How to Valuate Your Business w/ Micheal O'Koomian

Imagine if you had a secret weapon that could take on the routine tasks of your fitness business, freeing you up to do what you love most. That's exactly what Rick Mayo and Ted Vickey dive into in this episode. Ted, a professor and AI expert with a fascinating career from the White House to consulting for tech giants, reveals how AI can be your best business partner. Things such as generating tailored workouts and handling marketing content are some of the routine tasks AI will take off your plate. Ted explains how AI tools like ChatGPT can keep your clients engaged without compromising the personal touch they crave. This isn't about robots taking over the gym. Instead, Ted shares how AI can handle everything from emails to custom social media posts, letting you spend less time on paperwork and more time building real connections. Whether you're new to AI or already dabbling, this episode contains tips that could change your business. Listen in and see how AI can make your work easier and more impactful! Key TakeawaysIntro (00:00)Ted’s background, including work at the White House (01:16)Ted's new book on AI for fitness professionals (09:11)AI for content creation and social media (13:01)Ted discusses AI's role in online personal training (15:50)AI use in client communication and complaint management (22:49)How AI can help streamline marketing and email outreach (25:14)AI in academia and its impact on education (29:24)Future AI applications in fitness and augmented reality (30:14)Additional Resources:The Fitness Professionals Guide to ChatGPT by Dr. Ted Vickey: https://www.amazon.com/Fitness-Professionals-Guide-ChatGPT/dp/B0DBTVBWT1- Alloy Personal Training- Learn About The Alloy Franchise Opportunity---------You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.If you haven’t already, please rate and review the podcast on Apple Podcasts!

What does it really mean to be a great leader? In this episode, Rick Mayo and Suzanne Robb take a fresh look at The Five Temptations of a CEO by Patrick Lencioni, and you might be surprised by what’s holding most leaders back.Leadership is less about maintaining appearances and more about building real trust. Rick and Suzanne tackle the traps that leaders at all levels fall into—like prioritizing status over results and avoiding accountability for popularity's sake.But they don’t just outline these temptations; they share actionable steps for creating a culture of clarity, accountability, and authentic success.Don’t miss this episode! Listen now and learn how to become the leader you’ve always wanted to be.Key TakeawaysIntro (00:00)The Five Temptations of a CEO (02:10)First temptation: Status over results (03:03)Second temptation: Popularity over accountability (10:14)Third temptation: Certainty over clarity (14:32)Fourth temptation: Harmony over conflict (18:39)Fifth temptation: Invulnerability over trust (23:41)Additional Resources:The Five Temptations of a CEO: https://www.amazon.com/Five-Temptations-CEO-Anniversary-Leadership/dp/0470267585- Alloy Personal Training- Learn About The Alloy Franchise Opportunity---------You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.If you haven’t already, please rate and review the podcast on Apple Podcasts!

In this episode, Rick Mayo interviews Michael O'Koomian, founder of MOK Advisors, to talk about the intersection of fitness and finance. Michael has a rare combination of experience, having operated fitness businesses and worked on Wall Street.He shares his journey from fitness entrepreneurship to advising multimillion-dollar mergers and acquisitions.The conversation explores how to value and scale businesses, especially in the fitness franchising space. Michael explains how fitness franchisees should think about business valuation as a multiple of EBITDA and provides practical advice for scaling operations and planning an exit.Michael also discusses key trends in the health and wellness sector, including the rising importance of strength training. The episode closes with advice on future opportunities in the industry and how to grow and exit a fitness business successfully.Whether you're running a fitness franchise or simply interested in the business side of fitness, this episode is packed with expert advice. Tune in!Key TakeawaysIntro (00:00)Emotional eating and personal weight loss journey (03:07)Transition from corporate consulting to fitness entrepreneurship (10:57)Combining banking experience with fitness to offer unique business solutions (19:55)How to value a franchise business using EBITDA multiples (26:54)The benefits of scalability in fitness franchises like Alloy (32:28)Opportunities in the fitness sector for growth and acquisition (38:44)The impact of post-pandemic consumer behavior on boutique fitness (43:22)Future trends in strength training and fitness investments (48:37)Additional Resources:- MOK Advisors: https://www.mokadvisors.com- Alloy Personal Training- Learn About The Alloy Franchise Opportunity---------You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.If you haven’t already, please rate and review the podcast on Apple Podcasts!

In this episode, Rick chats with Alloy franchisee Mike Jewett about his success with organic marketing for his Alloy location.Mike shares how he built a solid base of leads before launching his Alloy Personal Training franchise just by wearing branded gear and talking to people. With over 300 leads generated and 24 booked sessions before training day, Mike reveals the secrets to his pre-sale success.Mike also touches on his strategy for engaging with his local chamber of commerce, attending events, and forming partnerships with local businesses. This helped him build strong relationships and set the foundation for his gym's success.Mike, a former tech professional, discusses the need to overcome the fear of bothering people with organic marketing approaches.If you're considering buying a franchise or starting a business, this episode is a goldmine for actionable marketing strategies. Listen in to learn how to build your leads before opening your doors!Key TakeawaysIntro (00:00)Mike’s background in tech and transition to franchising (03:10)Organic marketing through wearing branded gear (08:29)Joining the local chamber of commerce for networking (14:16)Building partnerships with other businesses (18:45)Reaching over 300 leads before pre-sale (26:32)Mike's long-term plans for growth and expansion (31:10)Additional Resources:- Alloy Personal Training- Learn About The Alloy Franchise Opportunity---------You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.If you haven’t already, please rate and review the podcast on Apple Podcasts!

The over-50 demographic controls 70% of the nation’s disposable income, yet most fitness marketing targets younger audiences.Why?Because we’re used to thinking younger is better. But here’s the truth: Older adults are willing to spend more and stick around longer if you can meet their specific fitness needs.In this episode, Rick speaks with Jay Croft, a new Alloy vendor, on why sending consistent newsletter content to your email list is so important.Rick and Jay break down how fitness businesses can tap into this underserved market by offering personalized fitness programs and maintaining consistent communication through email newsletters and social media.Jay, with years of experience in journalism and corporate communications, shares how he's helped gyms transform their approach to reach older adults effectively.Tune in now to change your approach to fitness marketing to over-50s.Key TakeawaysIntro (00:00)Jay's transition to fitness marketing for the over-50 demographic (03:27)Alloy's focus on the underserved over-50 market (07:10)Importance of consistent communication in marketing (10:36)Value of email newsletters for gym owners (14:27)Balancing informative content with promotional messages (17:44)Relevance of content in email marketing (20:40)Jay's new role as an essential vendor for Alloy franchisees (23:43)Alignment between Jay's approach and Alloy's philosophy (27:24)Benefits of outsourcing email marketing to an expert (30:23)Additional Resources:- Prime Fit Content: https://primefitcontent.com/- Alloy Personal Training- Learn About The Alloy Franchise Opportunity---------You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.If you haven’t already, please rate and review the podcast on Apple Podcasts!

In this episode, Rick Mayo sits with his son, Jake Mayo, a Naval Academy graduate and submarine officer. Jake shares invaluable leadership tips learned from his experience in one of the most high-pressure environments—the military's submarine division.As a submarine officer responsible for critical, life-altering decisions, Jake shares how decisiveness, honesty, and fostering team resilience are key to successful leadership.He also explains how to build strong team dynamics, even in confined and high-stress settings, drawing clear parallels to leading a business.The episode covers essential leadership topics such as creating a culture that embraces failure for growth, maintaining professional boundaries while being personable, and the importance of making decisions—even if they’re wrong.Tune in to discover how lessons from military service can elevate your business leadership.Key TakeawaysIntro (00:00)Jake’s background in Naval service (02:36)Leadership in high-stress environments (05:58)Managing submarine operations (10:15)Importance of honesty in leadership (15:30)Making decisions under pressure (17:52)Building a resilient team (21:18)Balancing decisiveness with thoughtfulness (29:28)Additional Resources:- Alloy Personal Training- Learn About The Alloy Franchise Opportunity---------You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.If you haven’t already, please rate and review the podcast on Apple Podcasts!

In this episode, Rick Mayo shares his 30-year journey in the fitness industry. From running a small gym in Atlanta to building a successful fitness franchise with over 300 locations, Rick reveals how he created a model that brings the benefits of personal training to group settings.He pinpoints the importance of community and accountability in fitness, particularly for adults aged 45-65, who comprise Alloy's core clientele.Rick explains the benefits of small group training, which provides affordability, camaraderie, and personalized fitness plans.He also shares how the COVID-19 pandemic reinforced the need for in-person interaction as clients returned to gyms for social and psychological benefits.Rick advocates for the broader mental and physical advantages of consistent strength training and the supportive environment Alloy franchise creates.Tune in!Key TakeawaysIntro (00:00)Rick Mayo’s fitness journey and the founding of Alloy (00:48)The pivot to group training and its benefits (04:12)Strength training’s importance, especially for aging adults (09:15)Post-COVID fitness trends and the return to in-person gyms (10:16)The role of community in fitness success (15:01)New Alloy locations and cross-promotions (17:05)Rick’s personal fitness routine and longevity tips (20:34)Balancing fitness with mental and emotional health (27:39)The value of setting high goals and moving in that direction (30:53)Additional Resources:- Alloy Personal Training- Learn About The Alloy Franchise Opportunity---------You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.If you haven’t already, please rate and review the podcast on Apple Podcasts!

In this episode, Rick sits down with Alloy's COO and partner, Suzanne Robb, to discuss the details of her history and role with Alloy.Suzanne shares her personal journey from client to COO and explains the importance of genuine partnerships between the franchise and its franchisees.She also discusses the importance of complementary leadership styles and the value of continuous learning and adaptation in business.Suzanne also reveals how Alloy navigated the COVID-19 pandemic and the importance of financial discipline and strategic thinking during tough times.Rick and Suzanne reflect on the dynamic relationship between visionary leadership and operational integration, showing how their partnership drives Alloy's success.Tune in to learn more about Alloy’s approach to growing a fitness business, supporting franchisees, and building strong teams. Hit play now!Key TakeawaysIntro (00:00)Suzanne's journey to becoming COO (02:53)The importance of having equity and security as a partner (09:40)Biggest challenges during COVID-19 (20:34)Alloy's growth five years in (23:14)Looking ahead: Suzanne's future vision for the company (24:55)Additional Resources:- Alloy Personal Training- Learn About The Alloy Franchise Opportunity---------You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.If you haven’t already, please rate and review the podcast on Apple Podcasts!

Opening a new franchise location is always exciting, but the complexities of commercial leases can be overwhelming.In this episode, Rick speaks with Alloy VP of Real Estate and Studio Development, Jared Breen, about the main negotiating points of your commercial lease.Rick and Jared discuss the key financial terms, such as rent abatement and tenant improvement allowances, that can significantly impact the overall cost of opening a franchise.They also highlight the importance of timing and coordination between securing a lease and obtaining funding, as well as the need for franchisees to be well-prepared financially.You'll learn about the importance of educating landlords about the franchise's operations to negotiate better lease terms.Jared shares his experience in reducing the time from franchise signing to opening, benefiting both franchisees and the franchisor.Listen now to get the inside scoop on how to navigate commercial leases and set your franchise up for success! Key TakeawaysIntro (00:00)Lease negotiation strategies (02:16)The ideal timeframe for lease negotiations (04:38)Importance of educating landlords about the franchise model (06:41)Tenant improvement allowances and rent abatement (12:06)Financial planning and the importance of liquid capital (18:06)Timing for securing SBA funding in the lease process (22:41)Coordinating lease signing with funding availability (24:37)Understanding the broader financial implications of lease terms (27:52)Additional Resources:- Alloy Personal Training- Learn About The Alloy Franchise Opportunity---------You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.If you haven’t already, please rate and review the podcast on Apple Podcasts!

Are you considering investing in a fitness franchise but worried about potential pitfalls?In this episode, Rick sits down with Alloy zealot Rami Odeh about the importance of following the process as it pertains to business success.Rami owns six Alloy locations and also works as a franchise consultant. He candidly shares his personal experiences and mistakes he has made from his first Alloy location to now.He shared his firsthand experiences of what happens when you deviate from the established playbook.But it’s not all doom and gloom. In this conversation, you’ll learn the exact steps to avoid these pitfalls. From real estate blunders to hiring missteps, you’ll hear real-world examples that can save you time, money, and stress.Rick and Rami also talk about the importance of community within the franchise system, the value of transparency in performance sharing, and how competitive spirit drives success.Tune in now to learn how following the proven Alloy playbook will lead to franchise success!Key TakeawaysIntro (00:00)Transparency in franchising experiences (03:27)First challenge: Deviating from Alloy's real estate process (07:06)Importance of following the franchise playbook (14:13)Second challenge: Ignoring hiring best practices (17:06)Third challenge: Taking the foot off the gas after initial success (28:29)Value of franchise community and performance sharing (35:27)Pivoting quickly when strategies aren't working (40:22)Pricing tiers across different markets (44:56)Follow the play. It’s as simple as that (47:10)Additional Resources:- Alloy Personal Training- Learn About The Alloy Franchise Opportunity---------You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.If you haven’t already, please rate and review the podcast on Apple Podcasts!