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Identifying and Infiltrating Gaps in the Market with Shred415 Co-Founders, Bonnie Micheli and Tracy Roemer

Bonnie Micheli and Tracy Roemer are the co-founders and owners of Shred415, a total body workout franchise system. Bonnie and Tracy met as young moms during a playdate in their Chicago neighborhood alley, the two began reminiscing on the past and their fitness hobbies. Frustrated between being a busy parent and the lack of sweat-worthy boutique fitness options that catered to their needs, the duo put together their 25 combined years of fitness experience and began mapping out a vision that combined all elements of a dynamic, effective workout that provided results.

 

Key Takeaways:

[0:22] Today’s episode of Franchise Euphoria is brought to you by The Franchise 5 package. Head over to franchiseeuphoria.com/franchise5 to learn more!

[1:01] Josh introduces today’s guests, Bonnie Micheli and Tracy Roemer, the cofounders of Shred415, a boutique fitness concept that has just started their franchising efforts.

[2:32] Josh welcomes Bonnie and Tracy to Franchise Euphoria.

[3:08] Tracy quickly recaps the story of how she met Tracy and what caused the two to bond.

[5:06] In 2010, Tracy and Bonnie recognized the lack of treadmill and strength studios in such a large metropolitan area in Chicago. Seeing their opportunity, they opened their first Shred415 location in 2011.

[8:12] Part of the design of their program is making sure everybody feels included and not intimidated by the atmosphere.

[10:47] Having a business partner that had the same vision as you for your dream really helped propel Shred415 to fruition.

[13:20] After seven years of business, Shred415 now has almost 20 locations, which is a fairly accelerated rate of growth for their industry.

[14:27] The second Shred415 location came about to be an overflow location for their main facility due to the fact that they were experiencing 100% sign up rates and an unimaginable wait list for their classes.

[18:35] Even though membership was few and far between in the beginning, they were still getting a lot of press in the early months, and as soon as people started seeing results, customers started showing up.

[21:09] Early on, Tracy and Bonnie weren’t sure how to go about bringing in employees to Shred415. They started with an ad on Craigslist, and although they only brought on one person from that ad, he is still with them today and just purchased three franchises from them.

[25:02] The toughest part about franchising their business was shifting their focus to dealing with corporate managers to franchisees, which requires a different level of attention since they are investing so much more in the business.

[28:56] Shred415 is open to opening locations all across the US with new locations coming in California, Denver, Memphis, and more.

[31:06] Thanks for listening, and please, reach out to Josh anytime through email at josh@franchiseeuphoria.com. If you enjoyed this interview, please leave us a review on iTunes.

 

Mentioned in This Episode:

josh@franchiseeuphoria.com

www.franchiseeuphoria.com

www.franchiseeuphoria.com/franchise5

http://www.shred415.com/

https://bonnieandtracy.com/

https://www.instagram.com/bonnieandtracy/

https://twitter.com/BonnieandTracy

Josh Brown

Josh Brown

Hi! I’m Josh Brown, franchise attorney and creator of the Franchise Euphoria podcast. I’m just your average guy who loves to golf, eat hibachi, and immerse myself in the ever-expanding franchise world.

My goal is to navigate entrepreneurs and all people interested in the current events of franchises through all the hottest topics and most popular tools for success. Going on four years now, Franchise Euphoria is hotter than ever and ready to help you plan and execute a pathway to success.

Josh Brown

Josh Brown

Hi! I’m Josh Brown, franchise attorney and creator of the Franchise Euphoria podcast. I’m just your average guy who loves to golf, eat hibachi, and immerse myself in the ever-expanding franchise world.

My goal is to navigate entrepreneurs and all people interested in the current events of franchises through all the hottest topics and most popular tools for success. Going on four years now, Franchise Euphoria is hotter than ever and ready to help you plan and execute a pathway to success.

pardee2003 from United States
11/16/2019
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Great and applicable information from professionals in the franchise world that are doing it every day. I’ve listened to 3 episodes: Gutter Brothers, Woofies, and Cycle Bar. Enjoyed all and looking forward to hearing more.
WTutor311 from United States
8/30/2019
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Highly recommend. Great guests. Filled with tons of helpful information.
Katie Joy B. from United States
7/16/2019
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Josh and his wide variety of knowledgeable guests are truly rockstars! They deliver quality (and free!) franchise knowledge and advice in each and every episode. The great advice they provide, combined with the engaging way they deliver it had me hooked from the very first listen. Thanks for putting out such a stellar show Josh - keep up the great work!
Jordan gross from United States
07/15/2019
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This podcast provides the advice necessary to start building, growing, and scaling your business TODAY! The host asks probing questions of his guests that add value to the listeners in an immediately implementable way!
VPugliese from United States
07/15/2019
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What do you get when you combine business savvy, legal expertice and a great personality? You get the ultimate podcast for franchise owners. Josh Brown brings it all togehter perfectly with Franchise Euphoria. Not only does he possess all of the skills and abiliites above, but he has great guests, asks awesome questions and created the ideal podcast for this niche. If you have a franchise, or are considering it, subscibe to this show and consume all of the content!
Mick James from United States
06/05/2019
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Started listening to Josh's podcast after the wife and I decided to buy a franchise and I quickly went through about 200 episodes on 1.5x & 2x, before signing on to purchase a franchise. Josh's info was an invaluable part of our decision to buy, and after listening to so many episodes, I felt like I knew and trusted him on a personal level, so it was a no-brainer to enlist his services when it came time to review the franchise agreement. Josh was super easy to talk to and very empathetic to our needs, and being first time business owners, we needed all the empathy we could get. Josh helped us negotiate a great deal with the franchisor and we were very happy with his services. Great podcast, great guy, great service to anyone involved in the franchise world!
Dean575 from United States
06/04/2019
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Very interesting discussion. I found the information valuable.
Summieysum from United States
05/06/2019
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I've just completed the legal process of franchising my business and have now begun selling franchises. Just found this podcast and it's an incredible resource! Great content and Josh is a very engaging host. Highly recommend for franchisors and franchisees.
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