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In today's episode, host Pete Moore talks with Lauren Schoenfeld, founder of Active Core Consulting and a powerhouse fractional Chief Financial Officer (CFO) specializing in the boutique fitness space. With an impressive finance background spanning PwC, WeWork, and Equinox, Lauren has a unique blend of skills in the HALO sector (Health, Active Lifestyle, Outdoors) to help studios and gyms not only survive but thrive. She relays her journey from athlete to finance entrepreneur, the creation of her consulting agency during the pandemic, and how her team supports fitness businesses with everything from streamlined financial and business planning, to holistic sales and operations coaching.
Schoenfeld dives into common financial pitfalls fitness operators face, why understanding your KPIs on a weekly and monthly basis is critical, and her hands-on approach to guiding owners toward sustainable growth and profitability. Whether you're struggling to get your cash flow under control, looking to scale to multiple locations, or simply want to run a tighter ship, this episode is packed with practical advice, real-world studio benchmarks, and Lauren's "just ship it" mantra. Tune in for an insightful conversation that's critical listening for anyone in the HALO space aiming to manage, measure, and ultimately maximize the value of their business.
On the power of personal connection in the digital space, she states, "I also think that because our world has become so digital, even having the front desk team learn how to have conversations with people that are coming into the studio is a huge area of opportunity that we help our clients with."
Key themes discussed
A few key takeaways:
1. Strong Financial Foundations Are Essential, Not Optional: Lauren highlights many fitness studio owners lack a true understanding of their finances. She says it's not just bookkeeping that's missing but a real, hands-on understanding of cash flow, profitability, and Key Performance Indicators (KPI's.) Solid financial processes and regular P&L reviews help owners avoid surprises, make better decisions, and ultimately set themselves up for growth or a potential exit.
2. Fractional CFOs Offer Comprehensive Benefits: Lauren's firm, Active Core Consulting, provides not only CFO-level guidance but holistic support—combining bookkeeping, financial modeling, three-year business plans, and ongoing operational consulting. This all-in-one approach is especially valuable for boutique fitness studios needing more than just a traditional bookkeeper or an accountant.
3. Regular KPI Tracking Drives Better Outcomes: She stresses the importance of tracking KPIs weekly (and monthly)—not just revenue, but also leads, intro offers, membership sales, and class packs. By setting benchmarks and monitoring progress, studios can make fast changes and improve their results over time.
4. Sales and Operations Training is Often the Missing Link: Lauren found that many studios simply didn't have a solid sales process, clear guidelines, or strong community marketing strategies. Her agency often helps struggling studios by focusing first on sales and operations coaching—sometimes before touching the financial model—believing operational tweaks can quickly stop the bleeding and boost revenue.
5. Entrepreneurial Flexibility Can Beat Franchise Rigidity: While franchises promise a business-in-a-box, Lauren sees real opportunity for independent owners (and even franchisees) to create more tailored systems that genuinely fit their vision, rather than following (in many cases) overly-rigid franchisor mandates. Her team encourages owners to build scalable, profitable businesses with proven frameworks but without unnecessary constraints.
Resources:
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
===================================================
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, host Pete Moore reconnects with longtime friend and fellow Emory University alum, Marcus Gordon. They dive into the significant evolution of endurance sports over the years, and the business opportunities surrounding the endurance athlete community. Marcus shares his journey from collegiate athlete and marketing professional to passionate triathlete and entrepreneur—highlighting the explosive growth in triathlons, marathons, and ultra events across the globe.
Pete and Marcus chat about the gaps in the market for facilities catering specifically to endurance athletes, the concept behind Marcus's upcoming venture Endurance Ohana, and how advances in tech are transforming training and competition prep. They also touch on the importance of community, the power of simulation-based training, and what makes a truly next-level fitness experience for serious endurance enthusiasts. Marcus pulls back the curtain on his exciting plans for a destination-style facility focused on not just performance, but recovery, community, and the full spectrum of an athlete's needs.
On 'viral' indoor cycling tech, Gordon mentions, "You'll be able to ride the entire Ironman Hawaii course on your trainer. And except for the wind on your face and the sun glaring down your back, you get every element of that course in terms of being able to see who's in front of you, who's behind you, the elements of going up a hill, coasting down a hill, and so on. We can bring that environment indoors and people love doing that!"
Key themes discussed
A few key takeaways:
1. A New Kind of Performance Center: Marcus is launching "Endurance Ohana," a boutique gym and performance center specifically catering to endurance athletes—everyone from 5K runners to Ironman competitors. While traditional gyms have amenities endurance athletes use, none are truly targeted at this community's unique needs.
2. Community and Experience at the Core: The concept centers on the Hawaiian term "ohana," meaning family and community, emphasizing a supportive, communal environment. It's not just about physical training, but also bringing together passionate individuals with similar goals in a space specifically designed for collective motivation and support.
3. High-Tech, Multi-Disciplinary Training: The facility will also feature cutting-edge options for swimming, arena-style cycling (with advanced indoor trainers, including options to bring your own bike), running, strength, mobility, and top-tier recovery options like cold plunges and saunas. There's a major focus on integrating tech for tracking and simulating real-world race conditions.
4. Training, Recovery & Content Creation: Beyond just equipment, Ohana will offer full support: Nutrition, recovery, strength, mobility, and even social media and content creation resources. The facility looks to be a true "third place" for athletes, complete with recovery lounges and podcast/video studios.
5. A Premium Membership for a Passionate Community: Expect a high-end experience, with membership hovering in the $300+ per month range. This reflects both the deeply invested target audience (endurance athletes already spending heavily on gear and races) and the all-inclusive nature—training, recovery, storage, and community all under one roof.
Resources:
On today's episode, host Pete Moore sits down with Emma and Ben Stallworthy, the husband and wife team behind the Melbourne-based, Your Reformer. With a foundation built on serial entrepreneurship and a huge passion for Pilates, Emma and Ben share their story from reviving a rundown health club to scaling a successful chain of gyms, and ultimately selling their business to a major player.
They dive into the challenges of pivoting from brick-and-mortar to launching their own Pilates equipment and digital content venture, all while (trying!) to balance family life, married life, and staying true to their values. Listen now for some candid conversations about risk-taking, jumping on opportunities, and why they believe the future of wellness lies in making Pilates accessible anytime, anywhere, and for anyone.
On knowing your bottom line during negotiations, Emma states, "Make sure you're equipped with the right advisors around what is a realistic valuation that you can have some wiggle room in negotiation to move with. You should know, what's my bottom line, what would I walk away from, and what am I comfortable with? This way, you can then go in there and be comfortable with either decision and have no regrets."
Key themes discussed
A few key takeaways:
1. Entrepreneurial Spirit and Diverse Ventures: The couple's journey highlights their strong entrepreneurial drive. From purchasing a rundown club at 22, to experimenting with other unusual businesses, they've shown a knack for identifying and chasing new opportunities. Their evolution to focusing on one "core thing" (Pilates, with Your Reformer) demonstrates the power of learning, adaptation, and focus.
2. Building, Growing, and Exiting a Fitness Chain: They took a failing gym, revamped it, and eventually scaled to six clubs (Pinnacle Health Clubs) by innovating early—like introducing 24/7 access before it became common. This alone doubled their membership! Their ability to consistently listen to member needs and adapt offerings was essential for sustained growth, culminating in a successful exit to Viva Leisure.
3. Pilates and Boutique Wellness as a Growth Engine: The pair recognized Pilates—specifically Reformer Pilates—as a critical differentiator and a driver of future growth. By integrating boutique wellness elements into their clubs, they expanded the appeal and unlocked additional revenue, with up to 30% of members opting in for premium wellness options.
4. Navigating the Acquisition Process: Emma and Ben shared valuable advice on selling a business: When a strategic buyer comes with an offer, don't let personal attachment cloud your judgment! They stressed the importance of getting solid advice, knowing your worth, negotiating from a position of strength, and recognizing that the first offer is often the best. Detaching emotionally and staying commercially minded is crucial.
5. Transitioning to Product and Digital Solutions: After their exit, they transitioned from brick-and-mortar gyms to manufacturing reformer Pilates machines and digital solutions, supplying both commercial facilities and the home market. Your Reformer meets the needs of major gym chains to home users, making Pilates more accessible without breaching any non-compete. They've combined design, content, and hardware into user-focused solutions, leveraging insights from hands-on, member-facing experience.
Resources:
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
===================================================
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 today's episode, Integrity Square Founder Pete Moore dives into the roots and current landscape of private equity (PE) — and why it matters to literally 𝘦𝘷𝘦𝘳𝘺𝘰𝘯𝘦 in the HALO sector. Ignore at your own peril.
• PE's Evolution: PE started when changes like the Prudent Man Act allowed institutions (think university endowments and pension funds) to invest in private companies. This ushered in a new era for higher-risk, higher-return investments.
• The PE Playbook: Early pioneers like Kohlberg, Kravitz & Roberts (KKR) built the model we see today: Acquire private companies, add layers of financing, optimize operations, make additional add-on acquisitions, and resell for higher multiples and strong returns over a 5-7 year hold period.
• PE's Widespread Impact: For better or worse (more on that in future videos) private equity now owns major brands across industries (including popular gym chains and franchises in the HALO sector.) Their involvement accelerates change, competition, and operational improvement—if you're in the industry, you're either a target, a competitor, or a potential partner.
If you missed our video about EoS Fitness, we touch on that here: https://youtu.be/CQtaGUQIyxY
Want to learn more? (You should. Otherwise you're playing checkers while the rest of the industry plays chess.)
Give us 10 hours of your time at the next HALO Academy starting June 24th. Register at https://www.thehaloacademy.com now for $495 and earn a $100 gift card from our friends at Promotion Vault. Testimonials at https://www.thehaloacademy.com/testimonials
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Thanks to Promotion Vault and HigherDose for sponsoring. For 15% off products sitewide (excluding bundles, kits, and full saunas) use the code GOHALO at https://tidd.ly/4l1WXEf
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
===================================================
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 reconnects with Jaja Jackson, a longtime friend and fellow Harvard Business School alum, for a deep dive into the intersection of real estate, hospitality, and health. Jaja shares his path from developing homes and communities, to joining Airbnb in its pivotal years, where he helped bridge the gap between multifamily housing and the (then) cutting-edge world of home sharing. Now a leader at ICONIQ Capital, Jackson discusses how his team has reimagined multifamily properties to boost net operating income and create vibrant, HALO-focused communities. (Health, Active Lifestyle, Outdoors.)
Pete and Jaja explore how many lessons from hospitality and flexible living can--and probably should--carry over into the health club industry—emphasizing the importance of relationship-building, curated experiences, and bringing on top-tier talent. They discuss the role of loneliness in today's health crisis and offer actionable ideas for club operators, from employing inspiring staff to forming innovative partnerships with residential buildings. Jackson provides solid suggestions and practical takeaways from outside the industry that any club operator would do well to take seriously. Listen now for this fresh perspective on elevating the HALO sector.
On increasing the yield in multifamily without major renovations, Jackson states, "All you're doing is changing the operator and in some cases investing in furnishings to extend the value and the operation of your amenities in common spaces . . . that translates into an unlevered yield increase of between 1 and 5 or 6%. And it's tremendous!"
Key themes discussed
A few key takeaways:
1. Transforming Multifamily Real Estate Through Flexible Living: Jaja shared his experience moving from "traditional" real estate development to pioneering "flexible living" while at Airbnb and now at ICONIQ Capital. By blending hospitality concepts with class A multifamily buildings, he helped create new asset value and returns, boosting net operating income by 15–40% without expensive renovations.
2. The Power of Trust and Experience in Merging Hospitality & Real Estate: Initially, the biggest hurdles were skepticism and trust issues from large apartment owners about the idea of short-term rentals. Jaja and his team addressed this by building software and policies ensuring resident safety and a trusted experience, paving the way for programs like Airbnb's Friendly Buildings.
3. Culture and Personalization Are Game Changers in Health and Fitness: Drawing parallels to the health club space, Jaja highlights that the sector is overdue for a hospitality-like approach—moving beyond transactional relationships to foster real community and deep personalization. He suggests health clubs can learn from hospitality by knowing members' needs, supporting their goals, and making every interaction memorable.
4. Building Community and Combating Loneliness: Both in multifamily living and health clubs, facilitating real connections is crucial. Jaja's approach includes encouraging residents to meet each other through fitness amenities and group activities, even integrating professional athletes as resident "ambassadors" to inspire and engage. He strongly believes in addressing not just physical health, but also combating loneliness and building social connections as a core part of wellness.
5. Talent and Ownership Mindset Are Critical: Whether in property management or fitness clubs, success hinges on having the right people—those who think like owners, have charisma, and are invested for the long term. Jaja and Pete both emphasize the importance of intentional hiring ("pay for talent") and instilling commitment, suggesting businesses treat employee recruitment and culture-building as vital investments, not afterthoughts.
The statements by Jaja are not investment advice and do not represent ICONIQ Capital or Airbnb.
Resources:
𝗛𝗔𝗟𝗢 𝗧𝗮𝗹𝗸𝘀 𝙁𝘼𝙎𝙏𝘽𝙍𝙀𝘼𝙆-𝗔𝗱𝗱 𝗠𝗼𝗿𝗲 𝗖𝗹𝗮𝘀𝘀𝗲𝘀!
🚨 Calling all boutique fitness studio operators! 🚨
Integrity Square Managing Partner & Founder Pete Moore is back as "Dr. HALO", and this is a must-hear for anyone running a boutique fitness studio. He's not mincing words either: If you're only running a few classes a day and wondering why you're struggling, it's time for you to look in the mirror. A few things:
Increase Class Frequency Most boutique fitness studios simply aren't offering enough classes. If you're only open for a few hours or offering just 2-3 classes a day, you're shooting yourself in the foot. More classes equal more revenue opportunities—don't sell yourself short by playing it safe.
Maximize Revenue per Hour, Not Just per Class Look at Southwest! This is also an hourly business. Every hour you don't run a class is a lost opportunity for revenue. Running a business on "airline logic" means utilizing your space as much as possible throughout the day.
Go Beyond Your Core Demographic Stop telling yourself there aren't enough people in your area who want to work out! From soccer moms to assisted living residents, triathletes to brunch-goers, Get creative and dig into who else could fill seats in those classes at different hours. There are always more opportunities than you think—if you're willing to do the work.
Think Like a Multi-Use ArenaLook at yourself as Madison Square Garden, not just a single-purpose facility. That means filling your space with a variety of offerings—different types of classes, events, even partnerships—to maximize usage, build community, and drive revenue.
You're Responsible for Creating Value Tough Love Time: If your studio isn't open enough, not generating revenue, and feeling like a victim—change it. Create true value by filling time slots, building community, and serving new demographics. Buyers only want valuable, profitable businesses, not ones that are break-even or losing money. Value is built—so get to work!
Stop playing small, fill your calendar, and serve your community. Start thinking bigger. Go HALO!
Resources:
Kyria Sabin began her journey with Pilates in 1991 while living in Los Angeles and working as an art gallery director. Teaching Pilates was never part of her original path. However, her lifelong interest in fitness led her to eventually catch the bug for Pilates. After attending a workshop with renowned Pilates "Elder" Ron Fletcher, he encouraged her to teach the method, though she initially resisted. Despite her intentions to head to law school, Kyria's passion for Pilates ultimately changed her trajectory, shaping her future as a leading educator in the field.
Pete and Kyria continue on to discuss the origins of Fletcher Pilates, the evolution of teacher training, and what sets Pilates apart as a transformative practice with remarkable return on time invested. She opens up about the rigors of Pilates instructor certification, the expansion of Fletcher Pilates' international licensing program, and how the method's focus on quality movement has led to life-changing results for clients of all ages.
On international expansion Sabin states, "After we developed the program, we had people coming in from Asia, Europe, South America . . . all wanting to study his [Ron's] lineage of the work. We quickly realized is that we could reach many more people if we sent teachers to those countries."
Key themes discussed
A few key takeaways:
1. Pilates as a Transformational Practice: Sabin's experience highlights how Pilates isn't just about exercise—it's about quality movement, efficiency, and transformative change in both mind and body. She shares her experiences being a client to realizing the profound physical benefits, describing it as a return on time investment with fantastic results.
2. Rigorous Teacher Training and Legacy: Unlike quick certifications in other fitness fields, becoming a Fletcher Pilates instructor is a comprehensive process that can take up to two years. Sabin emphasizes that students must first experience the work deeply themselves before teaching, underscoring the importance of depth and mastery in the method.
3. Pilates' Global Reach: The growth of Fletcher Pilates worldwide happened both organically and intentionally. Demand from students in Asia, Europe, and South America led to a licensing model, making it possible for people to access quality teaching without always having to travel extensively. This preserves the lineage while also expanding its reach.
4. Pilates for All Ages and Backgrounds: Kyria advocates for Pilates as a lifelong practice accessible to everyone from young people to seniors. She's seen significant improvements in posture, strength, and balance at all ages, and challenges the notion that older adults are limited to just "maintenance."
5. Personal Touch Still Matters: With the continued emergence of online and at-home Pilates offerings, Kyria remains firm on the value of in-person training, especially at the start of someone's practice. She believes the energy, supervision, and personal connection play a significant role in a student's success and safety, calling remote work more supplemental than foundational.
Resources:
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