Revenues and Expenses
How you budget and monitor results greatly impacts net revenue.
riting the operating budget is an annual chore. Chore? Your accurate budget is a blueprint for an effective operation. Monitoring expenses and revenues allows you to immediately make corrections to ensure that at the end of the year you have a profitable
department or business. The revenues and expenses repor...
B Y H E L E N VA N D E R B U R G
How to Obtain and Retain Group Fitness Instructors
Instructors are the key when it comes to delivering successful group exercise programs. What are you doing to hire and retain the best instructors?
Quality group fitness programming fulfills members' motivational needs and has proven itself time and again in clubs through high memberretention rates. What's the se...
Weathering an Economic Slowdown in the Fitness Industry
What facilities and staff can do to succeed in today's cloudy economic climate.
Nobody likes to talk about an economic slowdown.
People at all levels of the health and fitness business worry enough about their companies in good times; hardly anyone wants to think about potential bad times. It is scary to think of consumers pulling back on sp...
How to Obtain and Retain Personal Professional Fitness Trainers
What's the secret to hiring and keeping great personal trainers? Create an environment in which personal trainers can be treated as professionals.
BY EVERETT AABERG During the past 15 years, I have worked as a private contractor, served as an employee, been an entrepreneur, taken on management duties, directed a personal training sta...
Over the last three issues, this column has followed the story of “Mark,” a former club trainer turned entrepreneur who opened his own facility in Smithville, USA, using $100,000 of his own money and $400,000 in investment capital from his brother-in-law, his parents and a personal training client. After struggling for two years to make ends meet and suffering a substantial loss in personal income, Mark entered the third year of his business with a corps of disgruntled investors,
a facility operating just under breakeven and
Most fitness facilities spend thousands of dollars on advertising in the hope of recruiting new members. Once a campaign is launched, if people don’t immediately start calling or
walking through the doors with their checkbooks in hand, everyone is disappointed. How do you get the results you are looking for? Follow these 10 guidelines.
What are your short- and long-term goals for the business?
How will you differentiate yourself from the competition?
What will your carrying costs be for the kind of facility you want?
How much will you need
to charge for memberships in order to meet your goals and net a profit? idea fitness manager/may 2001
idea fitness manager/may 2001 programs
Every facility follows a business model, which impacts all costs,
including salary levels. When looking at these figures, keep in mind how costs are associated with revenue. For example, it is simpler to
associate the cost of a personal trainer with the revenue of a session fee than it is to associate the cost of a fitness instructor with the revenue of a membership fee, which allows access to an entire facility. These cost-revenue associations may impact compensation.
How much equipment can fit into how much space at what cost?
a reality, though, can be quite a challenge.
How much space is needed? What kind of equipment will it take? Can the overall objectives be achieved within the designated budget? Many questions must be answered to successfully outfit and open a facility. This article presents a basic overview of how to gauge space and equipment needs for...
Each year business owners and managers in the fitness industry spend millions of dollars promoting their
facilities and trying to sell memberships. Every form of media is utilized
—television, radio, direct mail and so forth. And yet, when we ask those
customers who do end up joining our clubs how they heard about us, the number one answer in my many years of experience remains the same: word of mouth. Here’s what I hear: “My
sister is a member.” “My neighbor
encouraged me to join.” “My friend
at work brought me as a guest.”