Do you have a 2020 vision?
Do you have a clear view of what you’re going to do in the new year to grow your business even more?
As 2019 closes, it’s important to take stock. What can you improve to ensure a higher-quality customer experience and more revenue in 2020?
Let’s take a look at four areas that impact your business going ahead so you set yourself up to succeed.
As the health and fitness industry continues to evolve and grow, staff diversity and inclusion efforts are becoming increasingly important. The U.S. Equal Employment Opportunity Commission mandates that job applicants and employees cannot be discriminated against “because of their race, color, religion, sex (including pregnancy, gender identity and sexual orientation), national origin, age (40 or older), disability or genetic information” (EEOC n.d.). However, making a conscious effort to diversify goes above and beyond following the law.
Discover what diversity means and what you should consider as you put together a diverse staff.
You know the work it takes to get a new customer in the door. You’re spending money on marketing, time making sure your website listings are right, and energy on promotions and intro offers to get the word out. It’s not easy. But remember—it costs less to keep an existing client than it does to acquire a new one. Getting them to return again and again will help you keep your lights on and your business bustling! With that in mind, let’s look at three actions you can take to retain your clients.
A number of tried-and-proven options to attract new members and clients can help you grow your business without reinventing the wheel. You can join a franchise system, license the rights to an established brand or invest in instructor training to build a specialty business. Each option has an opportunity cost (what you might lose if you don’t choose the particular option), as well as benefits that you might gain. Among these choices, franchise systems offer many advantages.
An experience: That’s what exercisers want in order to feel inspired and motivated. In the fitness industry, one of the key places where this experience occurs is within a group fitness community. It doesn’t take a big-box gym or a trendy fitness boutique to give participants an amazing experience. With some creativity, flexibility and determination, even the smallest fitness facility or studio can offer a dynamic group fitness program that will give members the experience they crave.
One day, while stretching my client Jim, I was taken aback when I realized he wasn’t wearing underwear. His shorts were swim trunks with interior netting. I quickly looked away and continued to stretch him. This happened with Jim on several other occasions, but I never mentioned it because I wasn’t sure how to broach the matter. I also didn’t feel as if he was doing this intentionally, nor did I believe he meant harm.
Are you thinking about selling your personal training studio or fitness business? Your business is probably your primary source of income, and selling it will mean you’ll lose that annual income but achieve a one-time capital gain. Are you prepared for that? IDEA member Toby Davis, senior adviser at Sun Acquisitions, Chicago, shares the following tips for anyone preparing to turn over the keys:
The success of your business relies solely on your ability to attract and keep clients. Use these tips to enhance the client-trainer relationship so that you can focus more on providing quality service to your current clients and less on finding new ones.
Artificial Intelligence (AI) isn’t just a subplot in your favorite science fiction show! For years, AI has been hyped as a movement that would change the world, but the past 5 years have ushered in a revolution. In short, AI is the creation of “intelligent machines” that mimic humans (think speech recognition, learning, problem solving, etc.). Computers can see, hear and speak to us in a very human way. Products like Siri, Amazon Alexa and Google Home have almost seamlessly entered our lives and homes.
You’ve worked long and hard to get your fitness facility off the ground, and while you’re doing okay in your community, you’ve noticed some of your membership base trickling away. Upon further investigation, you realize that while you’ve had your nose to the grindstone, managing your facility and planning for growth, a discount club has opened up not far from you. Not only that, but a handful of specialty boutique studios have carved out some market share. Where do you fit in, and what can you do to keep your place?
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