Whether you have 50 or 500 members, it doesn’t hurt to take a good look at the financial fitness of your box. Your idea of success may not be centered around high profits but the truth of the matter is if you’re not generating profits, you won’t be in business long.
This year, we set out to gain deeper insight into the financial success of affiliate gyms around the world. In a recent survey, we asked affiliate gym owners to share information about the performance of their box through a series of financial, operational and emotional questions. With over 400 affiliate gym owners responding, we were able to create the most detailed financial performance information that we’ve ever seen for our industry.
Since you’re busy, and the real value-add actions usually occur when you’re with your athletes, you need to find ways to spend less time doing tedious and recurring tasks. To help you figure out which tasks are wasting your time and how you can get away from them, we’ve created this list.
The holiday season is upon us and what better way to show appreciation to your staff, members and community than by gift-giving! There are many ways to show appreciation to trainers, members and your community.
One facet of operational excellence is diversifying your revenue streams. Diversification will help you prepare for changes in the industry and give you greater financial security.
To systematize your athlete experience, you’ll need to work on training your athletes and staff to follow specific operational procedures. The three following areas are those that need the most structure to create a consistent experience.
As you know, first and last impressions are critical. So having a process for welcoming and exiting athletes is an important step in operational excellence. Doing a good job of bringing athletes in and kindly and attentively transitioning them out ensures everyone has a positive and consistent experience, which will lead to better retention and a higher percent of member returns.
Let your opening and closing procedures be a starting point for systematizing and documenting your operations. With documented opening and closing steps, your team will know what needs to happen each day, and you’ll know things are going to be done right.
In the second portion of our two-part series, we’ll cover the reasons gym owners might not want to host, as well as provide some tips to help you decide if hosting is a good move for your box.
Every functional fitness gym owner has, at some point, thought about whether or not to host a specialty seminar. It’s pretty cool to have a high profile coach come to your facility and work with your athletes, but do the pros outweigh the cons in actually executing the seminar?