A Problem For Every Solution
21m | Mar 21, 2024Tim's journey into the fitness business wasn't a typical success story.
He was working in construction management when he decided to open his own gym, although he had no experience in the industry before that. He wanted to create the perfect workout space and planned to fill his gym with equipment he personally loved.
However, his dream quickly hit a wall – the gym wasn't making money because the model he loved failed to meet market demands.
As his rent abatement period was nearing its end, Tim sought advice from a consultant, who introduced him to semi-private training. This model required a drastic shift from Tim's original vision.
He had to focus less on equipment and more on the services provided. It meant he had to move all of his nearly new equipment into a storage facility, overhaul his business model, and transform his general access gym into a training-centric facility.
Making the switch wasn't easy, but Tim trusted the data presented. Despite the financial risks and emotional attachment to the original concept, he decided to follow through, and the rest is history…
The key lesson for gym owners here is that sticking with something that's not working just makes things harder.
It's important to know when it's time to drop an idea you love and turn to something that does work, instead of creating a problem for every solution and making up excuses to do nothing.
In this episode, Tim and Randy discuss why prioritizing the business, being open to changes, and focusing on what truly matters – solving clients' problems – can set a gym apart.
Join them as they are talking about making tough decisions based on financial health and market demands rather than emotions and personal preferences.
Tune in to learn more about flexibility and adaptability in the fitness business.
Let’s dive in!
Key Takeaways:
- Intro (00:00)
- How Tim got into the gym business (02:16)
- Changing the business model (04:51)
- Implementing semi-private training model (10:38)
- The importance of business-first focus (12:58)
- The math behind model transition (15:10)
- Addressing fear and ego (17:28)
- Recap (21:48)
Additional Resources:
- An app designed for semi-private training - Semi Private Pro
- Join the waitlist for tickets to the 2024 FitPro Growth Summit
- Business Accelerator Program winninggym.com/call
- Learn more about The Iron Circle
- Business Talk with Fitness Professionals Facebook group
- Jump on a call with Randy
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