Profile just started its new fiscal year in July, and the company is a few months away from celebrating the day the doors opened at their first retail location.
Profile’s Vice President Nate Malloy joined Profile Nation to discuss Profile’s rapid growth and new developments.
Profile just started its new fiscal year in July, and the company is a few months away from celebrating the day the doors opened at their first retail location. There’s been a flurry of activity in the two months since we last talked to Profile Vice President Nate Malloy, and the company has been busy.
The Profile Nation Blog caught up with Malloy to get his thoughts heading into the new fiscal year.
Profile Nation: We always start with this same question. What is on your mind right now?
Malloy:Simplicity. We use “simple, effective and sustainable” as guideposts for the work we do. We use them to help our members understand what makes Profile unique, and the same three words apply to our franchise model. In both cases, the real challenge is continuing to simplify what we do. For our members, that means making convenience a priority. On the franchising side, it boils down to streamlining our lead-to-launch process.
Profile Nation: We’ve seen a lot of franchise announcements lately. What does that mean for Profile?
Malloy: The secret is getting out. More and more people are beginning to understand what Profile offers. Grand Forks, Cedar Rapids, Colorado Springs, Des Moines, Phoenix, Madison, Nashville, Canada… they’re all examples of how far we’ve come as a company. Last July, we had 28 stores open and 2 in development. Today, we have 30 open and 61 in development including 4 stores that Profile will develop ourselves. That means we’ll be at 91 locations in the next 36 months or so. That’s the floor, and I believe we don’t have a ceiling.
Profile Nation: If a potential franchisee called right now, what would you say?
Malloy: We’re focused on finding like-minded business partners; people who share our vision for the type of impact we can make. With franchisees, that means helping them understand Profile and what makes us different than any other brand in the weight loss or lifestyle change industries. Once a franchisee can see what we see, it’s about showing them the road map to opening their own business. I’d also tell them that we provide more support than most franchise concepts out there, and that’s a real value-add for our franchisees.
Profile Nation: What else is on the horizon for Profile?
Malloy:Innovation. We’ve got some game-changers on the way; things that will really make a difference for our members. We’re working on integrating genetics into our coaching platform. We have new food options in the pipeline. We’re investing in new technology. We’re going to share more details on all of those things this September, at our first-ever convention. Stay tuned.
Profile Nation: Seems like Profile is turning a corner. What’s been the key to your growth?
Malloy:We’re in the relationship business, and that’s just another way of saying we’re in the people business. The key is the people we hire to be a part of Team Profile. We’re letting them know that they are in on the ground floor of something special. Right now, we’re hiring people who will become the future leaders of the company. The people side of our business – recognizing, developing and empowering our employees – continues to get stronger as we grow.