fitSpot Guru

What We Cover In This Episode:

• News with Nick and thoughts on the new Crunch Fitness marketing strategy [1:13]

• What ChatGPT is saying about:

…controversial things fitness studios might say about New Year's resolution pressure [6:16] …what fitness studios might say about body transformation focus that could be seens as controversial [10:36]

…the debatable messaging out there around playing on insecurities [28:03]

• Quick wins and how to prepare for future implementation of fitDEGREE features such as spot booking [32:05]

• Our weekly prompt that will help you navigate the New Year's resolution rush in the studio [34:08]

Quotes:

"The promise of a total body transformation is something that you as a business cannot really control. It's all in the person's level of commitment and motivation." [Megan, 11:45]

"I do think that we have shifted to a lot more of a healthy mindset when it comes to working out and health and wellness. The fact that we now say health and wellness together when talking in the context of going to a studio and working out is very important, I think." [Megan, 23:12]

"What I have seen too is when people explain what they're going through from a fitness and a health perspective, they think they're being healthy. They just don't really understand that they could make better decisions." [Nick, 25:15]

LINKS:

Crunch Fitness 2023 Feel Good. Not Bad Commercial

Send Megan Your Playlist or Discuss the Podcast Here!

fitDEGREE's Business Portal

https://calendly.com/fitdegree/support

[email protected]

https://www.instagram.com/fitdegree/

​​https://www.instagram.com/fitspot_guru/

https://www.fitdegree.com/blog

What We Cover In This Episode:

• One of the single biggest things that restricts selling options as a studio owner [4:03]

• How to approach starting the selling process as an owner [7:38]

• A look at stock sale versus the asset sale [11:44]

• What to consider in order to be fully prepared for due diligence [13:41]

• Why you should always be thinking about your exit plan while running your business [17:57]

• Thoughts on what the value of legacy really means [25:33]

• What the driving factors to sell a studio typically will be [36:27]

• A few things that you can do right now to set yourself up for success in selling [41:21]

Quotes:

"Have policies and procedures that are written into the employee handbook that someone else can step in and take over and it doesn't revolve around you as an owner." [Mitch, 4:31]

"Normally, we want to be years ahead of this, so your lease coming to an end can restrict the options that you have to sell more than anything else." [Mitch, 6:38]

"Beauty is in the eye of the beholder. Worth is, how much is it worth to you and how much is it worth to a buyer who's willing to write a cheque? That's what determines value, really." [Mitch, 22:34]

LINKS:

Learn More About Michael & Get Exclusive Offers from our Partners!

Mitch's Website and Email

Connect with Mitch on Instagram

BizBuySell

Michael's Website and Podcast

Connect with Michael on Instagram

Episodes 219, 217, 215 & 115 with Michael

Send Megan Your Playlist or Discuss the Podcast Here!

fitDEGREE's Business Portal

https://calendly.com/fitdegree/support

[email protected]

https://www.instagram.com/fitdegree/

​​https://www.instagram.com/fitspot_guru/

https://www.fitdegree.com/blog

What We Cover In This Episode:

• News with Nick and what research is telling us about 2023 fitness routines [1:11]

• A look at the common assumption that boutique fitness studios should actively promote a "health at every size" philosophy [7:28]

• The counterpoint that fitness studios should also have a responsibility to also encourage traditional health and fitness goals, such as weight loss and muscle gain [9:44]

• Our thoughts on whether emphasizing body positivity too much might lead to complacency [18:10]

• Quick wins: the concept of fitness prescriptions, using tags to manage check-ins and how to be mindful of positivity in terms of cues, motivators or even marketing [21:18]

• The weekly challenge of a mindful body positivity boost [23:54]

LINKS:

Fitt Insider's Year-End Review

Send Megan Your Playlist or Discuss the Podcast Here!

fitDEGREE's Business Portal

https://calendly.com/fitdegree/support

[email protected]

https://www.instagram.com/fitdegree/

​​https://www.instagram.com/fitspot_guru/

https://www.fitdegree.com/blog

What We Cover In This Episode:

• The most valuable lesson Michael has learned while working inside a business [1:42]

• What motivated him to start coaching and mentoring other yoga instructors and studio owners [2:22]

• How Michael's experience as a yoga teacher and studio owner helped shaped his approach to coaching [3:14]

• The key elements to building a sustainable and profitable yoga studio [4:42]

• Why he recommends reviewing the lifestyle type of your clients and setting the schedule around them [9:07]

• How to begin effectively market your classes and attract a student base [10:47]

• Some common mistakes studio owners may be making when trying to grow their businesses [14:02]

• Michael's thoughts on fostering a better community within your studio [18:22]

Quotes:

"Re-look through the customer journey from the get-go; from the website, all the way through to the studio experience. Then [make sure] all the automations, the emails, just everything goes as it's supposed to." [Michael, 14:29]

"As owners, we have to really really focus on making sure that it is the best it can be, and that's all you have. Basically a studio comes out of thin air, and we create this studio out of putting people and names of classes together." [Micheal, 15:06]

"Studio owners come to me frazzled, trying to do everything, but when you put systems in place and you put people in place for the areas that you hate doing, it allows you to work on your superpowers." [Michael, 24:35]

LINKS:

Learn More About Michael & Get Exclusive Offers from our Partners!

Mitch's Website and Email

Connect with Mitch on Instagram

BizBuySell

Michael's Website and Podcast

Connect with Michael on Instagram

Episodes 217, 215 & 115 with Michael

Send Megan Your Playlist or Discuss the Podcast Here!

fitDEGREE's Business Portal

https://calendly.com/fitdegree/support

[email protected]

https://www.instagram.com/fitdegree/

​​https://www.instagram.com/fitspot_guru/

https://www.fitdegree.com/blog

What We Cover In This Episode:

• New With Nick and a look at how non-alcoholic beverages are getting a rebrand [1:37]

• A recent TikTok trend that we want to have fun with [6:38]

• Megan's thoughts on an instructor's playlist is key [13:35]

• A conversation on early morning classes for instructors [19:10]

• Quick wins and using your fitDEGREE announcement board like a social media feed [25:01]

• Our challenge for you, an action plan to take advantage of social media trends [26:33]

Quotes:

"Your social media is like your own personal marketing suite. You make it all about where you are teaching today, what you are teaching today and how excited you are for that, which apparently means you're going to make everyone else hurt." [Megan, 8:33]

"The playlist has to be fire, and there is nothing better than a compliment from a client saying they really loved the playlist today. You might as well have just written me a love letter." [Megan, 13:35]

"If I had to be there at 5 am, I would be up at 3 am doing my routine. So I can absolutely relate to that, [but] I just couldn't imagine teaching a 5 am class." [Nick, 20:31]

"Admit that it's a vulnerable spot for you as well, but that you're trying to get better. I think sleep and water consumption are two of the most underrated, underappreciated parts of fitness." [Nick, 24:38]

LINKS:

The New Bar Expands its Booze-Free Footprint (Fitt Insider)

Send Megan Your Playlist or Discuss the Podcast Here!

fitDEGREE's Business Portal

https://calendly.com/fitdegree/support

[email protected]

https://www.instagram.com/fitdegree/

​​https://www.instagram.com/fitspot_guru/

https://www.fitdegree.com/blog

What We Cover In This Episode:

• Mitch's unique insights for individuals wanting to buy, own or sell fitness businesses [4:58]

• One of the biggest issues or disconnects he sees when people are looking to buy a studio [13:12]

• The key financing information to consider when buying a fitness business [17:14]

• A look at valuations of a studio, both quantitative and qualitative [18:46]

• Why doing your due diligence is key in this process and what that means when buying a studio [28:48]

• Some deal breakers for buyers and red flags to watch for [34:01]

• What to consider in terms of the "people factor" of the studio [40:22]

Quotes:

"One of the best pieces of advice that I can give people, we call it planting seeds, is just putting those little nuggets out to the universe and see what comes back to you one day. Whether you are a buyer or a seller, any time that you see an opportunity that you think you would be interested in, it is worth just saying it out loud to give it some life." [Mitch, 10:31]

"if the business revolves around the owner it is not set up for success. It has to have those policies, procedures and handbooks. It can't have that one teacher who teaches an unhealthy majority of the classes, where if that one teacher left, half the clients would leave with them." [Mitch, 25:18]

"Remember that fitness businesses are not just a financial investment, it is, but it is a commitment to building community. You want to build and nurture this community, because that's where the real value is." [Michael, 40:52]

LINKS:

Learn More About Michael & Get Exclusive Offers from our Partners!

Mitch's Website and Email

Connect with Mitch on Instagram

BizBuySell

Michael's Website and Podcast

Connect with Michael on Instagram

Episodes 215 & 115 with Michael

Send Megan Your Playlist or Discuss the Podcast Here!

fitDEGREE's Business Portal

https://calendly.com/fitdegree/support

[email protected]

https://www.instagram.com/fitdegree/

​​https://www.instagram.com/fitspot_guru/

https://www.fitdegree.com/blog

What We Cover In This Episode:

• News with Nick and a look at a major gym chain is entering the medical market [1:02]

• Our thoughts on whether boutique fitness studios should incorporate mental health aspects into their business [7:13]

• A few examples of the practical elements of mental health [11:26]

• Quick wins and using the custom reports, events and series features in your fitDEGREE admin [16:38]

• Our weekly challenge for you around mental wellness exploration [19:01]

Quotes:

"I think if you can get your client base kinesthetically aware of how they feel, it does start to tap into that a little bit more authentically. If you're diving into mental health, that's where it might come off as inauthentic and you need to bring a professional in." [Nick, 11:03]

"I think a lot of making wellness a lifestyle approach too is changing your mindset. A lot of people are short-term thinkers [wanting] instant gratification. I don't even think it's a social media thing, I think it's always been there. It's just there's more avenues to get that immediate gratification for people." [Nick, 12:59]

"You don't have to partner with mental health professionals. You don't have to do these things with your clients, like goal setting seminars, ceremonies, check-ins, whatever you want to call them. You don't have to do any of that; your job is to bring them the physical and mental clarity through the services you provide." [Megan, 14:19]

LINKS:

Life Time Launches Longevity Clinics (Fitt Insider)

Send Megan Your Playlist or Discuss the Podcast Here!

fitDEGREE's Business Portal

https://calendly.com/fitdegree/support

[email protected]

https://www.instagram.com/fitdegree/

​​https://www.instagram.com/fitspot_guru/

https://www.fitdegree.com/blog

What We Cover In This Episode:

• What Michael considers his specialty is as a consultant and how he helps others right now [2:17]

• His journey of being an instructor and studio owner to being a consultant to assist others in the industry become successful [5:07]

• Why Michael says that everything needs to start with your mission, vision and value [11:17]

• His insights on creating an onboarding process for your staff and instructors [17:53]

• The single biggest thing people are overlooking when starting a studio [23:44]

• Why it's important to always be thinking about the end game [27:47]

• The first step to take if you're interested in starting your own studio and what you can expect to hear in the next episode we have with Micheal [30:53]

Quotes:

"Every day I'm saying that your studio is only as good as your classes and your teachers, and that's all you've got." [Michael, 4:53]

"Every single studio, whether they're existing or brand-new, needs to have, mission, vision and values, and get the team involved in that." [Michael, 13:16]

"It's making sure you're in that sweet space, it's in your comfort zone but that you can make money off of it. Your two biggest expenses are going to be your people and your location." [25:17]

LINKS:

Learn More About Michael & Get Exclusive Offers from our Partners!

His Website and Podcast

Connect with Michael on Instagram

Episode 115: Industry Tea with Michael Jay

Send Megan Your Playlist or Discuss the Podcast Here!

fitDEGREE's Business Portal

https://calendly.com/fitdegree/support

[email protected]

https://www.instagram.com/fitdegree/

​​https://www.instagram.com/fitspot_guru/

https://www.fitdegree.com/blog

What We Cover In This Episode:

• News with Nick and research showing the link between yoga and longevity [0:47]

• Why customization can be hard for boutique fitness studios and some areas where it can come into play [4:20]

• Using the idea of a "fitness prescription" to offer come customization within your standardized model [10:52]

• Some tips on how to approach offering custom work that will help create new revenue streams or opportunities for your business [15:25]

• Quick wins for the week and some recommendations on what you can do to ensure your business can keep running in your absence [20:31]

• A weekly challenge we have for you that can get you started on this process of documentation [22:31]

Quotes:

"Standardization is a big fun factor for maintenance, growth, all of the things. The more you can standardize and create regular practices with yourself, your staff and your clients, the better off you're going to be." [Megan, 8:01]

"It's very much a good idea to talk to your clients to connect with your clients, to connect with your clients and prescribe within the boundaries of your business what you can do for them." [Megan, 10:58]

"I think the key here is that if you are a boutique fitness facility that offers group classes, customization should not exist within that structure." [Megan, 15:50]

LINKS:

Visit the fitDEGREE Knowledge Base

Send Megan Your Playlist or Discuss the Podcast Here!

fitDEGREE's Business Portal

https://calendly.com/fitdegree/support

[email protected]

https://www.instagram.com/fitdegree/

​​https://www.instagram.com/fitspot_guru/

https://www.fitdegree.com/blog

What We Cover In This Episode:

• Why there is an overemphasis on how to avoid holiday weight gain [3:59]

• Our thoughts on New Year's resolutions in the industry, and the impact they have on physical and mental health during the holiday season [8:14]

• Whether there is too much pressure being put on people to maintain their routines throughout the holiday season, rather than enjoying friends and family [11:36]

• What to look for heading into the new year in this industry of health and wellness [16:44]

• The way check-in reports can be used before the holidays [28:07]

• The way to use the intro offer funnel report to staying on top of your leads at this time of year [29:21]

• Looking ahead with conditional tags in fitDEGREE [29:48]

Quotes:

"I found out very quickly that life is too short to not eat those enjoyable foods during the holiday season and I don't think anyone ever put on 20 pounds of weight from a couple days of bad eating." [Nick, 5:19]

"I think it's more realistic to have conversations with your clients on how to enjoy their holidays than how to restrict themselves during it, or how to make it a very scary thing." [Megan, 6:33]

"I think just helping people start routines or get back on their routine to start the new year, to me is the most important thing. I intentionally let go of my routine as soon as Thanksgiving hits, because I'm not going to be in control and I'm just going to stress myself out" [Nick, 9:33]

"It's just kind of finding a way to meet everyone in the middle during these times of year, [such as] summer and holiday seasons. What is their goal, what is your purpose in their life, and how can you continue to serve them." [15:02]

LINKS:

Visit the fitDEGREE Knowledge Base

Send Megan Your Playlist or Discuss the Podcast Here!

fitDEGREE's Business Portal

https://calendly.com/fitdegree/support

[email protected]

https://www.instagram.com/fitdegree/

​​https://www.instagram.com/fitspot_guru/

https://www.fitdegree.com/blog