In this episode, Joe Steele interviews Rick Mayo on his journey from a personal trainer to a successful entrepreneur.He takes us through the evolution of the personal training industry, the challenges of entrepreneurship, and the strategic decisions behind expanding Alloy into a franchise.In the early 1990s, personal training was not common at all. In fact, most people had not heard about it. Rick had to educate clients about its benefits.Rick’s business continued to grow and eventually transitioned from one-on-one personal training sessions to small group training. This was the key moment because he could now scale and also offer a better experience to clients.Fast forward to today, Alloy is a fast-growing franchise with numerous locations opening up. The journey to this point has been challenging but rewarding and Rick reveals it all in this episode.Tune in to learn of the strategic moves that led to the growth of Alloy and the lessons entrepreneurs can pick from them.Key TakeawaysIntro (00:00)Concept of personal training in the early 90s (02:15)Managing financial and psychological aspects of starting a business (05:50)Building a team and initial business operations (10:26)Balancing growth, time management, and financial goals (14:44)Evolution of marketing strategies over the years (19:50)Handling competition and staying ahead with innovation (24:17)Establishing and maintaining the target customer avatar (32:28)The decision to franchise and its implications (39:24)Impact of the COVID-19 pandemic on the business (47:10)Lessons learned and future goals for Alloy (52:32)Additional Resources- Alloy Personal Training- Learn About The Alloy Franchise Opportunity---------You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.If you haven’t already, please rate and review the podcast on Apple Podcasts!