Alloy Personal Training Business

The most common reason that businesses fail is inadequate capital. But where is the money to fund a business found?This is the question we answer in today’s podcast episode.But even before we look at ways to fund a fitness business, do you know that you are several times more likely to get funding if you are going for a franchise.A franchise is a proven concept, and financiers know that you are more likely to succeed in a franchise than when you are on your own.Now, if you are looking for ways to fund a fitness franchise, the top 3 options are:Personal fundingSBA (Small Business Administration) Loan401K ROBS (Rollover for Business Startups)Tune in to this episode to learn the advantages and disadvantages of each of these three options and the best one to go for when funding a fitness franchise.Key Takeaways- How Alloy franchisees are doing (00:24)- Why getting funding for a franchise is easier (04:07)- Personally funding your fitness business (06:14)- Finding an investor to fund your business (08:04)- SBA loan – Alloy is an SBA approved franchise (10:00)- How you can use your 401K (without penalties) to fund a business (11:54)Additional Resources:Alloy Personal TrainingLearn About The Alloy Franchise Opportunity---------You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.If you haven’t already, please rate and review the podcast on Apple Podcasts!

This week, we reach a major milestone in the podcast. We are on the 100th episode…. And what a better way to mark this milestone than to look at where things are headed in the fitness industry post-Covid and what this means for the Alloy Personal Training Franchise brand and others.As gym owners and the fitness industry as a whole, the pandemic hit us badly; nobody could have prepared for the disruption we witnessed.However, with the successful rollout of the vaccines and the fact that people are getting out more and being comfortable going back to the gym, there are important evidence-backed observations we are seeing in our brand and across the industry.The first thing is the growth of small group personal training. Across the industry, we are seeing more and more brands pivoting to this model.The accountability, specificity, and community that this model offers are what the customer wants.As Alloy, we have been doing this for a long time, and as Matt and I have always said in this podcast, this is the model of the present and the future. We are happy that the fitness industry and the customers are coming around to it.Listen in to hear our thoughts on the state of affairs of the fitness industry and what the data we are seeing tells us!Key Takeaways- How things are looking in the Alloy mothership gym (01:36)- Growth of the small group personal training post-Covid (03:50)- Who the small group personal training is the best for the customer (08:16)- Brick and mortar is here to stay (10:42)- The fate of digital fitness (11:28)- Health and wellness awareness post-Covid (14:53)Additional Resources:Alloy Personal TrainingLearn About The Alloy Franchise Opportunity---------You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.If you haven’t already, please rate and review the podcast on Apple Podcasts! 

What’s holding you back from your entrepreneurial dream? Rick and Matt reckon that fear is what is preventing you from taking the next step.In this episode, we break down the three common fears that we see mostly with our franchise candidates and what holds them back from owning a fitness business even when they understand the opportunity that exists in the industry.Being in the franchise development seat at Alloy Personal Training Franchise and being a fitness entrepreneur for more than 30 years himself, Rick is well placed to assuage these fears for any aspiring entrepreneur.Listen in to learn of the opportunity that exists in the fitness industry and why you shouldn’t let fear hold you back from taking the next step.Key Takeaways- The No 1 thing that keeps people from owning a franchise (02:44)- How to assuage the fear of lack of knowledge when starting a fitness business (05:09)- Is perception from family and friends holding you back (08:21)- Fear of failure (10:45)- Why you shouldn’t be afraid to bet on yourself (12:07)- How to overcome the fear of no talent (14:26)- The advantage of being on an Alloy Franchise (16:25)Additional Resources:Alloy Personal TrainingLearn About The Alloy Franchise Opportunity---------You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.If you haven’t already, please rate and review the podcast on Apple Podcasts! 

One of the most rewarding things in business is experiencing continued growth, and vice versa is true. Many gym owners are often frustrated by the lack of growth in their fitness business.In this episode, Rick and Matt break down the four reasons why your fitness business is struggling for growth. Address these four issues and kiss stagnation goodbye.One of the reasons is risk. In a fitness business, risk for customers might be scared of getting hurt, or paying money and not achieving their goals, etc. As a gym owner, it is your responsibility to mitigate this risk, and one of the best ways to do so is through a starting point session.Click Play to learn of the other reasons and how to specifically address them to grow your fitness business.Key Takeaways- How to mitigate risk to grow (01:44)- Is there friction to do business with you (04:45)- Does your fitness business require stool samples from clients? (07:46)- What’s your difference maker (10:52)- What is your success proposition (14:25)- The power of social proof (15:06)Additional Resources:Alloy Personal TrainingLearn About The Alloy Franchise Opportunity---------You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.If you haven’t already, please rate and review the podcast on Apple Podcasts!

In this episode, Matt and Rick discuss whether or not you should make a wholesale change to your current business model. Spoiler alert- it could mean more profit and less drama!As a gym owner, changing your business model can be a tough call to make. But sometimes, it’s the only viable option to solve the problems you face in the gym and, while at it, increase your profitability.Part of being an entrepreneur is realizing that your business model is not cast in stone. Remember Episode 94, where we talked about the Ugly Baby Syndrome and how it can affect your business?For example, here at Alloy Personal Training, we changed our business model to small group personal training for the sake of simplicity, more scalability and, more profitability.In fact, this change fixed most of the problems we were experiencing with the previous model, such as scheduling, complexity, and high churn rates.Listen in to learn why you should consider changing your business model to solve your business problems and increase profitability!Key Takeaways- Should you change your fitness business model? (01:46)- The Ugly Baby Syndrome (05:43)- What are the resources needed to drive your model? (06:04)- Are you a marketing business that does fitness on the side? (08:34)- Know thy numbers (09:30)- Keep your fitness business model simple (12:03)- Evaluating the ROI of your model (14:32)Additional Resources:Alloy Personal TrainingLearn About The Alloy Franchise Opportunity---------You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.If you haven’t already, please rate and review the podcast on Apple Podcasts!

This week we discuss the healthy friction between business systems and team flexibility.As an entrepreneur, systemizing your business is vital to the growth of your business. However, where do you draw the line between systems and giving your employees enough autonomy to make decisions when certain scenarios present themselves?In the fitness industry, we are in the people business, and even if you have the best systems, there will always be some scenarios that call for your team to be flexible enough to make a decision to meet the needs of the customer.Rick recommends that you have healthy friction between systems and team flexibility but have some guardrails in place that limit how far that your team can go.Listen in to learn how to run tight systems in your fitness business while still providing enough autonomy to your team to make customers happy.Key Takeaways- Why you need some flexibility within your team (01:24)- How to introduce flexibility in a personal training business (02:39)- Employees are happier if they have some autonomy (03:20)- Giving your team leeway to make decisions (04:29)- Are your customers happy (05:56)Additional Resources:https://alloypersonaltraining.com/Learn About The Alloy Franchise Opportunity: alloyfranchise.com---------You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.If you haven’t already, please rate and review the podcast on Apple Podcasts!

This week, Matt and Rick discuss the brand promise of Alloy Personal Training. It's very important that you put your flag in the ground in regards to your brand and then build the right machine to meet that promise.As a fitness entrepreneur, what do you really believe in? What is your fitness philosophy? This is the starting point to building a brand promise.Once you've figured out your brand promise and your customer archetype, then you can build a machine around it and take it to the market as your business.If you deliver consistently on your brand promise, your business becomes more credible in the customer's eyes.Here at Alloy Personal Training, our brand promise is Look Good, Feel Great, Live Life to the Fullest. To deliver on this promise, we incorporate three pillars.Listen in as Rick and Matt explain how we deliver on our brand promise here at Alloy Personal Training and why it has proved right for the last 30 years!Key Takeaways- What do you really believe in? (02:17)- Strength training for our customer archetype (03:54)- Why do your clients come to the gym (08:46)- Pushing mindset change around exercise (12:17)- How eating less is a huge predictor of lifespan (13:14)- Lifestyle movement (19:19)- Sleep is a big deal (21:44)Additional Resources:https://alloypersonaltraining.com/Learn About The Alloy Franchise Opportunity: https://alloyfranchise.com/---------You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.If you haven’t already, please rate and review the podcast on Apple Podcasts!

In this episode, Matt and Rick discuss the "ugly baby" syndrome and how it can affect your business. Spoiler alert- your one and only lens should be your customers' needs and not your personal passions.Every parent thinks their baby is the cutest little bundle of joy in the world. This is okay, but as entrepreneurs, we are the mothers of our businesses, and it would be a fatal mistake if we fell in love with our product or service and treat it as a cute little baby.In the fitness industry, we have seen many gyms and trainers try to force their passions on the customer. Your customers don't care about your passion for your product. Passion may help you wake up early and work hard, but it won't make people buy your product.As a fitness entrepreneur, you should be solely focused on meeting your clients where they are at. Helping them achieve their goals and improve their lives. If you're looking at an Alloy Personal Training Franchise, just know that all the programming, marketing, and everything we do is done through the lens of the consumer. That's why our model is strong, markets well, and has a higher client lifetime value!Join in the conversation and learn more about the Ugly Baby Syndrome and how it applies to your fitness business.Key Takeaways- Nobody cares about your passion for your product (03:20)- Why McDonald's is so successful (04:45)- The only reason customers buy your product (05:37)- Customers are not buying your passion (07:44)- Focus on what the customer wants (09:31)- What makes a good fitness coach? (11:48)- Who cares (14:06)- Why the Alloy Franchise model markets well (15:47)Additional Resources:https://alloypersonaltraining.com/Learn About The Alloy Franchise Opportunity: https://alloyfranchise.com/---------You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.If you haven’t already, please rate and review the podcast on Apple Podcasts!  

The Alloy Personal Training Fitness Brand has grown in leaps and bounds over the last 25 years to where we are right now; licensing and franchising thousands of clubs worldwide.Part of the reason for this growth is the opportunity that lies in going for the lucrative over-50 market.This demographic holds over 70% of America’s disposable income and continues to grow in numbers. In fact, it can be said to the wealthiest generation of all time.Intriguingly, only 5-10% of marketing dollars are targeted towards this demographic.In the fitness industry, the data shows that this demographic can afford higher-priced memberships, have higher retention rates, and hence has a higher client lifetime value.In addition, most of the players in the industry are still focused on the younger demographic hence lower competition for the over-50s.Tune in to this great conversation as Rick and Jay discuss the power of this lucrative market and the opportunity it offers to fitness entrepreneurs, and how to market to them.Key Takeaways- Why the Alloy Franchise targets the 50+ market (01:26)- Why training older individuals is similar to training pro athletes (03:40)- The empirical evidence that supports targeting an older demographic (07:27)- The ideal Alloy Franchisee (14:22)- How to market to over-50s effectively (18:41)- The power of success stories in attracting people to the gym (21:57)Additional Resources:https://alloypersonaltraining.com/Learn About The Alloy Franchise Opportunity: https://alloyfranchise.com/---------You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.If you haven’t already, please rate and review the podcast on Apple Podcasts!

Last week, we talked about Dunbar's number and why it's critical to the success of your fitness business, especially when determining the ideal number of members in a gym.Today, we build on this by discussing the approach we use to determine the ideal client capacity in a personal training fitness model.We also speak of the percentage of capacity that is actually attainable in a gym. Most gym owners will often paint a rosy picture of being always full, but this is not the reality. In our model here, we usually hit 80% scheduling efficiency, which is a good metric. Tune in to hear of the simple formula we use to determine client capacity in the Alloy personal training model and how the revenues work out. Key Takeaways- How we work on capacity (02:53)- How to store your gym equipment to facilitate different workouts (03:37)- Small group personal training model capacity formula (05:06)- Why selling unlimited sessions is not a good idea (08:45)- How to track the efficiency of your scheduling (09:52)- Modeling revenue for your ideal capacity (11:05)Additional Resources:https://alloypersonaltraining.com/Learn About The Alloy Franchise Opportunity: https://alloyfranchise.com/---------You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.If you haven’t already, please rate and review the podcast on Apple Podcasts!