Run a Profitable Gym

Episode 55 – The Path to Profit On today’s show, I replay a webinar entitled “The Path to Profit”. CrossFit gyms are doing great at keeping people healthy and fit but not that great at pursuing excellence in business. Many times they are martyring themselves -- admirable in the short term but not in the long term. Owning a gym requires a long view and a pursuit of excellence in business. This is not about buying yachts but about being around for years to come. In order to make this happen, it is necessary to get on the path to profit. This is an interactive webinar so be sure to grab a pen and paper to take notes along the way! In this episode: My Gym's Backstory How to get on the Path to Profit How to determine the amount of clients you need Why are gyms not more successful How to implement the Prescriptive Model Plus: An interactive goal setting exercise The step by step math to making a profit How to retire as a gym owner Question and answer session Goal Setting Exercise Questions What do you want to make in 2017? What are you going to learn in 2017? Where will you travel in 2017? What needs to be upgraded in your in 2017? How will you help other people in 2017? Timeline: 0:18 - Path to Profit Introduction 1:28 - Start of Path to Profit Webinar 3:10 - Learn about Chris Cooper’s Backstory 6:26 - The Underpants Gnomes 8:11 - Fitness vs. Business model and how to balance 9:02 - The basis of making a profit is consistency 11:45 - How to have a dedication to service 13:59 - Grab your pen and paper for a goal setting exercise 20:10 - Do we have to modify profit goals for emotional goals? 22:00 - The step by step math to making a profit 24:09 - Practical ways to build multiple revenue streams 26:21 - Dunbar’s number or the maximum relationships you can retain 27:48 - Unlikely sources for diversifying revenue streams 29:07 - How to determine the amount of clients you need 30:30 - Focus on the easiest goals first 32:06 - Moving from low value goals to high value goals 36:25 - How to implement the prescriptive model and become an authority 40:05 - How the heck do you retire from being an affiliate owner? 41:20 - Why you should focus on the top 10% of potential clientele 43:42 - The REAL Reason gyms aren't successful 46:26 - Q+A TwoBrain mentoring clients get the full webinar with slides and downloads, as well as two more in December!

Do you need to win to WIN?

I used to HATE retail. But I fixed my retail operation. And I asked Matt Albrizio (Forever Fierce) and Bruno Guevremont (Syndicate Gear) to come on the show and tell YOU how to do the same. I no longer inventory extra shirts, or lose money buying stuff my clients don't want. These guys came up HUGE: they put together videos and templates to help. Bruno offered to send a free sample box to any affiliate who wants one. Matt has given you preorder forms and access to his private "reminder" calendar - which makes me thousands every year. It's a huge gift, and thank them for it (not me.)

Are your actions having any effect? Can you prove it?

Jeff Burlingame is the owner of Friction CrossFit in MI, but he spent most of his career managing globo gyms, where he taught staff how to do more personal training business. At one point, he had 160 trainers working under him. Jeff studied sales techniques for a decade, but after reading "Help First," he realized the best path was to simply help his clients by recommending the best option for them. Now he combines an objection-based approach with the TwoBrain "No-Sweat Intro" and the results are staggering: He's already hit 250% of his 2015 revenue in 2016, and he still has a month to go.Jeff mentions his "WhyNot" sheet, and walks through each question in the podcast. He's sharing the sheet with Two-Brain mentoring clients for free.In this interview:-Jeff’s CrossFit story Learn how to sell more personal training sessions at your box-Different types of personal training sessions and how to tailor these to your clients-Breakdown of a proper client assessment and needs analysis-Jeff’s “WhyNot List” is covered in-depth-Plus: Balancing family and business-Selling Treadmills and badmouthing CrossFit-Birth of Friction CrossFitAbout Jeff Burlingame: Jeff Burlingame started out playing Rugby at Michigan State where he received his B.S. in Exercise Science and Fitness Leadership. Wanting to continue with sports and athletics, he became a sales director and personal trainer director for many leading gyms throughout the country. As Jeff’s career advanced and time spent at home with the family became less and less, he was ready for a change. It was at this time that he decided to open Friction CrossFit. Through many ups and downs, Friction CrossFit is now a successful CrossFit affiliate based out of Grand Rapids, Michigan.Jeff’s Why Not List, for overcoming rejection from new clients is available to members of the Two Brain Business Family exclusively. Be sure to check it out!Remember to fill out the 2016 affiliate survey. This important survey allows us to better serve affiliates and also allows some time for reflection on where your business has been and where it is headed.Timeline:1:32 Jeff Burlingame Introduction3:14 The Jeff Burlingame Story4:40 First Personal Training Experience7:28 Finding CrossFit11:05 Opening a CrossFit Gym16:26 Full Time to Friction CrossFit18:32 How to Sell Personal Training25:35 Creating New Clients29:48 Which Training Program Is Right32:43 Client Body Analysis35:33 Proper Client Needs Assessment43:50 Why is Personal Training Important?Contact Jeff:http://www.frictioncrossfit.com/about/meet-the-coaches/ https://www.linkedin.com/in/jeff-burlingame-68380286 https://www.facebook.com/people/Jeff-Burlingame/38512666 https://www.facebook.com/frictioncrossfit/?pnref=lhc 

What difference did TODAY make? Did you move your business forward...or just go to work?

Where are all the millionaires?After five weekends on the road, Chris reflects on conversations with box owners; the need for models of business success; and how TwoBrain is helping.Then he addresses the "9 Myths Gym Owners Believe" from a blog post last week. The myths were:People join CrossFit for “the community”The most important number to track is how many athletes you haveEveryone except you is doing wellClients choose a gym because of its workout programmingPeople in your town are scared of the word “CrossFit”Average household income in your area mattersPeople seek a low price-point to startGyms with 300 members are successfulSharing thoughts on the election is a great ideaHe also mentioned to the "Should You Deaffiliate?" Podcast (episode 38).

What job are you doing now - a $5 job? $50 job? $500 job?What SHOULD you be doing instead?

On this episode, I provide an excerpt from my book Help First: Sell Less, Profit More. (here it is on Audible.)Content marketing is a critical skill for gym owners (and anyone in the service industry.) If you're using the CrossFit brand, it's especially important.HQ has done a fantastic job of making your audience aware of CrossFit. That's their responsibility. Bridging the gap between "What's CrossFit?" and "Here's how CrossFit is going to solve YOUR problem, Mr. Jones" is your responsibility. Content creation fills that gap.I introduce the episode with a few examples of the content I use on my Catalystgym site; mention a few others in this space, and why we believe the authority of non-experts; and then give you a 30-Day Challenge that you can use with your coaches. The Challenge will generate momentum in your community, push people who are "on the fence" toward your service, and help your coaches share their expertise.Tags: @twobrain, #twobrain, @twobrainbusiness on Facebook on InstaGram.Download FREE TEMPLATES for a lot of my content strategy here.The biggest takeaway: content doesn't have to be perfect. Just start publishing.Like this article? Fill out our 2016 Gym Owners' Survey so we can create MORE in 2017!

What are your goals for 2017? Here's how to set them.