There are lots of gym owners quitting.
There are many new gyms open
style or they just got burnt out.
Whatever reason for these people closing their doors, their business simply was not an enjoyable process.
I am going to present a concept for what a business should be.
This doesn’t have to be just gyms, this could be used for any business.
A business should be:
I would be hard pressed to find a gym owner who closes their doors if they had a gym that was these 3 things.
People close their doors because they make things too complex.
They have too many different services, too many price points, too many different ways to coach an exercise, etc.
We are notorious for making something very simple like personal training into a massive elaborate process.
“Complexity is the enemy of execution”- Tony Robbins
The more complex your business, the harder it is to train people to do things the way you want.
The harder that becomes, the less consistent your business will be. A business that’s all over the place will drive you crazy.
There are probably few gym owners that quit the business that have a profitable one. It’s possible as money is not everything, but it’s probably rare.
And if they do, these are the few that will actually make money on the sale of their business.
Focusing on profitability is a key component to your happiness while running your business.
I see too many gym owners that put the profitability of their business in a hole with their payroll being too big, their prices too low, taking on too big of a rent, etc.
Understanding the difference between the profit of your business and the top line revenue must be a huge priority
I once ran a much less profitable business than the one I have today.
I was always focused on just getting more clients when I didn’t realize there was a ton more profit inside my business, I just needed to activate it.
So many people hate their jobs. They put on a suit, sit in a cubicle all day and wait till 5 PM.
Luckily that’s not us, but few of us take advantage of the available amount of fun we can have running our business.
Having fun creates a better environment for your members.
It keeps your team members there longer.
It just helps you be a happier person because you’re having fun all day long.
So, this is it.
This is Utopia for you, having a business that is:
If you could create a business that was simple, profitable and fun would you be happy?
I’m sure you would.
Question for you:
Which one of these do you need to work on the most?
Simple, profitable or fun?
Reply and let me know.