What if I told you that your gym membership could be worth $40k a year? You’re likely wondering what it takes to create such a plan and make it work.

Well, probably something like what Equinox is doing with their new high-end membership that costs exactly $40,000 a year. Equinox’s holistic wellness package includes offerings like blood work, sleep coaching, and personalized health services.

Their holistic approach is setting a new standard and shows there's a huge demand for high-end programs on the market. By following their lead and adopting similar strategies, gym owners can create premium services for their own clients.

For example, gyms can use biometric data to show the full benefits of their programs - not just weight loss, but also things like heart rate and sleep quality. They can also start cooperating with medical professionals and offer services like hormone replacement therapy and blood panels.

Having in mind that more and more people, especially younger ones, don’t trust traditional medicine, gyms have a great chance to fill in the gap and become more involved in their clients' overall health. We just need to think creatively about adding value and offering comprehensive health solutions to justify higher membership fees.

So, if you want to improve your gym's offerings and meet the growing demand on the market, tune in to this episode. Tim and Randy will show you how to transform your fitness business with premium programs.

Let's dive in!

Key Takeaways:

• Intro (00:00)
• Equinox's $40,000 membership (00:54)
• Holistic health approach (01:57)
• Importance of biometric data (03:09)
• Potential gym partnerships (06:06)
• Market skepticism towards doctors (08:20)
• Comprehensive health programs (12:12)
• Integrating medical services (13:36)
• Premium membership strategies (17:58)

Additional Resources:

- ProFit Accelerator: Helping Training Gyms Grow to 30K/month and Beyond Facebook group

- Join the waitlist for tickets to the 2024 FitPro Growth Summit

- An app designed for semi-private training - Semi Private Pro

- Reserve your spot for our 2-day experience in Scottsdale, AZ, May 30-31. Click to join.

- Business Accelerator Program winninggym.com/call

- Learn more about The Iron Circle

- Jump on a call with Randy

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If you haven't already, please rate and review the podcast on Apple Podcasts!

In this episode, Tim and Randy are sharing the details of the upcoming Growth Summit in Chicago. It is a must-attend event for gym owners who want to build a million-dollar gym business or those who already have one but would like to take it to the next level.

If you join them, you’ll learn about the Growth Summit, its history, and how it evolved from a small meeting in 2019 to a major event in the fitness industry, offering workshops, keynote speeches, and networking opportunities.

The Growth Summit is scheduled for September 5-7 at the Swissotel in Chicago. It is designed to provide gym owners with strategic, actionable insights from successful peers and industry leaders.

Those who decide to join will gain practical knowledge that can be immediately implemented in their businesses because it will cover various topics, including gym profitability, staff training, future industry trends, investment strategies, and many more.

This is truly a chance to transform your gym business because you’ll learn what the best gyms in the world are doing and how to replicate their success. Register now to secure your spot at the Growth Summit Chicago and take advantage of the early bird pricing.

For additional info, lineup, keynote speakers, and more, tune in to this week's episode, as Tim and Randy explain all the event details and the benefits of attending.

Get your tickets today!

Key Takeaways:

• Intro (00:00)
• Background of the Growth Summit (00:52)
• Event details: September 5-7 at the Swissotel, Chicago (03:19)
• Pre-conference workshop details and schedule (04:51)
• Speakers overview (09:09)
• Panel discussion with successful gym owners (23:06)
• Keynote speakers (29:31)
• Sharing successful gym strategies in small groups (34:19)
• Summary and registration details (36:30)

Additional Resources:

- Join the waitlist for tickets to the 2024 FitPro Growth Summit

- ProFit Accelerator: Helping Training Gyms Grow to 30K/month and Beyond Facebook group

- An app designed for semi-private training - Semi Private Pro

- Reserve your spot for our 2-day experience in Scottsdale, AZ, May 30-31. Click to join.

- Business Accelerator Program winninggym.com/call

- Learn more about The Iron Circle

- Jump on a call with Randy

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If you haven't already, please rate and review the podcast on Apple Podcasts!

Clients don't like change, even if it's for the better. Whether it's a change in gym policies, equipment, class schedules, or coaching – any adjustment can cause unrest. Even when changes bring more sessions or lower charges, someone might still quit.

Simply put, change naturally brings unrest because clients love routine just as much as you do.

So when it is time to introduce changes in your gym, make them all at once instead of doing it every couple of months. Yes, you will certainly lose some clients, but that fear is often exaggerated.

Take price increases, for example – data shows that only about 7% of clients leave, even when prices go up by 30-50%. When backed by careful data analysis, the decision to make such a change is a huge win.

But price increase is not the only change that can improve your gym business. In this week's episode, Tim and Randy discuss three small but powerful shifts that led to significant improvements in their gym's operations and finances.

Join them to learn more about these strategic adjustments and how you can implement them to boost revenue without causing client confusion and quitting.

Tune in now!

Key Takeaways:

• Intro (00:00)
• Clients don’t like changes (00:56)
• Membership simplification (03:44)
• Freezing membership options (06:04)
• Communicating benefits of new policies to clients (10:30)
• Flexible booking and cancellation policy (12:44)
• Perfect timing for implementing changes (16:36)
• Recap (19:57)

Additional Resources:

- ProFit Accelerator: Helping Training Gyms Grow to 30K/month and Beyond Facebook group

- Join the waitlist for tickets to the 2024 FitPro Growth Summit

- An app designed for semi-private training - Semi Private Pro

- Reserve your spot for our 2-day experience in Scottsdale, AZ, May 30-31. Click to join.

- Business Accelerator Program winninggym.com/call

- Learn more about The Iron Circle

- Jump on a call with Randy

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If you haven't already, please rate and review the podcast on Apple Podcasts!