If I were your fitness business marketing consultant… the very first thing I would ask you to do is this:
Go rent, download or stream and watch “Moneyball.”
Honestly, the movie serves as a perfect metaphor for what’s going on in the fitness business right now.
And, why some fitness businesses are wildly successful and why some are headed for financial failure.
Moneyball is how I would ask you to start thinking about your business — regardless of whether it’s personal training, health coaching, a studio or a club environment.
How to Win
There’s a part in the movie where Pete explains to Billy that for decades, baseball has been looking at all the wrong indicators.
And, that traditional baseball looked at “Player Talent” as a way to win championships. He went on to explain that you don’t win games with “players.”
You win games with “runs.”
Fitness Business Moneyball
So, let’s apply this same analogy to the fitness business. You don’t grow a fitness business chasing “new members.”
You grow a fitness business by generating
“cash flow and net profits.”
I’ve written about this before.
You gotta love the part where all the team scouts and managers are sitting around a table discussing players.
These guys have lived baseball their whole lives. It’s in their blood. Seasoned pros. And they are set in their ways. They absolutely refuse to “open-up” their thinking.
As I watched this segment, it reminded me of how our industry continues to pursue business success through chasing new clients and new members instead of developing new ways to generate more money.
We’ve Always Done It This Way
Want proof…? Take a look at your email. How much of it claims to help you get more clients/members. Do you ever receive an email that claims to help you generate more money from existing members or clients..?
In fact, sometimes it’s just the opposite. Thousands of clubs continue to purchase trendy programs that cost a bundle in licensing fees, training, staffing and operations… yet don’t charge members for participation. So.. it actually adds to club overhead. Talk about a crazy strategy!
Get Some Pop Corn
Here’s some really great advice for planning your year. Watch the movie — first!
Then, think about how you plan to grow your business. Are you going to focus strictly on new memberships or focus on ways to make more money?
Just for starters… one of my most successful customers is a 3-trainer studio that generates an extra $575 per month in NET PROFIT… yes.. that’s $6,900 per year — with home-made energy bars negotiated with a local baker for a membership trade-out! — SMART!