Every Single Thing You Need to Know to Increase Rates at Your Gym
Run a Profitable Gym
English - June 10, 2024 04:00 - 43 minutes - 29.9 MB - ★★★★★ - 61 ratingsEntrepreneurship Business Health & Fitness fitness coaching crossfit business gym marketing ceo Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Every gym owner must raise prices at some point—and it can be nerve wracking.
Today on “Run a Profitable Gym,” you’ll learn exactly how to implement a rate increase, step by step, without generating a flood of cancellations.
In this episode, Mike Warkentin chats with longtime Two-Brain mentor and former gym owner Greg Strauch, who shares Two-Brain’s battle-tested plan.
Greg has helped 81 fitness entrepreneurs increase rates and stabilize their businesses so they generate profit and allow the owner to earn a good wage.
This episode lays out everything you need to know to implement a rate increase—but doing it on your own can be disastrous.
For example, you’re going to be tempted to write a long, defensive, apologetic email to your clients when you announce the increase. That’s a mistake—but it’s very hard to resist without an expert in your corner.
When you boost prices, nothing can replace the assistance of an experienced mentor who will guide you, support you and tell you, “Do this exactly like this right now.”
Key points:
1. Every single person Greg has worked with has raised rates successfully, so why would you be any different?
2. In most cases, a rate increase alone more than pays for the cost of mentorship, so getting help is a great investment in your business and your family.
Links
Chris Cooper: "Denying Discounts: A Short Guide for Gym Owners"
“How to Say 'No' to Discounts"
Gym Owners United
Book a Call
1:59 - Why are rate increases inevitable?
11:16 - Essential elements of a rate increase
32:23 - Client success stories
40:06 - Get a mentor