The Business of Boutique Fitness

Believe it or not, there are leaders, politicians and policymakers out there who still think of fitness as recreation.  And worse, they tax it the same way too.  In reality, gyms and fitness studios play a critical role in empowering people to maintain their basic health, prevent chronic and acute illness and live happy, fulfilled lives.  That’s why we need people like Brett Ewer to advocate for our industry and convince legislators and policymakers that what we do matters. In the face of ever-changing legislation and regulations, people like Brett are working to make a case for our industry and demonstrate how we critically impact society at the local, state and federal levels.  Join me in Episode 557 of The Business of Boutique Fitness as I chat with Brett Ewer, Head of Government Relations at CrossFit, about the importance of shaping policies that protect the fitness industry and ensure that boutique fitness not only survives, but continues to thrive.  Here’s what we talk about in Episode 557: Why the fitness industry needs advocates who can lobby for them at the state and federal level Brett’s day-to-day routine as Head of Government Relations at CrossFit The Community Gyms Coalition and its advocacy efforts during COVID-19 The Gyms Act legislation, plus a behind-the-scenes look at what went into its development and advancement What studio owners need to know about sales tax and other key regulations Links: https://www.linkedin.com/in/brett-ewer-8151235a https://twitter.com/brett_ewer?lang=en https://www.linkedin.com/company/crossfit?trk=public_profile_topcard-current-company https://studiogrow.co/ https://www.linkedin.com/company/studio-growco/  

Here’s what we’re talking about in this episode: Lise chats with Rob Beale about the Third Space fitness concept, which aims to be the "third space" for its members and inspire them to be their personal best. Third Space's unique set of amenities and its focus on experience: Rob Beale explains how Third Space is more than just a typical health club, with a focus on building beautiful facilities, personalized service, and expertise to deliver the best experience for members. The challenge of ensuring quality experience across multiple modalities: Rob Beale discusses the challenge of upholding Third Space's philosophy and ensuring quality experience across various modalities, and how recruiting passionate and talented people is key to achieving this. Third Space's selection process for trainers and instructors: Rob Beale shares Third Space's selection process for personal trainers and group exercise instructors, which involves a multi-stage audition and training program to ensure that instructors are experts in their field and can deliver a five-star experience for members Links: https://www.thirdspace.london/ https://www.linkedin.com/in/rob-beale-a537a917/?originalSubdomain=uk https://twitter.com/RobBeale https://studiogrow.co/ https://www.linkedin.com/company/studio-growco/  

Here’s what we’re talking about in this episode: - The guest, Brian O'Rourke, is the CEO of Vedere Ventures, president of the Fitness Industry Technology Council, and co-founder of Moon Mission Media. - Brian discusses how growing up in a military family taught him perseverance and adaptability and how hospitality has influenced his experience-driven fitness businesses. - The importance of understanding which numbers matter when it comes to running a business is emphasized, including operating margin, lifetime value of customers, and acquisition costs. - The challenges of reducing cost per acquisition in digital marketing are discussed, with Brian noting that not all attribution models from Meta or Google are reliable. - The fitness industry has been built on venture capital models, but the importance of building sustainable, profitable businesses is emphasized. - Knowing how to see is a guiding principle for Brian's investments, and he emphasizes the importance of understanding what numbers really matter when it comes to profitability and sustainability in a business. Links: https://www.bryankorourke.com/ https://www.vedereventures.com/ https://www.moonmissionmedia.com/ http://www.fittechcouncil.org/ https://studiogrow.co/ https://www.linkedin.com/company/studio-growco/  

554: How to make your team an asset, not a burden - Coaches Peter and HP Here’s what we’re talking about in this episode: HP shares her extensive experience in people development and how it relates to effectively managing teams. Peter and HP talk more on the importance of assessing candidates' human skills and values during the interview process. We also discuss the importance of transparently discussing career aspirations with employees and being upfront about the possibility of them leaving. HP and Peter emphasize the significance of hiring individuals whose values align with the business and taking an interest in their long-term career goals. Links: https://studiogrow.co/ https://www.linkedin.com/company/studio-growco/

Y’all, studio owners are often super reluctant to embrace new technology.  I get it – the idea of adding another tool to your already overflowing plate can seem like a lot. Not to mention the fear that technology and automation will diminish the human element in your business.  But I wanna let you in on a little secret today.  The truth is, if you use it right, automation platforms can actually help you strengthen your relationship with your clients.  These platforms can automate repetitive tasks, streamline studio operations and organize data efficiently, so you can free up your time to focus on what matters most – connecting with your clients and building your community. And that’s exactly what we’re discussing in this week’s episode of The Business Of Boutique Fitness! Join Studio Grow Coach Peter as he chats with Nathan from LoyalSnap, an automation platform designed to help boutique fitness studios build stronger relationships with their clients. Learn all about the role of automation in boutique fitness, the pitfalls you need to avoid, and how simple, functional tech tools can be a game-changer for studio owners. Here’s what we’ll cover in this episode:  Common misconceptions about automation and examples of bad automation practices Nathan’s checklist for building authentic client relationships How automation platforms like LoyalSnap can streamline client management and help you communicate meaningfully The role of AI in automation software & why simple functional tools are most effective for small business owners Links: https://www.loyalsnap.com/ https://studiogrow.co/ https://www.linkedin.com/company/studio-growco/  

Boutique Fitness 552: Surviving Strong: The building of my brand with Susan Holden   There’s more to living than not dying.  That’s what Susan Holden told herself after being diagnosed with invasive cancer in 2004.  The cancer had spread, the prognosis wasn’t good, and overnight, Susan's life became an endless series of doctor’s appointments, chemotherapy and hospital visits, with just one key goal – to keep Susan from dying.  Susan’s battle with cancer made her realize there had to be more to life than just avoiding death. She built Surviving Strong as a safe space for anyone who’s struggling –  to help them live life to the fullest and give them a community that will be there for them no matter what.  Tune in to this week’s episode to learn about Susan’s mission, understand Surviving Strong’s unique philosophy and get a glimpse into what marketing looks like for mission-driven businesses like Susan’s.  Here’s what we’ll cover in this episode: Susan’s background, her experience with cancer, and how she found a need that was not being met in her area.  Surviving Strong’s journey since 2009 and Susan’s resilience through personal setbacks and a global pandemic The philosophy behind Surviving Strong & how it’s different from the mainstream idea of fitness LINKS: https://survivingstrong.org/  https://studiogrow.co/  https://www.linkedin.com/company/studio-growco/  

551: Your CEO Day Makeover with Michelle and Beth Here’s what we’re talking about in this episode: Introduction to the CEO day concept and the importance of having a CEO mindset. Discussion about the CEO mindset and how to adopt it. The importance of self-care and protecting your time and energy. Implementation of the CEO day and how to make the most of it. Discussion about the importance of having a structured format, setting boundaries, and making it a non-negotiable in the calendar. Preparing for CEO days. Michelle and Beth recommend creating structure in your week, delegating tasks, using technology to automate tasks, analyzing your time usage, and doing self-care activities to get into the right mindset. They also discuss the importance of reviewing your finances, KPIs, and big picture projects during CEO days.  They also offer tips on overcoming obstacles to having CEO days and announce their upcoming virtual CEO day event. Links: https://studiogrow.co/ceoday https://www.linkedin.com/company/studio-growco/ https://studiogrow.co/  

Here’s what we’re talking about in this episode: Overview of KPIs that are important indicators of the studio's financial performance. Overview of KPIs that indicate the quality of the customer experience in a fitness studio. Explanation of four KPIs to evaluate the quality of the customer experience:  Conversion Rate Attrition Rate Net Member Change Average Membership Link. Emphasis on the importance of tracking KPIs to understand and target the needs of customers and achieve business growth. Links: https://www.linkedin.com/company/studio-growco/ https://studiogrow.co/  

Here’s what we’re talking about in this episode: Introduction to KPIs: KPIs (key performance indicators) are quantifiable measures used to evaluate the performance and success of a business. Importance of tracking KPIs: Without tracking KPIs, businesses operate blindly and make decisions based on feelings or hunches instead of actual data. Vanity KPIs: Not all data is valuable and some KPIs, like followers on Instagram, may not translate to increased revenue. Focus on KPIs that drive growth. Starting with financial performance KPIs: Michelle recommends starting with a few important financial performance KPIs, such as monthly revenue and revenue per member, to get a baseline understanding of the business. Revenue per member: This KPI measures the average amount of money generated by a member each month and can help improve revenue by upselling or adding new services. Revenue per square foot: This KPI measures the revenue generated per square foot of physical space and can help optimize utilization of the space to increase revenue. Payroll as a percentage of revenue: Payroll should be no more than 30% of total revenue and tracking this KPI can help make informed decisions on hiring and class scheduling. Links: https://www.linkedin.com/company/studio-growco/ https://studiogrow.co/  

Here’s what we cover in Episode 548: The future of capital investment in the fitness industry  A deep dive into which KPIs are most important from an investment standpoint  Pete’s insights on leasing out space, bringing in other partners and focusing on optimizing your studio space  What you need to do as a studio to attract investors – and seal the deal with them! If you’re planning to take some big swings in 2023, don’t miss this episode, y’all! LINKS: https://www.integritysq.com/ https://www.thehaloacademy.com/ https://thecamptc.com/ https://www.orangetheory.com/ https://www.soul-cycle.com/