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