Element created a multi-year relationship with Discover Strength, working as their tenant rep and implementing real estate strategies to complete a total of eight transactions throughout the twin cities: Woodbury, Plymouth, Chanhassen, St. Louis Park, Northeast Minneapolis, Downtown Minneapolis, Wayzata, and Maple Grove. Recently, Discover Strength embarked on a franchise growth strategy and Element (as preferred real estate services vendor) has assisted in this process. By creating a territory map for future franchise expansions, Element was able to execute renewals and find new locations for Discover Strength, supporting them throughout design and project management of new build outs.
In preparation for Discover Strength’s franchised growth strategy, Element worked closely with Discover Strength’s executive team to develop a Franchise Territory model, dividing the Twin Cities Metro market into 40 logical submarkets using zip codes as the base geography. Then using Discover Strength customer sales data, combined with detailed demographic and psychographic analysis and GIS (Geographic Information System) functionality, Element helped identify the top Discover Strength market areas. This analysis has allowed Discover Strength to review potential submarkets and provide insight into future location decisions.
These findings were used to determine Discover Strength’s best Tapestry Segmentation categories (ESRI Tapestry Segmentation database segments the United States population into 67 market segments and 14 summary groups which helps understand dominant “lifestyle” as well as “life stage” characteristics of a community). Additionally, the data allowed production of heat maps and the creation of primary and secondary trade area maps that allowed Element to develop drive time estimates to further codify the extent to which a Discover Strength client is willing to travel for Discover Strength services.
Discover Strength is a personalized strength training gym that offers 1-on-1, small group, and virtual trainings from educated, expert trainers. With 30–45-minute total body exercises, Discover Strength training sessions are backed by a scientific approach to safely and efficiently build muscle. The franchise now has eight current locations in the Minneapolis / St. Paul Metro. A Scottsdale, Arizona location marks the first location outside of Minnesota. The goal of Discover Strength and CEO Luke Carlson is to eventually open up 100 locations across the country.