Ep.29 - Colin Waggett, How gambling a £500m career to start afresh can pay off.

Few people know the importance of tailoring your offering to a customer base better than Colin Waggett, CEO of Third Space. He’s the master of grasping opportunities at the ideal time to bring growth and new offerings to members interested in London luxury.

Watch the full episode on YouTube – https://youtu.be/fsHuhNOddj4

Colin’s professional background in hospitality, finance and casinos brought him to realise his passion for fitness is only matched by his ability to drive progress, implementing this wealth of experience.

Since joining the industry, he’s headed up a £500m company to thrive in over 20 countries and, today, provides outstanding fitness spaces that members feel are their own.

Following seven years at Fitness First as CEO, Colin went on to co-found a venture into the boutique market with Psycle. This enabled the entrepreneur of opulence to continue to learn about himself in a smaller, premium offering, including discovering the different challenges that every business goes through during growth trajectories.

Of course, the work is never done, with behind the scenes propositions in his current venture, Third Space, ever expanding – evolution is always on the cards. While the focus is on London, listen to find out where the next direction is heading.

Third Space bills its locations as London’s luxury health clubs, providing outstanding fitness spaces that members feel are their own, and the description doesn’t disappoint.

Another_Space offers three class concepts: yoga, cycle, and HIIT. These are pay-as-you-go offerings in two London locations.

Colin and his team have found the magic ingredients of theatre, community and innovation, fulfilling members’ love of the “new.” This implemented in fitness offerings, whether group sessions, climbing, cardio or any aspect of functional fitness, ensures that this is a best-in-class business compared to the competition, complemented by every other facility in the clubs to ensure the highest quality of experience.

 

Episode Highlights: 

• How you can use the benefit of hindsight to implement lessons learnt for future opportunities.
• The importance of differentiation and how to stand out with a fitness offering and great service that brings balance to any member’s life.
• Design is vital. How can you inspire your members or customers through ambiance alone, to complement everything else your business offers.
• What is the future of the boutique? Will people leave traditional clubs and migrate? Will they stay in full service gyms? Will members continue choose between the two?

  

Join Matthew Januszek in conversation with Colin Waggett of Third Space….

 

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