fitness business

Tag archive for fitness business

Minimizing Membership Impact During Club Updates

As the proud owner of an independent fitness business you may be enthusiastic about keeping the decorations and equipment right up to date. That is, until you see the price tag and the amount of disruption. If you are caught unprepared the first time that you attempt an update you might even be forgiven for thinking: never again! Finding The Balance There is definitely a balance to be struck in maintaining your gym and keeping costs and disruption to an absolute minimum. That balance point is when you start to get complaints about the condition of your gym versus the [...]

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Fitness Lessons For The Fitness Business

Working in the fitness business is a really rewarding way to make a living, as many of the readers of Gym Insight Blog know from personal experience. There are some great lessons from training and working out that apply well to the practice of small business ownership. What follows here are some lessons from fitness, applied to the business of fitness, which I have picked up along the way that I want to pass on as thoughts to share, food for thought if you will. Step Outside Your Comfort Zone As trite as it sounds, no pain no gain. It [...]

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Crowdfunding For Gym Business Impact

Jumpstarting Your Gym Business With The JOBS Act For those of us who are not in finance it might come as a surprise that there has recently been a watershed moment in the history of business investment. This was the 2012 Jumpstart Our Business Startups (JOBS) Act, which changed the rules for private equity and start up finance. This of course has happened right at the time when digital marketing has changed the way that markets are created and innovation is driving the economy in new directions. Opportunities and funding options are opening up that would have never been dreamed [...]

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The Sensitive Business Of Selling Your Gym Business

Finding A Buyer I recently wrote an article about how and when to sell your gym. It covered the basics about the topic but there is so much more information out there that it's likely something that I'll revisit a few times. There are many motives behind selling, from fast exit to slowly easing into retirement. Most likely, you love your independent gym business and it's prospering. But it's hard work and there are other worthy things that you intend to achieve before you settle into retirement. Or perhaps the time to retire is approaching. Even if that day is [...]

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First Things First In Digital Name Selection

This Quirk Might Give Your Business Away When you are responsible for everything that happens in your business you are juggling so many hats it can be extremely stressful when you have to make choices and decisions in marketing. Decisions range from selecting the color scheme of your brand and the look of your logo to managing your website and social media. Some choices in this realm can be forgiving and others not so much. Names, domain names and toll-free numbers have a few quirks that can make them work against you if you don't take adequate care and foresight [...]

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New Year Fitness Industry Review And Preview

Breaking Down Boundaries 2014 saw changes and much activity in the fitness industry and new some trends. The hope of new things brought us the excitement of things like getting down in the mud with Spartan Fitness. CrossFit stepped up to be the exemplar of the aggressive type of training that only truly fanatical fitness enthusiasts understand. New gyms popped up, studios rode the trends and some big names ebbed and flowed in their fortunes. The combinations of fitness and digital will continue to throw up unexpected and tantalizing opportunities. The importance of the digital component of any business is [...]

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Sales And Presentation Skills Revisited

There are people in the world who are naturals at selling and performing in public situations. Personally, I am not one of them. It amazes me when someone seems to be naturally cool and confident when eyes are all on him or her. Also, those people tend not to be trainers or managers working in gyms. I suppose that figures, helping people motivates most of the trainers that I know but they tend to have a history in jobs that are not sales related. I love working out and hanging out in the gym and so do most of the [...]

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Differentiating Price and Value In Premium Gym Memberships

Do Premium Gym Memberships Have A Future? Why are there some gym business models that seem to be in huge demand while still charging top dollar for memberships? I think that the simple answer is that there are enough members who are shopping by value and not price. It's not about competing based on what the gym across the street is charging, it's about finding the things that you are truly great at and which are in demand and matching the two together. Too many small businesses fail to understand this important distinction, not just in the gym business but [...]

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Industry Trends Compared And Updated

It never hurts to look back at the predictions of the past and look at where the trends are leading at the present moment. I recently posted about the latest trends that were published by the American College Of Sports Medicine (ACSM). So I figured it might be appropriate to go back and look at how things are coming up from the view of the International Health, Racquet, and Sportsclub Association (IHRSA). Long time readers of this blog will remember that I posted an article about their trends for 2013. Now that we are through 2014 effectively it seems like [...]

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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 gym Sell gift cards at the local sporting goods store Distribute them through your trainers There is a reason that [...]

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The Best Time To Sell Your Gym

After all of the hard work and time you have put into your small gym business you owe it to yourself to maximize the value you get out of it when you sell it. Quite simply, the best time to sell your gym is when things are moving up. When it has gone beyond your expectations and is still going. That is the exit point that will give you the most satisfaction and arguably the most cash in your pocket. To make sure you are prepared, have an exit strategy and clear milestones to indicate when you intend to exit. [...]

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Burning The Candle Of Gym Ownership

All of the small business owners I know, be they gym owners or anything else, seem to have one trait in common: They're working all of the time. I can only speak for myself but this permanent work mode has often not felt like work at all. It's been a scramble to make a living out of doing what I love. My colleagues here at Gym Insight seem to feel the same way, judging by their commitment levels. AVOIDING BURNOUT 101: EFFECTIVENESS AND EFFICIENCY Burning the candle at both ends is an apt metaphor for the kind of work ethic [...]

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Gym Insight Is Now Servicing Over 2,000 Fitness Businesses

This month, Gym Insight had the honor of welcoming our two thousandth customer! This is big news for us because we still pride ourselves on bootstrapping our company. We believe that the focus is customer service and providing innovative software to keep even the smallest fitness studio two steps ahead of the big-box franchise down the street. Our reputation and the the quantity of customers that we service, speaks for itself. This family business grew organically and is here to stay. Come on aboard with us to enjoy personal communications and streaming updates and features of the next generation gym [...]

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2014 Wall Calendar with "I am the master of my domain" printed on it.

The Jerry Seinfeld Success Strategy

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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Woman doing a Kung fu pose

Gym Equipment Leasing – It Takes Options To Make Options

I last wrote about leasing one year ago and, as it's such an important issue, I decided that it's time once again. Leasing should be something that every gym owner is aware of as an ownership alternative. In fact I want to make the claim that gym equipment leasing is part of something that I think is much bigger, even a mindset. It's all part of creating your own options and being able to respond to changing situations with flexibility and agility. Your overhead and capital outlays can really be tough to meet in any business. Gym specific items such [...]

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