Why Gyms Fail...☠️❌ ...and Why Your Classes Dont Matter | Ep 102

The Game with Alex Hormozi

Alex Hormozi

How To, Entrepreneurship, Business, Education

4.9 • 4.8K Ratings

🗓️ 5 February 2019

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Micro gyms must be aware of their competition and realize they cannot offer the same amenities as larger gyms. Today, Alex (@AlexHormozi) shares the challenges of running micro gyms and the importance of understanding the fitness industry. He highlights the need for businesses to offer more than just fitness classes, such as nutrition and accountability, and to provide premium services to succeed.

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:

(0:26) - Challenges of running a micro gym during recession

(2:07) - The business you're actually in: fitness, nutrition, accountability

(3:53) - Adapting to changing fitness industry

(5:34) - Competitive advantage of word-of-mouth marketing and member retention

(8:55) - Going above and beyond to provide premium service for gym members

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Transcript

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0:00.0	What's going on everybody?
0:01.0	I'm bringing some more books, but I wanted to say that if you haven't checked out $100
0:03.8	million offers, I would definitely suggest that you start there.
0:06.3	I've gotten some solid feedback and it couldn't be happier with this number one ranking
0:09.9	on Amazon for direct marketing and over 5,000 five star reviews.
0:13.8	So thank you guys so much for that.
0:15.2	It's 164 pages.
0:16.2	I really can help you out.
0:17.8	It takes about four hours to get through.
0:19.6	Check it out on Amazon.
0:20.6	The Kindle book is 99 cents.
0:22.5	The audiobook is as low as they'll let me put it on for it.
0:24.7	So I think it's 12 bucks.
0:26.2	So enjoy that and let's start the podcast.
0:29.4	What is going on everyone?
0:32.0	I wanted to make a quick video for you guys.
0:35.4	Pretty good.
0:36.4	A few minutes or podcast about why gyms fail.
0:39.2	And so I've been doing a lot of looking into this recently because I've been looking
0:42.8	into what gyms did and changed during the recession of 207, 889 to adjust and oftentimes
0:50.7	things that happened during those periods are the things that really boost profitability
0:54.3	because it's like only when there's lots of constraint.
	...

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