The 6 Things Gym Profit Leaders Are Doing Right That You Might Not Be...🏆🏆🏆 | Ep 85

The Game with Alex Hormozi

Alex Hormozi

Business, Education, Entrepreneurship, How To

4.9 • 4.8K Ratings

🗓️ 20 November 2018

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

"And so I'd highly recommend sticking to your guns and they'll respect you more and they'll be way less of a pain in the ass customer." Today, Alex (@AlexHormozi) discusses six things that gym leaders do differently than the average gym. These include charging higher prices, not offering discounts, optimizing space utilization, having lower payroll and higher commissions, and being located in highly competitive marketplaces.

Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.

Timestamps:

(0:56) - Pricing: Industry leaders charge $172, average gym charges $132.

(2:16) - Discounts: Industry leaders don't offer significant discounts, average member pays $142.

(2:33) - Commissions: Industry leaders have double commissions, motivating trainers.

(4:06) - Marketplace: Industry leaders are in populated areas with competition.

(7:42) - Space Utilization: Industry leaders use half the space per customer.

(9:04) - Payroll: Industry leaders' payroll is half of laggards.

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Transcript

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0:00.0	Hey guys, real quick. So Layland, I are definitely working on our social media presence.
0:03.0	If you guys haven't noticed and we're just breaking now into linked in.
0:06.2	All right, it's not as bad as I thought. It's actually been pretty awesome so far and you guys
0:09.8	have been really cool in there and people are sharing our stuff a lot. So if we aren't connected,
0:13.3	on LinkedIn, it go ahead and let's connect and let's rock and roll.
0:17.0	Happy Tuesday. We're actually on No Talk Tuesday, which is a new thing that we started
0:21.2	at Jim Watch, meaning we don't have meetings going on, which is awesome because everyone just gets
0:26.7	to GSD get stuff done. And so one of the things that I had my agenda today,
0:31.6	was actually my idea yesterday was to make this video for you guys. And this comes directly
0:37.0	from a report that was released by Zen Planner, which I highly encourage you guys to go check out
0:42.4	like different industry reports because they're very telling just to see where the entire industry
0:46.8	as a whole is. Obviously like that spans different types of studios, etc. but I thought that the
0:52.8	report that they had is really, really valuable. So and I just like having things confirmed,
0:57.5	we preach, but anyways, there were six things that were outlined that market leaders do that the
1:05.4	average Jim does not do. And so I kind of like I originally thought like maybe I'll make a video
1:11.0	about each one of them, but I don't want to waste your time. And so I want, like if it were me,
1:15.8	I would just want one video to follow you finding so that you don't have to go through the 30-page report.
1:19.7	So hopefully that's cool. I can save you some time. So the six things that I'll go over are pricing,
1:24.1	discounts, space utilization, payroll commissions, and marketplace. Okay. So one of the findings
1:29.9	that they have is that industry leaders, so Jim's that make the most money charge more.
1:36.8	What a concept. And the average Jim charges $132 a month. Now this is different from the data that
1:43.9	we pulled, which was $118 per month from all the Jim's that we had it. Obviously that could be a
	...

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