The Business of Boutique Fitness

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/  

Here’s what we’re talking about in Episode 547: How Anne Marie started her career in the fitness industry with programming Her suggestions for building programs that ensure cohesive client experience How Anne-Marie approached the project of building a boutique fitness concept in a 22,000 square feet space How Anne Marie and her team rolled out their idea of “boutique meets big box” in their marketing and messaging  How to build a wellness center model with physical therapists, drip labs and recovery centers by partnering with local, well-known businesses Anne-Marie’s tips on structuring management and sales teams  Y’all don’t wanna miss this one. Tune in now to start listening! LINKS:  https://www.linkedin.com/in/annmariebarbour/ https://themine.fit/ https://www.instagram.com/themine.fit/ https://www.soulbody.fitness/ https://www.technogym.com/ Balance Is Bullshit: A Realistic Approach to Integrating Healthier Habits into Your Life by Alicia McKenzie https://www.wimhofmethod.com/ https://hapana.com/

Here’s what we’re talking about in this episode: Debra’s first steps into boutique fitness and how her passion for the industry started  What happened when her passion evolved into her profession  The lesson Debra learned on false starts for clients and the way that led to her launching Row House How to approach digging deep into your client avatar and setting the stage for a strong brand  Some of the biggest things Debra has learned since she started her very first studio  Why she chose franchising as the path for her business with so many different options available  Deb’s tips to help you get into the minds of your consumer  Her thoughts on embracing all users or sub-avatars A prediction on what is to come for our industry in 2023 LINKS: https://www.linkedin.com/in/debrastrougo/ https://www.therowhouse.com/ https://connectedhealthandfitness.com/

These are some of the key trends and findings that I’ll highlight in this episode: Which sectors have seen exceptional growth in 2022 (and which ones haven’t)  Why human resources will be the most important conversation we have next year The industry-wide problem with retention rates and what’s on the horizon The sales process that’s our only way forward in 2023 The radical shift in digital marketing which affected the studio industry (& what the new marketing funnel will look like in 2023). If you want 2023 to be the year you witness unmitigated, unparalleled growth, tune in now to learn, assess and understand what’s on the horizon for the boutique fitness industry and start planning for next year ASAP!

Here’s what we’re talking about in this episode: How the iOS 14 update impacted advertising and marketing  The rise of in-platform marketing and how it can benefit business owners The best digital marketing funnel strategies to adopt right now (+ examples of what worked and what didn’t for Studio Grow clients) Why your follow-up system is more important than ever before right now & how SMS messaging can play a role in this process The 2 metrics that make marketing on TikTok totally worth it Y’all, if you’re in the process of building out your marketing strategies for 2023 right now, this is advice you cannot afford to miss. Go grab a notebook and start listening now! LINKS: https://www.successfuladsclub.com/ https://www.linkedin.com/in/tara-zirker-23a24035/

Here’s what we’re covering in Episode 543: Why it’s important to divide your New Year’s goals into 3 key categories Why your professional goals need to be separate from your business goals The best approach for setting business goals (& understanding what you need to improve to move the needle in your business) How to break your goals into S.M.A.R.T ones (& how further education can help bring them to life) Tips for identifying and overcoming obstacles, starting right now  If you’re ready to dive into goal-setting for the new year and set goals you’ll actually achieve this time, grab a notebook and tune in now!