What We Cover In This Episode:
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How to assess your financials by analyzing what percentage of your monthly revenue is dedicated to payroll [3:16]
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What clients really value and prefer in the studio in terms of staffing [4:07]
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What happens when you define your ideal allocation for teaching, managing staff, and business growth [6:08]
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How to approach growth and what you need to be evaluation and questioning as an owner [14:36]
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The main reasons why owners prefer small core staff over a larger one and the things to watch out for with this sort of model [17:32]
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Why owners choose larger staffs and the risks that accompany this type of set up in the studio [19:05]
Quotes:
“If you do not have a path for people to grow forward, then whenever teaching becomes a burden or a studio is willing to pay more, they are probably just going to dip out.” [Nick, 6:38]
“[With[ the smaller staff you're going to want those W-2s. If you have them as independent contractors but you only have four or five instructors, that sounds scary as hell to me.” [Megan, 8:24]
“You can have the same studio, the same mission, vision, values, same class formats, everything, if you are in a different part of town, it is just going to be different people, it's going to be a different culture.” [Nick, 17:05]
LINKS:
Visit the fitDEGREE Knowledge Base
Send Megan Your Playlist or Discuss the Podcast Here!
fitDEGREE’s Business Portal
https://calendly.com/fitdegree-support
https://www.instagram.com/fitdegree/
https://www.instagram.com/fitspot_guru/
https://www.fitdegree.com/blog
https://www.youtube.com/channel/UChJ5rK6zWPXjbxtUQx3ys9Q
https://www.tiktok.com/@megan_fitdegree
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