Some group dream of being an entrepreneur. Others really go one. So what separates the two? "The quality is the level of self-discipline and commitment," says Stephen Smith, a erstwhile champion bodybuilder and serial entrepreneur. "That's what it takes."
Smith has both, and he's needed it. His first franchise was a tanning salon called Planet Beach, and he grew it to hundreds of locations — until the foundations of the business changed, and he couldn't recover. (More connected that below!) But alternatively of quitting, he channeled those lessons into a caller franchise: It's called Hotworx, a fast-growing fittingness marque that now has much than 730 locations successful the U.S., Ireland, and the Middle East.
Hotworx combines 2 basking activities: sauna and fittingness classes. Users take betwixt 30-minute isometric sessions and 15-minute high-intensity interval training (HIIT) workouts, some conducted successful specially designed infrared saunas. The thought is to beforehand detoxification and accelerated calorie burn, while building musculus and flexibility.
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Here, Smith talks astir coming backmost from crises and really to make the astir of a large idea.
What happened pinch your first franchise?
Planet Beach grew to astir 400 locations astir 2007, astatine its peak. Then the financial situation happened successful 2008 and started the diminution of the manufacture and the brand. In 2010, a national excise taxation was passed by Congress connected tanning. Ten percent of each indoor tanning services had to salary into that, and still person to. So that put the nail successful the coffin.
How did you move forward?
That sent maine into the Dark Ages of my profession arsenic an entrepreneur. Then, successful 2014, I started doing Bikram yoga. I was traveling, and an workout physiologist friend suggested doing yoga successful a sauna. It was the proverbial light-bulb infinitesimal for me
How quickly did you commencement moving connected your thought for Hotworx?
I went correct backmost to New Orleans and started moving connected a design. We spent astir 10 months getting a prototype to marketplace and person not changed the dimensions aliases basal creation since. When you recognize an opportunity arsenic an entrepreneur, you do what it takes to get spectacular results.
What is the biggest situation successful scaling Hotworx?
It's activity astatine the portion level — uncovering the correct location managers. The past 2 aliases 3 years person been reliable to recruit talent. They don't person to beryllium an all-star gymnast aliases erstwhile NFL player, but they request the diversion mentality, an cognition of being quiet to succeed. One of my favourite questions to inquire candidates is to complaint their activity ethic connected a standard of 1 to 10. If they don't say, "I'm a 10," it's a no.
What's a instruction you learned that different entrepreneurs looking to innovate should know?
You're not going to person everything perfect, but don't launch unless you consciousness for illustration your merchandise is stellar. Think difficult successful the beginning, because it each starts pinch the product. You don't person thing if you don't person a bully product.
What do you request to beryllium successful successful franchising?
Having passion is not enough. You request the self-discipline to spell retired and execute. You study from athletics what it takes to win; a batch of it boils down to that discipline. You mightiness person a awesome group arsenic a team, but if you can't beryllium coached to person the discipline, you're not going to succeed.
What do you spot arsenic the biggest situation to the fittingness manufacture successful 2025?
Overzealous description , premature IPOs, and the continued deficiency of attraction paid by franchisors to the profitability of their franchisees. There's smart, scaled growth, arsenic opposed to conscionable going each retired and suddenly, astatine the extremity of the year, you've sewage 100 much franchises — but 50 [of those] group shouldn't moreover beryllium franchisees.
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