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Tag archive for gym business

Even More Alternate Revenue Streams for Gym Owners

If your gym operates solely on income you bring in from client memberships, you could be leaving a whole lot of money on the table. Opportunities for Alternate Revenue Streams you can operate from your gym or your website are nearly endless. Passive (Or Almost-Passive) Income The least time-consuming revenue opportunities will earn money for your business with little to no effort or time spent on your part once the initial setup is complete. Truly passive income is difficult to generate, but it is entirely possible to build low-effort revenue streams into your business. From simple to complex, you can [...]

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Alternative Fitness Club Revenue Streams: To Add or Not to Add

So, Should You Pursue Alternate Income Streams or No? There comes a limit to the number of memberships you can sell, which is a good thing. You hit the ceiling for your single gym it means you’ve maxed out the potential for monthly subscriptions. To go further, you have to sell more to the same people with alternative fitness club revenue streams. There’re some alternatives to this alternative, but they may not be the best choices. You can do the big-box corporate brand shuffle, which means over-selling memberships and hoping they don’t all turn up. Instead, you have to connect [...]

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7 Reasons Client Programming Is The Key To Fitness Club Success

Structure Your Offerings with Client Programming for Fitness Client programming is your menu of good things that you offer your market. In the fitness business, it’s one of the fundamental dimensions that define a successful training practice. The big-box fitness brands can afford to stand back and cover all of the programming bases. As a small gym business owner, you are probably better served if you focus on one or a few. The irony, of course, is that the corporate brands would do better if they could do the same. However, in my experience, excellence doesn’t scale all that well. [...]

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11 Tips About Starting Your Own Business in Fitness 

Building Your Dream by Starting Your Own Business in Fitness If you are the kind of person, like me, who enjoy fitness and being at the gym, the dream of starting your own business in fitness is the logical next step. Fitness is so wide-open because it’s a people business. If you can gain a following of one person, you have a fitness business. That sounds crazy but, if you’re in the right place at the right time, celebrities and the super-wealthy do sometimes hire trainers full-time. That may be a bit extreme and takes a lot of luck. However, [...]

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Fitness Feedback Loops That Could Teach Wall Street a Lesson

The Sound of Fitness Club Amplification Feedback loops are weird. Put the front desk mic up a little too close to the speaker just one time, and everybody loses their minds (I swear it was an accident). That characteristic squeal is a feedback loop of amplification that builds on itself quickly to an unbearable screaming limit. In fitness training for clients, you see something similar, but in a good way. It’s a much more gradual loop of growing fitness and confidence that translates into confidence and enthusiasm that produces a stronger workout ethic in your clients and better physical results. [...]

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Diamonds Are Forever but Club Retention Changes Daily

Glittering Membership Management Performance Indicators If you can do things that keep and reduce change to the minimum your club might just be on the path to finding diamonds. Retention is the key concept of club management. It brings your small gym business dreams to life. That is a constant, but, unless your retention rate is one-hundred percent, it means change is the only constant. Setting Retention to Maximum If you have a limit to your membership management capacity, the longer members stick around, the less you have to invest in recruiting new ones. The difference is like that of [...]

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Personal Branding for Fitness Club Owners And Entrepreneurs

Make Your Name in The Business As an independent gym or fitness club owner, have you considered your personal brand? I’m not talking about the fitness club brand of the gym that you founded (or plan to start). What I mean is your public name and reputation as an entrepreneur. If you have worked with an executive coach, you may have heard of personal branding. Chief-level executives, ambitious corporate VPs, and high-tech start-up founders often work with a coach. The goal is to enhance your credentials and be more valuable as a leader and public figure. Personal branding opens doors. [...]

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What Is Your Fitness Club Membership Guest Policy?

Policies Policies Policies Have you ever heard about black swans? If not it’s because these birds are alien to the Northern Hemisphere. When you think of the graceful birds that inhabit lakes and rivers, you probably think of a magnificent white waterfowl with a long and graceful neck. These dark, red-beaked swans are native to parts of Australia. If you see one in North America, Europe, or other parts of the world, it’s likely to have escaped or wandered off after being introduced by humans. Most people don’t know that black swans exist until they see one, and not many [...]

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Are Fitness Club Waiting Lists Good Or Bad For Business?

Let’s Talk About Success What does it mean to have a waiting list? First, you should be thrilled that your fitness club is so in demand! If you have a strict upper limit on capacity such as class spaces adding new members beyond that limit can be a dangerous game. When your gym is overcrowded, service delivery tanks and cancellations skyrocket. Keep A Steady Buzz with A Waiting List You might even want to have a contingency plan that includes cutting off new memberships and waitlisting applicants to prevent chaos. If your gym gets overcrowded or the staff overwhelmed, service [...]

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The Big Picture in Client Acquisition and Client Retention

Powering Your Way Out of The Twilight Zone Picture yourself on a treadmill and the faster you walk or run, the more new clients you add to your gym membership base. At the same time clients are dropping out and, to stay in business, you have to keep adding new ones to replace them by running faster. The metaphor of the treadmill could become a nightmare if your client acquisition doesn’t keep up with your cancellations. This picture shows the paradox of retention, and if you’re struggling, it’s like watching yourself in an episode of the TV classic series, the [...]

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Tying Technologies Together for Better Client Outcomes

Wearables Have Hit The Big Time for 2019 According to Club Industry, one-in-six consumers now use a wearable digital device, such as a smartwatch or fitness tracker. In the valuable 18 to 34 demographic, the trend is even more pronounced, with one-in-three. It’s starting to look like there’s a critical mass of people out there, for which you can enhance your gym business with the data that they’ll help you gather. You can add a new level of experience for your membership with gamification features. In return for the improved experience, you’ll get a stream of insights into the workout [...]

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Changing Track To Try Out New Gym Business Opportunities

To Change Or Not To Change Are you thinking about starting a new gym business or changing the direction of the one you operate now? If you’re not, I’m not suggesting you should, but if things haven’t worked quite the way you planned or, if the market has peaked and begun to tail off, you might be wondering about making a change. The choice between staying the course in a mediocre business model and finding a new one that’s better is the conundrum of the ages. There’s even a name for the syndrome that business owners and entrepreneurs face, it’s [...]

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Why Company Cultures Still Matter in The Fitness Business

Four Organizational Culture Types Did you know that there are four different categories of organizational culture? I didn’t. Some researchers at the University of Michigan figured it out, and I’m glad they did. So, let’s take a look at these four cultures and see how they show up in with the fitness business. Business schools that develop management theories have been covering the structures of companies for decades. Formal structures have the backing of authority; they are the written tables of organization, policies, and procedures. The formal structure of your company goes all the way up to the corporate documents [...]

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Gym Business Leadership To Motivate 5 Key Constituencies

Swinging The Lead in Your Sphere of Influence In entrepreneurship, business ownership, and in fitness management, leadership is what you bring to the gym as a founder or manager. It is the one factor over which you have the most control and which makes it possible for small startup gym business owners to fight their way into crowded fitness club markets. As I haven’t written much about leadership lately, I think it’s time to share my thoughts on the subject once again. Leadership is the interpersonal skill that you exert to influence other people to work with you and do [...]

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Fitness Business Decisions Based on Bayesian Priors

You may be thinking, “OK, Gym Insight, what are you doing posting about esoteric mathematical concepts like Bayesian Priors?” First of all, it’s 2018 and living in the future demands that we apply futuristic methods. Second, I promise not to start quoting mathematical equations. Finally, there is probably something that any fitness business owner can learn by using a little statistical discipline to their business model. What Is This Bayesian Thing? It is more than a method; it’s a way of looking at the world. You have a position, a view that you formed for whatever reason. You can test that [...]

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