Geoff Dyer discusses his extensive experience and success in the fitness industry through navigating risks and building relationships.
In this video Q&A Geoff Dyer, the principal of CR Fitness Holdings — a Crunch franchisee with 70 locations in the U.S. — discusses his extensive experience in the fitness industry, touching on the growth and development of his various ventures. Dyer shares his journey from founding Lifestyle Family Fitness, a company that grew to 56 clubs, to his involvement with Crunch Fitness, which has its sights set on 100 locations.
Key lessons Dyer emphasizes include the importance of maintaining control in business partnerships and the value of taking calculated risks. He recounts how an investor initially voted him out of his management position, which led him to eventually buy out the investor and grow Lifestyle Family Fitness. Dyer also highlights how knowing your business inside and out, including financials, operations and retention rates, is crucial to success.
After selling Lifestyle Family Fitness, Dyer joined forces with his business partners, former competitors, to expand the Crunch Fitness brand across several states. His key takeaway from this partnership was the value of respecting and knowing your competition, as building relationships can lead to future opportunities.
Dyer also reflects on how the fitness industry has changed over the years, particularly with a stronger focus on advocacy and positioning fitness as a necessity rather than a luxury. He encourages young entrepreneurs to avoid giving away equity too easily, and invest in industry events and associations like IHRSA, Club Solutions and REX. Overall, Dyer believes that scaling through multiple locations is key to long-term success.
