "live education" properties include HALO Talks, the leading B2B podcast in the sector, Time To Win Again, and the HALO Academy, an Executive Education Bootcamp Series.

Prior to ISQ, Pete was Head of the Active Lifestyle & Wellness Group at Sagent Advisors (2003-2010.) Prior to 2003, Pete was co-founder of FitnessInsite, a SasS sales management platform with 1500+ clients (based in AZ.) At FitnessInsite, Pete invested his personal capital, leveraged his credit cards and learned what it takes to manage a startup.

Pete built his business and financial acumen on top of the foundation laid at three critical positions early in his career: Senior Associate at Brockway Moran & Partners, the private equity owner of Gold's Gym International, Inc; worked as an Associate at Donaldson, Lufkin & Jenrette; and an Analyst at Chase Securities. (Now JP Morgan.)

ISQ saw a need for a deeper & more useful level of education in the HALO sector. In response, we launched the HALO Talks podcast, with 500+ completed interviews and over 120,000 downloads. HALO Talks has become a "must listen" for anyone working or investing in the sector.

Pete graduated from Emory University (BBA, 1994) and received his MBA from Harvard Business School (1999.) While at HBS, he co-founded IRON PLANET, the leading B2B auction site for used heavy equipment, which was sold to Ritchie Bros for $758 million. His hobbies include: Football, basketball, tennis, podcasting, amateur ventriloquism, pro bono DJ and fitness enthusiast.