Fitness Business School – 2 Simple Ways to Add Revenue

Full Transcript

Hey, Pat Rigsby here and in today’s episode, I want to give you two simple ways to add revenue to your business. Let’s get started.

Welcome to the Fitness Business School podcast, the show for fitness business owners who want to grow their income, increase their impact and improve their lifestyle. Be sure to listen till the end of this episode because we have a brand new special offer exclusive for listeners. So stay tuned.

Most of us tend to get locked in on, you know, our way of doing things. We have a process that we try to fit everybody into a kind of specific box, a specific way of doing things. So I wanted to give you two ideas, and not that either of these are exactly what you want to do, but they certainly might be one, you know, one or both might be something you’re interested in, but hopefully it also  get your wheels turning, gives you some thoughts on other ways that you might be
able to grow your business.

Well, the first of which is a friend of mine recently had gone to his doctor and had his annual physical and, you know, some of the things that, that, that he found out were, you know, things that he wanted to change, right? Like he just, you know, he wanted to get a little bit healthier, lose a little bit of weight, improve his blood work. So, you know, he asked me if I could help him with that. And so, I just kind of mapped out a plan for him and have tried to support him a little bit as
he started out on this plan. And the, the thing that I did was very much just say, okay, well, I didn’t start with, Hey, this is what you need to do. It was like, okay, well let’s start with what is realistic to ask as the first step in your journey.

You know, what, what can we do when it comes to activity, when it comes to structured exercise? What your normal day look like? Because, you know, he’s a busy guy that travels some for work and has multiple kids who are involved in multiple things. And so we talked through some of that and came up
with a simple plan that could be executed without, you know, asking him to completely throw his life into disarray and do things that, you know, we’re, we’re probably unrealistic with everything he has on his plate. And then, you know, just saying, okay, here’s how I can help support you with this, you know,
some sort of text access or whatever else. And I’m doing this just because I want to see him make progress. I wanna see him be, you know, healthy and active for his family, not because it’s a business that I have, right?

Like, I’m not actively in the training business on that side of things, but that sort of thing is readily available to so many people in your ecosystem that may not be a fit to come in and train with you three days a week in a group training session, right? Like program design. We’ve, uh, we probably at any given
time in the, the various training businesses that I owned would have, you know, a hundred to a know 150 different people that that was a lot of what we did. It was like, Hey, we’re gonna design your program and be a support system to you to execute it. And that’s, I think, a really viable profit
center. If you, if you are somebody who has any sort of audience that hasn’t converted, let’s say you’ve got a thousand people on an email list, but you’ve got a hundred training clients, well, that means you have 900 people that you could go make this offer to, but you also have a hundred training clients that
can introduce you to other people, that could introduce you to coworkers, to significant others, to friends who may live out of town.

And you could easily design a program that they could realistically execute and then provide some sort of support in fulfilling that program, right? Like, whether it is that person having some sort of periodic accountability throughout the week a 15 minute phone call every week or two, a
text check in a couple days a week to see how they’re doing, you know, access to you to answer questions. I think that it would be really easy for somebody to add, you know, an additional $1000-$2,000 a month if they wanted to do something like this. Because, you know, I think that it’s a gap.
It’s a blind spot in our market. Yeah, there are plenty of people who sell online training programs that are very cookie cutter, that are not adapting to somebody that are not personalized, that are not supported with any sort of accountability.

They try to plug stuff into a software and strip all the personality out of this and all the relationship out of it. No wonder people leave, no wonder they don’t stay around for more than a couple months. So that’s number one, that’s an easy thing that you could probably do. And it would work wonderfully too,
if you have people who are seasonal, right? Like if you are in a part of the country where people maybe move to Florida during the winter, or maybe you’re in Florida and people go back north during the summer. So there are plenty of different ways that, that you could do that sort of thing. But that’s, that’s
one that I would tell you that that probably not one in 20 of the people that I see run training businesses have added to their mix. The second thing that, that I see, that, that I think is a, a neat opportunity for people is during the summer, and it’s definitely not exclusive to the summer, but I think it’s got a, a
heightened, um, ability to be a valuable piece of the puzzle during the summer is a short term 10 to 14 day type of offering.

I recently had a client that had a 14 day program that was nutrition focused that I thought was wonderful and it kind of brought me back to a good decade plus ago when we had our bootcamp blueprint program. And, and that was probably closer to 15 years ago when we launched it. And BJ Gaddour, who later was the fitness editor for Men’s Health magazine, BJ was a partner in that program, and he had wonderful success with 10 and 14 day programs that kind
of had a theme, and there were an easy point of entry for a lot of people, and that was his front end offer. And then, you know, recently I’d had that client who had this 14 day program that was kind of the same thing in my mind. It feels manageable.

It is an investment that that is palatable, right? It’s between 49 and $99 usually. And it, it was something that, if you think about the summer, a lot of the objections that we get in the summer is just, people can’t be consistent long enough to commit to a lot of the programs that we may run at other
times of the year. They can’t do a six week challenge and feel like, Hey, I’m gonna be here all six weeks. And so they start to question the investment, or even a 28 day program or something like that. They’re like, well, hey, we’re going on vacation the, the, the fourth week of this, or something like that. But, you
know, 10 to 14 day program, somebody feels like, Hey, I can do some last minute stuff right before we go on vacation. And yeah, you’re getting people in into your e ecosystem as buyers, right?

So that’s a big step. You’re building a relationship with them, you’re getting them comfortable where it’s now normal for them to come in your facility. You’re, you’re kind of establishing this base where you’re different than the other things that they could potentially do because they know you, they’ve been
there, they, they feel comfortable. So there’s more, more of a likelihood that they’d come back to you than try something else completely different. But you’re also getting paid, right? Like you’re, this is a way for you to monetize time that isn’t necessarily a peak season. And a lot of times we don’t understand that we’re just like every other business that that has some seasonality to it, right? Like, but we’re so married to the subscription model, which, you know, I was very, very much an ad advocate of when nobody else in the industry to speak of was touting subscriptions.

We were selling 12 month subscriptions for training in 2004. Um, well that’s fine, but that doesn’t mean that everything’s always linear, right? It doesn’t mean that people are gonna have the same interest or same usage rates throughout the year. I mean, retail businesses do a lot better around,
you know, Thanksgiving to New Year’s, and then they have various sales throughout the year that they pick up. You know, restaurants have peak hours at lunch and, and at dinner. Everybody has some ebb and flow to what they’re doing. So if summers are a slower time for you, then consider integrating some
10 to 14 day programs that people can jump into and jump out of short term to, you know, to, to get in shape before they go do something. Or, you know, they’ve got a pretty good handle on what they’re gonna be doing for the next week or two.

And so they’re willing to make that kind of commitment. If you train athletes understand that a lot of times, the younger kids are a really robust market during the summer because parents want to send ’em out and keep ’em busy. It’s why so many so, so many schools have, universities have big summer camps. For lack of a better way of saying it, there’s a little bit of a babysitting component and, and you may feel like, Hey, I don’t love doing that. Well, that’s fine. I mean, you probably dislike being broke more than you dislike that. So figure out a way to weave that into what you do. So understand that both of the examples I gave you
are just two examples. There are plenty of other things that you could do, but being willing to kind of break the mold of, Hey, there’s only one way that I operate and there’s only one thing that I do, I think is a great advantage.

And if you’re an independent business owner, which is clearly the biggest segment of my network, this, this is a tool that you have in your toolbox that a lot of people don’t. Because, I’m reminded of this when, you know, I, I mentioned in a previous episode that I’m doing some stuff with the university right now. I occasionally do some stuff with franchises. The, bigger the organization, the more bureaucratic it is, the more rules and regulations are, the less
adaptable they can be, the less nimble they can be quickly, right? And so they’re not gonna roll out these types of things quickly. And this is something that you can kind of be the one category of one in your respective market. I guess you’re the only person that’s gonna probably be doing some of this stuff.

You’re not gonna have orange theory all of a sudden calling an audible and running programs like this. You’re not gonna have F 45 doing that. You’re not gonna have big box health clubs doing it. So if you haven’t considered this, I would encourage you to take a look at this type of thing. Now do that and you’re gonna see plenty of opportunities to grow your business. You’re probably gonna have a lot of fun doing some of this, and you’re gonna be able to attract more and more people that can become long-term clients.

Thanks for listening to this episode of The Fitness Business School.

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