How did you get into the industry?
SR: The practice of yoga completely transforms me & how I live my life & I felt strongly I wanted to share this empowering practice with other people. At the time & for many years, I worked on air in broadcasting. Before that, I also created a small gift products company & grew our line to be in more than 400 stores. I loved both careers. However, nothing was & is as exciting for me as this journey I am now on & I feel this way pretty much every day. My small town in North Carolina didn’t have a heated power yoga studio & I knew in my heart that stressed out moms & dads, college students & other people would love it, just like I did, because we all need it. Creating FBY is the best decision I have ever made for myself.
What’s New in the Business or in the Franchise Model?
TC: We have our own niche and are unlike other yoga studios. We are a boutique studio that feels with that sophistication and support of a large chain. We support our franchisees with word-of-mouth, geo-targeted social, and national/local TV commercials.
Where do you See Opportunities or Challenges for the Franchise/Business Moving Forward?
TC: In these interesting times, more and more people are turning to yoga, not only for the workout, but for the mental and emotional benefits. During the 2020 Corona episode, we were one of the first studios to offer both live and recorded online classes. In fact, we doubled down and ran TV commercials to drive awareness and traffic. While there’s never any guarantees, unlike so many other franchises, we proved that not only did we weather the storm, we came out stronger.
What is your Goal for the Business Moving Forward?
TC: Our goal is to find 50-100 of likeminded owner-operators who want to share FBY YOGA – and be their own boss!
Talk to us About Training and Support, How Do You Deliver?
TC: We offer franchisee training and support through our written operations manuals, in-studio training, and Teacher Training certification classes. We want you to be successful so then we’re successful. You’re the face of the brand so we want you to be confident as a franchisee.
Your most difficult moment at the Franchise Business?
SR: The set up. It really forces you to focus on what you want to replicate and how best to accomplish that. Trying to deliver the FBY experience with consistency in multiple locations is important to us.
How is your Franchise Model Structured?
A. Training and Support Model?
TC: We offer franchisee training and support through our written operations manuals, in-studio training, and Teacher Training certification classes. We also support our franchisees with unparalleled year-round marketing activities via social media and TV.
B. What is the Fee Structure?
TC: The franchise fee is $40,000 and the royalty is 6% of Gross Sales. We also require that the franchisee maintain a local advertising expenditure of 5% of Gross Sales.
C. Territory Definition?
TC: We currently offer territory selection for specific zip codes. We want quality so pitting franchisees against each other in a small territory is not part of our business plan.
D. Day in the life of a Franchisee?
SR: Wake up. Generate gratitude that you get to live this life! Communicate with your team via Slack or in person re what’s going right. Show up at the studio and make FBY-ers feel welcome and your team feel appreciated. Do the work yourself every day that helps you be the best you, yoga, meditation, connection with people you love, etc. Share yoga if you are teaching that day. Come from a place of curiosity and a commitment to growth AND ease. Be willing to do everything in the day to day operations that you ask your team to do. Ask for honest feedback often and choose to let it be a source of growth for yourself and the studio.
What does Your Franchisee Do in the Business Every Day?
SR: More than anything, our franchisee needs to love yoga, love to share yoga and is a huge YES for building community. This feeling of true connection is the reason for our success. On a daily basis, that means doing the day to day work AND being curious, creative and being an active figure-outer in how to connect even more the community. We collaborate with our franchisees on many levels, including retreats, training, and seasonal promotions. It’s important to be lockstep with our franchise partners
Who is the Ideal Franchise Candidate?
TC: The ideal candidate LOVES yoga and wants to be VERY involved with the day-to-day operations of the studio. If yoga isn’t your passion, this probably isn’t for you. FBY-ers look for a warm greeting and an environment that is far more than a place that offers “a good workout”. We need franchisees who want to build community. If you can build a community (through sharing and caring), the business part will fall into place. The ideal candidate has some basic business acumen and can effectively manage a team of instructors.
For more information on the FBY Yoga Franchise, visit the corporate site: www.fbyyoga.com