What happens when you own a stable, profitable gym business that pays you $100,000 a year or more?
You challenge yourself to go further as an entrepreneur.
When you aren’t scrambling to make rent while working 60-hour weeks, you can dream big. Instead of trying to survive, you get to focus on thriving.
What does “thriving” look like? It varies from gym owner to gym owner, but here are a few common characteristics:
- Achieving a net-worth goal, usually $1 million to start.
- Achieving freedom of money and time while still young and healthy.
- Leaving a legacy for a family.
- Having an increasingly greater impact on the local community.
The program that helps gym owners accomplish these goals is called Tinker, and it’s the fourth phase of mentorship with Two-Brain.
Tinker Ready?
For a review of the first three phases of mentorship, read this post.
So when is a gym owner ready to move from stage three to stage four? The timelines vary, but, on average, we can get a gym owner to the Tinker level in two years, one month and nine days—regardless of starting point.
Gym is currently a tire fire you can see from space? No problem. We can help you fix it in about two years—if you’re willing to focus and do the work.
Some gym owners move much faster, and we’ve had people ascend into the Tinker program in less than 12 months (example: Bryce Broome).
In our mentorship program, we identify entrepreneurs who are reaching their net owner benefit (NOB) goals—usually $100,000 a year—and get on calls with them to talk about their plans for the future. Our mentors also recommend clients who aren’t quite at the $100,000 NOB level but have elite-level entrepreneurial skills and are pursuing Tinker-level projects, such as buying a building or opening a second location.
In general, gym owners are ready for Tinker when they have a profitable business, they have money to invest, they have the free time to ask “what’s next?” and they want to pursue personal growth in a group of like-minded people who will hold them accountable for accomplishing great things.
What great things have other Tinkers accomplished? Well, we’ve certified 54 millionaire gym owners overall and seven in the last quarter alone. That’s 54 fitness entrepreneurs who are dramatically improving their communities and creating financial legacies for their families.
Here’s a non-exhaustive list of other stuff that makes me smile from ear to ear:
- One Tinker went from $0 in real estate to $2.5 million in under two years.
- Another went from a net worth of $400,000 to $2.4 million in three years.
- Another went from zero rental properties to nine doors in two years.
- Another gym owner hit $100,000 NOB, joined Tinker and grew the gym by 30 percent in the first year.
- Another took 10 vacations with their family in a year.
- Another partnered as an investor/mentor to run additional locations without day-to-day responsibilities.
- Another started a new business outside fitness that is currently earning $50,000 a month.
- Another grew their gym by 20 percent after growing just 1.5 percent the year before.
- Another increased NOB by $15,000 in a year.
- Another adjusted strategies and got back $40,000 in taxes.
- One Tinker bought a vacation home and took six holidays with family.
The Structure
How do we help entrepreneurs do all this?
The Tinker program rests on four pillars: wealth, leadership, lifestyle and scaling (current business or future businesses). We focus on helping gym owners improve in each area.
To do that we use these tools:
- A detailed on-ramp curriculum, including resources on decision making, leadership, financial foundations, long-term vision, ROI generation and more.
- Four meetups a year in person, with expert speakers, workshops, 90-day sprint plans and networking.
- Weekly mastermind breakout calls focused on the four pillars, with peer support.
- A coach to hold each Tinker accountable with biweekly calls/check-ins.
- Calls with a Tinker mentor when needed.
- Monthly/bimonthly webinars from expert speakers (wealth building, branding, SEO, advanced sales tactics, etc.).
- A Tinker-specific toolkit with resources for elite-level gym owners.
- A dedicated Facebook group in which Tinkers interact and support each other.
ROI in the Tinker program is measured in different ways:
- For financial goals, we can measure net-worth growth.
- For scale-related goals, we look at NOB and specific goals attached to existing or new businesses.
- Leadership-related ROI is measured by staff retention and career growth, as well as the Tinker’s effective hourly rate (EHR, or income divided by hours worked).
- Lifestyle goals are harder to measure, but increasing vacation days and time spent with family give us a starting point. Tools such as a “happiness quotient” provide additional insight, but the greatest proof of lifestyle ROI is often when a Tinker hits a self-selected balance of time off and time passionately invested in businesses.
Challenge Yourself and Grow!
It’s common for our mentors to tell clients “you’re ready for Tinker” and have those clients question their readiness. That’s normal. “Impostor syndrome” is a real thing—even for longtime Tinkers. Fear of leaving the comfort zone is common, too.
Think about telling a gym client, “You’re ready to deadlift 400 lb.” A few will race to the bar and lift, while many others will look nervous and unsure even though you, the coach, know they have the strength.
It’s the same with entrepreneurship: Our expert mentors know when a client is ready to join our top gym owners in the Tinker program.
When you are in a room full of people who make you feel welcomed but challenged, then you’re in the right room. We’ve developed the Tinker program to push you to achieve great things and reach your full potential. You’ll have the support of the mentor team and every other Tinker as you set goals, make plans and execute. We’ll celebrate your successes, too.
As a group, we believe in each other and motivate each other, but we don’t accept self-limitation and complacency. We work through those issues to find success.
And the results speak for themselves. We have the data and the numbers. We’re cranking out new millionaires every quarter. If you participate in the program, utilize the resources, believe in yourself, connect with your peers, do the hard work and listen to your mentor, you will get results.
If you’re nearing your net owner benefit goal and asking “what’s next?” your mentor will be talking to you about Tinker very soon.
If you’re in the earlier stages of mentorship, consider this a preview of what’s to come if you stick to the plan and keep putting in the work every day.
And if you don’t work with a Two-Brain mentor yet, the average gym owner can reach the Tinker level in just over two years if they do the right things at the right time.
To hear more about an exact plan to help you earn $100,000 a year and reach millionaire net worth as a gym owner, book a call here.