How well are you positioned to market your facility to the first wave of baby boomers, 17 million of whom will turn 50 over the next 4 years? A research brief published by FIND/SVP, a knowledge services company that provides research and consulting on such matters, says that many marketers will miss the target because they don’t fully understand the “new set of values and self-images that will affect how [boomers] act and spend.” The brief sorts out the demographic and financial data for this group, which FIND/SVP projects to become a $1 trillion market by 2005.
Check out these Web sites for business advice on various topics, including terminating an employee, using ready-made business forms to save time, improving worker productivity, motivating staff, solving problems and communicating effectively with customers:
Of eminent interest and concern these days to American business owners and managers—including those in fitness—is the floundering U.S. economy. In recent months, the U.S. Federal Reserve has sidestepped its once positive outlook for strong and sustained economic recovery, conceding that the road we’re on has some serious bumps.
The Personal Tr a i n e r ' s R o a d to Success
BY DODY BENKO-LIVINGSTON
How do you grow a flourishing business? Map a course that heads you in the right direction.
Nelson Mandela once said, "Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure." You have the power to achieve success as a personal trainer--but not if you fail to recognize op...
If you have followed the first three segments of this column, you realize by now that I believe management effectiveness begins with the person who looks back at you from your mirror! I have attempted in the initial three segments to give you ways to improve your well-being—a trait all great managers have.
BY MI C H AE L SC OT T S C U D D E R
FORECASTING THE NEXT 5 YEARS IN THE FITNESS INDUSTRY
AN INDUSTRY EXPERT EXAMINES HOW TODAY'S SOCIOECONOMIC CLIMATE WILL AFFECT TOMORROW'S BUSINESS OUTLOOK.
Someone once said that predicting the future is easy; it's understanding the present that's so difficult! That said, I'm still going to attempt to make some predictions about what the next 5 years may brin...
As a writer of promotional material for fitness professionals, I was recently asked to consult on an advertisement for a chain of fitness clubs. The ad’s headline referred to shedding pounds, and below that was a photo of a super-slim woman—captured from midriff to mid-thigh—wearing only a bikini bottom and a tape measure around her waist.
One of the most mundane aspects of running your facility may well be keeping track of the balance sheet. But what an essential task it is! Not only will tracking the numbers make your operation run smoother, if you ever decide to sell your business or apply for a loan, you will impress potential buyers and lenders with your top-of-mind knowledge of your company’s financial health. Gain a better grip on what’s happening in your books, and perhaps your company, by reviewing finances regularly.
The vast majority of new businesses fail because of undercapitalization, according to Stewart Welch, III, a certified financial planner and author. But obtaining the necessary capital is the biggest challenge new ventures face. With 50 percent of small businesses failing within the first year of
operation, banks are loath to lend to such start-ups; lenders look for at least two years of profitability before loosening the purse strings.