Adding more revenue streams sounds like the best way to grow your gym… but is it?
Many gym owners fall into the trap of launching new services—supplements, nutrition programs, or specialty classes—before their core business is stable. Instead of boosting profits, this often leads to distraction, dilution, and ultimately, stagnation.
In this episode, Tim and Randy break down the five key questions every gym owner should answer before adding a new profit center. They explain why more isn’t always better, share real-world mistakes gym owners have made, and reveal how focusing on one thing can lead to explosive growth.
If you’ve ever wondered whether a new offering is the right move, this episode is for you. Learn how to filter out distractions, protect your business, and grow the smart way.
Tune in now and start making better business decisions today!
Key Takeaways:
- Intro (00:00)
- Adding new revenue streams too soon (01:09)
- Focusing on one core offering leads to exponential growth (02:40)
- The five key questions to evaluate any new business idea (05:51)
- Question #1: Do I believe in this thing? (09:19)
- Question #2: Will my clients get better results? (10:10)
- Question #3: Is there a profit margin? (11:46)
- Question #4: Can I sell this? (13:30)
- Question #5: Can we service the product or service that we're bringing in? (16:29)
- Avoid business distractions (21:32)
Additional Resources:
- A tool for deciding on new gym services – 5-Question Matrix
- Get 30 days of Semi-Private Pro on us!
- Check out our Switch to Semi-Private course
- Apply to join the Iron Circle
- Get your early bird ticket for the 2025 Growth Summit in Nashville
- Get access to the 2024 Growth Summit recordings
- Tim's new book - Built to Win by Tim Lyons
- ProFit Accelerator: Helping Training Gyms Grow to 30K/month and Beyond Facebook group
- Business Accelerator Program
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