In this episode, host Pete Moore sits down with Dario Miceli, the passionate founder of Padel Magazine, to explore the explosive growth and unique challenges of padel, one of the world's fastest-rising racket sports. Dario shares his career path from real estate investor to becoming the unlikely publisher of a global magazine, revealing what makes padel so addictive, how it's carving its own unconventional path in the U.S., and why the current market still feels like the Wild West.

From navigating linguistic debates (is it "padel" or "paddle"?), to the complexities of building courts, sourcing coaches, and attracting capital, Dario delivers an insider's perspective. He unpacks the differences between padel, pickleball, and tennis, the need for innovation in business models, and how communities in places like Spain can serve as a benchmark for what's possible.

Whether you're a fitness executive, an investor, or simply curious about what's next in the HALO sector, this conversation offers valuable insights on seizing opportunities in an industry at the very beginning of its American ascent.

On padel's cultural phenomenon, Dario states, "You have housing developments that instead of having a pool in the middle, they have padel courts with grills around them. People want to raise their kids around this sport."

Key themes discussed

• Growth and adoption barriers of padel in the U.S.
• Lack of standardized business models for padel facilities
• Institutional capital vs. private investment in padel
• Comparison of padel to pickleball and tennis
• Spectator appeal and media presence of padel
• Coaching shortages and challenges for talent development
• Community-building and entrepreneurial ecosystem in padel

A Few Key Takeaways

1.Padel in the U.S. Is the New "Wild West": The American padel market is in a raw, unstructured phase with no set blueprint, governing body, or proven business model. This creates both uncertainty and a prime opportunity for innovation, collaboration, and new entrants looking to shape the industry's direction 05:15.

2. Barriers to Scale Differ From Pickleball: Unlike pickleball, which has low costs and minimal barriers to entry, building a padel facility is costly and complex, often ranging from $30,000 to $70,000 per court, requiring municipal approvals, engineering, and expertise to build properly. These higher hurdles explain why institutional capital has not yet flowed into padel at the same pace, though private and venture investors are starting to show interest 07:09.

3. No Proven Facility Model . . . Yet: There's no consensus on the best facility model for padel. Operators are experimenting: some go premium with club-like amenities, others take a stripped-down approach by placing courts in urban spaces with minimal services. Ancillary income from food & beverage, social spaces, and wellness amenities are believed to be important, but no one model has emerged as consistently successful 16:01.

4. Lack of Coaches Is a Major Growth Bottleneck: One of the biggest constraints to padel's U.S. growth is the acute shortage of qualified coaches. Most have to be imported, which raises costs and complexity. There's an emerging focus on converting athletes from other racket sports, but true domestic, homegrown coaching talent will take years to develop 18:16.

5. Ecosystem Building Trumps KPIs at This Stage: For leaders like Dario, success is about catalyzing an ecosystem—getting more people passionate about padel, inspiring entrepreneurs and innovators to build complementary businesses, and spreading awareness. Traditional business metrics take a backseat to community creation and sport evangelism at this early stage 22:11.

Resources:

• Dario Miceli: https://www.linkedin.com/in/dario-miceli-padel-magazine
• Padel Magazine: https://www.readpadelmag.com
• Integrity Square: https://www.integritysq.com
• Prospect Wizard: https://www.theprospectwizard.com
• Promotion Vault: https://www.promotionvault.com
• HigherDose: https://www.higherdose.com

Welcome to HALO Talks, where host Pete Moore sits down with Rich Drengberg, CEO of EoS Fitness and a seasoned leader in the fitness industry. In a rare podcast appearance, Rich shares his journey from Gold's Gym SoCal to transforming EoS into a powerhouse of high-value, low-price gyms across the Sunbelt. Listeners will get an inside look at EoS's disciplined growth, the importance of industry relationships, lessons from private equity partnerships, and why knowing your brand's identity is crucial, straight from someone who's helped steer one of the fastest-growing health club chains in the country.

Whether you're an operator, investor, or fitness enthusiast, this episode offers invaluable insights on building teams, scaling strategically, and staying ahead in a competitive landscape.

Regarding chosing the right partner when looking to sell, Rich states, "We were in a great situation when we went to market that we didn't have to sell, and we were able to kind of pick who we wanted to partner with. And it was an interview process both ways. And because of that, we were able to have our cake and eat it too."

Key themes discussed

• Transition from Gold's Gym to EoS
• Strategic and disciplined growth decisions
• Importance of experienced teams and industry relationships
• Private equity influence and operational mindset shift
• Real estate strategy and anchor tenant positioning
• Staying true to brand identity amidst trends
• Partner selection and aligning with TSG for expansion

A Few Key Takeaways

1. The Power of Sticking to a Clear Identity: Staying true to the company's vision and brand identity was emphasized as vital for long-term success. EoS avoided "chasing every trend" and only adopted changes that matched their strategic direction, which helped them avoid diluting their brand and losing their core audience 25:23.

2. Disciplined, Focused Growth Strategies: EoS's growth was marked by a disciplined approach to new markets and acquisitions. Opportunities were critically evaluated, and only those fitting their model (right location, box size, and alignment with EoS values) were pursued. This sometimes meant saying "no" to enticing deals that didn't fit the vision 05:10.

3. Mentorship and Learning from Experience: Rich credited much of his development and EoS's success to mentors like Bob Giardina and Bruce Bruckman. Their guidance helped shift his mindset from operating a handful of gyms to building a scalable platform, and highlighted the importance of focusing on real estate and bigger picture growth rather than getting bogged down in minor operational optimizations 12:29.

4. Building Relationships is Key to Expansion: Entering new markets and securing prime real estate depended heavily on building trust and relationships with landlords, developers, and REITs. Early on, EoS was not the first choice for many landlords, but through perseverance and relationship-building, they became a preferred anchor tenant 15:28.

5. Industry Know-How Over Outsider Expertise: The episode stressed that having a team with deep industry experience ("gym rats" as described) was critical. EoS's management came from fitness, not coffee chains or hardware stores, enabling them to make better, faster decisions pertinent to the unique demands of the fitness business 17:26.

• Rich Drengberg: https://www.linkedin.com/in/rich-drengberg-5923046/
• EoS Fitness: https://www.eosfitness.com
• Journey To A Billion Dollar Deal-2 Minute Financial Drill: https://www.youtube.com/watch?v=CQtaGUQIyxY
• Integrity Square: https://www.integritysq.com
• Prospect Wizard: https://www.theprospectwizard.com
• Promotion Vault: https://www.promotionvault.com
• HigherDose: https://www.higherdose.com

In this episode, we sit down with Joe Pepe Jr., CEO of IGNITE Fitness Holdings, one of the largest Planet Fitness area developers and a second-generation leader in the health club industry. Born into a family deeply rooted in fitness entrepreneurship, with his father tracing back to the industry's early days, Joe shares his path evolving from a family-owned gym business to building one of the most successful Planet Fitness franchises in the country.

Pete and Joe also touch on how early risk-taking, embracing disruptive business models, and leveraging private equity fueled explosive growth from just a handful of clubs in Connecticut to over 100 locations across the U.S. and Canada. Joe also discusses the importance of company culture, strategies for scaling teams, the role of marketing, and the impact of industry partnerships, along with a look ahead at opportunities in acquisitions and market development.

On the topic of 'front desk to leadership' and the importance of investing in people, Pepe states, "There are so many stories of people that came in as a minimum wage, front desk worker and now have progressed three, four, five layers on. It's great to see, brings you a lot of joy to see people develop that are truly bought in and enjoy being part of something bigger."

Key themes discussed

• Family legacy in health club industry
• Early adoption of Planet Fitness model
• Transition to private equity ownership
• Franchisee network's role in best practices
• Marketing strategies for continuous growth
• Building and developing internal talent
• Expansion through acquisitions and greenfield development

A Few Key Takeaways

1. Legacy and Early Adoption of Planet Fitness: Joe shared how his family were early movers in the Planet Fitness brand, converting legacy clubs into some of the first Planet locations in the early 2000's. Their willingness to switch from big-box gyms like World Gym and Gold's Gym to the Planet Fitness model positioned them as pioneers and benefitted from the new brand's explosive growth.

2. Scaling with Private Equity: He described the pivotal shift from a family-run operation to a private equity-backed enterprise. Bringing on investors enabled them to accelerate growth, hire specialized talent, and reach over 100 locations through both acquisitions and new builds, something not possible without significant capital and operational rigor.

3. Power of the Franchisee Network: This episode also highlighted how valuable the Planet Fitness franchisee network is for knowledge sharing and best practices. Regular meetings, councils, and conferences foster collaboration and have been instrumental for operators like Pepe to learn, share, and refine their approaches.

4. Continuous Investment in Marketing: A key component of Planet Fitness's success is relentless, ongoing marketing at both national and local levels. Planet does not throttle back on ad spending after grand openings, but instead works year-round to attract first-time gym goers and continue fueling growth, maintaining brand visibility and saturation.

5. Growth through M&A and Internal Talent Development: Joe discussed the increasing opportunities in acquiring independent gyms and legacy operators as a growth channel, emphasizing respectful integration and understanding of sellers' perspectives. Additionally, internal development and promotion, from front-desk to leadership, remain core values, creating a culture of advancement and loyalty.

• Joe Pepe Jr: https://www.linkedin.com/in/joepepe
• IGNITE Fitness Holdings: https://www.ignitefh.com/
• Planet Fitness: https://www.planetfitness.com
• Integrity Square: https://www.integritysq.com
• Prospect Wizard: https://www.theprospectwizard.com
• Promotion Vault: https://www.promotionvault.com
• HigherDose: https://www.higherdose.com