Episode 296: What Sets the Most Profitable Gyms Apart? From The Gym World Worldwide Podcast
Dec 29, 2023
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The podcast explores the topics of small group personal training, the importance of community in gyms, greeting people by name, and survey findings on profitability in the gym industry.
The most profitable gyms have smaller sizes, charge higher rates, and have better retention rates, highlighting the importance of personalized programming and strong client relationships.
Creating a welcoming and inclusive environment, prioritizing community and connection, is crucial for gym success, as individuals are attracted to gyms based on the feeling of belonging and motivation to be challenged towards personal goals.
Deep dives
Unicorn Society Retreat in 2024
The podcast episode starts with a special announcement about the opening of spots for the Unicorn Society retreat in 2024. The retreat, which is for gym owners, will be held in Austin, Texas and will focus on marketing and sales. Attendees will learn strategies to generate high-quality leads and increase revenue. The retreat also offers the opportunity to connect with like-minded gym owners and gain insights from industry experts.
Discussion on Benchmarking Report with Top Performing Gyms
The podcast episode features a discussion on another podcast episode where they explore the 2023 gym owner benchmarking report. The focus is on the top 10 highest performing gyms and their similarities. The report reveals that the most profitable gyms have a smaller size, charge higher rates, and have better retention rates. The importance of forming strong relationships with clients is highlighted, along with the value of community and personalized programming. The episode emphasizes the impact of these factors on gym success.
The Role of Community and Connection
The podcast delves into the significance of community and connection in gym settings. It emphasizes that gyms should not just focus on marketing results but should also prioritize creating a welcoming and inclusive environment. The importance of relationships, both with trainers and other members, is highlighted as a key factor in retention. The podcast suggests that individuals can be attracted to gyms based on the feeling of belonging and the motivation to be challenged and pushed towards personal goals.
Tools and Strategies for Gyms
The episode discusses the use of management software and marketing tools in gyms. Surprisingly, a significant percentage of gym owners reported not using any management software. This raises concerns about efficiency and organization. The episode also highlights the apprehension some gym owners have towards digital advertising, indicating that other grassroots methods, such as referrals and community engagement, can be effective alternatives. The importance of personal connections, customization, and providing value-driven incentives for referrals is emphasized.
Want to spend time with Keeler, Pete, MF, and like-minded gym owners in Austin? To learn more and claim one of *only 10 seats* available for non-US members for our next retreat in March, DM us.