gym business

Tag archive for gym business

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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On The High Road To Premium Gym Ownership Success

Giving The Value Might Just Return It At A Premium Obviously I have been writing copious amounts about marketing and premium business models. However, with the potential for value and return on investment (ROI) I think that it’s important to cover it as thoroughly as possible. As the saying goes: When you aim for the stars you’re not likely to end up with a face full of dirt. If Gym Insight can give you some true value in words you might see that our software is also worth looking at. There are a couple of ways to increase ROI and [...]

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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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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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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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Change Management For Gym Managers

Change Management Is Risky Business Crunch Fitness is on the market for around $200 million. Wow! Wow, not just because that’s a lot of dough but because of the company’s unique business model that they use and how it could be hit by change coming in from the outside. As far as I know Crunch is in good shape so I assume there is no need to do some sort of elaborate gym-rescue. If Crunch is a successful company, they need to keep doing what they do best, which is to creatively mix and match classes and fitness trends to [...]

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The Insights Of Bruce Lee

It is not a daily increase, but a daily decrease. Hack away at the inessential. This quote from martial arts legend Bruce Lee is so simple, yet it says so much of what success is all about, in gym ownership, in business and life in general. You can spend hours doing little things or find the big things that matter; they may look the same at first. But when all the other things drop away you can still take the essential factors and use them to achieve the final outcomes you desire. This is what sculptors do when they carve [...]

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100 dollar money boat on water

Embracing the Cluster and Responding to Competition

Ever notice that gyms all seem to cluster together in one corner of the neighborhood? It’s like where all four corners of an intersection each have a gas station on them. How does that work? And what does that mean for the small business owner? It works because everyone gets to maximize their presence in the market and the cluster makes everyone more visible than they would be alone. The sum of the businesses is greater than the parts. If you have no other choice but to open a gym in a fitness saturated area, here are some positive economic [...]

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News papers with the front cover daily news titled "New Press Release!!"

For Immediate Release – A Cost Effective Marketing Strategy

Marketing your fitness center is always a battle to stand out from the crowd. The voice most likely to be heard is the one that makes the best use of media to consistently send the message that will appeal to the most potential members. Over time you will discover a whole host of methods to promote your gym. A press release is one of the most effective ways to get the word out to potential new members and to raise your brand awareness in the marketplace. If you haven’t tried using this method to spread the word about your promotional [...]

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Female nurse standing in front of a blue cross sign and holding a syringe

Cancellation: Inoculation or Escalation?

This week I felt inspired to write about handling membership cancellations. There are several reasons that they come to mind right now. It’s the season for peak sign-ups, which will be followed later by a wave of cancellations as the faint hearted drop by the wayside. Also, there have been some stories in the news about companies taking it very badly when customers cancel and complain. I think it’s worth mentioning because you can’t be too prepared when it comes to dealing with customer service crises. Mishandling complaints can lead to a vicious cycle that, in this age of Twitter, [...]

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2014 Goals on a yellow post-it note

Resolutions for Action

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 Year. Resolutions are supposed to serve a purpose, [...]

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"Admit One" vintage tickets

Do Discount Offers Make Loyal Health Club Members?

I’ve occasionally had some casual inquiries about adding the ability to manage time-limited part-time customers to Gym Insight. That means time selective memberships that use your gym when you have excess capacity, the quiet times of low attendance that comes from the natural ebb and flow of membership demand. I haven’t fully written the code to support this yet but, if there’s serious interest in the health club community, I would be happy to consider adding an update or expansion module. The Off Peak Trial Period Membership For the kind of offer I’m talking about, here you need a connection [...]

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The Long And Short of The Long Tail

When you have to make the decisions about where you are going to spend your marketing efforts, it really helps to have a sense of what your market is like statistically. In my post about the 80/20 Rule I talked about how a few activities can produce the majority of your successes, profits or even problems. On the other side of the equation you have the unique and obscure diversity of what is known as “The Long Tail”. Out of The 80/20 Rule Comes “The Long Tail” The principal behind the 80/20 Rule is called a power law distribution. This [...]

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Employee Manual with cover that says "Read the Manual - Instructions, Help & Advice"

Protect Your Gym With A Clearly Written Employee Handbook

Do you have an employee handbook for your gym? In my opinion, having a handbook is extremely important and relevant for large clubs and small clubs alike. As the boss it’s important to play your cards close to your chest, to maintain control. However, having the rules and definitions out in the open is something that gets everyone "singing from the same hymn sheet". It’s critical for staff to know how to handle difficult situations and feel confident in their actions. If boundaries aren’t clearly stated, your staff could fall into the miserable habit of passing the buck and ducking [...]

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