The Top 3 Reasons Why A Gym Business Fails
Getting into the gym business today is an absolutely fabulous and lucrative decision. But, be forewarned that the competition is fierce despite how big the market share is. With that said, at the end of the day, there are 3 solid reasons why most of these fitness companies fail and we’re going to talk all about them in this article. Are you ready? Good, now let’s make sure your gym business is a smashing success!
Reason #1: There’s No REAL Business Plan in Existence
No, you cannot just invest in a slice of real estate, dump tons of equipment into it, open the door and expect to be successful. Yes, the world is modernizing and technology is awesome but no business goes anywhere without a serious plan. When it comes to poor finances and economic troubles, this is always the root cause: no plan.
You’ve got to understand your area.
- You’ve got to have your finances figured out and your marketing budget set in stone with room to breathe.
- You need systems in place to deal with incoming and outgoing members/trainers.
- You need to understand how your promotions will work and what your short & long terms goals are.
This is business 101 and shouldn’t be taken lightly. If you don’t know how to set up a professional business plan, then hire someone who does. It’s one of the best investments into your gym business you can make.
Reason #2: Completely Inadequate or Improper Branding
Your brand is more than an icon and a sign out front. If all you are is just another gym with some equipment in it then that’s not a good recipe for success. Realize that everything you do with your business either helps and empowers your brand or the reverse. There is no in-between.
What’s your brand story?
What sets you apart from any other gym?
Why was your gym business founded and to serve what greater purpose?
Why did you create your business is that particular place?
What’s the goal behind your brand?
These are the types of questions to ask when you’re designing your brand and distinguishing how your audience and members with interact with it. A lack of branding is as bad as not having a business plan.
Reason #3: No Genuine Web Presence in Motion
These days it’s pretty close to a necessity. You’ve got to have a web presence of some kind.
What’s the internet saying about you and your brand?
Where do you sit in relevant search results?
What kinds of web content are you putting out?
What kind of social media presence does your brand command?
How much traffic does your blog get and is it speaking to the right people?
A web presence can be the most beautiful dream for your business that you could ever wish for, or it can become a nightmare due to bad reviews, horrible testimonials, etc. It begins with your website and builds outward from there.
If your fitness business is struggling then chances are it has to do with these three things, right: planning, branding and internet marketing. Our company was founded to serve fitness business owners from the ground up. If you’ve got any questions, feel free to contact us or just subscribe to the blog for tons of information that can keep you at the top of your game in this industry.