Finding the perfect location
Once a potential franchisee has signed their franchise agreement and is an official part of our family, the journey really begins. As franchisors, we provide our franchisees with the best platforms available to set their store up to perform and achieve great results, fast. At TRIB3, it is all about partnership and we want to offer our full support and the best tools to our franchisees so they are able to open their store confidently, in the right location with the right demographic.
Right now is the best time to secure your dream TRIB3, but we always go above and beyond to ensure we are finding the best locations available. Although the decision ultimately lies with the franchisee as this is their store, we always provide clear guidance, full support and robust analysis to inform this key decision. Our partners also have the flexibility to decide how involved they want to be in their store although we strongly recommend our franchisees are as involved as they can be, especially within the first six months, as there is also a learning curve with any new venture. The more present and hands-on they are with the daily operations the clearer the opportunities are for their store to run smoothly and move quickly through to maturity.
We have franchisees who are store managers, running the daily operations of the store in addition to teaching classes, such as our franchise partners at TRIB3 Goya. But given TRIB3´s unique business model, the franchisees can also manage their site relatively remotely by onboarding an exceptional store manager, with our full support and guidance on how to pick the right employees for the job, and then visit the store several times a week instead of being there daily. Being present is key to motivating the onsite teams and driving early performance.
Once we understand the franchisee´s planned level of involvement and depending on how far they are willing to travel to their store, whether it is daily or weekly travel, we are able to define the catchment area. Our team will support the whole property process looking at our existing customer data points and perform a demographic analysis on several potential locations to make sure the property is in the right location for our target audience. We analyze numerous factors when looking at available property opportunities, as it's not only about the location for us.
Also the size of the property and the demographics influences which type of TRIB3 store will be opened. Although the signature TRIB3 workout studio offers the same workout experience wherever the store is located, our smaller store specification is often well suited to highly residential areas where people are generally ‘in and out’ for their workout experience, whereas in properties with more square footage in high footfall, high street areas - locations where TRIB3Rs will come to socialise and unwind as well as workout - are perfect for our larger specification.
Once we’ve performed a thorough analysis that scores various factors, with benchmarks against our top performing stores, we are ready to make offers on properties. We do the exact same process when selecting our corporate store locations so we know the process works.
The TRIB3 franchise journey is a partnership throughout, from the first enquiry to opening one of our next-level stores and beyond. All the way through, the TRIB3 team will be hands-on offering the necessary support, guidance and tools. With every new partner that joins the TRIB3 family, it remains such an exciting milestone in the process for us to find the perfect location, each and every time.
Are you ready to start your own TRIB3? Come join us.