Another Entrepreneurial Journey: Meet Mike Beaty

I’m Sara Waskow, FranNet’s Market President for Dallas-Fort Worth and Oklahoma.

I’d like so that you can meet a former shopper of mine, Mike Beaty. Again in Feb. 2019, he and his spouse Religion bought a franchise, Workout Anytime in Lake Worth, for his or her grown sons to function. After shifting to the Dallas-Fort Value space 15 years in the past from Houston, they’ve settled within the Metroplex and created a legacy enterprise for his or her household. The day-to-day operation is run by their two sons, with Mike and Religion overseeing their efforts in an advisory function.

With the help of FranNet of Dallas-Fort Worth and Oklahoma, Mike Beaty and his spouse, Religion,  turned the proud house owners of a Exercise Anytime Health Fitness center. Seems, it was the proper alternative to arrange their kids in enterprise, offering a approach for the household to retain their shut and significant ties to 1 one other. Under, in his personal phrases, Mike describes his entrepreneurial journey with FranNet…

Our Background

“My spouse and I are each veterans of the healthcare trade, with a majority of time spent in acute, post-acute, hospice and residential healthcare environments. We’ve spent about 4 a long time in all in our company jobs and we’re nonetheless going sturdy. We’re fortunately married, with three kids and now have 4 grandchildren to spoil.”

On Household Entrepreneurship

“We now have an fascinating little annual analysis we love to do annually between Christmas and the New 12 months. We sort of critique the issues we’re pleased with and it’s a possibility to overtly share our hopes and desires for the approaching yr. It was about 5 years in the past after we started discussing the potential of buying a small enterprise for our grown sons to personal and function. What was most essential to this new plan was for us to determine a household legacy alternative that our children might handle—and presumably sooner or later have their youngsters personal and function.”

Why Franchising?

“I feel franchising was the suitable route for us to take, as we didn’t have the time, assets, or the capabilities to exit and begin every part from scratch. Fortunately, a superb good friend launched us to Sara Waskow at FranNet, who turned out to be the suitable particular person and the suitable time to debate the kind of small enterprise that may be an ideal match for our household. We participated within the Entrepreneur Readiness Profile and thus started our analysis course of.”

How FranNet Helped

“Sara wasn’t only a information however turned extra of a real good friend to us through the course of. There have been by no means any preconceived notions in regards to the course we should always take when it got here to creating choices. She merely listened, then informed us the reality about which alternatives finest matched up with our household’s said objectives on proudly owning a enterprise of our personal. Although Sara introduced a number of franchise ideas, my spouse and I zeroed in on the health alternative due to our collegiate athletic experiences. Exercise Anytime had a number of elements that helped persuade us it was the suitable alternative. Our two boys might run the franchise as basic managers, it was a boutique-style idea, and it didn’t have a corporate-run really feel to it. Above all, we wished a spot the place you actually might get to know every certainly one of our members. Sara was a useful a part of the journey—even connecting us with a CPA to evaluate the financials.”

The place Do the Enterprise Stand?

“After about 60 web site picks to get the suitable location, we opened the household’s Exercise Anytime fitness center in Lake Value in Feb. 2019. With our grown sons working the franchise like a health membership, we met all of our first-year objectives they usually acquired to know the entire fitness center members on a first-name foundation. Our membership buyer satisfaction surveys have been off-the-chart constructive. Like everybody else, when Covid hit, there was a pause and actual motive for concern. However as a household, we didn’t panic. All the lessons the fitness center supplied immediately turned Zoom teams and our sons and health leaders continued teaching remotely. They even established an ‘gear library’, the place members might meet at a pre-determined time to take a look at what they wanted to proceed their exercises at residence. These efforts to regulate to the scenario allowed the fitness center to keep up its members and our Lake Value location lately scored the best within the nation for our retention charge. That led to certainly one of our proudest household moments, as our sons have been introduced with the Exercise Anytime Coronary heart and Soul Award for this achievement.

On the finish of the day, our boys have lived as much as the model’s worth proposition—which is an easy repetitive query they ask themselves as Exercise Anytime house owners: ‘Right this moment, did you select to make every member’s hour the perfect hour of their day?’ Though it’s a rhetorical query, our household has realized that the reply to that query will be discovered within the success of the enterprise.”

For extra info, please go to the Beaty Household’s Workout Anytime location on the web.

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