When I’m looking to quickly cut to the heart of the matter and understand how a gym is doing by the numbers, this is what I want to know:
Finances – Each of the Last Three Months AND 2022 Totals
- Revenue
- Expenses
- Owner Pay + Perks
- People Costs (excluding Owner)
- Everything Else
- Rent
- Total Marketing Spend
- Any other big monthly expenses
- Profit
- Profit Margin
- Owner Profit Distributions
- Total Owner Compensation (Owner Pay/Perks + Profit Distributions)
KPIs – Each of the Last Three Months
- Leads
- Trials/Low Barrier Offers
- New Memberships*
- Active Clients *
- Terminations*
- Total Sessions/Classes Offered Per Week*
- Average Utilization*
- Total Hours on the Floor for the Owner
- Average Revenue Per Month*
- Churn %*
- Lifetime Customer Value*
- Client Acquisition Cost
*Broken down by service if multiple services are offered (e.g. small group personal training, classes, nutrition coaching, 1-on-1 personal training, etc.)
Follow-Up Qs:
- What marketing channels are you actively using to generate leads? Please list them all. (e.g. referrals, email marketing, paid Google ads, paid Facebook ads, joint ventures, etc.)
- What is your target yearly Total Owner Compensation (Owner Pay + Perks + Distributions)?
- What is your target number of weekly hours on the floor (usually 0-15)?
- How many staff members do you have?
- Full time coaches?
- Part time coaches?
- Full time admin support?
- Part time admin support?
For most of the above numbers, I have some go to benchmarks based on the service and market that can help identify your next most important action.
Obviously this is a pretty high level and just a starting point for further questions. But it’s a damn good starting place.
I know most gym owners are interested in understanding how they’re doing compared to other gym owners. I’m considering doing a webinar where I share my suggested benchmarks for the above. Hit reply if this sounds of interest!
Always rooting for you, always,
Mark
PS: Here are four ways to get more BFU in your life:
- Learn more about our coaching group The Unicorn Society HERE.
- Subscribe to our Business for Unicorns podcast HERE.
- Subscribe to Mark’s YouTube channel HERE.
- Pick up a copy of my book HERE.
PPS Speaking of “more BFU,” have you checked out my YouTube channel lately?
To see my latest video, click the thumbnail below.
