One of my favorite TV shows is The Profit on CNBC. It stars an investor named Marcus Lemonis. He goes into struggling businesses and turns them around.
He has three core principles: People, Process and Product.
He was working with a company that made drums for musicians.
The guys were struggling because they only sold one product. A drum set that was about $2,000.
Marcus jumped in. He created a new pricing structure for them using a pricing strategy called Good Better Best.
He kept the $2,000 set but added a lower priced drum for beginners for $800.
He also created another option for $8,000 for an experienced professional drummer.
They now opened themselves up to a much wider array of drummers. They still focused on their core product, making drums.
Pricing is a massive problem in the fitness industry.
Most people do not set themselves up to have a gym that makes good money because their prices are too low or too high.
I see guys offering only one very low-priced option. This makes it hard to make money because you’re playing a volume game.
I see guys offering only 1-1 training at $80 bucks a session. They don’t realize that when you break this out over a month you’re asking people to pay close to $1000 a month for personal training. Most people cannot afford that long term.
There are tons of things to consider when deciding on the programs you offer. Some things to consider are how much you should charge and how to create a pricing structure that actually makes you money.
I will be unpacking this in detail at my upcoming mentorship.
P.S. There are 2 spots remaining for early bird entry from yesterday’s email, if you missed it, read below:
I am finishing the landing page for my upcoming 2 day Business Building Seminar for gym owners.
The seminar is October 20-21 at my gym in Berkeley Heights, New Jersey.
The investment will be $1,000 when I release the page.
Here’s a very small fraction of what you’ll get:
I’m going to give you my best tactics on marketing and sales. You will leave the weekend with a ton of money making ideas for your gym.
Spend 2 days in a small intimate setting with me and my team. You will see my gym in action. Very few mentorships have this incredible unique part of their seminars.
You’ll walk away with our proprietary 364 Method for how we build our team. You can stop stressing and finally find the right people to help you grow your business.
You’ll learn how to structure your business so you can have a gym that makes you more money. Which, actually takes less of your time.
You’ll get my entire secret sauce for how to build systems for your business. You can stop working so hard and start letting your business work for itself (this is possible).
You’re going to walk away with an exact recipe for making serious money with Small Group Personal Training (what’s usually taught is dead wrong).
You’ll learn my exact formula so you can be more focused and manage your time. You can get more done, create more success and live the life you want.
Here is some proof this seminar is a really good idea:
“I tripled my investment literally the day I got home from the mentorship from implementing one small thing Vince taught me.” – Mark Izhak, owner MP Fitness in New York
“I’ve attended this Mentorship 2x and would recommend to any Fit Pro that wants to take their business to the next level” – Joe Meglio, owner Game Changer in New Jersey
“This Mentorship was eye opening and Humbling”- Andy McCloy, Owner BCI in Alabama
“If you want to help more people with fewer headaches, do your family a favor and sign the f%#k up for this Mentorship” –Brandon Kelly, owner CrossFit Joliet in Chicago
So, with all this said, I want to help 5 people out to get a 50% discount off the mentorship.
Once I release the page, the investment will be $1,000.
The first 5 people that call, (908)464-4441, and register for the Mentorship will need to invest only $499. Be sure to ask for Megan.
This is reserved only for the first 5 people and ALL sales are final.
That said, I do have a 100% money back guarantee.
If you show up to this event and go home and implement a few of the tools given and do not at least quadruple your investment over the next year, I’ll refund every penny.
Please remember that this is only for the first 5 people that register. Act quick and call (908)464-4441, and ask for Megan. She will answer any and all questions on the call.
P.S. Call (908)464-4441 to talk to Megan and get registered for a life changing event.