#1: Include my own salary / retainer inside of my breakeven revenue goal, so I knew how much money I REALLY needed to make.
#2: Set Earnings Per Square Foot targets.
I looked at how much I was paying per square foot each month in rent/ lease expenses. Then aimed to make MORE than that back per square foot.
This helps you look at your facility more finely, to see spots that you COULD be monetizing passively but aren’t.
#3: I made 20% of my monthly revenue target from UPSELLS alone
Giving me some relief on having to A) get more and more clients, and b) making some NON-labour intensive money (better margins)
#4: The ULTIMATE Marketing Advantage:
Set up your finances so that you’re able to break even – or even LOSE money- on the first transaction with a client.
For example, if you charge £100/month for your service, you should be able to invest £100 to gain that client.
Once you can do this you have the ultimate economic advantage over competitors in your area.
They’ll NEVER spend that much to acquire the client, and will back out of the ads race well before.
I know a client is worth a minimum of £800 to our business. So investing £100 is not a problem.
Remember THIS tip, because it will be one of the most valuable you ever hear:
“Whoever can spend the most to acquire the customer always wins the market”
(Dan Kennedy)
#5: Stopped ALL 1-1 training. Its actually the least profitable model when you run the numbers
#6: Charge in the upper-mid to higher price bracket of your town.
Being the cheapest NEVER works out.
Even though it *appears* to make money as you get sales rolling in on a discount… ultimately its an unsustainable advantage.
Because someone will always come along and charge less, dragging you into a pricing war (where nobody wins).
Charge the most that your financial projections, cost of goods sold and marketing acquisition costs allow.
#7. Aim to make 60% of base target revenue from large groups (middle tier prices), 20% of target revenue from small groups (higher priced).
The largest and easiest to fill program should be your larger group. Therefore this is the focus of all your external marketing.
DO NOT TRY to sell semi-private, highest price programs to the cold market. Its the equivalent of asking strangers to marry you. It rarely works and when it does it costs you a lot on the back end…
Instead, lead people into your larger groups where the price is lower and you have more capacity to fill. This is your ‘bread and butter’.
If the majority of your revenue comes from a smaller client base of semi-private, then you are SCREWED when a percentage of them leave in the same month.
It always makes sense to generate the bulk of your revenue from a wider client base to protect your downside.
#8. Sell your semi-private / VIP / higher priced package internally
It costs no money because you’ve invested in building TRUST with those clients already. Plus, 5-10% of your client base will upgrade to something.
They’re just waiting for you to ask…
#9: Run local seminars for the public WEEKLY
Fastest way to establish yourself as the leading authority on health / fitness / weight loss in your town.
Gets you a metric shit-ton of clients too
#10: If space/staffing allows, run a large group and a small group simultaneously across from each other.
This makes your semi-private into an live ‘infomercial’ where your bootcampers are seeing the difference and wanting that exclusivity more.
At the same time, the semi-private clients get to show off their ‘status’ over the larger groups.
Its tribal psychology, and its at play 100% of the time whether you agree with the ethics of it or not. I choose to go with the natural flow
#11. Choose ONE Front-End Offer and STICK WITH IT EVERGREEN
Launching new offers every month is time consuming and confusing.
Instead I’ve had the same front end offer run for YEARS as our only marketing source.
Here’s how we do it: https://justindevonshire.com/how-to-run-an-insanely-profit…/
When you do that, your front end program takes a life of its own and gets way more buzz and attention locally.
Which of these are you already doing in your business?
And which do you think will help you next?
Share or tag with a fitness business owner who you think will benefit! (as long as they’re not within 10 miles of your facility lol
P.S.
Share this with a fit pro who needs more clients!
(but make sure they’re more than 10 miles outside YOUR area 😉 )
And if you want my help STEP BY STEP through all of this…
With my templates, tools and QnA at each point…
And you want help with
– Balancing your finances
– Forward projecting your growth to 7-figures
– Growing and leading a loyal motivated team
– Dominating your local area as the Expert Authority brand
– Offline marketing strategies
– Public speaking and how to sell from the stage
..then you need to be in my Mastermind mentorship for coaches.
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Access to weekly mastermind calls,
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Case Study: How Stuart Scaled His Team, Outsourced Himself & Is Now Looking For Location #2…
Case Study: How Keith Escaped The Hustle, Scaled His SEO Agency & Allowed His Wife to Retire
Case Study: How Imran Makes Over $50k a Month – Working Only 3 Days a Week [Video]
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