5 Things to Consider Before Owning a Gym

Reposted from www.abcfinancial.com

Congratulations, you’ve decided you are ready to become a gym owner. The global fitness and health club industry generates more than $80 billion in annual revenue. However, just because the market is great does not mean you should dive into the industry without proper research and planning.

You need to create a plan to ensure you have the proper certifications, a streamlined process to collect membership dues, know how many employees you’ll need to hire and have an automated way to simplify administrative tasks. Ensuring that you have everything you need to run a successful gym is critical before you make that leap. Below we have outlined 5 things to consider before owning a gym:

Certifications

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How to Create a Sales Culture in your Gym

When a gym commits to creating a sales culture in order to increase sales and profits, there are some fundamental rules that should be the foundation of any successful implementation. Once these rules are established other items can be addressed as the health club moves toward the full adoption of the new sales culture. All staff in your facility must be involved. Any successful gym sales culture needs to include each and every employee from the owner to the lowest paid person. No one can be exempt. Some gym owners think that the idea of a sales culture is a membership sales department function that doesn’t affect other club departments. However, a true sales culture means that everyone takes responsibility for increasing sales by adopting a member and guest-centered attitude in doing their individual jobs. All staffers must have a real stake in the game when it comes to the performance of the gym. No matter how much your staffers hear about a sales culture in your gym …
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So, You Want to Be a Successful Gym Owner?

Let’s start with these simple questions

As with anything that has an upside, there will be risk. You can’t avoid it. However, you can help mitigate this risk with proper planning and preparation and surrounding yourself with industry experts. A place we always like to start by asking ourselves these 2 questions; what am I good at? And where do I struggle? Review the following questions to see where you need some help to improve your business;

· Are you a self-starter? The big failure I see in this area is we become content quickly. We don’t really start to push until the pressure is on. So many gym owners wait and wait, hoping things will change and then it’s too late. I think it was Mark Cuban that said it, “work each day like someone is trying to take it all away from you.

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

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.

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Why Use a Health Club Consultant, Coach or Mentor

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 competition and the slipperiness of the business ladder often make it hard for an Owner or Director or Manager to turn to a colleague about issues that may put into question their performance or tenure.

A Fresh Mind

Perhaps even more common, however, is simply the wish to consult a fresh mind, someone who brings no investment or position of his own, an outsider who is not involved with the orga…

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Tedious Gym Management Tasks that Can Be Automated

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

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Tips for Opening A Gym in New Locations

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 p…

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When Was the Last Time You Submitted a Press Release?

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 lett…

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Gyms for Sale

Have you made the decision to sell your gym. This is a critical moment in your business cycle and we want to help you receive top offers. We understand that the sale is more than a transfer of assets and we will help you maximize the profits from your exit. We have over 30 Years of experience in the health & wellness industry and we know what buyers want. Contact us today! fmconsulting.net/contact or 800-929-2898. #gymbroker #healthclubbroker #businessbroker #gymowners #fitness #mma#crossfit #kickboxing fmconsulting.net/gymsforsale
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Listing Gym Broker – Co-broker

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.
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Financing Opportunities for your Gym

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 lend…
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Sealing the Deal: The Benefits of a Gym Broker

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 you…
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Sell Your Gym Now

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 an…
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