The Rate Increase: Exactly How Fit One Five Got It Right

Raising rates can be scary—but you won’t bleed members if you follow the right plan.

In this episode of “Run a Profitable Gym,” host Mike Warkentin sits down with Tim Rainer, owner of Fit One Five in Franklin, Tennessee, to discuss the ins and outs of raising rates at a gym.

Tim tried raising rates on his own three times, but none of the increases had a noticeable impact on his business. The he brought in an expert to get it right.

With the help of a Two-Brain mentor, Tim was able to adjust his business model, modify his offerings and increase value to justify a significant rate increase that allowed him to serve his clients better, pay his coaches more and build a sustainable business.

Tim provides all the details of his rate increases, including exact numbers and client reactions. He's also got advice for gym owners who are struggling to figure out how to ensure the long-term success of their businesses.

Links

“The Simple Six” by Chris Cooper

Gym Owners United

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1:06 - The very first rate increase

7:18 - The most recent rate increase

16:25 - Will you lose clients?

18:46 - Communicating

23:48 - Is a mentor essential?