This post is a summary of a video workshop presented to our coaching club members where we take a detailed look at how you can increase profits and maximize the sale value of a fitness training or personal training business.
In the workshop we look at a case study where a member business developed a strategy to increase profit from $61,000 to $415,000 and increased the value of the business from $30,000 to $620,000.
Watch the video here.
The key messages from this video:
- Key growth drivers rely on an effective sales and marketing strategy
- Ultimate sale value of business relies on your ability to systemize rather than personalize
- Increase number of customers
- Increase number of times they use your fitness centre
- Increase the amount they spend each time they visit
- Increase the profit margin
- Manage overheads
- Start small and manage growth – need to keep training centre looking full (and popular)
- Marketing is lifeblood of business
- Online marketing is critical followed by referrals
- Develop your SCA and understand marketing messaging to hit client need hot buttons
- Understand your break even points and manage cash flow
- Remember to pay yourself a commercial salary (return on effort)
- Focus on business plan for long term goals
- Systemize the sales process to maximize lead generation and conversion
- Maximize customer lifetime value
- Build Goodwill in the brand rather than your personality
Your Business Coaching Club members can watch the full workshop here.
Non members can learn more about the benefits (and stupidly low cost) of becoming a member of Your Business Coaching Club here.