1. EachPod

117: Should You Change Your Business Model After Covid-19?

Author
Tim Lyons and Randy Angsten
Published
Thu 07 May 2020
Episode Link
https://built-to-grow.simplecast.com/episodes/117-should-you-change-your-business-model-after-covid-19-qecbWNOw

In this episode, Tim and Randy will address everything that’s going on in the fitness industry due to the effects of the COVID-19 pandemic. Businesses (including gyms) are still shut down save for the state of Georgia which is slowly re-opening businesses, and it’s expected that other states will follow suit if governments are able to ensure that there are no new cases of infections. But considering that the risks are still going to be there, gym businesses will have to ensure their existing and new members that their facilities are safe for them to use by implementing stringent health and safety (with lots of cleaning) protocols.

This will be a great time for a gym owner to make changes in their gym as they implement the protocols because clients will be in the mentality of expecting changes. Gyms will be expected to keep their clients six foot apart, safe, healthy, and happy, and any gym that will fail in that will lose clients fast and be out of business. Tim has been implementing that at Pulse Fitness, and he started with looking at their different memberships levels to determine what drives the most revenue in the business. He found that it’s their semi-private training, which usually has five clients per session, and he has now decided to raise the number of clients per session to six.

That also prompted him to decide on gradually ending their team training, which usually has up to 20 people per session, because the revenues from it are not so appealing compared to semi-private, and because with team training it would be much harder to ensure the necessary COVID-19 prevention protocols. Listen in as they dive deeper into all the changes that Tim is making at Pulse, and hopefully, you can pick up somes ideas that you can implement at your gym to better prepare for what’s coming. 

Key Takeaways:

  • Reflecting over the last five weeks to try to figure out and navigate what the new normal is going to be (01:48)
  • The importance of communicating the health and safety protocols you’re taking at your gym (04:11)
  • Phasing out the team training (boot camp style training) to be in a more small group atmosphere (08:59)
  • Locking in on the customer experience of 6:1 for their semi-training (14:56)
  • Keeping the online program and helping gym owners take advantage of the current opportunities (21:02)

Additional Resources:

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If you are interested in a free audit for your gym, visit http://bit.ly/free_gym_audit

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You can find out more about Tim and the strategies covered in this episode by checking out our website.

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Head over to our YouTube channel to watch this episode by going here

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