Paul Frick is ready for new challenges. Since founding his Premium Service Brands in 2006, Flick has built his portfolio of nine home service brands and sees opportunities to repeat the process in new industries.
Flick purchased four units of Pūrvelo Cycle from founder Kristin Watson in June, and in September began franchising the indoor cycling concept boutique under his recently created Extraordinary Brands. He said he is in the stage of a letter of intent to acquire his second fitness brand in Tennessee, building a “boutique he multi-his franchisor platform that shares memberships across fitness and wellness brands.” Our goal is to
“We make a few acquisitions each year to manage growth, just like we do with our premium service brands,” he said. Flick founded 360 Degree Painting, launched and acquired brands over the years, expanded PSB’s portfolio to include ProLift Garage Doors, Maid Right, Kitchen Wise and Closet Wise, Renew Crew, Rubbish Works Junk We also included Removal, The Graut Medic, House Doctors, and RooterMan.
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The nature of these concepts requires that services be delivered to customers, but in fitness, beauty and wellness, “the customer experience can be difficult to manage,” he said. products or services. During the COVID-19 pandemic, boutiques said fitness “obviously went down at a pretty tough time,” but Flick believes the segment will recover.
“My personal opinion is that people want to go to the gym and work out with other people, not in the basement with Peloton.”
Like Premium Service Brands, Pūrvelo is based in Charlottesville, Virginia. Flick jumped in when it learned the founders were looking to sell. It’s about staying deeply involved with the brand,” said Flick.
Susquehanna Private Capital, which took a minority stake in the premium service brand in 2021, is not involved in the new venture, Flick said. “I am funding this myself,” he said. He will continue to serve as CEO of the premium services brand, adding that he will remain “100%” focused on the company. He brought in former president of franchise development Alison Zorich to lead Pulvero as president, and plans to announce the addition of other leaders for the Extraordinary brand early next year.
Zorich, who spent nearly nine years in business development at Guidant Financial before moving to franchise development, was intrigued by Pūrvelo and its franchise growth potential because, unlike other group fitness training, the class environment is not competitive. said he had “It’s like a Miami nightclub in the dark with no metrics, no mirrors, no leaderboards, no competition,” she said.
Zorich credits Watson with creating its own models with different class styles, some incorporating free weights. “People are happy to participate, do what they want, participate and be part of this community,” she said, adding that after her first class, “I was drenched.” Added.
Franchise locations with footprints of 1,800 to 2,200 square feet will be built using a new store design that incorporates walls of merchandise, lockers and spaces for people to mingle before and after classes. The existing four studios are “very eclectic,” she said, and one of her goals was to have a uniform look and feel for Pūrvelo when the franchise was launched. She also noted that while Watson is focused on the college market, her other three studios are located in Auburn, Alabama; Chapel Hill, North Carolina; said to include a market for
“College towns are great and I would never rule them out,” she continued, but since these places operated seasonally when classes were in session, “what can you do 365 days a year? I would like to know if it is possible.”
The investment cost for the Pūrvelo Cycle location ranges from $358,920 to $458,320, and in addition to signing single unit contracts, the brand also offers an area development model.