Thank you to Ricky Buoncore, the Co-Owner of Vedas Fitness in Cleveland, Ohio for taking the time to answer some questions from AFS!
In this featured spot, Ricky shares additional information about how going green with SportsArt equipment has taken their business to the next level.
The most common financing option available for studios and gyms using fitness equipment leasing is a capital lease. The main purpose of a capital lease is to finance the fitness equipment purchase while preserving the owner’s working capital.
You can finance the purchase of their proprietary equipment, security systems, computer hardware & software, flooring, outdoor signage and other tangible items needed to run the business using a fitness equipment lease.
In the Fitness Industry, August has earned the reputation of being a lazy month. It’s a time when clients struggle more than ever to get inside the studios they belong to. Summer weather is precious and filled with distractions, which end up leaving studios empty like at no other time during the year.
You are encouraged to make the most of it. The time is now to wrap up your mid-year business analysis and use the results in your Q4 Marketing plan. Take advantage of this fleeting quiet and get to work preparing for the rest of this year.
Your website is your most important marketing tool. There are individuals in your area actively searching online for the fitness services you offer - and your website is where they’ll decide if your programs are a fit for what they need.
To prove that you are the right fit it is vital that the homepage of your website speaks to viewers in a way that will influence them to convert.
Thank you to Paul Christopher, the Founder of Gravity + Oxygen Fitness in Boca Raton, FL and Joe Drake, Co-owner for taking the time to answer some questions from AFS!
In this featured spot, Paul and Joe share additional information about how their studio has become a cornerstone in their community.
The health/fitness club business is a people-intensive industry. The average facility under 20,000 square feet (the majority of fitness studios) employs five full-time staff and six part-time staff with a payroll equivalent to 42% of revenue.
This points out the critical importance of staff to create and sustain the experiences that clients and members expect, and to highlight the fact that with this reliance on staff to deliver our offering comes a reasonably hefty price tag; a cost that typically consumes 40% to 50% of revenue.
You did it, you have scored your first corporate wellness meeting! You are pumped, Job Well Done! Now you have nervous jitters about what you should do to prepare, what you should present, and how you will “win the contract”. Allow me to offer a few important tips that will get you off to a great start!
It is important that you know and practice the "3 P's" to effectively represent your BRAND at a business meeting.
For 10 years I volunteered as a coach for my son’s youth sports teams. I coached his baseball and football teams from kindergarten until he went off to high school last year. It was a big commitment, but an invaluable use of my time!
Not only did I get to spend quality time with my son but I made many lifetime friends with the other dads in the program. A few of them were entrepreneurs like me and I think I was naturally more drawn to them. There is a group of us that gets together a couple times per week to play racquetball…at the one guy’s HOUSE!
We all prefer to be happy in our jobs. Nobody likes disgruntled or disruptive employees, including the employee themselves, since few people want to be “that guy.”
Obviously, the best way to avoid problems with employee conduct is to hire well by making cultural and behavioral expectations clear at the outset. Your culture and your vision represent your brand, and thus, your business.
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%.
• Trainer, Manager or Owner • Beginner or Veteran • 500-10,000 sq.ft.