エピソード

  • HALO Talks Fast Break: Behind the Numbers-Health Club Multiples and Market Transformations

    HALO Talks Fast Break: Behind the Numbers-Health Club Multiples and Market Transformations
    2025/07/24

    In today's 𝗛𝗔𝗟𝗢 𝗧𝗮𝗹𝗸𝘀 𝙁𝙖𝙨𝙩𝘽𝙧𝙚𝙖𝙠 we're excited to bring you another portion of our panel discussion at the recent Athletech News Innovators Summit held in NYC, July 2025.

    Integrity Square Founder Pete Moore had the pleasure of moderating a panel with Mark Federico (CEO of Crunch Fitness CR Fitness Holdings, LLC) and Terry Blachek (Orangetheory Fitness) for a deep dive into the real-world challenges—and strategies—of scaling fitness franchises.

    • M&A Is More Than Just Numbers: At its core, M&A is (also!) about “multiples and add-backs” 😉—understanding valuation drivers and how projecting future growth (and dealing with the inevitable aftershocks) can make or break a deal.

    • The HALO Sector Has Transformed: Once dominated by just a few big players, the space is now segmented with unique opportunities (and risks) for each vertical. Brands like EoS, Vasa, and Fitness Connection may look new, but actually. . . many are evolutions of legacy Gold's clubs.

    • Valuations: Investor sentiment is extremely strong right now, with leading brands commanding impressive multiples (EoS at 13x, Crunch corporate at 18x.) A diverse club portfolio across states also usually means higher valuation and more investor interest.

    We encourage everyone to work hard to understand the bigger picture that's literally happening right now in health club M&A—beyond just the financials.💡

    Want to learn more? (You should. Otherwise you're playing checkers while the rest of the industry plays chess.)

    Give us 10 hours of your time at the next HALO Academy starting Sept 8, 2025. Register at https://www.thehaloacademy.com now for $495 and earn a $100 gift card from our friends at Promotion Vault. Testimonials at https://www.thehaloacademy.com/testimonials

    ======================================================

    Thanks to Promotion Vault and HigherDOSE for sponsoring. For 15% off products sitewide (excluding bundles, kits, and full saunas) use the code GOHALO at https://www.higherdose.com
    続きを読む 一部表示
    3 分
  • HALO Academy Two Minute Financial Drills: Closing

    HALO Academy Two Minute Financial Drills: Closing
    2025/07/23

    𝗛𝗔𝗟𝗢 𝗔𝗰𝗮𝗱𝗲𝗺𝘆 𝗧𝘄𝗼 𝗠𝗶𝗻𝘂𝘁𝗲 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗗𝗿𝗶𝗹𝗹𝘀: 𝗖𝗹𝗼𝘀𝗶𝗻𝗴

    Navigating the Final Steps in Asset Sales—What Happens After You Sign?

    If you've been following along, Pete Moore has breaking down what’s happening behind the scenes as five groups compete to acquire 20 health clubs.

    In our latest 2 Minute Financial Drill, he goes behind the scenes of what happens after signing an APA ("Asset Purchase Agreement.") Here’s what’s happening once the ink dries:

    After a series of back-and-forth's (think maybe 3-5 rounds of drafts between lawyers!), both the buyer and seller are now locked into detailed representations ("reps") and warranties. Every piece of information—disclosures about competitors, potential lawsuits, or governmental issues—must be fully transparent.

    Also? These reps and warranties don’t just disappear right after closing; they can survive for years, or even indefinitely if it involves major issues like ownership or taxes.

    But we’re (not even close) to finished yet! 𝗘𝗻𝘁𝗲𝗿: 𝗧𝗵𝗲 𝗟𝗲𝗮𝘀𝗲 𝗔𝘀𝘀𝗶𝗴𝗻𝗺𝗲𝗻𝘁 𝗣𝗿𝗼𝗰𝗲𝘀𝘀!

    If you’re selling a group of clubs (and don’t own the real estate), every lease needs to be transferred—with landlord consent. This means approaching every landlord individually to get their sign-off on the new buyer. If the seller is still guaranteeing any lease, efforts are made to release or indemnify them, so later liabilities don’t haunt them after the sale is done.

    We go into much more detail in the HALO Academy. Registration open now for our September cohort: https://www.thehaloacademy.com

    続きを読む 一部表示
    2 分
  • Episode #559: Breaking Down Misconceptions-Kristin Anderson Discusses the Art and Science of Pilates

    Episode #559: Breaking Down Misconceptions-Kristin Anderson Discusses the Art and Science of Pilates
    2025/07/22
    In this episode, host Pete Moore sits down with Kristin Anderson, a trailblazer in the HALO sector and a well-known, high-profile Pilates instructor out of Los Angeles. Kristin shares her journey from competitive figure skating to entrepreneurship, revealing how her passion for movement has shaped her approach to helping others live healthier, more balanced lives. Kristin drives home points about "the power of small, consistent movement," the enduring value of Pilates, and how she's leveraging technology to make fitness more accessible. This is a fun one! And it's packed with inspiration, wisdom, and practical advice for anyone looking to “feed their humanity” through movement—plus a nod to shared passions for Taylor Swift and how Pilates is benefiting everyone from pop stars to pro athletes! Anderson is known for successfully launching several products, though being ahead of the curve hasn't always been easy—sometimes leading to frustration or skepticism from others. Still, her ability to anticipate change and her commitment to personal authenticity keep her moving forward. When discussing a healther future, she says, "This is fighting for what you believe in! You guys (Integrity Square) are about getting rid of childhood diabetes and obesity, because those things are still around, and you can't sleep at night when it's going on out there! I have that same thing. It's like . . . it's just a tiny bit of movement. It makes me feel better, you feel better, and then I still have time to do all my other things, because when I get out of balance, it's not good." Key themes discussed Scaling wellness and Pilates impact beyond local communities.The benefits and science behind Pilates practice.Movement as a tool for mental and physical well-being.Balancing personal career ambitions with community contribution.The evolving role of technology in fitness and Pilates.Importance of daily movement—no need for lengthy workouts.Pilates’ integration into sports, rehabilitation, and "mainstream" fitness. A few key takeaways: 1. Movement Is Essential—Not Just for Fitness, But for Life: Kristin emphasizes that movement isn’t just about working out or looking a certain way—it’s about staying healthy, feeling good, and functioning well in everyday life. She says, "Some kind of movement, regardless of who you are, will get you some endorphins . . . and that actually influences the rest of your life and all these other areas that we're always trying to knock down.” 2. The Power of Scaling Positive Impact: Kristin shares how her drive isn’t about money— it’s about helping more people through movement. She believes in a “butterfly effect”: helping one person move better can ripple outward to help countless others, feeding her “purpose” of giving someone the gift of a better day. 3. Pilates Is Here to Stay—and Evolving: As a Pilates innovator, Kristin points out that Pilates is no passing fad. It has become a foundational movement system for everyone from athletes (like the Kansas City Chiefs and Taylor Swift!) to everyday people. She predicts that Pilates principles will become further ingrained in mainstream fitness and even children’s physical education. 4. Balance and Community Matter for Longevity and Joy: Kristin talks about how she structures her own schedule to balance client work, creative projects, personal pursuits, and mentorship—because “when I get out of balance, it's not good.” She stresses the importance of community, connection, and feeding “your humanity.” 5. Pilates (and Movement) Is Becoming More Accessible and Customizable Looking to the future, Kristin sees Pilates (and movement-based wellness in general) getting even more personalized. Whether it’s bite-size routines for specific goals (like sport recovery or rehab) or leveraging tech/AI to deliver targeted programs, she envisions a world where the benefits of Pilates are widely available and “normalized.” Resources: Kristin Anderson: https://www.linkedin.com/in/kristin-anderson-thankyou/ HALO Talks 2 Minute Financial Drills (Videos): https://bit.ly/2minutedrills Prospect Wizard: https://www.theprospectwizard.com Promotion Vault: http://www.promotionvault.comHigherDose: http://www.higherdose.com
    続きを読む 一部表示
    26 分
  • HALO Talks Fast Break: Navigating Franchise Growth-Greenfields, Acquisitions, and Scaling Fitness Brands with Private Equity

    HALO Talks Fast Break: Navigating Franchise Growth-Greenfields, Acquisitions, and Scaling Fitness Brands with Private Equity
    2025/07/17

    In today's Fast Break we're excited to bring you (a snippet) of our panel discussion at the recent Athletech Innovators Summit held in NYC, July 2025. Integrity Square Founder and HALO Talks host Pete Moore moderated a panel with Mark Federico (CEO of Fitness Holdings/Crunch Fitness) and Terry Blachek (Orange Theory Fitness) for a deep dive into the real-world challenges—and strategies—of scaling fitness franchises.

    Mark Federico’s Growth Playbook

    • Mark walked us through his journey, from running a nine-club independent brand to leading a 50+ club Crunch Fitness operation across 10 states.
    • He shed light on the big question: Build new locations (greenfields) or buy existing ones (acquisitions)? He shared the calculus behind each approach, breaking down real cost factors and explaining why “development space” is critical for franchisees.

    Franchise Valuation—Not All Clubs Are Created Equal

    • Many single-gym owners want “big company” multiples, but Mark explained why scale, growth runway, and strategic value make a huge difference in valuation.
    • Pro tip: Buying a single club isn’t the same as absorbing a whole region. If you want premium pricing, bring growth potential to the table.

    Financing Franchise Expansion

    • Terry opened up about the risks and strategies he used to finance Orange Theory locations, including SBA loans, finding investor partners, and personally guaranteeing leases.
    • They discussed what it really takes to stand behind a business—sometimes with tens of millions in personal guarantees—long before private equity gets involved.

    The Realities (and Rewards) of Entrepreneurship

    • Both guests emphasized the massive personal and financial risks entrepreneurs take to build these fitness empires. Pete made an important point: These risks deserve respect and reward, not scorn.

    Bonus Insight: The "Microwave vs. Crockpot" Growth Model

    • Terry shared Orange Theory’s approach to expansion, balancing rapid growth with careful, sustainable development. If you're a franchisor or area developer, this is a must-hear perspective.

    Want to learn more? (You should. Otherwise you're playing checkers while the rest of the industry plays chess.)

    Give us 10 hours of your time at the next HALO Academy starting Sept 8, 2025. Register at https://www.thehaloacademy.com now for $495 and earn a $100 gift card from our friends at Promotion Vault. Testimonials at https://www.thehaloacademy.com/testimonials

    ==================================================

    Thanks to Promotion Vault and HigherDose for sponsoring. For 15% off products sitewide (excluding bundles, kits, and full saunas) use the code GOHALO at https://www.higherdose.com

    Resources

    • Athletech News: https://athletechnews.com
    • Mark Federico: https://www.linkedin.com/in/mark-federico-163069182
    • Terry Blachek: https://www.linkedin.com/in/terry-blachek-78431a174
    • Orange Theory Fitness: https://www.orangetheory.com
    • Crunch Fitness: https://www.crunchfitness.com
    続きを読む 一部表示
    7 分
  • Episode #558: Mary Laudati’s Playbook for Boosting Health Club Revenue and Member Loyalty

    Episode #558: Mary Laudati’s Playbook for Boosting Health Club Revenue and Member Loyalty
    2025/07/15
    In this episode, host Pete Moore sits down with Mary Laudati, a seasoned sales and marketing leader with deep roots in the HALO (Health, Active Lifestyle, Outdoor) space. From her days leading the sales group at Sports Club LA to her current role as a consultant working with top clubs across the U.S. and internationally, Mary shares her insights on building effective sales strategies, leveraging cutting-edge software like Salesforce, and creating a powerful culture of member engagement and retention. She provides boots-on-the-ground, immediately actionable tips on using data, recording sales calls, and mystery shopping to pinpoint where clubs are leaving revenue on the table—plus, the importance of strong onboarding and personal connections to keep members coming back. Mary also discusses the latest trends in CRM technology, club operations, and the shift toward shared memberships and referral models. Whether you’re a club owner, sales team leader, or just passionate about the business of the HALO space, Mary’s advice on finding—and keeping—members is pure gold. On early member retention, she states, "Those three months are crucial . . . for those clubs that don't have salespeople, not only do you want to embrace the incoming (they've got to follow up and make a lot of phone calls), but they also have to check on the new members and look at their attendance to make sure that they're coming in." Key themes discussed Importance of sales strategies and processes in health clubs.Customizable CRM/software solutions for sales and retention.The critical role of training and investing in your employees.KPIs, net growth, revenue, and retention.Mystery shopping and call recording for sales team improvement.Enhancing member engagement, onboarding, and relationship-building.Shared membership/referral programs to boost membership and loyalty. A few key takeaways: 1. Sales Process Needs Structure and Ongoing Evaluation: Mary emphasized that many clubs claim to have a strong sales team, but more often than not lack strategies, scripts, or KPIs. She underlined the importance of having sequential, process-driven systems and regular evaluation—often through recording, analyzing calls, and “mystery shopping” the current experience. 2. CRMs and Custom Software Are Game-Changers: A major part of the episode centers around the critical need for effective, customizable CRMs. Mary championed Salesforce for its adaptability, noting her experience implementing it at Millennium Partners. She highlighted recent successes helping clubs (like Powerhouse Gyms in Novi, MI) leverage technology to understand their numbers, coach their teams, and boost revenue. 3. Training and Investment in People Drives Revenue: Laudati strongly advocates investing in employee training alongside technology. She’s seen clients who paired software adoption with robust training, and realized up to 25% growth year-over-year. She's a believer in hands-on onboarding, coaching, and ensuring team members are held accountable—not just to sales, but to ongoing member engagement. 4. Retention is as Critical as Acquisition: Both Mary and Pete stressed the importance of looking beyond just new member acquisition to also address attrition. Laudati recommends clubs track net growth (sales minus cancels), invest in the early months of a member's journey, proactively reach out to disengaged members, and create meaningful connections (a la “Cheers,” where everyone knows your name!) 5. Shared Memberships and Ongoing Engagement are Winning Strategies: Highlighting clients like Bay Clubs, Laudati also talked about the explosion of shared or referral-based memberships and how they can create instant community and value. She noted the value of actively integrating new members into programs or group activities (think personal training, group ex, or even pickleball) during the crucial first three months to help maximize retention. Resources: Mary Laudati: https://www.linkedin.com/in/mary-laudati-89206232Mary Laudati Sales Consulting: https://www.marylaudati.com HALO Talks 2 Minute Financial Drills (Videos): https://bit.ly/2minutedrills Prospect Wizard: https://www.theprospectwizard.com Promotion Vault: http://www.promotionvault.comHigherDose: http://www.higherdose.com
    続きを読む 一部表示
    30 分
  • HALO Academy 2 Minute Financial Drill: Asset Purchase Agreement

    HALO Academy 2 Minute Financial Drill: Asset Purchase Agreement
    2025/07/10

    Every Wednesday we release our all new “HALO Academy: 2 Minute Financial Drill" by Integrity Square Founder & HALO Talks host, Pete Moore on everything you need to know for financial literacy, unit economics, legal documents used for M&A and capital raises, capital sources you can access, understanding how financings are structured, valuation metrics and parameters, and what you need to know about your own business before engaging in cap raises and/or a potential sale.

    If you missed our email about this, you can re-read it here: https://mailchi.mp/9567da51c0ce/2025programschedule
    ======================================================
    RESOURCES

    • https://www.integritysq.com
    • https://www.halotalks.com
    • https://www.thehaloacademy.com
    • Watch the video here: https://www.youtube.com/@halotalks

    ===================================================

    ABOUT YOUR INSTRUCTOR

    Pete is the Founder, Managing Partner and Chief Dream Architect at Integrity Square ("ISQ"), a leading boutique financial advisory firm focused on the $4.7T Health, Active Lifestyle, Outdoor ("HALO") sector. Since founding ISQ in 2010, the firm has played an active advisory role in 100+ mergers & acquisitions, private placements and advisory assignments across North America.

    Pete Moore and his team have also invested in passionate entrepreneurs at HigherDOSE, XTEND, and Promotion Vault. ISQ's media and "live education" properties include HALO Talks, the leading B2B podcast in the sector, Time To Win Again, and the HALO Academy, an Executive Education Bootcamp Series.

    Prior to ISQ, Pete was Head of the Active Lifestyle & Wellness Group at Sagent Advisors (2003-2010.) Prior to 2003, Pete was co-founder of FitnessInsite, a SasS sales management platform with 1500+ clients (based in AZ.) At FitnessInsite, Pete invested his personal capital, leveraged his credit cards and learned what it takes to manage a startup.

    Pete built his business and financial acumen on top of the foundation laid at three critical positions early in his career: Senior Associate at Brockway Moran & Partners, the private equity owner of Gold’s Gym International, Inc; worked as an Associate at Donaldson, Lufkin & Jenrette; and an Analyst at Chase Securities. (Now JP Morgan.)

    ISQ saw a need for a deeper & more useful level of education in the HALO sector. In response, we launched the HALO Talks podcast, with 500+ completed interviews and over 120,000 downloads. HALO Talks has become a “must listen” for anyone working or investing in the sector.

    Pete graduated from Emory University (BBA, 1994) and received his MBA from Harvard Business School (1999.) While at HBS, he co-founded IRON PLANET, the leading B2B auction site for used heavy equipment, which was sold to Ritchie Bros for $758 million. His hobbies include: Football, basketball, tennis, podcasting, amateur ventriloquism, pro bono DJ and fitness enthusiast.
    続きを読む 一部表示
    2 分
  • Episode #557: From Taekwondo to Tech-Marco Benitez on Building Rook and Connecting Fitness Data

    Episode #557: From Taekwondo to Tech-Marco Benitez on Building Rook and Connecting Fitness Data
    2025/07/08

    In today's episode, host Pete Moore sits down with Marco Benitez—a guest who brings together the worlds of Taekwondo and biomedical engineering! Marco is the founder of Rook, a "middleman" company specializing in connecting data from hundreds of wearables and medical devices. Drawing on his extensive background in sports and years in big pharma, Benitez discusses the challenges and opportunities in bridging data silos in the fitness, health, and insurance spaces.

    He also dives into the origins of Rook, the significance of B2B SaaS (Software as a Service) models, and the importance of building predictable, scalable solutions that empower organizations to actually use their data—not just collect it. Whether you're a fitness pro, entrepreneur, or just interested in the quickly evolving landscape of fit tech, this episode is packed with insights into how smart data integration is reshaping the way we approach the HALO space. (Health, Active Lifestyle, Outdoors)

    On working in the enterprise space Marco mentions, "Working with enterprise clients . . . takes a lot of time to close deals but once they are closed, you will receive a lot of feedback, and you will be in the heart of their company. Because we are an API solution, we live 'inside' the platform . . . inside the app."

    Key themes discussed

    • Importance and value of data integration.
    • Rook’s middleware solution for wearables.
    • Challenges of connecting multiple wearable devices’ data.
    • Building and scaling a B2B SaaS company.
    • Lessons from sports and long-term business growth.
    • The evolving role of data in healthcare and insurance.
    • Differentiating real, actionable intelligence from the AI hype.

    A few key takeaways:

    1. Rook Connects Wearable Data Seamlessly: Rook acts as a middleware platform that allows companies to easily integrate and extract data from over 300 different wearables and medical devices. This solves a huge pain point for fitness apps, gyms, digital health, and insurance companies that need unified, standardized, and actionable user health data without having to build separate integrations for each device.

    2. B2B SaaS with Active User Pricing: Rook is a B2B SaaS company, charging clients (gyms, fitness apps, insurers, etc) based on the number of active users accessing data through the platform. This recurring revenue model is 'sticky' and predictable, making it attractive for both business growth and investors, since switching out such a middleware solution tends to be costly and pretty disruptive for clients.

    3. Wearables Becoming Medical Devices: The wearables ecosystem is quickly evolving, with many devices attaining FDA clearance. This means the data they provide is now medically credible and increasingly important for areas like digital health, fitness, and prevention-oriented insurance models—creating new demand for integration platforms.

    4. Long-Term Perspective: Building to Become a Data Science Company: Benitez emphasizes the value of the long game—he compares entrepreneurship to earning a taekwondo black belt. Rook’s long-term vision is to move beyond just delivering clean, structured data to offering actionable intelligence, insights, and predictive analytics to their clients.

    5. Flexibility Driven by Customer Need: A key lesson? Rook’s roadmap for integrating new wearables is customer-focused. Rather than chasing each new device that comes out, the team prioritizes devices with the most client demand and market share. This way, they deliver real value where it matters most, instead of losing focus.

    Resources:

    • Marco Benitez: https://www.linkedin.com/in/marcobzg
    • Rook: https://www.tryrook.io
    • HALO Talks 2 Minute Financial Drills (Videos): https://bit.ly/2minutedrills
    • Prospect Wizard: https://www.theprospectwizard.com
    • Promotion Vault: http://www.promotionvault.com
    • HigherDose: http://www.higherdose.com
    続きを読む 一部表示
    26 分
  • HALO Academy 2 Minute Financial Drill: Exclusivity Period

    HALO Academy 2 Minute Financial Drill: Exclusivity Period
    2025/07/02

    Every Wednesday we release our all new “HALO Academy: 2 Minute Financial Drill" by Integrity Square Founder & HALO Talks host, Pete Moore on everything you need to know for financial literacy, unit economics, legal documents used for M&A and capital raises, capital sources you can access, understanding how financings are structured, valuation metrics and parameters, and what you need to know about your own business before engaging in cap raises and/or a potential sale. If you missed our email about this, you can re-read it here:

    ====================================================== RESOURCES

    • https://www.integritysq.com
    • https://www.halotalks.com
    • https://www.thehaloacademy.com
    • Watch the video here: https://www.youtube.com/@halotalks

    ======================================================

    ABOUT YOUR INSTRUCTOR

    Pete is the Founder, Managing Partner and Chief Dream Architect at Integrity Square ("ISQ"), a leading boutique financial advisory firm focused on the $4.7T Health, Active Lifestyle, Outdoor ("HALO") sector. Since founding ISQ in 2010, the firm has played an active advisory role in 100+ mergers & acquisitions, private placements and advisory assignments across North America.

    Pete Moore and his team have also invested in passionate entrepreneurs at HigherDOSE, XTEND, and Promotion Vault. ISQ's media and "live education" properties include HALO Talks, the leading B2B podcast in the sector, Time To Win Again, and the HALO Academy, an Executive Education Bootcamp Series.

    Prior to ISQ, Pete was Head of the Active Lifestyle & Wellness Group at Sagent Advisors (2003-2010.) Prior to 2003, Pete was co-founder of FitnessInsite, a SasS sales management platform with 1500+ clients (based in AZ.) At FitnessInsite, Pete invested his personal capital, leveraged his credit cards and learned what it takes to manage a startup.

    Pete built his business and financial acumen on top of the foundation laid at three critical positions early in his career: Senior Associate at Brockway Moran & Partners, the private equity owner of Gold’s Gym International, Inc; worked as an Associate at Donaldson, Lufkin & Jenrette; and an Analyst at Chase Securities. (Now JP Morgan.)

    ISQ saw a need for a deeper & more useful level of education in the HALO sector. In response, we launched the HALO Talks podcast, with 500+ completed interviews and over 120,000 downloads. HALO Talks has become a “must listen” for anyone working or investing in the sector.

    Pete graduated from Emory University (BBA, 1994) and received his MBA from Harvard Business School (1999.) While at HBS, he co-founded IRON PLANET, the leading B2B auction site for used heavy equipment, which was sold to Ritchie Bros for $758 million. His hobbies include: Football, basketball, tennis, podcasting, amateur ventriloquism, pro bono DJ and fitness enthusiast.
    続きを読む 一部表示
    2 分