Alright – so today we’ve got the honor of introducing you to Gretchen Wirth. We think you’ll enjoy our conversation, we’ve shared it below.

Gretchen, appreciate you joining us today. Let’s start on the operational side – do you spend more of your time/focus/energy on growing revenue or cutting costs?

I run a pretty tight ship when it comes to expenses and sometimes I would consider myself a bit “squeaky” if you know what I mean! However, I spend the majority of my energy on growing the business. If you primarily focus on cutting costs and the market for your business declines or something goes wrong, you often have nothing left to “squeeze” to retain profitability.

Focusing on sales and customer experience to generate additional revenue opens opportunities for the business. It allows me to reinvest by taking calculated risks. As an example, I can offer additional headcount and job openings to assist with sales/marketing efforts to staff community events with a table or booth to drive memberships and brand awareness. Managing employee labor cost is critical to a small business. I take it very seriously…when I hire an employee, I consider it a longterm commitment to the person and their family. I can’t let anyone down and failure to make payroll is not an option. I think many small business owners struggle with balancing payroll. I always say, you can’t work on the business if you’re always working in the business!

Gretchen, love having you share your insights with us. Before we ask you more questions, maybe you can take a moment to introduce yourself to our readers who might have missed our earlier conversations?

I worked in the tech sector for 30 years for a Fortune 15 company as a sales executive and I’ve always wanted my own business but I was not willing to risk walking away from a high paying role with incredible benefits. In Dec of 2021 I received a call and was given an early retirement so I took some time off to travel and figure out what Gretchen 2.0 should look like. I am still too young and full of energy to retire and I believe we have an obligation to give back to society in some way.

With a strong background handling national retail and hospitality clients, franchising was an easy go to. I think most people choose to start a small business based on their talent or passion. I defined a few criteria that were important to me and then looked at opportunities purely from a business perspective; I grew into the passion.

I landed on a national franchise called HOTWORX. I had never heard of HOTWORX but a friend living in TN told me about it and how she and her husband loved going there so I started looking for one closest to me. As part of my research, I walked in to do a free trial and I mentioned to the Trainer Sales Associate that I was thinking about opening my own franchise and she told me the owners were looking to sell the location. I emailed them and things just fell into place from there. I always say it was just meant to be! I bought an existing location that had been in business for 3 years and I just opened my 2nd brand new location in Nov 2023.

HOTWORX is a 24 hour infrared fitness studio. There are 12 different virtually led workout sessions performed in 125 degree infrared heat. Infrared heat has amazing benefits and you can see great results in a fraction of the time. Benefits include muscle recovery, stress reduction, weight loss, improved circulation and detoxification to name a few. My first location is close to the Dallas Cowboys and Dallas Stars practice facilities so we have a good amount of professional athletes that supplement their normal workout routine with our infrared heat. I’ve learned so much that helps me up my game in the fitness industry.

I tell everyone I meet that I have the best job ever! I get to wake up everyday and talk to people and help them achieve thier goals whether it be weight loss, sports training, or improving overall health and mental wellness. I use to think what I did was important but I have to say, helping people stay healthy and feel better is far more satisfying and a great way to give back to others. I recently had an employee tell me she loves HOTWORX and working here doesn’t even feel like a job. That has to be one of the best compliments a leader can receive!

Can you talk to us about your experience with buying businesses?

When I decided to invest in a franchise, it was complete happanstance that I found an already existing location that became my first business.

It seems with my previous work experience for a Fortune 15 company, the acquistion process should have been easy but it definitely took research and was a huge learning for me. In the past I had many departments and “people” for every step of a contract negotiation process and all of a sudden I realized…I am “the people”. I had to finance part of the business so the SBA loan process forced me to dig deep into items that could have been future liabilities for me. Things I just didn’t know to ask about. Luckily, the previous owners were of similar business background and mindset so we easily learned together. Today, we remain friends and fellow colleagues and I consider myself fortunate to have walked into this opportunity.

I think the hardest part of the acquisition was waiting on other people to do their portion of the transaction. Once I decided to do this, I was full steam ahead and I realized every month that we didn’t close the transaction I was leaving money on the table. I had to learn patience waiting on the bankers, the broker, the seller, the real estate people, the inspectors and the Franchisor. The programmatic approach set me up for success. If you skip a step along the way, things can spiral.

How do you keep in touch with clients and foster brand loyalty?

It’s true, people do business with people they like!

On a day to day basis the simplist of things matter. Greeting someone with a smile and a quick hello everytime they enter your brick and morter, remembering their name, asking questions about themselves and their families.

On a larger scale, I have a subscription based business so it’s important to actively use a CRM tool with a programmatic approach to keep members engaged and coming into the studio regularly. This is one of the most important things I have learned in the last year. Engagement early and often is best, Many people who join a fitness program have good intentions and then fall off or don’t keep their commitment to improving and maintaining a healthy lifestyle because life gets in the way and let’s face it, anything that makes us better isn’t always easy. In the beginning I didn’t have the team use the tool effectively and then it becomes a question of reaching out to the client or not because chances are greater that they will cancel because they are paying for a membership they haven’t used in months. It’s a delicate balance.

Additionally, we do some really fun things in studio like monthly challenge cards where clients can win prizes and host a monthly event with snacks and bevvies where other small businesses can offer services to my members for free or at a discounted rate. We want our members to feel like this is their home away from home, a place they want to be.

I’d be remiss not to mention social media to showcase our members accomplishments and business updates.

Contact Info:

• Website: https://www.hotworx.net/studio/frisco-prestonlebanon
• Instagram: https://www.instagram.com/hotworxfriscoprestonlebanon
• Facebook: https://www.facebook.com/hotworxfriscoprestonlebanon/
• Linkedin: https://www.linkedin.com/in/gretchen-c-wirth-b528348/