How Do You Check Out as a Health Club Owner?

I was recently speaking with a health club owner about his business. He had gone from health club employee to now, health club owner. Being in the “hot seat” was much different than just being concerned about himself or his department each day. As we talked, it got me thinking about what it takes to be a successful owner of a health club…and some of the things that must be done in order to have success in this business. One thing is for sure, there is no way to eliminate all the problems that are associated with running and operating a successful health club. However, you can improve your chances of success with good advance planning, daily preparation and surrounding yourself with people who are better than you are at what you’re asking them to do. A good starting place is to evaluate your strengths and weaknesses as the owner and manager of a health club. Consider each of the following questions. Work ethic…Are you a self-starter? If it is to be, it is up to me. It w…
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Is It Time To Expand Your Health Club?

We seem to be getting more inquiries about expansion and getting into the health club business than at any time in the last couple years. Is it time to expand your health club? Certainly no one is in the health club business to fail and most health club owners view success as the ability to successfully grow their company. There are many ways to grow a health club. The key is to manage the growth in such a way that it can be controlled. Keep in mind that growing your health club too rapidly can be more devastating to your company than not growing at all. Each of you as a health club owner must assess whether or not growth is for you. It’s not for everyone. If so, what are the alternatives and the most appropriate methods for the expansion of your health club? Have your legal pad handy Health club owners should keep a legal pad available in order to write down unique and creative ideas that may be promoted through the health club. For me, my most creative ideas come …
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Sell your Health Club for More Than it’s Worth

Is it time to go fishing? Would you like to sell your gym? This may be more challenging than you think. Nearly half of all gym owners who try to sell their business can’t get it done. However, if done properly, nearly every gym will sell and many times for the asking price. What’s the secret? You need to get the timing right. The biggest mistake we see is that most gym owners do not plan their exit strategy from the very beginning. We see this over and over….gyms owners wait until something goes wrong and when that happens the gym is typically trending downward and it's not making as much money as it once was. The best time to sell your gym is when your business is doing well….when it’s tending up, not trending down. Be sure you have clean books. If you want to sell your gym for the maximum value, you need to be sure your books are in order. I once asked to see a club’s books and they handed me a shoe box full of receipts. That won’t work. In order to decr…
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