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This channel (presented by Two-Brain Business) is packed with business tools for gym owners and CrossFit affiliates. We provide actionable, data-backed business advice for all gym owners, including those who own personal training studios, fitness franchises, and strength and conditioning gyms.
A gym that averages $812 per client per month?
You read that right. Two-Brain's top performers posted incredible average revenue per member (ARM) scores in February 2023 .
Everyone in the Top 10 was above $370, and the No. 1 gym was over $800.
In this episode, Chris Cooper goes over the leaderboard and then shares the secrets of the top gym owners. Some started using onboarding programs, while others increased rates, ran challenges or added small-group training. Regardless of the exact plan, all of our leaders focused on creating huge value for their clients.
Can you get similar results at your gym? Yes! Chris will give you a few tactics you can employ today to serve your clients better and earn more.
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Gym Owners United
1:12 - ARM leaderboard
5:32 - Perspective: your ARM
5:59 - Advice from the Top 5
14:30 - Key takeaways
Chad and Esther Pinther were able to turn their gym around and supercharge their earnings with the help of a Two-Brain Business mentor.
Chad at one time supported his fitness business with money from his modeling career—he's appeared in campaigns for Calvin Klein, Stetson, Patrick James and more. When the Pinthers wanted to shore up the gym business so they could spend more time together as a family, they started working with a mentor.
The results were dramatic.
The two increased gross revenue significantly, but they also increased net owner benefit—what they take home from the business. In fact, the Pinthers earned a spot on Two-Brain's January 2023 leaderboard for owner earnings. Everyone in the Top 10 earned an average of at least US$16,000 a month over a three-month period, and the Top 5 gym owners all averaged $20,000 a month.
In this episode of "Run a Profitable Gym," Chad explains how mentorship helped him create a profitable business that allows him to live the life he wants.
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Gym Owners United
3:34 - Scarcity to Profit First mindset
9:31 - Making projections
13:33 - The turning point
18:09 - Mentorship to help steer the ship
21:06 - Creating value and charging accordingly
29:06 - Increasing average revenue per member
41:48 - Chad's advice to other gym owners
What's your gym worth? How do you calculate the true value?
Chris Cooper has the answer, and he'll tell you how to come up with a hard number in this edition of "Run a Profitable Gym."
In some cases, owners won't like the final number. If you're burned out, run down and out of cash, it can be tempting to just sell the gym. But you could be missing out on cash if you put it on the block right away.
Good news: Chris has seven steps to make your gym more valuable. You can use them whether you want to sell or keep your gym (we hope you keep it). But if you really want to offload your gym, it's best to have a business that's worth selling, and you can add significant value in just six months with a mentor's help.
But get this: Many struggling owners who improve their gyms before sale discover that the revitalized businesses are actually worth keeping.
Whatever your situation is right now, it helps to know what your gym is worth and how you can increase that number—whether you want to sell or build a strong, stable business that becomes a cash-flow asset.
Links
Rigquipment Gym-valuation tool
"How to Sell a Gym" guide
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Gym Owners United
0:39 - How to value a gym
4:59 - 7 steps to increase gym value
13:20 - How mentorship can help
15:38 - Coop's story—raising rates
Is your website bringing you clients or pushing them away?
Bad news: A recent audit revealed 80 percent of gyms have subpar websites that don't encourage clients to buy.
This is a huge problem. A poor website multiplies your losses. If you're spending money on ads, you're wasting it. And if you're lucky enough to generate organic traffic with sound SEO tactics, those people are clicking out without engaging.
In this episode, Two-Brain Business CMO and Kilo co-founder John Franklin walks you through the "5-second test" you should perform on your gym website today. He'll also show you how to audit your website using the "ABC method."
A stands for the "above the fold" section, also referred to as a website's "hero section." That's the stuff you see right when you land on a page. It needs to be clear and direct.
B is for "below the fold." That's the stuff people see when they scroll. You need a brief description of your core service, social proof and a secondary call to action.
C stands for "clear directions on how to start." Visitors should know exactly what to do if they want to take the next step.
Review your gym website today, then take steps to ensure it's helping your business grow.
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Gym Owners United
3:20 - The 5-second gym website test
8:20 - What you need "above the fold"
13:48 - Below-the-fold essentials
17:38 - The secondary call to action
You need cash for your gym right now—so what to do?
Offer a paid-in-full deal? Discount your offering? Sell some of your equipment?
Not so fast. All those options can put your gym in a death spiral. For example, a paid-in-full deal that generates a quick cash infusion often puts gym owners against the wall at the end of the year. And discounts have sunk too many gyms to count.
The good news: Gym owners have some great options when they need cash but don't want to hurt the long-term success of their businesses.
In this episode, Chris Cooper explains how you can generate quick cash without hurting your bottom line in the future. He'll lay out the pros and cons of partnerships, equity sales and bank loans, and then he'll provide tried-and-tested tactics gym owners can use to get cash without punching holes in the boat.
If you need money fast, pick one—or more—of the options and take action today!
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Gym Owners United
0:39 - When Chris got desperate
4:11 - Partnerships, co-ops and bank loans
14:19 - Paid-in-full problems
16:04 - Solid ways to generate cash fast
24:25 - Summary
During the pandemic, virtual fitness training exploded in popularity, and many entrepreneurs are still offering online coaching.
But a new service brings new considerations when it comes to insurance, liability waivers and membership management.
On today's episode of "Run a Profitable Gym," gym-owning lawyer Matthew Becker is here to help you cover all your bases with virtual training—from the wording of your insurance policy to laws that apply to out-of-state clients. He'll give you the info you need to reduce your exposure.
Legal issues can be stressful and costly. Review Matthew's advice to limit risk and ensure your business is operating with maximum protection.
Links
Gymlawyers.com
Matthew Becker on Membership Contracts
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Gym Owners United
3:14 - Step 1: insurance policy
7:51 - Step 2: liability waiver
13:03 - Step 3: membership contracts
Are you attracting or repelling clients as a gym owner?
No, really. Answer honestly.
And if your answer is "no," review these questions:
- Do you get into public arguments online?
- Do you vent to your clients?
- Are you tired, stress and underpaid?
- Do you forget names?
- Do you take people for granted and forget to thank them regularly?
- Do you let your cell phone distract you from high-level interaction?
- Do you avoid self-improvement?
If you answered "yes" to even one of those questions, you have room to grow as a person. And if you do the work, your business will grow, too.
In this episode, Chris Cooper breaks down the mistakes he made as a new gym owner and offers a host of simple tips to help you improve your likability as the owner of a fitness business.
Remember: Clients are more likely to stick around longer when they like you, and there are things you can start doing today to make that happen.
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Gym Owners United
3:34 - 10 tips: hiding, hiring, focusing and more
10:39 - Know when to rant
13:58 - Six lessons from "How to Win Friends and Influence People"
21:29 - The 5 Levels of Influence
In January 2023, Two-Brain's top-earning gym owners took home between US$16,000 and $21,000.
That's not gross revenue or even profit. It's what the owners earned personally. And the big totals aren't one-hit wonders. Our leaders sustained these income levels over an entire quarter.
Gym owner Jodi Butler was on that leaderboard, and she's here to tell you how she did it.
Jodi, who runs Pittsburgh FIT, breaks down the key components of her successful gym, which provides a great income for her and fulfilling careers for staff members. A few of the keys: hiring so the owner can work on the business instead of in it, getting help from a mentor, and placing great emphasis on client retention.
After Jodi pulls the curtain back on her business, she and host Mike Warkentin offer a few simple tactics you can use today to start earning more at your gym, studio or affiliate.
Links
Two-Brain Tinker Program
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Gym Owners United
1:26 - Jodi's journey to paying herself
5:50 - Staffing and benefits
9:10 - Hiring a GM
13:19 - Streamlining with mentorship
28:00 - Strategies that work
What do top-earning gym owners have in common? A lot.
In this podcast, Chris Cooper reviews the gym owners at the top of Two-Brain's January leaderboard for net owner benefit (NOB)—that's what these owners actually took home to their families, not what their gyms grossed.
Each owner in the Top 3 earned more than $20,000 in January, but these aren't one-hit wonders. The stats are based on rolling three-month averages—meaning the owners earned an average of $20,000 a month over a three-month period.
Push these stats out over 12 months and you're looking at gym owners who are on track to earn $240,000 a year from their businesses.
So what are the secrets of top earners? Turns out the Top 15 owners on our January earnings leaderboard have three major commonalities: they use the Prescriptive Model, they have high average revenue per member (ARM), and they use client success managers (CSMs).
Chris talks about each element in detail so you can find the same success as Two-Brain's top gym owners.
One other commonality: All these owners work with a business mentor who helps them save time, avoid mistakes and create strong businesses.
Links
Two-Brain Tinker Program
Book a Call
Gym Owners United
2:54 - The Top 3 earners
5:22 - Commonality 1: the Prescriptive Model
6:57 - Commonality 2: high average revenue per member
7:53 - Commonality 3: client success managers
9:22 - Barriers to earning
18:47 - Why care about net owner benefit?
How did Kyle Counts turbocharge his gym's retention and revenue generation? With the Prescriptive Model.
In fact, he used it to double revenue in short order, and then he used it to drive that number up even further. Now, the simple system is the bedrock of his sales process.
In this episode of "Run a Profitable Gym," Kyle explains how making the change to a consultative approach transformed his business—Condition One CrossFit—for the better. By ditching free trials and actually siting down with prospective clients to find out about their goals, he made more sales, successfully presented more higher-value packages and retained great clients longer by showcasing their results every three months.
The 411 on the Prescriptive Model: Gym owners meet with prospective clients, find out about their goals and prescribe the ideal plan to accomplish them. Then they meet with clients quarterly to review progress and make program adjustments that keep the clients on track.
Use the model today to put your gym on the path to incredible growth.
Links
The Prescriptive Model
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Gym Owners United
1:18 - The old approach
7:16 - The Prescriptive Model
13:52 - Tracking progress
18:47 - Systemizing goal reviews
22:35 - The rewards
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