We all are familiar with the concept of entrepreneurship. Now, to fit in the definition of a successful entrepreneur the most important factors are tenacity and knowledge. One must possess the knowledge of their skills and how these skills can further be augmented. Likewise, great entrepreneurs are not quitters, they never give up. As the great Thomas Edison quotes, “Many of life’s failures are people who did not realize how close they were to success when they gave up.”
Rick Mayo started his journey in 1992, with his original personal training studio in Roswell, Georgia. Being familiar with his know-how and skillset, he cultivated them and transformed his path to downright success and going strong till date. The popular fitness entrepreneur, Rick Mayo started the Alloy Personal Training platform in 2010. What started as a platform soon morphed into one of the leading fitness experts. Alloy’s customized client programs, business systems, and technology tools grew to serve over 2,000 licenses existing gym and fitness facilities worldwide.
Rick is the Founder and CEO of Alloy Personal Training. Apart from outlining prosperous strategies, his roles involve core CEO responsibilities, community relations, networking, and franchise development. Hailing to his rich experience, Rick is a highly sought-after keynote speaker and has globally offered expertise on fitness and business trends. He is one of the most recognized leaders in the fitness arena and has been an advisor for organizations such as the Gold’s Gym Franchise Association and the American Council on Exercise, among others.
Acknowledging the success, and intending to have greater control over the brand and member experience, in 2019, Rick shifted from the licensing model and launched the Alloy Personal Training franchise. Alloy is the combination of expertise and excellence, and this change in strategy enabled the company to deliver a turnkey franchise opportunity. This opportunity encompasses the entire personal training business model from built-out design, equipment, business systems, technology platforms, and marketing under the Alloy brand. The Alloy brand was awarded as the Fitness Business of the Year, 2019 by the Association of Fitness Studios.
Cutting-edge Science Meets Real World
Alloy Personal Training fitness has customized personal training programs that were created in 1992. These programs are built on a straightforward philosophy of ‘people who get personalized coaching get better results.’ This philosophy has helped Alloy’s training programs to be ranked amongst the most effective personal training and fitness assessment programs in the world for helping people achieve their desired fitness goals.
Alloy has a team of physiologists, therapists, dieticians, and other advisory board behavioral specialists who support the Alloy fitness franchise concept in delivering a customized personal training program where cutting-edge science meets real-world, in-the-trenches experience.
Futuristic Fitness Model
Alloy’s franchise model fits perfectly as an outstanding example for the future fitness industry. This new-age model is crafted by considering the capacity and keeping a safe, healthy, and efficient environment for clients. Its growth proposition is supported by both the underlying near-term and long-term trends. When one evaluates any business opportunity customer retention and lifetime value, profit margin, and the ratio of investment to revenues are important metrics to consider. If we evaluate Alloy’s retention rates and revenues per member, the numbers depict some of the highest in the industry. Moreover, its start-up investment requirements are reasonable. The Alloy Franchise business model is preparing franchisees, owners, and operators to be ready for the fitness industry resurgence.
Alloy’s team maintains excellence across their clients and franchise owners alike. It takes pride in training a new personal training franchise owner as they do with one of its personal training club members. Being on the receiving end, you will get an opportunity to offer customized personal training solutions while utilizing what you learn from the Alloy management team to build a dynamic personal training franchise and successful business.
Why choose Alloy Personal Training Franchise?
Under the Alloy personal training franchise support program, the franchise owners will receive all the franchise management tools one will require to make a real impact on the clients and the future.
- Higher-End Fitness Services and Personalized Offerings
While considering the future of the fitness industry, this aspect of personalization becomes highly vital. As people migrate to gyms and boutique studios with varying goals, injuries, priorities, and desires, it will become especially important for gyms to cater to these personalized and specific desires. The gyms that do this best will be the ones that continue to grow in the coming years.
- Convenient Offerings
With the introduction of concepts like on-demand fitness offerings, digital courses, and personal training, gyms have become remarkably convenient.
- Blends of Technology and Human-To-Human Interaction
Traditionally, gyms were more about one on one training, but the amalgamation of technology the fitness experience has fairly revolutionized. Today the customers are aware of their bodies and what they want to focus on. The function of the gym is to deliver a combination of personalized training and tech-assisted convenience that can help customers reach their goals.
“Franchising is a great business model that enables people to get into their own business while relying on the experience and tools of experts like those at Alloy,” asserts Rick. There is research confirming that people are happier and more fulfilled when they are in business for themselves. Franchising enables people to reach their goals of entrepreneurship with less risk.
Speculations Backed by Data
Franchising is currently one of the most popular in the business landscape. Inspecting the demand for fitness services in the US, there has been significant growth for the past few decades. According to data from Statista, the health club industry is worth more than $96 billion globally with about 174 million clubs spread out around the world. Besides, in the US the membership fees at health clubs account for about 60.4% of the total industry and there are about 41,370 clubs throughout the country.
With the global health emergency surrounding us, people’s outlook towards health has also transpired. The fitness industry is burgeoning, despite the challenging tidal wave of COVID-19. This is also hinting towards significant opportunities that would exist post-COVID-19. Sharing his thoughts on the post-COVID trends, Rick adds, “Many business leaders are optimistic about the economy in 2021 and in the decade ahead as the COVID pandemic diminishes over the year experts expect a surge in business due to pent-up demand.”
Rick believes that the right fitness concepts have great growth potential. This speculation is backed by Deloitte’s research that demonstrated that there is a shift underway in health care from measuring illness to preventing it. People are going to increasingly have to become CEO of their own health. This applies to all adults but is particularly relevant to the 50+ market. Concepts such as Alloy’s that offer high-quality customized fitness services will have tremendous growth opportunities.
Pandemic and its Aftermath
In recent years the industry has undergone serious shifts, and the pandemic has managed to accelerate those changes. The population has majorly shifted from measuring fitness to disease prevention. Also, a focus on wellness and fundamental changes in the systemic organization of healthcare and fitness offerings.
2021 fitness industry forecast is for the growing market demand for the right types of fitness concepts. As aforementioned, this year will be serving to pent-up demand for in-studio services as people have been locked in their homes for so long. Plus, due to the pandemic, there has been a shortage of operating fitness concepts further flaring this demand. Alloy is positioned to stay ahead in this demand due to its small group personalized training sessions. One of the biggest advantages for the business is that the model does not rely on crowds of people to work. “Alloy has seen a surge in demand from franchise prospects who understand the advantages that the Alloy concept offers,” concluded Rick.
Rick Mayo hosts the Alloy Personal Training Business Podcast which is published on all major podcast channels as well as YouTube.
FAQ with Rick Mayo
- Is the concept focused and proven?
Focused fitness concepts have a competitive advantage. Being everything to everybody is not a good formula for success. The Alloy Personal Training concept is focused on offering high-quality personalized fitness solutions. This enables us to deliver the accountability our customers need while providing a better fitness experience that improves loyalty. Our business formula works and our numbers prove it.
- Are there underlying macro-trends that support market growth?
Near-term and mega-trends should support significant growth in the marketplace and the related demand for services. The trends for the fitness services Alloy offers all reflect the growing market demand.
- Are the concept’s unit economics sound?
The franchisor should share an earnings claim under item 19 to reflect key economic dynamics of the concept so that franchise prospects can understand their potential ROI. Alloy’s key KPI’s like retention and revenue per member, are among the highest in the industry. This coupled with relatively low investment creates the opportunity for exceptional returns.
Read full issue: The 30 Elite Franchises in America 2021