I’ll be hosting a LIVE Webinar this Friday titled:
Cash flow has been the overarching theme since this pandemic started.
The ones that had cash reserves sweat a little less that those that didn’t.
If there’s one lesson to walk away from this pandemic it’s to have, what my best friend and CFO Mike Waldron calls …a Cash Cushion.
Many people think that driving cash is all about getting new clients.
This could not be further from the truth.
Driving cash can come from lowering expenses, selling more things to your current members and my favorite…
This needs to be engrained in the way you think about making money as a gym owner.
The ones that get caught up in thinking one dimensionally and ONLY focusing on leads and new clients will never build the wealth they could.
I’ve been very outspoken that 1-1 personal training is a bad business model when compared with small group
I still feel that way
I’m not even close to ready to lose small group but I think it’s a smart move to start doing more 1-1, especially right now.
There are 3 things going on right now making me like 1-1 a LOT more.
- Most gyms need cash and selling a large package of 1-1 sessions is a great place to start, my personal preference is 30 minute sessions (tip of the cap to my friends Brent Gallagher and Anthony Bevilaqua for that)
- Due to the Virus, some people are skeptical of groups, no matter how small and 1-1 may be the ONLY thing that gets them back to the gym.
- The people that would buy this are easy to find… they’re either current clients, former clients that wanted a more premium service or could be children of your clients that need specialized training.
So, if cash is the need right now, this concept seems to work well
It increases the amount of the initial sale, gets someone back to the gym that would’ve stay on freeze and pretty much costs you nothing to get them as you already had the relationship.
I’ve been preaching to you since this thing started to get creative in the midst of all this
To give you a little help and to fill your mind with a bunch more creative ideas like this…
I’ll be hosting an ultra-important webinar for gym owners this Friday at 12 PM EST titled:
Here’s what you’ll learn:
- Positive Cash Flow: Which staff to bring back – and which staff to let go completely…
- Running On-line and Offline: How to transition between virtual and in person gym for maximum profits
- Setting up Your Gym: How to set up your gym and announce to your members that you’re open – without scaring them off… (Hint, don’t tell them “we’re open”)
- Your Marketing Message: How to market your gym for less than you were before covid-19 … and still get more clients.
- Covid Program Design: The type of programming that is all but virtually guaranteed to be EXTINCT after COVID-19…and what to do differently.
Hope to see you there
P.S. I’ll only be running this webinar once so please do your best to get there on Friday.