A former Wall Street executive, Rick caught the entrepreneur bug and for the past 10 years has been running Wash Club , now in 75 cities and 4 countries. "COVID took a bite out of us, but on the upside we're definitely starting to see things trickle back in to place." Rick and Pete chat about the the pros and cons of providing towels internally versus externally. ("Stick to what you're good at and what your Mission is! -Pete) Rick brings up some anecdotal experiences of what happens if you take ...
Apr 06, 2021•23 min
Live Oak is a niche lender in 30 different industries. "We're niche lenders within a niche space. . . focusing more on tried and true, well rounded fitness concepts and established, multi-unit borrowers and providing them with a debt platform to allow them to grow," states Aaron DiGregorio who focuses on the HALO sector. Learn more about tranche financing, leverage ratios ("we don't like to go beyond 4x") and how its changed during COVID, his thoughts on boutiques versus the larger facilities, h...
Apr 01, 2021•24 min
Jim was a former "rainmaker" and partner at three different investment banks on Wall Street for most of his adult life. He's written 7 different books, has a documentary about fitness and aging well on PBS , and recently turned 80. He says he's now in the "inspiration business" after being, for years, a "certified couch potato!" The Wall Street Journal named his book Just Move , one of the 5 best books of 2017. He chats with Pete about how he completely turned his life around (at 70!) with fitne...
Mar 30, 2021•33 min
"The cool thing about dance as fitness is that you don't necessarily have to focus on what you look like doing it. . .you're just focusing on movement and the well-being of your body without having to worry as much about performing," states Andrea Fornarola, Founder of Elements Fitness Studio. Andrea was always a professional dancer, and she got her start on the fitness side at the well-known Physique 57 in their early days around 2005. She and Pete chat about the proliferation of dance-based ex...
Mar 25, 2021•25 min
When asked about how the industry has been responding since COVID, Eddie Tock, CEO of REX Roundtables states, "I think it's great to see the industry coming together in a stronger way. I still think we have a long way to go outside of the traditional for-profit clubs to really make an impact on the national and state levels with the media, and with state legislations that are out there." He and Pete chat about how the industry will evolve, "how to partner with different aspects of the industry t...
Mar 22, 2021•27 min
"I'm a lifer!" states Frank Ancharski, industry veteran and owner of Club Coach Services . "I've been in it since leg warmers were around, The Step® was just coming out, StairMaster wasn't a reality yet, and there was the duo-chest from Nautilus," he jokes. Frank is bullish on an "epic comeback" and in this chat with Pete, they discuss the reopening of the industry and how to manage it, customer service ("You shrink your market more by the way you treat someone on the way out, then you do based ...
Mar 18, 2021•36 min
Matt Richter is President of the Thiagi group and, in his second appearance on HALO Talks ( first one here ,) he and Pete continue their in depth conversation on learning, development, and training. With regards to COVID, Matt states, "We were able to share, and demonstrate that live online learning can be as effective as in person . . . If things are done and designed well, you get the same level of effectiveness, if not a bit better." They go on to discuss how this can benefit the HALO sector ...
Mar 12, 2021•28 min
A long time industry veteran, Glenn states, " Neighborhood Trainers was meant to be kind of a combination of a dating site and real estate listings as a way to help people find the right trainer." He got the inspiration (a while back) when people were still posting flyers on bulletin boards. (They're still out there and they still work!) Pete and Glenn chat about how trainers were forced to evolve during COVID, how they moved from ZOOM to parks, the always-ongoing discussions on "who owns the me...
Mar 10, 2021•21 min
"For every W2 employee you have, you could be eligible for up to $5,000 per employee depending on your particular fact pattern. This is not a loan. You don't have to pay it back. It's not income tax. It's a payroll tax credit. It's above the line," states Adam Taplinger from Tax Credit Co. Adam and Pete chat about the critical Employee Retention Credit (that you need to know about!) how to use it, how it's different from the PPP, the two paths to eligibility for the ERC, and more. Adam is a form...
Mar 04, 2021•22 min
"The problem that trainers are looking to solve is finding and keeping new clients. For clients? They don't need another tool to find new content. They want the 'answer.' Jijo is a match.com for clients, and a Shopify on steroids for trainers," states Charles Friedberg, Founder & CEO. Charles has 25 years in financial services and as a (former) 'outsider' looking in to the HALO sector, he found a need that simply wasn't being addressed. He continues, "The problem isn't trainers not knowing h...
Feb 26, 2021•28 min
"The pandemic either will make you stronger, or will force you to get out of the way for new technology and new ideas. But I think a lot has been the same. Connecting with members in a deeper way is a big part of this. . . A huge portion of the value of a membership is the social experience. I can't see that ever really changing," states long time industry veteran, Rich Novelli. Pete and Rich touch on the many differences between High Volume Low Price (HVLP) business models versus a premium bran...
Feb 26, 2021•24 min
"Brands are very powerful. It is the ultimate moat. When someone has built something that resonates with a lot of consumers and drives passion, that's when something is investible," states Jon Canarick. North Castle is one of the first, and most highly regarded private equity investors in the HALO sector. Pete and Jon discuss how North Castle evaluates a company, what they track, how to approach, criteria, why valuations these days tend to be very overblown, some fundamentals of finance, and mor...
Feb 24, 2021•26 min
"I'm very bullish on the return to boutique and studio in-person fitness," states Jack Thomas, Founder & CEO of the high end chain BASE out of Bangkok, Thailand. This discussion touches on the state of COVID in Thailand and its affect on the industry. They also chat about the cultural differences around Asia's handling of the pandemic versus the US and UK, how BASE created and leveraged a unique technology for group fitness classes, some lessons learned while visiting boutique facilities in ...
Feb 19, 2021•26 min
"Part of our Mission is to conduct an amazing, two way, connected, live stream workout with coaches that see and care about you. . . and two-way is the word I want to repeat! We're one of the leaders in it, and it's what the Peloton's of the world simply aren't doing," states CEO and serial entrepreneur Kyle Bergman. A former lacrosse college athlete who went on to play on the Israeli national team, Kyle got his retail background at Bloomingdales, coached for 4 years at Orange Theory and Flywhee...
Feb 16, 2021•28 min
When asked about the digital "hybridization" of the industry, long time industry veteran Bill McBride states, "It's going to be like a swimming pool. Not all your members are going to use it, but when you sell a membership, everyone wants it! So you must have a strong virtual, digital program available, now more so then ever." This wide ranging discussion touches on the effects the pandemic had in our sector, the stronger footing we must gain in Washington to effect real change, the need for lic...
Feb 05, 2021•25 min
"One thing campus recruiters, athletes, and professionals don't have a lot of is time," states The Athlete Book Founder, Ryan Drummond. In this update, Ryan takes us through their new point-based system focused around consuming content and creation of a leaderboard which puts coaches on the map of an athlete's career path and development. "Nobody wants to be on the bottom," he says. Among many other advantages, this also provides the employer the opportunity to tell the story of what they're loo...
Jan 29, 2021•40 min
On what ShapeLog can do for your club, Co-Founder & CEO Bryan O'Rear states, "Imagine user behavior is something that you know well in half of your facility, but that journey falls off very quickly as they traverse over into the strength and functional areas. There is now a chance for you to really understand that user behavior that otherwise was just dark. How do you plug yourself into their journey at the right time and make sure they're well aware of the complete offerings at your facilit...
Jan 26, 2021•16 min
"There are some basic table stakes today with respect to how a member wants and expects to interact with their brand, so the days of having an app just to say you have an app. . .are over," states Bryan O'Rourke, Founder of Vedere Ventures and long time HALO sector veteran. Bryan began as a technologist in the food and beverage industry in the early 80's and entered this space in the mid 90's. This broad discussion touches on some highlights and insights gleaned over the past few months, discuss...
Jan 21, 2021•26 min
Marcus Johnson is a modern Renaissance Man! He's an independent Billboard-ranked musician and NAACP Image Award-nominated jazz keyboardist and pianist. Also the CEO and Founder of FLO ("For The Love Of") Brands , and more recently FLO Wine, he states, "My life motto is DEEPER: "Dream, Engage, Environment. Plan. Execute. Reflect. Entrepreneurs are very good at execution, but bad at reflection because reflection calls for vulnerability." This wide ranging discussion touches on points business owne...
Jan 13, 2021•27 min
"There is a need for personal, human connection that will never go away, no matter how good our garage gyms get, no matter how good the technology gets, people still want to work out together. If you've been in gyms recently as I have, the places are packed," states Hillis Lake of Eleiko . Hillis has been in the HALO sector since 1979 and started his career with Joe Cirulli. He discusses how free weights have done a complete full circle, shares his incredible come back story after being told he'...
Jan 08, 2021•27 min
With a background in planning, promoting and executing C-level, multinational conferences in the gas and oil sector, Singapore based, Ross Campbell went on to found The Fit Summit . "We started as a community business and built live events and thought leadership on top of that." He continues, "The HALO sector is such an amazing investment opportunity, however it doesn't get the airtime here in Asia and in more immature markets, but it's coming." He goes on to discuss the importance of ongoing bu...
Jan 06, 2021•20 min
Aaron attended the University of Texas at Austin and followed that up by obtaining his MBA. He worked his way through the ranks in a sports agency and eventually became the youngest NFL agent ever at 25. He went on to launch Revolving Mind Media and currently represents Jaylon Smith, Dez Bryant, Dennis Smith, Jr and many others. Pete and Aaron dive deep into the world of athlete endorsements, the marketing and diligence that goes into branding and equity deals, how deals have evolved through COV...
Dec 29, 2020•25 min
Roland Memisevic is the CEO & Founder of Twenty Billion Neurons, a Microsoft M12-backed artificial intelligence startup committed to making personalized coaching and companionship accessible to all people. Having earned his Ph.D in Computer Science, Roland has been working in AI his entire career. Taylor Roth is the Product Owner for Fitness Ally, 20bn's direct to consumer, fully interactive AI fitness coach app that's seeing phenomenal traction. This wide ranging discussion touches on the i...
Dec 23, 2020•24 min
"I put it away and then I went back to doing my thing. I didn't realize it was going to be useful!" laughs Dr. Jason Wersland, Founder of the Theragun when asked how he got started early on. (Like most great ideas, it was born of a personal frustration.) Five different versions later (created between 2008 - 2015) Jason met experienced angel investor Ben Nazarian, now the CEO. Learn more about what an investor mulls over when thinking about whether to back someone, the evolution of the product, w...
Dec 16, 2020•28 min
"I always had a love for tech, what it can do, and how it can transform business . . . .and nothing is transforming fitness these days more than technology," states Adam Zeitsiff, CEO of Intelivideo . Adam has deep roots in the space, having started a video conferencing company at 22 and growing it to 130 employees, 9 offices, and $40M in revenues. This wide-ranging discussion touches on how tech has become (even more) critical to the industry since COVID, the powerful advantage clubs have of ow...
Dec 09, 2020•27 min
Asked how Prospr began and what her initial pain points were, Erika laughs, "I thought I must just be a bad people manager! It wasn't until I started meeting others across different verticals that I realized, 'No, I don't stink at managing people! People are just really hard to manage . . . but specifically shift and hourly based work force!'" She discusses the ups and downs of developing software (as a non-coder!), how her (very simple but powerful) program helps increase productivity, employee...
Dec 04, 2020•23 min
"Before you become this fancy Swiss Army knife, are you even a decent pocket knife first? Do you do one thing really well yet? People will cancel memberships, they're less likely to cancel relationships," states Stu Brauer, host of the WTF Gym Talk podcast and owner of Urban MVMNT . Since 2015 he's focused on the "microgym" industry which came out of his years of experience with CrossFit and bigger box facilities. Stu discusses his thoughts on how to make it out the other side of COVID, retainin...
Nov 25, 2020•35 min
"I work closely with the Founders to align their vision with my understanding so I can go and create appropriate milestones," states Jeff Kazmucha when discussing part of his process working with clients. A fitness industry veteran, Jeff also talks about the critical importance of being an Evangelist for the companies he works with, thought processes behind scaling sensibly and properly, common mistakes most Founders make when coming to market, the relationship between brick and mortar and tech ...
Nov 13, 2020•33 min
Matthew and Michael Rosenberg both come from banking and finance. They saw an opening in the market that wasn't being addressed and started Solin Fitness . Initially, their model was partnering with trainers who only had large followings, but they ended up pivoting to a white label product. Matt states, "We're only as successful as our Partners are. Ultimately, they're the ones making the impact on the consumer. If we're really successful, nobody ever knows who Solin is." They go on to discuss t...
Nov 03, 2020•31 min
"There's this race to the bottom, which is doing everyone a disservice. If your value proposition has to be driven by the fact that you can give the cheapest access to your solution, I have to question . . . do you even deserve to be in this business!? I could replace you with equipment from Amazon," states 25+ year industry veteran Jason Stowell. This pull-no-punches podcast discusses everything from selling solutions versus 'packages,' the fact that you're never going to outsell sincerity and ...
Oct 22, 2020•34 min
