The Game with Alex Hormozi 4 Tactics to Maximize Margin | Ep 186
Mar 10, 2020
Discover how a simple 99-cent increase on memberships can boost monthly income significantly. Learn about the power of using backup cards to reduce turnover in clients. Find out why switching to a weekly billing cycle could add an extra payment per year. Explore how ACH payments can lower processing fees, leading to higher profit margins. These strategic tweaks could transform your gym's financial landscape!
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Add 99 Cents
- Add 99 cents to all memberships and purchases, even t-shirts or challenges.
- This small addition accumulates significantly with high transaction volumes, boosting monthly revenue.
Get Backup Cards
- Secure backup payment cards from customers to reduce churn by ensuring uninterrupted billing.
- This simple step can significantly impact revenue by preventing cancellations due to expired cards.
Weekly Billing
- Switch from monthly to weekly billing cycles (e.g., every four weeks) to gain an extra billing cycle annually.
- This change effectively adds an extra month's worth of revenue without additional operational effort.