Maybe you've heard about how retail giant Target had a huge data breach in 2013. If you were exceptionally unfortunate, you know about it because of fraudulent activity somewhere in your personal credit profile. As a gym owner it may be hitting you particularly hard by interfering with your monthly membership revenue. In response you have to chase after payments and update card numbers on a scale that is putting a lot of pressure on you, your managers and your bottom line. The Target Scandal So, what happened to Target? The short answer is that they had something like 70 [...]
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As an independent gym owner, I have learned a lot over the years. The growth in knowledge that I have now compared to back then when I opened the doors to my first club is staggering. I constantly have ideas and thoughts running through my head wishing that I could type as fast as they pass by. If I had to time write a book on opening a real gym (step-by-step) from the first day you begin to gather plans in your head to the day it became profitable, I would do so in a heartbeat. However, I do not [...]
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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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