The Numbers You Really Need to Know [SIMPLE]

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

MF Signature BFU 2

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.

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