Built To Grow

If you want to run a successful fitness business, you have to know your numbers. If you don’t know the numbers, then you don’t have a business.As a matter of fact, this is one of the major differences we see in our coaching program between successful gym owners and those who struggle.In this episode, Tim and Randy break down some of the numbers you should know and explain why. You don’t have to know them by heart, but you should be tracking them and at least have them somewhere on a dashboard.These metrics will give you a clear picture of the health of your business and inform the decisions you make. They help remove guesswork or emotions from your decisions.Check them out!Key Takeaways- Gross revenue (04:00)- Net profit (05:25)- Client lifetime value (06:40)- Month-over-month growth (10:40)- Cost per acquisition (11:37)- The delta (12:26)- Take emotions out of data (16:59)- Revenue per client per month (17:14)- Churn (18:50)Additional Resources- The Math of Marketing Free Training - Learn more about our Coac

We are in the process of rebranding our gym, Pulse Fitness, into Legacy Personal Training. We've invested $500,000 into this rebrand with repainting, flooring, equipment, and lighting. It's just a brand-new facility.While we were able to raise most of this capital out of pocket, we also had an ingenious way that you should hear about. We've not heard of any other fitness facility doing this.During the State of the Union address to announce the rebrand and the changes that will happen, we announced to the clients that we were selling ten lifetime memberships for $25k each.With a lifetime membership, a client gets unlimited lifetime personal training, products at cost, parking space, and many other perks.So far, we have sold 7 of these lifetime memberships, with the other 3 going soon.For a gym owner who has been in business for a while, this is a fascinating way of raising capital to fund your next gym without going into debt.Tune in to learn more details on how we did it and how you can implement

Today, we have a question for you…Why on earth do we in the fitness industry feel like we have to give away some of our services for free in order to attract clients?I mean, scroll through your social media feed and notice that all fitness ads have something promised for free. It might be a free week, free consultation, free sessions, etc. There’s always something in there for free.This rarely happens in other industries. Clients are expected to pay for the services and goods they consume.We want to throw a flag in the ground and declare that you should not be giving away any of your services for free.How then do you market your business? Listen in for a foolproof strategy to attract clients without giving away anything.Key Takeaways- Why do we give away services for free (03:25)- Don’t devalue your services by offering them for free (04:38)- Don’t compete on price (06:52)- Market the benefits of your service, not the price point (08:19)- Cost vs. value (12:11)Additional Resources- Learn more about our Coachi

As a fitness entrepreneur, you will likely suffer from a lack of motivation at some point in your journey. It is common, especially when everything is going well and there seems to be a lack of excitement or challenges to solve.That’s when the fun fades, and we start feeling tired of what we do.One of the ways to stay moving when you don’t have the motivation is to remember your why. If you have a big enough why you’ll find it easier to overcome the lack of motivation that occasionally creeps in.In this episode, Tim and Randy share some mindset tips that will help you to stay motivated and achieve your goals.  Key Takeaways- FitPro Growth Summit 2023 (01:04)- How to stay moving when you don’t have the motivation (03:52)- When the why is big enough, the how doesn’t matter (04:46)- Setting automation to help with momentum (09:22)- Take the first step to stay in motion (14:24)Additional Resources- Learn more about our Coaching Program for Gym Owners  - Learn more about The Iron Circle - Grab your tickets for 202

To succeed in a gym business, you need to nail four systems:Attraction – Marketing SystemsConversion - Sales systemsDelivery systemsAscension systemsIn today’s episode, Tim and Randy give you an overview of the ascension system, where you get somebody from never hearing about you to buying your highest ticket offer.This is a big part of our coaching program, where we help gym owners create a value ladder and then create a system to move clients all the way up to the highest offer.In this day and age, and especially in the fitness industry, it makes sense to monetize and grow your revenue per client because there’s a finite number of clients in the market.It’s much easier to upsell to your existing clients and maximize the amount of money they are paying you, which in turn gets them better results.Tune in to this episode to learn of the exact way we do it for our coaching clients and help them make more money!Key Takeaways- The four systems in a gym business (01:40)- How to make more money in the gym (02:22)-

When was the last time you celebrated achieving a milestone in your gym?Let me take a guess…You’ve probably never even thought about it.If you are like the average gym owner we see in our various programs, you don’t even know when you hit a significant milestone. I, too, was unaware of this when I started out in the industry.Part of the reason why people in the fitness industry hesitate to celebrate wins is the belief that our success somehow comes at the expense of our clients.In this episode, we look at some of the significant milestones that every gym owner should be aware of and celebrate when they achieve them.But that’s not all; we want to give you some cool awards once you hit these milestones.Tune in to learn how to qualify and other details about the awards.Key Takeaways- The big milestones in a gym business (01:31)- Celebrating our wins (03:58)- The 3 cool awards we are giving gym owners (05:29)- Keeping tabs on the success of your business (07:08)- How we verify your numbers (08:52)- The FitPro Gro

In the fitness industry, we generally don't talk a lot about attrition. It's common to hear people talk about how they signed on an X amount of members but rarely will you ever hear about the cancelations.Yet, this is a huge reality in our industry.There is no single gym that has 0% attrition. No matter how good your service is, some clients will always leave for reasons beyond your control.The secret lies in understanding how to cover that attrition and even get ahead. And this doesn't always mean adding more members because there's a ceiling to how much money you can spend on marketing.Tune in to this episode for some practical tips on how best to solve the attrition problem we all face and get ahead!Key Takeaways- The fitness of business (01:26)- What's a good attrition rate? (03:21)- Growth vs. decay (08:07)- How to get ahead (10:34)- Why clients leave (13:53)- How to solve the problem once and for all (14:09)Additional Resources - Learn more about The Iron Circle - Grab your tickets f

$1 Million in revenue is a big milestone in the fitness industry and, indeed, for many small businesses. It’s an important number that perhaps indicates the business is thriving and destined for even greater things.For most gym owners, this is an elusive number that seems to be far away. In this episode, Tim and Randy demystify the math behind achieving $1 million in reoccurring revenue. It’s not as hard as you might think. It’s just about getting the numbers right.It doesn’t take 1000 members to create a million dollars in revenue. We do it here at our gym with just 200 members.Tune in to find out how we do it and the fitness business model that will get you there.Key Takeaways- The significance of million dollars in revenue (02:03)- Weekly pricing frequency (03:16)- How to achieve a million dollars in reoccurring revenue (04:04) - The good thing about a fitness business (10:54)- Semi-private training – the most stable model (12:56)Additional Resources - Learn more about The Iron Circle - Grab your tickets f

When somebody walks into a Burger King, they will give their order among all the options available. The staff there just take the order and deliver what the customer wants.In fitness, this shouldn’t be the case at all. We are not order takers; rather, we are the experts who should be guiding our clients on what’s best for them.When clients walk in for a starting point session or a sales consultation, they come to us because we are the experts, and they trust us to have a solution to their problems.If we go ahead and give them numerous options and ask them to choose, we are diluting our authority and essentially becoming order-takers.In this episode, Tim and Randy explain why gym owners need to be confident in their service and always come across as the expert who knows what’s best for the client.Listen in.Key Takeaways- The riches are in the niches (02:12)- Coming across as an expert in a sales consultation (04:44)- Who is your customer avatar (08:24)- Don’t be an order taker, be the expert (11:36)- Take the

Large group training, boot camp, and class-based fitness is a large red ocean, and the only way to compete in a red ocean is through price.This post we recently put up in our Business Talk with Fitness Professionals elicited a lot of debate. Some people felt it was inaccurate because they have done large group training for a long time and find it okay.But the point is, in class-based fitness or large group training concepts where many people are providing the same solution, the consumer will likely not see any difference and will go to the cheapest.When you don’t have a unique mechanism that you can articulate to the market, then the only differentiator is the price.  In this episode, Tim and Randy go through the evidence that shows large group training is a red ocean and what to do to differentiate yourself. Tune in!Key Takeaways- Why large group training is a red ocean (00:52)- What’s your unique differentiator (05:04)- Pricing is a bad differentiator (08:30)- How to market your unique mechanism (09:55)- Ta

Black Friday is around the corner, and as usual, we want you to sell as much as possible this year. This is a time when people are conditioned to buy and are on the lookout for offers. They are ready to spend money, and you just have to give them a compelling offer.The thing with Black Friday is that you can’t wait for long; you need to start preparing early. You’ve got to get your email lists ready and build up to that weekend.It is a massive opportunity to get ahead but remember that your leads will be bombarded with millions of other offers. The strategy here is to get to them before the others.Unfortunately, for this year, we’ll be offering the Black Friday workshop to only the Iron Circle members due to time constraints and other commitments. Consider joining the Iron Circle for this and other perks.In this episode, however, we give you some tips and strategies to craft your Black Friday offers and close those deals.Key Takeaways- The Iron Circle Mastermind (00:52)- Black Friday is your opportunity (02:3

Three years ago, in episode 50 of this podcast, we warned gym owners about the damage caused by the 6-Week Challenge type of marketing.We outlined the great damage it caused to a fitness business and why it wasn’t worth it.It then came as a surprise to us when on a call with a gym owner heard that this type of thing is still going around, and some people are falling for it. Upon further inquiry in our Business Talk with Fitness Professionals Group, we heard that it’s still common despite the damage we all know it causes.Understandably, it’s very upsetting to hear gym owners paying as much as $40k and having nothing to show for it. And that’s not all; they are left with a lot of mess to deal with.If you’ve even been thinking about this type of thing for your gym, just DON’T.In this episode, Tim and Randy explain why this is a very bad idea that will destroy your gym. Tune in.Key Takeaways- What the hell is happening in our industry (01:10)- The rise and fall of the 6-week challenge (02:01)- A marketing campaig

Fitness is one of the few industries where most people are so close-minded they don't want to share anything with one another.Maybe the inherently competitive nature of the industry makes gym owners wrongly believe that sharing knowledge with one another will somehow be disadvantageous.We know this because we have also been there with this abundance vs. scarcity mindset.But, once we learned the value of sharing information with others in the industry, our fortunes completely changed. It opened up doors and even bigger opportunities. That's how ProFit Solutions was born.It's time we all came together in the fitness industry and stopped viewing each other only as competition, rather as people working in the same industry. We need to start sharing more and build an alliance with each other.We all saw how powerful that can be during Covid when we are faced with a common threat.Tune in as Tim and Randy talk about this and other changes that need to happen in the fitness industry.Key Takeaways- Why are

Ask any gym owner what they’d want for their gym right now…. a vast majority of them would say more clients.But at the same time, one of the hardest things most owners have a hard time conceptualizing is how to make their gyms different from all others in the marketplace.This is important because, in the eyes of the consumer, if all gyms look the same and seem to offer the same service, they’ll go for the cheapest. It then becomes a race to the bottom, which is something we all don’t want.Your task, therefore, is to create something unique, then market it to consumers as the reason they’ll get results compared to the competition.Tune in to this episode to get tips on differentiating yourself to get more clients!Key Takeaways- Rethink everything (02:08)- The perceived value of quality (06:27)- What’s your proprietary formula (10:09)- Higher price equals value (13:49)- How the marketplace responds to something unique (16:04)- Give the consumer something different (19:09)Additional Resources - Grab your tickets

Brick-and-mortar gyms continue to face increasing competition from online and other fitness business models.But we have one giant advantage over all these other options that we should be exploiting to blow the competition away.The need for human-to-human interaction will never go away. We offer our clients this interaction and the great experience that comes with it.Unfortunately, gyms never fully embrace this advantage. If you were to focus on every aspect of your customer’s journey and make the experience as best as it can be, you’d never worry about the competition, whether online or from across the street.Right from the parking lot, to the reception, to the changing rooms, to how you deliver the workouts, everything should point to a great customer experience.That’s how you use your big advantage to beat the competition.Listen in for great tips on how to deliver a great experience in your gym.Key Takeaways- FitPro Growth Summit 2023 update (00:47)- The big advantage of brick-and-mortar gyms (02:33)- Onlin

There are those times in business or life, in general, we feel like everything is going great. We tend to pull our feet off the gas, soak in the feeling, and coast through these times.But we always advise gym owners that whenever they have a winning strategy, whenever your marketing is doing well and you are hitting those sales targets, it's time to press on the gas.This builds momentum, and we all know how powerful this is in business. It's hard for anything to stop you when you have momentum by your side.And the way to build this momentum is to nail the basics and do them consistently, then press the gas when you start hitting the home runs. That is how champions create distance.Tune in to this episode to learn more about being unstoppable by building momentum!Key Takeaways- Coaching client wins (00:53)- Consistency compounds (03:01)- The way to success (05:16)- You've got to out in the reps (06:26)- How champions create distance (08:06)Additional Resources - Grab your tickets for 2023 FitPro Gr

In this episode, Tim and Randy give you a sneak peek at what happens during our coaching calls with gym owners.We help many gym owners in our coaching program with various problems they face in their businesses and help them win.Among the most frequent issues we hear include how gym owners can remove themselves from the day-to-day of running their business.In this call, a gym owner couple wanted to reduce the hours they worked in their fitness business. To do so, we figured out they needed to generate more revenue and hire a new person to handle some things.Listen in to hear this particular coaching call went and how we helped this gym owner couple get their business where it was serving them.Key Takeaways- FitPro Growth Summit 2023 update (00:26)- Behind the scenes of a coaching call (03:46)- How high-ticket items can move the needle in a big way (07:41)- Testing a new offer with your existing members (10:11)- The ONLY 3 ways to make more money in a business (12:31)- How to transit your business with increme

We live in an age where you can reach out to anybody in an instant. Some of these people have the knowledge and information you want to solve a problem.But do you just reach out to them and ask them for it as many people do?We don’t think so. The expectation that somebody would stop what they are doing to help you is wrong. People are busy, and their time is valuable.The easiest way to get something you want is to lead with value. Let the other person know you value their time and their knowledge, so you are providing value in return.That value exchange will certainly get you what you want in life.Ensure you are investing in yourself to be in a position to provide value to others. Then people will be happy to help you as well.Tune in to this episode as Tim and Randy give tips on how to lead with value to get what you want.Key Takeaways- FitPro Growth Summit 2023 tickets (00:23)- Exchange of value (03:44)- Invest in yourself to provide value to others (05:23)- How to lead with value to get what you want (08:15

Last month had 5 Mondays, a great opportunity for businesses that run a weekly billing cycle to collect more revenue than in other months.But this can prove challenging if you run a weekly or biweekly payroll schedule. In some months, you can easily find P&L reading negative due to higher-than-normal expenses.The solution to this problem is surprisingly simple.It lies in fixing your base operating expenses and locking in your payroll twice a month, adding up to 24 pay periods in a year.This means that with each check, the employee makes slightly more due to the reduced pay periods, but for the business, it brings stability and predictability. You can easily project your expenses.There will never be a time in a 30-day period where an extra pay period is needed.Wanna know how all this works in a fitness business? Tune in as Tim and Randy take you through an easy fix to this problem.Key Takeaways- FitPro Growth Summit 2023 dates (00:23)- The problem with every other week payroll schedule (03:48)- Locking in

As a fitness entrepreneur, you probably appreciate the role of a coach, mentor, or being part of a coaching group or a mastermind.All these play an important role in our entrepreneurial journey because they help us level up and move to the next step.But every once in a while, we'll find ourselves in groups or coaching programs that don't serve us anymore.This means that the group has done its work, and you have outgrown it, which is a good thing.It's okay to move on.The key to determining if you've outgrown a group or a relationship lies in evaluating where you are and where you want to go.Holding on to something that doesn't serve you is no good.In this episode, Tim and Randy talk about the inspiration behind starting the Iron Circle Mastermind, having outgrown other groups, and how gym owners who qualify can join.Tune in.Key Takeaways- When it's time to move on (01:19)- Where are you, and where do you want to be (03:41)- The story behind the Iron Circle (06:10)- Why you need a mentor