Multi-Unit Franchisee Magazine Issue IV, 2016 - Page 50

ATHLETES IN FRANCHISING

ATHLETICS ing knowing all he needs to about running the business . “ I listened early and carefully to what people were teaching me about the business world . I was not hard-headed ,” he says .
Retro Fitness founder and CEO Eric Casaburi , he says , did a great job explaining how the business should be run every day and the importance of following through . “ Franchising uses a game plan that , when followed , results in a business model that works ,” says Garrard , who plans to remain an active franchise
owner . “ I ’ m looking at potential future sites , talking to and negotiating with landlords , and promoting my existing locations ,” he says . “ I ’ m always going to have a hand in it .”
Looking ahead downfield , he says , “ We want to leave our kids a business that ’ s profitable . People are becoming more and more fitness-oriented , so the industry is going to continue taking off as more people appreciate the benefits of exercising and living a healthy lifestyle .”
What skills / experience from sports have carried over to operating a business ? Being confident in all situations .
Which do you find more competitive , sports or business ? Business is much harder .
Why did you choose franchising as an investment option ? They already had the game plan , I just follow it .
How did you transition from sports to franchising ? I had a business partner who helped .
What was your greatest achievement in sports , and what has been your biggest accomplishment as a franchisee ? Winning the starting job with Jacksonville , and getting my gyms open .
BOTTOM LINE
Annual revenue : More than $ 1 million .
2016 goals : We want our first gym to break even . In 2017 , I want both of our gyms to break even .
Growth meter : How do you measure your growth ? Through attrition .
Vision meter : Where do you want to be in 5 years ? 10 years ? In 5 years , I want to have 4 Retro Fitness clubs open . In 10 years , I want to have 9 .
How is the economy in your region affecting you , your employees , your customers ? It ’ s fine . The economy is pretty good . People are able to spend . Our members are actually spending twice the amount of their membership . We do have a few people that are delinquent , but not many .
Are you experiencing economic growth in your market ? There ’ s great opportunity in our market . The economic growth is standard .
How do changes in the economy affect the way you do business ? We try to go with the market and adjust accordingly .
How do you forecast for your business ? The gym business has different seasons within the industry , so it ’ s somewhat easy to prepare for them .
What are the best sources for capital expansion ? The best way to get capital is to have your gym making money . Nobody wants to put capital into something not making money . If you have good relationships with banks , seek capital through them .
Experience with private equity , local banks , national banks , other institutions ? Why / why not ? If you ’ re making money , this is not a problem .
What are you doing to take care of your employees ? I offer incentives whenever I can .
How are you handling rising employee costs ( payroll , minimum wage , healthcare , etc .)? It ’ s tough , we do what we can .
How do you reward / recognize top-performing employees ? Employee of the month along with an incentive , such as a gift card .
What kind of exit strategy do you have in place ? Building up the company enough to receive an offer we can ’ t refuse .
48 MULTI-UNIT FRANCHISEE ISSUE IV , 2016
AT H L E T E S I N F R A N C H I S I N G ATHLETICS What skills/experience from sports have carried over to operating a business? Being confident in all situations. Which do you find more competitive, sports or business? Business is much harder. ing knowing all he needs to about running the business. “I listened early and carefully to what people were teaching me about the business world. I was not hard-headed,” he says. Retro Fitness founder and CEO Eric Casaburi, he says, did a great job explaining how the business should be run every day and the importance of following through. “Franchising uses a game plan that, when followed, results in a business model that works,” says Garrard, who plans to remain an active franchise owner. “I’m looking at potential future sites, talking to and negotiating with landlords, and promoting my existing locations,” he says. “I’m always going to have a hand in it.” Looking ahead downfield, he says, “We want to leave our kids a business that’s profitable. People are becoming more and more fitness-oriented, so the industry is going to continue taking off as more people appreciate the benefits of exercising and living a healthy lifestyle.” Why did you choose franchising as an investment option? They already had the game plan, I just follow it. How did you transition from sports to franchising? I had a business partner who helped. What was your greatest achievement in sports, and what has been your biggest accomplishment as a franchisee? Winning the 7F'Fr"vF66fR@vWGFrגw2Vࠤ$EDĔPV&WfVVS&RFC֖ƖࠦVB6V62vFFRGW7G'6N( 26WvBV7F&W&Rf"FVࠣ#bv3vRvBW"f'7BwF'&VWfV#rvB&F`W"w2F'&VWfVw&wFWFW#rFRV7W&RW"w&wFF&VvGG&FࠥvB&RFR&W7B6W&6W2f"6FW6FR&W7BvFvWB6F2FfRW"wrW&GvG2FWB6FF6WFrBrWbRfRvB&VF62vF&26VV6FF&VvFVࠥf6WFW#vW&RFRvBF&RRV'3V'3RV'2vBFfRB&WG&fFW726V'2VV'2vBFfRࠤWW&V6RvF&fFRWVG6&2F&2FW"7FGWF3vvCb^( &RrWF22@&&Vࠤr2FRV6גW"&VvffV7FrRW"VVW2W"7W7FW'3N( 2fRFRV6ג2&WGGvBVR&P&RF7VBW"V&W'2&R7GVǒ7VFrGv6RFRVBbFV V&W'6vRFfRfWrVRFB&RFVƖVVB'WBBࠥvB&RRFrFFR6&RbW"VVW3ffW"6VFfW2vVWfW"6ࠤ&RRWW&V6rV6֖2w&wFW"&WCFW&^( 0w&VB'GVGW"&WBFRV6֖2w&wF27FF&BआrF6vW2FRV6גffV7BFRvRF'W6W73vRG'FvvFFR&WBBFW7B66&FvǒआrFRf&V67Bf"W"'W6W73FRw'W6W722FffW"РCr&RRFƖr&6rVVR67G2&֖VЧvvRVF6&RWF2N( 2FVvvRFvBvR6आrFR&Wv&B&V6v旦RFW&f&֖rVVW3VVRbFRFrvF6VFfR7V62vgB6&BvBBbWB7G&FVwFRfR6S'VFrWFP6VVvF&V6VfRffW"vR6( B&VgW6RࠤTDTBe$44TR22TRb#`VcE&fUv'&&BCBCbCFBCbbSrР