Franchise Growth & Innovation: LIVE From Beyond Activ With Bryan O'Rourke
This week, on the Fitness + Technology podcast, Bryan O’Rourke shares his presentation live from Beyond Activ in New York. Beyond Activ is a leadership, investment, and business development event for owners, managers, and investors of health, wellness, fitness, and hospitality brands. Bryan was invited to present and host a panel on franchise innovation and growth with Emily Seaman, Head of Marketing from Momence, Bradford Smith, Chief Development Officer from PureGym, Eric Keller, VP of Support at Self Esteem Brands, and Justin Vartanian, Senior VP of International Division at Planet Fitness. You can access Bryan's presentation deck here: https://drive.google.com/file/d/1vSI72UFIcTKyT8G7yZ8jskOJaEknXvc6/view Recap of presentation is as follows: Key Drivers of Future Growth and Innovation (GII): Globalism, Demographics, Values, Technologies, and Economics are identified as the five mega-trend drivers of GII. Customer Spending and Attitudes: Younger generations (Gen Z and Millennials) are spending more on health and wellness than older generations. U.S. consumers consider going to the gym a core part of their fitness routine. Five Trends Impacting Businesses: Declining customer satisfaction due to cuts in customer service. Generative AI is shifting the internet experience from transactional to personal. Lack of differentiation and creativity in app and brand design. People feel overwhelmed by technology and desire more control and human connection. Traditional life paths and values are shifting, leading to uncertainty and a search for trust. 2024 Edelman Trust Barometer: Innovation and technology offer promise but also risk exacerbating trust issues and societal instability. CEOs are expected to address societal changes and lead on issues like job skills, technology ethics, and automation. Franchising and Competition: The International Franchise Association (IFA) tracks 9,000 brands in the U.S. alone, indicating high competition. There's also increasing cross-border competition for brands globally. Key Opportunities for Businesses: Prioritize the customer experience and personalization at scale. Differentiate through authentic branding and humanized technology. Embrace long-term thinking, adaptability, and a focus on human values and trust. CEOs should address societal impacts of innovation and lead on key issues. Overall, the presentation emphasizes the need for businesses to adapt to evolving consumer trends, technological advancements, and societal changes to drive future growth and innovation. please send podcast link asap ty One Powerful Quote: 9:45: “What this leads to inevitably for all firms and franchising is the balancing of humanizing their brands while futurizing their organizations.” 4-10 Bullet Points (w/ timestamps) - Highlighting key topics discussed: 2:42: Bryan kicks off his presentation with the five leading trends influencing the industry. 12:04: Bryan asks the panel regarding growth strategy for franchising. 16:14: Bryan asks the panel about growth focus by geography, demographics, franchisees, or mergers/acquisitions. 19:35: Bryan asks the panel about leveraging technology to enhance franchise operations. 27:00: Bryan asks the panel about the challenge in executing innovation. 28:33: Bryan asks the panel about brand consistency and localization challenges for international brands. 32:59: Bryan asks the panel about low performing franchisees. 38:15: Bryan asks the panel about franchise saturation in the marketplace. 42:36: Bryan asks the panel about their personal slogans to business and life. 44:31: Bryan and the panel answer questions from the audience. Bullet List of Resources: https://beyondactiv.com https://momence.com/ https://www.puregym.com/ https://www.sebrands.com/ https://www.planetfitness.com/ Guest Contact Information: https://www.linkedin.com/in/emily-seaman/ https://www.linkedin.com/in/bradfordsmithfranchis
