Peak Physique Hot Yoga adopts flexible finance approach
Peak Physique Hot Yoga is on a roll. The yoga franchise kick-started 2020 with another six outlets set to join its 15-strong network by the end of June. And the franchisor is looking for yet more growth this year.
“We want people to realise their dream” says Peak Physique Hot Yoga co-founder Mike Calava.
And to that end the franchisor has refined processes and adopted a simple approach to helping would-be franchisees fund their way into business.
Calava explains. “We’re making it a bit easier for franchisees by taking a bit of the risk out. The investment is $30,000 but we’ve worked out a way to make it easier by spreading the cost,” he says.
The established yoga business has a real community feel and that’s why it is particularly keen on seeking enthusiastic franchisees in rural areas.
“There is a more community approach working really well in these areas. We can see a market, and the idea of community feel is what is driving it.”
Marketing strategy brings results
Peak Physique’s newly developed marketing strategy is seeing customers come flying through the door.
The marketing campaign for a new franchise begins with promoting pre-launch memberships so franchisees start out with a ready-made clientele.
“Both of our most recent sites have had over 100 new members sign up before opening their doors, which is a great starting platform for a new business,” explains Calava.
The all-important next step of a marketing campaign is handled by head office too. So franchisees don’t need to collect or analyse the results, this is all done by head office, which then offers advice about the right actions to take next.
And the approach is flexible. For instance, while social media is crucial to lead generation in regional areas the traditional method of letterbox flyers is proving invaluable.
“There’s flexibility in the method, with franchisees able to lean on the franchisor for a marketing strategy or take on the responsibility themselves.
“It’s what suits the franchisee best,” says Calava.