At the start of the year, I always take a look at what has worked best for the growth of the studio owners that I’ve helped. This top 10 is an important reminder of the key strategies adopted by the most successful studio owners out there.
Whatever level you’re at right now, there’s always room from growth, more profit and of course more impact. The goal is to get you more money in your pocket so you can take some important time off!
PODCAST – STUDIO SUCCESS PRINCIPLES PART 1
PODCAST – STUDIO SUCCESS PRINCIPLES PART 2
To listen to the podcast on iTunes click here.
Let’s get straight into it…
1. They Always Optimize Their Systems & Have A Strong Business Model
There are lots of different business models you can operate when growing your studio. What I’ve found best for my clients when they are starting is a small space or stepping stone location with semi private training (4-8 people average). If you have the right combination of rent cost and your prices are structured correctly, you will find a great profit margin is possible.
2. They Sell A Results Driven Program, Not Time
The standard way of selling personal training is sessions and blocks. Top performing studio owners offer the outcome and have a radically different sales process than what is typically taught at ‘pt training school’. They have a plethora of before and after pictures and it’s likely that clients will sign up for lengthy transformation programs. They keep on continuing because of the results they are getting.
3. They Are Master Closers
Any successful studio owner would have spent a lot of time learning a successful sales process and then continuing to develop it. They understand that sales and closing is a part of business and the key part in helping someone who is fearful, overcome their objections to moving forward beyond money, time and partner excuses which are simply diversions. Check out this podcast on the 85% Fitness Sales Closer.
4. They Don’t Just Rely On Facebook Ads
Successful studio owners are out in their communities, running events, using multiple channels and attracting people to them through speaking, joint ventures, partnerships and referrals. Yes they use Facebook ads, but in addition to other platforms.
5. They Have A Strategy For Growth & Aren’t Afraid To Let Go
It’s one thing to open your studio, but when it comes to growth they are always asking the question ‘how can we improve’? and ‘what’s the next level’?. This comes down to key hires (the right people in the right seats), expansion, personal development and ensuring the brand message stays current. They know that every time you solve one challenge in a business it presents another new one (i.e, you sell yourself, and now you bring on a sales person, but then you need to manage them). They also understand that they need to step away from certain parts of the business so it can grow, despite sometimes being emotionally attached to it.
6. They Don’t Spend The Majority Of Time Training Clients Especially 1-1
One of the biggest and most powerful shifts a studio owner can make, and is often the most challenging is stepping away from the personal training and allowing someone else to take over. This is challenging because of the ‘I’m the best person to do this’ attitude. Often though, when you’re in the seat of running a business, the best thing you can do is find talent and let them take over in areas where you may be burned out. You can only scale a business so far if you’re training clients throughout the day, and there’s only so much energy you have to give.
7. They Know Their Numbers & Invest Wisely & Track Data
It’s easy to get excited running a business. That’s why it’s super important to know your numbers and make sensible decisions based on the data available to you. For many studio owners, the drive came through a passion to train others, and when numbers and data are ignored, you can stop growth opportunities. When it comes to investing, studio owners who are successful align with those who are similar minded and invest in both business and personal growth as well as internally within the team, equipment and members. They know the short and long term investment plays.
8. They Are Constantly Working On Their Mindset & Take Time Off
This is huge because as a business, grows, you must be able to handle the new challenges that come your way. Successful studio owners work on themselves, their beliefs and understand that the business will stay the same if their mindset stays the same. They also practice self care and know that if you always push, there’s zero time to refuel. Personal growth is high on the priority of those studio owners who have money, but also have happiness.
9. They Are Willing To Learn Marketing & Try Things That Most Won’t
With everything changing so fast, you have to be willing to learn and try new things. Successful studio owners tackle the marketing head on and aren’t afraid to be building landing pages and record videos if it will help the business to grow. But they also understand the value of outsourcing and bringing in help when they need to, to get to the next level.
10. They Have A Strong Community & Are Amazing Leaders
It’s one thing gaining a client, it’s another thing keeping them. The best way to do that is to build a strong community and that’s what the best studio owners do. They are committed to building their tribe and care dearly about their members, whatever level of package they have invested in. A true Fitpreneur and supercharged studio owner is an amazing leader that learns about leadership constantly. They want their staff to have a great experience as well as be paid for what they do. They know that a true leader is someone who grows other amazing leaders.
How To Grow A Highly Profitable Fitness Studio Without Training Clients Ever Again…
Did you enjoy these tips? If so, you should check out the amazing new training myself and Liam Britton put together to help you grow and scale your fitness studio. It’s free and will give you clarity about the studio you have, or a studio you’re looking to open in the future. Click here to watch the training.