Why calculate revenue per square foot? 2 reasons: Here are two stats from AFS' industry-leading research that might shock you:
1. Top-producing studios generate $193 per square foot, but the average studio only generates $68.
2. The average studio has a client retention rate of 75%, so a 5% increase in retention can boost profits by 25% - 100%.
By Scott Hopson, Special AFS Contributor
Whether our members’ passion is tennis, fitness, mind body, or group exercise, they want to perform to their greatest potential. At Midtown Athletic Clubs we promise “to inspire you through movement, community, and personal attention.” Every decision we make serves this promise.
If you want to grow your business it’s no secret that you have to keep growing your skill set and that of your team. The skills that got you here will not get you there! It is imperative that we keep learning and progressing as businesses really have only 2 fates - they grow or they die.
When you think about your fitness business there are ample opportunities to keep learning.
Social media has made it easier than ever to build an active, engaged audience as a fitness professional. However, many fitness studio owners aren’t leveraging social media to get new clients and position themselves in their local market.
Don’t shy away from this powerful marketing tool!
For most of us, fitness is more than a process to a healthy body; it’s also a social experience.
What’s better than ‘commiserating’ with your fitness buddies after a gritty workout? As a studio owner, you can create social events that encourage camaraderie amongst clients and staff.
Being a Canadian who finished high school in San Diego, California, did undergrad studies in Miami, Florida and Portland, Oregon, then worked in Austria, Germany and Hong Kong for five years before returning to the USA to receive my Masters in International Business, I learned early on about technology and trend transfer internationally.
Setting the right price for fitness services is important to anyone in the business, from studio owners to independent fitness professionals.
Curating a price list of services can be a delicate balancing act between what your services are worth, where they are being offered, and what is being offered by your competitors. Below are a few tips to consider when crafting a price list for fitness services.
Some website visitors convert and others don't. But why? And what can we do to increase the number of website visitors that take action on our site so we can have more personal training clients?
Your website can be a great tool for generating revenue. And with a few adjustments that align with the psychology behind what makes visitors convert, your website can be one of your greatest assets.
Many fitness studio owners make their first hire out of desperation. The stress piles up, you’re on the edge of burnout and you hire someone to take some of the stuff off your plate that you hate doing. Ultimately, the new hire doesn’t work out and you’re right back to where you started.
So, how do you avoid the hiring mistakes made by nearly every business owner and bring on a team member that will allow you to grow your business without causing you more stress and frustration?
Let’s talk TEAM. It’s actually one of the most overused buzzwords in business. Everyone talks team dynamics, team engagement, team building, the secrets of building a great team…etc. Now, please don’t get me wrong; I’m a huge fan of the concept!
I have been blessed to say I’ve been part of some incredibly dynamic and successful teams throughout my career. I simply love being part of the team.
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• Trainer, Manager or Owner • Beginner or Veteran • 500-10,000 sq.ft.
