Franchise Euphoria Identifying and Infiltrating Gaps in the Market with Shred415 Co-Founders, Bonnie Micheli and Tracy Roemer
Bonnie Micheli and Tracy Roemer are the co-founders and owners of Shred415, a total body workout franchise system. Bonnie and Tracy met as young moms during a playdate in their Chicago neighborhood alley, the two began reminiscing on the past and their fitness hobbies. Frustrated between being a busy parent and the lack of sweat-worthy boutique fitness options that catered to their needs, the duo put together their 25 combined years of fitness experience and began mapping out a vision that combined all elements of a dynamic, effective workout that provided results.
Key Takeaways:
[0:22] Today’s episode of Franchise Euphoria is brought to you by The Franchise 5 package. Head over to franchiseeuphoria.com/franchise5 to learn more!
[1:01] Josh introduces today’s guests, Bonnie Micheli and Tracy Roemer, the cofounders of Shred415, a boutique fitness concept that has just started their franchising efforts.
[2:32] Josh welcomes Bonnie and Tracy to Franchise Euphoria.
[3:08] Tracy quickly recaps the story of how she met Tracy and what caused the two to bond.
[5:06] In 2010, Tracy and Bonnie recognized the lack of treadmill and strength studios in such a large metropolitan area in Chicago. Seeing their opportunity, they opened their first Shred415 location in 2011.
[8:12] Part of the design of their program is making sure everybody feels included and not intimidated by the atmosphere.
[10:47] Having a business partner that had the same vision as you for your dream really helped propel Shred415 to fruition.
[13:20] After seven years of business, Shred415 now has almost 20 locations, which is a fairly accelerated rate of growth for their industry.
[14:27] The second Shred415 location came about to be an overflow location for their main facility due to the fact that they were experiencing 100% sign up rates and an unimaginable wait list for their classes.
[18:35] Even though membership was few and far between in the beginning, they were still getting a lot of press in the early months, and as soon as people started seeing results, customers started showing up.
[21:09] Early on, Tracy and Bonnie weren’t sure how to go about bringing in employees to Shred415. They started with an ad on Craigslist, and although they only brought on one person from that ad, he is still with them today and just purchased three franchises from them.
[25:02] The toughest part about franchising their business was shifting their focus to dealing with corporate managers to franchisees, which requires a different level of attention since they are investing so much more in the business.
[28:56] Shred415 is open to opening locations all across the US with new locations coming in California, Denver, Memphis, and more.
[31:06] Thanks for listening, and please, reach out to Josh anytime through email at josh@franchiseeuphoria.com. If you enjoyed this interview, please leave us a review on iTunes.
Mentioned in This Episode:
www.franchiseeuphoria.com/franchise5
http://www.shred415.com/
https://bonnieandtracy.com/
https://www.instagram.com/bonnieandtracy/
https://twitter.com/BonnieandTracy