Can boutique gyms learn a thing or two from big-box fitness chains? Absolutely.
In this episode, Nick and Dan break down the five most powerful business strategies they've observed at Life Time Fitness — strategies that boutique and independent gym owners can adopt to boost their own operations.
From creating a sense of scarcity with waitlists to the genius profit-boosting tactic of offering a $45 coffee tumbler (yes, we're serious), they discuss how Life Time Fitness is more than just a gym — it's an extremely well-thought-out revenue machine. Nick and Dan also examine the importance of identifying your ideal customer profile (ICP), instilling scalable growth mindsets in your team, and diversifying revenue streams.
Got your own insights about Life Time Fitness — or another big name fitness studio? Email us at podcast@pushpress.com. We'd love to continue the conversation and help our community of CrossFit boxes, boutique yoga studios, and martial art spaces continue to build more resilient and profitable businesses.
Timestamps:
[1:30] - Dan's Life Time membership experience
[2:59] - Waitlists and scarcity marketing
[6:29] - Having a clear ICP matters
[10:25] - Churn prevention strategies
[13:30] - A professional Sales teams in a gym? Yes.
[15:20] - Maximizing your revenue streams
[18:50] - The good and the bad of a big-picture business model
