Fitness Business

What's your fitness business income goal for the next 12 months? What's your plan for accomplishing it? Have you done the assessing, forecasting, and planning to hit your target?

Let me give you a few more clicks on the dial you can use to hit those targets this year.

1.Raise prices -- Too many folks charge too little for the value they deliver in their fitness business. When was the last time you raised yours? If you're saying "I can't charge anymore to my clients" then maybe you're targeting the wrong clients for your services. Offer high priced 'private' and exclusive services to the affluent or ultra-affluent.

2.Increase transaction size -- How are you packaging and selling your fitness business services right now? May there be some room for expansion in this area for next year? What if you simply added a larger package on your menu, how many would take it? Note I didn't say discount it, I just said offer a larger package or longer term contract.

3.Increase your margins -- How much are you charging, what does it cost your company to fulfill it? Is this spread as good as it could be or are you overpaying for 'diva' trainers that are super 'experts.' Might be time to revisit this one -- hire personality and attitude, and then train everything else.

4.Start offering additional products and services to your customers -- The smart fitness business owners we've worked with, have ALL expanded their offerings to include multiple products and services. Private training, small group training, boot camp, corporate fitness, in-home training, nutrition counseling services, nutrition products, information products, and more. This is one of THE fastest and easiest ways to grow your business. What ones are you already doing and have good traction with, what new ones could you add, what ones are you doing that need more work to be maximized? How have you prioritized your investment of time/money and the return each will bring you (in the short and long term)? Do some more review and analysis here.

5.Add another continuity program -- If you are NOT building some type of continuity program in your business (boot camp or group training, back-end nutrition auto-ship products, gym/studio 'memberships') then it's time to get on with it already. If you're offering one already, what new one could you add to your offerings for 2010?

6.Develop customer value -- Simply stated, over-deliver and then sell more to those who are already buying from you.

7.Increase your business value -- How saleable is your fitness business? Do you have a strong database and plug-n-play marketing, sales, and management systems working in your biz? If not, what needs to become more plug-n-play in order to make your business incredibly valuable to a buyer? Have you thought through an exit strategy? If you've never even considered one, what would one look like one day if you wanted to exercise that option? Something to ponder...

8.80/20 rule -- 20 percent of the things you focus on will always deliver 80 percent of your results. That means it's real important you get clear on what is your 'unique ability' as an entrepreneur and fitness business owner. ... and build a team around you to handle everything else. If you're still dealing with head trash about who you are and WHAT your role and responsibility is to your biz, time to get clear on this now. Note: as you continue to grow, it's important you continually refine and get more clarity here. When you do this, growth gets easier because you're leveraging your strengths and getting smart. Not running around like a chicken with your head cut off anymore like your first year in biz.

Labels: fitness business, fitness business tips, gym marketing, personal trainer marketing