WTF Gym Talk cover image

WTF Gym Talk

Finding The Whitespace

Jun 16, 2023
20:36
Snipd AI
This podcast discusses the concept of whitespace and how to find opportunities in the fitness industry. It explores successful examples of businesses that have leveraged whitespace and the importance of visiting and learning from different models. The hosts also highlight the boutique open gym model of Iron Built in Virginia and emphasize the importance of finding whitespace opportunities.
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Podcast summary created with Snipd AI

Quick takeaways

  • Identifying the white space in the market between existing models allows entrepreneurs to create something unique and innovative.
  • Thoroughly investigating and studying various fitness models, including those that may not be desired, helps entrepreneurs gain insights and inspiration to create successful white space models.

Deep dives

Identifying White Space and Exploiting Opportunities in the Fitness Industry

When building a business, it is crucial to identify the white space in the market, which refers to the gaps between existing models and business models. This white space presents opportunities to create something different and unique. By studying successful brands and models, entrepreneurs can understand their strengths and weaknesses, identifying vulnerabilities that can be exploited. Field trips and multiple visits to different models allow for a deeper understanding of subtle but impactful elements. Taking the example of Alchemy 365, they loved CrossFit and CorePower Yoga but saw an opportunity for something in-between, leading to the creation of their own model. When exploring and investigating white space, it's important to consider models that you don't want to replicate, as this opens up possibilities for innovation and differentiation.

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