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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If your gym is in a bad shape when it comes to revenue or profit, rule number one is - do not panic! Jumping the gun and rushing to Randy Couture does not have to be your first option. The positive side of allowing him to "rescue your gym" is that it certainly gives you a lot more publicity among fitness enthusiasts. However, that same publicity may tarnish the goodwill you have created with your present members. Here are some ways to save your own gym. 1) Analyze the Problem Make sure you first understand what is wrong before you [...]
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Health club owners often make use of limited budgets, especially when the doors first open. Limited cash flow is the primary reason why it is vital to account for every dollar that comes in and out of your health club business. When starting your health club business, you will be confronted with a mass amount of expenses including but not limited to renting or purchasing the actual facility, equipment purchase or leasing, hiring managers, hiring other staff and personal trainers, and of course management software to aide you in running your new business. At this stage, most likely, you will [...]
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