1 00:00:03,460 --> 00:00:06,420 Sean Aylmer: Welcome to the Fear and Greed Daily Interview. I'm Sean Aylmer. 2 00:00:06,730 --> 00:00:09,700 Sean Aylmer: Health and fitness is booming right now. Gyms of all 3 00:00:09,700 --> 00:00:12,060 Sean Aylmer: varieties can be found in every town and suburb in 4 00:00:12,060 --> 00:00:15,190 Sean Aylmer: the country, while other operators are offering fitness programs at 5 00:00:15,190 --> 00:00:18,620 Sean Aylmer: home using apps and other technology. Of course, where there's 6 00:00:18,620 --> 00:00:22,639 Sean Aylmer: demand like that, there's a golden opportunity for entrepreneurs. One of 7 00:00:22,640 --> 00:00:25,840 Sean Aylmer: them is Cameron Falloon. Cameron has been a strength and 8 00:00:25,840 --> 00:00:29,400 Sean Aylmer: conditioning coach for AFL teams and international soccer teams, and 9 00:00:29,400 --> 00:00:31,930 Sean Aylmer: was even the personal trainer for the late Princess Diana 10 00:00:31,930 --> 00:00:34,430 Sean Aylmer: in the year before she died. He's now the founder 11 00:00:34,430 --> 00:00:37,729 Sean Aylmer: and joint CEO of BFT, that's for Body Fit Training, 12 00:00:38,030 --> 00:00:40,989 Sean Aylmer: a fitness company with more than 300 franchises and a $ 13 00:00:40,990 --> 00:00:44,260 Sean Aylmer: 60 million deal for expansion into the US. Cameron, welcome 14 00:00:44,260 --> 00:00:44,760 Sean Aylmer: to Fear and Greed. 15 00:00:45,380 --> 00:00:46,670 Cameron Falloon: Morning, Sean. Thanks for having me. 16 00:00:47,250 --> 00:00:50,610 Sean Aylmer: So what makes BFT different because there are many, many 17 00:00:50,610 --> 00:00:51,360 Sean Aylmer: gyms out there? 18 00:00:51,790 --> 00:00:55,670 Cameron Falloon: Yeah, there are, and it's a really competitive landscape, and our 19 00:00:55,670 --> 00:00:58,830 Cameron Falloon: actual tagline is different and better, which is pretty ballsy 20 00:00:58,830 --> 00:01:01,040 Cameron Falloon: to be honest and a little bit cheeky, but it 21 00:01:01,040 --> 00:01:03,960 Cameron Falloon: challenges us to be different and better and keeps reminding 22 00:01:03,960 --> 00:01:06,869 Cameron Falloon: us that we can't sit still and take things for granted, 23 00:01:06,870 --> 00:01:09,410 Cameron Falloon: that we've got to continue to innovate in the marketplace. 24 00:01:10,230 --> 00:01:12,300 Cameron Falloon: I guess there's a lot of group training around what 25 00:01:12,300 --> 00:01:15,340 Cameron Falloon: I've done is draw on 30 years of experience in 26 00:01:15,340 --> 00:01:18,040 Cameron Falloon: the industry and working with athletes, and tried to use 27 00:01:18,510 --> 00:01:21,920 Cameron Falloon: a lot of science and proven methodologies that you would 28 00:01:22,290 --> 00:01:25,030 Cameron Falloon: use to train athletes and how you would plan and 29 00:01:25,060 --> 00:01:29,050 Cameron Falloon: periodise and progress their training. I guess the right word's 30 00:01:29,050 --> 00:01:30,970 Cameron Falloon: not dumb it down, but you get a sense of 31 00:01:30,980 --> 00:01:34,470 Cameron Falloon: it to just bring that into the mainstream and allow 32 00:01:34,770 --> 00:01:38,729 Cameron Falloon: the weekend warriors the opportunity to, I guess, experience a 33 00:01:38,730 --> 00:01:41,720 Cameron Falloon: similar methodology, but in a group environment where it's fun, 34 00:01:41,720 --> 00:01:45,330 Cameron Falloon: it's a community- driven environment and for our particular model in 35 00:01:45,330 --> 00:01:47,830 Cameron Falloon: the marketplace, we do a lot more strength training than 36 00:01:47,830 --> 00:01:51,030 Cameron Falloon: most of our competitors. The majority of our competitors in 37 00:01:51,030 --> 00:01:55,540 Cameron Falloon: the space are very aerobically driven. We certainly do aerobic training, 38 00:01:55,610 --> 00:01:58,430 Cameron Falloon: but we do a lot more bias towards strength training, 39 00:01:58,430 --> 00:02:01,640 Cameron Falloon: which we believe strength underpins all physical performance. 40 00:02:05,010 --> 00:02:07,230 Sean Aylmer: The industry itself, it does seem to be growing fast. Compared to 10 years ago, how much bigger 41 00:02:07,230 --> 00:02:08,589 Sean Aylmer: is it? 42 00:02:08,639 --> 00:02:11,130 Cameron Falloon: Oh, it's huge. I've been in the industry for 30 years, 43 00:02:11,440 --> 00:02:14,620 Cameron Falloon: and strangely enough, I think COVID, the last 18 months 44 00:02:14,620 --> 00:02:17,130 Cameron Falloon: to two years, has actually really fast- tracked the industry, 45 00:02:17,130 --> 00:02:20,609 Cameron Falloon: especially in the digital space. You're finding now 10 years ago, 46 00:02:20,630 --> 00:02:23,290 Cameron Falloon: 15 years ago, probably there was a lot of what 47 00:02:23,290 --> 00:02:26,580 Cameron Falloon: we call big box gyms. 3, 000 square meters, 4, 48 00:02:26,580 --> 00:02:30,440 Cameron Falloon: 000 members. People now are exposed through social media to 49 00:02:30,440 --> 00:02:35,120 Cameron Falloon: so many different other methodologies and means to exercise. Therefore, 50 00:02:35,120 --> 00:02:39,709 Cameron Falloon: it's seen the evolution of these boutique spaces, smaller, 100, 120, 200 51 00:02:39,710 --> 00:02:42,980 Cameron Falloon: square meter facilities, lots of different options for people. People 52 00:02:42,980 --> 00:02:45,490 Cameron Falloon: don't want to drive to destination gyms anymore. They want 53 00:02:45,490 --> 00:02:48,190 Cameron Falloon: to walk or ride their bike, have something within two 54 00:02:48,190 --> 00:02:53,419 Cameron Falloon: kilometers of their home. That's fantastic because the competitive element 55 00:02:53,419 --> 00:02:56,310 Cameron Falloon: of the industry keeps everyone on their toes. If you're 56 00:02:56,310 --> 00:02:59,570 Cameron Falloon: not delivering a fantastic product, you haven't got a key market, 57 00:03:00,000 --> 00:03:03,090 Cameron Falloon: you're not continuing to innovate, build great communities and engage 58 00:03:03,090 --> 00:03:05,540 Cameron Falloon: your members and give them what they want, there's just 59 00:03:05,540 --> 00:03:08,770 Cameron Falloon: so many other opportunities for them. So it's a really 60 00:03:08,770 --> 00:03:10,730 Cameron Falloon: competitive landscape, but I think that's a great thing for 61 00:03:10,730 --> 00:03:10,821 Cameron Falloon: the industry. 62 00:03:10,820 --> 00:03:14,360 Sean Aylmer: I think it's interesting. I was going to tell this story in first person, Cameron, but 63 00:03:14,360 --> 00:03:16,450 Sean Aylmer: I'd be absolutely lying because it's actually two of my 64 00:03:16,450 --> 00:03:18,530 Sean Aylmer: sons that did it. During COVID, they did a thing 65 00:03:18,530 --> 00:03:22,579 Sean Aylmer: called 75 Hard, which was 75 days of certain exercises, 66 00:03:22,580 --> 00:03:24,740 Sean Aylmer: which they did together and they managed and they both 67 00:03:24,740 --> 00:03:27,710 Sean Aylmer: lost a lot of weight. They got very fit and 68 00:03:27,710 --> 00:03:30,669 Sean Aylmer: all that. As soon as gyms reopened, they went straight 69 00:03:30,669 --> 00:03:33,020 Sean Aylmer: back to the gym. I thought it was a really interesting 70 00:03:33,760 --> 00:03:36,970 Sean Aylmer: concept that they had enjoyed this 75- day hard thing they 71 00:03:37,120 --> 00:03:41,420 Sean Aylmer: had done together, but they missed the community of the 72 00:03:41,420 --> 00:03:44,140 Sean Aylmer: gym. So as soon as they could, and we had a 73 00:03:44,140 --> 00:03:46,700 Sean Aylmer: gym in the downstairs garage and all that, that's now 74 00:03:46,700 --> 00:03:50,530 Sean Aylmer: gathering dust, and they've gone straight back. There is something 75 00:03:50,720 --> 00:03:53,820 Sean Aylmer: in that idea of actually being part of a community. 76 00:03:54,260 --> 00:03:57,530 Cameron Falloon: Oh, it's huge. Our studios at BFT are built off 77 00:03:57,530 --> 00:04:01,900 Cameron Falloon: it. Our digital platforms, our programming, which is our core 78 00:04:01,900 --> 00:04:05,440 Cameron Falloon: product and what we sell is really insignificant when you 79 00:04:05,440 --> 00:04:09,090 Cameron Falloon: compare it to the communities and the human interactions. Let's 80 00:04:09,090 --> 00:04:10,950 Cameron Falloon: be honest, through COVID, that's the one thing that we've 81 00:04:10,950 --> 00:04:13,910 Cameron Falloon: missed and we've been isolated and away from other humans. 82 00:04:14,940 --> 00:04:17,279 Cameron Falloon: People have just wanted to get back in and it 83 00:04:17,279 --> 00:04:20,489 Cameron Falloon: is their little haven. So it's that one a day 84 00:04:20,930 --> 00:04:23,830 Cameron Falloon: or 50 minutes or whatever it might be that they 85 00:04:23,830 --> 00:04:26,290 Cameron Falloon: get to detach from the world, and it's all about 86 00:04:26,290 --> 00:04:30,340 Cameron Falloon: them. We train our franchisees and their trainers and their 87 00:04:30,420 --> 00:04:32,950 Cameron Falloon: staff to make sure that when our members are coming 88 00:04:32,950 --> 00:04:36,160 Cameron Falloon: into a BFT franchisee, that they are giving them their 89 00:04:36,160 --> 00:04:39,170 Cameron Falloon: absolute best every day and making them feel special and 90 00:04:39,339 --> 00:04:41,540 Cameron Falloon: making them feel a part of that community, because that is 91 00:04:41,540 --> 00:04:44,300 Cameron Falloon: what will make them come back. The exercise is almost 92 00:04:44,300 --> 00:04:46,419 Cameron Falloon: secondary to it and the results will come if they 93 00:04:46,420 --> 00:04:50,029 Cameron Falloon: follow the programs and they utilize our technology, but it's 94 00:04:50,029 --> 00:04:53,250 Cameron Falloon: the community and the human interactions, which is what's bringing people back. 95 00:04:53,660 --> 00:04:55,460 Sean Aylmer: Stay with me, Cameron, we'll be back in a minute. 96 00:05:00,830 --> 00:05:04,120 Sean Aylmer: I'm speaking to Cameron Falloon, founder and joint CEO of 97 00:05:04,120 --> 00:05:08,170 Sean Aylmer: BFT, that's for Body Fit Training. Okay. So now you're franchising. 98 00:05:08,270 --> 00:05:11,219 Sean Aylmer: Just give me a very potted history, Cameron, of where 99 00:05:11,220 --> 00:05:14,190 Sean Aylmer: it came from. So you've obviously had a very glorious 100 00:05:14,190 --> 00:05:16,919 Sean Aylmer: career in your industry, but how did you start BFT 101 00:05:17,180 --> 00:05:18,370 Sean Aylmer: and then why franchise it? 102 00:05:18,710 --> 00:05:22,360 Cameron Falloon: Yeah, I left the elite sports field and was looking 103 00:05:22,360 --> 00:05:25,260 Cameron Falloon: for a way to utilise my skills and knowledge. I 104 00:05:25,260 --> 00:05:28,130 Cameron Falloon: did some research into the industry and what was trending, 105 00:05:28,130 --> 00:05:31,050 Cameron Falloon: where were people going with things? Group training was really 106 00:05:31,050 --> 00:05:35,900 Cameron Falloon: trending around 2014, 2015. CrossFit was around and CrossFit, if you're 107 00:05:35,900 --> 00:05:38,220 Cameron Falloon: aware of it, is a really great way to train, but 108 00:05:38,240 --> 00:05:40,830 Cameron Falloon: it's a lot of really heavy lifting, heavy barbell work, 109 00:05:40,830 --> 00:05:44,920 Cameron Falloon: heavy kettlebell work. It's quite extreme to an extent. Then 110 00:05:44,920 --> 00:05:47,620 Cameron Falloon: at the other end of the spectrum was group training 111 00:05:47,620 --> 00:05:53,470 Cameron Falloon: like Barry's Bootcamp or Les Mills, or F45, et cetera, Orangetheory. 112 00:05:53,529 --> 00:05:55,890 Cameron Falloon: There was nothing in between. So you kind of had 113 00:05:55,890 --> 00:05:59,120 Cameron Falloon: this really massive void in the marketplace where it was 114 00:05:59,120 --> 00:06:02,670 Cameron Falloon: at the top end, really extreme barbell, lots of heavy weights, 115 00:06:02,670 --> 00:06:05,029 Cameron Falloon: kettlebell training, and at the complete opposite end of the 116 00:06:05,029 --> 00:06:09,029 Cameron Falloon: spectrum was this sort of aerobic group training, which I 117 00:06:09,029 --> 00:06:12,560 Cameron Falloon: thought had a ceiling. My experience working with athletes was 118 00:06:12,560 --> 00:06:14,990 Cameron Falloon: that athletes take a long time to develop. So in 119 00:06:14,990 --> 00:06:17,050 Cameron Falloon: the instance of an AFL player, it's about five or 120 00:06:17,050 --> 00:06:20,010 Cameron Falloon: seven years in the system before they're really physically developed 121 00:06:20,370 --> 00:06:23,910 Cameron Falloon: and can handle and perform week in, week out, and 122 00:06:23,960 --> 00:06:26,810 Cameron Falloon: endure the demands of the game. So my thinking was 123 00:06:26,810 --> 00:06:28,719 Cameron Falloon: why isn't this being offered in the marketplace for the 124 00:06:28,720 --> 00:06:32,960 Cameron Falloon: general punter? That was the opportunity for me. So BFT is 125 00:06:32,990 --> 00:06:35,510 Cameron Falloon: really pitched right between those two extremes in the market. 126 00:06:36,339 --> 00:06:39,529 Cameron Falloon: I guess we pulled from both poles, and it was 127 00:06:39,529 --> 00:06:43,010 Cameron Falloon: bringing a methodology where you can come in with no experience, 128 00:06:43,060 --> 00:06:46,270 Cameron Falloon: and whilst we have a program that everyone's doing on 129 00:06:46,270 --> 00:06:49,040 Cameron Falloon: the day, we operate under what's called a freedom within 130 00:06:49,040 --> 00:06:52,920 Cameron Falloon: a framework. So the programming is the framework, but the 131 00:06:52,920 --> 00:06:55,969 Cameron Falloon: freedom within it is, if there's 36 people in a class, 132 00:06:56,400 --> 00:06:59,029 Cameron Falloon: the freedom is for the trainers to personalise that to 133 00:06:59,029 --> 00:07:03,000 Cameron Falloon: every individual within the class, because you can't expect 36 134 00:07:03,000 --> 00:07:05,850 Cameron Falloon: people to all do the same exercises because we all 135 00:07:05,850 --> 00:07:10,100 Cameron Falloon: have different backgrounds, different injury histories, different levels of conditioning, 136 00:07:10,500 --> 00:07:14,600 Cameron Falloon: different size limbs, and ranges of movement. So we operate 137 00:07:14,600 --> 00:07:17,100 Cameron Falloon: in that freedom within the framework. So when I looked 138 00:07:17,100 --> 00:07:19,500 Cameron Falloon: at the business model and what was appealing to franchise 139 00:07:19,500 --> 00:07:22,810 Cameron Falloon: was there's a lot of really passionate people in the industry. 140 00:07:23,710 --> 00:07:26,630 Cameron Falloon: About 10 years ago, the lifespan of a personal trainer 141 00:07:26,630 --> 00:07:30,580 Cameron Falloon: was nine months. So 30, 000 people getting qualified a year 142 00:07:31,190 --> 00:07:33,690 Cameron Falloon: and nine months is the actual lifespan. So it's not 143 00:07:33,690 --> 00:07:36,910 Cameron Falloon: a great story for the industry. There's actually a lot 144 00:07:36,910 --> 00:07:39,580 Cameron Falloon: of passionate people out there, but they don't have an opportunity 145 00:07:39,630 --> 00:07:42,410 Cameron Falloon: to own a business and grow and develop a business 146 00:07:42,410 --> 00:07:44,530 Cameron Falloon: because it does take a lot of investment, time, and money. 147 00:07:45,210 --> 00:07:48,090 Cameron Falloon: Then there's also, the education was starting to dilute. Everything 148 00:07:48,090 --> 00:07:51,370 Cameron Falloon: was going online. Things were getting through RTOs (Registered Training Organisations), churning out 149 00:07:51,370 --> 00:07:55,140 Cameron Falloon: certifications left, right and centre. So coming from a high- 150 00:07:55,140 --> 00:07:58,190 Cameron Falloon: performance background, I really struggled with trying to employ people 151 00:07:58,190 --> 00:08:00,960 Cameron Falloon: when I first came out, because everyone said they were a 152 00:08:00,960 --> 00:08:04,320 Cameron Falloon: strength and conditioning coach, or that they did body composition work, 153 00:08:04,320 --> 00:08:07,750 Cameron Falloon: or they were a nutritionist, et cetera. It actually wasn't the case. 154 00:08:07,810 --> 00:08:11,110 Cameron Falloon: They'd had certifications, but it wasn't like going to university 155 00:08:11,200 --> 00:08:14,480 Cameron Falloon: and doing a three or four- year degree plus postgraduate studies. 156 00:08:14,480 --> 00:08:18,180 Cameron Falloon: So I guess the opportunity for me was if I 157 00:08:18,180 --> 00:08:21,030 Cameron Falloon: could build a model that had that specific niche in 158 00:08:21,030 --> 00:08:23,960 Cameron Falloon: the marketplace that ticks one box, if I can provide 159 00:08:23,960 --> 00:08:27,730 Cameron Falloon: a system that allows passionate people in the industry to have 160 00:08:27,730 --> 00:08:30,450 Cameron Falloon: an opportunity to own a business through the IP that 161 00:08:30,450 --> 00:08:32,959 Cameron Falloon: we can develop and supporting them through our business system, 162 00:08:32,960 --> 00:08:35,710 Cameron Falloon: that tick another box, and a problem that I'm seeing in 163 00:08:35,710 --> 00:08:39,730 Cameron Falloon: the industry. Then thirdly is if I can provide education 164 00:08:39,809 --> 00:08:43,069 Cameron Falloon: and we continue to upskill and develop these people, then 165 00:08:43,070 --> 00:08:45,000 Cameron Falloon: that ticks another box for me, that I'm seeing as 166 00:08:45,000 --> 00:08:47,590 Cameron Falloon: an issue within the industry. They were the three real key drivers 167 00:08:47,590 --> 00:08:50,600 Cameron Falloon: for me. I was very fortunate that a family friend 168 00:08:50,600 --> 00:08:54,280 Cameron Falloon: of mine started Sports GO, which was a sports franchise 169 00:08:54,280 --> 00:08:57,040 Cameron Falloon: chain back in the day before the Rebels of the world 170 00:08:57,500 --> 00:09:00,530 Cameron Falloon: came into place. At the time, they were the largest 171 00:09:00,530 --> 00:09:04,939 Cameron Falloon: Australian franchise group back in the 80s and 90s. So I lent 172 00:09:04,940 --> 00:09:08,530 Cameron Falloon: on that family friend, Des Morgan, and talked about it, 173 00:09:08,530 --> 00:09:12,010 Cameron Falloon: and he gave me some really, really valuable advice about 174 00:09:12,010 --> 00:09:14,260 Cameron Falloon: how to go about it. So that led to me 175 00:09:14,660 --> 00:09:16,939 Cameron Falloon: opening up four test studios, just to test the marketplace, and I 176 00:09:16,940 --> 00:09:19,500 Cameron Falloon: made a hell of a lot of mistakes and spent 177 00:09:19,500 --> 00:09:21,819 Cameron Falloon: a hell of a lot of money. What I realised 178 00:09:21,820 --> 00:09:23,929 Cameron Falloon: was that we did have something and that people really 179 00:09:23,929 --> 00:09:26,280 Cameron Falloon: enjoyed it and we were getting great feedback from members. I was seeing 180 00:09:27,250 --> 00:09:29,569 Cameron Falloon: a lot of smiles on faces because of the community aspect. 181 00:09:29,570 --> 00:09:31,280 Cameron Falloon: So that's where it started. 182 00:09:31,580 --> 00:09:33,270 Sean Aylmer: You've really pushed out in, there are a number of 183 00:09:33,270 --> 00:09:39,240 Sean Aylmer: high profile sports people, AFL, cricketers, rugby league players as franchisees. 184 00:09:39,240 --> 00:09:40,830 Sean Aylmer: Is that a deliberate model you've got? 185 00:09:41,240 --> 00:09:44,870 Cameron Falloon: No, not at all. The model resonates with athletes. As 186 00:09:44,870 --> 00:09:47,170 Cameron Falloon: I said, the background to it is that we're trying to 187 00:09:47,210 --> 00:09:49,830 Cameron Falloon: model our training based on what we would do with 188 00:09:49,830 --> 00:09:52,990 Cameron Falloon: an athlete. In particular, an AFL athlete, they're very hybrid. 189 00:09:52,990 --> 00:09:55,820 Cameron Falloon: So I guess the premise of our week, every week 190 00:09:55,870 --> 00:09:59,340 Cameron Falloon: when we program and send the programs to sites, we're 191 00:09:59,340 --> 00:10:03,190 Cameron Falloon: trying to train every energy system. There's three energy systems that the body 192 00:10:03,190 --> 00:10:07,020 Cameron Falloon: has. We're trying to train every muscle fiber type, so fast- 193 00:10:07,020 --> 00:10:09,620 Cameron Falloon: twitch and slow- twitch muscles. And we're also trying to 194 00:10:09,620 --> 00:10:12,760 Cameron Falloon: move the body in as many movement planes as possible, 195 00:10:12,760 --> 00:10:15,670 Cameron Falloon: because we are designed to not just say, for example, 196 00:10:15,670 --> 00:10:17,819 Cameron Falloon: when you're walking, that's what's called moving in a sagittal 197 00:10:17,910 --> 00:10:22,650 Cameron Falloon: plane, we're designed to rotate, twist, bend, flex, extend, et 198 00:10:22,650 --> 00:10:26,300 Cameron Falloon: cetera. So we train all of those movement patterns so you're 199 00:10:26,300 --> 00:10:29,740 Cameron Falloon: getting a nice well- rounded, balanced approach to your training. 200 00:10:30,520 --> 00:10:33,280 Cameron Falloon: That really resonates with athletes because that's how they train. They 201 00:10:34,120 --> 00:10:37,500 Cameron Falloon: have their high intensity days. They do train extremely hard. 202 00:10:37,960 --> 00:10:40,460 Cameron Falloon: They also have their low intensity days and recovery and 203 00:10:40,460 --> 00:10:44,020 Cameron Falloon: yoga and so on. So it resonates with them. We 204 00:10:44,309 --> 00:10:47,319 Cameron Falloon: absolutely haven't targeted athletes, but when they've come in, they've 205 00:10:47,320 --> 00:10:50,199 Cameron Falloon: heard about us and they've tried the programming and they've 206 00:10:50,200 --> 00:10:53,420 Cameron Falloon: done a week, they understand the methodology, and it's really 207 00:10:53,420 --> 00:10:54,700 Cameron Falloon: powerful because they believe in it. 208 00:10:54,740 --> 00:10:56,890 Sean Aylmer: Okay. We're running out of time, but a couple of 209 00:10:56,890 --> 00:10:58,700 Sean Aylmer: things I do want to mention. When do we hit 210 00:10:58,700 --> 00:11:00,510 Sean Aylmer: peak gym, Cameron, or we won't? 211 00:11:01,090 --> 00:11:02,960 Cameron Falloon: I don't think it will. I think it's a really 212 00:11:02,960 --> 00:11:05,920 Cameron Falloon: exciting time. As I said, there's more boutique offerings. There's 213 00:11:05,920 --> 00:11:09,750 Cameron Falloon: more specific fitness offerings for the individuals these days. I 214 00:11:09,750 --> 00:11:12,429 Cameron Falloon: think that's a great thing rather than just having really 215 00:11:12,429 --> 00:11:16,020 Cameron Falloon: big box gyms that have breakout studios and big weights 216 00:11:16,020 --> 00:11:18,670 Cameron Falloon: areas and big cardio studios. There's nothing wrong with that, 217 00:11:18,670 --> 00:11:21,939 Cameron Falloon: but that's not for everyone. There's just so many different 218 00:11:21,940 --> 00:11:24,900 Cameron Falloon: service offerings in the industry. I think it's fantastic. It's 219 00:11:24,900 --> 00:11:27,110 Cameron Falloon: a really exciting time. I think the last two years 220 00:11:27,110 --> 00:11:30,160 Cameron Falloon: with COVID has fast- tracked the growth of the industry. 221 00:11:30,160 --> 00:11:33,110 Cameron Falloon: It's made people sharpen their game, especially in the tech space. 222 00:11:33,309 --> 00:11:36,300 Cameron Falloon: I'm actually really excited. The competitive element right now, I think, 223 00:11:36,300 --> 00:11:38,340 Cameron Falloon: is really going to drive the industry forward, and it's 224 00:11:38,340 --> 00:11:39,229 Cameron Falloon: only going to get better. 225 00:11:39,880 --> 00:11:42,030 Sean Aylmer: I mentioned the $ 60 million cash- up- front deal in 226 00:11:42,030 --> 00:11:45,370 Sean Aylmer: the US with Xponential Fitness. What's that about? What do 227 00:11:45,370 --> 00:11:46,560 Sean Aylmer: you hope to use that money for? 228 00:11:47,030 --> 00:11:49,660 Cameron Falloon: Yeah, it's a really good opportunity. Xponential are a curator 229 00:11:49,660 --> 00:11:52,400 Cameron Falloon: of fitness brands. They have nine brands in the US, 230 00:11:52,480 --> 00:11:55,240 Cameron Falloon: nearly 2, 000 studios operating in the US. It was 231 00:11:55,240 --> 00:11:57,790 Cameron Falloon: a fantastic opportunity for us to partner with someone to 232 00:11:57,790 --> 00:12:00,140 Cameron Falloon: take on the brand in the US. So they own the 233 00:12:00,210 --> 00:12:03,480 Cameron Falloon: USA and Canada. We still own the rights to Body 234 00:12:03,480 --> 00:12:07,190 Cameron Falloon: Fit Training globally. They own the IP. So again, with 235 00:12:07,190 --> 00:12:12,730 Cameron Falloon: their digital platforms and sophistication, their technology sophistication, they'll be 236 00:12:12,730 --> 00:12:15,010 Cameron Falloon: able to do things with our IP over the next 237 00:12:15,200 --> 00:12:18,080 Cameron Falloon: two plus years that we just couldn't have even got 238 00:12:18,080 --> 00:12:22,010 Cameron Falloon: close to. So they're going to be able to fast- track our member experience, 239 00:12:22,200 --> 00:12:25,050 Cameron Falloon: our member engagement, and all of our franchisees will benefit 240 00:12:25,050 --> 00:12:28,140 Cameron Falloon: from that. So as much as they're selling franchises and 241 00:12:28,140 --> 00:12:32,040 Cameron Falloon: growing our brand in the US, it's actually the IP and the 242 00:12:32,040 --> 00:12:34,510 Cameron Falloon: development and the fast- tracking of that leveraging off their 243 00:12:34,650 --> 00:12:38,160 Cameron Falloon: current platforms that we will benefit from, and our members 244 00:12:38,160 --> 00:12:41,809 Cameron Falloon: and franchisees through the APEC region will benefit from in 245 00:12:41,809 --> 00:12:42,950 Cameron Falloon: 2022 and beyond. 246 00:12:43,480 --> 00:12:45,790 Sean Aylmer: Okay. I can't let you go without asking the question 247 00:12:45,790 --> 00:12:48,270 Sean Aylmer: that I'm sure everyone asks you every time they read 248 00:12:48,270 --> 00:12:50,700 Sean Aylmer: your CV. What was it like training Lady Di? 249 00:12:51,150 --> 00:12:52,950 Cameron Falloon: To be honest, it's a bit more surreal now than 250 00:12:52,950 --> 00:12:55,580 Cameron Falloon: what it was at the time. I was a pretty naive 22 251 00:12:55,580 --> 00:12:58,250 Cameron Falloon: year old at the time, but yeah, a very humbling experience. 252 00:12:58,250 --> 00:13:01,660 Cameron Falloon: She was a lovely lady, extremely private. We used to 253 00:13:01,660 --> 00:13:04,300 Cameron Falloon: train in the wee hours of the morning before opening 254 00:13:04,300 --> 00:13:07,069 Cameron Falloon: hours to the public. It was certainly a very surreal 255 00:13:07,070 --> 00:13:09,780 Cameron Falloon: experience and I don't talk about it often only because 256 00:13:09,780 --> 00:13:11,180 Cameron Falloon: I really respect her privacy. 257 00:13:11,800 --> 00:13:12,420 Sean Aylmer: That's fair enough. 258 00:13:12,480 --> 00:13:15,010 Cameron Falloon: And also because it was at a time when, I tell people, 259 00:13:15,460 --> 00:13:18,150 Cameron Falloon: they laugh, but Google wasn't invented when I was training 260 00:13:18,150 --> 00:13:21,550 Cameron Falloon: Princess Di. So there was no social media and all 261 00:13:21,550 --> 00:13:23,521 Cameron Falloon: those sorts of things, but that's- 262 00:13:23,521 --> 00:13:25,420 Sean Aylmer: Not a bad thing. Not a bad thing. 263 00:13:25,420 --> 00:13:26,190 Cameron Falloon: No, it's not a bad thing at all. 264 00:13:27,179 --> 00:13:28,700 Sean Aylmer: Cameron, thank you for talking to Gear and Greed. 265 00:13:29,340 --> 00:13:30,640 Cameron Falloon: Hanks very much, Sean. Appreciate it. 266 00:13:30,970 --> 00:13:34,559 Sean Aylmer: That was Cameron Falloon, founder and joint CEO of BFT. 267 00:13:34,900 --> 00:13:36,960 Sean Aylmer: This is a Fear and Greed Daily Interview. Join me 268 00:13:36,960 --> 00:13:39,309 Sean Aylmer: every morning for the full Gear and Greed podcast with 269 00:13:39,309 --> 00:13:41,959 Sean Aylmer: all the business news you need to know. I'm Sean Aylmer. 270 00:13:42,179 --> 00:13:42,850 Sean Aylmer: Enjoy your day.