Run a Profitable Gym Chris Cooper

A gym that averages $812 per client per month?

You read that right. Two-Brain's top performers posted incredible average revenue per member (ARM) scores in February 2023 .

Everyone in the Top 10 was above $370, and the No. 1 gym was over $800.

In this episode, Chris Cooper goes over the leaderboard and then shares the secrets of the top gym owners. Some started using onboarding programs, while others increased rates, ran challenges or added small-group training. Regardless of the exact plan, all of our leaders focused on creating huge value for their clients.

Can you get similar results at your gym? Yes! Chris will give you a few tactics you can employ today to serve your clients better and earn more.

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Gym Owners United

1:12 - ARM leaderboard

5:32 - Perspective: your ARM

5:59 - Advice from the Top 5

14:30 - Key takeaways

Chad and Esther Pinther were able to turn their gym around and supercharge their earnings with the help of a Two-Brain Business mentor.

Chad at one time supported his fitness business with money from his modeling career—he's appeared in campaigns for Calvin Klein, Stetson, Patrick James and more. When the Pinthers wanted to shore up the gym business so they could spend more time together as a family, they started working with a mentor.

The results were dramatic.

The two increased gross revenue significantly, but they also increased net owner benefit—what they take home from the business. In fact, the Pinthers earned a spot on Two-Brain's January 2023 leaderboard for owner earnings. Everyone in the Top 10 earned an average of at least US$16,000 a month over a three-month period, and the Top 5 gym owners all averaged $20,000 a month.

In this episode of "Run a Profitable Gym," Chad explains how mentorship helped him create a profitable business that allows him to live the life he wants. 

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3:34 - Scarcity to Profit First mindset

9:31 - Making projections

13:33 - The turning point

18:09 - Mentorship to help steer the ship

21:06 - Creating value and charging accordingly

29:06 - Increasing average revenue per member

41:48 - Chad's advice to other gym owners

What's your gym worth? How do you calculate the true value?

Chris Cooper has the answer, and he'll tell you how to come up with a hard number in this edition of "Run a Profitable Gym."

In some cases, owners won't like the final number. If you're burned out, run down and out of cash, it can be tempting to just sell the gym. But you could be missing out on cash if you put it on the block right away.

Good news: Chris has seven steps to make your gym more valuable. You can use them whether you want to sell or keep your gym (we hope you keep it). But if you really want to offload your gym, it's best to have a business that's worth selling, and you can add significant value in just six months with a mentor's help.

But get this: Many struggling owners who improve their gyms before sale discover that the revitalized businesses are actually worth keeping.

Whatever your situation is right now, it helps to know what your gym is worth and how you can increase that number—whether you want to sell or build a strong, stable business that becomes a cash-flow asset.

Links

Rigquipment Gym-valuation tool

"How to Sell a Gym" guide

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0:39 - How to value a gym

4:59 - 7 steps to increase gym value

13:20 - How mentorship can help

15:38 - Coop's story—raising rates

Is your website bringing you clients or pushing them away?

Bad news: A recent audit revealed 80 percent of gyms have subpar websites that don't encourage clients to buy.

This is a huge problem. A poor website multiplies your losses. If you're spending money on ads, you're wasting it. And if you're lucky enough to generate organic traffic with sound SEO tactics, those people are clicking out without engaging.

In this episode, Two-Brain Business CMO and Kilo co-founder John Franklin walks you through the "5-second test" you should perform on your gym website today. He'll also show you how to audit your website using the "ABC method."

A stands for the "above the fold" section, also referred to as a website's "hero section." That's the stuff you see right when you land on a page. It needs to be clear and direct.

B is for "below the fold." That's the stuff people see when they scroll. You need a brief description of your core service, social proof and a secondary call to action.

C stands for "clear directions on how to start." Visitors should know exactly what to do if they want to take the next step.

Review your gym website today, then take steps to ensure it's helping your business grow.

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3:20 - The 5-second gym website test

8:20 - What you need "above the fold"

13:48 - Below-the-fold essentials

17:38 - The secondary call to action

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!

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Gym Owners United

0:39 - When Chris got desperate

4:11 - Partnerships, co-ops and bank loans

14:19 - Paid-in-full problems

16:04 - Solid ways to generate cash fast

24:25 - 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.

Links

Gymlawyers.com

Matthew Becker on Membership Contracts

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Gym Owners United

3:14 - Step 1: insurance policy

7:51 - Step 2: liability waiver

13:03 - Step 3: membership contracts