financial position and determine what is practical for your company. Another way to increase the spend per member is in your
membership fees and agreements. Higher monthly fees for new members and club enhancement fees (to help com- pensate for new equipment, for example) are two options. However, external factors such as competition and economic environment as well as internal factors such as club offerings and existing membership dynamics all need to be considered.
Measurement tip: Compare membership percentage par-
ticipating in ancillary services to total revenue and income from operations.
determine if you could you execute current key activities more efficiently. For example, can you spend your marketing dollars more wisely? Could you make improvements to your sales, existing member contact and communication, club maintenance or hiring processes?
4 Increase the efficiency of processes Measurement tip: Compare net revenues to salaries to
operating expenses as a percentage, net new members and operating income. FBC
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 making key organizational decisions for privately owned fitness clubs in Canada. Contact him at
www.powerforwards.ca.
LeBOOT with Marc Lebert LTS Lebert Training Systems with Sharon Mann LeHIP I LeBarre with Jenn Hall Le
Introducing our NEW Group X Programming
www.LebertFitness.com/LTS January/February 2014 Fitness Business Canada 29 Before adding activities and initiatives to grow your club,
How to Demand the Best from your trainers!
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