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Tag archive for fitness business

Resolutions for Action

What your fitness business should do in 2022. At first glance you might think that I've already covered this topic for the year. But this is a little different; it's intended to be a straightforward list of resolutions for the New Year. I want to make this a post about looking forward and in the last post on making plans there was a lot of content that I left out simply because there was too much good stuff for one post to cover. So, this is a list of what a fitness business should resolve to do in the New [...]

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The Gift Of Membership And Other Gift Card Things

There are lots of interesting ways to do promotions. Once again, with the holidays upon us, I think it's time to take another look. One of the most accessible is selling gift cards as part of your retail operation. Even if it means just a desktop display at your reception you can boost your return on investment by offering this popular, high margin product to your membership and the general public. Promotions With Gift Cards Sell gift cards in your gymSell gift cards at the local sporting goods storeDistribute them through your trainers There is a reason that you see [...]

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Can Your Gym Be Profitable Quickly? Yes!

Every gym owner intends to run a profitable health club, but reaching that goal can feel impossible. There are, however, small effective steps you can take today to position your studio for a stronger, healthier future. These good habits start by conducting a line-by-line review of every expense and considering new ways to run an old business. Accountants and business analysts recommend printing out a 12-month profit-and-loss statement twice a year (or even quarterly) in order to accurately appraise every company expenditure. Although such effort sounds tedious, watching every penny is the only way to ensure you’re not wasting money. As [...]

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How to Make Money Owning a 24-hour Gym

Don Roberts’ Fit 24/7 Gym keeps things simple. His gym does not boast a sauna, day care, or exercise classes. Customers know to follow the rules or get kicked out. And his club is open every day, 24 hours a day, frequently without a single employee on premise.  Stripped bare of any extras and run entirely by himself, his 550-member facility in Durango, Colorado, has been profitable — very profitable, he insists — from day one. The key to making money is minimal expenses and 24 hour access. The advantage of 24-hour gyms  In a time when nearly 20 percent of gyms closed permanently [...]

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How to Start Training Kids at Your Gym

You’ve probably thought about opening your gym to youth athletes. After all, it’s big business in the United States. About 60 million children play in organized sports every year. And, for better or worse, many parents see their kids' talent as a ticket to college scholarships. With that in mind, creating a program targeted at tween and teen athletes may be a great way to build a base of new customers and make up for billing lost to the pandemic. Selling sports specific training to parents First, make sure new members know about your services. When going through a price presentation, [...]

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Facing Down Negative Social Media

With all this coronavirus negativity lurking, just how likely is it an irate member will unleash online over a small incident at your club? Right. So you need to be ready for negative social media. How can you do that? First, put a good plan in place before a problem arises. Create a clear social media policy for your employees. In the simplest terms, a social media policy is a guideline for how everyone should conduct themselves online. Here’s a good template and guide. Establish a gym photography policy. Many larger national gyms have a “no photo” and “no video” policy. And while there’s no keeping phones out of [...]

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Success or Failure

Top 10 Reasons Why New Gyms Fail

If you have opened a new gym, you must know that it is, after all, a new business. So you should be prepared to run and develop that business as a business. To do so, you must acquire knowledge about the fitness business industry, and also be aware of the pitfalls of why new gyms fail so you can be sure to avoid them. In my opinion, here are the top 10 reasons why new gyms fail... #1 - No proper business plan No business plan can be fatal to your new gym. Before starting a gym know: Successful gyms watch finances, [...]

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Gym Networking Online

Best Fitness Business Owner Forums

Best Fitness Business Owner Forums Networking through the Internet has opened a whole new world for those in the fitness industry – from gym operators to personal instructors. It enables you to reach out to potential clients and effectively address your target audience. However, there aren’t many social networking sites for gym owners, connecting one fitness business owner to another. People looking to maintain their physique can easily reach out to their peers through social communities, but what about those looking for peer support in building their fitness brand image? You may be wondering why you should communicate with your fellow [...]

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Getting Through the Slow Season

Everyone in the fitness industry knows about the dreaded slow season. The hot months of summer, June through August in the United States, are notorious for low client participation and a dearth of new memberships. How can you weather the heat and keep your gym running smoothly even during the slowest of summers? Plan Ahead For The Seasonal Dip The good news about the slow season is that it's widely known and accepted, so you can anticipate it. Don't let June's lack of client engagement take you by surprise. Plan your year ahead of time, from your annual budget to [...]

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Fitness Business Success is All About Measuring Improvements

Management Metrics and Where You Find Them Like fitness programming, gym business management is about setting goals and defining improvements. It's how you measure them that provides the framework to get the work done. You can't know what you've achieved until you've measured it. Whether it's measured in lean body mass, inches of muscle, or maximum deadlift weight, measurement tells you how much progress you've achieved relative to your workout goals. It's the same for business goals. If you want a leaner company, better sales performance, or higher rates of retention, you measure your actions to hit your targets. The [...]

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Fitness Business Lessons from Comics and Comedy Clubs

Of Belly Laughs and Leg Lifts I was listening to some comedians talking on a podcast recently. It seems to be a thing in comedy for comics to interview their friends and idols. However, I was struck by the similarities between owning a gym and running a comedy club. The fitness and entertainment professions both appeal to the general public as markets. They each bring in people to participate in some sort of experience. Although, they do it in different ways, perhaps. The Changing Culture of Comedy Lately, comedy clubs are growing in popularity and revenue. The number of would-be [...]

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Is There Such A Thing As A Few Hours A Week Fitness Business?

The Short Answer Is Still "No!" That guy who wrote a book about having a business in only X hours per week now has a book out about fitness. OK, that's nice. So, completely separate from that, what I'm wondering, is whether there can be a gym business that you can run on half a workday per week? I've gotta say, I'm skeptical about the whole short-time easy-money approach to anything. If you're already the owner of a small fitness club, just the title probably made you roll your eyes, right? I'd bet dollars to doughnuts that anyone who follows [...]

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Hey Fitness Business Owner What’s In Your Gym Bag?

So, What's in Your Gym Business Bag? If you're like most people, your personal gym bag carries a bundle of practical and commonsense workout items. These things express your personality, values, and workout intentions. However, the contents of your gym bag also hint at hidden opportunities to fine-tune the business model of your fitness club. For an insight into what your ideal customers want, look into your own gym bag and apply the lessons to your customers and your business model. Most likely it includes the usual gym clothes and shoes, towels, and personal items. Perhaps you have weightlifting gloves [...]

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7 Fitness Industry Hacks for Aspiring Gym Owners

There's not much that a little creative ingenuity can't overcome. The fitness industry is one where you can get a start with or without vast sums of capital to invest. While it might seem easier to do with truckloads of financial backing, there are plenty of things you can do to get started or at least boost your business to the next level. 1. Be The Expert Focus on what you do best. That thing that you're most confident about and for which you have the most experience, this is what management gurus call your core competence. The knowledge that [...]

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Measure Your Fitness Business Potential With Total Addressable Market

I have spent a lot of time talking about marketing on the Gym Insight Blog. As part of that effort, I'd like to mention a metric that can give you the big picture. It can be a real insight into the potential scope for expanding your gym or small fitness studio. The metric in question is the Total Addressable Market (TAM), which is the number of people who qualify as customers within reach of your business. This number indicates how much your fitness enterprise could earn if it did earn everything there is to earn, as it were. Finding Your [...]

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