Your Business Magazine 2022 - 384

ADVERTISEMENT FEATURE
Boutique fitness
- the franchise phenomenon
you need to know about
Set for double-digit sector growth in 2022, boutique fitness is a franchise phenomenon.
Kevin Yates, CEO of TRIB3, explains how his company has come on in huge leaps and
bounds over the past four years
A
fter two years spent living
under various restrictions
on movement, consumer
appetite for experiences
and social connection has only
intensified. The boutique fitness
sector is set for huge growth this
year, capitalising on this " experience
culture " and offering high-service,
focused fitness concepts that deliver
rich, " tribal " consumer experiences.
One brand is leading the charge.
Boutique fitness franchisor TRIB3,
founded in 2016 and franchising since
2018, has expanded into 11 global
territories with its franchise model.
Offering the ultimate high-intensity
group workout experience, underpinned
by gamification and proprietary heartrate
tracking, TRIB3 has taken the
world of franchising by storm with
its highly shareable industrial-luxe
design and extraordinary commercial
model. We spoke to CEO and founder,
Kevin Yates, to find out more.
You're described as a pioneer of the
boutique fitness model in the UK.
What was the driver for founding
TRIB3? I've always been passionate
about the fitness industry. I've spent
most of my career in this sector, and
have been privileged to work with some
fantastic brands. To be honest, though,
I've always had an entrepreneurial
mindset and have always had my eye on
where there might be gaps in the market.
I started TRIB3 because I wanted
to bring people together - and that's
still integral to our purpose and values.
We're creating the opportunity for
people to own and operate their own
fitness business, so they in turn can
create teams and communities.
How does the TRIB3 model work
and how do franchisees fit into it?
We call our model " volume boutique " .
When we came up with the concept for
TRIB3, it was about harnessing the most
intrinsic and special part of the boutique
fitness experience - community, loyalty,
referrals - but making it scalable
and accessible for franchising.
We developed the business model
based on 1,500 to 4,000sq ft of
floorspace, where we could cater for 42 to
60 people at a time in a studio, and where
we also had room for a mixology protein
bar, retail area and reception. Crucially,
we wanted break-even to come at less
than 30% class occupancy through the
high-volume studio layout; we've actually
got it down to around 25% thanks to
our low build and operating costs.
Our team of talented interior designers
and property experts has created
an industrial-luxe aesthetic that is
really shareable and feels intrinsically
premium but is very cost-effective to
build. As it stands, we've sold over 70
locations worldwide and our franchise
partner network spans 11 countries.
Our franchise partners are so important
to us and we focus on ensuring we can
offer world-class support and training.
Your Business Magazine 2022

Table of Contents for the Digital Edition of Your Business Magazine 2022
