Nobody got into the fitness field just to make money.
But everyone in fitness must make money if each entrepreneur is going to make an impact.
In the first post in this series, I shared the top gyms in the world for lifetime value (LTV): the value they deliver to an average client, measured in dollars.
In the second post, I shared the top gyms in the world for net owner benefit (NOB): the owner’s value as CEO of the business.
Though we only release the names of the gyms internally to our clients, I can tell you many of the same gyms are on both leaderboards. That’s no accident.
For example, one gym owner earned $113,000 per year with 150 clients. Each client had an average LTV of $9,000—the gym charges appropriately for its high-value service and keeps clients for 30-34 months.
The more value you create for your clients, the more value they will repay in turn.
Bob Burg, author of “The Go-Giver” talks about this exchange in value on Episode 41 of Two-Brain Radio.
You’ve probably heard something like this in the past: “Fitness is a hundred-billion-dollar industry!” Right? But none of those dollars is for you. Every dollar you earn as an entrepreneur is a dollar you’ll have to create.
How do you create dollars? By creating value. The more value you create for your clients, the more value they will return to you.
Sometimes, gym owners have a value misalignment. They create true life-changing value for their clients but don’t receive enough value in return. They can’t make a living, so they go back to their corporate jobs. That’s a true shame, and it’s why I built our mentorship platform to help.