In the world of wellness and fitness programming, the days of all-inclusive services and programs are numbered. Thanks to the recession, fee-based programming has become increasingly valuable. Our industry has encountered the same financial challenges as other industries, and fee-based programming is part of our new reality.
I don’t know about you, but I’ve had some opportunities in my life that I’ve let pass me by because I was afraid of failing. The good news is that I figured out the power of failure many years ago. The bad news is that I still see many people passing up opportunities, as I once did, simply because fear of failure tends to inhibit forward thinking.
According to the Center for Women’s Business Research, women own 40% of the privately owned firms in the United States. The International Health, Racquet & Sportsclub Association (IHRSA) reports that 19.2% of its member clubs are owned by women and 18.8% have male and female co-owners. As more women dive into fitness business ownership, it’s important to understand the unique demands placed on them.
All clubs have cardio and strength training equipment; it’s the programs you offer that differentiate you from the competition. Programs are often the deciding factor as potential members choose which club to join.
Offering programs that your members want to participate in keeps them using your club, which in turn boosts retention. On the other hand, opening up your programs to nonmembers increases your chances of signing up these participants as members, because of the great experience you provide during the program.
Enormous discussion has revolved around the many financial pitfalls that loom during a struggling economy. However, there is hope for motivated self-starters interested in starting a business. According
to Josephine Nicholas, chief operating officer of Published Daily™,
a “tech company whose aim is to help professionals generate more
referral business,” entrepreneurs are suited to thrive during a recession. Nicholas lists five top reasons entrepreneurs will succeed:
In a time of sweeping global change and a shifting economic climate, fitness professionals around the world are gauging the potential impact on their careers and businesses and adapting to stay on track. We asked fitness pros to tell us about the extent of the economy’s effect on them, and what they are doing to meet the challenge.
Survival Tactics and Success Strategies
Fitness professionals share these tips for overcoming economic challenges:
Despite the traditional name-calling, backbiting, mudslinging and criticism that seem to characterize U.S. presidential races in modern times, during this past campaign season one word was emblazoned on the minds of all Americans: Change. People want change. Change the economic situation, change healthcare, change the banking system, change energy reliance, change, change, change!
When the average consumer hears the term personal trainer, does it evoke the image of a leader or educator—or of a glorified workout partner leading a tough training session several days per week? Perhaps more importantly for our industry’s future—how do we, as trainers, perceive ourselves?
You probably already recommend health and fitness products to your clients. What if you could receive a cut of the profit when clients purchased stuff you told them about? This technique is called affiliate marketing, and it’s one way to bring in revenue without having to actively provide a service, as you do with one-on-one training.
Man, times sure are great, aren’t they? You’re doing what you love working in a thriving industry of infinite opportunity, getting paid tons of money and also making a real difference in people’s health and fitness.