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Live from the floor of the March 2023 IHRSA Trade Show in San Diego, host Pete Moore welcomes Kimberley Clayton, CEO and Founder of SKOP Reformer, the world's first patented data analytic Pilates reformer. SKOP is positioned to disrupt the physical therapy and telemedicine sectors, allowing people to prevent and predict injuries as well as train, enhance, recover and rehabilitate physical movement.
Not one to enjoy conventional workouts, Kimberley reveals that Pilates is the exception for her, emphasizing its role in building a strong foundation for other activities. She stresses however that Pilates by itself is not enough and emphasizes the significance of cardio health.
Shifting gears, the conversation turns to the lack of action in providing capital to diverse entrepreneurs in the venture capital and private equity communities. Kimberley believes that fundraising and access to capital still heavily rely on personal connections, rather than democratizing the process.
On the roller coaster ride that is entrepreneurship, she states "There's going to be moments you are thinking to yourself, why am I doing this? And I'm crazy, and everyone thinks I'm crazy and what is happening? How did I get here? Just in those moments, remember how you feel today, how excited you are about it, how much you believe in it, and how passionate you are about it."
Kimberley reminisces about her upbringing and the early introduction to Pilates through her mother, who is also chiropractor. With a background in sports medicine, Kim's expertise lies in pre and postpartum care. With plans to launch towards the end of 2023, this is definitely a company to keep your eye on! Head to the website and opt-in for more.
Some key moments:
[00:06:31] Building unique machine, prioritizing form and wellness, shifting to B2B launch.
[00:08:58] Intense moment of self-doubt in entrepreneurship.
[00:11:17] Discrepancy in funding diverse entrepreneurs, lack of action.
[00:15:44] Building revenue streams through quality training protocols.
[00:20:18] Exciting credible source for home workout recovery.
A few key takeaways:
Click here to download transcript.
Connect With Us:
Instagram: https://www.instagram.com/thehaloadvisors/?hl=en Facebook: https://www.facebook.com/Integritysquare YouTube: https://www.youtube.com/@halotalks Twitter: https://twitter.com/thehaloadvisors LinkedIn: https://www.linkedin.com/company/integrity-square/ Website: https://www.halotalks.com
Loved this episode? Leave us a review and rating here: www.ratethispodcast.com/halotalks and don't forget to check out the HALO Academy for Executive Education opportunities.
Eric Epstein is a seasoned private equity professional with over 30 years of experience. He began his career at the prestigious Blackstone Group in New York City, where he honed his skills for a few years before moving on to work with various private credit funds. Afterward, Eric joined the private equity group at Cerberus Capital and spent a decade working in their New York and Los Angeles offices. Currently, he operates as an independent sponsor. Eric has built strong relationships with family offices and institutional capital partners who support him in pursuing transactions primarily within the HALO (Health, Active Lifestyle, Outdoor) sector, and he is well-known for his involvement in such endeavors.
Eric shares his insights and experiences, emphasizing the benefits and professionalism of private equity. He highlights the complexities involved in the industry, including the relationships between landlords, franchisees, equity groups, and debt groups. He also discusses his own experience closing a deal just before COVID-19 hit and how it impacted the private equity sector. Eric's focus lies in consumer brands and rapidly growing franchises, emphasizing the importance of good gross margins and scalability.
Regarding the importance of cultural fit in partnerships he states, "You're not just selling your company for the highest price and moving on, you're entering a partnership. And so understanding the terms of that, not just economically and structurally, but also culturally, is a big deal."
Eric provides valuable insights on managing expectations, choosing the right partner, and ensuring a strong capital structure to support growth plans. This is a must-listen for anyone interested in the critical role private equity continues to play in the HALO sector.
Some key moments:
[00:05:57] Entrepreneurs buy territory, borrow, open leases; private equity partnership benefits management team.
[00:07:49] Relationship-based, curated approach to securing transactions.
[00:10:42] Economics and culture key in partnership transactions.
[00:16:28] Benefits of private equity and franchise diligence.
[00:19:45] Agree on private equity model's deficiencies, long-term hold, growth plans, diverse shareholders, capital structure.
A few key takeaways:
Click here to download transcript.
Connect With Us:
Instagram: https://www.instagram.com/thehaloadvisors/?hl=en Facebook: https://www.facebook.com/Integritysquare YouTube: https://www.youtube.com/@halotalks Twitter: https://twitter.com/thehaloadvisors LinkedIn: https://www.linkedin.com/company/integrity-square/ Website: https://www.halotalks.com
Loved this episode? Leave us a review and rating here: www.ratethispodcast.com/halotalks and don't forget to check out the HALO Academy for Executive Education opportunities.
Kristin Peterson is one of the three Founders of Volee that specializes in high-end, pickleball accessories. Their site states, "Volée is a Newport Beach based brand founded by three best friends inspired by their passion for court sports, style, fun and community. The retro vibe of California adds a sporty sophistication to the brand, making Volée's elevated, multifunctional and fashionable bags and accessories stand out."
Alongside Co-Founders Ashley Rose and Kasey Martin, the idea was sparked when they played pickleball for the first time and immediately fell in love with the sport. Realizing the competition in the clothing industry, they decided to focus on accessories instead. Together, they came up with the idea of designing a high-end, well constructed, pickleball bag for women that looks good both on and off the court.
"The bags are packed with impressive features that make them stand out. From the hook on the crossbody that prevents placing the bag on the ground to the lined sunglass case, there are plenty of little details that make them special," states Peterson.
The partners discuss building out their brand that conveys a specific identity . . . and the role of celebrity influencers as they continue to scale. They also offer some solid advice for other entrepreneurs in balancing their passions and help managing startups.
Some key moments:
[00:01:49] Passionate group of friends create high-end pickleball bag & accessories company.
[00:04:12] Pickleball industry growth, potential for profitability.
[00:12:32] Entrepreneurs face roller coaster ride managing passions.
[00:15:38] Fewer SKUs for inventory.
[00:19:46] Building a brand that reflects personal identity.
[00:21:14] YouTube channel or podcast, visual appeal important.
A few key takeaways:
Connect With Us:
Instagram: https://www.instagram.com/thehaloadvisors/?hl=en Facebook: https://www.facebook.com/Integritysquare YouTube: https://www.youtube.com/@halotalks Twitter: https://twitter.com/thehaloadvisors LinkedIn: https://www.linkedin.com/company/integrity-square/ Website: https://www.halotalks.com
Loved this episode? Leave us a review and rating here: www.ratethispodcast.com/halotalks and don't forget to check out the HALO Academy for Executive Education opportunities.
Live from the floor of the March 2023 IHRSA Trade Show in San Diego, host Pete Moore welcomes Ahmed AbouElezz, the founder of FITT Finder. Ahmed shares his entrepreneurial journey, beginning with arriving in the United States with only $3,000 in his bank account and working as a nightclub bouncer. He recounts sleeping in his car in San Francisco and strategically parking near a popular cafe frequented by startup investors. He reveals how he would act like he was ordering coffee and do some networking!
"The shocking thing is if you want a table inside of a restaurant, you will get it in less than 5 seconds on OpenTable. If you want a flight from LA to Austin, you will get it in 5 seconds from Kayak or Travelocity. . . Even jobs, you can find them immediately on Indeed. But guess what? When you search for 'yoga class near me' on Google, what you get is not a yoga class. It's not even close," states AbouElezz.
Ahmed also shares his vision for the platform to show nearby studios making it easier for users to make decisions based on their fitness preferences, as well as eventually be able to book directly. FITT Finder currently has the ability to filter based on location, date, time, budget, activity level, age, intensity, and availability.
They touch on potential collaborations, including partnering with Google to leverage their API and gain more exposure. An application like this is program like this is clearly long overdue . . . and we encourage you to reach out to Ahmed at FITT Finder to get your studio listed and to learn more.
Some key moments:
[00:02:17] Fitness industry lacks personalized and easy solutions for the consumer looking for nearby class listings (and more.)
[00:09:22] COVID led to unexpected success for FITT Finder.
[00:12:42] FITT Finder aggregates fitness activities and services based on location, categories, and preferences. It offers access to various channels, including live streaming and other options.
[00:13:31] Partnerships with travel companies benefit customers.
[00:19:16] Starting entrepreneurial venture without immediate revenue model.
A few key takeaways:
Click here to download transcript.
Connect With Us:
Instagram: https://www.instagram.com/thehaloadvisors/?hl=en Facebook: https://www.facebook.com/Integritysquare YouTube: https://www.youtube.com/@halotalks Twitter: https://twitter.com/thehaloadvisors LinkedIn: https://www.linkedin.com/company/integrity-square/ Website: https://www.halotalks.com
Loved this episode? Leave us a review and rating here: www.ratethispodcast.com/halotalks and don't forget to check out the HALO Academy for Executive Education opportunities.
Live from the floor of the March 2023 IHRSA Trade Show in San Diego, host Pete Moore welcomes Taylor Watkins, founder of Digital Revenue Systems. They discuss topics such as ancillary revenue via in-club ads, using local businesses to create an ad network, concerns around in-club advertising, and more. Digital Revenue Systems tailor their programs accordingly based on a club's goals and preferences, whether it be advertising, communication improvement, or employee engagement.
They emphasize promoting the club's services and encouraging early sign-ups for things like camps and events. They also suggest the unique idea of a rewards network created by the operator to incentivize members. They also discuss obtaining local sponsorships, leveraging internal relationships, and gathering information about members' workplaces for effective hyper-local advertising.
Taylor states, "One of the biggest concerns we always get right when we start talking about this to club owners is, 'Oh man, I really don't want advertising here.' I usually ask after that how many TV's they have. And they'll say around 15-20. I'll then ask, 'Well what is it showing?' The answer of course is something like ESPN or HDTV . . . which they're just not getting paid on . . . We've found that every club, even though they think they're the same, they're different, they all have their little nuances and we want to tailor our programs to them accordingly."
Some key moments:
[00:02:41] Signage companies takeover, revenue sharing, size concerns.
[00:03:44] Advertising concerns addressed, tailored strategies for success.
[00:13:02] Leveraging internal relationships for local sponsorships.
[00:13:53] New partnership with DRS, community involvement.
[00:19:23] Mistakes are opportunities, focus on clients.
[00:22:02] Grow industry, benefit members, build businesses.
A few key takeaways:
Click here to download transcript.
Connect With Us:
Instagram: https://www.instagram.com/thehaloadvisors/?hl=en Facebook: https://www.facebook.com/Integritysquare YouTube: https://www.youtube.com/@halotalks Twitter: https://twitter.com/thehaloadvisors LinkedIn: https://www.linkedin.com/company/integrity-square/ Website: https://www.halotalks.com
Loved this episode? Leave us a review and rating here: www.ratethispodcast.com/halotalks and don't forget to check out the HALO Academy for Executive Education opportunities.
Live from the floor of the March 2023 IHRSA Trade Show in San Diego, host Pete Moore welcomes special guest Paul Amoruso, Founder & CEO of bodQR. Paul discusses how his team solved an initial frustration for themselves, and then quickly realized they could sell the solution to other businesses in the space. The development of their software took years of iteration and testing different positionings and features.
They rolled the app out in waves to different target markets and believe there is a great opportunity in the HALO sector, especially for providers who want to deeply understand their members.
"The access for a member or a prospect is very simple. They scan a QR code with their smartphone if they're in a facility, or they could click a link if they're following it from an email or a website. They would take a minute to provide a little bit of information in our web app and maybe another minute to register . . . and they'd instantly be delivered a comprehensive body analysis along the lines of what you might get if you used a piece of hardware," states Amoruso.
Paul also highlights the lead generation potential of their tool and the company's commitment to providing a ten times return on investment for their subscribers. They discuss the possibility of offering additional tiers of service beyond basic subscriptions.
Like Pete, Paul also agrees that solving issues related to loneliness, diabetes, and obesity is where the future lies and emphasizes the importance of using bodQR to help people achieve desired results and help clubs end "member blindness."
Some key moments:
[00:03:27] Building, testing, and selling fitness software takes years.
[00:06:44] Access is easy via QR code/links. Comprehensive body analysis delivered instantly. Custom branded web app. Progression of analyses available, including goals and fitness diagnostics. Assessments take 2-5 minutes each.
[00:12:26] Struggling entrepreneurs need to assess their business.
[00:14:16] Consultative approach, hands-off doesn't work, 10x ROI, active role, tiers of service.
[00:20:48] Building business, making connections, solving problems.
A few key takeaways:
Click here to download transcript.
Connect With Us:
Instagram: https://www.instagram.com/thehaloadvisors/?hl=en Facebook: https://www.facebook.com/Integritysquare YouTube: https://www.youtube.com/@halotalks Twitter: https://twitter.com/thehaloadvisors LinkedIn: https://www.linkedin.com/company/integrity-square/ Website: https://www.halotalks.com
Loved this episode? Leave us a review and rating here: www.ratethispodcast.com/halotalks and don't forget to check out the HALO Academy for Executive Education opportunities.
Live from the floor of the March 2023 IHRSA Trade Show in San Diego, Pete Moore sat with Yvette and Neal McGaffin, Co-Founders of Reform RX to discuss the challenges and opportunities in the connected Pilates space, what it's like to get involved with manufacturing, and more!
They delve into strategies for the HALO sector during COVID, highlighting that partnerships with gyms and studios may be a more effective approach versus trying to go direct-to-consumer initially. They also emphasize the importance of considering various options when developing a business strategy.
The couple also discusses their (very winding!) four year journey of research and development to roll out the "Porsche" of the Pilates industry. Neal states, "QR codes! This is the (one) of the features that will stand you out from competitors. Scanning a QR code and allowing members to bring metrics to your users. . . .and for them to take away what they've done in your class" is a game changer for studio owners. Finally Neal and Yvette also talk about the emotional roller coaster of being a married couple running a business and staying positive.
Some key moments:
[00:01:58] Own studios, innovate, create Reformer, succeed!
[00:04:21] Connected fitness market strategies during COVID.
[00:11:37] Entrepreneurship, roller coaster, emotional management, success.
[00:15:50] Celebrate wins, not focus on losses.
[00:18:06] Flexible content library and equipment for workouts.
[00:19:29] Keep going! Perfect timing for Pilates market.
A few key takeaways:
Click here to download transcript.
Connect With Us:
Instagram: https://www.instagram.com/thehaloadvisors/?hl=en Facebook: https://www.facebook.com/Integritysquare YouTube: https://www.youtube.com/@halotalks Twitter: https://twitter.com/thehaloadvisors LinkedIn: https://www.linkedin.com/company/integrity-square/ Website: https://www.halotalks.com
Loved this episode? Leave us a review and rating here: www.ratethispodcast.com/halotalks and don't forget to check out the HALO Academy for Executive Education opportunities.
Live from the floor of the March 2023 IHRSA Trade Show in San Diego, Pete Moore sat with long-time fitness industry veteran Jarrod Saracco, Founder of the Health Club Doctor, to discuss the challenges and opportunities in the industry. This wide-ranging conversation touched on a ton including the importance of finding qualified and committed employees, and what are some of the key metrics to be aware of around unit economics.
Jarrod also offered some great advice on understanding the marketplace and the needs of your customers before building your business. If you're looking for the next big idea, you don't want to miss his tips on how to stay ahead of the game! On recruiting, he states, "One of the biggest problems in the industry, and I think in the world right now, is finding qualified employees. It's disappeared . . . some people don't want a real job. They don't want to come to work. That's a big problem."
And because Jarrod has served in nearly every position one can have in a fitness club, he's keyed into the "smaller" things as well that, unfortunately seem to have also disappeared. He's a fan of the personal touch and adding some personality to what you're doing. He states, "If you want to use Chat GPT, or you want to use AI to write messaging, that's fine. But you better edit it and put some personality and love into it and still pick up that phone. The effort sometimes is worth a heck of a lot more than the outcome."
This episode is a must-listen for anyone interested in the future of the HALO sector!
Some key moments:
[00:01:49] Fitness career at 16, now consulting entrepreneur.
[00:03:16] Transition from training to consulting, learning daily.
[00:07:04] Advisory and consulting roles explained briefly.
[00:09:41] Challenge: Finding qualified employees in HALO sector.
[00:17:20] Gym rescue and full-service concept completion.
A few key takeaways:
Click here to download transcript.
Connect With Us:
Instagram: https://www.instagram.com/thehaloadvisors/?hl=en Facebook: https://www.facebook.com/Integritysquare YouTube: https://www.youtube.com/@halotalks Twitter: https://twitter.com/thehaloadvisors LinkedIn: https://www.linkedin.com/company/integrity-square/ Website: https://www.halotalks.com
Loved this episode? Leave us a review and rating here: www.ratethispodcast.com/halotalks and don't forget to check out the HALO Academy for Executive Education opportunities.
Garret Marshall has been in the fitness industry for 20 years, starting way back (kind of "falling into it") in 2003. His first job was teaching swimming lessons to kids at Lifetime Fitness where he stayed for five and a half years. Prior to that, he was heavily involved in athletics growing up and playing hockey after school.
Over the years he had "every job you can think of" in the health club world. Garrett's currently President of Fitness Streaming for Xponential Fitness. He and Pete discuss how Xponential is investing in R&D to build out various digital platforms and making it a part of their revenue mix. They also chat about the history of personal training revenue and how digital platforms may only bring in / appeal to a smaller percentage of members. (Perhaps, at least initially.)
Marshall shares his insights on the importance of aligning bricks and mortar with online programming and connectivity for fitness businesses to succeed. Recounting the state of the industry years ago, he says, "I still remember back going back to the Fitness on Request days, when that was really the first product of its kind . . . and then you fast forward 10 or 15 years later and you see, well, you really can't have an elevated spin experience if you haven't incorporated technology that shows riders their biometrics performance metrics throughout the ride!"
This episode is a must-listen for anyone interested in the future of the HALO sector!
Some key moments:
[00:07:49] Fitness technology adoption evolved despite early objections.
[00:10:03] Managing technology overload and priorities.
[00:17:06] Xponential's Mission: Accessible boutique fitness worldwide.
[00:22:00] Personal training revenue: Don't worry, it's growing!
A few key takeaways:
Click here to download transcript.
Connect With Us:
Instagram: https://www.instagram.com/thehaloadvisors/?hl=en Facebook: https://www.facebook.com/Integritysquare YouTube: https://www.youtube.com/@halotalks Twitter: https://twitter.com/thehaloadvisors LinkedIn: https://www.linkedin.com/company/integrity-square/ Website: https://www.halotalks.com
Loved this episode? Leave us a review and rating here: www.ratethispodcast.com/halotalks and don't forget to check out the HALO Academy for Executive Education opportunities.
Jason Crowe has had a varied career in healthcare, spending the first 15 years in what he calls "reactive healthcare" in various roles. Feeling a desire to make a difference in the healthcare system, he transitioned to the HALO sector (Health, Active Lifestyle, Outdoor), joining Precision Nutrition as part of the business development and partnership program for four successful years. Crowe's experience in both reactive and preventive healthcare has made him a seasoned professional with unique insights into the healthcare industry.
Jason is currently Co-Founder and Partner at the SageHouse, a consulting agency to fitness and wellness founders and leadership teams, which also could potentially provide investment capital to help the industry continue to positively impact people's lives around the world. "We're really big fans of what we call infrastructure companies. The idea of building a brand is great . . . and something that we're super excited about is organizations that can come in and power the back end of somebody else's solution," states Crowe. Some key moments:
[00:04:45] Consider private labeling software for growth.
[00:09:27] Sales process and messaging misalignment for companies.
[00:13:08] Focus on specific opportunities for success.
[00:19:18] Healthcare, wellness, longevity, and fitness professionals' value.
[00:21:37] Experts specializing and forming care teams.
A few key takeaways:
Click here to download transcript.
Connect With Us:
Instagram: https://www.instagram.com/thehaloadvisors/?hl=en Facebook: https://www.facebook.com/Integritysquare YouTube: https://www.youtube.com/@halotalks Twitter: https://twitter.com/thehaloadvisors LinkedIn: https://www.linkedin.com/company/integrity-square/ Website: https://www.halotalks.com
Loved this episode? Leave us a review and rating here: www.ratethispodcast.com/halotalks and don't forget to check out the HALO Academy for Executive Education opportunities.
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