As a fitness business, strategically incorporating multiple revenue streams is the best way to create a solid foundation for financial success.
Hosting member and community events are often overlooked as an income source despite having multiple retention, lead gen, and marketing benefits.
As I’ve prepared to open my second yoga studio, I’ve spent an enormous amount of time in local business networking events. This blog post is not as much about the hard skills of business ownership, per se.
Rather, this is about a topic I feel can truly impact all of the other dimensions of studio business success: addressing owner stress, fatigue, and potential burnout.
Generating leads is a vital part of growing your business. I’ve shared some of the techniques I use to generate leads in previous blog posts. However, generating leads alone will not bring you financial success – you must have a solid system in place to convert those leads into regular paying clients.
The goal for most training gyms should be to generate 30-40 leads each month and then convert 20 of those leads into paid trials each month.
Thank you to David Matthews for taking the time to answer some questions from AFS!
In this featured spot, David shares some key information about how going green with SportsArt equipment has taken their business to the next level.
When I first started my career in fitness, it was for very practical reasons. I needed more money as an adjunct professor (many don’t realize adjunct professors work without health insurance and often earn poverty-level wages).
I was always interested in fitness, and I felt working with something: 1. I already knew about, 2. I spent time doing, and 3. would hold me accountable to my fitness goals would be a good idea. I was right, but it - meaning the work - wasn’t always good for me.
The latest technology offers the information and detail your members and cients thirst for. It keeps them interested, motivated and on track. But it also gives you, the provider, a starting point for a conversation. Your member can fudge their food journal, but a breath acetone measurement is a lie detector.
As you grow your membership strategically think about how you will give your members the information that will help them succeed.
How many hours a week are you spending in your business on things you'd rather not do? How much time are you spending on managing people and dealing with finances? Are you thinking, "I'd like to cut the time I spend on these things but I can't. This is how it's done."
This is far from the truth and there is a better way. The fundamental factor is creating alignment among all the parts in your business.
Savvy studio owners might know that the Baby Boomer fitness market represents a massive opportunity for their businesses. You should also know that studios represent the best opportunity for millions of mature adults who want to get or stay fit.
It’s an ideal marriage, with millions of dollars in revenue waiting for fitness studios that a) are ready and b) make sure people over 50 know it.
In my almost three decades of helping clubs and studios obtain new leads, the same recurring comment comes up every day “I need more members”. But getting you new leads is easy. My question is what are you doing with them once you get them? Do you have a real sales system in place?
Many times it comes down to knowing how to identify them and work them properly.
Developing a unique program that is exclusively yours can really give you a leg up on your competitors.
Clients are looking for an experience that will deliver several key elements: A well organized program, peer support, quality customer service, great value, and optimal results.
• Trainer, Manager or Owner • Beginner or Veteran • 500-10,000 sq.ft.