Episode 97 – Getting Retail-Ready with Matt Albrizio of Forever Fierce
Tickets to the 2018 Summit are now available! BONUS: When you sign up for the Summit before December 31, you’ll get ALL of the session recordings from 2017–both the Coaches’ Track AND the Owners’ Track! You’ll have immediate access so you can watch while you wait for June!
On today’s episode, Matt Albrizio of Forever Fierce shares his best practices for selling retail items at Christmas; how to buy gifts for your coaches; and how to create a Retail Plan for 2018.
Matt was on last year to share his strategies on Preorders and using templates instead of designing t-shirts from scratch. Following his plan, we increased our retail profit by $3200 at Catalyst this year…it it took me NO time. Instead of wasting hours trying to find, copy, alter and design t-shirts, I did nothing except paste his signup links.
I start the conversation with a surprise question: as a non-owner, what’s Matt’s perspective on “Black Friday” deals, presales and membership discounts?
Matt’s top strategy to avoid tying up your capital in inventory is STILL the pre-order. Forever Fierce does all of the form creation for you (another skill you don’t need to master.)
Matt then discusses, in a general form, the value of an annual calendar that includes a retail plan. We’ll come back to that.
Greg Glassman has spoken many times about his experience at a globo-gym, where an owner referred to his “PIFs” (Paid-In-Full Clients) as his best clients. Greg hated the idea. In this article, I discussed why we don’t do pre-sales or discounts or PIF deals at TwoBrain gyms. Clients already asking for discounts because you’ve sold them in the past? Here’s how to say no.
I shared a story (anonymously, of course) about an incredible affiliate owner and coach whose gym is in trouble because of their Black Friday deals in the past.
Matt then gave us another series of amazing retail nuggets:
He talked about using templates to sell designs that have been proven to work (instead of just projecting YOUR tastes onto other people)
Setting an annual retail plan so you don’t miss opportunities
What to get coaches for Christmas
When SHOULD you hold a small inventory, and of what?
What I do for my coaches at Christmas to create a “peak moment” in their lives
How to plan your retail for 2018
The picture below is where WE order. The exercise to plan your year is one we do with all TwoBrain gyms, and you can see on this drawing that we have our events in red, specialty groups in black, and retail in purple (4 orders.) Those aren’t the complete calendar (not even close,) but if you plan those things first, retail ordering becomes easy.
Final note: I signed up for Matt’s email-reminder program last year, and for once I had solid Catalyst hoodies to sell ON TIME for my clients. They’re wearing them around right now!
Email: firstname.lastname@example.org to get your plan together. It takes about 15 minutes.