David Weaving became a multi-unit StretchLab franchisee after serving as chief administrative officer for what’s now Anywhere
Real Estate.
When David Weaving wanted to start his own business, he established a list of non-negotiables. The product his new company offered couldn’t be delivered by Amazon or outsourced, and it had to be a service “where the need is there and doesn’t require needing to create the need.”
He also wanted an endeavor where he could devote his time to growing his business, as opposed to working in his business. And, lastly, he didn’t want to have to invest “a ridiculous amount of money” right out of the gate.
“I looked at a number of concepts—blow dry bars, dry cleaners, portable storage, weight loss centers—and then someone mentioned this thing called StretchLab. The more I learned about it, the more I knew this was the right fit for me. It literally checked off all my boxes,” said Weaving, a multi-unit franchisee with StretchLab studios in Livingston, Morristown, Summit and Westfield, New Jersey, the latter of which he opened in May.
It’s hardly a stretch to call Weaving an open book when it comes to sharing details about his businesses. He offered a unique perspective on franchising, having worked both sides of it, first as an executive with a major franchise brand and now as a multi-unit franchisee.
As the chief administration officer for Realogy from 2006 to 2015, Weaving was the company’s lead for business development and marketing with a $20 million revenue stream. His other responsibilities included guiding the brand’s HR, corporate real estate and facilities and IT efforts. The publicly owned company, which rebranded last year and now operates under the Anywhere Real Estate name, owns and franchises several large real estate brands, including Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, Corcora, ERA and Sotheby’s International Realty.
“After years of working the other side, I decided I had enough of that. I wanted more control. I wanted to own my business, and to be able to grow my own business within the franchise model,” said Weaving, adding, “and, sorry for the pun, StretchLab has given me the flexibility to do that.”
According to Verdine Baker, president of StretchLab, Weaving has consistently been in the top 30 percent of the system’s in-studio performance, hitting his target margins of between 25 and 35 percent for mature studios. “It’s helpful that Dave brings previous franchising experience, which is always valuable in a franchise system. He understands systems and processes that lead to success,” said Baker, whose franchisees pay between $162,575 to $333,875 to purchase and launch a single StretchLab location, according to the company’s franchise disclosure document.
Verdine Baker
With StretchLab, Weaving has piggybacked on success of the service-focused brand that has hit a number of significant milestones since launching its franchising system in 2017. Based in Irvine, California, and part of Xponential Fitness, the brand has posted steady growth and in June opened its 300th location. It reached No. 4 this year on the Franchise Times Fast & Serious list, a ranking of the smartest-growing concepts.
StretchLab offers customized stretch routines for people experiencing stiffness and soreness. It also works with athletes of all abilities to improve their performance. “We get people of all ages, as young as 13 to as old as 94, evenly split between females and males, and they come in for a variety of reasons. Long-distance runners use it as part of their training year round. Right now, in the summer, it’s a lot of golfers,” Weaving said.
Weaving was there from the start when he became StretchLab’s first franchisee after initially signing a three-unit deal in New Jersey in 2017 and opening his first location in Livingston in 2018. He has 35 employees, and said all of his flexologists have a degree or certificate in either physical therapy and training, yoga or even dance exercise. His four locations have an average of 250 and 330 clients on membership plans.
Weaving said he devotes the majority of his time to recruitment, finances and managing people. His staff focuses on customer service and lead generation with conversion of sales.
“What I’m looking for is to keep my attrition under 10 percent and have the first visit conversion over 35 percent,” Weaving said. “I’m proud to say that, for the most part, we are hitting our numbers, but it’s an ongoing battle. Being a franchisee is a lot of work but also very satisfying.”