Live from the floor of the March 2023 IHRSA Trade Show in San Diego, Pete Moore sat with Yvette and Neal McGaffin, Co-Founders of Reform RX. to discuss the challenges and opportunities in the connected Pilates space, what it's like to get involved with manufacturing, and more!
They delve into strategies for the HALO sector during COVID, highlighting that partnerships with gyms and studios may be a more effective approach versus trying to go direct-to-consumer initially. They also emphasize the importance of considering various options when developing a business strategy.
The couple also discusses their (very winding!) four year journey of research and development to roll out the "Porsche" of the Pilates industry. Neal states, "QR codes! This is the (one) of the features that will stand you out from competitors. Scanning a QR code and allowing members to bring metrics to your users. . . .and for them to take away what they've done in your class" is a game changer for studio owners. Finally Neal and Yvette also talk about the emotional roller coaster of being a married couple running a business and staying positive.
Some key moments:
[00:01:58] Own studios, innovate, create Reformer, succeed!
[00:04:21] Connected fitness market strategies during COVID.
[00:11:37] Entrepreneurship, roller coaster, emotional management, success.
[00:15:50] Celebrate wins, not focus on losses.
[00:18:06] Flexible content library and equipment for workouts.
[00:19:29] Keep going! Perfect timing for Pilates market.
A few key takeaways:
- Innovating and dominating the Pilates industry requires extensive R&D, creativity, and collaboration.
- It's important to have a well-crafted business strategy, particularly when developing a fitness business during COVID.
- Celebrating wins is crucial for entrepreneurs to stay motivated, positive, and resilient.
- Pilates can be a valuable form of preventative healthcare, particularly in improving core and balance strength.
- User-friendly software and custom-built hardware can create an elevated user experience.
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