FRANCHISEFOCUS TRIB3 also has several more planned openings on
the horizon including a sixth international territory with a first store in the Netherlands, two locations in Barcelona and 10 more stores planned for the UK including an exciting area development across Greater Glasgow and two stores in Manchester.
"The most popular area of industry for potential business founders currently is health and wellbeing"
The boutique model TRIB3’s success lies in its unique studio design and highly-curated brand. Karl Dietrich, chief development officer, says: “Since TRIB3 was launched in 2016, with our signature three-zoned workout, we’ve been augmenting and evolving the experience to what you’ll now see today if you step foot in any TRIB3 studio. It was our vision to take the fundamentally powerful elements of the boutique fitness proposition – such as the strong relationships forged in the group setting and the experience-led design this type of offering demands – but make it highly accessible. Our one studio, one workout model is carefully and uniquely designed so that each studio will typically feature +48 spots-per-session. We term it the ‘volume boutique’ model because we’re able to scale up the power of the group, the power of the community, to something that’s really commercially exciting.” This volume boutique model means that each
new TRIB3 studio can breakeven at prudent and highly achievable occupancy levels through peak- usage loading. It’s also a model that has proved to be extremely resilient to the impacts of Covid-19 and associated distancing and safety measures.
A growth market and a powerful sector Coming into 2021, there has been a rise in entrepreneurialism and an increased interest in franchising, which typically happens after economic downturns. This is the point at which people seize control of their future. In a recent study by Enterprise Nation, one in five Britons said they would like to start their own business. The study also found that the most popular area of industry for potential business founders was health and wellbeing, reinforcing the increasing consumer awareness of personal health and the projected growth of penetration rate for the sector as a result. TRIB3 encourages all prospective franchisees
to not let a lack of direct experience in the fitness industry deter them from stepping into this positive and powerful sector. As a fast-growing
global fitness brand, TRIB3 was founded by one of the pioneers of the UK boutique fitness market, CEO Kevin Yates, and the support team working with him has over a century of combined experience in the industry. Many of the first franchisees to join the TRIB3 network had little or no working experience in the sector but came with a tremendous passion for fitness which, underpinned by over 150 hours of dedicated training and ongoing support, translates to continued next-level results.
How TRIB3 creates powerful brand advocates As a TRIB3 store matures, 80 per cent of revenue will come as repeat purchases from a store’s existing customer base and a huge proportion of new leads will be generated by referrals from this highly engaged source. This is the power of a community-centric business model. TRIB3’s net promoter scores (NPS) are consistently +60 and were even higher after lockdown, with an average of +76. The brand also saw over an 80 per cent return rate in its UK stores just one month after the lifting of the first of the country’s national lockdowns. Additionally, all UK stores were EBITDA positive in 2020 every month that they were operating. Valued at over £95billion globally in 2019, the boutique model represents the fastest-growing proposition within the fitness industry as people increasingly seek rich ‘tribal’ consumer experiences. TRIB3 can help you harness the most powerful, social elements of the smaller and intimate boutique model and fuse them with a unique studio design which maximise space and results, even with distancing measures in place.
TRIB3
Boutique gym
trib3.co.uk/franchise
BUSINESSFRANCHISE.COM 81
Investment level: £100k+ *investment level can be reduced up to c.50% with bank funding
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