January is an interesting month for many gym businesses. There’s this misconception that we have a rush on new clients coming into our facilities, but in reality, we are just recovering the numbers we lost over December.

For many typical gyms, the February numbers mirror those they had in November.

As for the New Year resolution crowd, we all know that most of them don’t stick long enough. If you are running a small group personal training model, like the one we recommend, these are not your ideal clients.

You’d much rather have lifestyle clients who are much stickier and willing to spend more.

In this episode, Tim and Randy share tips on handling January marketing in your fitness business and the pitfalls to avoid.

Key Takeaways

- ‘We don’t speak January’ (03:59)

- Don’t be everything to everybody (07:05)

- The pitfalls of running challenges (11:59)

- Is your marketing designed to convert a lead to a regular member? (13:02)

- Don’t burn down your market (17:42)

- Why large group training is the worst model to operate in (21:30)

Additional Resources

- FREE 7-Figure Semi-Private Gym Blueprint

- Learn more about our Business Accelerator Coaching Program for Gym Owners  

- Learn more about The Iron Circle 

- Business Talk with Fitness Professionals Facebook group 

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If you haven't already, please rate and review the podcast on Apple Podcasts!

As a gym owner, you took on considerable risk when you decided to open a gym. Hopefully, the risk paid off, and now you are reaping the rewards in the form of profits.

Now what?

Do you go buying toys with this profit, or do you use them in a way that serves you long term?

In this episode, Tim and Randy share some tips on how you can invest your profits to grow and multiply your wealth.

The first place you should be looking at is the amount of rent you are paying for your lease. Over the long term, it’s a lot of money that you can use to acquire property.

It makes a lot of sense to invest the profits in acquiring the building where your gym is based.

But there are other options as well.

Tune in as we go through strategies to increase your profitability, then make that profit work for you.

Key Takeaways

- The goal of our coaching program for gym owners (01:03)

- What are you doing to ensure profitability (02:02)

- Are your profits serving you? (04:03)

- The progression of a gym owner (08:02)

- The catch-22 of profitability and taxes (10:25)

Additional Resources

- FREE 7-Figure Semi-Private Gym Blueprint

- Learn more about our Business Accelerator Coaching Program for Gym Owners  

- Learn more about The Iron Circle 

- Business Talk with Fitness Professionals Facebook group 

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If you haven't already, please rate and review the podcast on Apple Podcasts!

2022 was a recovery year for the fitness industry from all the effects of the COVID pandemic and the shutdowns we all had to endure the previous years.

Unfortunately, around 30% of brick-and-mortar gyms didn’t make it.  

So, what does 2023 hold for our industry?

Tim and Randy have some predictions for the new year, and going by previous predictions, most of these will not be off the mark.

The greatest issue for 2023 is inflation and a looming recession. Some gym owners who make the wrong move will be out of business, but others will thrive in this environment.

Listen in to some of our predictions and how best to get ready to grab the opportunities that are ahead.

Key Takeaways

- Iron Circle update (00:50)

- It’s all about growth (02:09)

- More high-ticket programs (04:12)

- Middle-cost gyms will be hurt badly by rising expenses (07:36)

- How inflation/recession will impact gym owners (12:33)

- The renaissance of the micro tiny footprint gym (21:19)

- Location is more important than ever (22:40)

Additional Resources

- FREE 7-Figure Semi-Private Gym Blueprint

- Learn more about our Business Accelerator Coaching Program for Gym Owners  

- Learn more about The Iron Circle 

- Business Talk with Fitness Professionals Facebook group 

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If you haven't already, please rate and review the podcast on Apple Podcasts!

In this episode, we go through some data from a state of the fitness industry report that gives an interesting insight into how gyms and gym owners are faring in this industry.

Some of the statistics in this report are scary, but some opportunities become apparent when you read through the report.

More than 10,600 gyms globally offered data for this report. Most of these were CrossFit-style class-based gyms, but the numbers show what we have been saying numerous times on this podcast about class-based gym business models.

The bottom line is that it's time to switch to a semi-private model because you cannot scale one-one personal training, and there are no profits to be made in class-based models.

Tune in to hear more about the report and some conclusions we can make from the data.

Key Takeaways

- State of the industry report (03:28)

- Eye-opening data from the report (05:37)

- The limitations of a class-based model (07:18)

- The fitness model for profitability (10:26)

- The average industry retention (12:10)

- Average net owner benefit (17:22)

- It's time to switch to a semi-private model (20:42).

- Secret, behind the curtains, meeting at our gym (23:02)

- The path is math (26:42)

Additional Resources

- FREE 7-Figure Semi-Private Gym Blueprint

- Learn more about our Business Accelerator Coaching Program for Gym Owners  

- Learn more about The Iron Circle 

- Business Talk with Fitness Professionals Facebook group 

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If you haven't already, please rate and review the podcast on Apple Podcasts!

We are coming to the start of the new year, and it’s that time when many gym owners are inundated with whiz-bang marketing campaigns that promise to bring in hundreds of new members to their businesses.

But Tim and Randy believe that this is the wrong way to go about it.

Focusing on these marketing campaigns that bring in an influx of new clients is just a recipe for chaos.

Instead, we recommend that you focus on systems that allow you to grow and scale your business sustainably.

With systems in place, you can then have marketing campaigns that bring in people all year round but in a way that doesn’t overwhelm your business and allows you to provide the level of service your clients expect and deserve.

That’s the sexiness of systems.

Key Takeaways

- Fall to the level of your systems (01:48)

- How to grow and scale your business (03:11)

- Can your business take an influx of new clients (04:12)

- A systems-based fitness business (09:54)

- Keep everything simple (13:52)

- How to have the best year of your fitness business (14:49)

- Build your business around recurring revenue (18:19)

Additional Resources

- FREE 7-Figure Semi-Private Gym Blueprint

- Learn more about our Business Accelerator Coaching Program for Gym Owners  

- Learn more about The Iron Circle 

- Grab your tickets for the 2023 FitPro Growth Summit  Use Code WORM for 25% Off

- Business Talk with Fitness Professionals Facebook group 

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If you haven't already, please rate and review the podcast on Apple Podcasts!

When it comes to a fitness business, it's not rocket science; the path is simple if you just follow the math.

Unfortunately, many gym owners we come across tend to have an emotional attachment to their business which hinders their decision-making.

A case in point is a gym owner in our Iron Circle who doesn't want to increase the rates of old members who are on much lower rates than newer members because he doesn't want to rock the boat. He doesn't want to lose these people because they have been there for a long time.

Yet the math clearly shows that he could provide a much better service to all clients if he raised rates for everybody.

This is just one example of emotional decision-making, but we see it all the time.

The key to succeeding in this business is to follow the math, and you'll never go wrong.

Key Takeaways

- It's math, not rocket science (02:12)

- What's your revenue per client (04:37)

- The path is math (06:45)

- Revenue is the driver of a business (08:55)

- Standards over emotions (13:55)

- The math of marketing (16:48)

Additional Resources

- Learn more about our Business Accelerator Coaching Program for Gym Owners  

- Learn more about The Iron Circle 

- Grab your tickets for the 2023 FitPro Growth Summit  Use Code WORM for 25% Off

- Business Talk with Fitness Professionals Facebook group 

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If you haven't already, please rate and review the podcast on Apple Podcasts!

For the longest time, fitness marketing has only targeted a small population segment. This small segment lives at the top of the fitness awareness triangle.

You can think of it as the warm traffic that readily responds to a fitness ad and is likely to change gym membership from one gym to another fairly frequently.

At the bottom of the fitness awareness triangle is the vast population who don’t even know the connection between fitness, weight, and the health problems they face.

We are leaving a lot on the table by failing to educate these masses about the benefits of working out regularly.

The problem with only targeting the small segment at the top of the triangle is that we compete with all other fitness facilities for these people, making marketing expensive.

We also have to sell our services to the bottom of the triangle.

How do you do it?

Tune in to find out some ways we think you can do it!

Key Takeaways

- The 2 types of selling fitness (01:32)

- The fitness marketplace awareness triangle (02:08)

- How to market to each of the segments (05:55)

- Content-based marketing (06:43)

- Attack the bottom of the triangle (08:38)

- The challenge of selling fitness (14:15)

- Fitness marketing has to change (17:50)

Additional Resources

- Learn more about our Business Accelerator Coaching Program for Gym Owners  

- Learn more about The Iron Circle 

- Grab your tickets for the 2023 FitPro Growth Summit  Use Code WORM for 25% Off

- Business Talk with Fitness Professionals Facebook group 

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If you haven't already, please rate and review the podcast on Apple Podcasts!

Quality leads are, without a doubt, the lifeline of a successful fitness business.

No gym owner can ever claim to have a 100% retention rate, which means we need leads to have the desired membership at any time.

The question then is, how much money are you paying for your leads?

In this episode, Tim and Randy share a powerful strategy we use here and with our coaching clients. With this strategy, you’ll never have to scramble or spend money to get leads again.

It’s more of a long-term tactical play that any gym owner can use and win.

Listen in and go implement it in your business in 2023!

Key Takeaways

- Tactical play to get more leads (02:12)

- Value-based marketing vs. direct response (03:57)

- Owning your traffic (04:49)

- Using Kajabi to deliver value (07:19)

- Play the long game with content (08:53)

- Why you should give it all away (10:54)

Additional Resources

- Kajabi Affiliate Link 

- Learn more about our Business Accelerator Coaching Program for Gym Owners  

- Learn more about The Iron Circle 

- Grab your tickets for the 2023 FitPro Growth Summit  Use Code WORM for 25% Off

- Business Talk with Fitness Professionals Facebook group 

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If you haven't already, please rate and review the podcast on Apple Podcasts!

Today on the show, Tim and Randy have the pleasure of interviewing Shawn Hanquist, a financial advisor and founder of FIT CFO.

Shawn works with gym owners and online fitness coaches to help them understand their P&L numbers, balance sheet, and all those other financial  numbers.

As a gym owner, the only way to measure the health of your business is through financial reports. Yet, for some reason, some gym owners completely avoid it.

You cannot make sound decisions and take meaningful action without getting insight from your financial numbers.

Perhaps you are nervous about your financials because you fear the numbers might expose you, but you need to overcome this fear quickly to help grow your business.

In this episode, Shawn takes us through some important financial numbers that every gym owner should know and how to make projections for your business. 

Tune in!

Key Takeaways

- Accounting 101 (02:43)

- Overcoming the anxiety of sharing your financial reports (04:32)

- What’s a good net profit margin (06:13)

- Owner’s benefit expense (09:00)

- Cashflow is the lifeblood of your business (10:15)

- Biggest mistakes gym owners are making (25:41)

Additional Resources

Connect with Shawn Hanquist

Website: FIT CFO

Socials: www.fitcfo.com/social

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- Learn more about our Business Accelerator Coaching Program for Gym Owners  

- Learn more about The Iron Circle 

- Grab your tickets for the 2023 FitPro Growth Summit  Use Code WORM for 25% Off

- Business Talk with Fitness Professionals Facebook group 

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If you haven't already, please rate and review the podcast on Apple Podcasts!

One common mistake gym owners make in the business is trying to create roles to fit in people rather than fulfilling roles.

A case in point is something we hear a lot; a gym owner is approached by someone like a nutritionist or a dietician who wants to partner with the business. The gym owner now goes out of their way to create this role. This happens with other services as well.

We all know that having nutrition built into your programs will help your client achieve better results, but at the same time, when you lean on a third party for this service, you are opening up a can of worms.

If you want to add a new profit center/service to your business, Tim and Randy recommend that it should be in-house.

But before you get to this point, you should consider dialing in your core offering before thinking about other profit centers.

In fact, we have a 5-question filter that gym owners should use before they consider bringing in a new service to their business.  

Tune in to hear more about it.

Key Takeaways

- Accelerator coaching program for gym owners (00:44)

- Should you bring in a new service to your business? (03:11)

- Role creation vs. role fulfillment (03:40)

- Solidify your main thing first (06:02)

- More is not better (07:35)

- Third-party vs. inhouse services (08:24)

- 5 Question filter before bringing in a new profit center (12:52)

Additional Resources

- Learn more about our Business Accelerator Coaching Program for Gym Owners  

- Learn more about The Iron Circle 

- Grab your tickets for the 2023 FitPro Growth Summit  Use Code WORM for 25% Off

- Business Talk with Fitness Professionals Facebook group 

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If you haven't already, please rate and review the podcast on Apple Podcasts!