The Business of Boutique Fitness

I’m pretty sure that most (all?) of us didn’t open a boutique fitness studio to stare at spreadsheets and crunch numbers. Yet that’s part of owning a business.   Learn what you really need to know with Coach Lindsey Hammond and guest CPA Kimberly Tara in Episode 657: Everything You've Been Too Embarrassed to Ask Your Accountant.   Know your obligations: you’ll owe income, payroll, sales and property taxes Pick smart partners: consider a bookkeeper, tax preparer or accountant  Classify correctly: designate employees or independent contractors  Pay yourself consistently: plan for revenue fluctuations to take home a check Look for loopholes: request that your accountant use tax strategies to pay less   You’ll find in Episode 657 that you don’t have to know everything if you have pros on board. Check out Kimberly,  a CPA-certified tax coach and strategist for mom entrepreneurs.    Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/  

Y’all, be honest. Do you really understand what a mission, vision and core values mean for your studio and why they matter? And why should you care?   Consider these essentials for a moment with Coach Matt Hanton and Lisa Taylor, Studio Grow’s Bespoke program director, in Episode 656: Building Your Mission, Vision & Core Values.   Learn the language: mission is what you do; vision is the utopia you’re aiming for Know thyself: understand how your own values influence your business   Insist on specificity: empty platitudes don’t deliver direction or results Create your compass: thoughtfully articulate your studio’s North Star  Keep watch: ensure core values are observable, measurable and re-creatable   Your mission, vision and core values define and embody your brand. Without them, you’re simply running fitness classes. Explore the rationale and the process in Episode 656.   Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/  

Sure seems like everyone today is desperately seeking some zen on the mat. The global yoga industry is expected to climb from $180B in 2024 to $215B in 2025.   Coach and yoga studio owner Caroline Plambeck lays out the optimistic landscape of opportunities to capitalize on surging interest in Episode 655: The State of the Yoga Industry.   Ask for wish lists: chat with clients about their preferences for yoga offerings Broaden your appeal: accommodate beginners, advanced yogis and men Practice variety: mix it up with specialized classes, workshops and retreats Welcome workers: create tailored corporate wellness programs for nearby companies Add URL to IRL: beef up online/live stream options to extend your reach   As the demand for holistic wellness and steady stress relief grows, build your business by capturing new and potential yoga practitioners. Plan your next moves with Episode 655.   Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/  

Let’s talk money – as in financing your first studio or funding to scale and add locations. By understanding your options, you can quell your anxiety and prepare for the process.    Coaches Caroline Plambeck and Alex Lavelle got you covered in part 3 of our series: Episode 654: Real Estate, Loans and Investment: Deciding the Best Financing for Your Studio.   Speak the language: know conventional, non-conventional, credit stacking and niche Saddle up: getting approved for an SBA loan can be a time-consuming challenge Think big: buying your building may be better than leasing or renting Collect cards: consider credit stacking to fund smaller projects  Fear not: denials happen, so fine-tune, be tenacious and don’t quit   The bottom line, according to Alex? Know the rules. Play by the rules. And play to win. Get ready to get in the game with Episode 654.   Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/  

Turning your vision into a reality can be intimidating without some know-how about the process. After securing funding, learn how to hire and work with a contractor in part 2 of this series.   In Episode 653: From Planning to Build-out: Financing Your Studio the Right Way, join Coach Caroline Plambeck and Coach Alex Lavelle for smart suggestions on this next step.   Tap your resources: seek referrals or visit Home Depot or Lowes to find contractors Vet thoughtfully: check out scope of work, confirm license, request wholesale pricing Persevere: keep interviewing contractors to find the best fit; don’t settle Shop around: get several quotes and ask preferred contractor to match lowest cost Set expectations: arrange meetings, timelines and payment schedules with contractor    You can save thousands of dollars (and headaches!) by choosing the right contractor. Create a systemized approach based on in-the-trenches advice in Episode 653.   Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/  

I get it – funding and financing can be daunting when starting or expanding your studio. In this 3-part podcast series, we’ll uncover some of the mystery to boost your comfort level.     Coach Caroline Plambeck and Coach Alex Lavelle start with the foundation in Episode 652: The Mindset of Financing: How to Fund Your Studio's Growth.    Check your wallet: your personal finances impact your ability to get funding Do your homework: lenders require a business plan and pro forma  Speed date (sort of!): expect to interview several lenders to find the right one Embrace options: think SBA, conventional, non-conventional, credit stacking  Strap in: financing is a process and can take longer than you think     Funding doesn’t have to be as intimidating as it seems. Armed with knowledge and good coaching, you may be surprised by what’s possible. Begin with Episode 652.   Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/  

A smarter approach than avoiding conversations that feel uncomfortable is confronting them thoughtfully. So stop dodging and start diving in.      But first, have a process in place. Coach Matt Hanton and Coach Rachel Prairie offer tested recos in Episode 651: Difficult Dialogues in Boutique Fitness, Part 2.    Anchor your angle: base discussions on your policies, mission, vision and values Seek solutions: focus on information-finding and collaboration to fix problems Document discussions: keep a written record and ensure understanding Stay timely: don’t delay or turn a blind eye, which implies validation  Commit to consistency: treat everyone the same in addressing issues     Ultimately, strive for productive conversations that strengthen your team and your business. Reframe your thinking and establish a procedure with Episode 651.   Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/  

Y’all, I know that scaling your business seems kinda like a pipedream when you’re eyeballs-deep in teaching classes, whipping up marketing, running payroll and washing towels.    But pause for just a moment to learn how to lay the groundwork with Coach Caroline Plambeck and guest Vince Gabriele, a gym owner, author and business coach, in Episode 650: Building a Strong Foundation: Key Strategies for Studio Success.    Know your goals: determine how you want your business to fit into your life Master marketing: be laser-focused on what your avatar cares about Delegate discriminately: don’t dump on your team if they don’t have capacity  Launch thoughtfully: onboard clients intentionally with a high-touch process Prioritize profitability: pay yourself, minimize attrition and maintain cash on hand   Episode 650 is loaded with practical suggestions and personal anecdotes from the trenches. For more from Vince Gabriele, check out www.vincegabriele.com.     Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/  

Even past the January New Year’s resolutions crush, you’ve still got an opportunity to capture people who dropped off after an intro package or those who haven’t yet jumped on their goals.    To capitalize on these ripe leads, refine your sales strategy with Coach Caroline Plambeck and Coach Matt Hanton in Episode 649: Refreshing Your Sales Strategy in a New Year.    Assess your avatar: tailor your approach to the psychology of each individual buyer Give to receive: leverage reciprocity, such as a free class, to encourage sales Showcase success: highlight testimonials and community to maximize social proof Foster FOMO: emphasize scarcity and urgency to compel immediate action Relate & recommend: empathize with objections and suggest realistic solutions   Knowledge is power in the sales process. Benefit from this timely reminder to reassess your goals, opportunities and audience in Episode 649.    Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/  

For many of us in the studio industry, sales feels cringy. Pushy, in-your-face and relentless. Yet survival in this business requires ongoing sales.    Shift your perspective and pick up practical ways to approach the process with Coach Caroline Plambeck in Episode 648: Connect First, Sell Second: How to Transform Your Sales Mindset.   Create a connection: ask questions, focus on client and actively listen Invest in relationships: value each client personally beyond a transaction Immerse in community: foster a sense of belonging and engagement Share solutions: address clients’ needs and solve issues with your services Re-envision rejection: see a “no” as an opportunity to gather more info and learn   Y’all, think of it as serving instead of selling. We specialize in enhancing lives and making a difference daily. Learn more about how to embrace the experience in Episode 648.     Catch you there,   Lise   PS: Join 2,000+ studio owners who’ve decided to take control of their studio business and build their freedom empire. Subscribe HERE and join the party! www.studiogrow.co www.linkedin.com/company/studio-growco/