Nate Malloy: “We’ve Got Momentum.”
Editors Note: This is the first article in the Profile Next Generation Leaders series. First up is Nate Malloy, Vice President of Profile by Sanford, discussing Profile's continued growth. Catch Nate's interview below or read more about how Profile earned a spot on Entrepreneur Magazine's Top New Franchise list.
Things are moving fast at Profile by Sanford, and no one knows that better than Nate Malloy. The company’s 39-year-old Vice President has been at the helm of Profile for more than four years. The company has grown rapidly during that time and is set to open its 30th retail location in July.
Today, Profile is entering scale-up mode. Malloy says the number of Profile locations will double in the next 18 to 36 months, and that’s only counting the stores he says he’s “sure” on.
We caught up with Malloy the first week in May. The company had just earned a spot in Entrepreneur Magazine’s Top New Franchise list, so we talked with him about the company’s direction on franchising.
Profile Nation: We always start with the same question. What is on your mind right now?
Malloy: Franchising. We’ve got momentum on our side, but most of our focus leads back to being able to scale our lifestyle change coaching model. We think we’re ahead of the market here because we have the personal touch that gets people results. Our nutrition, activity and lifestyle coaches are the key component to executing our mission to Change Lives, One Relationship at a time.
Profile Nation: What’s ahead for Profile?
Malloy: Growth. We’re on track for another great fiscal year as we wrap up our fourth quarter in June. We’ll probably finish with 22 percent revenue growth year-over-year. All our revenue goes back into keeping Profile affordable and making it more widely available, and we know we’re going to grow pretty quickly again. People might not know that we got to 30 locations really, really fast. It took Starbucks 17 years to get to 30 and Profile’s just wrapping up year number four. Now, with franchising taking off, we think we’ll grow as fast as we can train managers to run our stores.
Profile Nation: Local store management is critical to success for franchises, isn’t it? What are you doing to prepare?
Malloy: We’re getting out ahead of it. We launched a manager in training program this year and we already have 10 future store leaders moving through our pipeline. We’re training them to be great coaches, to know the business side, and to really understand what makes Profile unique.
Profile Nation: What’s your big goal? What is Profile trying to accomplish?
Malloy: To me, it’s about getting to that 1 Million Lives Changed mark as quick as possible. It’s a real goal for us – for our team internally – to have that kind of impact. We’re doing everything we can to give people the solution to yo-yo weight loss. We can do that in our retail locations, or through Profile Anywhere, our phone-based coaching service.
Profile Nation: Last question. Is there anything you want to say to Profile nation?
Malloy: Wow, that’s a big question. There’s a lot I want to say. It’s going to be hard to narrow it down. It’s easy to start with a thank you. So, thanks for being a member, and for trusting us enough to help you make healthy lifestyle changes. Next, I’d say that if you know anyone who is interested in joining our cause – either as a member, employee or a franchisee – just get them in touch with Profile. We’ll take it from there.
About Nate Malloy
Nate Malloy is Vice President of Profile by Sanford. He is at the top of the chain at Team Profile, but gives his people the room to do what they do well. He’s shooting to run 3 half marathons this year. He’s a 4 handicap, and putts around the office when he needs to think something through. When we asked him his personal best, he quickly said raising his three kids is the best thing he’s ever done.