Apr 02 2024 23 mins 1
Many gym owners believe they've hit the max on how much money they can make. It can feel like running into an invisible wall.
Whether it's $30,000, $35,000, or $70,000, moving past those numbers can sometimes feel impossible. Even when you think you're making some progress, you might find yourself sliding back down. Frustrating, right?
Many gym owners face this challenge. So, the real question is: How can we continue to grow past these barriers?
In this week's episode, Tim and Randy are unpacking several ways to break through your gym's income ceiling.
They'll talk about small changes, like tweaking how many clients each coach handles, which can increase your gym's income without additional expenses. Plus, they'll cover big moves, like updating your membership model and scheduling to ensure steady cash flow.
But there's more to it than just numbers and strategies.
The key to breaking through income ceilings is being open to change and new ideas, focusing on recurring revenue, and making the most of what you've got. It's about clever, lasting ways of doing business that ensure long-term profitability.
If you want to increase your gym's earnings using tried-and-true methods and wise risk-taking, this episode is for you.
Join Tim and Randy and let them help your gym make more money.
Key Takeaways:
- Intro (00:00)
- Breaking revenue ceilings (01:07)
- Increasing client capacity per session (02:26)
- Expanding operational hours (04:31)
- Raising rates and diversifying revenue (10:25)
- Parallels between your gym and a restaurant (12:51)
- Membership model and recurring revenue (14:21)
- The danger of high coach compensation percentages (21:08)
- Creating an experience to keep gym clients long-term (22:55)
Additional Resources:
- An app designed for semi-private training - Semi Private Pro
- Join the waitlist for tickets to the 2024 FitPro Growth Summit
- Business Accelerator Program winninggym.com/call
- Learn more about The Iron Circle
- ProFit Accelerator: Helping Training Gyms Grow to 30K/month and Beyond Facebook group
- Jump on a call with Randy
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