How do you know when it is time to expand?
Ok well before you start thinking about expansion or taking on any risk….
Is your current gym fully booked and has it been for the past 3 months?
Are you turning people away?
if you answer YES to these questions, then it is time to look at getting more capacity, being able to fit more people in
Expansion could look like getting a bigger premises or taking on a member of staff
it doesn’t always mean you’re going out into a bigger floorspace.
But if you are the person who wants to take that risk, you need to ask your yourself?
have I got the skills? just because you get a bigger floor space, doesn’t mean you can fill it….
Because a bigger floor space can bring bigger problems
Remember you could actually earn a lot more money if you just reorganised their business model and use it more efficiently.
2. When is it time to add more classes?
Like the first question, once you are full in your current model
But also start looking at offering more opportunites for someone to train rather than come and train with me 3 times a weeks at 6pm.
it is very limiting to someones lifestyle,
selling more access to the gym will open up a lot more capacity.
3.How do you know when it is time to go out on your own?
The first thing you need to think about is, should I go out on my own?
Going out on you own can bring a lot of stress and can end up crushing ya, where you are not able to actually provide the service to your clients
Some people can make really incredible amounts of money renting facilities in commercial gyms.
You need to figure out are you the right type of person because if you can’t handle huge amounts of stress and fast paces of change you should not open your own business
Ask yourself What skills do I need from marketing, sales and fulfillment?
How much money do I need? how long is it gonna take? and Have you the ability to get shit done efficiently?
4. I keep hearing I need to track my numbers in business but what are the important ones to track?
Okay if we were to think like marketing, sales and fulfillment
People’s name, email, phone number, people that are putting up their hands ( people facebook messengering you asking how much?, that is not a lead)
How many leads am I getting weekly or monthly?
How much do these leads cost?
Set an appointment, how many of these did you set? how many showed up? Finally how many did you close?
when I say close I mean someone hand over cash or give card details, not tell you they will pay you next week that is not a sale.
What was the cost of that sale?
After their trial how many of those people are staying? into a longer-term commitment whether it’s 6 or 12 months
What are your suspensions? How many people are suspending their contracts and how many are leaving?
This will show you your level of service quality
5. how do you get more sales from your current clients?
Does sales mean selling them more stuff like t-shirts or supplements
……..or keeping them on a longer term contract like a continuity program?
You would want to be selling a lot of merchandise to make any money from it, you would be better off giving them a tee shirt for free where they will wear it
around then try and make a tenner from it
Think of the value ladder which means in terms of the service, offering them more add-ons which would really give them the result quicker.
For that speed and for all those extras those people are going to be willing to give you more money
Don’t sell the thing sell what the thing does
if you are going on holiday you are not selling the plane, no one cares what plane you are going on, you sell the destination
you talk about Koh Samui, how you are going to mediate, then drink some coconuts not how you got there
Fitness is the same, its not about what you get like
- Before and after pictures – to remind you how fat you are
- training 3 times week
- weekly weigh-ins on a monday and wednesday to ruin your weekend
Fitness should not be a solution to a problem.
We should be selling our services like a lifestyle to someone not a quick fix.
Just like meeting a girl in a nightclub you are not going to ask her , are you going to be with me when I am 70yrs of age and can’t wipe my own ass…..
you just want to know, is she up for some action………..
If you have any more questions hit us up…..