What We Cover In This Episode:
-
Why knowing the financial baseline, and "break-even point" when evaluating class profitability and fixed costs is crucial for studio owners [5:08]
-
How to approach evaluating attendance trends and what to track [6:09]
-
The way that balancing instructor versus owner-led classes will indicate financial risk [7:24]
-
A reminder to always consider the ripple effect of cancellations and the full impact doing this can have [7:59]
-
How to communicate class changes proactively by presenting them as a strategy to better serve members [9:09]
-
What you can do to leverage fitDEGREE tools to track class popularity [16:54]
-
Strategies for boosting low attendance numbers before cutting the class [17:13]
-
The advantages in considering a pop-up or special series instead of a weekly slot [17:27]
-
How to maintain instructor and member trust by communicating changes well in advance [17:41]
Quotes:
"What makes average business owners to good business owners, to maybe even great business owners, is making decisions with data and your gut and not waiting too long to make the decision." [Nick, 3:32]
"Cancelling a low attendance class can free resources for a higher demand timeslot, but frequent cancellations can train clients not to trust your schedule…I understand this idea of freeing up resources, but at the end of the day, it might not." [Nick 8:02]
"Your schedule should serve both the business and the community, and the smartest studios are making data-driven decisions, not knee-jerk reactions." [Nick, 20:53]
LINKS:
Got a Question? Book a Call with the fitDEGREE Team!
Learn More About All of Our Partners & Get Exclusive Offers
Visit the fitDEGREE Knowledge Base
Send Megan Your Playlist or Discuss the Podcast Here!
fitDEGREE's Business Portal
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
Popular Podcasts
Las Culturistas with Matt Rogers and Bowen Yang
Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by Audiochuck Media Company.
The Brothers Ortiz
The Brothers Ortiz is the story of two brothers–both successful, but in very different ways. Gabe Ortiz becomes a third-highest ranking officer in all of Texas while his younger brother Larry climbs the ranks in Puro Tango Blast, a notorious Texas Prison gang. Gabe doesn’t know all the details of his brother’s nefarious dealings, and he’s made a point not to ask, to protect their relationship. But when Larry is murdered during a home invasion in a rented beach house, Gabe has no choice but to look into what happened that night. To solve Larry’s murder, Gabe, and the whole Ortiz family, must ask each other tough questions.