Episode #556: Mastering Fitness Studio Growth-KPIs, Cashflow, and Expansion With Lauren Schoenfeld

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I am super excited to announce that we now have a formal

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partnership with the Prospect Wizard. And when I say

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wizard, I mean wizard. Obviously you have a website.

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This allows you to convert your website traffic visitors

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directly into leads. It's not just another chatbot and

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it's not AI, but it allows a visitor to call, text or leave a

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voicemail immediately. Goes to you, your sales team or anyone else in the

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club instantly. MIT shows a study that if you contact

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the lead within 10 minutes, chance of them converting goes up nine

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times that of the average. We got the Atlanta clubs

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on it. Vita Fitness, Gold's Gym, Mountainside

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City Fitness, Philly, College Park. Become one

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of the next Halo companies to deploy the Wizard.

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It's easy to use. Go to the prospectwizard.com

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get a free 30 day trial. Talk to my boy Dave Gallen. He will get

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you all set up and let the leads flow based on the

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Wizard. Go get him.

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This is Pete Moore on Halo Talks nyc. I have the pleasure of

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bringing your new fractional cfo. That will be your

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Halo most important position. Hire

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Lauren from Active Core Consulting, hailing out of San Diego with

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roots in New York City. And she is music to my

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ears because we're going to talk finance, we're going to talk ebitda, which

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people know I love, and we're going to talk about how you make sure you

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can manage and measure and eventually sell your business.

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So Lauren, welcome to your first Halo Talks. Thank you so much.

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I'm so excited to be here. Yeah, so look, in our

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business, a lot of people have bookkeepers, they've got accountants

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and we get on and we help them, trust me, try and sell their business.

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And it sometimes takes upwards of six months to actually

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decipher what their cash flow is, what their

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KPIs are, how you can articulate what the business model

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is actually through financial drivers. So

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talk about your background, why you've dedicated yourself to be

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a fractional CFO and

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people you've helped and some of the takeaways you've learned.

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Yeah, of course. My background is heavily in

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finance and strategy. I started my career at PwC,

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did a lot of public company financial audits. I was an early

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employee at WeWork before they tried to go public the first time.

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And then I got into the fitness space at Equinox where I

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spent the lion's share of my corporate career. I was an athlete growing

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up and then got into the accounting finance world out of college.

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And so coming to Equinox and, and back into the fitness

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space felt like the best marriage of my athleticism

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and my finance brain coming into one.

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During the pandemic, I lived in New York City. I was stuck in my apartment.

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I was bored because I didn't have anything to

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do in terms of work was slow.

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Fitness industry was kind of slowing down. So rather than

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finding a creative outlet through arts and crafts for

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bread making, I was like, let me start a company. And so I reached out

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to the cycling studio owner of the studio I was a

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coach at and asked her how she was pairing through the pandemic. Obviously,

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no one was doing great. And so I helped her restructure her business,

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helped her open the first outdoor cycling studio in Brooklyn

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since you're in New York. Bikeland was my first

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client. And so she was like, this is

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amazing. And she was an MBA grad from Wharton. So I was like, wow,

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if this amazing, smart studio owner needs my help, I

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imagine most people are in the same position. So it really

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started out as a labor of love during COVID just wanting to help out the

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industry and kind of get my feet wet into what a consulting

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business agency would look like. And about five years

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later, we have fully grown. I have eight other

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people on my team. We're also growing into not just

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fractional cfo, but also sales and operations coaching.

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So the ideal flow is you come in on the finance

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side. We have bookkeeping services, we

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have finance services. So our fractional CFO offer is a

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really holistic offering where we clean up your P and L,

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we make sure you're giving reporting that actually speaks to what

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your business is doing so we can make smart operational decisions

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rooted in your numbers. We build you out a three year business plan with

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monthly goals. So when you're doing your weekly and monthly KPI

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metrics, you actually have something to base your metrics

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against. So we can really keep a tackle on your

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business and what you're doing, what you're not doing. And then

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our sales and operations coaches will really come in and help you

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nail down your sales process, your communication process, your team building,

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your community building, your retail strategy, and just

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everything that comes along with running the four walls of our studio.

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Our sales and operations coaches have also come from the boutique fitness

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world, from Barry's bootcamp, Orange Theory Fitness, a lot

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of thick equinox generators

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and helping out big names that we've all

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taken our skill sets to help the smaller entrepreneur crew.

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So before we get into the business, what was your athletic

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prowess? And we have to get you a copy of our book, which is called

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Time to Win again. We where it's 52 takeaways from

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team sports to run a successful business. So it's a

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caricature picture book. Kind of like Where's Waldo?

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Beats good to great. But we love what you're doing. You know, we're

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focused, as most people know, on the mergers and acquisition

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side. And a big piece of our business is making sure

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that we have a bulletproof historical and

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projection model and be able to tell the story of

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what's a special sauce of a club chain or

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studio concept or franchisor. And it's really

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difficult to do that unless somebody has a handle on how they're

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driving the business, what levers they're able to focus on and

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actually. Put. Rocket fuel on

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or not. And as you reference,

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you have to have a handle on those monthly in order to prove to an

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investor that, that you're not just running a four wall business.

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But you know how that four word business model and revenue

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model works. So first off, what's your sport of choice?

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I was a big soccer and volleyball player growing up.

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Okay, live and breathe sports. Every weekend up and down the state

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of California. My poor parents were just driving my brother and I to all of

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our competitions and tournaments. And

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I was a goalie. I just retired a year ago. I was a goalie at

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52. No way. Awesome. Yeah. All right, there you go. All right. So we're

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fast friends. You know, my mom used to tell me like, oh, you

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know, there's 10 other people that it got passed, you know, so it's okay that

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it got past you. I'm like, no mom allowed to use my hands. So, you

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know, make me feel, you know, comforting. But

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yeah, I say, well, you'll see in the book, you know, like the CEO of

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the company is really the goalie. And, you know, I'm responsible

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for people not losing, which, you know, in your current,

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you know, profession, you're basically, you know, like the defense, you

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know, for these businesses. So, Dave, make sure we get a copy of the book

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to Lauren as soon as possible. And it's always good to have another

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goalie, you know, on board here. You know, from a

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standpoint of when you got involved with your first couple of clients

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here, you know, they've, they're either on ABC, they're on MyBody,

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you know, who, who, what role were you either replacing

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or what role were you shocked that wasn't there?

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It was more so just transparently shocked that wasn't there.

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I think a lot of studio owners who were successful pre

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pandemic didn't have to keep as tight of

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a pulse on their cash flow and how

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impactful certain operational decisions are going to have on their profitability

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and their cash flow. But once Covid hit, obviously revenue

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just plummeted. So each decision was so much more valuable and

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so much more important. So. So in the early, early days of the business,

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my goal was really just to keep people from not going

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bankrupt and not losing all of their cash. So really helping them understand

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cash flow analysis. If we make this change, what is the downstream

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effect on your profitability and helping them manage cash

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flow and make sure they can pay all of their people? And then

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as Covid started to recover and our industry started

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to recover, and then it was really about helping studio

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owners, how do we regain the revenue that we lost during COVID

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What operational changes do we need to make given this new landscape?

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And then that's where I really brought in a lot of the sales and operations

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coaches that we have now to help them redo a lot of

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their communications, their sales, their marketing tactics. How do

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we operate a schedule? How do we manage a team? We really

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have partners that do everything under the sun that you need for boutique fitness, just

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depending on what you need, who is dependent on who on the team that you'll

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work with. And now that we're, you know, Covid is

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in the backseat, Thankfully, a lot of our studio owners are opening up new

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studios, growing their portfolio, figuring out how are we going to gain funding

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for a third, fourth and fifth location. And so my

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role with them is really outward expansion, growth

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planning, what metrics do we need to hit in order to be attractive to

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an investor and helping them build out the

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bigger vision, but also on a smaller scale. They still work

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with our finance coaches to make sure we are always understanding what are the

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cash flow needs of the business, what is our cash flow run rate?

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Every single month, we give our clients a P and L

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review. And what that means is we take the budget and the projections that we

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have set, we marry that up against the actuals that happen in your business

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and through the story of your P and L. And then working

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with me, since I know the operations of your business, we merged the two together.

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So you can see, okay, we made this operational change in

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the business and we expected revenue to grow 5% and

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only grew 3%. What happened? So we'll dive into that. Conversely, if it

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beat budget, then we really want to understand why it beat budget so we can

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continue doing the good and leave what's not working. So we do that for every

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P and L category that we have. And it's really

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important for me for our CEOs to understand their

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numbers, what's coming in and out of their business so they can make better

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decisions.

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This is Pete Moore. I want to let you in on a little secret. There's

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this company called Promotion Vault. And what they do is they give out rewards

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from retailers that allow you to incentivize your

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members without having to do zero down and one month free

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or giving away shakes or giving away T shirts. What you want to

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do is build a rewards program that lasts, that people value

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and that doesn't discount your own products and services. So here's the

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deal. There's something called Rewards Vault. The Rewards Vault is going

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to allow a member to set up their own profile. They are going

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to answer questions, you are going to get those answers. You're going to be able

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to target those members and you're going to reward them inside your club,

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inside your spa, and outside of the club and outside of the

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spa to get them to become loyal, to get them to pay their

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monthly dues and to be rewarded properly for the

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actions. A lot of companies are cutting back on rewards. You shouldn't be.

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Promotion Vault, your answer, Trust me, this is real.

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From a standpoint of a lot of studios. I mean, most of them

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historically have been on my body. When you go into a company

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and diagnose, you know, okay, we can help you, do you want

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them to be on a certain software or would you rather

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have that remain nameless or do you find that certain software

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is better deployed

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and able to give you the reports that you

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need? Yeah, that's a good question. Ironically, we don't have any

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clients on mindbody. When we came in with a lot of the

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post pandemic newer studios, they were all going into Mariana

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Tech, which I think is a.

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I don't think there's a perfect system. I think every system has their pros

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and cons and we could probably have a whole podcast riffing on

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what are the pros and cons of each platform. I like Mariana

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Tech for reporting. I think they have opportunity

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to better integrate their marketing brand

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bot with the system. So it's a bit more seamless. A newer system

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that we've become partners with is Walla, because everything is under

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one operation. They're the only system that has an actual CR

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and lead flow, which is really important for our sales and ops team and how

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they coach our studio owners and managers on how to follow

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the journey and the sales Process. Another system our

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clients use a lot is moments. So I would say like, those are probably my

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top three systems that we've seen the best results with.

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Gotcha. And then when you look at these systems and you look at what

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the operator has been using prior to getting

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involved, do they have like a management dashboard? Is

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there like a KPI? You know, I use the word term crystal

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reports from back in the day. Yeah, but, but you kind of building

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those out for people and also like providing almost like an

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educational roadmap on not only am I your cfo, I'm actually

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like teaching you how to manage this business and actually understand

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you can sleep at night or you can't or, you know, here's like three or

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four things. You can just cut marketing and assume that you know the business is

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going to be the same. You can't have less programs on the

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calendar because you got revenue per hour, you know, that we're

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looking at here. So, so what are some of the things where you're one,

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you go from like shocked into like execution mode and saying like,

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look, you kind of, if you hire me, you have to run the business the

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way I'm telling you to run the business because I know how your business

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works. I know you might have certain things that you look at. But let me

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just tell you how successful studios work. And I've

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got enough data and I got enough clients to tell you how to do that.

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And kind of trust me, I'm sure if there's a question. I think there was

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a question there somewhere. Yeah, it was.

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We definitely have a specific framework that we use on both the finance

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side and the sales and operations side. And so what I teach

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in our program is our signature framework.

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Right now we're taking people through an eight week group program to get your financial

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foundations. It's called, called Finance and Flow. Depending on when you're listening to this,

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we have eight week program that kicked off this week, the end of

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January and we do another one in the summer. And it's eight weeks to take

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you through. Like what exactly do you need to have in your business to feel

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financially confident? Everybody wants financial freedom, but before we have

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freedom, I believe we have to have confidence in our numbers and confidence

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in what we actually need to do in our business to hit the goals that

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we can so we can feel financially free. So, so throughout this program,

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we take them through the journey. KPI metrics is the number

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one thing that I teach. We have to do this on a weekly basis and

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then we do it on A monthly basis to recap the month. Once

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we have your business plan, you have specific goals that you need to hit

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each week. For first timers leads, Intro offers,

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new membership sales class packs. And so those goals are funneled

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into your weekly KPI tracker. So your studio manager can pair

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up how you're doing each week against the goal that we have and you can

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make operations operational changes in week over week depending on what

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you need more. Do we need more leads? Do we need more Intro offers so

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we can hit that membership goal? It's all just a big math game, right? It's

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all conversion percentages. So once we have the history of your business, we know

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how you've been performing and then we can help you project out what the next

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six months to a year will look like. And then if we add in our

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sales and marketing coaching, we have the data to be like to say,

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okay, on average your conversion rate will go up 15

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to 20% depending on where you started if you work with our team.

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So that's just a really powerful visual for owners to see

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where they're at versus where they can be with the right coaching. Obviously

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you have to do the work and follow the framework, but we're

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laying it all out for you. So as long as the owners do the work,

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we see really good success. Yeah, we, during COVID we started off something called

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Halo Academy and it's basically an executive boot camp

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where we go through the business models on Planet Fitness, CrossFit, Soul

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Cycle, Cycle for Survival and, and Peloton. The next

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one starts on a week from now if we'll send you a

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comp on that if you want anybody to sit in because they're basically trying to

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explain to them, you know, if you're going to operate in

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this market, you got to understand how your competitors make money

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and how you can either combat that or how you can maybe take some of

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those learnings. Obviously studios don't have annual maintenance

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fees, which sometimes equates to 50%

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of the total cash flow of a Planet Fitness as an example.

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So we love what you're doing on, on the education side and kind of having

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people understand like this is how the, the revenue model works and

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is what you have to provide on your end.

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Do you see, do you find that, you know, in some companies that you

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go into, they come to you as like a last resort and, and

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it's like, hey, can you kind of fix this? You know, we don't have any

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money left to put into the business and it's almost like A

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rescue, you know, CFO situation. And

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maybe you say, look, I, like, I can't help you because this is not something

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where, you know, you should have called me like six months ago,

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which sometimes I feel like I want to help everybody but I can't.

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Or what do you go through to kind of diagnose? And also it's kind of

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like dovetails into like, who's your ideal client

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as a, as a studio operator? Like, you know, there's certain things I

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can and can't do or who I want to target. Yeah.

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Luckily, since our business is growing and the agency is getting more involved

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with other coaches, we do have an offering for almost every

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level of business as long as they're able to support the investment level needed

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to pay for us. So we kind of, we put two, we

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put ideal clients into two categories. We have studio

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rescue. And that's kind of under what you were just describing.

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You're probably not cash flow positive.

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You have some success and you feel like you have

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a good vision and you can see the road to it. There's just something

306
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that's not sinking correctly. And for our Studio rescue clients,

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we actually have them skip the fractional

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CFO which is normally our first step, and just go right into sales and

309
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operations coaching. Because something is wrong, or I shouldn't say wrong,

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needs to be adjusted in your operating process

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so we can get more leads in so you can have the money to invest.

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Really think through of what a bigger three year strategy will be

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like for your business and get that financial support and help to walk you through

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the steps. But sometimes we just need to stop the bleeding and get the

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top line revenue up so you have capacity to

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start paying yourself so you can stop living in scarcity mode and then make other

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investments in your business to continue that growth. And then, you

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know, not necessarily to pin an actual dollar amount, but you know, what's,

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what's an entry point for a studio on a monthly

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basis to be able to bring, you know, your team on or

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some component of your team. So you just know that this is,

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you know, cost effective and probably the best return on investment they're going

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to get in any, you know, outsourced, you know,

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advisor or provider. Yeah, it's a good question.

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And sometimes isn't necessarily a revenue goal that they need

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to hit. It's more like, do you have the money to invest with us? So

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ideally, if you're within the 10 to

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$25,000 a month revenue range, it's

329
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probably too low to invest with us. But if everything

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that you own is tied into this business and you have to make it work

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and you can find the money to invest in our coaches,

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they will help you increase your revenue to what you need.

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However, our true ideal client is bringing in at least

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50k a month in revenue to

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really go through the full journey with us. We

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want you to be on the road to seven figures having one or

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two studios and you want to open and grow your portfolio. That's the

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ideal client for me on the fractional CFO side.

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But there is a bit more flexibility with that studio rescue

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type offer with our sales and operations coaches to help

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you to stop the bleeding. Just get some

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more. And what would be I like to use the term invest because

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I talk about marketing is an investment in your revenue. It's not an

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expense. So when you talk about your fractional

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CFO role, can you give us a range of what that minimum would

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be? Yeah. To join our group program and that's

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where everybody starts now is so you can get the eight week

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fractional roadmap or finance roadmap for your business

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to just do the group program. It's a $2,000 investment.

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If you want to have the one on one time with me and the team

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to help you go through the worksheets and get your business plan together, that's a

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$3,500 investment. And what we've seen is like the people who do

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the VIP upgrades are the ones that were actually implement

354
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implement the strategies. You could obviously do it on your own. It's just the, you

355
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know, more one on one support is always beneficial.

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This is Pete Moore. Here's the last tip for you of the podcast.

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00:22:18,940 --> 00:22:21,900
We are partnered up with a company called higher dose

358
00:22:22,060 --> 00:22:25,500
higherdose.com they are the leader in

359
00:22:25,660 --> 00:22:28,620
workout recovery products, infrared technology,

360
00:22:29,340 --> 00:22:32,860
LED light masks, neck enhancers and

361
00:22:33,100 --> 00:22:36,790
other products such as PEMF mats and sauna

362
00:22:36,790 --> 00:22:39,990
blankets. If you have not gotten on the workout

363
00:22:39,990 --> 00:22:43,430
recovery train yet, your time and your stop

364
00:22:43,590 --> 00:22:47,150
is now. You got to get these products in there before these workout

365
00:22:47,150 --> 00:22:50,390
recovery and spas end up saturating your market.

366
00:22:50,710 --> 00:22:54,310
Having your members walk out of the club and going into one of their locations

367
00:22:54,310 --> 00:22:57,950
for 200 bucks per month where they're paying 39 to

368
00:22:57,950 --> 00:23:01,790
you. Let's become an expert in workout recovery. If we

369
00:23:01,790 --> 00:23:05,120
are already an authority in workouts. Higher dose,

370
00:23:05,520 --> 00:23:09,200
check it out. There's a wholesale code and we look

371
00:23:09,200 --> 00:23:12,480
forward to helping you augment your products and services

372
00:23:12,880 --> 00:23:16,720
to meet the demands of your members. And hey, let's get people

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happy, healthy and Sweating and the recovery should be

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just as good as the workout.

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So there are a lot of franchisors out there that sell people a

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franchise or award them. Usually the ones that are sold maybe

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00:23:33,730 --> 00:23:36,770
don't have something called Item 19 in their financial

378
00:23:38,290 --> 00:23:42,010
franchise disclosure document because the unit economics, you know,

379
00:23:42,010 --> 00:23:45,730
just aren't proven or aren't good. So they don't put it in there. I've always

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00:23:45,730 --> 00:23:49,570
used a benchmark for the last 10, 15 years of you have to really

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be doing $60,000 a month or 2,000 a day

382
00:23:53,890 --> 00:23:57,180
regardless of really what your rent is, to not be paying

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more to the landlord than you are in cash flow to yourself.

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Do you have any kind of benchmarks or, you know, hacks, if you will, to

385
00:24:05,140 --> 00:24:07,860
say, like, look, I kind of, once I get your financials, I know what the

386
00:24:07,860 --> 00:24:11,620
problem is. Right. I got a, I got a revenue issue, I got a marketing

387
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issue. I've got, you know, I'm overpaying people.

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I've got too many, you know, I've got too many of your family members on,

389
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on staff or, you know, is there, is there a revenue kind of

390
00:24:22,860 --> 00:24:26,660
threshold where it sounds like using 50, you know, that you say, look, if

391
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you can't make X dollars per month in and

392
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paying full rent next to a hair salon that's open 16 hours a

393
00:24:34,170 --> 00:24:37,650
day, then you're open next to a Dunkin Donuts. So you're open up to,

394
00:24:37,810 --> 00:24:41,490
you know, that this, you know, European wax or

395
00:24:41,810 --> 00:24:45,330
lash amazing lash or what have you, where you're like, look, you just don't have

396
00:24:45,330 --> 00:24:48,970
enough programs on the calendar to actually generate enough

397
00:24:48,970 --> 00:24:52,730
revenue. What are some of the things that you see is maybe just like, you

398
00:24:52,730 --> 00:24:56,510
know, industry benchmarks to say like, look, we got to get you up to X

399
00:24:56,590 --> 00:24:59,630
for you to even be relevant and to stay alive.

400
00:25:00,670 --> 00:25:03,790
Yeah. One of the first things that I'll look at with a new client is

401
00:25:04,030 --> 00:25:07,510
instead of just revenue targets, I like to look at expense

402
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categories as a percentage of revenue. So we'll look at studio

403
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payroll as a percentage of revenue, marketing,

404
00:25:15,470 --> 00:25:19,110
rent and operations, all the different categories. And

405
00:25:19,110 --> 00:25:22,710
actually one of the things that I would love to gift your listeners, I created

406
00:25:22,710 --> 00:25:26,380
a calculator for, for just the average business owner. It's

407
00:25:26,380 --> 00:25:30,100
more high level analysis than what we do. Where

408
00:25:30,100 --> 00:25:33,540
you enter in your revenue, you enter in different expense categories and it will help

409
00:25:33,540 --> 00:25:37,340
you show you where you're spending too much or too little, or if you

410
00:25:37,340 --> 00:25:40,980
have a revenue problem where we need to just generate more revenue. So

411
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that will be in the show notes with the link

412
00:25:44,700 --> 00:25:48,460
where you can download that calculator. And so just like some basic

413
00:25:48,460 --> 00:25:52,290
assumptions that I like to call out from like a marketing standpoint, I usually

414
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try and have people stay around 10% unless we're in growth

415
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mode and there's a specific strategic initiative around it where we want to punch

416
00:25:59,690 --> 00:26:03,210
out a bunch more ad spend. Rent,

417
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Ideally less than 10%. 7 to 8% of

418
00:26:07,170 --> 00:26:09,770
total revenue would be super ideal,

419
00:26:10,970 --> 00:26:14,330
which probably sounds crazy to some people, but it's definitely possible

420
00:26:15,930 --> 00:26:19,560
with the right strategy and with payroll like that, in my

421
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opinion, payroll is going to be your most expensive line item

422
00:26:23,040 --> 00:26:26,760
after rent. And so we try and keep our Studios

423
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payroll around 30% of total

424
00:26:30,800 --> 00:26:34,440
revenue. And then there's other buckets that we have. But I think payroll, renting,

425
00:26:34,440 --> 00:26:38,200
utilities and marketing are the ones that I like to

426
00:26:38,200 --> 00:26:42,040
focus on initially. And that's what's driving that calculator template

427
00:26:42,040 --> 00:26:45,600
that you guys. Yeah. And then from a sales and marketing

428
00:26:45,600 --> 00:26:49,160
standpoint, we used to own a couple of bar businesses

429
00:26:49,480 --> 00:26:53,080
and one of the things that kind of shocked me is the lack of

430
00:26:53,480 --> 00:26:57,240
co op marketing that people could and should be doing

431
00:26:57,560 --> 00:27:01,400
in their local strip center. You know, if you're, if you're next

432
00:27:01,400 --> 00:27:05,240
to a, a hair salon and you are a,

433
00:27:05,320 --> 00:27:08,760
you know, Pilates or bar business, the fact that either the

434
00:27:08,760 --> 00:27:12,360
manager at that location doesn't have a comp membership or

435
00:27:12,360 --> 00:27:16,090
doesn't have, you know, get a haircut and get a free bar workout

436
00:27:16,090 --> 00:27:19,930
or you know, you know, at like

437
00:27:19,930 --> 00:27:23,730
a first watch, you know, breakfast place where they're doing like 300 or

438
00:27:23,730 --> 00:27:27,450
400, you know, you know, transactions a

439
00:27:27,450 --> 00:27:31,130
day. Like, how are they not just putting in there? Like, you know, our friends

440
00:27:31,130 --> 00:27:34,890
at xbar, you know, want to welcome you to this. Show

441
00:27:34,890 --> 00:27:38,690
your receipt, get a, you know, and get a, get a three day pass. Or

442
00:27:38,770 --> 00:27:42,480
like, are you seeing a lot of people think like, oh, my SEO this,

443
00:27:42,480 --> 00:27:45,960
my SEO that. It's like, there are people with cars that drive in here that

444
00:27:45,960 --> 00:27:49,040
pass by and they have no idea what's going on inside here. Like, why don't

445
00:27:49,040 --> 00:27:52,840
we actually talk to them, build relationships? So are you seeing a lot

446
00:27:52,840 --> 00:27:56,479
of that? Like, people are like, oh, I did email marketing, I did text messaging.

447
00:27:56,479 --> 00:27:59,440
It's like, why don't you talk to people? You know,

448
00:28:00,640 --> 00:28:03,920
I'm laughing because this happens every,

449
00:28:04,400 --> 00:28:07,840
almost every new client we get. It's a huge gap,

450
00:28:08,210 --> 00:28:11,970
which is like an easy win for us to help them with community marketing and

451
00:28:11,970 --> 00:28:15,650
having their studio manager or their event, whoever is in

452
00:28:15,650 --> 00:28:19,250
charge of this, get out in the community and Create those relationships.

453
00:28:19,410 --> 00:28:22,970
I also think because our world has become so digital, even

454
00:28:22,970 --> 00:28:26,690
having the front desk team learn how to have conversations with

455
00:28:26,770 --> 00:28:30,410
people that are coming into the studio is a huge area of

456
00:28:30,410 --> 00:28:34,050
opportunity that we help our clients with. One of our coaches, Jamie,

457
00:28:34,130 --> 00:28:37,690
has this amazing sales training. At the crux of it, it's

458
00:28:37,690 --> 00:28:41,490
basically teaching you how to have conversations, but it's teaching you how to

459
00:28:41,490 --> 00:28:43,810
have conversations based on different

460
00:28:45,490 --> 00:28:49,250
behavior attributes, that you can identify people in

461
00:28:49,250 --> 00:28:53,090
certain Personas and certain behaviors. And so based on their certain

462
00:28:53,730 --> 00:28:57,250
Persona or behavior, we know how to talk to them based on what they want.

463
00:28:57,250 --> 00:29:01,090
So it really helps our studios with conversion. She

464
00:29:01,090 --> 00:29:04,810
did a training back in November,

465
00:29:04,810 --> 00:29:08,410
so it was about three or four months ago for a client. And the

466
00:29:08,410 --> 00:29:11,130
last two months, this client's

467
00:29:12,010 --> 00:29:15,730
new sales numbers have way

468
00:29:15,730 --> 00:29:19,290
overblown budget. Like, for example, we had, like, 50

469
00:29:19,290 --> 00:29:22,650
was her goal, and I think she hit, like, 75 new sales.

470
00:29:22,890 --> 00:29:26,650
That's amazing. Yeah. So we're just, like, really learning how to have conversations, and

471
00:29:26,730 --> 00:29:30,490
taking sales out of the process and making it more conversational

472
00:29:31,350 --> 00:29:34,550
is a shift that we really help clients with. She actually would be very mad

473
00:29:34,550 --> 00:29:38,150
at me if I called it a sales training, because it's not a sales training.

474
00:29:38,150 --> 00:29:41,790
We're actually, like, teaching you how to have conversations. But the word sales is

475
00:29:41,790 --> 00:29:45,350
what I think resonates most with people. Yeah, gotcha.

476
00:29:46,310 --> 00:29:49,510
In closing here, just to keep it under our cap,

477
00:29:50,630 --> 00:29:53,670
how bullish are you on the boutique studio space?

478
00:29:54,470 --> 00:29:58,200
And do you have franchisees that are

479
00:29:58,200 --> 00:30:01,960
under a franchisor where you're like, look, I know this is the operating

480
00:30:01,960 --> 00:30:05,680
model that you're supposed to do deploying, but let me pour some rocket fuel

481
00:30:05,680 --> 00:30:09,280
on here. And you might become the best franchisee and kind of

482
00:30:09,280 --> 00:30:13,080
listen to me, but you stay within the parameters of, you know, your

483
00:30:13,080 --> 00:30:16,440
franchise agreement. Yeah, franchise.

484
00:30:16,760 --> 00:30:20,480
Franchises are tough. Right. Because I think you believe

485
00:30:20,480 --> 00:30:23,360
that you're coming into a business and you're getting a business in a box, and

486
00:30:23,360 --> 00:30:26,560
the franchisor, in theory, is supposed to do all these things to set you up

487
00:30:26,560 --> 00:30:30,340
for success. But in actuality, there's a lot of

488
00:30:30,340 --> 00:30:33,620
gaps in training, a lot of gaps in specific sales

489
00:30:33,620 --> 00:30:37,260
processes, and you're having to pay a lot of money out to franchise fees and

490
00:30:37,260 --> 00:30:40,900
this fee, and you have to order things a certain way. Everything is

491
00:30:40,900 --> 00:30:44,500
just so scripted, which could be great for some people, but the

492
00:30:44,500 --> 00:30:48,060
clients that like working with me are like me. We're true entrepreneurs, and we want

493
00:30:48,060 --> 00:30:51,780
to do things our own way. And so something that we've been really working

494
00:30:51,780 --> 00:30:55,560
on as a Business is how can we give our clients a business

495
00:30:55,560 --> 00:30:59,400
in a box, but instead of it being somebody else's business, it's

496
00:30:59,400 --> 00:31:03,200
exactly the business that you want to build. And so through all of our

497
00:31:03,200 --> 00:31:06,960
partnerships and coaching, we hit all of those pieces that you would

498
00:31:06,960 --> 00:31:10,640
get from a franchisor as a business in a box. But it's even

499
00:31:10,640 --> 00:31:14,160
better because it's yours and you can make whatever decisions you want or need to.

500
00:31:14,400 --> 00:31:18,160
And that's where the creativity of working with our team really comes into play

501
00:31:18,960 --> 00:31:22,720
and not having any rules and getting to do whatever you want to make

502
00:31:22,720 --> 00:31:25,840
money. I kind of wrote this down as a. As a joke to myself as

503
00:31:25,840 --> 00:31:29,480
you were talking at the beginning. That says you should have, like, little font letters

504
00:31:29,480 --> 00:31:33,000
that they could put on their sign that says, like, buy Active Core or like

505
00:31:33,000 --> 00:31:36,759
profitable by Active Core at the bottom, like the top of the

506
00:31:36,759 --> 00:31:40,520
sign coming in. And then, you know, in closing, do you

507
00:31:40,520 --> 00:31:43,400
have any. Have any good quotes or anything you live by or

508
00:31:43,720 --> 00:31:47,000
Laurenisms inside your company that you could share with us?

509
00:31:47,600 --> 00:31:51,240
Yeah, something that Jamie and I created really early on

510
00:31:51,240 --> 00:31:54,720
because both of us are recovering perfectionisms and

511
00:31:54,720 --> 00:31:57,680
just super high achievers. And as an entrepreneur,

512
00:31:58,240 --> 00:32:01,680
perfectionism has to be thrown out the window. So whenever we're working on something

513
00:32:02,000 --> 00:32:05,760
and if we feel like it's taking too long, we ask ourselves, is it right?

514
00:32:05,840 --> 00:32:09,000
Like, fuck it, ship it. Sorry if we can't curse on here. No, you can

515
00:32:09,000 --> 00:32:12,160
curse on here. It's actually preferred. Great.

516
00:32:12,640 --> 00:32:16,070
Fuck it, ship it. Is it in a place where it's good enough and we

517
00:32:16,070 --> 00:32:19,790
can put it out to the world and at least starting to get some traction

518
00:32:19,790 --> 00:32:23,630
on it? Because we know 50 to 75%

519
00:32:23,630 --> 00:32:27,430
of us is most people's hundred percent. So, yeah, good

520
00:32:27,430 --> 00:32:30,830
point. Ask yourself. It, Ship it. Stop overthinking. Stop with the

521
00:32:30,830 --> 00:32:34,670
perfectionism. The world just needs your gifts and whatever you can.

522
00:32:35,470 --> 00:32:39,270
I like it. All right, From a fellow goalkeeper to another, thanks for keeping

523
00:32:39,270 --> 00:32:42,990
a defense tight. And, you know, you can be my sweeper,

524
00:32:42,990 --> 00:32:46,830
my striker, or vice versa. So I love it. I was all of

525
00:32:46,830 --> 00:32:50,430
those too. So we can play the game. Stopper. Stopper. Sweeper.

526
00:32:50,430 --> 00:32:54,270
Sweeper or stopper. I said striker. Deal with those guys. Awesome. Thank you for having

527
00:32:54,270 --> 00:32:54,630
me.