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Run a Profitable Gym

Latest episodes

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Jul 18, 2022 • 40min

"The Shop Feel": Keys to $340 Average Revenue Per Member

Gym owner and Two-Brain Business Mentor Lisa Palmer earned a spot on the leaderboard this month with a $341 per month average revenue per member score.In this video, she shares the three simple strategies she employed to get there: 1. Athlete check-ins.2. Transformation packages.3. Choice. By truly getting to know her members' needs, Lisa calibrated her program to include specialty offerings that help clients hit their goals faster. These high-touch, high-value add-ons helped boost her gym's ARM from $120 to $341. You can do it, too.Links"Help First" by Chris Cooper3:39 - Putting a different value on fitness5:45  - Expanding higher-priced offerings: transformation packages8:15 - Social proof: demonstrating results to get clients12:00 - Creating a program that will solve problems for your ideal clients, pricing binder, sales process14:40 - Creating hybrid options20:53 - Accountability and action plans28:30 - Athlete check-ins and client-centered solutions32:46 - Add-ons
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Jul 14, 2022 • 15min

Two-Brain Awards: Stars of the Fitness Industry

Ashley Haun, Nyree Segui and Scott Romijn were recipients of this year's Two-Brain Awards in the Coach Education and Opportunity, Future Star and Owner Lifestyle categories. These intrepid leaders were laser focused on developing their teams, laying the groundwork for future success and enjoying the fruits of their labor. We chat with them to find out about the obstacles they met along the way, how they were able to work through them and what lies on the other side. Whether you're shifting your business model, working through a rough patch or growing opportunities for your staff, this episode is filled with key insights to help you move forward.1:05 - Seats on the bus: Ashley Haun on reorganizing team1:47 - Ramen noodle numbers vs. filet mignon numbers2:58 - Number tracking 6:00 - Nyree Segui on developing systems, laying the foundation, raising rates7:21 - Becoming fearless9:00 - Building momentum11:33 - Scott Romijn on taking more time off12:00 - Building a team that runs the gym without you15:04 - Build systems first, then teach the next person
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Jul 11, 2022 • 36min

Two-Brain Awards: Gyms of the Year and Epic Comebacks

What sets the best gyms apart from the rest?In this episode, we talk to the recipients of this year's Two-Brain Awards for Gyms of the Year (Culture and Metrics) and Comebacks (Resilience). Kyle Cato, David Allen, Charlie Banfield and Rich Borgatti have weathered the past year with grace and fortitude, and they've come out even stronger. Cato and Allen were recognized as the top Two-Brain gym owners when it comes to culture and key performance indicators, and Banfield and Borgatti faced down huge challenges to earn special recognition.We get into what worked for them, what didn't, and how you can use what they've learned in your own situation.Links"Epic Training: A Comprehensive Guide to Obstacle Course Racing" by Rich Borgatti1:48 - Kyle Cato on what gym culture is and how he developed it3:57 - Fun, Family, Fitness5:05 - Creating a safe haven7:45 - Raising funds to build wells in Africa10:08 - David Allen on getting over the $1 million revenue line11:49 - Reorganizing staff according to strengths15:14 - Paying attention to your metrics18:34 - Telling the story of your business21:03 - Charlie Banfield on changing his business model22:11 - Impostor syndrome and taking charge23:45 - Charlie's advice for other gym owners26:48 - Rich Borgatti on not giving up27:59 - Survival as the driving force29:12 - Profit First30:28 - The pressure test35:37 - Rich's advice for recession-proofing your gym
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Jul 7, 2022 • 18min

Developing Coaches Won't Grow Your Business

Developing your coaches won't grow your business. It can be hard to hear this, but simply investing in coach education might actually harm your gym instead.In this episode, Chris Cooper cites some examples of coach development gone wrong, but he also shows you the coach-development systems you can implement to benefit your coaches—and your gym and its members. When it comes to coach development, more knowledge is not the problem. If you want great career coaches, don't just send them away to get more training or upgrade their certifications. Instead, build a business with a large platform that will support coaches long enough that they can stick around for 10 years, make it a career and take the time to get really good at their craft. LinksCoach Evaluation FormBusiness Evaluation Form and Instructions1:00 - Technician's curse3:34 - Chris's story: hiring staff5:16 - Hire for personality, train for skill7:17 - An example of bad coaching11:16 - Coaching development13:47 - Lessons learned15:42 - What "coach development" really means16:49 - Building a better platform
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Jul 4, 2022 • 13min

Building a Client-Centric Business: The Key to Success in Service

If you want to have a successful service-based business, you have to build around the needs of your clients.In this episode of Two-Brain Radio, Chris Cooper gives you a framework to build a "client-centric business" using your mission, model and method. First you must clearly define your mission. Second, identify the strategy to achieve that mission—that's your model. Third, your method is your mechanism of delivery, which evolves over time to include new and more effective elements. Clearly mapping out your mission, model and method will get you closer to realizing that mission. You'll be happier, your clients will be healthier, and your business will grow faster, 1:00 - Chris's story - client-centric vs. coach-centric gyms2:19 - What's your mission?3:00 - Catalyst's mission.3:36 - Which model should you use?4:42 - What's your method? The method evolves.6:18 - How a method unfolds.7:39 - Catalyst's new method using the Prescriptive Model.
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Jun 30, 2022 • 35min

Ask a Lawyer: 3 Things to Consider When Buying or Selling a Gym

Thinking about buying a gym?While it's easy to get distracted by all the bells and whistles, you really need to ask three major questions first:1. Is the space the gym is in leased or owned? 2. What are the assets and debts of the current business?3. What contracts are currently in play and what exactly do they say?Gym Lawyers founder Matthew Becker takes you through these questions and explains how the answers can affect the sale of a business. Are there more legal issues that can have an impact on a big transaction in the fitness world? Absolutely. The best plan: Bring an attorney into the process in the early stages so you don't have to untangle a huge mess down the line when you're just about to shake hands on a deal.2:13 - Leasing vs. Owning6:41 - Pitfalls of not carefully reviewing lease terms11:17 - Establishing LLC, operating agreement and business account when buying14:32 - Asset purchase agreement vs. buying company outright19:30 - Legal fees for purchase21:12 - Contracts24:45 - Contractual red-flags29:34 - How to limit risk
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Jun 27, 2022 • 17min

Four Steps to Grow Any Business (Including Yours)

Every business scales through four distinct stages.Chris Cooper talks a lot about the four phases of entrepreneurship: Founder, Farmer, Tinker and Thief. To move from one phase to the next, you need to do the following: systemize, optimize, grow and scale. If you do these things out of order, you can break your business or go bankrupt yourself. The best way to proceed is to seek guidance from someone who has done it before: a mentor.Links"Founder, Farmer, Tinker, Thief"0:55 - Stage 1: Systemize1:35 - Playbooks and SOPs2:47 - Checklists and contracts3:00 - Stage 2: Optimize3:29 - Marketing funnels and organic growth7:00 - Stage 3: Grow7:30 - Stage 4: Scale10:00 - Dangers of skipping stages11:15 - Why rapid growth can be the death knell for your business14:10 - Bullets before cannonballs, testing strategies15:24 - Mapping the client journey
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Jun 23, 2022 • 36min

Ask a Lawyer: The Top 3 Lease Issues for Gym Owners

As a gym owner, you'll likely face some issues when it comes to your lease. Three of the most important elements: rent (including CAM expenses), use of premises, and additional costs you're responsible for through "triple net" leases (insurance, maintenance, etc.). How do you negotiate a better lease for your gym business? Is your rent increase justified? What happens when your use of the premises—dropping plates, loud music—becomes a problem for other tenants? We pose these questions and more to Gym Lawyers founder Matthew Becker. Matthew—a gym owner himself—gives you tips for covering your bases and protecting yourself as you navigate the tricky terrain of gym leases.Links"Breaking the Sound Barrier" by Chris Cooper2:15 - The "big 3": rent, use of premises, and what you're responsible for3:07 - What comprises rent 9:08 - Base rent plus fees12:52 - Recourse if base rent goes up 14:55 - Use of premises18:06 - Noise issues23:39 - "Everything is negotiable"27:07 - Protecting yourself32:27 - Cost of legal fees
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Jun 20, 2022 • 9min

The Four Habits Every Successful Entrepreneur Must Master

Every successful entrepreneur needs to master four habits in order to make  $1 million, $10 million or more: discipline, respect, influence and behavior.  You need to do one thing each day to grow your business before you do anything else. You need to respect others and teach everyone around you to behave the same way.You need to share your mission every single day with people inside and outside your business.You need to identify your heroes and take the actions they would take.These four habits put together—discipline, respect, influence and behavior—will create the impact you want to have on the world.1:06 - Habit 1: discipline2:56 - Habit 2: respect3:43 - Habit 3: influence6:45 - Habit 4: behavior
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Jun 16, 2022 • 19min

Profit and Passion: The Dichotomy of Successful Gym Ownership

As a gym owner, your method and your model will likely evolve over time. Your method should be "client centric": It should be based on what your clients need. Your model is there to give clients your service in the way they want to buy it. At Chris Cooper's gym, Catalyst, the Prescriptive Model guides the business. The prescription changes over time to serve the exact needs of clients, and the model reflects that. Your method might be Pilates or yoga or CrossFit—but the "meta" model should always be prescriptive: tailored to the needs of the client. The Prescriptive Model helps you provide clients with 10-out-of-10 service now and evolve to keep doing that forever.2:10 - Focused strength story: parking lot barbells4:19 - Reaching the limits of the model7:37 - The method and the model11:47 - Adapting your method and your model 13:38 - Maintaining a client-centered approach16:58 - Striking a balance

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