Do you only trade dollars for hours worked? Geralyn Coopersmith of Coopersmith Consulting LLC, recently was quoted in Club Industry’s 2019 report stating, “almost every trainer needs to have some other ancillary revenue stream where they are not trading time for money.”
The information age and evolution of the internet has allowed many people to make a living more passively.
Despite the potential revenue that can be generated from secondary spend on products such as personal training, vending, supplements, merchandise and specialist classes, most clubs, and studios fall short of maximizing the opportunity.
The selection of good gym management software is a critical part of setting up your club, but for most owners, acquiring the right software can be an enormous pain point.
You can search the internet, go to the software recommendation sites and ask other clubs, but getting the program that specifically works for you can be a nightmare...unless you know what you are looking for and what features you require before you start.
One of the more difficult challenges of managing a fitness business is knowing the many available financial solutions out there and which ones are best for you and your business.
Obtaining the most optimal financing for your fitness business may result in thousands to tens of thousands of dollars in savings.
There is a ton of data about your business that you can track. With so much information available, how does a gym owner keep track of everything? The good news is you don’t have to. You can focus on a few types of metrics that offer good insight into the overall health of your business.
Here are the top three types of reporting metrics you should track at your gym.
Starting your own business often feels like you are fighting the good fight. C.S. Lewis referred to this as a difficult “transition from the dreaming aspiration to laborious doing.”
We are enchanted with the idea of owning our own businesses, but then must buckle down to really learn business and produce a viable result.
How are you using data to make useful changes to client habits? The single biggest mistake I see fitness experts make when it comes to technology is using the data to tell the past, not drive future wellness decisions.
Finance professionals have a great term for this, a sunk cost. A sunk cost is money that has already been spent and cannot be recovered.
Technology continues to break boundaries in the fitness industry, not just for the consumer but also for the studio operators and personal trainers running businesses in this competitive sector.
Despite the many benefits of taking a business online, some studios are still reliant on paper-based systems to deliver core member services, such as assessments and workout subscription.
If you’ve been keeping your finger on the pulse of recent marketing trends, you may have heard someone proclaim the death of email marketing. While the rumors of its demise may be greatly exaggerated, one thing is certainly true: if you’re limiting your channels of communication, you’re limiting engagement from leads.
More and more businesses are turning to texting as a way to improve conversion.
Increasing revenue is a constant business goal for every gym owner. When sales are slow, there are strategies that you can use to get your clients back in the buying mood.
One of those strategies is discounting your products and services.
• Trainer, Manager or Owner • Beginner or Veteran • 500-10,000 sq.ft.