Leveraging your time is the key to creating more time freedom and more financial freedom. You've heard this but how the heck do you do it? Where do you start? How do you know if you're implementing things in your business the right way? Here are the crucial aspects you need to know as you build small group, semi-private or boot camp programs in order to leverage your time, increase your impact and maximize your profits.
First things first. You need to have a good product. If your training is ineffective; if your clients are not getting results or if people are cancelling right after they join, the problem may be that clients aren't seeing the value of your service. Clean that up and then you can move forward.
You should have a system in place to ensure a consistent member experience. Are your workouts random? How does the rest of your team know how to execute a workout the way you like it to be done? It should be documented and your team should be trained on the process. What do you want a small group/semi-private workout to look like? What about a larger group class? Stay true to your vision and listen to your team as well. They usually have phenomenal ideas that will make your product even better.
Once you've designed and successfully implemented systems that ensure a consistent client experience, now you're ready to package and sell. Here are three things to know when you are designing your membership programs:
Here's the best part about the points I have outlined above: Retention.
If you sell a package to a new client and you're diligent about the value you create, the experience you ensure, the results a client achieves and you've done your homework to ensure that the numbers are in your favor, then you've successfully created a sustainable business. Clients will want to stay and your business will grow year after year. Now that you have a team executing your system you'll be able to enjoy that extra time and financial freedom, all while doing your part to impact more lives and help change the world into a more fit, healthy and positive place.
First things first. You need to have a good product. If your training is ineffective; if your clients are not getting results or if people are cancelling right after they join, the problem may be that clients aren't seeing the value of your service. Clean that up and then you can move forward.
You should have a system in place to ensure a consistent member experience. Are your workouts random? How does the rest of your team know how to execute a workout the way you like it to be done? It should be documented and your team should be trained on the process. What do you want a small group/semi-private workout to look like? What about a larger group class? Stay true to your vision and listen to your team as well. They usually have phenomenal ideas that will make your product even better.
Once you've designed and successfully implemented systems that ensure a consistent client experience, now you're ready to package and sell. Here are three things to know when you are designing your membership programs:
1. Know your numbers
Many trainers make two fatal mistakes when creating membership programs. First, they underprice their services. Second, they build pricing and packaging based on themselves conducting all of the training. If you plan on doing all of the training yourself, no sweat. However, if you plan on building a business that operates without you then you need to build in the correct amount of revenue to compensate your team for conducting the training. Here's an example for a group boot camp model:
(Note: When deciding on pricing, remember to use 52 weeks in your calculations)
Let's say I offer a 5x/week program to my members.
5x/week x 52 weeks = 260 workouts or ~22 workouts/month.
I price the sessions at $10/workout = $220/month for a 5x/week program.
If I get 10 people into a session at $10/person = $100/session.
If I pay my team $25/session then I have a $75 margin to pay myself, overhead, equipment, taxes, etc.
Now you might not start with 10 people in a group boot camp and that's ok, you need to start somewhere. However, it's crucial to have an understanding of pricing and packaging so you create a sustainable business.
(Note: When deciding on pricing, remember to use 52 weeks in your calculations)
Let's say I offer a 5x/week program to my members.
5x/week x 52 weeks = 260 workouts or ~22 workouts/month.
I price the sessions at $10/workout = $220/month for a 5x/week program.
If I get 10 people into a session at $10/person = $100/session.
If I pay my team $25/session then I have a $75 margin to pay myself, overhead, equipment, taxes, etc.
Now you might not start with 10 people in a group boot camp and that's ok, you need to start somewhere. However, it's crucial to have an understanding of pricing and packaging so you create a sustainable business.
2. Sell programs based on client needs and be able to present choices
Sell results, not just a "5x/week boot camp." Since it usually takes at least 12 weeks to see some significant progress for weight loss or even strength, I would recommend offering at least a 3-month and 6-month program. Or perhaps you think 6- and 12-month works best. Whatever you decide, sell your program based on what the prospective client needs and always present two choices. For example, "Mrs. Jones I think 6 months will truly help you achieve your goals and I think it's perfect to get started. However, if you would like more help and accountability to get the job done we also have our 12-month program available which provides the most cost savings. Which would you prefer?" This takes a "yes/no" answer off of the table and invites them to make a decision about moving forward. (Note: If your 6-month program is $220/month then your 12-month program should come in a bit lower at the per workout rate without sacrificing your margins. This will entice the prospect to move forward with a longer-term commitment.)
3. Have a system
Yes, it's true. You need to have a system in place to meet with your prospects, ask them probing questions about their goals to uncover the pain and present yourself as the solution. What are their fitness goals? When was the last time they were in great shape? Have they tried (and failed) to get results on their own? On a scale of 1-10 how committed are they to achieving their goals? You need to have a script set-up to flow through the sales and membership process (like a person not a robot) and present your membership options professionally and with confidence. You need to practice, practice, practice this process until you can do it in your sleep and ALWAYS ask for the sale. If you don't help them, who will?
Last but not least... rinse and repeat for small group/semi-private training or any other membership program you plan on creating.
Last but not least... rinse and repeat for small group/semi-private training or any other membership program you plan on creating.
Here's the best part about the points I have outlined above: Retention.
If you sell a package to a new client and you're diligent about the value you create, the experience you ensure, the results a client achieves and you've done your homework to ensure that the numbers are in your favor, then you've successfully created a sustainable business. Clients will want to stay and your business will grow year after year. Now that you have a team executing your system you'll be able to enjoy that extra time and financial freedom, all while doing your part to impact more lives and help change the world into a more fit, healthy and positive place.
