From struggling to justify the expense of two gym memberships, to attempting to revolutionize the fitness industry, Borislava Baeva's unexpected twist on a traditional model is changing the game. But what surprises lie ahead for this innovator and her growing platform? Changing the way "things have always been done" is--putting it mildly--a challenge for any entrepreneur.
Baeva is a finance expert turned fitness entrepreneur and the creator of MyStrongCircle. As a former Director of Financial Planning at Life Fitness, Borislava knows the in's and out's of the HALO (Health, Active Lifestyle, Outdoor) sector. Her love for yoga and cycling, along with her frustration over juggling multiple memberships, inspired her to create MyStrongCircle – a platform that allows users to bundle their favorite fitness studio memberships for a more personalized experience. Borislava is passionate about making fitness and wellness accessible to everyone, and she's driven to expand MyStrongCircle into major markets across the US and beyond.
Like most (good!) business ideas, MyStrongCircle came from a place of solving a personal frustration. With a passion for yoga and an increasing interest in cycling, she struggled to justify the expense of maintaining two separate gym memberships. Drawing inspiration from the airline industry, Borislava developed a model that allowed individuals to bundle their favorite fitness studios into a single membership, promoting variety and accessibility.
Challenges for Studios
Fitness studios often face challenges in attracting new members and retaining their existing ones. They may struggle to differentiate themselves in the (very!) competitive fitness landscape and address the ever-evolving preferences and expectations of their target audience.
Borislava highlighted some of the problems studios typically encounter. Many of them can be efficiently addressed by the MyStrongCircle bundling model, which facilitates direct relationships, offers unlimited classes, and enhances the overall fitness experience for members. This attracts loyal customers, aids in retention, and provides studios with a more targeted audience.
In this episode, Pete and Borislava discuss:
- MyStrongCircle's innovative pricing approach and tailored experience for fitness fanatics.
- Understanding the many advantages of combining memberships for an array of fitness studios.
- Recognizing the crucial role of focusing on sales and relationship-building over strictly just financial projections for budding entrepreneurs.
- The necessity of assembling a solid team and forging real-world connections.
Check out MyStrongCircle for personalized bundles of fitness classes and studios to gain access to the workouts you love!
If you're a studio owner? Considering partnering with them to promote your brand and gain exposure to a much broader audience.
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