7Total members
For some clubs, this is the only
measure they track. However, how this number is utilized is more important than the number itself. Compare it to your target goal, review the 12-month trend, and evaluate overall member numbers in relation to your strategy. More members isn’t always better. For example, if you have limited space you’ll want to avoid overcrowding, and if your target market is older adults you won’t want to attract a young crowd that drops weights and com- plains about the mellow music.
8Referred members as a
members This number can be a very effective way to see what your existing cus- tomers really think about your club. Even if you have an excellent incen- tive program, it is unlikely that mem- bers will refer at a high rate if they are unhappy.
percentage of total new
Billy Katelnikoff,
B.Mgt., CA, is owner of Power Forwards Chartered Accountant Firm which provides chief financial officer services with an emphasis on improving profitability and mak- ing key organizational decisions for privately owned fitness clubs in Canada. Contact him at
www.powerforwards.ca.
month-over-month and year-over-year sales can be a powerful opportunity finder. But realize that sales are driven from all three of the perspectives dis- cussed here, so look to see which of them are doing well and which are not.
FINANCIAL PERSPECTIVE 9Total sales
Understanding the trends in your 10 Income from operations
itability is more important than sales because it is ultimately the key finan- cial driver of your business. Profit al- lows the company to reinvest, reduce debt, and/or provide a return for the owner(s) of your club. FBC
At the end of the day, your prof-
Health clubs use MTS for: Increased payment fulfillment
Consistent cash flow Improved reporting capabilities Enhanced customer relations Increased renewal rates
Call us toll free for a
free receivables management analysis 1.866.588.6368
www.merchanttreasury.com
Make Recurring Billing your Friend.
We’re a Canadian company with the technology and expertise to handle your payment processing needs.
Fitness is changing. Change with it.
Join the Mindful Movement. ™
With 25 years of experience refining the STOTT PILATES methodology, Merrithew Health & Fitness™ ®
has emerged as
the leader in mind-body training and fitness equipment. We can help you design the perfect mind-body program— training and equipment—that meets the needs of your diverse membership.
e:
equipment@merrithew.com merrithew.com
September/October 2013 Fitness Business Canada 23
4316 ™/® Trademark or registered trademark of Merrithew Corporation, used under license. All rights reserved.
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