Diversify Your Fitness Portfolio For Greater Profits
Guest Post by Stephen Cabral, Owner of “The Most Profitable Studio in the World.”
Did you know that most of the successful businesses in the world all share one thing in common?
This one thing allows them to weather the highs and lows of any economy and always come out on top.
So what is this one thing?
This means they know better than to put all their eggs in one basket.
The good news for you is that in the fitness business it’s easy to diversify.
I call this your fitness portfolio (just like an investor would have many different types of investments within one managed portfolio).
Most of my coaching clients allow for new leads to choose from 1 of these 4 options:
Semi-Private (2-3 clients)
Small Group Training (6-8 clients)
Large Group Training (boot camps)
The reason why I always recommend this (if you have the space) is because you now have a price point that works for each new lead that comes in your door.
And, this allows you a broader reach within your niche (athletes, youth, weight loss, strength, etc.)
Personally, I’m only able to use 2 of the 4 options in my business (I own a small studio with a fitness floor if only 500 ft), BUT I do diversify in other ways.
What I did is move out from beyond my studio and diversify by taking on in-home clients, corporate clients, and business boot camps.
This has allowed me to branch out while still staying within niche.
Plus, by adding a new dimension to my fitness business I can now reach a new audience and add additional sessions without taking on any more overhead expenses.
This is one of the more important strategies of how my studio team and I are able to break 1,000 sessions each month (Our best month was just shy of 1,200 training sessions.)
It’s important to keep in mind, though, that you always want to be keeping an eye out for what your “bread and butter” is. This basically means what service you offer that is most popular.
This is typically also what is going to make you the MOST money in your business. Make sure to focus on that and give it top priority in your fitness business.
Once you’ve found your winner You can then diversify around that. (Re-read that last line since it has helped my Smart Studio Systems and private coaching clients create very wealthy businesses.)
For a visual of how you can easily create a $100,000 business within 12 months (or add another 100k to your business) check out this free video explaining exactly how to diversify your fitness portfolio.
NEW: 2 More Free Coaching Videos are up for Limited Time FREEVIDEOS
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