Welcome back to another exciting episode of the Franchise My Business podcast, hosted by Kevin Oldham. In today’s episode, we dive into the power of SELF-PERCEPTION, GAMIFICATION, and the PURSUIT OF GREATNESS.
We will be joined by our special guest, Adam Rice, the Founder & CEO of one the fastest growing boutique fitness franchises, ISI® Elite Training. We take a journey into his past, and this pivotal event that led him to embark on a life-changing transformation. From celebrating the triumph of being a multi-unit, multi-brand owner to the transformative power of athletic-based training, the conversation dives deep into the mindset, atmosphere, and challenges faced in the fitness industry. We will also explore the importance of a powerful why, the impact of pivotal moments, and the exciting launch of Relentless Brands.
Let’s get started!
HIGHLIGHTS:
Building the Right Team and Infrastructure for Success – Adam Rice
“Right now, we’re really on that growth train where we’re seeing now, 10 units. We got a potential 20 unit deal in the mix right now. And I’d say the most critical thing for me was getting the right people on our team as fast as I did, was by far. I think any franchisor that there’s 2 routes to go. You could argue which route is the right route, but I was always a huge believer in losing a lot of money. How long can I sustain with losing a lot of money to build the right infrastructure? Right, in franchising as a franchisor, you’re not becoming royalty efficient till depending on your unit economics. For us, it’s around 60 to 70 open. Right?”
The Secret to Member Retention: It’s Not Just About the Workout – Adam Rice
“When you’re part of something bigger than yourself because, in fitness, our mindset, a lot of times and it’s a have to versus get to. Right? And so if we can create a space and an atmosphere where people are doing life with people that they enjoy, like the atmosphere, the turf, the graphics, makes them feel like an athlete, then we can get them there. And that’s our struggle within the fitness industry is to get people to walk through the damn door. And then once they’re there, we’re good. Like, we got you right. And so. Why our member retention is through the roof? It’s because it’s not about the workout. The workout is awesome, but it’s really about the space and the community and they get to see their people. Right. It’s 15 minutes out of their day where they get I not think about anything, walk out feeling great about themselves? And for us, it’s this where we really differentiate ourselves within the industry. Specifically, it comes down to the strength. Differentiate ourselves within the industry specifically, it comes down to the strength component of it. So very strength based, but in that boutique fitness settings, so we’re about 60% female, 40% male. That ratio is way stronger on the male side than most concepts. Typically, in boutique fitness, it’s about 80/20.”
Connect and learn more about Adam Rice by visiting his socials below:
- LinkedIn: https://www.linkedin.com/in/adamriceisi/
- LinkedIn: https://www.linkedin.com/company/isi-elite-training-franchise/
- LinkedIn: https://www.linkedin.com/company/relentless-brands/
- Website: https://isifranchise.com/
- Website: https://www.isielitetraining.com/
Find out more about Kevin and Franchise My Business:
- LinkedIn: https://www.linkedin.com/in/kevinoldham/
- Website: https://kevinoldham.live/
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