How is the Industry Doing—Really?
“For starters, club operators need to “Stay focused on core operations,”
understand how they stack up against advises Pete Moore, a principal and head
their successful peers in the industry,” of the active lifestyle and wellness practice
suggests Rodriguez. “Profiles of Success at Sagent Advisors, Inc., an investment-
allows them to benchmark their club’s banking firm based in New York City.
performance on many key operational “Use e-mail marketing and digital media
metrics. It’s clear from the results that to attract and keep your members. Grow
the stronger operators have used the at a pace you’re comfortable with. Don’t
recession as an opportunity to improve over-leverage your company to the point
John McCarthy
their business practices.” that you can’t sleep at night.”
“Manage better, quickly cutting expenses and
programs that aren’t needed… When you think
you’ve cut to the bone, there’s probably still
another 5% or 10%, or more, in expenses that
you can eliminate.”
Dave Remick
The Workbook section of Profiles of “Manage better, quickly cutting expenses
Success makes it easy for owners and and programs that aren’t needed, rather
operators to compare their club’s perfor- than waiting until next month,” suggests
mance with that of leading organizations. Rick Caro, the president of Management
After doing so, they can then revisit and Vision, Inc., a prominent industry consult-
review the factors that are critical to run- ing group based in New York City. “Don’t
ning a successful fitness business—e.g., wait for things to get worse. When you
increased club usage, sound cost con- think you’ve cut to the bone, there’s prob-
trols, solid member retention—that ably still another 5% or 10%, or more, in
remain applicable regardless of the state expenses that you can eliminate. Work
of the economy. hard to maintain or improve your EBITDA
Industry experts confirm and endorse or EBITDAR number.” —|
the insights that a reading of Profiles of
pete Moore
Success provides. – Patricia Amend, pamend@aol.com
WHeRe TO GeT PROFILES OF SUCCESS
The 2009 Profiles of Success report may be purchased at www.ihrsastore.com.
New, this year:
• more information on fitness activities that consumers enjoy both inside and outside clubs;
• a quarterly tracking study that analyzes motives and barriers for joining clubs;
• and analysis on club performance from IHRSA’s monthly trends and Quarterly Index surveys.
The report is based on data generated in 2008, which was voluntarily submitted by 124 leading club companies,
representing 1,315 facilities in the U.S. and Canada. Profiles of Success provides an overview of the industry, as
well as metrics for a wide variety of financial and operating functions for different types of commercial fitness
facilities. The PDF version of the entire report is available to IHRSA members for $199.95, and to nonmembers
for $399.95. Sections of the report are $69.95, each, for members, and $139.95 for nonmembers. —|
68
Club Business International | MARCH 2010 | www.ihrsa.org
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