Because my gym has been doing well recently, I've been forced to analyze all my financials. I say this because I had been solely relying on the competence of my bookkeepers for the past couple of years, blindly thinking that they would do a good job. I was so wrong! The past few weeks, I have been scrambling to brush up on basic accounting principals in order to answer basic questions that are not clearly defined by the books. That means I am completely redoing everything that the bookkeeper did (or in my opinion, did not do). The Jerry Seinfeld [...]
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It seems like lately I can't help but notice that workout spaces have been popping up with the name CrossFit displayed in bold letters across the front of the building. Gyms that offer this new workout system have been spreading like wildfire. Because it's such a mixed and intense way of working out, CrossFit licensees, or affiliates as the brand calls them, need to be expert at fitness, personal training and injury prevention. It appears to present a huge opportunity for trainers to become owners. However, the question remains: Is it a true fitness trend or is it a fad [...]
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A while back I wrote an article about the ten reasons new gyms fail. It was well received by the readers of Gym Insight and the discussion was very gratifying for me. But as a believer in fitness and getting results in a positive way I feel compelled to balance it out with an article about the positive side of gym startups and success. I admit that there is likely plenty of overlap between this and the previous article. These things are worth saying over and over again and doing more reps never hurt anybody. Arm Yourself With The Most [...]
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I recently posted a blog about statistics in the fitness business. I really only just scratched the surface with that one. In this blog post I want to address a few things that I had to leave out, and tie up loose ends. It's always good to know where the next generation of competition could come from. I tend to think the source of competition to watch is self-employed trainers building followings through social media and then establishing studios once they have enough of a revenue flow. Also there were some statistics that relate the demographics of the industry to [...]
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Limber up your jargon muscles and stretch out your vocal cords! We're talking gym management and fitness center business vocabulary again! It's been a while since I wrote about jargon in the gym business. So I think it is time to review some more of the terms that you need to use and know to understand gym professionals, in reference to the business and the activities that support it. Gym Insight has posted articles written about this before but I think it's an important topic and there are some terms that need to be added to the original list. There [...]
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Turbocharge Your Income With Gym Guest Passes There are many different ways to increase your gym's revenue. Let's focus on how you can use gym guest passes to increase your income, in the way a turbocharger boosts the horsepower of a small car engine. Of course, your own particular approach to this strategy will be strongly influenced by the unique layout of your local racetrack. So, here are two different approaches to gym guest passes, for very different local markets. Gym Guest Passes To Bring In New Members The best and most consistent form of income to keep a gym [...]
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New gym owners come to the business with many different levels of expectations. It depends on things like their previous experiences in management, small business ownership, gym operations and leadership, to name but a few. The one thing that consistently catches new owners off guard and causes much stress is how many routine, repetitive tasks need to be handled on a daily basis. In theory you just sign up new members and they give you a payment each month, so you build up a nice little stream of revenue to enjoy. Well, it sounds a little fanciful when I put [...]
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The concept of experience marketing is generating a lot of buzz among business consultants and academic thinkers right now. It encapsulates the emotional and subjective associations that come with using a product or taking part in a service. It is how your members feel about how they get along at your gym. It is all of the subjective associations and emotions they have relating to everything from the hygiene levels to the staff's attitude and the results members get from their workouts. A State Of (The Customer's) Mind As long as members are happy enough to keep coming back, whether [...]
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Digital Media Puts a Human Face On Business Here's an ironic fact: Digital media can actually add a human touch to your gym! In this day and age it's absolutely imperative that, as a business owner, you take full advantage of the low-cost high-impact resources that you can find online, in social media, blogging and video blogging. If you're a bit more ambitious, even podcasting can be a great way to promote your gym. The subject of social media is vast and rapidly changing. I'm just going to put this out there as an idea. It's just a quick overview, [...]
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These days it's almost impossible to avoid the online community and customer feedback. Think of that as a good thing! Make the effort to be aware of reviews of your gym or studio and be prepared to respond. The secret is first knowing where to seek them out and then responding to them, before you find yourself digitally tarred and feathered. Of course some of what you get is going to be positive. However in business it's almost impossible to do anything that provides a customer experience that's universally loved. Misunderstandings and miscommunications can occur even in ideal conditions. Just [...]
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Maybe you've heard about how retail giant Target had a huge data breach in 2013. If you were exceptionally unfortunate, you know about it because of fraudulent activity somewhere in your personal credit profile. As a gym owner it may be hitting you particularly hard by interfering with your monthly membership revenue. In response you have to chase after payments and update card numbers on a scale that is putting a lot of pressure on you, your managers and your bottom line. The Target Scandal So, what happened to Target? The short answer is that they had something like 70 [...]
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If you don't yet have a social media presence for your gym, you really should start now. Your business might have a passionate and active membership out there on Facebook or Twitter, just waiting to engage through social media as a community. Of course, that's the holy grail of social media in business; you want to use social to drive your business. Realistically, you're probably going to have to work at it a bit but once it picks up momentum it'll be much easier than doing promotion all by yourself. Your gym has a community of members and employees. People [...]
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The Memorial Day Weekend is approaching as I write this and I am reminded that those who served our country are among the most deserving of our support. When it comes to charity donations gym and fitness center owners can make a great contribution by including marketing promotions that give back. I have a bias toward giving to veterans' causes and I make no apologies for it. There's a vast amount of need because, as a country, we've been asking so much of so many for so long now. It also troubles me to hear of the delays and shortcomings [...]
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Leadership has an element of theater and what are we as gym and fitness center owners if not leaders? Personally, I got into the gym ownership business out of an urge to follow my passion. I had a burning desire to make a positive impact and make a living doing something that shares that passion with other people. All of the trainers that I've worked with over the years also appear to have been just as determined, as far as I can tell. I think that you really only get into a career in fitness to make a positive statement [...]
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Did you ever hear the old story about two shoe salesmen who were sent by their employers to one of the poorer countries of the world? The first rep sent back a telegram that said "No good here. Coming home. Nobody wears shoes." The other one also sent back a telegram: "Great opportunity here! Send shoes! Nobody wears shoes!" That ringing phone in the back office or at the front desk can be so annoying. But you have to remember that the phone is at the heart of your business. If you want that heart to keep beating for a [...]
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