Run a Profitable Gym

On this episode, we talk to Tammy Friedt. Tammy is one our amazing mentors here at TwoBrain, and she recently sold her business!Selling a business or a gym is not an easy task and it takes a lot of patience in order to do it correctly. Today hear directly from someone who has lived through this process and gains some insight and tips into how it all happens. Learn about what needs to be done to prepare and sell a business, what documentation and legal advice you will need, and also we talk about what it feels like after it is all over! Don’t Forget! Find out what stage of entrepreneurship you are in by taking the exclusive Two Brain test here: https://twobrainbusiness.com/test/or schedule your free mentoring call by clicking here! Links:https://twobrainbusiness.com/mentor-item/tammy-friedt/ Built to Sell – https://www.amazon.com/Built-Sell-Creating-Business-Without-ebook/dp/B004IYISQWRig Equipment Evaluation – https://rigquipment.com/Download our FREE guide here: How to Sell A Gym  Timeline:0:20 – Introduction to Selling Your Gym2:01 – Tammy’s background and starting her CrossFit Gym4:36 – What made Tammy sell her business earlier than planned?6:31 – What is the first step in initiating the sale of your business?8:15 – How to assess the value of your gym when planning to sell?12:08 – Negotiating a selling price between the buyer and the seller15:54 – Managing existing leases and existing contracts under your current business19:22 – Divulging information regarding your employees and creating a non-compete agreement21:20 – Approximately how long does it take to sell a CrossFit gym?23:55 – Is leasing to own an option when selling or buying a business?26:29 – The feeling you have when your business is finally sold.33:21 – Two Brain Stories with John Miller

Episode 147 – 1099 or W-2? With John Briggs of InciteTax Recently, I have started to see a trend where gym owners are increasingly being audited by the IRS. Today we talk about such things as how to survive an IRS audit, Tax Planning for the New Year, and what exactly is a 1099 contractor. As the year draws to a close, now is the time to start thinking about closing out your books and taxes for the year. Additionally, John has also bought himself his own CrossFit gym and we check in to see how his new venture is going!  Don’t Forget! Find out what stage of entrepreneurship you are in by taking the exclusive Two Brain test here: https://twobrain.com/test/or schedule your free mentoring call by clicking here! Links:https://incitetax.com/John@incitetax.comhttps://www.linkedin.com/in/johnbriggscpa/  Timeline:1:41 – John Briggs Introduction  2:19 – Why CrossFit gyms are being audited for having 1099 subcontractors4:58 – What does a letter from the IRS look like?7:17 – Is it possible to navigate an audit without expert help?9:45 – The process of answering questions from the IRS11:25 – How long does it typically take for an audit to occur12:59 – Why it is better to communicate with an auditor rather than ignore them14:28 – When should you start to look at preparing your tax return?21:02 – Which tax structure is right for me business? What is an LLC?23:03 – How does tax reform affect a CrossFit gym this coming year?24:15 – John on becoming a CrossFit gym owner!27:50 – How to contact John with Incite Tax30:58 – Two Brain Stories with Brian Bender     

Today we are talking about a very productive task that you can do for any business: mapping a client’s journey. This is all about determining what process you want a client to go through and what experiences you want them to have with your business. Today is all about the big picture and it is also an interactive session so be sure to have a whiteboard or notepad ready to write your own client story!Data shows that the best way to start a client’s journey with your business is through an introductory program like a "no-sweat intro." Here are Catalyst, we want people to come in for an initial consultation where we can determine what the client’s needs are and we can recommend which services are most applicable to them.Some of the most important questions to ask at this point are: What brings you in? What have you done in the past that you liked? What are the things you have done in the past that you didn’t like? The purpose of this part of the story is to point to a common goal that you can team up with the client and conquer together.Another important part of the initial conversation is to make the client comfortable with the gym and feel like they can do the movements and exercises necessary to feel the part. Perhaps they do not need to feel crippled by the most intense workout your gym has to offer, but they do need to at least taste intensity before joining their first group workout. Part of the on-ramp session needs to address what it will take to get the client to this point and be integrated into the gym.The next important component of the client journey is to review the logistics of their first training session. Do they book this session directly with you? When do they pay you for this initial session? Do you give them a gift for joining the gym? Do they need to sign a waiver before joining your gym? These are all tasks that need to be considered while the client joins your gym.Additionally, other important questions that should be continually asked of your client are as follows: What should the client do (It is your job as a coach to tell them exactly what to do!) What should the client know How should the client be rewarded (Checkout BadgeOS)FREE DOWNLOAD: Client Journey Map Template Mapping out your client journey will solve a lot of your business' onboarding problems. Start from the top down and ask yourself what kind of experience do you want your clients to have, what services will satisfy these experiences, and how do you want those services to be delivered. TWO-BRAIN FAMILY STORIES: Phoebee Frost of CrossFit Long Haul (AUS) shares her journey, lessons learned, and experience with TwoBrain.Timeline:0:30 – What exactly is mapping a client’s journey?1:53 – Where does the client journey story start?5:41 – Making recommendations based upon what the client wants.8:55 – Determining the logistics for signing up a new client.13:43 – Organizing the client's first day at your gym.16:03 – The three most important questions to be asking about your client.18:15 – How do I ask a client what do they want next?21:03 – Introducing the Level Method at your gym. 

On this episode, we sit down with Chris Cooper, the founder of Two-Brain Business. Nearly ten years ago, Chris ran into trouble with his first business--a CrossFit gym--and hired a mentor. He began feverishly writing down all the lessons he was learning and blogging them along his journey to help others. Hundreds of blog posts later, Chris launched his first book, Two Brain Business, which is now the bestselling fitness business book of all time! In 2016, he launched TwoBrainBusiness.com and began mentoring other gyms so they could experience the same success he had!  Today, TwoBrain spans the globe with a mentoring team of 21, over 480 gyms in the TwoBrain family, and a growing group of entrepreneurs who don't own gyms.Join us today as we go over how Chris started Two Brain Business, the next steps for Two Brain, and the future of the Two Brain Radio podcast! Find out what stage of entrepreneurship you are in by taking the exclusive Two Brain test here: https://twobrain.com/test/ or schedule your free mentoring call by clicking here! Links:https://twobrainbusiness.com/https://www.facebook.com/twobrainbusiness/https://twitter.com/twobraincoach Timeline:0:44 – The founding of Two Brain Business6:32 – Growing Two Brain Business from this point forward10:45 – How Two Brain is helping businesses outside of CrossFit 13:52 – Where are CrossFit Gyms ahead and where are they behind?19:21 – How can business owners get a leg up within their business?23:50 – Long-term planning of Two Brain Business27:59 – Leveling up the Two Brain Content32:51 – Two Brain Stories with Josh Crill 

Episode 144– The LinkedIn Expert – AJ Wilcox I've always been puzzled by LinkedIn.On one hand, all of my ideal clients seem to be on there. LinkedIn is the social media for professionals, where you can identify high earners and find local entrepreneurs. And I think entrepreneurs are great CrossFit clients: they can afford it; they have a more open schedule; and they understand my rates and my hours.On the other hand, LinkedIn doesn't make it easy to advertise to these people. The news feed is a slow trickle, compared to Facebook's torrent of cat pics and presidential memes.  AJ Wilcox has spent over $100M on LinkedIn Ads. His team manages the largest and most sophisticated accounts on LinkedIn worldwide. He says we have two choices: spend a minimum of $5000 per month on LinkedIn, OR spend nothing. In this episode, he shares the best practices for both strategies to get leads from the platform.  AJ Wilcox has been an online marketer since 2007 and managed hundreds of Google Adwords, Facebook and LinkedIn campaigns. In 2014 he decided to venture out on his own and started B2Linkedin an effort to spread the success he was experiencing on LinkedIn while advertising to other companies. Today AJ is a certified LinkedIn Ads Partner. Join us today as we dive into how you can apply LinkedIn advertising to your CrossFit gym or business. According to AJ, a solid campaign should following the following steps: A – Audience – You’ve got to be able to target your audience efficientlyM – Message – Figure Out what you want to say to your audienceO – Offer  – What are you going to say to get someone’s attention Checkout AJ’s FREE eight point LinkedIn marketing checklist here: https://b2linked.com/checklist/ Links:https://b2linked.com/https://www.linkedin.com/in/wilcoxaj/  Timeline:1:30 – Introduction to the LinkedIn Expert AJ Wilcox3:28 – What is the difference between Facebook and LinkedIn Ads?4:37 – Does LinkedIn contain the target audience for your gym?5:33 – Spending over $100 Million Dollars on LinkedIn6:47 – Getting started with LinkedIn Ads9:32 – Why LinkedIn is more expensive than Facebook and other platforms?11:09 – What can you do on LinkedIn with a small budget and just starting out?14:36 – Obtaining new CrossFit clients using LinkedIn16:28 – Small versus large audience targeting on LinkedIn17:19 – Strategies for getting started on LinkedIn18:30 – The biggest mistakes people make on LinkedIn21:49 – How to approach business to consumer on LinkedIn22:58 – Content that performs well on LinkedIn25:21 – Will LinkedIn continue to grow in the future?27:30 – How important is social proof on LinkedIn compared to other platforms29:09 – One big success story from using LinkedIn31:50 – TwoBrain stories with Brain Zimmerman