Are There Too Many Options Already In Order to Invest in The Australian Fitness Industry?
Episode Timeline
- 0:00 – Intro
- 0:44 – The elephant in the room in fitness: are there too many fitness concepts?
- 1:05 – Sam’s thinking on fitness businesses & importance of USP
- 2:01 – Thinking deeply about who they want to attract
- 3:10 – Industry not doing enough to get members results
- 5:14 – Finding gaps in the industry when opening new locations
- 7:18 – How many gyms can be opened?
- 8:50 – One store towns & the lure of regional success
- 10:29 – What to look for in a location for a gym
- 11:54 – Knowing your customer & suggesting competitors if better fit
- 13:23 – Industry maturity, niches & more brands appearing
- 14:00 – Why Sam wouldn’t start a gym franchise now
- 15:26 – Being personal & contactable as a franchisor
- 16:36 – Conclusion
Sam Waller started as a personal trainer turned franchisee, then became the franchisor of Stepz Fitness, growing the network carefully to 25 locations at the time of filming.
He has some strong opinions on where the gaps in the market are.
If you are not in fitness in franchising, you probably have an instinctive feeling that there are simply too many concepts out there competing against each other for the same customer.
But is this instinctive feel true? Are they actually competing for the same customer and is there much more to it?
Sam has strong views through his extensive experience and focuses our chat on the importance of a strong unique selling proposition (USP), exactly who you are serving in the market, location factors, and the lure and challenges of regional Australia.
