help our employees and saw the lack of
preparation we had given to our communication strategy in the event of a
catastrophe. We had employees that
couldn’t get
“It was probably due to a
paid and new
lot of prayer and hard work, members
but we emerged stronger and that wanted
better than before ...”
their money
back… from a
cash flow perspective it killed us”.
Working with the same owners that he
had spent the last year consulting with,
none of whom had no real gym experience, but did have a vast amount of expertise in creating strategies to work
through cash flow crisis, they put together an action plan that took Bryan’s
clubs from worst to first! “It was probably due to a lot of prayer and
hard work, but we emerged
stronger and better than before, for our members and
our employees”, Bryan said.
Late 2008 the financial
market began to deteriorate. They started looking
at their business in another way, realizing they needed to get away from focusing on members and memberships. Looking for
other non-membership based revenue
streams, such as PT, they realized that
it wasn’t just about having great PT, but
26
how to sell it. Bryan abandoned PT
as he knew it and moved to an annual
PT program that only provided clients
a PT EFT option. Within 1 year his 3
clubs increased revenue in this space
by over 400%, while margins increased
by 100%.
They did not stop there. They initiated their club enhancement fees, which
the now charge twice a year and has
reached nearly $1MM in annual revenue. They also introduced small group
personal training alternatives, and
most impressive; a youth performance
initiative which boast of over 1,400 enrollments in a 6 month period of children ages 7 and up.
Gold’s Gym Kingwood, TX