Where do you stand? Could business be better?
Quick – answer these questions:
1. How many active members do you have? 2. What’s your conversion rate? 3. What’s your gross net profit? 4. What’s your staff turnover rate?
Many clubs struggle simply due to a lack
of business structure, systems and data collection, say the experts. If you don’t have the answers to the above four questions at your fingertips, you don’t truly know where your club stands today and you won’t know when you’re improving (or when business starts to nosedive). A consultant can help you systemize your
business. Alternatively, there are scores of programs, books and seminars that teach club owners about systems, and many offer templates you can put into action immediately.
Ask an Expert
Q: Where can I find a club consultant? A: Contact non-competing clubs, ask suc- cessful club owners, connect with speakers at conferences and industry events, and/or do some online research. “Look for some- one who has a track record of helping peo- ple with businesses like yours,” suggests Pat Rigsby. “A consultant with only big-box-club experience might not have the insight and best approach for the owner of a personal training studio.”
Q: How much does consulting cost? A: Rates depend on your needs, location, whether the coaching is on-site or remote, and whether it’s for just one day or for sever- al months. “A consultant typically costs sev- eral thousand dollars for onsite consulting and no less than $200 per hour for phone coaching,” suggests Rigsby. But even a small expenditure can be a
smart investment. “Once you apply the in- formation and increase your revenues, you can roll the money back into more coach- ing,” says Rigsby. “If your budget is tight, you may be able to work a deal where payment is based on the revenue growth achieved through the work done with the consultant.”
Crack Open the Books There’s no shortage of books about finding
success in the fitness club industry. Here are four recommendations.
Winning by Jack Welsh Written by the former chairman and CEO of General Electric and one of the most influential businesspeople of our time, Jack Welch offers wide-ranging and entertaining insight on performance reviews, mergers and acquisitions, strategy, budgeting, hiring and firing, and more. Recommended by Jeremy Klugerman
The Reluctant Entrepreneur by
Jean Thompson An excellent read for newer business owners, this book focuses on the different stages that owners face as their businesses move from new to intermediate to mature. A sister book for the more-established club owner is Ready Fire Aim. Recommended by Pat Rigsby
The Go Giver by Bob Burg and
John D. Mann This book is centred on the philosophy that you have to give to get back and that those who give have more success and more long-term success. Recommended by Pat Rigsby
Blind Spots: Fearless Leadership
by Loretta Malandro Blind Spots shows you how to discover your leadership blind spots and how to correct them. According to the author, if you have the courage to see yourself as others do, correcting your blindspots is one of the easiest ways to become a better leader. Recommended by
www.rexroundtables.com
March/April 2013 Fitness Business Canada 23
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48