Run a Profitable Gym The Un-Sexy (but Totally Effective) Way to Build Wealth as a Gym Owner
As gym owners, it’s easy to get distracted by shiny new things. You might be tempted to run flashy promos, offer discounts or make strange additions to your service offerings.
But the best way to grow your income is much simpler—albeit a bit less sexy.
In this episode, host Mike Warkentin is joined by gym owner Nick Beal of CrossFit Casco Bay, who explains how to build wealth that compounds.
A couple of key steps: Put systems in place and assess them regularly.
Nick shares how consistent—and admittedly un-sexy—actions like these have increased his net owner benefit (NOB) and allowed him to build long-term careers for three full-time staff members.
In turn, having dedicated staff and proven systems has freed up his attention to focus on other investments, like real estate, so he can continue building wealth both inside and outside his gym.
Tune in to hear more of Nick’s wealth-building tips, and then go apply what you learn to your gym.
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1:18 - What is "unsexy stuff"?
9:43 - Steady improvement and Nick's NOB strategy
13:37 - Benefits of mentorship
16:32 - A system for acquiring leads
23:38 - Next steps for Nick