 Health
& Wealth Newsletter
Sneak
Peek
Issue:
August, 2002
Headline:
Opening Your
Own Facility or
Optimizing The Value of an Existing Facility
While some trainers earn their livings by hanging
a sign outside a retail space, others spend years stifling
the longing to become "owners." Today, more than ever,
it's possible to open your own studio, not for "more money,"
but actually for less! Even a decade ago you would have had
trouble getting started for less than $60,000, but I believe
today you can do that with half that minimal investment. I
never recommend any technique or profit methodology unless
it's tested and proven. In order to ensure that I have evidence
to prove that the following information is legit and do-able,
I've set up a model studio in my office that any trainer can
replicate and use as a set up to generate hundreds of thousands
of dollars annually. The total investment required would be
just around $30,000.
Why did it become
so affordable?
 Well,
I'd say we have the explosion of functional training to thank.
We no longer need entire circuits of machines. As trainers,
we've now learned to help people find impressive results with
a balance board, stability ball, and elastic tubing. No, that's
probably not enough equipment to open a studio, but there
is a middle ground between just a few items and a versatile
studio loaded with expensive equipment. If you had $5,000
and a Power Systems catalog (everyone should have the Power
Systems catalog . . . if you don't call Holly in my office
immediately!), you can go on a nice little shopping spree
and build up an impressive collection of valuable, fun, and
cutting edge Personal Fitness Training equipment. In fact,
I believe the explosion of functional training has allowed
us to differentiate ourselves from a conventional gym where
the value of the membership lies primarily in access to expensive
equipment. Even more valuable has been the rush of functional
training classes, workshops, and videos allowing us to master
our skills wherever we may live.
Whether you work
in a health club, have your own business traveling to people's
homes, or you own or aspire to own your own studio, you'll
find this information valuable. Let's get right to it. Here
are the preliminary concerns for any trainer going into business:
Location & Positioning -
Marketing
-
Operations
-
Growth
If you can master
these four areas, there's no telling how far you can take
a $30,000 investment (or less). You've probably heard the
cardinal rule as it relates to retail or real estate. Location,
location, location. You might be surprised to find out that
of the four subjects I listed, it is the least important for
a Personal Training studio. You'll notice that in the same
line as "location" I've added "positioning." Positioning is
vital. Location is secondary.
The most successful
Personal Training studios I know of are successful primarily
because of the owner's personality, commitment, and marketing
willingness. I ran a profitable studio on the second floor
of an office building without any signage or street visibility
at all. One of the greatest mistakes a trainer opening a facility
can make is locking into a long term retail rent commitment.
*
* *
This
is only the introduction.
Want more? Click
Here to Order
What
will you learn in this issue?
How a trainer
can lease quality space inexpensively
How to market
without spending advertising dollars
How to build
on your core business
How to focus
your operations to position you for success
Some Quotes
from this issue:
I know the
conventional thinking is "visibility."
Visibility is absolutely vital, but think about it.
Are people motivated by the words "Personal Training?"
Initially I know trainers want to think they are, but I
can assure you, they aren't.
They're not motivated to spend money to hire a trainer.
They're motivated to spend money to reap the benefits,
and a sign in a strip shopping center
on a major thoroughfare sitting atop your location
will proudly say "Personal Training"
and not say a word about benefits.
Conversely,
if you can get yourself, rather than your studio, visible,
and
you can share your passion and you can express with clarity
the benefits your clients receive . . .
if you can position yourself as a purveyor of "Basic Understandable
Truth" . . .
they'll flock to your like fleas to a dog.
OK, maybe that's not a good analogy.
They'll flock to you like bees to honey?
Like women flock to George Clooney?
Men to Janet Jackson?
OK . . . you get the picture. You'll get clients. Lots of
'em!
This
information was excerpted from
Phil Kaplan's Health & Wealth Newsletter.
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