Friday, June 28, 2013

Workout Anytime Featured in Franchise Times

Workout Anytime was recently featured in the Franchise Timesin an article titled, "Nest Eggs: Done right, a rollover of retirement funds can be smart option".

The article is a trend piece on franchisees using their 401(k) to purchase their business. John Heifner, Workout Anytime franchisee, gives great insight into how he went about purchasing his Workout Anytime with the use of his 401(k). He went on to say “Starting our third year, I can start thinking about funding a retirement again instead of keeping my money more fluid for cash flow.”

Click HERE for the full article or begin reading below:

Nest Eggs

Done right, a rollover of retirement funds can be smart option

By: Jeffrey McKinney

More franchisees are using their 401(k) retirement funds to finance the purchase of a franchise. Who should consider the move? Experts explain the do’s and don’ts, including warnings about strict IRS rules.

Jeremy Turner’s decision to pretty much tap out his retirement funds to buy a Lawn Doctor franchise was very clear: He calls it the best option he had after banks would not lend him the money.
Turner withdrew $70,000 from his 401(k) plan and another $30,000 he and his wife had in savings to start the lawn care business in St. Louis in 2010. Turner says he discovered companies charge around $5,000 to help complete the financing process. “I would not suggest that someone try to do this on their own because of tax and other risks involved,” he says.

Friday, June 21, 2013

New Location in Lexington Opens

Workout Anytime's new location in Lexington had their soft opening on Monday, June 17. They're currently offering half-off enrollment until the end of June. The gym features brand new state of the art Matrix equipment, new tanning beds and hydro-massage. Members will be able to add unlimited tanning and hydro-massage for only $10/mo.

The location will also host the Lexington Humane Society this Saturday, June 22, from 10 a.m. until 2 p.m. The Humane Society will have animals up for adoption and talk to visitors about the process of adopting a pet as well as taking donations.

Friday, June 14, 2013

Franchisee Spotlight: Eric and Jen Cowden

Eric Cowden, a Lexington native, graduated from Western Kentucky University in 1996 and started working in sales and marketing for a communications company that does voiceover IT, networking systems and internet protocol. Following, Eric worked for the local FOX network in Lexington and then started a bar/restaurant in 2001. Eventually selling the location, Eric went back into sales and marketing, which he has been doing since 2002.

Jen Cowden graduated in 2002 from the University of Akron and grew up in Cuyahoga Falls, Ohio. Jen’s professional background is also in marketing and she worked for the same organization Eric worked for in the local Ohio branch for nearly 10 years. In the last two years, Jen moved to Lexington to continue her career, helping to plan the first steps in the Workout Anytime business.

 Eric, 40 years old, and Jen 33, are married and continue to work full-time. They will operate the Workout Anytime location concurrent with their other positions. They also both have extensive family-run business experience, which will be valuable for the Workout Anytime operation and get them ready for the next phase of their career.

How did you learn about the brand?
Greg Parker, he’s the area developer for Workout Anytime and also a frat partner. I saw the success he was having and it seemed to fit because of my interest in health and fitness, and all of the healthful changes in society going on.

Why did you choose an opportunity with Workout Anytime?
The equipment is state-of-the-art and we felt Lexington could use some place such as this, emphasizing customer service, bargainfitness, no contracts, etc. It’s also a town people travel to frequently for business and this gives them a chance to take in a quick, affordable workout.

Are you involved with any charities or do any community outreach with your business?
We work with the Makenna Foundation, which is a local charity that supports the UK Children’s Hospital.

What challenges have you overcome to get where you are now?
It’s really been finding the proper location because without that, the business model doesn't work. With 150,000-plus households in a 3.5 mile radius, we wanted to make sure we found the perfect spot because we do think we offer a unique spin to the workout community of Lexington.

What are your expansion or development plans? What is your end goal with Workout Anytime?
We want to have short-term goals and within a year add a second location, a third within two years, and start branching out into several areas.

Do you have any other interesting hobbies or passions?

We’re both involved in fitness and enjoy any outdoors activities or sports, such as golf and basketball.

Friday, June 7, 2013

Franchisee Spotlight: Paul Jackson and Randy Clevenger

Paul Jackson and his wife Lynn were members of the Workout Anytime club for four years. So when the club closed for financial reasons, as good stewards of a local business and because of their love of the concept, the couple saw the potential in keeping it open and decided to explore the option of making it their own.  The Jacksons were able to do so, and after two months, they took the club out of bankruptcy in April 2010. Three years later, their experience with Workout Anytime has them slated for a second location to open in August in Alpharetta, GA. Paul, who is a commercial airline pilot, will maintain that profession while helping operate the clubs.

Randy Clevenger, who had been a member of Paul’s club, had no background in fitness prior to his plans of partnering with the Jacksons for the second Workout Anytime location, but saw the business’s potential.  Having owned several other businesses over the past 21 years, Randy believes the fitness industry, and Workout Anytime in particular, represent one of the best franchise opportunities you’ll find.  Unlike other industries, the Fitness industry is still in a growth phase and WOAT has found a distinctive niche within the industry.  The business model is sound & the corporate support is outstanding.  It’s a great brand, and we just felt the concept was a winner.  With our experience & background running other small businesses, we believe we can grow our organization quickly to a multi-unit, multi-state operation.

Randy’s experience in all facets of starting a business from scratch & growing it into a multi-million dollar organization, uniquely qualifies him as a WOAT owner / operator.  Combined with Paul’s acute business acumen, in tandem with their drive and passion for the project, all positioned the pair to run a well-organized business. Their experience in running tight financials, marketing and customer relations will certainly help take their vision for the brand to growth.  WOAT is a concept that you can really get excited about.  I feel passionate about the brand, the opportunity and what this business is all about.

How did you learn about the brand?
We were originally looking for an economical club without a contract. So, we went online to explore the possibilities of joining the organization.

Why did you choose an opportunity with Workout Anytime?
I thought the business model is superior to all the other business models in the industry.

Randy: I almost pulled the trigger with a fitness competitor about 18 months ago, but backed off because I didn't feel they had the level of passion and interest in developing a relationship with me. I also liked the idea of being part of a franchise for help with growing not only in our area, but into other territories. After doing more research, I was determined that these guys “get it,” and it feels right.  

Are you involved with any charities or do any community outreach with your business?
We work with the Fraternal Order of Police, area schools and No Longer Bound, which is a men’s substance abuse recovery program. We support largely through monetary donations.

What challenges have you overcome to get where you are now?
When the first club originally closed, we inherited 1,100 potentially unhappy members because they either had no place to work out or had seemingly lost money. Lynn and I made calls to everyone and decided to honor all full memberships to gain the trust of these folks.

Also, the new location in August will be completely different. The original was a salvaged location so we are getting into something brand new.

Do you have any superstar employees? What is their story?
Chris Maier is our lead marketing professional, beginning with us last year as a member of the club. Chris quickly became the manager of the club and has done a great job. He’s very business savvy and is the face of our business.

The way we’re set up is Lynn and Chris manage for much of the time to account for my pilot position, so I’ll do whatever I can when I’m here. Lynn is managing partner and Chris is the store manager.

What are your expansion or development plans? What is your end goal with Workout Anytime?
Randy and I would like to open 10 total in the next several years and three more within the next three years. We are currently looking at Flowery Branch and Dawsonville as next locations.

Do you have any other interesting hobbies or passions?

We like going to church and fishing when we can.