Let me start off by eliminating any lawsuits in stating that the below commentary is my opinion and my opinion alone. It is not intended to insult any business in any way, shape or form. My job is a business consultant and as such I am using the companies listed below as examples. I do not represent them, I do not work for them, and aside from Self Made Training Facility – Columbus I do not have ownership in any of them. That being said…
I talk a lot about “Blue Ocean strategy” and why companies should create a Blue Ocean Strategy. I also talk a lot about how important it is to stay relevant as a business. Meaning that you need to change as the market changes and you need to be able to pivot to make sure you’re serving your customers’ needs completely.
Title Boxing is huge. They are a franchise and all over the place. There are more popping up every single day. My son used to work out there and their classes were typically aerobic. But the fact is last night when I was at Pilger‘s old school boxing, where I am three days a week with my son boxing, I have found that 60 to 70% of the kids and adults working out there have on Title Boxing Gloves. The same thing holds true for my gym. The majority of our new boxing athletes that come in have Title Boxing Gear. From bags to gloves and hand wraps, etc.
Why is this an issue? I asked this question on social media and people stated that “they do a great job promoting the brand”, “other gyms like to sell their bran, and other comments that made sense. However Title Boxing does not sell their gear outside of their gym. They are not a retail store. The people that buy their gloves and gear are people that are training at Title Boxing.
What does it mean when I see so much of their gear in other boxing gyms? Well title boxing is not a boxing gym. It’s a great workout and many people love it but it is an aerobic and strength training workout. Sure you learn moves and you learn how to hit a heavy bag but you don’t learn how to box, you don’t learn how to spar, and you don’t get a chance to get into a ring. As a matter of fact I have personally yet to see a Title Boxing location that has a ring. A boxing ring that is.
So their attrition rate is high. When someone comes in, like my son, and wants to learn how to box and realizes that they’re getting an aerobic workout, which again for some is exactly what they want, they look for a new place to take their game to the next level. What do I mean by this? My son and many others really enjoy boxing. He enjoyed the experience at Title. However he wanted to get in the ring, he wanted to learn how to actually box, he wanted to spar, he wanted to work on other boxing equipment like a speed bag. This opportunity was not afforded to him at Title Boxing. So after people sign their one year contract and it expires and they have a desire for more, they go to another gym. This creates huge attrition. It’s also not good for their marketing that their equipment shows up in other gyms because the fact is those athletes that are at Self Made Training Facility – Columbus, Pilger’s Old School Boxing are not also working out at Title Boxing. They have left Title Boxing and soon those branded gloves will come off and the gloves for their new gym that are branded to their new gym will go on.
The question is how can Title Boxing fix this problem? What is the issue at hand? What can be done about it?
The problem is athletes are not able to take their game to the next level. They need to correct that. One of the solutions would be to actually have a ring and have a boxing trainers that allow people that want to take their game to the next level to do so while sticking with Title Boxing. Right now they are basically creating love for the sport and then pushing people out the door to go pursue their passion. They can’t retain people this way. It’s like teaching a kid golf on a driving range. The kid falls in love with golf and wants to take it to the next level so what does he do? He gets out on a real golf course and learns all of the skills of the game, not just hitting the ball but chipping, getting out of sand traps, honing in all of the skills that are needed to be mastered in order to be a great golfer.
You can let a basketball player sit there and shoot free throws and a lot of people that love basketball started playing P. I. G. with their friends and their family on their driveway basketball hoop. But they needed the ability to expand that love for the game and get on the court and join a team.
The moral of the story is it’s great that Title Boxing has such a great following and that they are able to add members so quickly. What’s not great is they lose those members just as quick because of the fact that they are not able to take those members to the next level. If you’re going to get someone hooked on a sport or an activity you need to be able to take them to the next level.
The same thing holds true in business. If you own a landscaping company you’re not just going to cut grass. You are going to mulch, you are going to do fall cleanup and leaf removal, you may even do holiday lighting. You may design ponds and install water features for your clients. But if all you do is cut the grass eventually they’re going to move on to someone that can provide them with all of the landscaping services that they need.
Does your business have everything it needs to continue to grow with your clients? Do you continue to change as the market changes? Are you continually looking for ways to grow and further develop as well as market your business? Because if you’re not growing you’re dying. When you stop creating new opportunities in your business is when you start to become irrelevant.
It is my personal opinion that a brand that follows a model like the one listed above will not be in business very long unless they pivot and grow.
What’s wrong with this picture? Hint: these kids are working out at Pilger’s Old School Boxing Gym, not Title Boxing.