126: Small But Profitable Model With Fit In 42
- Author
- Tim Lyons and Randy Angsten
- Published
- Tue 09 Jun 2020
- Episode Link
- https://built-to-grow.simplecast.com/episodes/small-but-profitable-model-with-fit-in-42-ZeFdocv_
We begin this episode by Gerry taking us through their story from when they started their first gym and how they operated without any systems. They went out of business in 2010 when the economy crashed but later came back with one location. A mastermind they signed up for was the game-changer for them. It taught them systems and how to run a business and the importance of having mentors. Currently, they have 5 gyms in two states.
Their business model is having smaller facilities and running lean operations in a highly profitable way. This is mainly to avoid the hassle of a big facility with numerous staff and huge expenses which can quickly drain you. They have found great success with their model. As for the training model, they run large group training in a unique way. They call it large group personal training.
In addition, they have a unique way of opening new locations. They find one superstar coach who has worked with them for some time. This person should be a good person with the right ethics. They groom them to take over the running of a new location. This coach becomes a small partner in the new location and gets a salary and a share of the profits and eventually some equity. This makes them invested in the success of the business.
Key Takeaways
- How Gerry and Casey started their first gym (01:21)
- Running smaller but highly profitable facilities (08:56)
- A unique way to scale operations and operate in more locations (13:59)
- Running large group personal training as their main training model (15:23)
- Why you should work on improving the client experience in your gym (22:49)
- How gym owners can look at additional ways to increase their profits (32:55)
- How gym owners who have been affected by COVID can partner with Gerry and Casey (42:46)
- How Tim’s CLA helped them manage leads and convert them to clients (46:43)
Additional Resources:
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- www.PFMarketingSolutions.com/Automation
- www.CLACourse.com
- www.ProFitGPS.net
- Marketing Talk with Fitness Professionals Facebook Group
- https://PFMarketingSolutions.com/Data
- www.PFMarketingSolutions.com/Call
- www.ProfitGPS.com
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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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