Table stakes is a term used in poker, meaning the minimum amount you need to get to a table and play a game. When used in business, it means the barrier of entry or the minimum offering you have to provide to be in a particular business.
For instance, in a personal training business, it is expected that your facility should be clean, you should offer specificity, great programming, good enough customer service, etc.
These are the things that customers expect as a bare minimum from you. You can't even market your business using these….
But to succeed in a fitness business or any other for that matter, you have to go beyond the table stakes. You have to provide some extras that truly set you apart from the competition. These extras are what move the needle forward.
Listen in to this episode as Rick and Matt give examples using Alloy Personal Training Franchise on how to go beyond table stakes to make your customers stick around longer.
Key Takeaways
- What are table stakes in business (03:07)
- List of table stakes in a personal training facility (04:27)
- Beyond table stakes- The extras that set you apart (07:29)
- The soft-touch things that make personal training great (10:18)
- The amount of time you should spend on table stakes vs. extras (17:20)
- What makes customers stick around (18:59)
- Moving the needle in your business (23:06)
Additional Resources:
- Alloy Personal Training
- Learn About The Alloy Franchise Opportunity
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