You need cash for your gym right now—so what to do?Offer a paid-in-full deal? Discount your offering? Sell some of your equipment?Not so fast. All those options can put your gym in a death spiral. For example, a paid-in-full deal that generates a quick cash infusion often puts gym owners against the wall at the end of the year. And discounts have sunk too many gyms to count.The good news: Gym owners have some great options when they need cash but don't want to hurt the long-term success of their businesses.In this episode, Chris Cooper explains how you can generate quick cash without hurting your bottom line in the future. He'll lay out the pros and cons of partnerships, equity sales and bank loans, and then he'll provide tried-and-tested tactics gym owners can use to get cash without punching holes in the boat. If you need money fast, pick one—or more—of the options and take action today!LinksBook a CallGym Owners United0:39 - When Chris got desperate4:11 - Partnerships, co-ops and bank loans14:19 - Paid-in-full problems16:04 - Solid ways to generate cash fast24:25 - Summary

During the pandemic, virtual fitness training exploded in popularity, and many entrepreneurs are still offering online coaching. But a new service brings new considerations when it comes to insurance, liability waivers and membership management. On today's episode of "Run a Profitable Gym," gym-owning lawyer Matthew Becker is here to help you cover all your bases with virtual training—from the wording of your insurance policy to laws that apply to out-of-state clients. He'll give you the info you need to reduce your exposure. Legal issues can be stressful and costly. Review Matthew's advice to limit risk and ensure your business is operating with maximum protection.LinksGymlawyers.comMatthew Becker on Membership ContractsBook a CallGym Owners United3:14 - Step 1: insurance policy7:51 - Step 2: liability waiver13:03 - Step 3: membership contracts

Are you attracting or repelling clients as a gym owner?No, really. Answer honestly. And if your answer is "no," review these questions:- Do you get into public arguments online?- Do you vent to your clients?- Are you tired, stress and underpaid?- Do you forget names?- Do you take people for granted and forget to thank them regularly?- Do you let your cell phone distract you from high-level interaction?- Do you avoid self-improvement?If you answered "yes" to even one of those questions, you have room to grow as a person. And if you do the work, your business will grow, too.In this episode, Chris Cooper breaks down the mistakes he made as a new gym owner and offers a host of simple tips to help you improve your likability as the owner of a fitness business. Remember: Clients are more likely to stick around longer when they like you, and there are things you can start doing today to make that happen.LinksBook a CallGym Owners United3:34 - 10 tips: hiding, hiring, focusing and more10:39 - Know when to rant13:58 - Six lessons from "How to Win Friends and Influence People"21:29 - The 5 Levels of Influence

In January 2023, Two-Brain's top-earning gym owners took home between US$16,000 and $21,000.That's not gross revenue or even profit. It's what the owners earned personally. And the big totals aren't one-hit wonders. Our leaders sustained these income levels over an entire quarter.Gym owner Jodi Butler was on that leaderboard, and she's here to tell you how she did it. Jodi, who runs Pittsburgh FIT, breaks down the key components of her successful gym, which provides a great income for her and fulfilling careers for staff members. A few of the keys: hiring so the owner can work on the business instead of in it, getting help from a mentor, and placing great emphasis on client retention. After Jodi pulls the curtain back on her business, she and host Mike Warkentin offer a few simple tactics you can use today to start earning more at your gym, studio or affiliate.LinksTwo-Brain Tinker ProgramBook a CallGym Owners United1:26 - Jodi's journey to paying herself5:50 - Staffing and benefits9:10 - Hiring a GM13:19 - Streamlining with mentorship28:00 - Strategies that work

What do top-earning gym owners have in common? A lot.In this podcast, Chris Cooper reviews the gym owners at the top of Two-Brain's January leaderboard for net owner benefit (NOB)—that's what these owners actually took home to their families, not what their gyms grossed.Each owner in the Top 3 earned more than $20,000 in January, but these aren't one-hit wonders. The stats are based on rolling three-month averages—meaning the owners earned an average of $20,000 a month over a three-month period.Push these stats out over 12 months and you're looking at gym owners who are on track to earn $240,000 a year from their businesses.So what are the secrets of top earners? Turns out the Top 15 owners on our January earnings leaderboard have three major commonalities: they use the Prescriptive Model, they have high average revenue per member (ARM), and they use client success managers (CSMs).Chris talks about each element in detail so you can find the same success as Two-Brain's top gym owners.One other commonality: All these owners work with a business mentor who helps them save time, avoid mistakes and create strong businesses.LinksTwo-Brain Tinker ProgramBook a CallGym Owners United2:54 - The Top 3 earners5:22 - Commonality 1: the Prescriptive Model6:57 - Commonality 2: high average revenue per member7:53 - Commonality 3: client success managers9:22 - Barriers to earning18:47 - Why care about net owner benefit?

How did Kyle Counts turbocharge his gym's retention and revenue generation? With the Prescriptive Model.In fact, he used it to double revenue in short order, and then he used it to drive that number up even further. Now, the simple system is the bedrock of his sales process. In this episode of "Run a Profitable Gym," Kyle explains how making the change to a consultative approach transformed his business—Condition One CrossFit—for the better. By ditching free trials and actually siting down with prospective clients to find out about their goals, he made more sales, successfully presented more higher-value packages and retained great clients longer by showcasing their results every three months.The 411 on the Prescriptive Model: Gym owners meet with prospective clients, find out about their goals and prescribe the ideal plan to accomplish them. Then they meet with clients quarterly to review progress and make program adjustments that keep the clients on track. Use the model today to put your gym on the path to incredible growth.LinksThe Prescriptive ModelBook a CallGym Owners United1:18 - The old approach7:16 - The Prescriptive Model13:52 - Tracking progress18:47 - Systemizing goal reviews22:35 - The rewards

The Prescriptive Model has been used by hundreds of Two-Brain gyms across the world, and it's one of the most effective ways to increase revenue and retention.The short version: Gym owners meet with prospective clients, find out about their goals and prescribe the ideal plan to accomplish them. Then they meet with clients quarterly to review progress and make program adjustments that keep the clients on track.Entrepreneurs who use the Prescriptive Model at their gyms have a much easier time closing sales with high-value clients. We track sales metrics in hundreds of gyms, and the free consultation at the beginning of the Prescriptive Model beats the free trial when it comes to closing rate. The cyclical nature of the Prescriptive Model also keeps gym clients engaged. The first 90 days of membership are critical to retention in a fitness facility, and our model contains precise tactics that measurably improve retention. In the gym industry, average client retention is 7.8 months. The average Two-Brain client's retention is more than double that: 18.8 months. Finally, the Prescriptive Model has a profound effect on total revenue and average revenue per member. It allows gym owners to present high-value solutions to prospective clients in a simplified, direct, genuine manner. At subsequent meetings to review progress, clients regularly upgrade their packages.In this episode, Chris Cooper breaks down the Prescriptive Model step by step, and he lays out the solutions to implementation problems you might encounter so you can start using the model today to improve your gym.LinksBook a CallGym Owners United1:57 - The Prescriptive Model step by step9:16 - How the model increases your value13:55 - Mistake 1: no consultation16:09 - Mistake 2: no objective measurements17:02 - Mistake 3: no prescription upgrades18:51 - Mistake 4: forgetting nutrition20:25 - Mistake 5: not doing goal reviews

Lawyers are experts when it comes to limiting risk for their clients, and Matthew Becker is here today to help you reduce exposure with employees, contractors and third-party contractors.Becker owners Gym Lawyers PLLC as well as Industrial Athletics in Pittsburgh, so he's run into all the situations common in the fitness world.Employees, contractors and third-party contractors all come with risk, but if you take the right steps, you can keep your business as safe as possible. Matthew will walk you through the essentials of insurance, written agreements, LLCs, sublease agreements and more.Listen, cover your bases and then get back to training clients.  LinksYour LLC Isn't Protecting You If You Do These 5 ThingsGymlawyers.comBook a CallGym Owners United2:30 - Legal exposure with employees9:00 - Legal exposure with contractors21:15 - Legal exposure with third-party contractors

How should you set the rates at your gym, affiliate or training studio?There is a formula, and it doesn't involve guesswork. Instead, you'll just have to enter some numbers on a spreadsheet you can request at Gymownersunited.com. In this podcast, Chris Cooper offers a look at that spreadsheet and explains how it works. He'll also tell you what's at stake: your profit margin and the long-term success of your business. If you guess on your prices, you might lose hundreds of thousands of dollars—and you'll lose a lot of sleep, too. Set your prices correctly and you'll have a clear path to breakeven and then great success as a fitness entrepreneur.After he shows you how to set your rates, Chris will tell you how to avoid common pricing mistakes. He'll also provide three tools you can use to create more value so you can make bigger sales when meeting with prospective clients. If you don't have a sales binder, a value stack and a high-ticket offer, you're missing out on revenue. Chris will tell you how to create all of these things—and when you need to do so. Don't guess and race to the bottom with prices. Become a better gym owner and get paid what you're worth.LinksBook a CallGym Owners United1:06 - How to set your rates4:48 - Can you increase average revenue per member?6:04 - Using a pricing binder to create more value with clients8:52 - Building a “value stack” at your gym12:36 - Creating high-ticket/high-value offers17:06 - Recap and key takeaways18:20 - When to add a high-ticket offer

Gym apparel sales don't always go well. Low or nonexistent margins are common, as are weak marketing and unsold inventory that clogs up cash flow.By contrast, some gym owners gross $34,000 a year in apparel sales or use retail to tack thousands of dollars onto net profit. In this episode, Mike Warkentin talks to Matt Albrizio of Forever Fierce, who offers specific tips and tactics any gym owner can use to start making money with retail. Matt covers how often you should place orders, how much you should order, how you should price your gear and how you should get rid of unsold inventory.Follow these tips and move every single unit out the door when you have the next apparel sale at your gym.LinksForever FierceBook a CallGym Owners United2:42 - How often to order gym apparel and how much variety to offer6:10 - How much should you order, and how to use pre-orders to avoid unsold inventory9:43 - Does your gym need a "pro shop" with stocked apparel?13:04 - Pricing and margin recommendations for gym apparel  16:48 - How to calculate your break-even point and target profit19:35 - How to get rid of unsold inventory24:07 - Limited editions and cash collection at time of sale26:28 - Marketing tips, social proof and "a culture of gym apparel"