On this episode of HALO Talks, we welcome Nick Ovenden of GreatLIFE, an organization that has redefined community recreation in the Sioux Falls, South Dakota area. What began as a sort of "accidental" golf course acquisition has evolved into a network of six golf courses, 19 fitness centers, and a bowling alley, serving over 40,000 members within a 90-mile radius. Nick joins us to discuss the unique business model that blends fitness, golf, and family activities under one membership, fostering inclusivity and long-term member engagement.

Pete and Nick also dive into how their employee stock ownership plan (ESOP) is shaping company culture and succession planning, the impact of combining recreational offerings on attrition, and GreatLIFE'S commitment to building community through partnerships and transparency.

When it comes to the recovery trends that were brought up in discussion, Nick states, "If you have not gotten on the workout recovery train yet, your time and your stop is now. You got to get these products in there before these workout recovery and spas end up saturating your market."

Key themes discussed

• Combining golf, fitness, and bowling for family experiences
• Membership structure: simplicity and inclusivity
• Community partnerships and local business integration
• Reducing attrition through varied activity options
• Transparency in financials and business education
• Board-driven decision-making post-ESOP transition

A Few Key Takeaways

1.Unique Multi-Activity Membership Model: GreatLIFE combines golf courses, fitness centers, and a bowling alley under a single membership structure. Members can choose between single, couple, or family plans and select either a Fitness Plus or Golf and Fitness Plus membership, aiming to keep things simple and all-encompassing. This approach fosters a stronger sense of community and encourages member retention by offering a broad range of activities for various interests and life stages.

2. Intentional Face-to-Face Member Onboarding: The organization has deliberately chosen not to use online sign-ups. Instead, all memberships are started in person to ensure that team members can fully explain their offerings and guide new members to the option best suited to their needs. This helps reduce attrition by keeping members engaged with new activities as their interests change. 09:04.

3. Low Attrition Rates Driven by Diverse Offerings: With multiple activities available like fitness, golf, pickleball, bowling, and group classes, members are less likely to leave since there is always something appealing. As a result, their annual member attrition rate is relatively low (about 30%), and staff turnover is also below industry averages 09:45.

4. Community Over Competition: GreatLIFE maintains close, non-competitive relationships with other local golf courses and fitness entities. Rather than trying to compete directly, they work together and even refer potential members elsewhere if their own services do not match a visitor's needs. This bolsters the overall community and reputation, benefiting everyone. 07:16.

5. Employee Stock Ownership Plan (ESOP) as a Succession Strategy: A key differentiator is the adoption of an ESOP for succession planning. This structure allows employees to gradually gain ownership stakes in the company, fostering long-term commitment and a sense of shared responsibility. The move also helps preserve the company's culture, aligning incentives and making employees more invested in the company's success. 10:55

Resources:

• Nick Ovenden: https://www.linkedin.com/in/nick-ovenden-8b047349
• GreatLIFE Golf & Fitness: https://joingreatlife.com
• Integrity Square: https://www.integritysq.com
• Prospect Wizard: https://www.theprospectwizard.com
• Promotion Vault: https://www.promotionvault.com
• HigherDose: https://www.higherdose.com