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Why hire a Membership Sales Coach when I already have a Sales Manager in my Gym?

Fitness Center Broker, Fitness Center Valuation, Gym Broker, Gym Equipment, Gym Valuation, Gyms for Sale, Health Club Broker, Health Club Valuation, Health ClubValuation, new gym start up November 16, 2018

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Most health clubs already have a membership sales manager or someone who is in charge of membership sales production in some capacity, so why hire a sales coach for the membership department? Many sales managers are not trained in the subtleties of effective gym sales training nor have they developed the necessary skills and tools to be effective sales leaders. The most common way to hire a gym sales manager is to simply promote your best sales person in the membership department. This logic suggests this person is the most qualified to lead the membership sales team based on their past membership sales achievements. This type of promotion by necessity is common, but not commonly successful. In the process you may even lose your top membership sales performer when their leadership abilities fail to match their sales ability.

The key reason being: Great gym sales people don’t often make great gym sales managers.

Why? This is largely due to the behaviors inherent to traditional individual gym salesmanship. At the risk of generalizing, these individuals can be highly competitive by nature and many can often be found running by their own set of rules when comes to making a membership sale. Many sales superstars can be described as egocentric, disorganized, manipulating, persuasive and let’s not forget charming. Often embodying the true entrepreneurial spirit, the sales superstar by nature will just get out there and make things happen. And yes of course, they may even cut a corner or two in the process. This poses an interesting but challenging dilemma for their gym sales managers or club General Manager.

To promote such individuals to a gym sales manager is to promote the same individual behaviors. More often than not, these behaviors are challenging to replicate successfully without ramification. The decision to do so will play a huge role in developing your gym sales culture. This is why so many gym sales teams operate by the 80/20 principle, with 80% of the membership sales being generated by 20% of the membership sales team and the rest merely making up the numbers. Usually the successful few are doing things very differently based on what they know or have learned in the role through their own positive and negative experiences in sales or in the gym industry. The normally enthusiastic but struggling majority is left to make up the numbers. Gym sales models that demonstrate this type of unbalanced success are clearly lacking the right leadership, sales support and sales coaching structure in their gym.

A gym sales coach’s role in the above scenario would be to coach the membership sales manager and membership sales team members to demonstrate common habitual behaviors and skills across the entire team for optimum membership sales team performance in the health club membership sales department.

Now, go close a sale!

Jim Thomas is the founder and president of Fitness Management USA Inc., a management consulting, turnaround and brokerage firm specializing in the gym and sports industry. With more than 25 years of experience owning, operating and managing clubs of all sizes, an Outsourced CEO, Thomas lectures and delivers seminars, webinars and workshops across the globe on the practical skills required to successfully to overcome obscurity, improve sales, build teamwork and market fitness programs and products. In addition, his company will buy gym equipment from gyms liquidating or closing. Visit his Web site at: www.fmconsulting.net or www.jimthomasondemand.com.

Tedious Gym Management Tasks that Can Be Automated

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Reposted from www.abcfinancial.com

There is no longer the time nor the place for tedious, manual tasks involved in managing your gym; automation is taking its place. Time is too valuable to waste, and with the industry growing at 3% annually, integrating efficiency into your gym operations to keep up with competition is imperative to your success. Even the simplest tasks can be automated to save you time and add a layer of professionalism to your gym. With the advancement of gym management technology, it is now an expectation that processes be completed as quickly and easily as possible.

These five tasks can be laborious if done manually, but if you start to automate them, you’ll see these tasks can be a piece of cake!

Member Check-In

We’ll start with the basics. Checking in members should be one of the simplest tasks of gym management, but lines to the front desk and fitness class rooms can build up quickly. You need to have a fast method of getting people in before that line starts to form, and automated processes can help. One automation tool most gyms employ today is key fobs for check-in. Remember how annoying it was to look up every member or review paper logs? Using key tags, key fobs, fingerprint scans, and pin codes allow your members to simply scan or enter their code and go. It not only keeps your members happy by eliminating the check-in line, but also opens up profit potential for your business. If you no longer need multiple people manning the check-in process, you can have employees take on a larger business role, become a personal trainer, or fill another position that will help to grow your gym.

Payment Processing

Delinquent payments are a nightmare for gym owners and managers. Organizing payments, getting member dues collected on time, and reminding members of late payments are all tedious tasks. But these tasks are also critical to maintaining a consistent, up-to-date revenue stream. With a payment processing system, you can have automated billing, allowing you to focus your time and energy on improving your member experience and club profits. Send automated alerts to remind members when payments are due to reduce delinquent payments. It is also beneficial to have a payment processing system that gives your members the option to customize their payments to set up payments on a weekly, bi-weekly, or monthly basis. Fully automating this process allows you to enjoy a seamless billing cycle.

Reporting for Gym Management

Running daily, weekly, or monthly reports is more useful than you might think because they provide you with the data you need to support important business decisions. Putting together reports manually is time-consuming and is prone to human error, and unless you have someone who is a whiz at putting together charts and graphs, it is hard to really visualize and understand how your gym is performing. Automation speeds up this process and ensures it is accurate so you can be better informed to make the right business decisions. If you are using gym management software, there are several financial reports you should especially be familiar with, but it is also useful to run reports against the goals you have set to see the progress you are making. This progress can be represented visually on dashboards to give you a clear understanding of your gym’s performance.

Scheduling Meetings

If you know you have a meeting that happens every day or every week, do not waste time on scheduling it out each individual time. Even though it might only take a minute or two to schedule a meeting, every minute counts. Your time is spread thin as a gym manager, so setting up recurring meetings saves you the time and the hassle of having to do administrative tasks that can easily be automated.

File Management

Keeping up with customer changes is another tedious administrative task. With different levels of memberships available, customers may switch back and forth until they find a membership plan they are comfortable with. Or they might schedule a variety of classes until they find one they really like. Tracking all of these changes is a huge task involved in managing your gym. However, they can be automated as well. Gym management software automatically tracks these changes for you, so you do not have to worry about whether the membership status you have listed for a particular member is correct. Any changes that are made and any classes that are scheduled are all automatically tracked by your software system.

Gym management is filled with highly detail oriented tasks, which makes owning or managing a gym stressful, there’s no doubt about that. But do not do more work than you need to. Automate your tasks with gym management software so you can spend less time on tedious administrative tasks and more time on focusing on providing a positive and exciting experience for your members!

Learn more about all the ways gym management software can bring flexibility, stability, and security to your gym. https://bit.ly/2AHPYwV

Jim Thomas is the founder and president of Fitness Management USA Inc., a management consulting, turnaround and brokerage firm specializing in the gym and sports industry. With more than 25 years of experience owning, operating and managing clubs of all sizes, Thomas lectures and delivers seminars, webinars and workshops across the globe on the practical skills required to successfully to overcome obscurity, improve sales, build teamwork and market fitness programs and products. In addition, his company will buy gym equipment from gyms liquidating or closing. Visit his Web site at: www.fmconsulting.net or www.jimthomasondemand.com.

Tips for Opening A Gym in New Locations

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Reposted from www.abcfinancial.com

Are you thinking of opening a gym in a new location but don’t know where to start — or if you are even ready for it? Growing your business involves a lot of new challenges, from employee management to sales strategy. But do not let these growing pains deter you from expanding! Follow these tips to determine whether you are ready to open in new locations and learn how to approach the process.

Are You Ready for Expansion?

The first piece of the puzzle is figuring out whether you are even ready for the move. There is nothing more damaging to a business than moving too fast at the wrong time — and running a gym is tricky.

If you are currently operating a single gym, make sure you are hitting your yearly revenue targets and making a profit. Look at your net income and determine whether your business is growing. Do you have the available financial assets to make a big investment?

If you own an established gym chain, expanding into new locations is more familiar to you. Look at your profit margins over the past several months, and make sure your recently opened gyms are hitting their goals. At the end of the day, financial health is the most important factor when deciding to open a gym.

Money talks, but you should also be listening to your customers! Is your gym overflowing with business to the point where the space is overcrowded or overbooked? Are your customers begging you to open a new location so they can keep training with you? Are you confident in your ability to attract new members, because you have pinpointed your core client? Expanding your business will help you manage demand, but first you have to make sure you have this demand from your customers!

Hiring and Managing New Employees

If you are opening a new gym, chances are you will be hiring new employees to run the business. Whether you are in need of a full new staff, or just a few extra workers, hiring and managing employees is a big challenge.

Our number one tip for gym owners looking to expand is to rely heavily on referrals from current employees and to promote internally. This will save you a lot of time and worry in the hiring process. Of course, if you want to look externally for new employees, you can always post job openings online and at your current locations.

When it comes to employee management, it is important to have an administrative system in place before you make the move. Whether you are opening a new gym on the other side of town or the other side of the country, it is important you have the necessary hierarchy and support system in place to make sure your employees succeed. It is impossible for a new gym location to run smoothly without a tight operation.

Launching or Expanding Your Website

A new location means a new website or an extension of your current website. There are many factors to keep in mind when it comes to your digital presence. Opening a new gym should not mean opening a completely new business. You want your new website to be cohesive and follow your brand’s existing design patterns.

There are a few digital tips to keep in mind when designing your website:

  1. Make sure your website has a cohesive design which speaks to your overall brand image.
  2. Create a tab on the main website page under the name “Locations” or “Find a Club” that links to each individual page associated with your different branches. This will make your website easy to navigate.
  3. Customize your website to your region — your client base is going to be different, so your content should be different too! Write an About page that is specific to your region rather than just duplicating your pages, and write posts that relate directly to your new audience.
  4. Set benchmarks and monitor for progress. Set goals for your website and implement the appropriate data analytics to keep track of your performance.

How to Boost Sales in New Regions

Opening a gym in a new region comes with a unique set of sales challenges. If you are completely new to this region, you may not have the name recognition and built-in trust you have enjoyed at your current locations. You are going to need to implement some sales strategies to gain new clients. Thankfully, gym management software is great for implementing these sales strategies and keeping track of performance.

When expanding to a new location, leverage both digital and direct marketing tools! Some example of sales and marketing tactics include:

  1. Using your website, social media channels and mobile app to promote your club and attract new members.
  2. Engaging in an email marketing campaign to get the word out about your business.
  3. Throwing a launch party to get the community excited.
  4. Using word-of-mouth to attract new potential clients organically and build trust.
  5. Holding various promotional events or campaigns to offer a lower sign-up fee for your first customers.

There are so many tools at your disposal when boosting sales in new regions, so do not underestimate the fundamentals and do not forget to make the most out of your gym management software!

By following these simple but effective tips, you can ensure successful growth for your business! Expanding to new locations is a sign of financial health; celebrate by strengthening your brand and making the right strategic moves!

Jim Thomas is the founder and president of Fitness Management USA Inc., a management consulting, turnaround and brokerage firm specializing in the gym and sports industry. With more than 25 years of experience owning, operating and managing clubs of all sizes, Thomas lectures and delivers seminars, webinars and workshops across the globe on the practical skills required to successfully to overcome obscurity, improve sales, build teamwork and market fitness programs and products. In addition, his company will buy gym equipment from gyms liquidating or closing. Visit his Web site at: www.fmconsulting.net or www.jimthomasondemand.com.

When Was the Last Time You Submitted a Press Release?

Fitness Center Broker, Fitness Center Valuation, Gym Broker, Gym Equipment, Gym Valuation, Gyms for Sale, Health Club Broker, Health Club Valuation, Health ClubValuation, new gym start up October 18, 2018

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Reposted from www.abcfinancial.com

I’ll bet it’s been a while…if ever. The press release is one of the most misunderstood and underutilized marketing strategies in the fitness industry. By submitting quality press releases to your local media outlets, you’ll get plenty of free publicity for your fitness business.

Press releases are a free form of promotion, and are one of the most powerful. Getting mentioned by a reputable source is much more powerful than a postcard campaign or other advertising you might be planning. Getting mentioned in local news media outlets lends credibility to your health club and will allow your target audience an unbiased way of getting to know you and your business.

First of all let’s discuss what a press release is. It is simply a method of letting reporters and news outlets know about your health club or something that is relevant to your business that would be of interest to their readers, viewers, and listeners. Once these groups receive your press release, they then determine if it’s worthy of mention in their report.

The press release itself is meant to report something newsworthy, not to be a vehicle for self-promotion. Of course you get to mention your business and how it relates to the newsworthy information, but you cannot blatantly promote your services. Your press release needs to be of interest and add value to the readers and listeners of the media outlet you’ve targeted, otherwise they’ll never promote your news.

If something related to your business is worth announcing to the community, submit it for consideration. If you don’t have any new events or business related topics to submit, it’s always a good idea to submit a topic that is relevant to a current event. But if you snooze, you lose. You typically have a very small window of opportunity to submit a timely press release related to a current event before it becomes forgotten news.

Here are some examples of newsworthy information you can submit:

  • You created a self defense class for women at your facility
  • Your facility is a local drop off station for a canned food drive
  • Your facility is celebrating its anniversary
  • You feel that energy drinks are making people fat
  • You are opening a new location in town
  • One of your members lost a significant amount of weight
  • You agree with a local politician’s stance on health care reform

When your press release is picked up by a local news agency, not only will it provide you a nice piece of social proof, it will also get the attention of other news agencies. When one news group picks up your press release, it exponentially increases the chances of getting picked up in other outlets.

How to get them to pay attention to your press release

First of all, make sure the information you send is worthy of their attention and valuable to their readers and listeners. Also make sure it fits the niche of the media outlet you’re targeting. For example, sending a Obama-supportive topic to a heavily conservative news source wouldn’t be the best idea. Or discussing energy drink consumption to a newspaper whose readers average age is 65.

Another thing you’ll need to do is find a “point person” at each news agency. You only want to submit your press releases to one primary person…preferably someone who likes you and your business. The best way to get them to like you is to give them press releases that their audience will be interested in. This will make their job easier and cause them to pick up more of your press releases.

Here are a few more recommendations

  • Find someone who knows someone at the local newspaper, TV station, or radio station. This is an easy way to find a good contact person.
  • Be sure to send your press release to only one person at that business.
  • Be sure you submit only quality information. It’s okay to send a new press release once per month, but make sure it is interesting or important.
  • Keep your press release short. You have plenty to say, but keep it as brief as possible, focus on the key points and keep it at a manageable length. No one wants to spend time reading a 4-page press release.
  • Including a photograph with your press release could increase your chances of getting noticed.
  • Have someone edit your press release. Misspellings and grammar errors are unforgivable.
  • Some people prefer receiving press releases via email, some via mail, some in person. Find out what your contact prefers, and deliver accordingly.
  • Don’t give up. Not every press release will be picked up, but continue submitting. Eventually one will and you will develop a relationship with that news outlet.

Follow these tips and you’ll find yourself with plenty of free publicity from your press releases.

Reposted from www.abcfinancial.com

Jim Thomas is the founder and president of Fitness Management USA Inc., a management consulting, turnaround and brokerage firm specializing in the gym and sports industry. With more than 25 years of experience owning, operating and managing clubs of all sizes, Thomas lectures and delivers seminars, webinars and workshops across the globe on the practical skills required to successfully to overcome obscurity, improve sales, build teamwork and market fitness programs and products. In addition, his company will buy gym equipment from gyms liquidating or closing. Visit his Web site at: www.fmconsulting.net or www.jimthomasondemand.com.

Listing Gym Broker – Co-broker

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We want to Help! Would you be willing to work with us as a Business Broker to help sell your business for you??? There are NO Fees until your business sells. We will Advertise, Market, Network & Promote your business For Sale. We will work hard for you. We want to Help! We have a very strong data base of buyers who we work with that are specifically interested in the fitness business. We look forward to hearing from you. Please advise ASAP so we may execute a Sale of your Business.

Other brokers are welcome to contact us.  We will co-broker.

Financing Opportunities for your Gym

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You can’t execute your vision for your gym if you don’t have the financial resources needed to implement it: this is a simple truth for every gym owner across the industry. It takes capital to transform vision into reality, and in most cases, the bank across the street from you may not be your best option. In fact, given the strict nature of bank lending over the past decade, it may not be an option at all.

Most small- and medium-sized gyms and fitness centers struggle to secure funding needed for acquisition, growth or working capital needs. Gym owners are focused on the day-to-day challenges of running their club, and it can be very difficult and time-consuming to survey a vast array of lending options to identify one that can actually be secured.

While every vision will not be suitable for every lender, there is usually a lending partner somewhere that is the right fit for that vision. And it is the role of Fitness Management & Consulting to connect you with a lender or investor that will allow you to move forward and take action.

Fitness Management is not a direct lender but an advisor and advocate to the small- and medium-sized gym community:

• We will promote and guide you throughout the lending process to secure the financial strength and flexibility you need to achieve your goals.

• Our firm brings guidance, focus and financial leverage to our clients by leading them through a lending maze that can be very difficult and frustrating to navigate without direction.

• We operate under a strict code of ethics in developing and implementing what we feel is the best financing solution for each and every client.

• And most critically, through a national network of lenders, investors and other financial partners, Fitness Management helps to put cash into our clients’ hands so they can implement their visions and realize their dreams.

Fitness Management & Consulting can provide you with financial solutions that allow you the freedom to run your gym…the freedom to move forward, the freedom to grow and the freedom to thrive.

Now, go get funding for your gym!   

Jim Thomas is the founder and president of Fitness Management USA Inc., a management consulting and turnaround firm specializing in the fitness and health club industry. With more than 25 years of experience owning, operating and managing clubs of all sizes, Thomas lectures and delivers seminars and workshops across the country on the practical skills required to successfully build teamwork and market fitness programs and products. Visit his Web site at: www.fmconsulting.net or www.jimthomasondemand.com.

 

 

Sealing the Deal: The Benefits of a Gym Broker

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Traditionally, a broker serves as a facilitator between buyer and seller, arranging transactions in exchange for a commission. If you’re starting a new gym or modifying your existing vendor list, you can benefit from the knowledge and expertise of gym brokers. You don’t have to face the daunting venture of starting a fitness center business alone.

Getting Started

If you’re thinking of becoming a health club or fitness center owner, your gym broker can locate prospective sellers. A qualified gym broker will have valuable insight on buying and leasing space, establishing contracts with companies that supply the latest in health club equipment, and securing package deals. Your broker can also assist in acquiring the basics — pool maintenance products, locker room supplies, health and beauty products, or vending machines.

Establishing or Expanding Your Vender List

If you are just starting out as a fitness center owner, you don’t need to spend more time establishing your vendor list than you have to. For instance, if you would like to open a café or juice bar in your business, your gym broker may negotiate with potential food service vendors for the best contract that meets your needs. Your broker may also know about janitorial services, computer maintenance companies, or commercial repair services that offer special rates to new gym owners.

Other Knowledge and Resources

A gym broker should have extensive expertise in the health and fitness industry, whether it be as a fitness center owner, a trainer, a consultant, or even a motivational speaker on health and fitness. The more experience your broker has, the better equipped he or she is to approach potential vendors and effectively close the transaction. In other words, a broker with vast experience wears many hats, offering consulting services in the areas of sales, marketing and/or training.

Remember, with a seasoned, resourceful gym broker, you have a partner that works on your behalf to save you time and increase your profits. Contact Us for questions about gym brokers, health club management, and any other questions.

Sell Your Gym Now

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Is it time to sell?  Wanting a buyer for your gym? Don’t know where to find them? Our channels get thousands of hits each month.  When owners of gyms are looking to sell they turn to Fitness Management.  Fitness Management is your link to leading gyms and top business brokers by connecting you with quality prospective buyers and strategic acquirers.

Buy/Sell transactions are at the highest level since 2007.  For buyers, the represents strong value opportunity as a result of increasing revenue growth and stabilizing prices.  The consistently strong financial performance of gyms bodes well for the future and is why gym owners are earning healthy sales prices upon exit.

Fitness Management has Sr. Business Intermediaries looking for gyms in your area.  Reply now to find out if you are a possible match. Qualified buyers and strategic acquirers are out in force, it is truly a seller’s market.  Act now for a no-obligation consultation. Please fill in the requested information and one of our Sr. Advisors will contact you on your confidential line.

TRUFUSION Studio Purchases Rights To Fly Gym Fitness Program

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Vegas-Based Fitness Franchise Announces Ownership of Aerial Exercise Model

LAS VEGAS – Dec. 22, 2015 // PRNewswire // – TRUFUSION, the Las Vegas-based workout studio known for its unique variety of group classes and hot fusion workouts, has announced ownership of holistic aerial fitness system, Fly Gym. TRUFUSION will offer Fly Gym to its members at new locations as the brand expands nationwide.

Fly Gym Fitness Program is an innovative fusion of yoga, Pilates and cirque inspired movements. The workout method combines traditional elements of endurance, strength and power with the addition of flexibility, stability and release. Fly Gym Aerial Fitness uses an 11 piece set which includes fabric slings, daisy chains and carabiners that are hung from the ceiling. Pam Carter and Karen Andes originally came up with the concept in an effort to train first time students who wanted to build strength. Today, Fly Gym is used by individuals of all abilities to achieve optimal wellness in a creative way.

As a pioneer amongst fitness studios, TRUFUSION is a one-of-a-kind fitness concept that motivates each member to be the best version of themselves. Some of the fusion-based classes the studio offers include Kettlebell, Battle Ropes, Pilates, Barre and Yoga in heated rooms set at 104 degrees. As a rapidly growing franchise, TRUFUSION continues to expand its repertoire of innovative workouts by offering gravity-free training with Fly Gym.

“At TRUFUSION, we strive to satisfy our members by thinking outside-of-the-box and offering ground-breaking fitness classes,” said Jonathan Fornaci, President and COO of TRUFUSION. “We look forward to introducing the gravity-free training of Fly Gym to our community.”

For more information about TRUFUSION, visit www.TRUFUSION.com, and for information on franchise opportunities, please visit www.TRUFUSION.com/franchise.

About TRUFUSION

Founded in 2013, TRUFUSION is a one-of-a-kind group fitness studio that offers over 200 unique fusion workout classes per week including Hot Pilates, Tru Kettlebell, Battle Ropes Express, Barefoot Bootcamp, Yinfused, and more. Placing an emphasis on inspiring a community setting in the studio, the popular Las Vegas-based franchise has developed a loyal fan base of locals that coin themselves members of the TruTribe. Offering several additional products and services including a full smoothie bar, healthy food items, and an original line of workout apparel, TRUFUSION is a one-stop shop for all things health and fitness.

SOURCE TRUFUSION

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  • Why Use a Health Club Consultant, Coach or Mentor

    by on November 9, 2018 - 0 Comments

    Why Use a Health Club Consultant, Coach or Mentor? Isolation Directors of health clubs and owners in particular, may be gregarious and confident, but they can also be very isolated. There are not many people to whom they can turn for help, often no one in their own organization. Uncertainty about trust and confidentiality, personal […]

  • Gyms Are Expanding and Many are Eyeing Mall Vacancies

    by on September 27, 2018 - 0 Comments

    https://www.nreionline.com/retail/gyms-are-expanding-and-many-are-eyeing-mall-vacancies The fitness club sector is flexing its muscles. Fitness and health clubs have grown to be a more than a $30-billion-a-year industry, according to research site Statista, with more than 36,000 clubs across the U.S. boasting more than 60 million members. Top players in the health club industry reported steady growth in 2017 and many are […]

  • What is the Cost of Owning a Gym?

    by on October 14, 2018 - 0 Comments

    Reposted from www.abcfinancial.com There are several key criteria to consider when calculating the cost of owning a gym. If you know all of the included costs ahead of time, you will be able to plan accordingly in order to maximize your profits. Location Location will likely be the largest cost of owning a gym but […]

  • When Was the Last Time You Submitted a Press Release?

    by on October 18, 2018 - 0 Comments

    Reposted from www.abcfinancial.com I’ll bet it’s been a while…if ever. The press release is one of the most misunderstood and underutilized marketing strategies in the fitness industry. By submitting quality press releases to your local media outlets, you’ll get plenty of free publicity for your fitness business. Press releases are a free form of promotion, and […]

  • Tips for Opening A Gym in New Locations

    by on October 23, 2018 - 0 Comments

    Reposted from www.abcfinancial.com Are you thinking of opening a gym in a new location but don’t know where to start — or if you are even ready for it? Growing your business involves a lot of new challenges, from employee management to sales strategy. But do not let these growing pains deter you from expanding! Follow these tips […]

A Recommendation of Jim Thomas, President of Fitness Management and Consulting

by Norm Cates, Club Insider Publisher and Tribal Leader Since 1993

Jim Thomas is a talented, experienced, dedicated, determined, and very professional expert in the health, racquet and sportsclub industry. A club industry veteran of over 30 years, Jim has been a Club Insider Contributing Author since March of 2006, when he joined our Club Insider Contributing Author Team. During that time Jim has written and contributed 50 articles which have been published during our 284 months of Club Insider publishing. Jim Thomas is a truly great asset to our publication, and to our wonderful industry, and he can be trusted to deliver great results, over and over, no matter what the challenge.

214-629-7223

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When is it Time to Sell Your Health Club or Gym?

gymsaleMany factors will tell you when it is time:

  • Owner’s “burn out” Owner’s or key employee’s health problems
  • Business relocation or rerouting of expressways
  • Lease expires and you do not want to renew for another term
  • Changing technology Get estate in order
  • Not interested in investing long-term capital
  • Children do not want to enter family business
  • Under-capitalized
  • Largest accounts in financial difficulty
  • Bank unwilling to renew credit lines
  • Supplier problems
  • Staff problems
  • Customer’s habits changing
  • Seeks retirement
  • Wants to cash out and go fishing

Learn More

Whatever the reason, you will need to plan an orderly transition to new ownership with less involvement on your part.

For more info, please call us at 214-629-7223.

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