Members are begging you to be profitable because they are a part of your noble dream.
We are a group of individuals who have the audacious belief that our services truly change lives. When our members get more fit we often can confidently say our services are adding time to their existence on Earth.
We know that journey is hard, which is why we chose the boutique and microgym model of more individual attention and smaller groups for our members. Not the globo-gym model of selling access to equipment for a small monthly rental fee where the quantity of members is most important.
You’ll hear this about profit, but it’s the same truth for health: A healthy business is a profitable business, and that business can have a million dreams. A business with zero profit can only have one dream. Our noble dream is connected to helping others have endless possibilities for their own dreams.
That is what inspired us to risk gym ownership.
Our noble purpose spurs us into action. When things don’t play out like they did in our mind, our motivations can carry us through the tough times. However, this “purity of purpose” can also lead us to believe that we don’t deserve to be profitable. We tell ourselves, “I’m not in it for the money.”
If it so happens that we end up having profit (by accident) and are able to upgrade our lifestyle a little bit, it’s just a happy consequence of owning the gym. It’s acceptable.
However, if we ever consciously focus on turning a profit, somehow we have corrupted our purpose, as if to say we become tarnished individuals and are now on a slippery slope of becoming a corrupt business owner, the type who takes advantage of workers and preys on the weak.
This could not be further from the truth.
You deserve to be profitable!
As gym owners, we have to understand that profit is important because it allows us to focus on investing in our staff, or improving the member experience, or upgrading our equipment, or trying to add a new service our members want, or expanding our locations to serve more.
Profits help us reach our dreams.
We all have them. I’m willing to bet not one of us has a gym because we really like teaching people about a full-depth air squat or getting to full extension before dropping under the bar. We do it because we know what the air squat does for our members. They’ll have the ability to get off their couch, they’ll be able to jump on the trampoline with their kids, they’ll be able to help their spouse unload that giant piece of furniture she just bought on sale. (Look how much money I saved!)
We help them live longer. Our services give members confidence. They feel sexier. Their clothes fit better. We save them money because they don’t need their prescriptions anymore.
We can’t do any of that, at least not for long, if our gym doesn’t have profit!
This is what profit really is: Profit equals a greater ability to serve.
Have you ever found yourself saying things such as:
- I’m OK that there is no money in this business because I’m serving a greater purpose.
- People are cheap and they won’t pay my rates.
- It’s really just a hobby I’m really passionate about. I don’t even want to be paid.
- I just need 10 more members.
- Numbers just aren’t my thing. I’m not an accountant and I’ll never understand this stuff.
- My members will think I’m greedy if they find out the gym is a very profitable business.
- There’s no money in this business anyway.
- I’m just here to help people.
These are all just stories, and they can be changed.
Thank goodness, because those are real turds of stories. Here are some ways to rewrite the turd stories into better stories.
- When I make money, I can serve more people.
- I value what I do and so do my members. They will pay our rates.
- I’m so grateful that I get paid good money to do something I’m so passionate about.
- I control my cash flow and will figure out how to be profitable with my current number of members.
- I may not understand accounting stuff yet. But I’m ready to learn what I need to because I’m more than capable of getting this.
- I deserve to be profitable because profit will allow me to serve my purpose.
- My members deserve for me to be profitable because it allows me to enhance their experience.
Those stories feel much better.
You wouldn’t tell a member “you’d probably be able to lift more if your form didn’t suck”—you know that negative approach won’t work.
Don’t use a negative approach with your stories either.
Rewrite them. Be positive. Know that you deserve to be profitable.
When you change the story about your business and move your gym to profitability, you actually make it possible to continue to do your noble work…
And your members will love you for it!
Make your change now!
Pick up your copy of Profit First for Microgyms today.
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